Strategy price to book ratio MSTR

Market value divided by the book value of the company's net assets, since 2011.

Today, Oct 23, 2026: 1.8×
10-year median: 3.1×
Against its 10-year history: 10th; percentile: 0 is its lowest day, 100 its highest
10-year range: 0.7× to 94.4×
Peer median: 10.7×

Strategy's price to book ratio is 1.8× as of Oct 23, 2026.

That is below its ten-year median of 3.1×, lower than on 90% of days in the last ten years.

Over that time it ranged from 0.7× in Feb 2026 to 94.4× in Oct 2021.

The median for 10 application software stocks of a similar size is 10.7×.

Price to book ratio over time

median 3.1×

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

Year	End of year	Low	High
2026 so far	1.8×	0.7×	2.0×
2025	0.9×	0.9×	21.3×
2024	17.7×	5.4×	22.7×
2023	10.9×	5.5×	13.4×
2022	3.7×	2.2×	11.2×
2021	12.2×	10.6×	94.4×
2020	9.2×	2.0×	9.2×
2019	2.9×	2.3×	3.1×
2018	2.3×	2.1×	2.8×
2017	2.5×	2.4×	4.5×
2016	4.3×	3.8×	4.8×
2015	5.0×	4.7×	6.8×
2014	6.2×	3.7×	6.5×
2013	4.8×	3.5×	6.4×
2012	5.5×	5.1×	9.7×
2011	7.1×	7.0×	9.8×

Against its peers

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

Company	Price to book ratio
MSTRStrategy	1.8×
TEAMAtlassian	54.4×
ADSKAutodesk	15.6×
VEEVVeeva Systems	7.0×
WDAYWorkday	7.8×
ROPRoper Technologies	2.3×
APPAppLovin	27.5×
CDNSCadence Design Systems	12.7×
INTUIntuit	4.8×
DDOGDatadog	22.2×
ADBEAdobe	8.7×
Peer median	10.7×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Strategy

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.