One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Strategy Inc
STRC · NMS · Technology · Software - Application
Current price
$98.78
52-week range
$71.25 - $100.42
Market cap
—
Balance sheet
Distressed
-0.63x Concerning
Net debt $4.32B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 4.4% last year.
- Reward Free cash flow was positive in 8/10 years.
- Risk Operating margin compressed from 2.1% to -6808.1% over 3 years.
- Risk Net debt grew 147.0% over 3 years.
What this company does
Strategy Inc
Strategy Inc. has two main parts to its business: it owns a very large amount of Bitcoin, and it sells software that helps other companies analyze their data. Because a huge portion of the company's value is tied to the Bitcoin it holds, its stock is often used as an alternative way for people to invest in the cryptocurrency. This means the company's stock price is heavily influenced by the ups and downs of Bitcoin's price.
How the company got here
Founded in 1989 as MicroStrategy, the company started as a provider of business intelligence software, helping other companies make sense of their data. A major turning point came when it began aggressively buying Bitcoin, transforming its primary mission. To reflect this new focus, it officially changed its name to Strategy Inc in August 2025. This pivot made it the world's first "Bitcoin Treasury Company," using its funds and money raised from investors to continuously buy and hold the digital currency.
What it actually does
Strategy Inc has two main parts to its business. First, it acts like a large-scale Bitcoin savings account, holding a massive amount of the cryptocurrency as its main financial asset. Second, it continues to run its original business of selling sophisticated software that helps large organizations analyze their data. This AI-powered software allows employees, even those without a technical background, to find important trends and insights to help them make better business decisions.
Bitcoin Treasury and Digital Securities
This is the company's largest and most well-known business. Instead of holding cash in the bank like a traditional company, Strategy Inc uses its money, along with funds raised by selling different types of company securities (like stocks and bonds), to buy and hold Bitcoin. This part of the business makes money if the value of Bitcoin goes up. It offers various ways for investors to get exposure to Bitcoin's price movements without having to buy the cryptocurrency directly.
Enterprise Analytics Software
This is the company's original technology business, which it has operated for over 30 years. It sells powerful software tools, like Strategy One and Strategy Mosaic, to large corporations and governments. These tools act like a smart assistant for data, allowing companies to connect to all their different information sources and use artificial intelligence to find patterns, create reports, and make smarter decisions. This segment generates revenue through software licenses and subscription fees, and represents the company's operational cash flow (the cash generated from normal business operations) that can be used to buy more Bitcoin.
What management is betting on now
The company's main strategy is to continue accumulating Bitcoin, believing it will be a valuable asset over the long term. Management is also focused on developing new and innovative financial products, like its various preferred stocks (a type of stock that pays a fixed dividend, or a share of the profits), to attract more investment and fund more Bitcoin purchases. They are also committed to managing these financial products actively, including buying back shares when it's beneficial, to ensure they remain stable and attractive to investors. The company sees a future where it leads in both the digital asset world and the enterprise analytics software market.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-41.39M
FY2024 Q4
$-17.61M
FY2025 Q1
$-5.13M
FY2025 Q2
$-37.01M
FY2025 Q3
$-11.11M
FY2025 Q4
$-22.21M
FY2026 Q1
$13.04M
FY2026 Q2
$-5.91M
Revenue
$122.37M
Net income
$-8.22B
Diluted EPS
-24.45
Operating cash flow
$-4.14M
Free cash flow
$-5.91M
Fetching…
Sources
Revenue
$124.30M
Net income
$-12.54B
Diluted EPS
-38.25
Operating cash flow
$13.99M
Free cash flow
$13.04M
Fetching…
Sources
Revenue
$122.99M
Net income
$-12.44B
Diluted EPS
-39.76
Operating cash flow
$-21.63M
Free cash flow
$-22.21M
Fetching…
Sources
Revenue
$128.69M
Net income
$2.79B
Diluted EPS
8.42
Operating cash flow
$-8.31M
Free cash flow
$-11.11M
Fetching…
Sources
Revenue
$114.49M
Net income
$10.02B
Diluted EPS
32.60
Operating cash flow
$-34.91M
Free cash flow
$-37.01M
Fetching…
Sources
Revenue
$111.07M
Net income
$-4.22B
Diluted EPS
-16.49
Operating cash flow
$-2.39M
Free cash flow
$-5.13M
Fetching…
Sources
Revenue
$120.70M
Net income
$-670.81M
Diluted EPS
4.49
Operating cash flow
$-17.32M
Free cash flow
$-17.61M
Fetching…
Sources
Revenue
$116.07M
Net income
$-340.17M
Diluted EPS
-1.72
Operating cash flow
$-40.97M
Free cash flow
$-41.39M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $98.78
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $4.3B. Interest coverage -0.6x.
Net debt
$4.32B
Interest coverage
-0.63x
Strategy Inc's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
STRC
BASELINE
Strategy Inc
Total debt $6.77B Interest coverage -0.63x This is the baseline the peer rows are being compared against.
Total debt $6.76B Interest coverage 33.10x This peer still has a real interest-payment cushion, while STRC does not.
Total debt $8.42B Interest coverage 24.13x This peer still has a real interest-payment cushion, while STRC does not.
Total debt $8.45B Interest coverage 79.30x This peer still has a real interest-payment cushion, while STRC does not.
Total debt $1.23B Interest coverage 0.21x This peer still has a real interest-payment cushion, while STRC does not.
What you should know
The case for and against STRC
3 Rewards
3 Risks
Rewards
-
Revenue grew 4.4% last year.
-
Free cash flow was positive in 8/10 years.
-
Dividend yield is 12.2% with 2-year payout history.
Risks
-
Operating margin compressed from 2.1% to -6808.1% over 3 years.
-
Net debt grew 147.0% over 3 years.
-
Return on equity was -63.6% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
—
P/B
1.19x
P/S
—
EV/EBITDA
-1.56x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
67.6%
Operating margin
-6,808.1%
Net margin
0.0%
ROE
-63.6%
ROA
-38.7%
Health
Liquidity and balance-sheet strength
Debt / equity
0.15x
Current ratio
5.39x
Quick ratio
5.22x
Total debt
$6.77B
Total cash
$2.45B
Growth
How the business has been compounding
Revenue TTM
$498.35M
Revenue 5Y CAGR
-1.7%
EPS TTM
—
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-20.09M
Free CF TTM
$-75.45M
FCF margin
-15.1%
Dividend
Shareholder payout
Yield
12.2%
Payout ratio
—
Last ex-div date
2026-09-30