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MicroStrategy total debt 1997–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
MicroStrategy's total debt was 6.78B USD on 30 September 2026, down 17.6% on a year before. At the end of fiscal year 2025 it was 8.28B USD.
Last updated 8 Nov 2026 · Next report 4 Feb 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 6.78B | -17.58% | 5.91B | -870.31M | 0.10 |
| FY2025 | 31 Dec 2025 | 8.28B | +14.11% | 2.30B | -5.98B | 0.16 |
| FY2024 | 31 Dec 2024 | 7.26B | +222.01% | 38.12M | -7.22B | 0.40 |
| FY2023 | 31 Dec 2023 | 2.25B | -7.86% | 46.82M | -2.21B | 1.04 |
| FY2022 | 31 Dec 2022 | 2.45B | +9.62% | 43.84M | -2.40B | — |
| FY2021 | 31 Dec 2021 | 2.23B | +291.06% | 63.36M | -2.17B | 2.28 |
| FY2020 | 31 Dec 2020 | 570.69M | +451.80% | 59.68M | -511.02M | 1.03 |
| FY2019 | 31 Dec 2019 | 103.42M | — | 565.65M | 462.22M | 0.20 |
| FY2018 | 31 Dec 2018 | 0.00 | — | 576.11M | 576.11M | 0.00 |
| FY2017 | 31 Dec 2017 | 0.00 | — | 675.17M | 675.17M | 0.00 |
| FY2016 | 31 Dec 2016 | 0.00 | — | 589.38M | 589.38M | 0.00 |
| FY2015 | 31 Dec 2015 | 0.00 | — | 485.66M | 485.66M | 0.00 |
| FY2014 | 31 Dec 2014 | 0.00 | — | 345.47M | 345.47M | 0.00 |
| FY2013 | 31 Dec 2013 | 0.00 | — | 357.37M | 357.37M | 0.00 |
| FY2012 | 31 Dec 2012 | 0.00 | — | 223.08M | 223.08M | 0.00 |
| FY2011 | 31 Dec 2011 | 0.00 | — | 199.63M | 199.63M | 0.00 |
| FY2010 | 31 Dec 2010 | 0.00 | — | 174.10M | 174.10M | 0.00 |
| FY2009 | 31 Dec 2009 | 0.00 | — | 224.77M | 224.77M | 0.00 |
| FY2008 | 31 Dec 2008 | 0.00 | — | 122.92M | 122.92M | 0.00 |
| FY2007 | 31 Dec 2007 | 0.00 | — | 85.19M | 85.19M | 0.00 |
| FY2006 | 31 Dec 2006 | 0.00 | — | 79.00M | 79.00M | 0.00 |
| FY2005 | 31 Dec 2005 | 0.00 | — | 96.08M | 96.08M | 0.00 |
| FY2004 | 31 Dec 2004 | 0.00 | — | 106.13M | 106.13M | 0.00 |
| FY2003 | 31 Dec 2003 | 0.00 | -100.00% | 51.92M | 51.92M | 0.00 |
| FY2002 | 31 Dec 2002 | 49.74M | +4,003.88% | 15.08M | -34.66M | — |
| FY2001 | 31 Dec 2001 | 1.21M | — | 39.31M | 38.10M | — |
| FY2000 | 31 Dec 2000 | 0.00 | — | 68.77M | 68.77M | 0.00 |
| FY1999 | 31 Dec 1999 | 0.00 | -100.00% | 25.94M | 25.94M | 0.00 |
| FY1998 | 31 Dec 1998 | 5.00M | +38.89% | 27.50M | 22.50M | 0.13 |
| FY1997 | 31 Dec 1997 | 3.60M | — | 3.50M | -100.00K | — |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 6.78B | -17.58% | 5.91B | -870.31M | 0.10 |
| Q2 FY2026 | 30 Jun 2026 | 6.77B | -17.57% | 2.45B | -4.32B | 0.15 |
| Q1 FY2026 | 31 Mar 2026 | 8.26B | +0.77% | 2.21B | -6.05B | 0.18 |
