Strategy (MSTR) Shares Outstanding (Diluted) (2010 - 2026)
Strategy (MSTR) recorded Shares Outstanding (Diluted) of 352.53 million in Q2 2026, up 14.9% from 306.76 million a year earlier and up 5.6% from the prior quarter.
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Analysis
Strategy (MSTR) Shares Outstanding (Diluted) (2010 - 2026) Analysis & Trends
For FY2025, Strategy reported Shares Outstanding (Diluted) of 277.66 million, up 44.2% from FY2024.
- Annual 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, 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%).
- The Q2 2026 figure is the highest quarterly Shares Outstanding (Diluted) in data going back to Q2 2010.
- On a year-over-year basis, Shares Outstanding (Diluted) has increased for 21 consecutive quarters, with growth averaging 40.6% over the last eight quarters.
- The year-over-year growth in 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 333.91 million (Q1 2026), 277.66 million (Q4 2025) and 315.39 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Dil.) (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 450.50 Bn | 419.56 Bn | 1.64 Bn | 2.57 Bn |
| 2 | Oracle | 401.01 Bn | 273.57 Bn | - | 3.00 Bn |
| 3 | Sap Se | 257.03 Bn | 178.11 Bn | 8.40 Bn | 1.18 Bn |
| 4 | Salesforce | 187.04 Bn | 142.92 Bn | 8.70 Bn | 821.00 Mn |
| 5 | ServiceNow | 135.91 Bn | 114.37 Bn | 2.82 Bn | 1.03 Bn |
| 6 | Automatic Data Processing | 104.14 Bn | 86.27 Bn | 2.51 Bn | 403.30 Mn |
| 7 | Intuit | 72.30 Bn | 51.65 Bn | 3.44 Bn | 277.00 Mn |
| 8 | Relx | 60.17 Bn | 57.14 Bn | - | 1.84 Bn |
| 9 | Strategy | 55.31 Bn | 48.30 Bn | 81.55 Mn | 352.53 Mn |
| 10 | Workday | 45.49 Bn | 21.61 Bn | 2.00 Bn | 246.31 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 | 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 |
| Sep 30, 2021 | 99.99 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();