15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $477M | -$3.8B | 68.7% | -1140.8% | -$75M | $8.2B | $2.3B |
| 2024 | $463M | -$1.2B | 72.1% | -399.8% | -$56M | $7.2B | $38M |
| 2023 | $496M | $429M | 77.8% | -23.2% | $10M | $2.2B | $47M |
| 2022 | $499M | -$1.5B | 79.4% | -255.5% | $725000 | $2.4B | $44M |
| 2021 | $511M | -$535M | 82.0% | -153.6% | $91M | $2.2B | $63M |
| 2020 | $481M | -$8M | 81.1% | -2.8% | $50M | $486M | $60M |
| 2019 | $486M | $34M | 79.4% | -0.2% | $51M | — | $457M |
| 2018 | $498M | $23M | 80.0% | 0.8% | $4M | — | $110M |
| 2017 | $504M | $18M | 80.8% | 14.5% | $74M | — | $420M |
| 2016 | $514M | $92M | 81.9% | 21.3% | $108M | — | $402M |
| 2015 | — | $106M | — | — | $146M | — | $292M |
| 2014 | — | $5M | — | — | $2M | — | $147M |
| 2013 | — | $83M | — | — | $19M | — | $220M |
| 2012 | — | $21M | — | — | $20M | — | $224M |
| 2011 | — | $18M | — | — | $24M | — | $200M |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $124M | -$12.5B | 67.1% | -11641.5% | $13M | $8.2B | $2.2B |
| Dec '25 | $123M | -$12.4B | 66.1% | -14185.0% | -$22M | $8.2B | $2.3B |
| Sep '25 | $129M | $2.8B | 70.5% | 3023.4% | -$11M | $8.2B | $54M |
| Jun '25 | $114M | $10.0B | 68.8% | 12256.3% | -$37M | $8.2B | $50M |
| Mar '25 | $111M | -$4.2B | 69.4% | -5331.4% | -$5M | $8.1B | $60M |
| Dec '24 | $121M | -$671M | 71.7% | -842.1% | -$18M | $7.2B | $38M |
| Sep '24 | $116M | -$340M | 70.4% | -372.7% | -$41M | $4.2B | $46M |
| Jun '24 | $111M | -$103M | 72.2% | -179.7% | -$24M | $3.8B | $67M |
| Mar '24 | $115M | -$53M | 74.0% | -176.8% | $27M | $3.6B | $81M |
| Dec '23 | $124M | $89M | 77.3% | -34.4% | $837000 | $2.2B | $47M |
| Sep '23 | $129M | -$143M | 79.4% | -19.5% | -$9M | $2.2B | $45M |
| Jun '23 | $120M | $22M | 77.5% | -22.2% | -$19M | $2.2B | $66M |
| Mar '23 | $122M | $461M | 77.1% | -16.7% | $37M | $2.2B | $94M |
| Dec '22 | $133M | -$250M | 79.8% | -146.1% | -$19M | $2.4B | $44M |
| Sep '22 | $125M | -$27M | 79.8% | 4.8% | -$2M | $2.4B | $60M |
| Jun '22 | $122M | -$1.1B | 79.4% | -752.1% | -$22M | $2.4B | $69M |
| Mar '22 | $119M | -$131M | 78.5% | -142.5% | $43M | $2.4B | $93M |
| Dec '21 | $135M | -$90M | 82.2% | -102.2% | $2M | $2.2B | $63M |
| Sep '21 | $128M | -$36M | 82.6% | -38.8% | $13M | $2.2B | $57M |
| Jun '21 | $125M | -$299M | 81.6% | -330.5% | $13M | $2.2B | $56M |
How the market has priced STRF against its own fundamentals since 2025-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Strategy Inc's revenue has declined 0.1% per year. These are computed facts, not advice.
As of FY2025, Strategy Inc reported $8.2B of total debt against $2.3B of cash.
In FY2025, gross margin was 68.7%, operating margin -1140.8%, and net margin -806.3%.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.