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STRFMicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock
$104.00$34.7B
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STRF logo

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock

STRF
NASDAQ · Application Software
$104.00
At close - Sep 18, 4:00 PM EDT - USD
Market Cap$34.73B
P/E-6.8x
52W High$117.05
Volume72.88K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q1

Asset Volatility Obscures Core Software Profitability Risks

MicroStrategy's financial profile is dominated by extreme earnings volatility linked to digital asset fluctuations, which complicates the assessment of its core software business. While the company maintains a structurally high gross margin of 67.1%, the relia...

GrowthMixed
ProfitabilityNegative
ValuationAttractive
TechnicalsNeutral
Explore valuation models
MARKET ACTION

STRF price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

3/11 Beats

EPS beat 3 of last 11 quarters

02

Valuation risk

-115% Peers

P/E is 115% below peer median

03

Market leadership

RS 62 · Avg

Average momentum (RS Rating: 62)

04

Trend Check

N/A

Trend data unavailable

Next CatalystEstimated earnings · Oct 30
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

The core software business exhibits stagnant growth with a 11.9% revenue increase in 2026Q1, yet net income remains highly unstable, swinging from a $10.0B profit in 2025Q2 to a $12.5B loss in 2026Q1.

Analyst Consensus
Hold(0 analysts)
0 Buy0 Hold0 Sell

The Bull Case

Upside Catalysts

Bitcoin Treasury Leadership

MicroStrategy, now doing business as Strategy, is the world's first and largest Bitcoin Treasury Company, positioning it as a leader in Bitcoin adoption and investment.

High-Yield Preferred Stock

The 10.00% Series A Perpetual Strife Preferred Stock offers a fixed 10.00% annual dividend rate, providing attractive income potential for investors.

Strong Liquidation Preference

The preferred stock has an initial liquidation preference of $100 per share, offering downside protection and a clear exit strategy for investors.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/21/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
STRF+7.69%
S&P 500 (^GSPC)+11.49%
1-Year Return
STRF+1.92%
S&P 500 (^GSPC)+15.01%
3-Year Return
STRF+28.22%
S&P 500 (^GSPC)+71.77%
5-Year Return
STRF+28.22%
S&P 500 (^GSPC)+75.57%

Growth & profitability

Annual revenue & EPS trend
Revenue
$477M+3.0% YoY
Net income
-$4.03B-245.6% YoY
Free cash flow
-$22.58B-2.0% YoY
Operating margin
-1140.8%-741.0 pts YoY
ROIC (TTM)-9.9%
Avg ROIC 5Y-
ROE (TTM)-11.6%
Piotroski Score3 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate3/11 (27%)
Revenue Beat Rate4/11 (36%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 30, 2026
-$24.45-1017.0%
vs -$2.19
$122M-0.5%
vs $123M
Q2 2026
May 5, 2026
-$38.25-4337.4%
vs -$0.86
$124M+2.9%
vs $121M
Q1 2026
Feb 5, 2026
-$42.93-53562.5%
vs -$0.08
$123M+3.2%
vs $119M
Q4 2025
Oct 30, 2025
$8.42+8354.9%
vs -$0.10
$129M+10.3%
vs $117M
Historical baseline: 11 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·Sep 2, 2026
Strategy and Carahsoft Partner to Streamline AI-Powered Governed Mission Data for Government Agencies

TYSONS CORNER, Va., and RESTON, Va.

Business Wire·Aug 11, 2026
Strategy to Host Live Q&A with Investors Featuring Michael Saylor and Phong Le

TYSONS CORNER, Va.--(BUSINESS WIRE)--Strategy Inc (Nasdaq: STRF/STRC/STRK/STRD/MSTR; LuxSE: STRE) (“Strategy” or the “Company”) today announced a live Q&A session with investors featuring Founder & Executive Chairman Michael Saylor and Chief Executive Officer Phong Le, moderated by author Natalie Brunell. The session will take place on Monday, August 17, 2026, at 12:00 PM ET, streaming live on X and YouTube. The Video Webinar will be live streamed on X & YouTube, and will be accessi.

Seeking Alpha·Aug 8, 2026
The Way We Chose To Take Exposure To What Strategy Offers Us

Strategy Inc. is no longer attractive due to the collapse of its premium to BTC and excessive leverage risk. MSTR's business model—issuing equity at a premium to buy BTC—faces challenges now that the premium has vanished. Pairing a long in STRF (senior preferred) with a short in STRC (junior preferred) offers safer, asymmetric exposure with superior downside protection.

Defense World·Aug 4, 2026
Strategy Inc 10.00% Series A Perpetual Strife Preferred Stock (NASDAQ:STRF) Stock Price Up 1.2% – Time to Buy?

Strategy Inc 10.00% Series A Perpetual Strife Preferred Stock (NASDAQ: STRF - Get Free Report)'s stock price shot up 1.2% during mid-day trading on Monday. The company traded as high as $96.24 and last traded at $95.91. Approximately 60,275 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of

Filtered for MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred StockMore Headlines
04

Compare before deciding

Benchmark STRF against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
STRF logoSTRFMicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred StockCurrent
$104.00$34.73B-6.832.97%-844.76%-11.64%1.25%
MSTR logoMSTRStrategy Inc
$153.92$50.92B-10.112.97%-9260.26%-97.51%—
STRK logoSTRKStrategy Inc
$75.42$25.18B-4.952.97%-6980.15%-69.69%—
MARA logoMARAMarathon Digital Holdings, Inc.
$13.24$5.05B-3.5933.47%-429.71%-125.83%—
RIOT logoRIOTRiot Platforms, Inc.
$23.75$8.98B-12.1866.36%-196.28%-48.36%—
CLSK logoCLSKCleanSpark, Inc.
$14.47$3.71B12.92102.21%-146.9%-75.24%—

Compare STRF vs Peers

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MSTR

Most directly comparable listed peer for STRF.

Scale Benchmark

vs NVDA

Larger-name benchmark to compare STRF against a more recognizable public peer.

Peer Set

Compare Top 5

vs MSTR, STRK, MARA, RIOT

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

STRF SEC Filings & Documents

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

4
Material company update

Jul 30, 2026·SEC

Material company update

Jul 27, 2026·SEC

Material company update

Jul 20, 2026·SEC

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STRF Frequently Asked Questions

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock's revenue?

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) reported $500.3M in revenue for fiscal year 2025. This represents a 852% increase from $52.6M in 1997.

How fast is MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock growing?

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) grew revenue by 3.0% over the past year. Growth has been modest.

Is STRF profitable?

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) reported a net loss of $34.92B for fiscal year 2025.

Dividend & Returns
Does STRF pay dividends?

Yes, MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) pays a dividend with a yield of 1.25%. This makes it attractive for income-focused investors.

What is STRF's return on equity?

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) has a return on equity (ROE) of -11.6%. Negative ROE indicates the company is unprofitable.

What is MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock's free cash flow?

MicroStrategy Incorporated 10.00% Series A Perpetual Strife Preferred Stock (STRF) generated $11.36B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in STRF back in 1997?

Total return calculator · dividends reinvested · 29+ years of data

See returns →