Strategy (MSTR) EBITDA (2010 - 2026)
Strategy's (MSTR) quarterly EBITDA came in at -$8.3 billion in Q2 2026, down 159.37% year-over-year from $14.0 billion in Q2 2025, and up 42.43% quarter-over-quarter from -$14.5 billion in Q1 2026.
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Analysis
Strategy (MSTR) EBITDA (2010 - 2026) Analysis & Trends
Strategy has disclosed EBITDA across 17 years of filings, most recently posting -$8.3 billion for Q2 2026.
- In Q2 2026, EBITDA fell 159.37% year-over-year to -$8.3 billion; the TTM figure through Jun 2026 stood at -$36.4 billion (down 645.76% YoY), while the FY2025 annual figure was -$5.4 billion, down 193.82% from the prior year.
- EBITDA came in at -$8.3 billion for Q2 2026 at Strategy, up from -$14.5 billion in the prior quarter.
- In the past five years, EBITDA ranged from a high of $14.0 billion in Q2 2025 to a low of -$17.4 billion in Q4 2025.
- Average EBITDA over 5 years is -$1.7 billion, with a median of -$197.0 million recorded in 2022.
- The largest YoY upside for EBITDA was 7106.4% in 2025 against a maximum downside of 2806.9% in 2025.
- Over 5 years, EBITDA stood at -$193.7 million in 2022, then soared by 77.91% to -$42.8 million in 2023, then plunged by 2275.65% to -$1.0 billion in 2024, then plunged by 1616.4% to -$17.4 billion in 2025, then jumped by 52.25% to -$8.3 billion in 2026.
- Per Business Quant data, the three most recent EBITDA figures were -$8.3 billion in Q2 2026, -$14.5 billion in Q1 2026, and -$17.4 billion in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 460.85 Bn | 451.55 Bn | 1.64 Bn | 912.00 Mn |
| 2 | Oracle | 437.09 Bn | 400.44 Bn | - | 6.73 Bn |
| 3 | Sap Se | 258.74 Bn | 237.66 Bn | 8.40 Bn | 3.07 Bn |
| 4 | Salesforce | 195.52 Bn | 184.12 Bn | 8.70 Bn | 2.33 Bn |
| 5 | ServiceNow | 145.61 Bn | 140.94 Bn | 2.82 Bn | 162.00 Mn |
| 6 | Automatic Data Processing | 104.89 Bn | 100.66 Bn | 2.51 Bn | -1.82 Bn |
| 7 | Intuit | 76.97 Bn | 69.77 Bn | 3.46 Bn | 475.00 Mn |
| 8 | Relx | 60.41 Bn | 60.04 Bn | - | - |
| 9 | Strategy | 57.09 Bn | 54.64 Bn | 81.55 Mn | -8.33 Bn |
| 10 | Workday | 46.40 Bn | 42.99 Bn | 2.21 Bn | 313.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -8.32 Bn |
| Mar 31, 2026 | -14.46 Bn |
| Dec 31, 2025 | -17.43 Bn |
| Sep 30, 2025 | 3.90 Bn |
| Jun 30, 2025 | 14.05 Bn |
| Mar 31, 2025 | -5.91 Bn |
| Dec 31, 2024 | -1.01 Bn |
| Sep 30, 2024 | -423.21 Mn |
| Jun 30, 2024 | -193.23 Mn |
| Mar 31, 2024 | -198.10 Mn |
| Dec 31, 2023 | -35.45 Mn |
| Sep 30, 2023 | -20.73 Mn |
| Jun 30, 2023 | -21.71 Mn |
| Mar 31, 2023 | -14.67 Mn |
| Dec 31, 2022 | -187.56 Mn |
| Sep 30, 2022 | 9.97 Mn |
| Jun 30, 2022 | -914.29 Mn |
| Mar 31, 2022 | -165.14 Mn |
| Dec 31, 2021 | -132.63 Mn |
| Sep 30, 2021 | -45.28 Mn |
API Access
Strategy EBITDA 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=ebitda&ticker=MSTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=MSTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();