| Q4 FY2025 | 31 Dec 2025 | 8.28B | +14.11% | 2.30B | -5.98B | 0.16 |
| Q3 FY2025 | 30 Sept 2025 | 8.22B | +92.56% | 54.29M | -8.17B | 0.14 |
| Q2 FY2025 | 30 Jun 2025 | 8.21B | +110.34% | 50.10M | -8.16B | 0.16 |
| Q1 FY2025 | 31 Mar 2025 | 8.19B | +126.51% | 62.26M | -8.13B | 0.24 |
| Q4 FY2024 | 31 Dec 2024 | 7.26B | +222.01% | 38.12M | -7.22B | 0.40 |
| Q3 FY2024 | 30 Sept 2024 | 4.27B | +90.60% | 46.34M | -4.22B | 1.13 |
| Q2 FY2024 | 30 Jun 2024 | 3.91B | +74.16% | 66.92M | -3.84B | 1.38 |
| Q1 FY2024 | 31 Mar 2024 | 3.62B | +61.38% | 81.33M | -3.54B | 1.51 |
| Q4 FY2023 | 31 Dec 2023 | 2.25B | -7.86% | 46.82M | -2.21B | 1.04 |
| Q3 FY2023 | 30 Sept 2023 | 2.24B | -8.42% | 45.01M | -2.20B | 2.67 |
| Q2 FY2023 | 30 Jun 2023 | 2.24B | -8.37% | 65.97M | -2.18B | 2.74 |
| Q1 FY2023 | 31 Mar 2023 | 2.24B | -7.97% | 94.31M | -2.15B | 5.06 |
| Q4 FY2022 | 31 Dec 2022 | 2.45B | +9.62% | 43.84M | -2.40B | — |
| Q3 FY2022 | 30 Sept 2022 | 2.45B | +9.60% | 60.39M | -2.39B | — |
| Q2 FY2022 | 30 Jun 2022 | 2.45B | +9.64% | 69.39M | -2.38B | — |
| Q1 FY2022 | 31 Mar 2022 | 2.44B | +38.84% | 92.68M | -2.34B | 2.82 |
| Q4 FY2021 | 31 Dec 2021 | 2.23B | +291.06% | 63.36M | -2.17B | 2.28 |
| Q3 FY2021 | 30 Sept 2021 | 2.23B | +2,011.61% | 56.98M | -2.17B | 4.84 |
| Q2 FY2021 | 30 Jun 2021 | 2.23B | +2,170.82% | 56.40M | -2.18B | 28.83 |
| Q1 FY2021 | 31 Mar 2021 | 1.75B | +1,650.02% | 82.54M | -1.67B | 4.81 |
| Q4 FY2020 | 31 Dec 2020 | 570.69M | +451.80% | 59.68M | -511.02M | 1.03 |
| Q3 FY2020 | 30 Sept 2020 | 105.70M | +0.39% | 53.88M | -51.82M | 0.27 |
| Q2 FY2020 | 30 Jun 2020 | 98.28M | -16.32% | 530.87M | 432.59M | 0.21 |
| Q1 FY2020 | 31 Mar 2020 | 100.25M | -13.40% | 539.22M | 438.97M | 0.22 |
| Q4 FY2019 | 31 Dec 2019 | 103.42M | — | 565.65M | 462.22M | 0.20 |
| Q3 FY2019 | 30 Sept 2019 | 105.29M | — | 578.29M | 473.00M | 0.20 |
| Q2 FY2019 | 30 Jun 2019 | 117.45M | — | 574.85M | 457.40M | 0.23 |
| Q1 FY2019 | 31 Mar 2019 | 115.76M | — | 551.06M | 435.29M | 0.24 |
| Q4 FY2018 | 31 Dec 2018 | 0.00 | — | 576.11M | 576.11M | 0.00 |
| Q3 FY2018 | 30 Sept 2018 | 0.00 | — | 699.18M | 699.18M | 0.00 |
| Q2 FY2018 | 30 Jun 2018 | 0.00 | — | 699.59M | 699.59M | 0.00 |
| Q1 FY2018 | 31 Mar 2018 | 0.00 | — | 695.47M | 695.47M | 0.00 |
| Q4 FY2017 | 31 Dec 2017 | 0.00 | — | 675.17M | 675.17M | 0.00 |
| Q3 FY2017 | 30 Sept 2017 | 0.00 | — | 646.10M | 646.10M | 0.00 |
| Q2 FY2017 | 30 Jun 2017 | 0.00 | — | 632.40M | 632.40M | 0.00 |
| Q1 FY2017 | 31 Mar 2017 | 0.00 | — | 618.49M | 618.49M | 0.00 |
| Q4 FY2016 | 31 Dec 2016 | 0.00 | — | 589.38M | 589.38M | 0.00 |
