MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock

STRDNASDAQFinancial Services● Active

$68.59

+$0.89(+1.31%)

Market Cap$20.4B

P/E Ratio—

52W High$96.812

52W Low$64.17

Avg Volume104K

Open$68.50

Beta3.47

Overview

MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock (STRD) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

STRD · free cash flow · updated Jun 8, 2026

Core FCF metrics

STRD · FCF · TTM · margin & CAGR

Free cash flow was $0 for FY2025 (fiscal year ending 2025-12-31), up 100.0% year-over-year The FCF margin was 0.0%.

FY2025 Free Cash Flow$0▲ +100.0% YoY

Trailing 12M (TTM)$7.64Btrailing 4 quarters sum

FCF Margin0.0%$0 ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

STRD · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$0(0M)$0▲ +100.0%0.0%

FY2024−$53.0M(22.09B)−$22.14B▼ 1069.8%—

FY2023$12.7M(1.91B)−$1.89B▼ 559.0%-381.4%

FY2022$3.2M(290M)−$287.2M▲ +88.7%-57.5%

FY2021$93.8M(2.63B)−$2.54B—-496.4%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

STRD · P/FCF · FCF yield · FCF per share

MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock (STRD) trades at a FCF yield of 20.49% and a price-to-free-cash-flow ratio of 2.5x. FCF per share stands at $27.52, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

20.49%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$27.52

TTM FCF ÷ Shares Outstanding

Price / FCF

x2.5

Share Price ÷ FCF per Share

EV / FCF (TTM)

x5.7

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

STRD · cash flow statement · operating / investing / financing

For FY2025, MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock generated $0 in operating cash flow and spent 0M in capital expenditures, yielding $0 in free cash flow.

Operating Activities

+$0.0M

Cash from core business operations

2025-12-31

Investing Activities

+$0.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$0.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($0) − |CapEx| (0M) = FCF ($0)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

STRD vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred StockYOU

STRD

$0+100.0%0.0%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock (STRD) reported free cash flow of $0 for FY2025 (fiscal year ending 2025-12-31), up 100.0% year-over-year. The FCF margin was 0.0%.

MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 5 fiscal years.

MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock's FCF yield is 20.49% and price-to-FCF ratio is 2.5x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

STRD free cash flow · 8 questions

MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock free cash flow was $0 for FY2025, up 100.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $7.64B.

STRD free cash flowSTRD FCFSTRD FCF 2025STRD free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock · MicroStrategy Incorporated 10.00% Series A Perpetual Stride Preferred Stock SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026