Strategy Inc (MSTR)

NASDAQ: MSTR · USD

$145

+3.10 (+2.2%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-05-20

Our latest published analysis: MSTR rated Sell

Strategy Inc's published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$6.94 / share

Potential value

$9.81 / share

Upside to FV

-95.8%

from $145

Moat

3/10

None

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$58.6B
Revenue (ttm)	498.3M
Net income (ttm)	-31.4B
EPS (ttm)	-$99.3
Shares out	384.2M
P/E (forward)	37.4x
Volume	9,359,535
Beta	3.57

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 498.3M
Net income (ttm): -31.4B
EPS (ttm): -$99.3
P/E (forward): 37.4x
Market cap: $58.6B

Item	P1	P2	P3	P4	Trend
Period	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$499.3M	$496.3M	$463.5M	$477.2M	-1.5%
Gross profit	$396.3M	$386.3M	$334.0M	$327.8M	-6.1%
Operating income	$-1.27B	$-75.6M	$-1.87B	$-5.46B	—
Net income	$-1.47B	$429.1M	$-1.17B	$-3.85B	—
EPS (diluted)	$-12.98	$2.64	$-6.06	$-15.23	—
EBITDA	$-1.26B	$-61.0M	$-1.85B	$-5.44B	—
R&D	$127.4M	$120.5M	$118.5M	$93.9M	-9.7%
SG&A	$258.3M	$265.0M	$278.6M	$274.9M	+2.1%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AI	C3.ai, Inc.	2B	—	8.4x	-35.6%	+3.6%	-33.6%	매도
BAX	Baxter International Inc.	13.1B	—	1.2x	6.8%	-1.2%	+9.9%	매수
CNC	Centene Corporation	33.2B	22.7x	0.2x	6.9%	+9.6%	+101.2%	비중 축소
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	보유
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수

Base and Bull scenarios

Bull25%

Price target

$9.81

-94.1% from spot

Values only the upper-bound potential of the legacy enterprise software business using expanded EV/Revenue multiples. This fundamentally ignores the digital asset treasury, reflecting only the operating unit.

Terminal EV/Revenue multiple expands above 8x.
Software revenue growth accelerates slightly above 4%.

Base45%

Price target

$6.94

-95.8% from spot

Our baseline deterministic fair value bridges the isolated software segment via EV/Revenue. The massive downside accurately reflects the mechanical omission of the Bitcoin investment assets from the equity calculation.

Terminal EV/Revenue multiple fixed at 8x.
Software revenue growth anchors at 3.49%.
SOTP Net Debt / Investment Assets mechanically assumed at $0.

Sensitivity: Ke × terminal growth

The highlighted base cell is anchored to valuation synthesis sensitivity reference ($6.94). It is the reference value for this grid, not a separate standalone fair-value claim.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
12.4%	$7.61	$8.00	$8.42	$8.90	$9.43
13.4%	$6.94	$7.26	$7.61	$8.00	$8.42
14.4%	$6.38	$6.65	$6.94	$7.26	$7.61
15.4%	$5.90	$6.13	$6.38	$6.65	$6.94
16.4%	$5.49	$5.69	$5.90	$6.13	$6.38

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E37.4

P25 n/aP50 n/aP75 n/a

Trailing P/E0

P25 n/aP50 n/aP75 n/a

ROE-63.6

P25 n/aP50 n/aP75 n/a

ROIC-71.8

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All MSTR indicators

Market & fundamental data

Available fields

224

Groups with data

Currency

USD

Showing 224 of 224 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001050446
Company name	Strategy Inc
Country	United States
Country code	US
CUSIP number	594972408
Earnings date	2026-10-29
Earnings time	amc
Employees	1,539
Employees change	27
Employees growth	1.79%
Enterprise value	$59.8B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1989
In index	NASDAQ100
Industry	Software - Application
IPO date	1998-06-11
Is primary listing	Yes
Is SPAC	No
ISIN number	US5949724083
Last 10-K release date	2026-02-19
Last earnings date	2026-07-30
Last refreshed	2026-10-28
Last stock split date	2024-08-08
Last stock split type	Forward
Market cap	$55.5B
Market cap category	Large-Cap
Next earnings date	2026-10-29
Options	Yes
Price	$144.50
Price currency	USD
Sector	Technology
SIC code	6199
Stock price date	2026-10-28
Symbol	MSTR
U.S. state	Virginia
Website	https://www.strategy.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Earnings yield	-68.72%
EV/Sales	117.51x
FCF / EV yield	-0.07%
FCF yield	-0.08%
Forward EV/Sales	113.86x
Forward P/E	3.96x
Forward P/S	105.46x
Industry forward P/E	19.47x
Industry P/E	71.8x
P/B ratio	1.7x
P/S ratio	108.83x
Price / tangible book value	1.76x
Sector forward P/E	18.55x
Sector P/E	32.64x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
Gross margin	67.6%
Operating margin	-7,295.38%
Pretax margin	-7,278.64%
Profit per employee	$-20.4M
Revenue per employee	$323,812
ROA	-38.73%
ROA (5Y)	-12.72%
ROCE	-69.83%
ROE	-63.56%
ROE (5Y)	-107.53%
ROIC	-71.75%
ROIC (5Y)	-23.03%
SBC / revenue	10.69%
Tax / revenue	-1,175.68%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth years	0
Gross profit growth	3.95%
Gross profit growth (Q)	3.57%
Gross profit growth 3Y	-5.01%
Gross profit growth 5Y	-4.26%
Net income growth years	0
Revenue growth	7.79%
Revenue growth (Q)	6.88%
Revenue growth (QoQ)	-1.55%
Revenue growth 10Y	-0.33%
Revenue growth 3Y	-0.13%
Revenue growth 5Y	-0.34%
Revenue growth quarters	5
Revenue growth years	1

