Also trades as: MSTR (NASDAQ) · $vol 3238M · STRC (NASDAQ) · $vol 195M · STRK (NASDAQ) · $vol 8M · MSTR.TO (TSX) · $vol 3M · 0A7O.L (LSE) · $vol 2M

$69.87

+0.32 (+0.46%)

After Hours: $70.75 (+0.88, +1.26%)

Weekly Expected Move ±2.0%

$67 $68 $70 $71 $72

NASDAQ · Technology · Software - Application · Tech Score Strong Sell · Power 30 · $975.4M mcap · 14M float · 0.885% daily turnover · Short 43% of daily vol

Credit Risk of going bust: higher than 70% of companies Debt: 10.7% of company value Bonds: none of note held by US funds details ▾

Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.31 (down 98%), Strategy Inc would be worth roughly what it owes.
Total debt $6.77B against a stock market value of $56.27B.
Distance to default 3.42 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $3.37B (short-term plus half of long-term), stock volatility 81.0%; Altman Z'' 3.12. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

C+

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. STRD receives an overall rating of C+. Strongest factors: P/B (5/5). Areas of concern: DCF (1/5), ROE (1/5), ROA (1/5), P/E (1/5).

Rating Change History

Date	From	To
2026-10-12	C	C+
2026-10-01	C+	C
2026-08-18	C	C+
2026-08-10	C+	C
2026-06-23	C	C+
2026-02-11	A-	C
2026-01-20	A	A-
2026-01-03	A-	A

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 37 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. STRD scores highest in Cash Flow (70/100) and lowest in Balance Sheet (0/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

-0.11

Distress Zone

Piotroski F-Score

3/9

✗ ✗ ✗ ✓ ✗ ✓ ✗ ✗ ✓

Beneish M-Score

-5.22

Unlikely Manipulator

Ohlson O-Score

-8.69

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

BB-

Score: 39.1/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: 0.00x

Accruals: -51.8%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. STRD scores -0.11, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. STRD scores 3/9, suggesting weak financial fundamentals — the company fails the majority of these accounting tests. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. STRD's score of -5.22 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. STRD's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. STRD receives an estimated rating of BB- (score: 39.1/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-1.46x

PEG

0.01x

P/S

113.34x

P/B

1.06x

P/FCF

2.17x

P/OCF

—

EV/EBITDA

-1.09x

EV/Revenue

47.44x

EV/EBIT

-1.09x

EV/FCF

2.65x

Earnings Yield

-157.43%

FCF Yield

46.18%

Shareholder Yield

3.56%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. STRD currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.838

NI / EBT

Interest Burden

1.670

EBT / EBIT

EBIT Margin

-43.581

EBIT / Rev

Asset Turnover

0.008

Rev / Assets

Equity Multiplier

1.226

Assets / Equity

ROE

-63.6%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. STRD's ROE of -63.6% is driven by Asset Turnover (0.008), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 349 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$69.55

Median 1Y

$58.85

5th Pctile

$36.87

95th Pctile

$94.71

Ann. Volatility

30.3%

25th–75th percentile 5th–95th percentile Median path Historical

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	19.9%	22.0%	0.7%	-26.7%	-63.6%	-63.56%
ROA	15.5%	17.4%	0.6%	-22.4%	-51.8%	-51.84%
ROIC	17.2%	15.2%	-5.3%	-5.2%	-41.0%	-41.04%
ROCE	21.8%	24.5%	0.9%	1.0%	-41.7%	-41.71%
Gross Margin	68.8%	70.5%	66.1%	67.1%	66.6%	66.64%
Operating Margin	122.6%	-0.0%	-141.8%	-12.0%	-68.1%	-68.08%
Net Margin	87.5%	21.6%	-101.1%	-100.9%	-67.2%	-67.17%
EBITDA Margin	122.6%	30.7%	-141.8%	-3.7%	-67.1%	-67.06%
FCF Margin	-59.6%	31.4%	5.7%	-10.5%	17.9%	17.90%
OCF Margin	-30.5%	-17.8%	-15.4%	-8.7%	-2.4%	-2.35%
ROIC Economic	snapshot only					-39.12%
Cash ROA	snapshot only					-0.02%
Cash ROIC	snapshot only					-0.02%
CROIC	snapshot only					17.97%
NOPAT Margin	snapshot only					-40.89%
Pretax Margin	snapshot only					-72.79%
R&D / Revenue	snapshot only					18.69%
SGA / Revenue	snapshot only					57.04%
SBC / Revenue	snapshot only					3.84%