| Q3 FY2016 | 30 Sept 2016 | 0.00 | — | 578.90M | 578.90M | 0.00 |
| Q2 FY2016 | 30 Jun 2016 | 0.00 | — | 550.09M | 550.09M | 0.00 |
| Q1 FY2016 | 31 Mar 2016 | 0.00 | — | 536.30M | 536.30M | 0.00 |
| Q4 FY2015 | 31 Dec 2015 | 0.00 | — | 485.66M | 485.66M | 0.00 |
| Q3 FY2015 | 30 Sept 2015 | 0.00 | — | 456.88M | 456.88M | 0.00 |
| Q2 FY2015 | 30 Jun 2015 | 0.00 | — | 427.90M | 427.90M | 0.00 |
| Q1 FY2015 | 31 Mar 2015 | 0.00 | — | 391.82M | 391.82M | 0.00 |
| Q4 FY2014 | 31 Dec 2014 | 0.00 | — | 345.47M | 345.47M | 0.00 |
| Q3 FY2014 | 30 Sept 2014 | 0.00 | — | 354.60M | 354.60M | 0.00 |
| Q2 FY2014 | 30 Jun 2014 | 0.00 | — | 367.54M | 367.54M | 0.00 |
| Q1 FY2014 | 31 Mar 2014 | 0.00 | — | 365.83M | 365.83M | 0.00 |
| Q4 FY2013 | 31 Dec 2013 | 0.00 | — | 357.37M | 357.37M | 0.00 |
| Q3 FY2013 | 30 Sept 2013 | 0.00 | — | 343.95M | 343.95M | 0.00 |
| Q2 FY2013 | 30 Jun 2013 | 0.00 | — | 317.78M | 317.78M | 0.00 |
| Q1 FY2013 | 31 Mar 2013 | 0.00 | — | 330.20M | 330.20M | 0.00 |
| Q4 FY2012 | 31 Dec 2012 | 0.00 | — | 223.08M | 223.08M | 0.00 |
| Q3 FY2012 | 30 Sept 2012 | 0.00 | — | 216.61M | 216.61M | 0.00 |
| Q2 FY2012 | 30 Jun 2012 | 0.00 | — | 195.54M | 195.54M | 0.00 |
| Q1 FY2012 | 31 Mar 2012 | 0.00 | — | 211.13M | 211.13M | 0.00 |
| Q4 FY2011 | 31 Dec 2011 | 0.00 | — | 199.63M | 199.63M | 0.00 |
| Q3 FY2011 | 30 Sept 2011 | 0.00 | — | 186.30M | 186.30M | 0.00 |
| Q2 FY2011 | 30 Jun 2011 | 0.00 | — | 193.03M | 193.03M | 0.00 |
| Q1 FY2011 | 31 Mar 2011 | 0.00 | — | 203.14M | 203.14M | 0.00 |
| Q4 FY2010 | 31 Dec 2010 | 0.00 | — | 174.10M | 174.10M | 0.00 |
| Q3 FY2010 | 30 Sept 2010 | 0.00 | — | 184.30M | 184.30M | 0.00 |
| Q2 FY2010 | 30 Jun 2010 | 0.00 | — | 202.68M | 202.68M | 0.00 |
| Q1 FY2010 | 31 Mar 2010 | 0.00 | — | 231.86M | 231.86M | 0.00 |
| Q4 FY2009 | 31 Dec 2009 | 0.00 | — | 224.77M | 224.77M | 0.00 |
| Q3 FY2009 | 30 Sept 2009 | 0.00 | — | 200.67M | 200.67M | 0.00 |
| Q2 FY2009 | 30 Jun 2009 | 0.00 | — | 176.17M | 176.17M | 0.00 |
| Q1 FY2009 | 31 Mar 2009 | 0.00 | — | 162.19M | 162.19M | 0.00 |
| Q4 FY2008 | 31 Dec 2008 | 0.00 | — | 122.92M | 122.92M | 0.00 |
| Q3 FY2008 | 30 Sept 2008 | 0.00 | — | 127.29M | 127.29M | 0.00 |
| Q2 FY2008 | 30 Jun 2008 | 0.00 | — | 121.90M | 121.90M | 0.00 |
| Q1 FY2008 | 31 Mar 2008 | 0.00 | — | 102.10M | 102.10M | 0.00 |
| Q4 FY2007 | 31 Dec 2007 | 0.00 | — | 85.19M | 85.19M | 0.00 |
| Q3 FY2007 | 30 Sept 2007 | 0.00 | — | 75.73M | 75.73M | 0.00 |
| Q2 FY2007 | 30 Jun 2007 | 0.00 | — | 76.15M | 76.15M | 0.00 |
