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Strategy
(NASDAQ:MSTR)
Strategy (MSTR) vs. SPDR S&P 500 ETF (SPY)
Strategy Business Overview & Revenue Model
Strategy Key Performance Indicators (KPIs)
Shows the amount of Bitcoin the company holds, reflecting its strategic investment in cryptocurrency and potential exposure to crypto market volatility.
Main Street DataStrategy Earnings Call Summary
Strategy Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 462.32M | 463.46M | 496.26M | 499.26M | 510.76M | 480.74M |
| Gross Profit | 324.08M | 333.99M | 386.32M | 396.27M | 418.85M | 389.68M |
| EBITDA | 6.65B | -1.85B | -61.04M | -1.26B | -770.88M | 70.41M |
| Net Income | 4.79B | -1.17B | 429.12M | -1.47B | -535.48M | -7.52M |
Balance Sheet | ||||||
| Total Assets | 64.77B | 25.84B | 4.76B | 2.41B | 3.56B | 1.47B |
| Cash, Cash Equivalents and Short-Term Investments | 50.09M | 38.12M | 46.82M | 43.84M | 63.36M | 59.67M |
| Total Debt | 8.21B | 7.26B | 2.25B | 2.45B | 2.23B | 570.69M |
| Total Liabilities | 14.40B | 7.61B | 2.60B | 2.79B | 2.58B | 912.57M |
| Stockholders Equity | 50.37B | 18.23B | 2.16B | -383.12M | 978.96M | 553.04M |
Cash Flow | ||||||
| Free Cash Flow | -34.20B | -22.14B | -1.89B | -287.20M | -2.54B | -1.08B |
| Operating Cash Flow | -95.59M | -53.03M | 12.71M | 3.21M | 93.83M | 53.62M |
| Investing Cash Flow | -34.11B | -22.09B | -1.91B | -278.59M | -2.63B | -1.02B |
| Financing Cash Flow | 34.19B | 22.13B | 1.89B | 265.19M | 2.54B | 563.23M |
Strategy Technical Analysis
Strategy Risk Analysis
Strategy Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $64.81B | 110.49 | 6.66% | ― | 14.21% | -62.56% | |
| ― | $66.64B | 65.01 | 40.20% | ― | 13.99% | -0.95% | |
| ― | $54.57B | 452.09 | 4.45% | ― | 26.00% | -25.64% | |
| ― | $87.39B | ― | -42.45% | ― | 28.37% | -35.49% | |
| ― | $42.67B | -167.27 | -21.58% | ― | 19.66% | 15.17% | |
| ― | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
| ― | $81.97B | 25.45 | 18.01% | 0.08% | -3.81% | ― |
Strategy Corporate Events
On October 20, 2025, Strategy Inc. announced updates regarding its at-the-market offering programs and bitcoin holdings. During the period from October 13 to October 19, 2025, the company sold shares across various preferred stock series, generating net proceeds and maintaining a significant amount available for issuance. Additionally, Strategy Inc. acquired 168 bitcoins during this period, using proceeds from its ATM offerings, which contributed to its aggregate bitcoin holdings of 640,418 bitcoins.
The most recent analyst rating on (MSTR) stock is a Buy with a $620.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On October 13, 2025, Strategy Inc announced updates on its at-the-market (ATM) offering programs and bitcoin holdings. During the period from October 6 to October 12, 2025, the company raised $27.3 million through its ATM offerings and purchased 220 bitcoins, bringing its total holdings to 640,250 bitcoins. These actions underscore Strategy Inc’s ongoing commitment to its Bitcoin-centric treasury strategy and its position as a significant player in the digital asset market.
The most recent analyst rating on (MSTR) stock is a Buy with a $705.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On October 1, 2025, Strategy Inc.’s board of directors approved an increase in the annual cap for the security program for Michael J. Saylor, raising it from $1,400,000 to $2,000,000 for the year 2025. The company also maintains a dashboard on its website to provide public disclosures, including market prices of securities and bitcoin holdings. Strategy Inc. faces significant risks related to its substantial indebtedness, which could impact its ability to raise capital and execute its bitcoin strategy. The company’s debt level, including various convertible notes, could limit its financial flexibility and increase vulnerability to economic downturns, potentially affecting the liquidity and trading price of its STRK Stock.
The most recent analyst rating on (MSTR) stock is a Hold with a $340.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
Strategy Inc, a company dealing with digital assets, particularly bitcoin, has been impacted by recent interim guidance from the Treasury and IRS regarding the corporate alternative minimum tax (CAMT). The guidance, issued on September 30, 2025, allows corporations to disregard unrealized gains and losses on digital assets when calculating adjusted financial statement income, which determines CAMT applicability. As a result, Strategy Inc, which had anticipated being subject to CAMT from 2026 due to unrealized gains on its bitcoin holdings, now no longer expects to be affected by this tax.