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-21.1M
Depreciation and amortization	$1.4M
EBIT	$-36.4B
EBITDA	$-36.4B
EPS	$-99.30
FCF per share	$-0.11
Financing cash flow	$24.1B
Free cash flow	$-41.2M
Free cash flow minus SBC	$-94.4M
Gross profit	$336.9M
Income taxes	$-5.9B
Investing cash flow	$-22.4B
Net borrowing	$-1.4B
Net cash flow	$1.7B
Net income	$-31.4B
Operating cash flow minus SBC	$-73.3M
Operating income	$-36.4B
Revenue	$498.3M
Stock-based compensation	$53.2M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	2.99
Book value per share	$83.12
Debt / equity	0.15
Interest coverage	-608.87
Long-term assets	$49.9B
Long-term liabilities	$6.7B
Net cash (debt)	$-4.3B
Net cash / market cap	-7.97%
Net debt / equity	0.1
Piotroski F-Score	3
Property, plant and equipment	$86.6M
Shareholders' equity	$45.3B
Tangible book value	$30.9B
Tangible book value per share	$83.12
Total assets	$52.6B
Total cash	$2.4B
Total debt	$6.8B
Total liabilities	$7.2B
WACC	21.32%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.01
Current assets	$2.7B
Current liabilities	$495.1M
Current ratio	5.39
Net working capital	$-234.6M
Quick ratio	5.22
Working capital	$2.2B
Working capital turnover	0.48

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-24.59%
Dividend yield	0%
Shareholder yield	-24.59%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	707.35%
10Y return CAGR	23.23%
10Y total return	707.35%
150-day SMA	$132.66
15Y price change	889.41%
15Y return CAGR	16.51%
15Y total return	889.41%
1D price change	2.19%
1M price change	-11.67%
1M total return	-11.67%
1W price change	-1.84%
1W total return	-1.84%
1Y price change	-52.61%
1Y return CAGR	-52.63%
1Y total return	-52.61%
20-day SMA	$149.51
200-day SMA	$134.93
20Y price change	1,065.65%
20Y return CAGR	13.07%
20Y total return	1,065.65%
3M price change	42.02%
3M total return	42.02%
3Y price change	244.43%
3Y return CAGR	51.01%
3Y total return	244.43%
50-day SMA	$142.46
50-day SMA vs 200-day SMA	50over200
52-week high	$297.20
52-week high date	2025-10-28
52-week low	$81.81
52-week low date	2026-06-26
5Y price change	95.94%
5Y return CAGR	14.4%
5Y total return	95.94%
6M price change	-17.2%
6M total return	-17.2%
After-hours change	0.5%
After-hours close	$144.50
After-hours price	$145.22
All-time high	$543.00
All-time high date	2024-11-21
All-time low	$0.42
All-time low date	2002-07-03
Average true range (ATR)	$8.87
Average volume	18.5M
Beta (1Y)	2.65
Beta (2Y)	1.49
Beta (5Y)	3.57
Change from 52-week high	-51.38%
Change from 52-week low	76.63%
Change from all-time high	-74.2%
Change from all-time low	33,257.14%
Change from open	3.5%
Day's gap	-1.27%
Dollar volume	$1.4B
High price	$144.82
Low price	$138.67
Monthly RSI	45.49
Open price	$139.61
Position in 52-week range	94.8%
Premarket change	-1.35%
Premarket close	$141.40
Premarket price	$139.49
Premarket volume	683.4K
Previous close	$141.40
Price vs 150-day SMA	5.61%
Price vs 20-day SMA	-6.3%
Price vs 200-day SMA	3.83%
Price vs 50-day SMA	-1.66%
Relative volume	0.51
RSI	45.81
Sharpe ratio	-0.56
Sharpe ratio (3Y)	0.88
Sharpe ratio (5Y)	0.54
Sortino ratio	-0.77
Sortino ratio (3Y)	1.5
Sortino ratio (5Y)	0.9
Volume	9.4M
Weekly RSI	49.36
YTD price change	-7.8%
YTD total return	-7.8%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	363.6M
Float percentage	94.64%
Shares change (QoQ)	5.58%
Shares change (YoY)	24.59%
Shares held by insiders	5.32%
Shares held by institutions	57.92%
Shares outstanding	384.2M
Short % of float	8.08%
Short % of shares	7.65%
Short ratio	1.3 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	603

Deeper analysis on MSTR

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this MSTR report

What is the latest published MSTR stock rating?

Strategy Inc is shown with Sell in the latest published report, analyzed 2026-05-20. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full MSTR analysis?

The full latest published report, analyzed 2026-05-20, lives at /stocks/MSTR/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for MSTR?

The latest published report analyzed 2026-05-20 gives MSTR a fair value of USD 7 and a potential value of USD 10. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the MSTR page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-05-20). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

SellMSTR · Fair value $6.94-95.8%

Read full analysis →

Strategy Inc (MSTR)

Our latest published analysis: MSTR rated Sell

Price

Financial snapshot

Fair-value bridge

Latest news · MSTR

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All MSTR indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on MSTR

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	1.5
Management	4.3
Balance Sheet	5.0
Profitability	5.0
Revenue Growth	5.0
Risk Assessment	5.0
Competitive Moat	3.0
Earnings Quality	3.0
Capital Efficiency	3.5