As of Q4'25, MicroStrategy's ( MSTR ) latest data shows Operating ROA at -20.47%, ROE at -24.72%, and ROIC at -20.30%. This marks a significant decline from the previous quarter, with all three profitability metrics turning sharply negative at the end of the period covered (Q1'23 to Q4'25). Throughout the observed timeframe, the chart reveals considerable volatility in all three ratios. After initial positive performance in early 2023, there were notable swings, including brief recoveries in Q2'25 (ROA at 15.47%, ROE at 21.11%, ROIC at 18.03%), followed by steep declines into negative territory by Q4'25. These fluctuations indicate an unstable profitability trend, with the most recent quarters highlighting growing operational challenges for MSTR .