MSTR vs. NOW: Strategy vs. ServiceNow Stock Comparison

November 11, 2026

How do Strategy (MSTR) and ServiceNow (NOW) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Strategy (MSTR) and ServiceNow (NOW) both belong to the Software industry, though MSTR is classified under Application Software while NOW falls under Systems Software.

Company profile comparison for Strategy (MSTR) and ServiceNow (NOW)
Profile Item	MSTR	NOW
Name	Strategy Inc.	ServiceNow Inc.
Country/Region	United States	United States
GICS Sector	Information Technology	Information Technology
GICS Industry Group	Software & Services	Software & Services
GICS Industry	Software	Software
GICS Sub-Industry	Application Software	Systems Software
Market Capitalization	54.57 billion USD	105.84 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	June 11, 1998	June 29, 2012
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

MSTR

NOW

GSPC

Strategy (MSTR) vs. ServiceNow (NOW), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Strategy (MSTR) and ServiceNow (NOW). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Strategy (MSTR) and ServiceNow (NOW). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Strategy (MSTR) and ServiceNow (NOW)
Metric	MSTR	NOW
Total Return (1Y)	-48.13%	-39.72%
Total Return (3Y, Annualized)	36.44%	-5.71%
Total Return (5Y, Annualized)	7.87%	-5.55%

Risk Profile

Drawdown History

MSTR

NOW

GSPC

Strategy (MSTR) vs. ServiceNow (NOW), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Strategy (MSTR) and ServiceNow (NOW). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Strategy (MSTR) carries a highly aggressive beta of 3.60, indicating much higher sensitivity to broad-market moves, whereas ServiceNow (NOW) is closer to market-like at 0.98 — a noticeable difference in market-sensitivity profile.

Risk profile metrics for Strategy (MSTR) and ServiceNow (NOW)
Metric	MSTR	NOW
Volatility (1Y, Annualized)	82.34%	64.49%
Beta (5Y)	3.60	0.98
Max Drawdown (5Y)	-84.09%	-64.54%
Avg. Volume (3M)	22.35M	15.74M

Risk-Adjusted Performance

Risk-Return Positioning

MSTR and NOW are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Strategy (MSTR) and ServiceNow (NOW)
Metric	MSTR	NOW
Sharpe Ratio (1Y)	-0.64	-0.68
Sortino Ratio (1Y)	-0.97	-0.89

Profitability

ROE (TTM)

Strategy (MSTR) reports a negative ROE of -21.59%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile ServiceNow (NOW) reports 11.85%, ranking against industry peers normally.

MSTR

Software & Services industry group

-21.59%

Max: 53.85%
Q3: 17.90%
Median: 6.59%
Q1: -9.59%
MSTR: -21.59%
Min: -50.52%

NOW

Software & Services industry group

11.85%

Max: 53.85%
Q3: 17.90%
NOW: 11.85%
Median: 6.59%
Q1: -9.59%
Min: -50.52%

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

Both Strategy (MSTR) at 0.00% and ServiceNow (NOW) at 9.36% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

MSTR

Software & Services industry group

0.00%

Max: 41.17%
Q3: 15.28%
Median: 4.63%
MSTR: 0.00%
Q1: -5.42%
Min: -33.17%

NOW

Software & Services industry group

9.36%

Max: 41.17%
Q3: 15.28%
NOW: 9.36%
Median: 4.63%
Q1: -5.42%
Min: -33.17%

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their net margin against the Software & Services industry group benchmark.

Operating Margin (TTM)

Strategy (MSTR) reports a negative operating margin of -2.07%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile ServiceNow (NOW) reports 17.39%, ranking against industry peers normally.

MSTR

Software & Services industry group

-2.07%

Max: 46.89%
Q3: 17.64%
Median: 8.73%
MSTR: -2.07%
Q1: -2.13%
Min: -30.45%

NOW

Software & Services industry group

17.39%

Max: 46.89%
Q3: 17.64%
NOW: 17.39%
Median: 8.73%
Q1: -2.13%
Min: -30.45%

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Strategy (MSTR) and ServiceNow (NOW)
Metric	MSTR	NOW
ROE (TTM)	-21.59%	11.85%
ROA (TTM)	-4.52%	4.59%
Net Margin (TTM)	0.00%	9.36%
Operating Margin (TTM)	-2.07%	17.39%
Gross Margin (TTM)	67.84%	73.08%

Growth

Revenue Growth

ServiceNow (NOW) at 20.88% is around its peer norm for revenue growth, while Strategy (MSTR) at 2.97% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: ServiceNow (NOW) reports EPS growth of 22.08%, ranked against its industry; Strategy (MSTR) has no EPS growth figure this period.

