MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 2.39B | 2.56B | 213.95M | 213.46M | 203.61M | 252.32M | 186.04M | 208.27M | 241.59M | 267.89M | 199.56M | 209.63M | 259.68M | 264.57M | 202.29M | 219.68M | 246.99M | 267.96M | 197.62M | 208.46M |
| Cash & Short-Term Investments | 2.21B | 2.3B | 54.28M | 50.09M | 62.26M | 38.12M | 46.34M | 66.92M | 81.33M | 46.82M | 45.01M | 65.97M | 94.31M | 43.84M | 60.39M | 69.39M | 92.68M | 63.36M | 56.98M | 56.4M |
| Cash Only | 2.21B | 2.3B | 54.28M | 50.09M | 62.26M | 38.12M | 46.34M | 66.92M | 81.33M | 46.82M | 45.01M | 65.97M | 94.31M | 43.84M | 60.39M | 69.39M | 92.68M | 63.36M | 56.98M | 56.4M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 122.26M | 205.75M | 113.41M | 117.87M | 107.28M | 181.2M | 107.17M | 112.23M | 115.15M | 183.81M | 128.65M | 121.9M | 140.18M | 189.28M | 109.93M | 118.64M | 126.93M | 189.28M | 123.75M | 131.52M |
| Days Sales Outstanding | 120.4 | 119.37 | 82.67 | 89.48 | 116.89 | 109.9 | 86.95 | 92.84 | 118.03 | 115.46 | 89.02 | 99.04 | 121.61 | 103.83 | 83.87 | 91.53 | 119.3 | 107.05 | 91.74 | 102.41 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | 6.93 | - | - | - | - | - | - | - |
| Other Current Assets | 61.75M | 56.92M | 46.26M | 45.5M | 34.07M | 33M | 32.53M | 29.11M | 45.12M | 37.26M | 25.91M | 21.77M | 23.03M | 31.45M | 6.58M | 6.16M | 6.26M | 1.08M | 1.15M | 1.21M |
| Total Non-Current Assets | 51.88B | 59.08B | 73.41B | 64.56B | 43.72B | 25.59B | 8.16B | 6.84B | 6.11B | 4.49B | 3.17B | 3.15B | 2.77B | 2.15B | 2.34B | 2.35B | 3.39B | 3.29B | 2.79B | 2.42B |
| Property, Plant & Equipment | 86.55M | 75.83M | 79.19M | 81.78M | 81.41M | 80.89M | 82.83M | 81.92M | 84.2M | 86.28M | 84.73M | 88.77M | 90.99M | 93.61M | 95.94M | 99.75M | 100.32M | 103.35M | 106.89M | 110M |
| Fixed Asset Turnover | 1.53x | 1.59x | 1.60x | 1.40x | 1.37x | 1.47x | 1.41x | 1.34x | 1.35x | 1.46x | 1.49x | 1.34x | 1.32x | 1.40x | 1.28x | 1.22x | 1.17x | 1.28x | 1.18x | 1.13x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 58.85B | 73.21B | 64.36B | 43.55B | 23.91B | 6.85B | 5.69B | 5.07B | 3.63B | 2.45B | 2.32B | 2B | 1.84B | 1.99B | 1.99B | 2.9B | 2.85B | 2.41B | 2.05B |
| Long-Term Investments | 0 | 0 | 11.1M | 10.4M | 6.3M | 6.8M | 5.4M | 5.4M | 2.7M | 0 | 0 | 1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.05B |
| Other Non-Current Assets | 51.79B | 142.58M | 103.24M | 99.26M | 76.96M | 68.99M | 45.71M | 38.05M | 29.06M | 24.3M | 24.16M | 21.32M | 23.82M | 23.92M | 20.99M | 17.79M | 18.18M | 15.82M | 14.86M | -2.04B |
| Total Assets | 54.27B | 61.64B | 73.62B | 64.77B | 43.92B | 25.84B | 8.34B | 7.05B | 6.35B | 4.76B | 3.37B | 3.36B | 3.03B | 2.41B | 2.55B | 2.57B | 3.64B | 3.56B | 2.99B | 2.62B |