| Q1 FY2007 | 31 Mar 2007 | 0.00 | — | 66.99M | 66.99M | 0.00 |
| Q4 FY2006 | 31 Dec 2006 | 0.00 | — | 79.00M | 79.00M | 0.00 |
| Q3 FY2006 | 30 Sept 2006 | 0.00 | — | 47.84M | 47.84M | 0.00 |
| Q2 FY2006 | 30 Jun 2006 | 0.00 | — | 46.96M | 46.96M | 0.00 |
| Q1 FY2006 | 31 Mar 2006 | 0.00 | — | 70.78M | 70.78M | 0.00 |
| Q4 FY2005 | 31 Dec 2005 | 0.00 | — | 96.08M | 96.08M | 0.00 |
| Q3 FY2005 | 30 Sept 2005 | 0.00 | — | 75.48M | 75.48M | 0.00 |
| Q2 FY2005 | 30 Jun 2005 | 0.00 | — | 50.65M | 50.65M | 0.00 |
| Q1 FY2005 | 31 Mar 2005 | 0.00 | — | 131.62M | 131.62M | 0.00 |
| Q4 FY2004 | 31 Dec 2004 | 0.00 | — | 106.13M | 106.13M | 0.00 |
| Q3 FY2004 | 30 Sept 2004 | 0.00 | — | 74.79M | 74.79M | 0.00 |
| Q2 FY2004 | 30 Jun 2004 | 0.00 | -100.00% | 60.82M | 60.82M | 0.00 |
| Q1 FY2004 | 31 Mar 2004 | 0.00 | -100.00% | 76.32M | 76.32M | 0.00 |
| Q4 FY2003 | 31 Dec 2003 | 0.00 | -100.00% | 51.92M | 51.92M | 0.00 |
| Q3 FY2003 | 30 Sept 2003 | 0.00 | -100.00% | 38.72M | 38.72M | 0.00 |
| Q2 FY2003 | 30 Jun 2003 | 44.14M | +7,910.53% | 34.87M | -9.26M | — |
| Q1 FY2003 | 31 Mar 2003 | 49.44M | — | 21.97M | -27.47M | — |
| Q4 FY2002 | 31 Dec 2002 | 49.74M | +4,003.88% | 15.08M | -34.66M | — |
| Q3 FY2002 | 30 Sept 2002 | 54.02M | +4,823.97% | 22.38M | -31.64M | — |
| Q2 FY2002 | 30 Jun 2002 | 551.00K | -90.92% | 37.04M | 36.49M | — |
| Q1 FY2002 | 31 Mar 2002 | 0.00 | -100.00% | 33.22M | 33.22M | — |
| Q4 FY2001 | 31 Dec 2001 | 1.21M | — | 39.31M | 38.10M | — |
| Q3 FY2001 | 30 Sept 2001 | 1.10M | — | 42.53M | 41.43M | — |
| Q2 FY2001 | 30 Jun 2001 | 6.07M | — | 60.56M | 54.50M | — |
| Q1 FY2001 | 31 Mar 2001 | 8.93M | — | 91.03M | 82.10M | — |
| Q4 FY2000 | 31 Dec 2000 | 0.00 | — | 68.77M | 68.77M | 0.00 |
| Q3 FY2000 | 30 Sept 2000 | 0.00 | — | 41.07M | 41.07M | — |
| Q2 FY2000 | 30 Jun 2000 | 0.00 | — | 100.03M | 100.03M | 0.00 |
| Q1 FY2000 | 31 Mar 2000 | 0.00 | -100.00% | 54.76M | 54.76M | 0.00 |
| Q4 FY1999 | 31 Dec 1999 | 0.00 | -100.00% | 25.94M | 25.94M | 0.00 |
| Q3 FY1999 | 30 Sept 1999 | 0.00 | -100.00% | 43.80M | 43.80M | 0.00 |
| Q2 FY1999 | 30 Jun 1999 | 0.00 | -100.00% | 34.80M | 34.80M | 0.00 |
| Q1 FY1999 | 31 Mar 1999 | 2.50M | — | 45.10M | 42.60M | 0.03 |
| Q4 FY1998 | 31 Dec 1998 | 5.00M | — | 27.50M | 22.50M | 0.13 |
| Q3 FY1998 | 30 Sept 1998 | 7.50M | — | 29.90M | 22.40M | 0.17 |
| Q2 FY1998 | 30 Jun 1998 | 10.00M | — | 40.00M | 30.00M | 0.24 |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Balance sheet
Common questions about MicroStrategy's debt
Source: Financial Modeling Prep