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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 | ||||
| 459.28M | 463.46M | 496.26M | 499.26M | 510.76M | 480.74M | Gross Profit |
| 325.85M | 333.99M | 386.32M | 396.27M | 418.85M | 389.68M | EBIT |
| -7.57B | -1.85B | -115.05M | -1.28B | -784.53M | -13.63M | EBITDA |
| -7.57B | -1.85B | -61.04M | -1.26B | -770.88M | 70.41M | Net Income Common Stockholders |
| -5.34B | -1.17B | 429.12M | -1.47B | -535.48M | -7.52M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 60.30M | 38.12M | 46.82M | 43.84M | 63.36M | 59.67M | Total Assets |
| 43.92B | 25.84B | 4.76B | 2.41B | 3.56B | 1.47B | Total Debt |
| 107.93M | 7.25B | 2.25B | 2.45B | 2.23B | 570.69M | Net Debt |
| 47.63M | 7.21B | 2.21B | 2.40B | 2.17B | 511.02M | Total Liabilities |
| 10.39B | 7.61B | 2.60B | 2.79B | 2.58B | 912.57M | Stockholders Equity |
| 1.30B | 18.23B | 2.16B | -383.12M | 978.96M | 553.04M |
| Cash Flow | Free Cash Flow | ||||
| -20.53B | -53.03M | -1.89B | -287.20M | -2.54B | -1.08B | Operating Cash Flow |
| -84.01M | -53.03M | 12.71M | 3.21M | 93.83M | 53.62M | Investing Cash Flow |
| -28.12B | -22.09B | -1.91B | -278.59M | -2.63B | -1.02B | Financing Cash Flow |
| 28.18B | 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $63.66B | 63.59 | 42.36% | ― | 12.89% | 1.23% | |
78 Outperform | $69.48B | ― | -40.16% | ― | 27.50% | -49.96% | |
75 Outperform | $67.48B | 138.80 | 5.70% | ― | 15.38% | -67.58% | |
71 Outperform | $56.09B | ― | -34.33% | ― | 19.12% | -161.42% | |
66 Neutral | $43.45B | 76.88 | -47.82% | ― | 14.72% | 21.81% | |
62 Neutral | $11.93B | 10.60 | -7.51% | 3.00% | 7.40% | -8.09% | |
51 Neutral | $106.95B | ― | -29.68% | ― | -6.19% | -3736.55% |
Strategy Corporate Events
On June 10, 2025, Strategy completed an initial public offering of 11,764,700 shares of its 10.00% Series A Perpetual Stride Preferred Stock (STRD Stock). This issuance allows Strategy to offer non-cumulative dividends at an annual rate of 10% on the stated amount of $100 per share, payable quarterly if declared by the board. The STRD Stock ranks senior to Strategy’s common stock in terms of dividend payments and asset distribution upon liquidation. The company retains the right to redeem the stock under specific conditions, such as a ‘Tax Event’ or if the outstanding shares fall below 25% of the original issuance.
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 June 9, 2025, MicroStrategy Incorporated, operating as Strategy, announced updates regarding its at-the-market offering programs and bitcoin holdings. The company sold shares of its series A perpetual strike preferred stock, raising significant proceeds, and acquired additional bitcoin using these funds. The updates reflect Strategy’s ongoing efforts to manage its capital and digital asset portfolio, potentially impacting its financial strategy and market positioning.
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 June 5, 2025, Strategy announced an underwriting agreement with Barclays Capital Inc. for the issuance and sale of 11,764,700 shares of its 10.00% Series A Perpetual Stride Preferred Stock at $85.00 per share, expected to settle on June 10, 2025. The offering aims to raise approximately $979.7 million, which will be used for general corporate purposes, including acquiring Bitcoin and working capital. This move is part of Strategy’s broader strategy to strengthen its position in the digital asset market, offering stakeholders potential long-term value creation.
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 June 2, 2025, Strategy announced its intention to conduct an initial public offering of 2,500,000 shares of its 10.00% Series A Perpetual Stride Preferred Stock, subject to market conditions. The proceeds from this offering are intended for general corporate purposes, including the acquisition of Bitcoin and working capital. The offering, managed by major financial institutions, is expected to enhance the company’s financial flexibility and support its strategic initiatives in the digital asset space.
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 June 2, 2025, Strategy announced updates regarding its at-the-market offering programs and bitcoin holdings. Between May 26 and June 1, 2025, the company sold shares from its STRK and STRF ATM programs, raising a total of $74.6 million. Additionally, Strategy acquired 705 bitcoins for $75.1 million, using proceeds from these ATM programs. The company also declared quarterly cash dividends for its STRK and STRF shares, payable on June 30, 2025. These actions reflect Strategy’s ongoing efforts to enhance its financial position and shareholder value.
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 May 26, 2025, Strategy announced updates on its at-the-market offering programs and Bitcoin holdings. During the period from May 19 to May 25, 2025, the company raised $427 million through its ATM programs and acquired 4,020 Bitcoins, bringing its total holdings to 580,250 Bitcoins. This strategic move reinforces Strategy’s position as a major player in the Bitcoin market, potentially impacting its stakeholders by enhancing its digital asset portfolio and market influence.
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 May 22, 2025, Strategy announced a sales agreement with TD Securities, Barclays Capital, and The Benchmark Company to issue and sell up to $2.1 billion of its 10.00% Series A Perpetual Strife Preferred Stock. The company plans to use the proceeds for general corporate purposes, including Bitcoin acquisition and working capital, while sales will be conducted through an at-the-market offering. The announcement highlights Strategy’s ongoing commitment to leveraging its financial strategies to enhance its market position and support its Bitcoin-centric treasury 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.
