MSTRStrategy Inc
Finance Services
- Revenue
- $477M
- 3.0% YoY
- Operating margin
- -1140.8%
- 185% YoY
- EBITDA
- −$5.4B
- 195% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- $5.0B net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired11% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $511M | $499M | $496M | $463M | $477M | 3.0% |
| Operating income | −$785M | −$1.3B | −$115M | −$1.9B | −$5.4B | 194% |
| Net income | −$535M | −$1.5B | $429M | −$1.2B | −$3.8B | 230% |
| Operating cash flow | $94M | $3M | $13M | −$53M | −$67M | 27% |
| Capex | $3M | $2M | $3M | $3M | $8M | 176% |
| Stock-based comp | $44M | $64M | $70M | $77M | $53M | 31% |
| Buybacks | $0 | $0 | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $757K · 10
- Net
- −$757K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 391 | 258 |
| FY2024 | — | — | 745 | 201 |
| FY2023 | — | — | 163 | 147 |
| FY2022 | — | — | 36 | 89 |
| FY2021 | — | — | 140 | 138 |