| Asset Turnover | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.01x | 0.02x | 0.02x | 0.02x | 0.03x | 0.04x | 0.04x | 0.04x | 0.05x | 0.05x | 0.04x | 0.03x | 0.04x | 0.05x | 0.05x |
| Asset Growth % | 23.56% | 138.52% | 782.34% | 818.37% | 591.48% | 442.65% | 147.29% | 109.72% | 109.87% | 97.59% | 32.56% | 30.94% | -16.82% | -32.24% | -14.77% | -2.13% | 48.93% | 142.71% | 286.37% | 215.03% |
| Total Current Liabilities | 395.06M | 456.49M | 324.09M | 314.57M | 308.69M | 355.38M | 288.11M | 446.06M | 309.81M | 323.27M | 267.72M | 272.93M | 312.4M | 317.4M | 260.52M | 274.1M | 304.88M | 311.99M | 253.91M | 275M |
| Accounts Payable | 44.66M | 50.34M | 48.72M | 44.22M | 47.02M | 33.4M | 45.71M | 44.19M | 41.87M | 32.63M | 34.31M | 33.66M | 50.6M | 42.98M | 36.85M | 35.96M | 44.39M | 46.08M | 32.69M | 28.24M |
| Days Payables Outstanding | 105.85 | 109.31 | 112.47 | 116.12 | 106.52 | 106.5 | 120.4 | 126.57 | 112.92 | 109.1 | 117.27 | 141.37 | 150.71 | 137.4 | 131.93 | 145.05 | 158.56 | 150.97 | 125.58 | 107.44 |
| Short-Term Debt | 31.4M | 31.31M | 316K | 349K | 525K | 10.9M | 509K | 145.12M | 492K | 10.95M | 475K | 468K | 460K | 454K | 0 | 0 | 0 | 0 | 9.76M | 10M |
| Deferred Revenue (Current) | 231.22M | 272.12M | 200.64M | 214.25M | 215.69M | 237.97M | 184.4M | 204.84M | 215.96M | 228.16M | 179.17M | 195.82M | 211.77M | 217.43M | 165.93M | 188.1M | 206.22M | 209.86M | 160.7M | 182.82M |
| Other Current Liabilities | 87.78M | 32.74M | 74.41M | 50.13M | 5.97M | 5.55M | 5.8M | 5.07M | 10.88M | 1.49M | 10.37M | 1.49M | 10.37M | 2.83M | 46.35M | 2.27M | 0 | 1.49M | 0 | 0 |
| Current Ratio | 6.05x | 5.62x | 0.66x | 0.68x | 0.66x | 0.71x | 0.65x | 0.47x | 0.78x | 0.83x | 0.75x | 0.77x | 0.83x | 0.83x | 0.78x | 0.80x | 0.81x | 0.86x | 0.78x | 0.76x |
| Quick Ratio | 6.05x | 5.62x | 0.66x | 0.68x | 0.66x | 0.71x | 0.65x | 0.47x | 0.78x | 0.83x | 0.75x | 0.77x | 0.82x | 0.83x | 0.78x | 0.80x | 0.81x | 0.86x | 0.78x | 0.76x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | -22.17 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 8.24B | 10.14B | 15.18B | 14.09B | 10.09B | 7.26B | 4.28B | 3.77B | 3.64B | 2.27B | 2.27B | 2.27B | 2.27B | 2.48B | 2.49B | 2.48B | 2.47B | 2.27B | 2.27B | 2.27B |
| Long-Term Debt | 8.17B | 8.2B | 8.17B | 8.16B | 8.14B | 7.19B | 4.21B | 3.7B | 3.56B | 2.18B | 2.18B | 2.18B | 2.18B | 2.38B | 2.38B | 2.37B | 2.36B | 2.16B | 2.15B | 2.15B |
| Capital Lease Obligations | 60.86M | 46.13M | 48.16M | 51.22M | 53.69M | 56.4M | 57.49M | 56.54M | 58.43M | 61.09M | 59.72M | 63.81M | 65.36M | 67.34M | 69.28M | 72.16M | 73.96M | 76.61M | 78.94M | 80.9M |
| Deferred Tax Liabilities | 1.38M | 1.93B | 6.95B | 5.87B | 1.88B | 407K | 357K | 357K | 357K | 357K | 198K | 198K | 198K | 198K | 0 | 105K | 109K | 109K | 1.81M | 1.81M |
