Strategy Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Strategy Inc (MSTR) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Strategy Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 42,059M vs 1,348,876M combined for its competitors (3.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+296.9% annualized vs trailing 12 months), vs accelerating (+2.9%) for its tracked peer group.
- Growth: Strategy Inc generated 32,326.5% revenue growth year over year in Q3 2026, vs 14.4% for its competitors combined.
- Profitability: Its 46.8% net margin compares with 19.7% for the peer group.
- Scale: Strategy Inc ranks #3 of 116 companies by market capitalization in the Miscellaneous Financial Services industry, holding 7.7% of industry market cap.
- Peer revenue share: Strategy Inc accounted for 10.7% of combined revenue among its tracked peer group, up from 0.0% a year earlier.
- Peer differentiation: Revenue per employee of $27.33M compares with $0.56M for the peer group (48.7x).
- Structure: Strategy Inc operates in the following segments: Software Business.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
MSTR Sales vs. its Competitors, Q3 2026
Strategy Inc reported revenue growth of 32,326.47 % year on year in Q3 2026, above its competitors' combined revenue growth of 14.39 %.
With a net margin of 46.81 %, Strategy Inc achieved higher profitability than its competitors (19.70 %).
Strategy Inc generated 10.73 % of the combined sales of its peer group, up from 0.04 % a year earlier.
API endpoints for this dataset
Strategy Inc vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Strategy Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Strategy Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Strategy Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (5) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (2) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Strategy Inc's competitor groups requires a Commercial License.
For context: the Miscellaneous Financial Services industry grew revenue 355.0% year over year, combined, vs 32,326.5% for Strategy Inc. Strategy Inc's share of combined industry revenue moved from 0.16% to 11.18%, a gain of 11.02 percentage points.
Strategy Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Strategy Inc | No | Yes | Yes | No |
| Competitors combined (44) | ||||
| High-Confidence Competitors (10) | ||||
| Similar-Size Competitors (7) | ||||
| Similar Growth & Profitability (8) | 62.50 % (5 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 25.00 % (2 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
MSTR Stock Performance relative to its Competitors
MSTR Stock Performance relative to High-Confidence Competitors
MSTR Stock Performance relative to Similar-Size Competitors
MSTR Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Appian Corporation | 282.9% | Outperformed |
| 2 | Upland Software Inc | 282.9% | Outperformed |
| 3 | Amplitude Inc | 282.9% | Outperformed |
| 4 | Grid Dynamics Holdings Inc | 282.9% | Outperformed |
| 5 | Box Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Strategy Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Strategy Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Strategy Inc |
55,188.36 | 42,058.79 |
 Microsoft Corporation |
3,950,922.06 | 346,445.00 |
 Amazon com Inc |
2,833,889.70 | 798,097.00 |
 Palantir Technologies Inc |
412,806.25 | 7,289.50 |
 Oracle Corporation |
348,300.00 | 73,266.00 |
 Sap Se |
274,303.75 | 41,606.87 |
| SUBTOTAL | 8,756,500.81 | 1,514,091.35 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Strategy Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Strategy Inc's Competitors Named by the Company
Competitive relationships identified from Strategy Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Domo Inc | Company report | 85% |
| Hyperscale Data Inc | Company report | 85% |
| Bnb Plus Corp | Company report | 85% |
| SAP | Company report | 85% |
| Qlik | Company report | 85% |
| Microsoft | Company report | 85% |
| Salesforce | Company report | 85% |
| Oracle | Company report | 85% |
| IBM | Company report | 85% |
| Sui Group Holdings Limited | Company report | 85% |
| Palantir Technologies Inc | Company report | 85% |
| Alteryx Inc | Company report | 85% |
| Talend S a | Company report | 85% |
| Informatica Inc | Company report | 85% |
| Appian Corporation | Company report | 85% |
Company report basis, confidence, active dates and source counts for Strategy Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Strategy Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Strategy Inc | Software Business 100.00 % |
| Microsoft Corporation | Agents and Infra 83.22 % |
| Amazon com Inc | North America 55.86 % |
| Palantir Technologies Inc | Commercial 50.48 % |
| Oracle Corporation | Cloud and Software Business 83.96 % |
| International Business Machines Corporation | Software 45.63 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Strategy Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Strategy Inc | 55,188 | 27,328,647 | -8,879,778 |
| Microsoft Corporation | 3,950,922 | 1,553,565 | 639,601 |
| Amazon com Inc | 2,833,890 | 506,407 | 85,520 |
| Palantir Technologies Inc | 412,806 | 1,645,856 | 831,335 |
| Oracle Corporation | 348,300 | 519,617 | 134,184 |
| Sap Se | 274,304 | 378,244 | 75,299 |
| PEERS TOTAL | 8,701,312 | 561,516 | 130,928 |
Strategy Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Strategy Inc | United States 55.73 % |
| Microsoft Corporation | US 53.60 % |
| Oracle Corporation | Americas 63.46 % |
| International Business Machines Corporation | Americas 50.14 % |
| Salesforce Inc | Americas 64.97 % |