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Strategy (MSTR) and ServiceNow (NOW)
Metric	MSTR	NOW
Revenue Growth (YoY)	2.97%	20.88%
Revenue Growth (3Y CAGR)	-1.49%	22.38%
EPS Growth (YoY)	--	22.08%
EPS Growth (3Y CAGR)	--	73.46%

Financial Strength

Current Ratio (MRQ)

Strategy (MSTR) at 4.04 carries current ratio above its industry’s typical mid-range, while ServiceNow (NOW) at 0.72 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

MSTR

Software & Services industry group

4.04

Max: 5.11
MSTR: 4.04
Q3: 2.77
Median: 1.67
Q1: 1.01
Min: 0.03

NOW

Software & Services industry group

0.72

Max: 5.11
Q3: 2.77
Median: 1.67
Q1: 1.01
NOW: 0.72
Min: 0.03

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Both Strategy (MSTR) at 0.10 and ServiceNow (NOW) at 0.64 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

MSTR

Software & Services industry group

0.10

Max: 2.52
Q3: 1.13
Median: 0.40
MSTR: 0.10
Q1: 0.07
Min: 0.00

NOW

Software & Services industry group

0.64

Max: 2.52
Q3: 1.13
NOW: 0.64
Median: 0.40
Q1: 0.07
Min: 0.00

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their debt-to-equity ratio against the Software & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Strategy (MSTR) and ServiceNow (NOW)
Metric	MSTR	NOW
Current Ratio (MRQ)	4.04	0.72
Debt / Equity (MRQ)	0.10	0.64
Net Debt / EBITDA	--	1.18

Dividends

Dividend Yield (TTM)

Neither Strategy (MSTR) nor ServiceNow (NOW) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

MSTR

Software & Services industry group

0.00%

MSTR: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

NOW

Software & Services industry group

0.00%

NOW: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Neither Strategy (MSTR) nor ServiceNow (NOW) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

MSTR

Software & Services industry group

0.00%

MSTR: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

NOW

Software & Services industry group

0.00%

NOW: 0.00%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Strategy (MSTR) and ServiceNow (NOW)
Metric	MSTR	NOW
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: ServiceNow (NOW) trades at 73.36 times trailing earnings, ranked against its peers, while Strategy (MSTR) has no P/E ratio this period.

MSTR

Software & Services industry group

Max: 112.94
Q3: 60.32
Median: 32.91
Q1: 18.77
Min: 6.69
MSTR: --

NOW

Software & Services industry group

73.36

Max: 112.94
NOW: 73.36
Q3: 60.32
Median: 32.91
Q1: 18.77
Min: 6.69

Strategy (MSTR) vs. ServiceNow (NOW): MSTR does not report P/E ratio, so it has no value marker; NOW is benchmarked against the Software & Services industry group.

P/S Ratio (TTM)

ServiceNow (NOW) at 6.86 prices around its industry’s typical P/S ratio, while Strategy (MSTR) at 110.23 clears its benchmark range — MSTR looks notably rich on sales.

MSTR

Software & Services industry group

110.23

MSTR: 110.23
Max: 17.91
Q3: 8.78
Median: 4.25
Q1: 2.23
Min: 0.02

NOW

Software & Services industry group

6.86

Max: 17.91
Q3: 8.78
NOW: 6.86
Median: 4.25
Q1: 2.23
Min: 0.02

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Strategy (MSTR) at 0.98 sits in the lower P/B ratio quartile against book while ServiceNow (NOW) at 8.08 is valued near its industry’s middle — MSTR is cheaper on assets, though weigh it against ROE and asset quality.

MSTR

Software & Services industry group

0.98

Max: 16.63
Q3: 8.50
Median: 4.30
Q1: 1.92
MSTR: 0.98
Min: -3.90

NOW

Software & Services industry group

8.08

Max: 16.63
Q3: 8.50
NOW: 8.08
Median: 4.30
Q1: 1.92
Min: -3.90

Strategy (MSTR) vs. ServiceNow (NOW): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Strategy (MSTR) and ServiceNow (NOW)
Metric	MSTR	NOW
P/E Ratio (TTM)	--	73.36
P/S Ratio (TTM)	110.23	6.86
P/B Ratio (MRQ)	0.98	8.08
Free Cash Flow Yield (TTM)	-5.94%	5.44%