Financials Strategy Incorporated

Equities

MSTR

US5949724083

Software

Market Closed - Nasdaq Other stock markets 21:00:00 10/12/2025 GMT			After hours 21:33:52
184.64 ^USD	-2.30%		183.76	-0.48%

11:45am	Social Buzz: Wallstreetbets Stocks Mostly Advancing Premarket Wednesday; Tesla, Strategy to Open Higher	MT
12-09	Bitcoin's 2025 rollercoaster may end on a low	RE

Projected Income Statement: Strategy Incorporated

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	510.8	499.3	496.3	463.5	475.3	488.6	466.9
Change	-	-2.25%	-0.6%	-6.61%	2.55%	2.8%	-4.44%
EBITDA ¹	101.6	85.04	84.9	31.82	35.06	35.1	-
Change	-	-16.28%	-0.16%	-62.53%	10.21%	0.1%	-
EBIT ¹	46.09	82.86	-115	-1,853	15,132	17,168	29,273
Change	-	79.76%	-238.85%	-1,510.63%	916.61%	13.46%	70.52%
Interest Paid ¹	-29.15	-53.14	-48.96	-61.94	-71	-67.84	-76
Earnings before Tax (EBT) ¹	-811.4	-1,322	-124.5	-1,934	14,046	-93.95	11,896
Change	-	-62.99%	90.58%	-1,453.38%	826.13%	-100.67%	12,761.66%
Net income ¹	-535.5	-1,470	429.1	-1,167	6,156	11,051	17,296
Change	-	-174.48%	129.2%	-371.87%	627.69%	79.5%	56.51%
Announcement Date	01/02/22	02/02/23	06/02/24	05/02/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	122.9	125.4	128	134.5	119.3	122.1	125.4	132.6	121.9	120.4	129.5	124.5	115.2	111.4	116.1	120.7	111.1	114.5	128.7	117.4	120.7	120	130.8	126
Change	-	1.99%	2.11%	5.09%	-11.33%	2.34%	2.69%	5.74%	-8.03%	-1.24%	7.53%	-3.85%	-7.42%	-3.3%	4.15%	3.99%	-7.98%	3.08%	12.41%	-8.76%	2.81%	-0.57%	8.99%	-3.67%
EBITDA ¹	21.44	24.84	30.31	24.99	17.22	17.08	25.83	24.9	-	16.16	27.86	21.29	8.772	4.088	4.857	14.1	2.987	9.336	19.67	10.4	8.4	8.5	8.8	9.8
Change	-	15.87%	22.04%	-17.55%	-31.11%	-0.76%	51.21%	-3.61%	-	-	72.42%	-23.58%	-58.8%	-53.4%	18.81%	190.28%	-78.81%	212.55%	110.72%	-47.14%	-19.23%	1.19%	3.53%	11.36%
EBIT ¹	10.94	10.53	15.5	9.12	14.52	15.01	6.785	23.15	16.16	-26.71	25.12	-42.78	-203.7	-200.3	-432.6	-1,016	-5,921	14,032	3,891	5,901	2,064	3,274	3,492	3,727
Change	-	-3.8%	47.28%	-41.18%	59.27%	3.33%	-54.79%	241.18%	-30.2%	-265.28%	194.05%	-270.34%	-376.11%	1.68%	-116%	-134.97%	-482.58%	336.97%	-72.27%	51.67%	-65.02%	58.61%	6.64%	6.74%
Charge d'intérêts ¹	-2.396	-4.401	-10.72	-11.63	-11.04	-13.19	-14.07	-14.83	-14.93	-11.1	-11.01	-11.93	-11.88	-15.47	-18.13	-16.46	-17.11	-17.9	-18.89	-17.62	-16.8	-16.8	-16.8	-16.8
Earnings before Tax (EBT) ¹	-184.3	-419.5	-59.12	-148.4	-178.8	-926.2	-3.118	-214.4	8.006	-38.05	-33.83	-60.64	-213.9	-215	-478.7	-1,027	-5,942	14,006	3,871	1,720	-23.75	-23.75	-26.4	-20
Change	-	-127.66%	85.91%	-151.08%	-20.44%	-418.08%	99.66%	-6,775.66%	103.73%	-575.31%	11.09%	-79.24%	-252.69%	-0.54%	-122.59%	-114.49%	-478.77%	335.69%	-72.36%	-55.56%	-101.38%	0%	-11.16%	24.24%
Net income ¹	-110	-299.3	-36.14	-89.98	-130.8	-1,062	-27.08	-249.7	461.2	22.24	-143.4	89.13	-53.12	-102.6	-340.2	-670.8	-4,228	9,972	2,645	-22.5	-23.8	-23.8	-26.45	-20.05
Change	-	-172.08%	87.93%	-149%	-45.32%	-712.46%	97.45%	-822%	284.72%	-95.18%	-744.88%	162.13%	-159.6%	-93.08%	-231.69%	-97.2%	-530.29%	335.85%	-73.47%	-100.85%	-5.78%	0%	-11.13%	24.2%
Announcement Date	29/04/21	29/07/21	28/10/21	01/02/22	03/05/22	02/08/22	01/11/22	02/02/23	01/05/23	01/08/23	01/11/23	06/02/24	29/04/24	01/08/24	30/10/24	05/02/25	01/05/25	31/07/25	30/10/25	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Strategy Incorporated

