Ist MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) finanziell gesund?

Debt position. MicroStrategy Incorporated Variable Rate Series A Perpetual Stretch Preferred Stock carries net-debt-to-EBITDA of 12.96x and a debt-to-equity ratio of 0.18x. Buffett's rough rule for non-financial businesses: net-debt-to-EBITDA below 2x in most sectors, with utilities and REITs allowed more room because their cash flows are more predictable. Above 3-4x is where forced deleveraging in a downturn becomes a real risk.

Liquidity. Current ratio (current assets / current liabilities) sits at 6.05. Below 1.0 means the business doesn't have enough short-term assets to cover short-term obligations - Graham's defensive cut-off is 2.0, but most healthy modern businesses run 1.2-1.8 because working-capital efficiency has improved over the decades. The key is the direction over time, not the absolute number.

Cash-flow quality. Interest coverage runs at 9.3x, and the FCF-to-net-income ratio is 0.03x. The first tells you whether earnings comfortably cover debt service; the second tells you whether accounting earnings are showing up as cash. Both above 1.5x is the comfortable zone - below 1.0x is where Buffett would walk away regardless of how cheap the stock looks.