Strategy, formerly MicroStrategy, is a US company that, besides data analytics software, mainly holds large amounts of Bitcoin. It keeps acquiring Bitcoin, financed through shares, bonds and preferred shares. Its development therefore depends heavily on the price of Bitcoin. As of Oct 11, 2026
Strategy, known under a different name until August 2025, holds Bitcoin as the central reserve asset of its corporate treasury. The company currently finances its Bitcoin acquisitions mainly by issuing common stock and various preferred stocks. In 2025 Strategy issued several classes of preferred stock that are indirectly linked to the common stock and the Bitcoin holdings. The Bitcoin is held almost entirely with custodians in the United States, currently Anchorage, Coinbase and Fidelity. The company also offers Strategy One, an analytics platform with artificial intelligence for mid-sized and large companies. The company sells this mainly through its own field sales force.
Automatically summarized from SEC annual report (10-K, filed Feb 19, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 15, 2026
Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.
In the buy zone
The price is in the pullback area after the last rise – the area our Elliott rule watches as the buy zone.
As of: Close of the 4-hour candle Oct 27, 2026, 18:30 · Buy zone in the trade plan · An observation, not investment advice
Rule (4-hour candles) Zone valid since Oct 19, 2026 · last changed on Oct 20, 2026 Zone historyThe zone history shows since when a buy zone has applied, when it was adjusted and when the price touched or left it. Recording began on Oct 12, 2026, only runs forward and fills nothing in – older zones are marked “known at start of recording” or “already existing when added”.Example: New buy zone on Oct 14, no adjustment since → “zone valid since Oct 14, 2026 · unchanged since”.More in the Academy: Lesson buy zone and Fibonacci
Watcher Full history: every change of the buy zone with its date.
Weekly candles (1W) No entry in the zone history yet (recording since Oct 12, 2026). Zone historyThe zone history shows since when a buy zone has applied, when it was adjusted and when the price touched or left it. Recording began on Oct 12, 2026, only runs forward and fills nothing in – older zones are marked “known at start of recording” or “already existing when added”.Example: New buy zone on Oct 14, no adjustment since → “zone valid since Oct 14, 2026 · unchanged since”.More in the Academy: Lesson buy zone and Fibonacci
Timeframe 1 week · As of Oct 23, 2026 · display only, the rule works on 4-hour candles
Technical view: on this timeframe there is neither a buy zone of the rule nor an Elliott count that follows the rules. We calculate the lines automatically from the completed weekly candles (recalculated every day) – for orientation, not a forecast, not a recommendation, not investment advice. Without a buy zone there is no value axis and no prices.
Big picture (weekly chart) – no buy zone of the rule and no recommendation to buy. The rule measures wave 1 only on the last leg; this chart also places the price within the larger cycle (start = lowest low of the five years before the high, high at least half a year old). Calculated automatically, not investment advice. No value axis and no prices.
Timeframe 1 day · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Flat (running), Corrective pattern (upward), C complete (2 of 3 guidelines) · B = 143% of A; C = 111% of A
Comparison: The rule treats the last rise as the possible start of an upward impulse (without checking its history and structure). The Elliott count reads it as the end of an upward correction (C).
Note: Running flat: rare, only in strong trends.
Note: Structure ambiguous: leg A, C can also be read as three- or five-part.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
Automated analysis (rule-based): the rule calculates waves and Fibonacci levels from the completed daily candles; the chart is recalculated every day. Not investment advice. On this timeframe the chart only shows the rule setup (swing detection 3 × ATR) – the rule itself works on 4-hour candles. Axis and values: distance from the top of the buy zone in %, no prices.
On phones the drawing toolbar is hidden – drawing works better on a desktop.
Timeframe 4 hours · As of Oct 27, 2026
Elliott count: Flat (type known only after C), Corrective pattern (downward), C in progress (3 of 3 guidelines) · B = 125% of A; C = 104% of A
smaller wave degree Smaller wave degree: more sensitive turning-point detection, because no count fits at the usual degree – it describes shorter swings. Provisional – check the count yourself on the chart.
Alternative (not drawn): Impulse, Impulse pattern (upward), Wave 2 in progress (1 of 3 guidelines)
Note: Flat type (regular, expanded, running) can only be decided once C is complete.
Note: Structure open: leg B cannot be broken down into sub-waves on this timeframe – provisional, check the count yourself on the chart.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
Automated analysis (rule-based): the rule calculates waves and Fibonacci levels from the completed 4-hour candles; the chart is recalculated every hour. Not investment advice. Axis and values: distance from the top of the buy zone in %, no prices.
