Strategy Inc
MSTR Technology Software Application
Strategy Inc’s revenue for fiscal 2025 (year ended December 2025) was $477.2 million, up 2.97% from fiscal 2024. In the quarter to June 2026, revenue grew 6.88%, EPS fell 167.5%, free cash flow grew 6.40% and total debt fell 17.8%, each against the same quarter a year earlier. Member of the Nasdaq 100; insiders bought in the last twelve months.
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Strategy Inc (MSTR) Piotroski F-score
Strategy Inc's Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, up from 2 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | 1.00 |
| FY2024 | 2 | (2.00) |
| FY2023 | 4 | 1.00 |
| FY2022 | 3 | 0.00 |
| FY2021 | 3 | (1.00) |
| FY2020 | 4 | (1.00) |
| FY2019 | 5 | 0.00 |
| FY2018 | 5 | 1.00 |
| FY2017 | 4 | (2.00) |
| FY2016 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (9.67%) | (7.62%) | Fail | 0 |
| Positive operating cash flow | (67.24m) | (53.03m) | Fail | 0 |
| Rising return on assets | (9.67%) | (7.62%) | Fail | 0 |
| Cash flow above net income | 4.16b | 1.11b | Pass | 1 |
| Falling long-term leverage | 0.19 | 0.47 | Pass | 1 |
| Rising current ratio | 5.62 | 0.71 | Pass | 1 |
| No new shares issued | 277,660,000 | 192,549,000 | Fail | 0 |
| Rising gross margin | 68.69% | 72.06% | Fail | 0 |
| Rising asset turnover | 0.01 | 0.03 | Fail | 0 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 3 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| INTU Intuit Inc. compare | 8 |
| WDAY Workday, Inc. compare | 8 |
| ADBE Adobe Inc. compare | 7 |
| TEAM Atlassian Corporation PLC compare | 7 |
| ADSK Autodesk, Inc. compare | 7 |
| ADP Automatic Data Processing, Inc. compare | 6 |
| DDOG Datadog, Inc. compare | 5 |
| CDNS Cadence Design Systems, Inc. compare | 5 |
| MSTR Strategy Inc | 3 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover