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MicroStrategy free cash flow 1997–2026What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.
MicroStrategy's free cash flow in Q3 FY2026, the three months to 30 September 2026, was 3.96M USD, against -4.97B USD on the same quarter a year before. MicroStrategy's free cash flow in fiscal year 2025 was -22.58B USD, against -22.14B USD on the year before.
Last updated 8 Nov 2026 · Next report 4 Feb 2027
Free cash flow
Free cash flow Free cash flow margin
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 30 Sept 2026 | -16.78B | — | -3,388.80% | -7.36M | -16.77B | -47.96 |
| FY2025 | 31 Dec 2025 | -22.58B | — | -4,731.34% | -67.24M | -22.51B | -76.80 |
| FY2024 | 31 Dec 2024 | -22.14B | — | -4,776.99% | -53.03M | -22.09B | -114.98 |
| FY2023 | 31 Dec 2023 | -1.89B | — | -381.36% | 12.71M | -1.91B | -11.42 |
| FY2022 | 31 Dec 2022 | -287.20M | — | -57.52% | 3.21M | -290.41M | -2.54 |
| FY2021 | 31 Dec 2021 | -2.54B | — | -496.40% | 93.83M | -2.63B | -25.30 |
| FY2020 | 31 Dec 2020 | -1.08B | -2,221.01% | -223.62% | 53.62M | -1.13B | -11.10 |
| FY2019 | 31 Dec 2019 | 50.69M | +1,240.52% | 10.42% | 60.87M | -10.18M | 0.49 |
| FY2018 | 31 Dec 2018 | 3.78M | -94.91% | 0.76% | 10.63M | -6.85M | 0.03 |
| FY2017 | 31 Dec 2017 | 74.34M | -31.33% | 14.75% | 78.32M | -3.98M | 0.64 |
| FY2016 | 31 Dec 2016 | 108.25M | -20.76% | 21.08% | 110.59M | -2.34M | 0.94 |
| FY2015 | 31 Dec 2015 | 136.62M | — | 25.78% | 149.70M | -13.08M | 1.18 |
| FY2014 | 31 Dec 2014 | -6.20M | -146.05% | -1.07% | 14.60M | -20.80M | -0.05 |
| FY2013 | 31 Dec 2013 | 13.45M | +11.05% | 2.34% | 29.93M | -16.48M | 0.12 |
| FY2012 | 31 Dec 2012 | 12.12M | -33.49% | 2.14% | 49.88M | -37.77M | 0.11 |
| FY2011 | 31 Dec 2011 | 18.22M | -68.24% | 3.39% | 60.81M | -42.60M | 0.16 |
| FY2010 | 31 Dec 2010 | 57.35M | -22.46% | 12.62% | 75.83M | -18.47M | 0.49 |
| FY2009 | 31 Dec 2009 | 73.96M | +63.72% | 19.58% | 96.44M | -22.48M | 0.60 |
| FY2008 | 31 Dec 2008 | 45.18M | -50.77% | 12.54% | 88.92M | -43.74M | 0.37 |
| FY2007 | 31 Dec 2007 | 91.77M | -7.87% | 26.17% | 97.90M | -6.13M | 0.71 |
| FY2006 | 31 Dec 2006 | 99.61M | -1.02% | 31.74% | 104.42M | -4.81M | 0.73 |
| FY2005 | 31 Dec 2005 | 100.64M | +25.95% | 37.46% | 102.55M | -1.91M | 0.65 |
| FY2004 | 31 Dec 2004 | 79.91M | +146.15% | 34.56% | 85.56M | -5.65M | 0.47 |
| FY2003 | 31 Dec 2003 | 32.46M | — | 18.49% | 36.64M | -4.18M | 0.22 |
| FY2002 | 31 Dec 2002 | -6.99M | — | -4.73% | -2.66M | -4.33M | -0.06 |
| FY2001 | 31 Dec 2001 | -6.75M | — | -3.74% | -4.87M | -1.88M | -0.08 |
| FY2000 | 31 Dec 2000 | -129.89M | — | -60.34% | -101.18M | -28.71M | -1.63 |
| FY1999 | 31 Dec 1999 | -23.64M | — | -15.63% | -9.03M | -14.61M | -0.15 |
| FY1998 | 31 Dec 1998 | -11.84M | — | -12.40% | -2.55M | -9.30M | -0.09 |
| FY1997 | 31 Dec 1997 | -999.00K | — | -1.90% | 4.96M | -5.95M | -0.01 |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 3.96M | — | — | 4.42M | -462.00K | — |
| Q2 FY2026 | 26 Jul 2026 | -6.43B | — | — | -4.14M | -6.42B | — |
| Q1 FY2026 | 31 Mar 2026 | -7.24B | — | -5,823.08% | 13.99M | -7.25B | -21.68 |
| Q4 FY2025 | 31 Dec 2025 | -3.12B | — | -2,533.86% | -21.63M | -3.09B | -10.60 |
| Q3 FY2025 | 30 Sept 2025 | -4.97B | — | -3,860.56% | -8.31M | -4.96B | -16.34 |
| Q2 FY2025 | 30 Jun 2025 | -6.82B | — | -5,958.89% | -34.91M | -6.79B | -22.89 |
| Q1 FY2025 | 31 Mar 2025 | -7.67B | — | -6,908.31% | -2.39M | -7.67B | -29.92 |
| Q4 FY2024 | 31 Dec 2024 | -18.09B | — | -14,990.15% | -17.32M | -18.08B | -81.64 |
| Q3 FY2024 | 30 Sept 2024 | -1.62B | — | -1,392.65% | -40.97M | -1.58B | -8.19 |
| Q2 FY2024 | 30 Jun 2024 | -817.88M | — | -733.91% | -23.33M | -794.55M | -4.58 |
| Q1 FY2024 | 31 Mar 2024 | -1.61B | — | -1,398.98% | 28.59M | -1.64B | -9.38 |
| Q4 FY2023 | 31 Dec 2023 | -1.21B | — | -974.83% | 1.18M | -1.21B | -6.60 |
| Q3 FY2023 | 30 Sept 2023 | -170.53M | — | -131.72% | -7.40M | -163.13M | -1.20 |
| Q2 FY2023 | 30 Jun 2023 | -366.11M | — | -304.08% | -18.47M | -347.64M | -2.27 |
| Q1 FY2023 | 31 Mar 2023 | -142.38M | — | -116.78% | 37.40M | -179.77M | -0.98 |
| Q4 FY2022 | 31 Dec 2022 | -75.28M | — | -56.79% | -18.20M | -57.08M | -0.66 |
| Q3 FY2022 | 30 Sept 2022 | -7.76M | — | -6.19% | -1.45M | -6.31M | -0.07 |
| Q2 FY2022 | 30 Jun 2022 | -31.70M | — | -25.97% | -20.82M | -10.88M | -0.28 |
| Q1 FY2022 | 31 Mar 2022 | -172.46M | — | -144.59% | 43.68M | -216.14M | -1.53 |
| Q4 FY2021 | 31 Dec 2021 | -588.64M | — | -437.60% | 3.25M | -591.88M | -5.51 |
| Q3 FY2021 | 30 Sept 2021 | -406.49M | — | -317.59% | 13.91M | -420.41M | -4.07 |
| Q2 FY2021 | 30 Jun 2021 | -516.15M | — | -411.77% | 13.97M | -530.13M | -5.30 |
| Q1 FY2021 | 31 Mar 2021 | -1.02B | -3,705.04% | -833.28% | 62.70M | -1.09B | -10.62 |
| Q4 FY2020 | 31 Dec 2020 | -677.17M | -8,844.41% | -515.67% | 25.32M | -702.49M | -6.88 |
| Q3 FY2020 | 30 Sept 2020 | -423.22M | -19,594.43% | -332.18% | 1.78M | -425.00M | -4.40 |
| Q2 FY2020 | 30 Jun 2020 | -3.05M | -115.00% | -2.76% | -2.55M | -501.00K | -0.03 |
| Q1 FY2020 | 31 Mar 2020 | 28.41M | +38.95% | 25.50% | 29.07M | -661.00K | 0.28 |
| Q4 FY2019 | 31 Dec 2019 | 7.74M | — | 5.80% | 8.54M | -800.00K | 0.08 |
| Q3 FY2019 | 30 Sept 2019 | 2.17M | — | 1.81% | 3.12M | -950.00K | 0.02 |
| Q2 FY2019 | 30 Jun 2019 | 20.33M | +523.47% | 17.26% | 22.75M | -2.42M | 0.20 |
| Q1 FY2019 | 31 Mar 2019 | 20.45M | +17.34% | 17.72% | 26.46M | -6.01M | 0.20 |
| Q4 FY2018 | 31 Dec 2018 | -15.01M | -154.90% | -11.38% | -12.62M | -2.39M | -0.13 |
| Q3 FY2018 | 30 Sept 2018 | -1.89M | -116.66% | -1.55% | -79.00K | -1.81M | -0.02 |
| Q2 FY2018 | 30 Jun 2018 | 3.26M | -67.22% | 2.70% | 4.61M | -1.35M | 0.03 |
| Q1 FY2018 | 31 Mar 2018 | 17.42M | -32.21% | 14.17% | 18.72M | -1.29M | 0.15 |
| Q4 FY2017 | 31 Dec 2017 | 27.34M | +73.29% | 19.79% | 29.04M | -1.70M | 0.24 |
| Q3 FY2017 | 30 Sept 2017 | 11.36M | -57.73% | 9.01% | 12.17M | -815.00K | 0.10 |
| Q2 FY2017 | 30 Jun 2017 | 9.95M | -33.61% | 8.34% | 10.59M | -647.00K | 0.09 |
| Q1 FY2017 | 31 Mar 2017 | 25.70M | -49.24% | 21.03% | 26.52M | -820.00K | 0.22 |
| Q4 FY2016 | 31 Dec 2016 | 15.78M | -39.61% | 11.26% | 16.55M | -777.00K | 0.14 |
| Q3 FY2016 | 30 Sept 2016 | 26.86M | -14.21% | 20.68% | 27.49M | -625.00K | 0.23 |
| Q2 FY2016 | 30 Jun 2016 | 14.98M | -50.44% | 12.16% | 15.72M | -742.00K | 0.13 |
| Q1 FY2016 | 31 Mar 2016 | 50.63M | +3.43% | 42.54% | 50.83M | -193.00K | 0.44 |
| Q4 FY2015 | 31 Dec 2015 | 26.12M | — | 18.20% | 26.26M | -132.00K | 0.23 |
| Q3 FY2015 | 30 Sept 2015 | 31.31M | — | 24.17% | 31.41M | -98.00K | 0.27 |
| Q2 FY2015 | 30 Jun 2015 | 30.22M | +2,693.35% | 22.74% | 36.19M | -5.96M | 0.26 |
| Q1 FY2015 | 31 Mar 2015 | 48.96M | +437.75% | 39.52% | 55.85M | -6.89M | 0.43 |
| Q4 FY2014 | 31 Dec 2014 | -8.41M | -158.80% | -5.65% | -1.72M | -6.69M | -0.07 |
| Q3 FY2014 | 30 Sept 2014 | -7.98M | -130.18% | -5.27% | 1.95M | -9.93M | -0.07 |
| Q2 FY2014 | 30 Jun 2014 | 1.08M | — | 0.76% | 3.59M | -2.51M | 0.01 |
| Q1 FY2014 | 31 Mar 2014 | 9.10M | — | 6.60% | 10.78M | -1.68M | 0.08 |
| Q4 FY2013 | 31 Dec 2013 | 14.30M | +155.69% | 8.62% | 15.35M | -1.05M | 0.13 |
| Q3 FY2013 | 30 Sept 2013 | 26.43M | +80.73% | 18.62% | 31.20M | -4.78M | 0.23 |
| Q2 FY2013 | 30 Jun 2013 | -11.62M | — | -8.42% | -6.46M | -5.16M | -0.10 |
| Q1 FY2013 | 31 Mar 2013 | -15.66M | -298.50% | -12.03% | -10.16M | -5.50M | -0.14 |
| Q4 FY2012 | 31 Dec 2012 | 5.59M | -66.92% | 3.40% | 8.70M | -3.11M | 0.05 |
| Q3 FY2012 | 30 Sept 2012 | 14.62M | — | 10.75% | 21.34M | -6.72M | 0.13 |
| Q2 FY2012 | 30 Jun 2012 | -16.35M | — | -12.09% | -925.00K | -15.43M | -0.15 |
| Q1 FY2012 | 31 Mar 2012 | 7.89M | -60.77% | 5.70% | 20.77M | -12.89M | 0.07 |
| Q4 FY2011 | 31 Dec 2011 | 16.91M | +9.67% | 10.55% | 28.44M | -11.53M | 0.15 |
| Q3 FY2011 | 30 Sept 2011 | -9.89M | -158.00% | -6.98% | 910.00K | -10.80M | -0.09 |
| Q2 FY2011 | 30 Jun 2011 | -12.88M | -1,004.35% | -9.32% | 3.26M | -16.14M | -0.12 |
| Q1 FY2011 | 31 Mar 2011 | 20.11M | -14.32% | 16.48% | 28.21M | -8.10M | 0.18 |
| Q4 FY2010 | 31 Dec 2010 | 15.42M | -33.65% | 11.08% | 19.89M | -4.47M | 0.14 |
| Q3 FY2010 | 30 Sept 2010 | 17.05M | -24.30% | 14.88% | 24.56M | -7.51M | 0.15 |
| Q2 FY2010 | 30 Jun 2010 | 1.42M | -86.96% | 1.32% | 6.51M | -5.08M | 0.01 |
| Q1 FY2010 | 31 Mar 2010 | 23.47M | +35.74% | 25.13% | 24.88M | -1.41M | 0.19 |
| Q4 FY2009 | 31 Dec 2009 | 23.23M | — | 21.96% | 39.64M | -16.41M | 0.20 |
| Q3 FY2009 | 30 Sept 2009 | 22.52M | +109.23% | 21.65% | 23.02M | -498.00K | 0.18 |
| Q2 FY2009 | 30 Jun 2009 | 10.92M | -44.85% | 12.44% | 11.15M | -231.00K | 0.09 |
| Q1 FY2009 | 31 Mar 2009 | 17.29M | -1.94% | 21.55% | 22.64M | -5.35M | 0.14 |
| Q4 FY2008 | 31 Dec 2008 | -3.02M | -109.27% | -3.18% | 29.67M | -32.69M | -0.03 |
| Q3 FY2008 | 30 Sept 2008 | 10.76M | -26.41% | 11.88% | 17.18M | -6.42M | 0.09 |
| Q2 FY2008 | 30 Jun 2008 | 19.80M | +150.03% | 22.29% | 23.98M | -4.17M | 0.16 |
| Q1 FY2008 | 31 Mar 2008 | 17.63M | -39.66% | 21.10% | 18.09M | -459.00K | 0.14 |
| Q4 FY2007 | 31 Dec 2007 | 32.55M | +32.98% | 33.36% | 33.16M | -608.00K | 0.27 |
| Q3 FY2007 | 30 Sept 2007 | 14.63M | -17.55% | 16.03% | 18.11M | -3.48M | 0.11 |
| Q2 FY2007 | 30 Jun 2007 | 7.92M | -72.05% | 10.15% | 8.98M | -1.06M | 0.06 |
| Q1 FY2007 | 31 Mar 2007 | 29.22M | +0.55% | 42.13% | 37.65M | -8.43M | 0.22 |
| Q4 FY2006 | 31 Dec 2006 | 24.48M | -16.94% | 26.45% | 26.62M | -2.14M | 0.19 |
| Q3 FY2006 | 30 Sept 2006 | 17.74M | -10.86% | 22.84% | 18.79M | -1.05M | 0.13 |
| Q2 FY2006 | 30 Jun 2006 | 28.34M | +32.93% | 38.24% | 29.19M | -856.00K | 0.21 |
| Q1 FY2006 | 31 Mar 2006 | 29.06M | -3.00% | 41.81% | 29.83M | -766.00K | 0.20 |
| Q4 FY2005 | 31 Dec 2005 | 29.47M | -0.74% | 38.06% | 30.09M | -623.00K | 0.22 |
| Q3 FY2005 | 30 Sept 2005 | 19.90M | +27.50% | 30.24% | 20.30M | -403.00K | 0.14 |
| Q2 FY2005 | 30 Jun 2005 | 21.32M | +84.24% | 32.57% | 21.66M | -344.00K | 0.14 |
| Q1 FY2005 | 31 Mar 2005 | 29.96M | +30.02% | 49.94% | 30.50M | -537.00K | 0.18 |
| Q4 FY2004 | 31 Dec 2004 | 29.69M | +132.52% | 41.47% | 30.90M | -1.21M | 0.18 |
| Q3 FY2004 | 30 Sept 2004 | 15.61M | +109.90% | 25.74% | 16.85M | -1.24M | 0.09 |
| Q2 FY2004 | 30 Jun 2004 | 11.57M | +93.77% | 23.19% | 12.74M | -1.17M | 0.07 |
| Q1 FY2004 | 31 Mar 2004 | 23.04M | +243.71% | 46.92% | 25.06M | -2.02M | 0.13 |
| Q4 FY2003 | 31 Dec 2003 | 12.77M | — | 24.71% | 13.71M | -939.00K | 0.08 |
| Q3 FY2003 | 30 Sept 2003 | 7.44M | +54.73% | 17.36% | 8.73M | -1.29M | 0.05 |
| Q2 FY2003 | 30 Jun 2003 | 5.97M | +79.47% | 13.68% | 7.24M | -1.27M | 0.04 |
| Q1 FY2003 | 31 Mar 2003 | 6.70M | — | 17.91% | 7.39M | -682.00K | 0.05 |
| Q4 FY2002 | 31 Dec 2002 | -7.14M | -118.71% | -17.02% | -3.60M | -3.55M | -0.05 |
| Q3 FY2002 | 30 Sept 2002 | 4.81M | — | 14.40% | 4.81M | 0.00 | 0.04 |
| Q2 FY2002 | 30 Jun 2002 | 3.33M | — | 9.03% | 3.53M | -204.00K | 0.03 |
| Q1 FY2002 | 31 Mar 2002 | -5.04M | — | -14.14% | -4.46M | -582.00K | -0.04 |
| Q4 FY2001 | 31 Dec 2001 | 38.19M | — | 94.60% | 38.19M | 0.00 | 0.41 |
| Q3 FY2001 | 30 Sept 2001 | -3.21M | — | -7.74% | -3.02M | -190.00K | -0.03 |
| Q2 FY2001 | 30 Jun 2001 | -26.41M | — | -53.67% | -24.48M | -1.93M | -0.32 |
| Q1 FY2001 | 31 Mar 2001 | -17.40M | — | -35.21% | -15.56M | -1.84M | -0.21 |
| Q4 FY2000 | 31 Dec 2000 | -11.15M | -530.51% | -19.18% | -5.29M | -5.86M | -0.14 |
| Q3 FY2000 | 30 Sept 2000 | -55.43M | — | -85.46% | -41.89M | -13.53M | -0.69 |
| Q2 FY2000 | 30 Jun 2000 | -34.97M | — | -83.91% | -16.87M | -18.10M | -0.44 |
| Q1 FY2000 | 31 Mar 2000 | -33.69M | — | -66.56% | -23.75M | -9.94M | -0.43 |
| Q4 FY1999 | 31 Dec 1999 | 2.59M | +547.25% | 16.97% | 2.59M | 0.00 | 0.03 |
| Q3 FY1999 | 30 Sept 1999 | -12.90M | — | -36.55% | -3.33M | -9.58M | -0.08 |
| Q2 FY1999 | 30 Jun 1999 | -5.19M | — | -11.35% | 561.00K | -5.75M | -0.07 |
| Q1 FY1999 | 31 Mar 1999 | -5.91M | — | -20.16% | -1.16M | -4.75M | -0.04 |
| Q4 FY1998 | 31 Dec 1998 | 400.00K | — | 1.12% | 3.60M | -3.20M | 0.01 |
| Q3 FY1998 | 30 Sept 1998 | -7.60M | — | -28.15% | -4.00M | -3.60M | -0.11 |
| Q2 FY1998 | 30 Jun 1998 | -2.30M | — | -9.66% | -1.20M | -1.10M | -0.03 |
Figures in USD. Free cash flow is operating cash flow less capital expenditure. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Cash flow
Common questions about MicroStrategy's free cash flow
Source: Financial Modeling Prep