Strategy (MSTR) Change in Intangibles (2011 - 2025)
Strategy's Change in Intangibles came in at $4.95 billion for Q3 2025, up 214.4% from $1.58 billion a year earlier but down 26.8% from the prior quarter.
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Analysis
Strategy (MSTR) Change in Intangibles (2011 - 2025) Analysis & Trends
Over the trailing twelve months to Sep 30, 2025, Strategy reported Change in Intangibles of $37.45 billion, up 617.0% year-over-year; for FY2024, it was $22.07 billion.
- Change in Intangibles carries a four-year compound annual growth rate of 110.5% (FY2020 to FY2024).
- Going back by year, Change in Intangibles was $1.9 billion in FY2023 (+560.7%), $287.92 million in FY2022 (-89.0%), $2.63 billion in FY2021 (+133.5%) and $1.13 billion in FY2020.
- The five-year range for quarterly Change in Intangibles is $5.98 million (Q3 2022) to $18.06 billion (Q4 2024).
- Year-over-year, Change in Intangibles has increased for three consecutive quarters, with growth averaging 525.3% over the last six quarters.
- The fastest year-over-year change in Change in Intangibles over five years came in Q3 2024 (growth of 874.2%), and the weakest in Q3 2022 (a decline of 98.6%).
- Business Quant data shows MSTR's Change in Intangibles at $6.77 billion (Q2 2025), $7.66 billion (Q1 2025) and $18.06 billion (Q4 2024) in the three quarters before Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Change Intangibless (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 472.77 Bn | 441.83 Bn | 1.64 Bn | - |
| 2 | Oracle | 381.27 Bn | 253.82 Bn | - | - |
| 3 | Sap Se | 292.64 Bn | 221.00 Bn | 8.40 Bn | - |
| 4 | Salesforce | 204.54 Bn | 160.41 Bn | 8.70 Bn | - |
| 5 | ServiceNow | 164.40 Bn | 142.85 Bn | 2.82 Bn | - |
| 6 | Automatic Data Processing | 120.99 Bn | 103.12 Bn | 2.51 Bn | 116.10 Mn |
| 7 | Intuit | 92.16 Bn | 71.51 Bn | 3.44 Bn | - |
| 8 | Relx | 73.71 Bn | 72.82 Bn | - | - |
| 9 | Thomson Reuters | 54.81 Bn | 51.59 Bn | - | - |
| 10 | Strategy | 51.39 Bn | 44.38 Bn | 81.55 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 4.95 Bn |
| Jun 30, 2025 | 6.77 Bn |
| Mar 31, 2025 | 7.66 Bn |
| Dec 31, 2024 | 18.06 Bn |
| Sep 30, 2024 | 1.58 Bn |
| Jun 30, 2024 | 793.83 Mn |
| Mar 31, 2024 | 1.64 Bn |
| Dec 31, 2023 | 1.21 Bn |
| Sep 30, 2023 | 161.68 Mn |
| Jun 30, 2023 | 347.00 Mn |
| Mar 31, 2023 | 179.28 Mn |
| Dec 31, 2022 | 56.44 Mn |
| Sep 30, 2022 | 5.98 Mn |
| Jun 30, 2022 | 10.00 Mn |
| Mar 31, 2022 | 215.50 Mn |
| Dec 31, 2021 | 591.06 Mn |
| Sep 30, 2021 | 419.87 Mn |
| Jun 30, 2021 | 529.23 Mn |
| Mar 31, 2021 | 1.09 Bn |
| Dec 31, 2020 | 700.00 Mn |
API Access
Strategy Change in Intangibles API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=change-in-intangibles&ticker=MSTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "change-in-intangibles", "ticker": "MSTR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=change-in-intangibles&ticker=MSTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();