Strategy Inc (MSTR)
NASDAQ: MSTR · Real-Time Price · USD
104.25
+11.73 (12.68%)
At close: Aug 19, 2026, 4:00 PM EDT
113.23
+8.98 (8.61%)
Pre-market: Aug 20, 2026, 5:11 AM EDT
Strategy Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | -30,414 | -3,848 | -1,167 | 429.12 | -1,470 | -535.48 |
Depreciation & Amortization | 1.36 | 0.92 | 5.51 | 6.43 | 6.37 | 8.66 |
Other Amortization | 55.2 | 50.01 | 27.64 | 16.91 | 13.19 | 9.9 |
Stock-Based Compensation | 53.25 | 53.37 | 77.12 | 69.57 | 63.62 | 44.13 |
Provision & Write-off of Bad Debts | - | - | - | - | 0.38 | 0.67 |
Other Operating Activities | 30,346 | 3,732 | 1,045 | -489.65 | 1,426 | 554.87 |
Change in Accounts Receivable | 10.89 | 20.41 | 6.34 | 11.69 | -5.29 | 2.62 |
Change in Accounts Payable | 2.44 | 6.56 | 1.14 | -0.63 | -3.52 | 3.75 |
Change in Unearned Revenue | -10.33 | -7.97 | 1.05 | 2.36 | 14.84 | 14.71 |
Change in Other Net Operating Assets | -64.55 | -74.19 | -50.59 | -33.09 | -42.64 | -9.99 |
Operating Cash Flow | -20.09 | -67.24 | -53.03 | 12.71 | 3.21 | 93.83 |
Operating Cash Flow Growth | - | - | - | 295.89% | -96.58% | 75.00% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -21.1 | -45.21 | -13.48 | -2.94 | -2.49 | -2.71 |
Investment in Securities | -732.33 | - | - | - | - | - |
Other Investing Activities | -21,667 | -22,467 | -22,073 | -1,902 | -276.1 | -2,627 |
Investing Cash Flow | -22,421 | -22,512 | -22,086 | -1,905 | -278.59 | -2,629 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | 2,031 | 6,214 | - | 215.79 | 1,550 |
Long-Term Debt Repaid | - | -0.71 | -516.35 | -160.55 | -0.25 | - |
Net Debt Issued (Repaid) | -1,364 | 2,030 | 5,697 | -160.55 | 215.55 | 1,550 |
Issuance of Common Stock | 14,900 | 16,320 | 16,552 | 2,064 | 52.46 | 1,044 |
Repurchase of Common Stock | - | - | -2.17 | -4.11 | -2.08 | -4.7 |
Preferred Dividends Paid | -952.4 | -381.37 | - | - | - | - |
Dividends Paid | -952.4 | -381.37 | - | - | - | - |
Other Financing Activities | -98.45 | -161.05 | -114.2 | -9.14 | -0.74 | -47.13 |
Financing Cash Flow | 24,109 | 24,844 | 22,133 | 1,890 | 265.19 | 2,542 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -6.28 | -0.54 | -2.15 | 0.44 | -3.38 | -2.61 |
Net Cash Flow | 1,662 | 2,263 | -8.78 | -2.2 | -13.57 | 3.68 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | -41.19 | -112.45 | -66.51 | 9.77 | 0.73 | 91.13 |
Free Cash Flow Growth | - | - | - | 1248.14% | -99.20% | 82.37% |
Free Cash Flow Margin | -8.27% | -23.56% | -14.35% | 1.97% | 0.14% | 17.84% |
Free Cash Flow Per Share | -0.13 | -0.41 | -0.34 | 0.06 | 0.01 | 0.91 |
Levered Free Cash Flow | -22,588 | -3,363 | -1,061 | -17.46 | -761.01 | -413.87 |
Unlevered Free Cash Flow | -22,576 | -3,348 | -1,038 | 4.34 | -736.49 | -402.85 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 46.53 | 46.53 | 44.57 | 41.23 | 43.45 | 20.42 |
Cash Income Tax Paid | 13.13 | 13.13 | 1.06 | 30.32 | 21.97 | 7.01 |
Change in Working Capital | -61.55 | -55.19 | -42.06 | -19.67 | -36.61 | 11.09 |