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-	-	2,136	7,154	27,738	7,200	-
Change	-	-	-	234.93%	287.75%	-74.04%	-
Announcement Date	01/02/22	02/02/23	06/02/24	05/02/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Strategy Incorporated

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	-	-	2.938	2.978	5.65	5.3	5
Change	-	-	-	1.36%	89.72%	-6.19%	-5.66%
Free Cash Flow (FCF) ¹	91.13	0.725	9.774	-56.01	-134	-154	-182
Change	-	-99.2%	1,248.14%	-673.05%	-139.24%	-14.93%	-18.18%
Announcement Date	01/02/22	02/02/23	06/02/24	05/02/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Strategy Incorporated

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	-	19.89%	17.03%	17.11%	6.86%	7.38%	7.18%	-
EBIT Margin (%)	-	9.02%	16.6%	-23.18%	-399.82%	3,183.91%	3,513.89%	6,270.12%
EBT Margin (%)	-	-158.86%	-264.88%	-25.09%	-417.37%	2,955.47%	-19.23%	2,547.96%
Net margin (%)	-	-104.84%	-294.39%	86.47%	-251.73%	1,295.39%	2,261.85%	3,704.57%
FCF margin (%)	-	17.84%	0.15%	1.97%	-12.09%	-28.2%	-31.52%	-38.98%
FCF / Net Income (%)	-	-17.02%	-0.05%	2.28%	4.8%	-2.18%	-1.39%	-1.05%
Profitability
ROA	-	-	-	-	-	13.3%	5.9%	7%
ROE	-	-	-	-	-	22.51%	27.74%	6.47%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	25.16x	224.84x	791.08x	205.13x	-
Debt / Free cash flow	-	-	-	218.52x	-127.72x	-207x	-46.75x	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	0.59%	0.64%	1.19%	1.08%	1.07%
CAPEX / EBITDA (%)	-	-	-	3.46%	9.36%	16.11%	15.1%	-
CAPEX / FCF (%)	-	-	-	30.06%	-5.32%	-4.22%	-3.44%	-2.75%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EPS ¹	-0.078	-5.344	-12.98	2.642	-6.06	38.08	38.17	51.41
Change	-	-6,751.28%	-142.95%	120.35%	-329.37%	728.38%	0.24%	34.69%
Nbr of stocks (in thousands)	92,670	106,452	113,177	156,369	245,459	287,354	287,354	287,354
Announcement Date	28/01/21	01/02/22	02/02/23	06/02/24	05/02/25	-	-	-