Last 48 quarters of trend data · Technology · Software - Application
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -12.32 | — | — | 9.57 | 3.10 | — | — | — | — | — | 31.58 | — | 57.07 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 131.25 | 100.54 | 90.81 | 190.28 | 263.08 | 166.42 | 132.94 | 71.64 | 55.19 | 63.58 | 23.31 | 9.02 | 11.44 |
| — | -39.6% | -31.7% | +165.6% | +376.6% | +161.7% | +470.3% | +694.6% | +382.3% | +627.8% | +666.5% | +88.3% | +201.0% | |
| P/B Ratio | 1.08 | 1.10 | 0.88 | 1.69 | 2.39 | 2.21 | 3.52 | 8.81 | 8.68 | 12.21 | 5.36 | 5.56 | 6.73 |
| — | -50.3% | -75.1% | -80.9% | -72.4% | -81.9% | -34.3% | +58.7% | +29.0% | +27.0% | — | — | — | |
| P/FCF | — | 958.62 | — | 1.69 | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | — | 6.81 | 2.29 | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | 6.82 | 2.29 | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Strategy Inc's operating margin was -12.0% in Q1 2026, up 14172.8 pp QoQ and up 5319.4 pp YoY. The trailing four-quarter average of 270.7% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 3.4% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.7% | 67.1% | 66.1% | 70.5% | 68.8% | 69.4% | 71.7% | 70.4% | 72.2% | 74.0% | 77.3% | 79.4% | 77.5% |
| — | -3.4% | -7.8% | +0.1% | -4.8% | -6.1% | -7.3% | -11.3% | -6.8% | -4.1% | -3.1% | -0.4% | -2.4% | |
| Operating Margin | -1140.8% | -12.0% | -14184.8% | 3023.4% | 12256.3% | -5331.4% | -842.1% | -372.7% | -179.7% | -176.8% | -34.4% | -19.5% | -22.2% |
| — | +99.8% | -1584.4% | +911.2% | +6920.0% | -2916.3% | -2350.2% | -1811.1% | -710.1% | -961.2% | +76.5% | -503.5% | +97.1% | |
| Net Margin | -844.8% | -10090.6% | -10261.1% | 2164.1% | 8752.7% | -3797.2% | -555.8% | -293.1% | -92.0% | -46.1% | 71.6% | -110.8% | 18.5% |
| — | -165.7% | -1746.2% | +838.4% | +9610.9% | -8138.4% | -876.3% | -164.5% | -598.1% | -112.2% | +138.0% | -412.9% | +102.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -11.6% | -25.9% | -23.1% | 5.1% | 23.9% | -16.3% | -6.1% | -10.3% | -3.9% | -2.3% | 5.9% | -17.3% | 3.5% |
| — | -59.2% | -279.2% | +149.9% | +709.7% | -600.3% | -202.8% | +40.4% | -211.2% | -100.2% | — | — | +101.1% | |
| ROA | -9.2% | -21.6% | -18.7% | 4.0% | 18.4% | -12.1% | -3.9% | -4.4% | -1.5% | -1.0% | 2.2% | -4.3% | 0.7% |
| — | -79.0% | -375.5% | +191.1% | +1305.0% | -1164.8% | -279.1% | -3.8% | -319.8% | -105.6% | +121.7% | -302.1% | +102.0% | |
| ROIC | -9.9% | -0.0% | -21.2% | 4.7% | 21.0% | -13.2% | -4.6% | -4.4% | -2.4% | -3.0% | -0.9% | -0.6% | -0.7% |
| — | +99.8% | -365.6% | +205.7% | +981.8% | -346.5% | -426.2% | -604.4% | -232.2% | -348.6% | +87.5% | -402.3% | +97.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 817.7% YoY to 6.05x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.00 | 0.16 | 0.14 | 0.16 | 0.24 | 0.40 | 1.13 | 1.38 | 1.51 | 1.04 | 2.67 | 2.74 |
| — | -98.8% | -59.2% | -87.5% | -88.2% | -83.8% | -61.8% | -57.6% | -49.7% | -70.2% | — | — | — | |
| Debt / EBITDA | — | — | — | 2.11 | 0.58 | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 5.62 | 6.05 | 5.62 | 0.66 | 0.68 | 0.66 | 0.71 | 0.65 | 0.47 | 0.78 | 0.83 | 0.75 | 0.77 |
| — | +817.7% | +691.1% | +2.2% | +45.3% | -15.4% | -14.3% | -13.4% | -39.2% | -6.2% | -0.6% | -4.0% | -4.2% | |
| Quick Ratio | 5.62 | 6.05 | 5.62 | 0.66 | 0.68 | 0.66 | 0.71 | 0.65 | 0.47 | 0.78 | 0.83 | 0.75 | 0.77 |
| — | +817.7% | +691.1% | +2.2% | +45.3% | -15.4% | -14.3% | -13.4% | -39.2% | -5.4% | -0.6% | -4.0% | -4.2% | |
| Interest Coverage | -84.06 | -8.19 | -1575.57 | 205.94 | 783.58 | -346.39 | -61.36 | -25.40 | -12.90 | -17.00 | -4.08 | -2.07 | -2.43 |
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Includes 30+ ratios · 48 years · Updated daily
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Strategy Inc's current P/E is -12.3x. The average P/E over the last 2 quarters is 6.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Strategy Inc's current operating margin is -1140.8%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Strategy Inc's business trajectory between earnings reports.