| Servicenow Inc | North America 62.69 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Strategy Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 99 companies in Strategy Inc's industry classification, broader than the peer set above. Market cap in millions of $.Strategy Inc ranks #3 of 99 companies by market capitalization in its industry, holding 7.69 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,648, indicating a moderately concentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | American Express Company | 217,952 | 36.88 % |
| 2 | Nu Holdings Ltd | 59,035 | 9.99 % |
| 3 | Strategy Inc | 45,452 | 7.69 % |
| 4 | Coinbase Global Inc | 35,497 | 6.01 % |
| 5 | Federal National Mortgage Association Fannie Mae | 1,234 | 5.2% |
| 6 | Synchrony Financial | 1,234 | 5.2% |
| 7 | Sofi Technologies Inc | 1,234 | 5.2% |
| 8 | Eason Technology Limited | 1,234 | 5.2% |
| 9 | Circle Internet Group Inc | 1,234 | 5.2% |
| 10 | Federal Home Loan Mortgage Corporation | 1,234 | 5.2% |
Market cap and industry share for the rest of Strategy Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Strategy Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | American Express Company | 217,952 | -11.55 % |
| 2 | Nu Holdings Ltd | 59,035 | -24.95 % |
| 3 | Strategy Inc | 45,452 | -49.41 % |
| 4 | Coinbase Global Inc | 1,234 | 12.3% |
| 5 | Federal National Mortgage Association Fannie Mae | 1,234 | 12.3% |
| 6 | Synchrony Financial | 1,234 | 12.3% |
| 7 | Sofi Technologies Inc | 1,234 | 12.3% |
| 8 | Eason Technology Limited | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Strategy Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Strategy Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Miscellaneous Financial Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (126 companies). See the full Miscellaneous Financial Services industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 99.62 % | 39.67 % (avg) | +59.9 pp |
| Operating Margin | -45.98 % | industry median | -50.6 pp |
| EBITDA Margin | -45.53 % | 5.91 % (avg) | -51.4 pp |
| Capital Intensity (Capex / Revenue) | 0.01 % | 5.16 % (avg) | -5.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Strategy Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | -1.37 % | -2.27 % | -1.15 % | 6.25 % | -2.25 % | -0.79 % | -6.53 % | 3.08 % |
| Operating Margin | 0.80 % | -0.21 % | -2.83 % | -153.60 % | -255.52 % | -23.23 % | - | - |
| Return on Invested Capital | 0.31 % | -0.09 % | -1.14 % | -25.37 % | -50.53 % | -2.61 % | -7.49 % | -5.10 % |
| P/E | - | - | - | - | - | 1.4x | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Strategy Inc's Strategic Group Map
Strategy Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Strategy Inc's trailing-12-month revenue growth of 500.0% and operating margin of -46.0% compares with an average of 247.3% growth and -3.4% margin across its 8 closest peers by combined growth, margin and ROIC -- Strategy Inc sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Strategy Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Strategy Inc falls in the Dog quadrant: relative market share of 0.21x vs its largest competitor, in an industry growing revenue 3.5% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: American Express Company alone holds 37% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
Strategy Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,648 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.01 % vs industry average 5.16 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Strategy Inc's dedicated Suppliers and Customers pages, not here.
Strategy Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Strategy Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Strategy Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+296.9% annualized vs trailing 12 months).
Weaknesses
- Operating margin 50.6 points below the industry median.
- Return on equity 42.5 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.21x).
Opportunities
No rule matched.
Threats
- Industry dominated by American Express Company, holding 36.88 % of industry market cap.
Methodology: see Methodology: SWOT Analysis.
Strategy Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Strategy Inc | 3.05 | 4.80 | 0.18 |
| Microsoft Corporation | 0.16 | 1.27 | 0.10 |
| Amazon com Inc | 0.35 | 1.06 | 0.25 |
| Palantir Technologies Inc | 1.59 | 7.09 | - |
| Oracle Corporation | 0.72 | 1.12 | 2.83 |
| Sap Se | 0.47 | 1.16 | 0.10 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Strategy Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Strategy Inc | Q3 2026 | +32,326.5 % | +601.4 % |
| Microsoft Corporation | Q3 2026 | +18.8 % | +32.0 % |
| Amazon com Inc | Q3 2026 | +12.1 % | -2.4 % |
| Palantir Technologies Inc | Q3 2026 | +95.9 % | +136.6 % |
| Oracle Corporation | Q3 2026 | +24.0 % | +62.6 % |
| Sap Se | Q4 2025 | +12.5 % | +143.0 % |
| PEERS TOTAL | +25.6 % | +52.8 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Strategy Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Strategy Inc | Q3 2026 | -5.8 % | -83.5 % |
| Microsoft Corporation | Q3 2026 | +23.6 % | +103.0 % |
| Amazon com Inc | Q3 2026 | +6.7 % | +20.1 % |
| Palantir Technologies Inc | Q3 2026 | +85.2 % | +18.0 % |
| Oracle Corporation | Q3 2026 | - | +235.2 % |
| Sap Se | Q4 2025 | +9.6 % | - |
Strategy Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Strategy Inc | - | - | - |
| Microsoft Corporation | 20.01% | 23.87% | 34.15% |
| Amazon com Inc | 13.23% | 18.74% | 26.71% |
| Palantir Technologies Inc | 33.33% | 37.35% | 39.51% |
| Oracle Corporation | 7.73% | 9.84% | 44.45% |
| Sap Se | 10.03% | 12.84% | 15.66% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Strategy Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Strategy Inc | - | 1.31 |
| Microsoft Corporation | 27.71 | 11.40 |
| Amazon com Inc | 20.95 | 3.55 |
| Palantir Technologies Inc | 112.15 | 56.63 |
| Oracle Corporation | 18.20 | 4.75 |
| Sap Se | 38.27 | 6.59 |
| PEERS AVERAGE | 26.57 | 5.78 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.