Strategy (MSTR) Shares Outstanding (Diluted) (2010 - 2026)
Strategy (MSTR) recorded Weighted Average Shares Outstanding (Diluted) of 352.53 million in Q3 2026, up 11.8% from 315.39 million a year earlier and unchanged from the prior quarter.
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Analysis
Strategy (MSTR) Shares Outstanding (Diluted) (2010 - 2026) Analysis & Trends
For FY2025, Strategy reported Weighted Average Shares Outstanding (Diluted) of 277.66 million, up 44.2% from FY2024.
- Annual Weighted Average Shares Outstanding (Diluted) has increased for five straight years, with a five-year compound annual growth rate of 23.5% (FY2020 to FY2025).
- Across earlier years, Weighted Average Shares Outstanding (Diluted) came in at 192.55 million in FY2024 (+16.2%), 165.66 million in FY2023 (+46.3%), 113.21 million in FY2022 (+13.0%) and 100.2 million in FY2021 (+3.5%).
- On a year-over-year basis, Weighted Average Shares Outstanding (Diluted) has increased for 22 consecutive quarters, with growth averaging 37.3% over the last eight quarters.
- The year-over-year growth in Weighted Average Shares Outstanding (Diluted) has ranged between 3.5% (Q4 2021) and 71.8% (Q2 2025) over the last five years.
- Per Business Quant, the preceding three quarters came in at 352.53 million (Q2 2026), 333.91 million (Q1 2026) and 277.66 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 386.60 Bn | 351.42 Bn | 1.93 Bn | 2.57 Bn |
| 2 | Oracle | 343.94 Bn | 216.07 Bn | - | 3.00 Bn |
| 3 | Sap Se | 272.35 Bn | 199.75 Bn | 8.64 Bn | 1.18 Bn |
| 4 | Salesforce | 175.46 Bn | 131.33 Bn | 8.70 Bn | 821.00 Mn |
| 5 | Automatic Data Processing | 122.07 Bn | 108.86 Bn | 2.53 Bn | 403.30 Mn |
| 6 | ServiceNow | 105.47 Bn | 84.73 Bn | 2.90 Bn | 1.04 Bn |
| 7 | Intuit | 94.25 Bn | 73.60 Bn | 3.44 Bn | 277.00 Mn |
| 8 | Relx | 73.66 Bn | 72.75 Bn | - | 1.84 Bn |
| 9 | Strategy | 51.78 Bn | 38.91 Bn | 89.63 Mn | 428.05 Mn |
| 10 | Thomson Reuters | 50.52 Bn | 46.49 Bn | - | 449.53 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 428.05 Mn |
| Jun 30, 2026 | 352.53 Mn |
| Mar 31, 2026 | 333.91 Mn |
| Dec 31, 2025 | 277.66 Mn |
| Sep 30, 2025 | 315.39 Mn |
| Jun 30, 2025 | 306.76 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 | 165.66 Mn |
| Sep 30, 2023 | 142.21 Mn |
| Jun 30, 2023 | 160.95 Mn |
| Mar 31, 2023 | 145.75 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 |
API Access
Strategy Shares Outstanding (Diluted) 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-diluted&ticker=MSTR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding-diluted", "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-diluted&ticker=MSTR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();