The company has successfully deleveraged its capital structure, reducing the debt-to-equity ratio from 1.51 in 2024Q1 to 0.18 in 2026Q1 while expanding total assets to $54.3 billion.
| Total Current Assets | 2.39B | 2.56B | 252.32M | 267.89M | 264.57M | 267.96M |
| Cash & Short-Term Investments | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 59.72M | 1.87M | 33M | 37.26M | 31.45M | 1.08M |
| Total Non-Current Assets | 51.88B | 59.08B | 25.59B | 4.49B | 2.15B | 3.29B |
| Property, Plant & Equipment | 86.55M | 75.83M | 80.89M | 86.28M | 93.61M | 103.35M |
| Fixed Asset Turnover | 6.07x | 6.29x | 5.73x | 5.75x | 5.33x | 4.94x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 51.65B | 58.85B | 23.91B | 3.63B | 1.84B | 2.85B |
| Long-Term Investments | 6.9M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - |
| Total Assets | 54.27B | 61.64B | 25.84B | 4.76B | 2.41B | 3.56B |
| Asset Turnover | 0.01x | 0.01x | 0.02x | 0.10x | 0.21x | 0.14x |
| Asset Growth % | 1762.79% | 138.52% | 442.65% | 97.59% | -32.24% | - |
| Total Current Liabilities | 395.06M | 456.49M | 355.38M | 323.27M | 317.4M | 311.99M |
| Accounts Payable | 44.66M | 50.34M | 52.98M | 43.09M | 42.98M | 46.08M |
| Days Payables Outstanding | - | - | - | - | - | - |
| Short-Term Debt | 31.4M | 31.31M | 517K | 483K | 454K | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - |
| Other Current Liabilities | 54.12M | 69.99M | 58.36M | 50.05M | 53.72M | 54.55M |
| Current Ratio | 6.05x | 5.62x | 0.71x | 0.83x | 0.83x | 0.86x |
| Quick Ratio | 6.05x | 5.62x | 0.71x | 0.83x | 0.83x | 0.86x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 8.24B | 10.14B | 7.26B | 2.27B | 2.48B | 2.27B |
| Long-Term Debt | 8.17B | 8.16B | 7.19B | 2.18B | 2.38B | 2.16B |
| Capital Lease Obligations | 0 | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - |
| Total Liabilities | 8.63B | 10.6B | 7.61B | 2.6B | 2.79B | 2.58B |
| Total Debt | 8.26B | 8.24B | 7.25B | 2.24B | 2.45B | 2.23B |
| Net Debt | 6.05B | 5.93B | 7.21B | 2.2B | 2.4B | 2.17B |
| Debt / Equity | 0.18x | 0.16x | 0.40x | 1.04x | - | 2.28x |
| Debt / EBITDA | -2.41x | - | - | - | - | - |
| Net Debt / EBITDA | -1.77x | - | - | - | - | - |
| Interest Coverage | 4.44x | -83.80x | -30.23x | -1.54x | -23.89x | -26.84x |
| Total Equity | 45.64B | 51.04B | 18.23B | 2.16B | -383.12M | 978.96M |
| Equity Growth % | 3333.07% | 179.99% | 742.04% | 665.09% | -139.14% | - |
| Book Value per Share | 136.67 | 183.83 | 94.68 | 13.07 | -3.38 | 9.77 |
| Total Shareholders' Equity | 45.64B | 51.04B | 18.23B | 2.16B | -383.12M | 978.96M |
| Common Stock | 346K | 312K | 246K | 26K | 20K | 20K |
| Retained Earnings | -6.47B | 6.32B | -2.17B | -999.23M | -1.43B | 41.44M |
| Treasury Stock | 0 | 0 | 0 | -782.1M | -782.1M | -782.1M |
| Accumulated OCI | -7.91M | -5.17M | -15.38M | -11.44M | -13.8M | -7.54M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Digital asset price volatility
As reported in recent financial statements, MicroStrategy's total assets have surged from $6.4 billion in 2024Q1 to $54.3 billion by 2026Q1, a trajectory primarily fueled by aggressive debt-financed digital asset acquisitions rather than organic growth within the company's legacy software business operations.
The rapid expansion of the balance sheet reflects a strategic pivot toward becoming a leveraged digital asset proxy. Investors should monitor whether this asset growth remains sustainable if the underlying digital asset valuation experiences a prolonged contraction, as the current trajectory is highly sensitive to market pricing.
Based on the provided quarterly data, the company's debt-to-equity ratio has compressed significantly from 1.51 in 2024Q1 to 0.18 in 2026Q1, suggesting that management has successfully utilized equity issuance to deleverage the balance sheet while simultaneously increasing the total debt load to $8.3 billion.
This shift indicates a strategic move to lower interest-bearing obligations relative to the total equity base, potentially reducing immediate refinancing risk. However, the reliance on debt to fund asset purchases warrants further investigation into the long-term sustainability of interest coverage if software cash flows remain stagnant.
According to the latest balance sheet figures, the current ratio has improved to 6.05 in 2026Q1 from a low of 0.47 in 2024Q2, indicating a significant strengthening of the company's short-term liquidity position compared to the previous period of constrained cash availability.
The dramatic improvement in the current ratio appears to be a result of deliberate capital management and cash accumulation strategies. While this provides a larger buffer against operational shocks, the liquidity profile remains inherently tied to the company's ability to convert or leverage its digital asset holdings.
As evidenced by the reported figures, goodwill and intangible assets account for $51.6 billion of the $54.3 billion total asset base in 2026Q1, highlighting that the company's valuation is almost entirely dependent on the carrying value of its digital asset treasury rather than physical infrastructure.
The minimal investment in net PPE, which stands at only $86.5 million, confirms the asset-light nature of the software business and the extreme concentration of risk within the digital asset portfolio. This composition suggests that the balance sheet is highly vulnerable to any regulatory or market-driven impairment of its primary intangible assets.
Quick answers to the most common questions about buying STRD stock.
As of 2025, MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock (STRD) had total assets of $61.64B including $2.56B in current assets.
MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock (STRD) carries total debt of $8.24B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock (STRD) has total shareholders' equity (book value) of $51.04B ($183.83 book value per share). Book value represents the net worth of the company belonging to common stock holders.
MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock (STRD) reported a current ratio of 5.62x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.