Valuation

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	—	1.94	60.19	-2.08	-0.64	-1.463
P/S Ratio	0.00	102.08	60.69	51.64	38.77	113.341
P/B Ratio	—	0.43	0.44	0.55	0.43	1.063
P/FCF	-0.00	3.25	10.62	-4.92	2.17	2.165
P/OCF	—	—	—	—	—	—
EV/EBITDA	0.58	1.84	52.57	59.08	-1.09	-1.089
EV/Revenue	71.31	135.67	76.90	63.97	47.44	47.438
EV/EBIT	0.58	1.83	52.33	59.98	-1.09	-1.088
EV/FCF	-1.20	4.33	13.46	-6.10	2.65	2.650
Earnings Yield	—	51.6%	1.7%	-48.1%	-1.6%	-1.57%
FCF Yield	—	30.7%	9.4%	-20.3%	46.2%	46.18%
PEG Ratio	snapshot only					0.011
EV/Gross Profit	snapshot only					70.173
Shareholder Yield	snapshot only					3.56%

Leverage & Solvency

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	0.68	0.66	5.62	6.05	5.39	5.390
Quick Ratio	0.68	0.66	5.62	6.05	5.39	5.390
Debt/Equity	0.16	0.14	0.16	0.18	0.15	0.149
Net Debt/Equity	0.16	0.14	0.12	0.13	0.10	0.095
Debt/Assets	0.13	0.11	0.13	0.15	0.13	0.129
Debt/EBITDA	0.59	0.46	15.38	15.55	-0.31	-0.312
Net Debt/EBITDA	0.58	0.45	11.08	11.39	-0.20	-0.199
Interest Coverage	783.58	168.40	4.56	4.44	-217.25	-217.250
Equity Multiplier	1.29	1.27	1.21	1.19	1.16	1.160
Cash Ratio	snapshot only					4.948
Debt Service Coverage	snapshot only					-217.138
Cash to Debt	snapshot only					0.362
FCF to Debt	snapshot only					1.318
Defensive Interval	snapshot only					36.0 days

Efficiency & Turnover

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.00	0.00	0.01	0.01	0.01	0.008
Inventory Turnover	—	—	—	—	—	—
Receivables Turnover	0.97	2.14	1.78	4.01	4.12	4.124
Payables Turnover	0.81	1.51	2.29	3.50	4.06	4.059
DSO	376	170	205	91	88	88.5 days
DIO	0	0	0	0	0	0.0 days
DPO	451	241	159	104	90	89.9 days
Cash Conversion Cycle	-76	-71	46	-13	-1	-1.4 days
Fixed Asset Turnover	snapshot only					5.757
Cash Velocity	snapshot only					0.203
Capital Intensity	snapshot only					105.474

Growth (YoY)

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	—	—	—	—	3.4%	3.35%
Net Income	—	—	—	—	-4.0%	-4.04%
EPS	—	—	—	—	—	—
FCF	—	—	—	—	2.3%	2.31%
EBITDA	—	—	—	—	-2.5%	-2.55%
Op. Income	—	—	—	—	-2.8%	-2.84%
OCF Growth	snapshot only					66.44%
Asset Growth	snapshot only					-18.85%
Equity Growth	snapshot only					-10.01%
Debt Growth	snapshot only					-17.57%

Growth Quality

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	—	—	—	—	—	—
Earnings Stability	—	—	—	—	—	—
Margin Stability	—	—	—	—	—	—
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.50	0.500
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.000
FCF Positive Streak	0	0	0	0	0	0
Earnings Persistence	—	—	—	—	—	—
Earnings Smoothness	—	—	—	—	—	—
ROE Trend	—	—	—	—	—	—
Gross Margin Trend	—	—	—	—	—	—
FCF Margin Trend	—	—	—	—	—	—
Sustainable Growth Rate	19.8%	21.9%	0.5%	—	—	—
Internal Growth Rate	18.2%	20.8%	0.4%	—	—	—

Cash Flow Quality

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	-0.00	-0.00	-0.15	0.00	0.00	0.000
FCF/OCF	195.41	-176.46	-37.05	121.10	-761.37	-761.367
FCF/Net Income	snapshot only					-0.293
CapEx/Revenue	59.3%	31.5%	5.9%	10.4%	17.9%	17.93%
CapEx/Depreciation	snapshot only					799.841
Accruals Ratio	0.16	0.17	0.01	-0.22	-0.52	-0.518
Sloan Accruals	snapshot only					0.039
Cash Flow Adequacy	snapshot only					-0.001

Dividends & Buybacks

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	—	0.4%	0.5%	1.3%	3.6%	0.00%
Dividend/Share	—	$0.34	$0.36	$1.01	$2.00	$0.00
Payout Ratio	0.5%	0.8%	29.0%	—	—	—
FCF Payout Ratio	—	1.4%	5.1%	—	7.7%	7.70%
Total Payout Ratio	0.5%	0.8%	29.0%	—	—	—
Div. Increase Streak	0	0	0	0	1	0
Chowder Number	—	—	—	—	13.08	13.076
Buyback Yield	—	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	—	-17.8%	-1.4%	-19.7%	-13.8%	-13.83%
Total Shareholder Return	—	-17.3%	-0.9%	-18.4%	-10.3%	-10.27%

DuPont Factors

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.72	0.72	0.89	0.87	0.84	0.838
Interest Burden (EBT/EBIT)	1.00	0.99	0.77	-26.86	1.67	1.670
EBIT Margin	122.49	73.95	1.47	1.07	-43.58	-43.581
Asset Turnover	0.00	0.00	0.01	0.01	0.01	0.008
Equity Multiplier	1.29	1.27	1.21	1.19	1.23	1.226

Per Share

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	—	$40.60	$1.26	$-36.46	$-88.60	$-88.60
Book Value/Share	—	$184.27	$173.62	$136.67	$132.04	$132.04
Tangible Book/Share	—	$-47.84	$173.62	$-18.01	$-12.66	$-12.66
Revenue/Share	—	$0.77	$1.25	$1.47	$1.45	$1.45
FCF/Share	—	$24.18	$7.12	$-15.41	$25.99	$-63.36
OCF/Share	—	$-0.14	$-0.19	$-0.13	$-0.03	$-0.06
Cash/Share	—	$0.17	$7.83	$6.62	$7.14	$7.13
EBITDA/Share	—	$57.00	$1.82	$1.59	$-63.24	$-63.24
Debt/Share	—	$26.07	$28.01	$24.73	$19.72	$19.72
Net Debt/Share	—	$25.90	$20.19	$18.11	$12.59	$12.59

Academic Models

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	-0.107
Altman Z-Prime	snapshot only					-0.645
Piotroski F-Score	2	2	2	2	3	3
Beneish M-Score	—	—	—	—	-5.22	-5.217
Ohlson O-Score	snapshot only					-8.687
Net-Net WC	snapshot only					$-13.30
EVA	snapshot only					$-25340236100.00

Credit

Metric	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only					BB-
Credit Score	53.50	79.15	53.35	49.75	39.15	39.150
Credit Grade	snapshot only					13
Credit Trend	snapshot only					-14.350
Implied Spread (bps)	snapshot only					550.000

STRD NASDAQ

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

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