Strategy (MSTR) Return on Capital Employed [ROCE] (2011 - 2026)
Strategy's Return on Capital Employed [ROCE] came in at -68.70% for Q2 2026, down 81.03 percentage points from 12.33% a year earlier and down 44.39 percentage points from the prior quarter.
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Analysis
Strategy (MSTR) Return on Capital Employed [ROCE] (2011 - 2026) Analysis & Trends
For FY2025, Strategy's Return on Capital Employed [ROCE] was -12.58%, down 0.18 percentage points from FY2024.
- Return on Capital Employed [ROCE] carries a five-year change of -11.07 percentage points (FY2020 to FY2025).
- Going back by year, Return on Capital Employed [ROCE] was -12.40% in FY2024 (-8.87 pp), -3.53% in FY2023 (+44.32 pp), -47.85% in FY2022 (-12.18 pp) and -35.67% in FY2021 (-34.17 pp).
- The Q2 2026 figure represents the lowest quarterly Return on Capital Employed [ROCE] in data going back to Q3 2011.
- Year-over-year, Return on Capital Employed [ROCE] increased in three of the last eight quarters, with an average year-over-year change of -7.54 percentage points.
- The fastest year-over-year change in Return on Capital Employed [ROCE] over five years came in Q4 2023 (a gain of 55.98 percentage points), and the weakest in Q2 2026 (a drop of 81.03 percentage points).
- Business Quant data shows MSTR's Return on Capital Employed [ROCE] at -24.31% (Q1 2026), -8.10% (Q4 2025) and 15.95% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 450.50 Bn | 419.56 Bn | 1.64 Bn | 28.02% |
| 2 | Oracle | 401.01 Bn | 273.57 Bn | - | 9.81% |
| 3 | Sap Se | 257.03 Bn | 178.11 Bn | 8.40 Bn | 33.74% |
| 4 | Salesforce | 187.04 Bn | 142.92 Bn | 8.70 Bn | 10.68% |
| 5 | ServiceNow | 135.91 Bn | 114.37 Bn | 2.82 Bn | 10.59% |
| 6 | Automatic Data Processing | 104.14 Bn | 86.27 Bn | 2.51 Bn | -46.62% |
| 7 | Intuit | 72.30 Bn | 51.65 Bn | 3.44 Bn | 21.09% |
| 8 | Relx | 60.17 Bn | 57.14 Bn | - | - |
| 9 | Strategy | 55.31 Bn | 48.30 Bn | 81.55 Mn | -68.70% |
| 10 | Workday | 45.49 Bn | 21.61 Bn | 2.00 Bn | 9.56% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -68.70% |
| Mar 31, 2026 | -24.31% |
| Dec 31, 2025 | -8.10% |
| Sep 30, 2025 | 15.95% |
| Jun 30, 2025 | 12.33% |
| Mar 31, 2025 | -21.90% |
| Dec 31, 2024 | -11.07% |
| Sep 30, 2024 | -11.87% |
| Jun 30, 2024 | -7.54% |
| Mar 31, 2024 | -5.69% |
| Dec 31, 2023 | -3.07% |
| Sep 30, 2023 | -8.58% |
| Jun 30, 2023 | -8.03% |
| Mar 31, 2023 | -46.80% |
| Dec 31, 2022 | -59.05% |
| Sep 30, 2022 | -53.11% |
| Jun 30, 2022 | -45.07% |
| Mar 31, 2022 | -23.42% |
| Dec 31, 2021 | -26.51% |
| Sep 30, 2021 | -25.35% |
API Access
Strategy Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=MSTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=MSTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();