Strategy (MSTR) FCF Margin (2010 - 2026)
Strategy's FCF Margin was -4.83% in Q2 2026, up 27.50 percentage points from -32.32% a year earlier but down 15.31 percentage points from the prior quarter.
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Analysis
Strategy (MSTR) FCF Margin (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Strategy's FCF Margin was -5.26% through Jun 30, 2026, up 16.62 percentage points year-over-year; for FY2025, it came in at -15.81%, down 3.73 percentage points from FY2024.
- FCF Margin shows a five-year change of -26.20 percentage points (FY2020 to FY2025).
- In earlier years, FCF Margin was -12.09% in FY2024 (-14.05 pp), 1.97% in FY2023 (+1.82 pp), 0.15% in FY2022 (-17.70 pp) and 17.84% in FY2021 (+7.45 pp).
- Quarterly FCF Margin has moved between -35.66% (Q3 2024) and 36.08% (Q1 2022) over five years.
- Compared with a year earlier, FCF Margin was higher in three of the last eight quarters, with an average year-over-year change of -2.09 percentage points.
- The best year-over-year quarter for FCF Margin over five years was Q2 2026 (a gain of 27.50 percentage points); the worst was Q3 2024 (a drop of 28.82 percentage points).
- Per Business Quant data, MSTR's FCF Margin in the three quarters before Q2 2026 was 10.49% (Q1 2026), -18.06% (Q4 2025) and -8.63% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 413.65 Bn | 378.59 Bn | 1.93 Bn | 51.72% |
| 2 | Oracle | 374.28 Bn | 246.84 Bn | - | -27.89% |
| 3 | Sap Se | 294.90 Bn | 222.88 Bn | 8.64 Bn | 20.32% |
| 4 | Salesforce | 186.99 Bn | 142.87 Bn | 8.70 Bn | 9.68% |
| 5 | Automatic Data Processing | 120.08 Bn | 106.87 Bn | 2.53 Bn | 10.90% |
| 6 | ServiceNow | 113.02 Bn | 92.28 Bn | 2.90 Bn | 18.22% |
| 7 | Intuit | 95.72 Bn | 75.07 Bn | 3.44 Bn | 29.95% |
| 8 | Relx | 74.73 Bn | 73.84 Bn | - | - |
| 9 | Strategy | 57.35 Bn | 44.49 Bn | 89.63 Mn | 3.15% |
| 10 | Thomson Reuters | 52.16 Bn | 48.13 Bn | - | 39.44% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 3.15% |
| Jun 30, 2026 | -4.83% |
| Mar 31, 2026 | 10.49% |
| Dec 31, 2025 | -18.06% |
| Sep 30, 2025 | -8.63% |
| Jun 30, 2025 | -32.32% |
| Mar 31, 2025 | -4.62% |
| Dec 31, 2024 | -14.59% |
| Sep 30, 2024 | -35.66% |
| Jun 30, 2024 | -21.58% |
| Mar 31, 2024 | 23.46% |
| Dec 31, 2023 | 0.67% |
| Sep 30, 2023 | -6.84% |
| Jun 30, 2023 | -15.87% |
| Mar 31, 2023 | 30.27% |
| Dec 31, 2022 | -14.21% |
| Sep 30, 2022 | -1.42% |
| Jun 30, 2022 | -17.77% |
| Mar 31, 2022 | 36.08% |
| Dec 31, 2021 | 1.80% |
API Access
Strategy FCF Margin 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=fcf-margin&ticker=MSTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "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=fcf-margin&ticker=MSTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();