Strive, Inc.

ASST

$26.12

-2.61%

N/A-$0.70

Financial Services

Asset Management

NASDAQ

Active Trading

Strive, Inc. is a privately owned investment manager. It primarily provides its services to investment companies. The firm is a large advisory ...

Fundamental Analysis of ASST

Key Strengths

Clear and focused Bitcoin treasury strategy with a stated objective of increasing Bitcoin per share.

Strong liquidity position with a current ratio of 7.6 and cash per share of $1.93.

Risk Factors

Extreme share price volatility: 52-week range of $7.02 to $252, indicating high speculative risk.

Negative profitability: net profit margin of -131.3% and negative operating cash flow, indicating ongoing losses.

Profitability

Net Margin-13133.50%

Operating Margin-1079.61%

Valuation

P/E Ratio-0.20x

Current Ratio7.62

Efficiency

ROE-116.95%

ROA-83.51%

Fundamental Analysis of ASST

Strive, Inc. is a unique asset management firm focused on a Bitcoin treasury strategy, aiming to increase Bitcoin holdings per share. As of the latest data, the company has a market capitalization of approximately $1.25 billion, but its financials reveal significant challenges. The company is not yet profitable, with a net profit margin of -131.3% and negative operating cash flow. Revenue per share is minimal ($0.116), and the price-to-sales ratio is extremely high at 142.3, indicating that the market is pricing in substantial future growth or asset appreciation. The balance sheet shows a current ratio of 7.6, indicating strong liquidity, but the debt-to-equity ratio is very low (0.005), suggesting minimal leverage. However, the return on equity is deeply negative at -139.9%, reflecting substantial losses relative to equity. The company's enterprise value-to-EBITDA is -3.34, indicating negative EBITDA. Key positive aspects include a clear and focused strategy, a strong cash position per share ($1.93), and a low beta, which could provide some downside protection. However, risks are substantial: extreme share price volatility (52-week range $7.02-$252), reliance on Bitcoin's price, potential dilution, and a very short operating history. The company's forward-looking strategy could generate significant value if Bitcoin appreciates, but it also carries high risk. Analysts are likely to view this as a speculative investment with both high upside and downside potential. Given the extreme volatility and unproven business model, the recommendation is cautious: a 'hold' rating for the long term, but 'sell' for the short term due to potential near-term drawdowns. Medium-term outlook is mixed, with potential for Bitcoin-driven rallies but also high volatility.

Key Strengths of ASST

Clear and focused Bitcoin treasury strategy with a stated objective of increasing Bitcoin per share.
Strong liquidity position with a current ratio of 7.6 and cash per share of $1.93.
Low debt-to-equity ratio (0.005) indicating minimal leverage, reducing financial risk.
Large market cap ($1.25B) and early mover advantage as a publicly traded Bitcoin treasury asset manager.
Low beta (-0.23) suggests low correlation with the broader market, potentially offering diversification benefits.
Experienced management team led by CEO Matthew Ryan Cole, with a clear mandate for capital allocation.
Potential for significant upside if Bitcoin adoption and price increase over the long term.
Strong institutional focus and regulatory compliance as a NASDAQ-listed company.

Risk Factors of ASST

Extreme share price volatility: 52-week range of $7.02 to $252, indicating high speculative risk.
Negative profitability: net profit margin of -131.3% and negative operating cash flow, indicating ongoing losses.
Dependence on Bitcoin's price: the strategy's success hinges on Bitcoin appreciation, which is highly uncertain and volatile.
Massive share dilution concerns: potential for future share issuance to fund Bitcoin purchases, diluting existing shareholders.
Unproven business model as a 'Bitcoin treasury' company, with limited operating history (IPO in 2023).
High valuation multiples: price-to-sales of 142.3 suggests overvaluation if growth doesn't materialize.
Regulatory and tax risks related to Bitcoin holdings and the evolving cryptocurrency regulatory landscape.
Limited revenue diversification: company's revenue is minimal and highly dependent on the success of its treasury strategy.

Market Cap vs Revenue & Earnings

Earnings

n/a

Revenue

n/a

Market cap

$2.61B

-0.2x

P/E Ratio

306.1x

P/S Ratio

Earnings & Revenue

Last Reportedn/a

Earnings per share (EPS)n/a

Gross Margin-424.95%

Net Profit Margin-13133.50%

Debt/Equity Ratio0.00

Profitability Bridge (Current vs YoY)

How gross, operating and net margins shifted versus last year.

Revenue / Net Income / FCF History (USD B)

Growth Signals of ASST

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Revenue	—	—	—	—	Flat
Diluted EPS	—	—	—	—	Flat
Free Cash Flow	—	—	—	—	Flat

Profitability of ASST

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Net Margin	—	-9650.19%	—	—	Flat
Operating Margin	—	-729.51%	—	—	Flat
ROE	—	—	—	—	Flat

Financial Health of ASST

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
Current Ratio	—	7.623	—	—	Flat
Quick Ratio	—	7.623	—	—	Flat
Debt / Equity	—	0.002	—	—	Flat

Valuation of ASST

Metric	Current	Previous	YoYYear-over-Year change: current quarter versus the same quarter last year.	QoQQuarter-over-Quarter change: current quarter versus the immediately previous quarter.	Signal
P/E	—	-0.72x	—	—	Flat
P/B	—	0.61x	—	—	Flat

Supply Chain of ASST

RELATIONS

Upstream

Empowered Funds, LLC (dba ETF Architect / EA Advisers)PINE Distributors, LLCKPMG LLPDavis Polk & Wardwell LLPPractus, LLPIntercontinental Exchange, Inc.NYSE:ICE Coinbase Global, Inc.NASDAQ:COINSemler Scientific, Inc. (Acquired Jan 2026)EA Series TrustQuasar Distributors, LLC (predecessor distributor)Graybeard BTC Management, LP

Downstream

Fidelity Investments (FMR LLC)Charles Schwab CorporationNYSE:SCHW Morgan StanleyNYSE:MS Robinhood Markets, Inc.NASDAQ:HOOD Interactive Brokers Group, Inc.NASDAQ:IBKRVanguard Capital Management, LLCBlackRock, Inc.NYSE:BLKSusquehanna International Group, LLP401(k) Plan Sponsors & Retirement PlatformsStrive Asset Management, LLC (Wholly Owned Sub-Adviser)UBS Group AGNYSE:UBS

Proxies

MicroStrategy Incorporated (Strategy)NASDAQ:MSTR Coinbase Global, Inc.NASDAQ:COIN BlackRock, Inc.NYSE:BLK Intercontinental Exchange, Inc.NYSE:ICESemler Scientific, Inc. (Pre-Acquisition)Unconfirmed

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Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer