Asana
ASAN · Application Software
$12.02
4.5%Strategy
MSTR · Application Software
$146.01
0.1%The short version
- Asana is the larger business, with $791M of revenue in fiscal 2026 against $477M for Strategy, about 1.7 times as much.
- Asana grew revenue faster (9.3%, against 3.0%).
- Asana kept more of each dollar of sales as operating profit (−25.0% operating margin, against −1,140.8% operating margin).
- Asana turned more of its sales into free cash flow (11.0% FCF margin, against −15.8% FCF margin).
| Latest fiscal year | ASAN · FY26 | MSTR · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.8B | $51.5B |
| Revenue | $791M | $477M |
| Free cash flow | $86.6M | −$75.5M |
| Net income | −$189M | −$3.8B |
| Growth | ||
| Revenue growth | 9.3% | 3.0% |
| 5-year growth | 28.4% | −0.2% |
| Share count change | 3.2% | 44.2% |
| Profitability | ||
| Gross margin | 89.0% | 68.7% |
| Operating margin | −25.0% | −1,140.8% |
| Net margin | −23.9% | −806.4% |
| FCF margin | 11.0% | −15.8% |
| Return on capital | — | −11.4% |
| Return on equity | −99.1% | −12.3% |
| Balance sheet | ||
| Net debt | — | $5.9B |
| Net debt / EBITDA | — | — |
| Dividends and buybacks | $132M | $0.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | — | 4 |
FY17
ASAN —
MSTR $504M
FY18
ASAN —
MSTR $498M
FY19
ASAN $76.8M
MSTR $486M
FY20
ASAN $143M
MSTR $481M
FY21
ASAN $227M
MSTR $511M
FY22
ASAN $378M
MSTR $499M
FY23
ASAN $547M
MSTR $496M
FY24
ASAN $653M
MSTR $464M
FY25
ASAN $724M
MSTR $477M
FY26
ASAN $791M
MSTR —
ASAN
MSTR
FY17
ASAN —
MSTR 14.5%
FY18
ASAN —
MSTR 0.8%
FY19
ASAN −67.8%
MSTR −0.2%
FY20
ASAN −83.9%
MSTR −2.8%
FY21
ASAN −77.3%
MSTR −153.6%
FY22
ASAN −70.1%
MSTR −255.5%
FY23
ASAN −74.5%
MSTR −23.2%
FY24
ASAN −41.4%
MSTR −399.8%
FY25
ASAN −36.9%
MSTR −1,140.8%
FY26
ASAN −25.0%
MSTR —
ASAN
MSTR
FY17
ASAN —
MSTR $74.3M
FY18
ASAN —
MSTR $3.8M
FY19
ASAN −$33.0M
MSTR $50.7M
FY20
ASAN −$47.0M
MSTR $50.0M
FY21
ASAN −$150M
MSTR $91.1M
FY22
ASAN −$125M
MSTR $0.7M
FY23
ASAN −$165M
MSTR $9.8M
FY24
ASAN −$25.7M
MSTR −$56.0M
FY25
ASAN $9.4M
MSTR −$75.5M
FY26
ASAN $86.6M
MSTR —
ASAN
MSTR
FY17
ASAN —
MSTR —
FY18
ASAN —
MSTR —
FY19
ASAN —
MSTR —
FY20
ASAN —
MSTR −2.6%
FY21
ASAN —
MSTR −31.4%
FY22
ASAN —
MSTR −40.1%
FY23
ASAN —
MSTR −2.9%
FY24
ASAN —
MSTR −9.9%
FY25
ASAN —
MSTR −11.4%
FY26
ASAN —
MSTR —
ASAN
MSTR
Add another company
Compare up to four at once.
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.