The most recent analyst rating on (MSTR) stock is a Sell with a $175.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On September 30, 2025, Strategy Inc announced an increase in the annual dividend rate for its Variable Rate Series A Perpetual Stretch Preferred Stock from 10.00% to 10.25%, effective from October 1, 2025. The company also declared a cash dividend of $0.854166667 per share for the month ending October 31, 2025, reflecting the new annual rate. This adjustment signifies a strategic financial decision aimed at enhancing shareholder value and potentially improving the company’s market position.
The most recent analyst rating on (MSTR) stock is a Sell with a $175.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On September 29, 2025, Strategy Inc announced updates regarding its at-the-market offering programs and bitcoin holdings. During the period from September 22 to September 28, 2025, the company sold shares worth $128.1 million and acquired 196 bitcoins for $22.1 million, using proceeds from its ATM programs. These updates highlight Strategy’s ongoing efforts to manage its financial assets and expand its bitcoin portfolio, potentially impacting its market position and stakeholder interests.
The most recent analyst rating on (MSTR) stock is a Hold with a $344.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
Strategy Inc., a company involved in financial securities and cryptocurrency investments, announced updates on its at-the-market offering programs and bitcoin holdings on September 22, 2025. During the period from September 15 to September 21, 2025, the company sold 173,834 STRF shares and acquired 850 bitcoins, utilizing proceeds from its STRF and MSTR ATM programs. The updates reflect Strategy’s ongoing efforts to manage its securities and cryptocurrency portfolios, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (MSTR) stock is a Hold with a $344.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On September 15, 2025, Strategy Inc. announced updates regarding its at-the-market offering programs and bitcoin holdings. The company sold shares from various preferred stock series, generating significant net proceeds, and acquired additional bitcoin, increasing its aggregate holdings. These updates reflect Strategy’s ongoing financial strategies and its commitment to transparency through its online dashboard, which provides public access to key financial metrics and disclosures.
The most recent analyst rating on (MSTR) stock is a Buy with a $640.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
Strategy Inc. announced updates on September 8, 2025, regarding its at-the-market offering programs and bitcoin holdings. During the period from September 2 to September 7, 2025, the company sold shares across various ATM programs, resulting in significant net proceeds and available issuance. Additionally, Strategy Inc. acquired 1,955 bitcoins, utilizing proceeds from its ATM programs, reflecting its ongoing investment in cryptocurrency.
The most recent analyst rating on (MSTR) stock is a Buy with a $705.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On August 31, 2025, Strategy Inc. announced an increase in the dividend rate for its Variable Rate Series A Perpetual Stretch Preferred Stock from 9.00% to 10.00%, effective from September 1, 2025. Additionally, on September 2, 2025, the company declared cash dividends for various preferred stock series, payable on September 30, 2025, with specific per-share amounts detailed for each series.
The most recent analyst rating on (MSTR) stock is a Buy with a $705.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
Strategy Inc. announced updates on September 2, 2025, regarding its at-the-market offering programs and bitcoin holdings. From August 26 to September 1, 2025, the company sold various shares, including STRF, STRK, STRD, and MSTR, generating net proceeds of $471.8 million. Additionally, Strategy Inc. acquired 4,048 bitcoins at an aggregate purchase price of $449.3 million, increasing its total bitcoin holdings to 636,505.
The most recent analyst rating on (MSTR) stock is a Buy with a $705.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
Strategy Inc has announced an update to its Dividend Adjustment Framework for its Variable Rate Perpetual Stretch Preferred Stock (STRC Stock). The new framework outlines specific dividend rate recommendations based on the stock’s five-day volume-weighted average price, aiming to maintain the trading price near $100 per share. This structured approach is subject to the Board of Directors’ approval and aims to align with the company’s and stockholders’ best interests, although there is no assurance of achieving the intended price stability.
The most recent analyst rating on (MSTR) stock is a Buy with a $464.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On August 25, 2025, Strategy Inc announced updates on its at-the-market offering programs and bitcoin holdings. Between August 18 and August 24, 2025, the company sold shares worth $357 million across different classes of preferred stock and acquired 3,081 bitcoins for $356.9 million. These transactions reflect Strategy’s ongoing strategy to leverage its stock offerings to bolster its cryptocurrency portfolio, potentially impacting its market positioning and stakeholder interests.
The most recent analyst rating on (MSTR) stock is a Sell with a $175.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On August 18, 2025, Strategy Inc. announced updates to its at-the-market offering programs and bitcoin holdings. The company plans to issue MSTR shares to manage debt obligations and fund dividends when its market value is below a certain threshold. Additionally, Strategy Inc. acquired 430 bitcoins during the period from August 11 to August 17, 2025, using proceeds from its ATM programs, reflecting its ongoing commitment to integrating cryptocurrency into its financial strategy.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On August 11, 2025, MicroStrategy Incorporated officially changed its name to Strategy Inc, following an amendment to its Certificate of Incorporation. This name change, approved by the board of directors, does not affect the company’s corporate structure or the trading symbols of its securities on Nasdaq. Additionally, on July 7, 2025, the company filed a Certificate of Amendment to adjust the terms of its 8.00% Series A Perpetual Strike Preferred Stock, aiming to align its liquidation preference with its trading price. The company plans to seek stockholder ratification for this amendment.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On August 11, 2025, Strategy, a company operating under the name MicroStrategy Incorporated, announced updates regarding its at-the-market (ATM) offering programs and bitcoin holdings. During the period from August 4 to August 10, 2025, the company sold 115,169 shares of its STRF ATM, generating net proceeds of $13.6 million. Additionally, Strategy acquired 155 bitcoins at an aggregate purchase price of $18 million, using proceeds from the STRF ATM and a previous initial public offering. These strategic financial moves reflect the company’s ongoing efforts to manage its capital and expand its cryptocurrency portfolio.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
Microstrategy’s Earnings Call: A Positive Outlook Amid Challenges
On August 4, 2025, Strategy announced updates regarding its at-the-market offering programs and bitcoin holdings. The company completed a public offering of its Variable Rate Series A Perpetual Stretch Preferred Stock, raising approximately $2.47 billion in net proceeds. Additionally, Strategy purchased 21,021 bitcoins using these proceeds, reflecting its ongoing investment strategy in digital assets.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
MicroStrategy Incorporated, operating as Strategy, is a leading Bitcoin Treasury Company and a provider of AI-powered enterprise analytics software, known for its strategic accumulation of Bitcoin as a primary treasury reserve asset. In its latest earnings report, Strategy announced a record net income of $10 billion for the second quarter of 2025, with a diluted earnings per share of $32.60. The company also highlighted its significant Bitcoin holdings, totaling 628,791 bitcoins at a total cost of $46.07 billion.
On July 31, 2025, Strategy announced a monthly cash dividend of $0.80 per share for its Variable Rate Perpetual Stretch Preferred Stock, with payments scheduled for August 31, 2025. The company reported record financial results for Q2 2025, with a net income of $10 billion and a diluted EPS of $32.60, driven by significant gains in bitcoin holdings and capital raising activities. Strategy’s strategic initiatives have resulted in a 25% year-to-date increase in Bitcoin per Share, and the company has raised its full-year BTC Yield and BTC $ Gain targets. The introduction of STRC, a high-yield credit instrument, marks a significant expansion in their capital markets platform, reflecting their commitment to innovative financial products.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On July 31, 2025, Strategy announced a sales agreement with several agents to issue and sell shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, with an aggregate offering price of up to $4.2 billion. The company plans to use the proceeds for general corporate purposes, including the acquisition of Bitcoin and working capital. The sales will be conducted as an ‘at the market offering’ and are subject to terms and conditions outlined in the sales agreement. This move is part of Strategy’s broader strategy to leverage its position in the digital asset market and enhance its financial flexibility.
The most recent analyst rating on (MSTR) stock is a Buy with a $392.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On July 29, 2025, Strategy completed its initial public offering of 28,011,111 shares of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), raising approximately $2.521 billion. This offering, the largest U.S. IPO of 2025, marks a significant milestone for Strategy, as it enhances its Bitcoin holdings to 628,791 bitcoins and introduces a new income-oriented instrument for investors. The STRC stock will trade on the Nasdaq Global Select Market, representing the first U.S. exchange-listed perpetual preferred security issued by a Bitcoin Treasury Company to pay monthly dividends. This move is expected to strengthen Strategy’s position in the market and attract a new group of income-focused investors.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
Strategy, operating under the name MicroStrategy Incorporated, is a company involved in the financial sector, focusing on securities and bitcoin holdings. On July 28, 2025, Strategy announced updates regarding its at-the-market offering programs and bitcoin holdings. During the period from July 21 to July 27, 2025, no shares were sold under its ATM programs, and no new bitcoin purchases were made. The company maintains a dashboard on its website to distribute information about its securities and bitcoin holdings, encouraging investors to review this information regularly.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On July 24, 2025, Strategy announced an underwritten offering of 28,011,111 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock at $90 per share, expected to settle on July 29, 2025. The offering is estimated to generate net proceeds of approximately $2.474 billion, which the company plans to use for general corporate purposes, including Bitcoin acquisition and working capital. This strategic financial move positions Strategy to further its market influence in the cryptocurrency space, potentially impacting stakeholders by enhancing its Bitcoin holdings and financial flexibility.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.
On July 21, 2025, Strategy company faced a class action lawsuit in Delaware’s Court of Chancery, alleging violations of the Delaware General Corporation Law and breach of fiduciary duty by its board of directors. The lawsuit, filed by David Dodge on behalf of shareholders, claims that the company improperly amended the terms of its 8.00% Series A Perpetual Strike Preferred Stock without a shareholder vote, potentially affecting the stock’s liquidation preference. The complaint seeks to invalidate the amendment and demands damages, but the company cannot yet predict the lawsuit’s outcome or potential financial impact.
The most recent analyst rating on (MSTR) stock is a Buy with a $195.00 price target. To see the full list of analyst forecasts on Strategy stock, see the MSTR Stock Forecast page.