Strategy Inc

SWX:MSTR Stock Report

Market Cap: CHF 26.4b

Strategy Valuation

Is MSTR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of MSTR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: MSTR (CHF99.29) is trading below our estimate of future cash flow value (CHF178.43)

Significantly Below Future Cash Flow Value: MSTR is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MSTR?

Key metric: As MSTR barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for MSTR. This is calculated by dividing MSTR's market cap by their current book value.
What is MSTR's PB Ratio?
PB Ratio1x
BookUS$36.65b
Market CapUS$32.84b

Price to Book Ratio vs Peers

How does MSTR's PB Ratio compare to its peers?

The above table shows the PB ratio for MSTR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average6.1x
TEMN Temenos
14.1x2.26%CHF 4.7b
DSY Dassault Systèmes
2.7x6.06%€24.6b
ZM Zoom Communications
2.6x-11.04%US$26.4b
WDAY Workday
5x23.15%US$32.2b
MSTR Strategy
1x93.37%CHF 32.8b

Price-To-Book vs Peers: Insufficient data to calculate MSTR's Price-To-Book Ratio vs. peers for valuation analysis.

Historical Price to Book Ratio

Historical Price to Book Ratio compares a stock's price to the book value of it's equity over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Book Ratio vs Industry

How does MSTR's PB Ratio compare vs other companies in the European Software Industry?

24 CompaniesPrice / BookEstimated GrowthMarket Cap
MSTR 1.0xIndustry Avg. 2.6xNo. of Companies45PB0246810+
24 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: MSTR is good value based on its Price-To-Book Ratio (1x) compared to the European Software industry average (2.6x).

Price to Book Ratio vs Fair Ratio

What is MSTR's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MSTR PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio1x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MSTR's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MSTR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 99.29
CHF 259.80
+161.66%
46.56%CHF 461.34CHF 105.22n/a13
Jun ’27n/a
CHF 296.44
0%
38.35%CHF 507.36CHF 166.76n/a14
May ’27n/a
CHF 291.75
0%
45.48%CHF 550.89CHF 144.56n/a14
Apr ’27n/a
CHF 295.60
0%
46.53%CHF 557.11CHF 138.29n/a14
Mar ’27n/a
CHF 305.23
0%
42.69%CHF 545.63CHF 143.18n/a13
Feb ’27n/a
CHF 363.52
0%
28.70%CHF 547.52CHF 165.42n/a13
Jan ’27n/a
CHF 387.81
0%
25.05%CHF 558.42CHF 181.39n/a13
Dec ’26n/a
CHF 416.27
0%
22.60%CHF 567.41CHF 160.97n/a14
Nov ’26n/a
CHF 424.11
0%
22.26%CHF 567.28CHF 160.93n/a14
Oct ’26n/a
CHF 451.83
0%
23.58%CHF 561.89CHF 159.40n/a12
Sep ’26n/a
CHF 457.82
0%
24.98%CHF 566.41CHF 140.60n/a12
Aug ’26n/a
CHF 451.47
0%
24.78%CHF 567.59CHF 140.89n/a13
Jul ’26CHF 301.33
CHF 420.18
+39.44%
21.81%CHF 515.04CHF 138.66n/a14
Jun ’26CHF 301.25
CHF 436.28
+44.82%
21.81%CHF 534.77CHF 143.98n/a14
May ’26CHF 311.10
CHF 401.73
+29.13%
27.65%CHF 535.71CHF 144.23n/a14
Apr ’26CHF 265.15
CHF 454.72
+71.49%
21.61%CHF 574.93CHF 199.11n/a12
Mar ’26CHF 224.70
CHF 460.26
+104.83%
22.21%CHF 583.17CHF 190.30n/a12
Feb ’26CHF 311.05
CHF 475.61
+52.90%
20.95%CHF 589.86CHF 192.48n/a11
Jan ’26CHF 293.27
CHF 468.80
+59.85%
22.90%CHF 587.50CHF 191.71n/a9
Dec ’25CHF 348.41
CHF 436.90
+25.40%
28.73%CHF 576.54CHF 188.14n/a9
Nov ’25CHF 213.70
CHF 242.43
+13.45%
14.56%CHF 271.63CHF 147.31n/a9
Oct ’25CHF 134.68
CHF 167.91
+24.67%
17.55%CHF 243.69CHF 142.68n/a9
Sep ’25CHF 114.00
CHF 170.95
+49.96%
17.47%CHF 245.00CHF 143.45n/a8
Aug ’25CHF 143.04
CHF 174.33
+21.88%
19.84%CHF 257.07CHF 143.46n/a7
Jul ’25CHF 124.94
CHF 175.31
+40.31%
19.84%CHF 258.51CHF 144.26CHF 301.337
CHF 316.38
Fair Value
68.6% undervalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/02 00:20
End of Day Share Price 2026/07/02 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Strategy Inc is covered by 24 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ramsey El-AssalBarclays
Yun Suk KimBenchmark Company
Mark PalmerBenchmark Company