Strategy, operating under the name MicroStrategy Incorporated, is involved in the technology sector, focusing on bitcoin investments and securities offerings. On May 19, 2025, the company announced updates on its at-the-market offering programs and bitcoin holdings for the period of May 12 to May 18, 2025. They sold 1,712,708 MSTR shares and 621,555 STRK shares, raising a total of $765.4 million. Additionally, they acquired 7,390 bitcoins, bringing their total holdings to 576,230 bitcoins. A class action lawsuit was filed against the company on May 16, 2025, alleging misleading statements regarding their bitcoin investment 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 May 12, 2025, Strategy announced updates on its at-the-market offering programs and bitcoin holdings. Between May 5 and May 11, 2025, the company sold 3,222,875 MSTR shares and 273,987 STRK shares, generating net proceeds of $1.34 billion. Additionally, Strategy acquired 13,390 bitcoins during the same period, using proceeds from these offerings, bringing its total bitcoin holdings to 568,840 with an aggregate purchase price of $39.41 billion. These strategic financial maneuvers are likely to impact the company’s market positioning and stakeholder interests significantly.
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 May 5, 2025, MicroStrategy Incorporated, operating as Strategy, announced updates regarding its at-the-market offering programs and bitcoin holdings. The company reported that during the period from April 28 to May 4, 2025, it sold 353,825 MSTR shares for $128.5 million and 575,392 STRK shares for $51.8 million. Additionally, Strategy acquired 1,895 bitcoins at an aggregate purchase price of $180.3 million, increasing its total holdings to 555,450 bitcoins valued at $38.08 billion. These transactions were funded through proceeds from its ATM programs, highlighting Strategy’s ongoing strategic focus on leveraging its financial instruments to bolster its bitcoin investments.
On April 28, 2025, MicroStrategy Incorporated, operating under the name Strategy, announced updates regarding its at-the-market (ATM) offering programs and bitcoin holdings. The company reported that between April 21 and April 27, 2025, it sold 4,020,000 MSTR shares, generating net proceeds of $1.40 billion, and 435,069 STRK shares, resulting in $37.5 million. Additionally, Strategy acquired 15,355 bitcoins for $1.42 billion, raising its total bitcoin holdings to 553,555 with an aggregate purchase price of $37.90 billion. These updates reflect Strategy’s continued focus on leveraging its ATM programs and bitcoin investments to bolster its financial position.
On April 21, 2025, Strategy announced updates regarding its at-the-market offering programs and Bitcoin holdings. Between April 14 and April 20, 2025, the company sold 1,755,000 MSTR shares, generating $547.7 million, and 91,213 STRK shares, raising $7.8 million. The proceeds from these sales were used to acquire 6,556 Bitcoins, bringing the company’s total Bitcoin holdings to 538,200, with an aggregate purchase price of $36.47 billion. These actions underscore Strategy’s ongoing commitment to leveraging its capital market activities to bolster its cryptocurrency portfolio, potentially enhancing its market position and offering significant implications for stakeholders.
On April 14, 2025, Strategy announced updates to its at-the-market offering programs and bitcoin holdings. Between April 7 and April 13, 2025, the company sold 959,712 shares of its Class A Common Stock, raising $285.7 million, and acquired 3,459 bitcoins for $285.8 million. These transactions reflect Strategy’s ongoing efforts to manage its securities and cryptocurrency assets effectively, potentially impacting its financial strategy and market positioning.
MicroStrategy Incorporated has highlighted potential challenges related to its Perpetual Strike Preferred Stock and its substantial indebtedness. The company anticipates that regulatory actions could impact investors’ ability to engage in convertible arbitrage strategies, potentially affecting the trading price and liquidity of its preferred stock. Additionally, MicroStrategy’s significant debt load, which includes various convertible notes, may limit its financial flexibility and ability to pursue its bitcoin strategy and other business opportunities. The company faces risks related to its ability to service its debt, which could lead to financial instability or necessitate asset sales or restructuring.
Strategy, operating as MicroStrategy Incorporated, announced updates to its at-the-market offering programs and bitcoin holdings as of March 31, 2025. The company sold 3,645,528 shares of its Class A Common Stock, generating $1.20 billion in net proceeds, and 213,807 shares of its 8.00% series A perpetual strike preferred stock, raising $18.52 million. Additionally, Strategy completed a public offering of 8,500,000 shares of its 10.00% Series A Perpetual Strife Preferred Stock, expecting net proceeds of approximately $711.2 million. In the same period, the company acquired 22,048 bitcoins, bringing its total holdings to 528,185 bitcoins, with a total purchase price of $35.63 billion.
Between March 17 and March 23, 2025, Strategy sold 1,975,000 shares of its class A common stock, generating approximately $592.6 million, and 13,100 shares of its preferred stock, raising about $1.1 million. The proceeds were used to purchase 6,911 bitcoins for $584.1 million, increasing the company’s total bitcoin holdings to approximately 506,137 bitcoins, acquired at an average price of $66,608 per bitcoin. This move underscores Strategy’s aggressive investment in bitcoin, potentially impacting its market positioning and stakeholder interests.
MicroStrategy Incorporated, operating as Strategy, announced that between March 10 and March 16, 2025, it did not sell any shares of its class A common stock under its at-the-market offering program. However, during the same period, the company sold 123,000 shares of its 8.00% series A perpetual strike preferred stock, generating approximately $10.7 million in net proceeds. Additionally, the company used these proceeds to acquire approximately 130 bitcoins at an average price of $82,981 per bitcoin, increasing its total bitcoin holdings to approximately 499,226 bitcoins.