| Other Non-Current Liabilities | 4.82M | -41.4M | 4.79M | 4.67M | 4.44M | 5.38M | 5.68M | 5.96M | 17.55M | 22.21M | 18.23M | 17.83M | 17.68M | 17.12M | 30.09M | 25.71M | 26.35M | 26.22M | 28.93M | 31.04M |
| Total Liabilities | 8.63B | 10.6B | 15.5B | 14.4B | 10.39B | 7.61B | 4.57B | 4.22B | 3.95B | 2.6B | 2.53B | 2.54B | 2.58B | 2.79B | 2.75B | 2.76B | 2.78B | 2.58B | 2.52B | 2.55B |
| Total Debt | 136.92M | 8.28B | 8.22B | 8.21B | 8.19B | 7.26B | 4.27B | 3.91B | 3.62B | 2.25B | 2.24B | 2.24B | 2.24B | 2.45B | 2.45B | 2.45B | 2.44B | 2.23B | 2.23B | 2.23B |
| Net Debt | -2.07B | 5.98B | 8.17B | 8.16B | 8.13B | 7.22B | 4.22B | 3.84B | 3.53B | 2.21B | 2.2B | 2.18B | 2.15B | 2.4B | 2.39B | 2.38B | 2.34B | 2.17B | 2.17B | 2.18B |
| Debt / Equity | 0.00x | 0.16x | 0.14x | 0.16x | 0.24x | 0.40x | 1.13x | 1.38x | 1.51x | 1.04x | 2.67x | 2.74x | 5.06x | - | - | - | 2.82x | 2.28x | 4.84x | 28.83x |
| Debt / EBITDA | - | - | 2.11x | 0.58x | - | - | - | - | - | - | - | - | - | - | 298.03x | - | - | - | - | - |
| Net Debt / EBITDA | - | - | 2.10x | 0.58x | - | - | - | - | - | - | - | - | - | - | 290.67x | - | - | - | - | - |
| Interest Coverage | -8.19x | -1575.57x | 205.94x | 783.58x | -346.39x | -61.36x | -25.40x | -12.90x | -17.00x | -4.08x | -2.07x | -2.43x | 1.54x | 72.81x | 0.78x | -69.24x | -15.19x | 0.78x | -4.51x | -94.33x |
| Total Equity | 45.64B | 51.04B | 58.12B | 50.37B | 33.53B | 18.23B | 3.77B | 2.83B | 2.4B | 2.16B | 840.39M | 819.12M | 443.21M | -383.12M | -200.29M | -187.07M | 863M | 978.96M | 461.31M | 77.42M |
| Equity Growth % | 36.12% | 179.99% | 1440.08% | 1676.88% | 1296.84% | 742.04% | 349.03% | 246.08% | 441.53% | 665.09% | 519.59% | 537.87% | -48.64% | -139.14% | -143.42% | -341.63% | 136.41% | 77.01% | 18.5% | -83.11% |
| Book Value per Share | 136.67 | 173.62 | 191.18 | 169.01 | 130.72 | 82.26 | 19.13 | 15.87 | 13.96 | 11.78 | 5.91 | 5.09 | 3.04 | -3.36 | -1.77 | -1.66 | 7.64 | 9.17 | 4.61 | 0.79 |
| Total Shareholders' Equity | 45.64B | 51.04B | 58.12B | 50.37B | 33.53B | 18.23B | 3.77B | 2.83B | 2.4B | 2.16B | 840.39M | 819.12M | 443.21M | -383.12M | -200.29M | -187.07M | 863M | 978.96M | 461.31M | 77.42M |
| Common Stock | 346K | 312K | 287K | 281K | 267K | 246K | 212K | 28K | 26K | 26K | 23K | 23K | 22K | 20K | 20K | 20K | 20K | 20K | 19K | 18K |
| Retained Earnings | -6.47B | 6.32B | 18.95B | 16.32B | 6.35B | -2.17B | -1.5B | -1.15B | -1.05B | -999.23M | -1.09B | -944.92M | -967.16M | -1.43B | -1.18B | -1.15B | -89.31M | 41.44M | 131.42M | 167.56M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M | -782.1M |
| Accumulated OCI | -7.91M | -5.17M | -5.11M | -5.02M | -11.97M | -15.38M | -9.58M | -13.55M | -13.17M | -11.44M | -15.36M | -13.15M | -13.06M | -13.8M | -18.18M | -13.66M | -9.55M | -7.54M | -6.78M | -5.32M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |