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Strategy EV/EBIT MSTR

Enterprise value divided by operating profit over the last twelve months, one-off items taken out, since 2012.

Today, Oct 23, 2026
n/m
an operating loss
Last meaningful
3.9×
Feb 2026
10-year median
46.0×
10-year range
3.9× to 493×
Peer median
24.0×

Strategy has no meaningful EV/EBIT today: it made an operating loss of $36.4B over the last twelve months.

It was last meaningful in Feb 2026, at 3.9×.

On the days it had one over the last ten years, its median was 46.0×, from 3.9× in Feb 2026 to 493× in Mar 2023.

EV/EBIT over time

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

YearEnd of yearLowHigh
2026 so far3.9×3.9×4.9×
20254.5×4.5×15.0×
2024n/m a value too high to mean anything
2023493×275×493×
2022261×87.8×363×
2021121×88.5×242×
202091.7×37.3×91.7×
2019241×33.0×244×
201832.5×9.7×33.8×
20179.2×7.8×15.2×
201614.4×9.8×14.7×
201512.7×11.7×84.4×
2014156×40.0×156×
201345.9×19.6×48.2×
201222.0×19.8×57.9×

Against its peers

Companies in Software - Application nearest Strategy's size, closest first, today.

CompanyEV/EBIT
MSTRStrategyn/m
TEAMAtlassian153×
ADSKAutodesk24.0×
VEEVVeeva Systems43.7×
WDAYWorkday38.7×
ROPRoper Technologies23.4×
APPAppLovin16.6×
CDNSCadence Design Systems49.8×
INTUIntuit14.9×
DDOGDatadogn/m
ADBEAdobe10.9×
Peer median24.0×

What the EV/EBIT tells you

What the whole business costs against its operating profit. Enterprise value is the market value plus borrowings and minority interests, less cash. EBIT is operating profit before interest and tax, with one-offs taken out. Unlike PE it is not moved by how a company is financed.

Leases are left out of debt for every company. Banks earn on their balance sheet, so EV/EBIT does not describe them.

More on Strategy

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.