Strategy (MSTR) Shares Outstanding (2010 - 2026)
Strategy's Shares Outstanding came in at 352.53 million for Q2 2026, up 28.1% from 275.24 million a year earlier and up 5.6% from the prior quarter.
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Analysis
Strategy (MSTR) Shares Outstanding (2010 - 2026) Analysis & Trends
For FY2025, Strategy's Shares Outstanding was 277.66 million, up 44.2% from FY2024.
- Shares Outstanding has increased in each of the last five years, with a five-year compound annual growth rate of 23.5% (FY2020 to FY2025).
- Going back by year, Shares Outstanding was 192.55 million in FY2024 (+40.8%), 136.71 million in FY2023 (+20.8%), 113.21 million in FY2022 (+13.0%) and 100.2 million in FY2021 (+3.5%).
- The Q2 2026 figure represents the highest quarterly Shares Outstanding in data going back to Q2 2010.
- Year-over-year, Shares Outstanding has increased for 21 consecutive quarters, with growth averaging 41.2% over the last eight quarters.
- The year-over-year growth in Shares Outstanding has ranged between 3.5% (Q4 2021) and 54.1% (Q2 2025) over the last five years.
- Business Quant data shows MSTR's Shares Outstanding at 333.91 million (Q1 2026), 277.66 million (Q4 2025) and 284.38 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 480.73 Bn | 449.68 Bn | 1.64 Bn | 2.40 Bn |
| 2 | Oracle | 399.91 Bn | 272.04 Bn | - | 2.97 Bn |
| 3 | Sap Se | 262.30 Bn | 190.08 Bn | 8.40 Bn | 1.17 Bn |
| 4 | Salesforce | 202.26 Bn | 158.13 Bn | 8.70 Bn | 820.00 Mn |
| 5 | ServiceNow | 153.84 Bn | 132.30 Bn | 2.82 Bn | 1.03 Bn |
| 6 | Automatic Data Processing | 114.84 Bn | 96.97 Bn | 2.51 Bn | 402.30 Mn |
| 7 | Intuit | 91.04 Bn | 70.38 Bn | 3.44 Bn | 276.00 Mn |
| 8 | Relx | 70.51 Bn | 69.60 Bn | - | 1.83 Bn |
| 9 | Strategy | 53.24 Bn | 46.23 Bn | 81.55 Mn | 352.53 Mn |
| 10 | Thomson Reuters | 48.40 Bn | 45.18 Bn | - | 448.85 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 352.53 Mn |
| Mar 31, 2026 | 333.91 Mn |
| Dec 31, 2025 | 277.66 Mn |
| Sep 30, 2025 | 284.38 Mn |
| Jun 30, 2025 | 275.24 Mn |
| Mar 31, 2025 | 256.47 Mn |
| Dec 31, 2024 | 192.55 Mn |
| Sep 30, 2024 | 197.27 Mn |
| Jun 30, 2024 | 178.61 Mn |
| Mar 31, 2024 | 171.94 Mn |
| Dec 31, 2023 | 136.71 Mn |
| Sep 30, 2023 | 142.21 Mn |
| Jun 30, 2023 | 132.47 Mn |
| Mar 31, 2023 | 118.34 Mn |
| Dec 31, 2022 | 113.21 Mn |
| Sep 30, 2022 | 113.08 Mn |
| Jun 30, 2022 | 113.00 Mn |
| Mar 31, 2022 | 112.89 Mn |
| Dec 31, 2021 | 100.20 Mn |
| Sep 30, 2021 | 99.99 Mn |
API Access
Strategy Shares Outstanding 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=shares-outstanding&ticker=MSTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "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=shares-outstanding&ticker=MSTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();