On phones the drawing toolbar is hidden – drawing works better on a desktop.
Timeframe 1 hour · As of Oct 27, 2026 · display only, the rule works on 4-hour candles
Elliott count: Flat (type known only after C), Corrective pattern (downward), C in progress (3 of 3 guidelines) · B = 125% of A; C = 104% of A
Comparison: The rule treats the last rise as the possible start of an upward impulse (without checking its history and structure). The Elliott count reads it as countermove B in a correction.
Note: Flat type (regular, expanded, running) can only be decided once C is complete.
Elliott count calculated automatically by fixed Elliott rules, not investment advice – display only, our buy zones do not use it. Provisional: The count can change with new candles.
Automated analysis (rule-based): the rule calculates waves and Fibonacci levels from the completed hourly candles; the chart is recalculated every hour. Not investment advice. On this timeframe the chart only shows the rule setup (swing detection 4 × ATR) – the rule itself works on 4-hour candles. Axis and values: distance from the top of the buy zone in %, no prices.
On phones the drawing toolbar is hidden – drawing works better on a desktop.
Timeframe 1 week · As of Oct 23, 2026 · from the technical view in the analysis chart
Big picture (weekly chart): possible wave (2) of higher degree – the price has given back 74.3% of the rise since March 2020 and is in the 61.8–78.6% zone (linear scale). Invalid on a weekly close below the start. No buy zone of the rule, not a forecast, not investment advice.
Currently no wave count that follows the rules on weekly candles – so no scenarios. Technical view: Price below the 200-period average, Down trend line broken (close above it), a resistance lies above the price. Not a forecast, not investment advice.
Timeframe 1 day · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario (2 of 3 guidelines, medium) · no alternative Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the daily close stays below the end of C, this applies: flat countermove upward in three waves (Flat, running), C complete – count points to falling prices.
Invalid if the daily close is above the end of C (+47.6% from the top of the zone)
If that breaks, this count no longer applies. Currently no alternative that follows the rules.
Timeframe 4 hours · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario: ahead (3 of 3 guidelines, strong) · Alternative: behind (1 of 3, weak) Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
smaller wave degree Smaller wave degree: more sensitive turning-point detection, because no count fits at the usual degree – it describes shorter swings. Provisional – check the count yourself on the chart. No visible sub-waves in: B.
As long as the 4-hour close stays below the end of B, this applies: flat countermove downward in three waves (Flat, type known only after C), C in progress – count points to falling prices.
Invalid if the 4-hour close is above the end of B (+10.0% from the top of the zone)
If that breaks, the alternative moves to the front: Upward move in five waves (Impulse) – count points to rising prices, as long as the 4-hour close stays above the start of wave 1.
Invalid if the 4-hour close is below the start of wave 1 (−5.6% from the top of the zone)
Timeframe 1 hour · As of Oct 27, 2026 · from the Elliott count in the analysis chart
Weighting Main scenario (3 of 3 guidelines, strong) · no alternative Guidelines (strength of the count)Guidelines are typical features of a count, such as usual Fibonacci lengths or a change in the form of correction. Strong means: at least three quarters met, medium: at least half, otherwise weak. Even a strong count can flip.Example: 3 of 3 guidelines → strong; 2 of 4 → medium; 1 of 3 → weak.More in the Academy: Lesson wave degrees
Weighting by guidelines met – not a probability.
As long as the hourly close stays below the end of B, this applies: flat countermove downward in three waves (Flat, type known only after C), C in progress – count points to falling prices.
Invalid if the hourly close is above the end of B (+9.6% from the top of the zone)
If that breaks, this count no longer applies. Currently no alternative that follows the rules.
The price pulled back into the buy zone (0 to −5.7% from its top) and last closed in the zone. Rule trigger: after the touch a swing high forms, and a daily close is above it. If the price closes below the start of wave 1 (−12.9%), the setup is void. All percentages: distance from the top of the buy zone.
In the TradingView chart: Draw the buy zone in the chart with the Fibonacci tool (instructions next to the wave chart) or as two horizontal lines (tool “Horizontal Line”). If the price closes below the start of wave 1 (−12.9%), the setup is void – without an entry of the rule.
Exit with a gain
Buy zone – Rule trigger: candle close above the swing high
Exit at a loss
Watcher Target 1, Target 2 and stop for this zone – with distance in percent and reward/risk – are available from Watcher. Plans and pricing Percentages from the top of the buy zone (61.8%) – not a forecast.
Rule-based, long only, 4-hour candles. Not a forecast and not investment advice. Lesson: the buy zone in 4 minutes
Strategy (MicroStrategy) · amounts in USD
Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 19, 2026.
Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.
Fiscal year to Dec 31, 2025
68.7% Fiscal year 2025
Rank 79 of 100: higher than 79% of 153 peers (All). strong.
Share of revenue left after the direct cost of the products sold.
−1,140.8% Fiscal year 2025
Rank 2 of 100: higher than 2% of 192 peers (All). weak.
Operating income divided by revenue: what the core business earns before interest and taxes.
−806.3% Fiscal year 2025
Rank 3 of 100: higher than 3% of 237 peers (All). weak.
Profit after all costs, interest and taxes divided by revenue.
−8.7% Fiscal year 2025
Rank 12 of 100: higher than 12% of 218 peers (All). weak.
Net income divided by equity at fiscal year end.
−6.2% Fiscal year 2025 (total assets at year end)
Rank 12 of 100: higher than 12% of 238 peers (All). weak.
Net income divided by total assets at fiscal year end.
71.6% Fiscal year 2025
Rank 90 of 100: higher than 90% of 239 peers (All). strong.
Equity as a share of total assets. Usually low for banks.
−15.8% Fiscal year 2025
Rank 16 of 100: higher than 16% of 213 peers (All). weak.
Free cash flow divided by revenue.
−75.5M USD Fiscal year 2025
Operating cash flow minus capital expenditure on property and equipment.
−1.5% per year
Rank 15 of 100: higher than 15% of 230 peers (All). weak.
Average growth per year over 3 fiscal years.
−0.1% per year
Rank 5 of 100: higher than 5% of 217 peers (All). weak.
Average growth per year over 5 fiscal years.
−1.0% per year
Rank 6 of 100: higher than 6% of 157 peers (All). weak.
Average growth per year over 10 fiscal years.
4 of 9 Fiscal year 2025
Rank 8 of 100: higher than 8% of 134 peers (All). weak.
Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.
0.18 at fiscal year end
Rank 80 of 100: lower than 80% of 199 peers (All). strong.
Long-term financial debt divided by equity.
5.62 at fiscal year end
Rank 92 of 100: higher than 92% of 215 peers (All). strong.
Current assets divided by current liabilities.
+186.7% in 5 years
Rank 6 of 100: lower than 6% of 199 peers (All). weak.
Change in diluted share count. Negative = share buybacks, positive = new shares.
Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.
Price-based criteria (P/E, dividend yield) are shown to signed-in users.
Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.
Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.
No reported values for “Dividend per share” in this interval.
No reported values for “Dividend per share” in this interval.
Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 477.2M USD · Net income −3.8B USD · Net margin −806.3%
Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.
Of 100 USD of revenue, 68.7 USD gross profit remained.
Operating loss: −1,140.8% of revenue
| Item | Amount | of revenue |
|---|---|---|
| Revenue | 477.2M USD | 100.0% |
| Gross profit | 327.8M USD | 68.7% |
| Cost of revenue | 149.4M USD | 31.3% |
| Operating expenses | 5.8B USD | 1,209.5% |
Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.
The operating margin fell in 5 years from 0.8% to −23.2%.
Gross marginOperating marginNet margin Margins above ±200% hidden (revenue very small relative to the result).Return on equity fell in 5 years from −1.4% to −8.7%.
Return on equityReturn on assetsThe equity ratio rose in 5 years from 37.7% to 71.6%.
EquityLong-term debt in USD Long-term debt, depending on the filing, includes the current portion or leases. Definition changes: some years use a different debt tag.The current ratio rose in 5 years from 0.95 to 5.62.
Current ratioFree cash flow fell in 5 years from 50.0M USD to −75.5M USD.
Operating cash flowCapital expenditureFree cash flow in USDThe share count rose in 5 years by 186.7% – more new shares were issued than repurchased (dilution).
Diluted share countFrom annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.
How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.
Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.
Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users. Log in
Each light follows a simple, disclosed rule. This symbol has no sector assignment – lights with a sector comparison stay gray or use only the basic rule.
−0.1% per year, last 5 years
What does this mean? Revenue: over 5 years it fell by 0.1% per year on average.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
– per year, last 5 years
per share: not computable (loss in the first or last year)
What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.
Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.
−806.3% last fiscal year
What does this mean? Of every 100 USD in revenue there was no profit but a loss of 806.35 USD. Five years ago the margin was −1.6%.
Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.
0.22 latest balance sheet
What does this mean? For every 1 USD of equity there is 0.22 USD of financial debt. Without a sector comparison this is hard to put into context.
Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.
– Dividend / earnings per share
What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.
Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.
5 of 10 fiscal years with a profit
What does this mean? In 5 of the last 10 fiscal years the bottom line showed a profit. 5 years ended with a loss.
Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).
| Year | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 477.2M | −3.8B | −806.3% | −15.23 | – | – |
| 2024 | Dec 31, 2024 | 463.5M | −1.2B | −251.7% | −6.06 | – | – |
| 2023 | Dec 31, 2023 | 496.3M | 429.1M | 86.5% | 2.64 | – | – |
| 2022 | Dec 31, 2022 | 499.3M | −1.5B | −294.4% | −12.98 | – | – |
| 2021 | Dec 31, 2021 | 510.8M | −535.5M | −104.8% | −5.34 | – | – |
| 2020 | Dec 31, 2020 | 480.7M | −7.5M | −1.6% | −0.08 | – | – |
| 2019 | Dec 31, 2019 | 486.3M | 34.4M | 7.1% | 0.33 | – | – |
| 2018 | Dec 31, 2018 | 497.6M | 22.5M | 4.5% | 0.20 | – | – |
| 2017 | Dec 31, 2017 | 504.5M | 17.6M | 3.5% | 0.15 | – | – |
| 2016 | Dec 31, 2016 | 512.2M | 90.9M | 17.7% | 0.79 | – | – |
| Quarter | End | Revenue | Net income | Margin | Earnings per share | Dividend per share | Payout |
|---|---|---|---|---|---|---|---|
| Q2/26 | Jun 30, 2026 | 122.4M | −8.2B | −6,717.1% | −24.45 | – | – |
| Q1/26 | Mar 31, 2026 | 124.3M | −12.5B | −10,090.6% | −38.25 | – | – |
| Q4/25* | Dec 31, 2025 | – | −12.4B | – | – | – | – |
| Q3/25 | Sep 30, 2025 | 128.7M | 2.8B | 2,164.1% | 8.42 | – | – |
| Q2/25 | Jun 30, 2025 | 114.5M | 10.0B | 8,752.7% | 32.60 | – | – |
| Q1/25 | Mar 31, 2025 | 111.1M | −4.2B | −3,797.2% | −16.49 | – | – |
| Q4/24* | Dec 31, 2024 | 120.7M | −670.8M | −555.8% | – | – | – |
| Q3/24 | Sep 30, 2024 | 116.1M | −340.2M | −293.1% | −1.72 | – | – |
| Q2/24 | Jun 30, 2024 | 111.4M | −102.6M | −92.0% | −0.57 | – | – |
| Q1/24 | Mar 31, 2024 | 115.2M | −53.1M | −46.1% | −0.31 | – | – |
| Q4/23* | Dec 31, 2023 | 124.5M | 89.1M | 71.6% | – | – | – |
| Q3/23 | Sep 30, 2023 | 129.5M | −143.4M | −110.8% | −1.01 | – | – |
* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.
How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year Growth per year (CAGR)The average annual growth rate over several years, as if the value had grown equally strongly every year. Individual good or bad years even out in it.Example: Revenue €100m → €161m in 5 years → (161 ÷ 100) to the power of 1/5 − 1 = 10% per year.More in the Academy: Lesson debt, dividends and growth over 5 years (otherwise 3 years). Per-share values adjusted for stock split Stock splitA company divides each share into several new ones; the value of the company stays the same. We convert per-share values from before the split to today’s scale.Example: Split 4 : 1, earnings per share before $11.89 → comparable today $2.97.More in the Academy: Lesson revenue, profit and margin 10:1 (between Aug 6, 2024 and Oct 31, 2024). Quarters are labeled by the calendar quarter in which they end.
| Period | Purchases | Sales | Net |
|---|---|---|---|
| 3 months | $00 people | $1.8M2 people | −$1.8M |
| 6 months | $1.0M2 people | $26.4M5 people | −$25.4M |
| 12 months | $2.2M4 people | $36.1M6 people | −$33.9M |
Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.
ATR ATR (Average True Range)The average range per trading day over the last 14 days. It makes distances comparable, whether a stock costs 10 or 1,000.Example: ATR 2.50 at a price of 100: 0.4 ATR is 1.00, i.e. 1%.More in the Academy: Lesson ATR and moving averages as price values only when logged in.
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