Oracle Corporation
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
The business works — 30 percent revenue growth and a 34.8 percent operating margin in the quarter ended August 31, 2026 —, but the build-out is being paid for with customer prepayments and new shares rather than free cash flow, and $288 billion of rent sits off the balance sheet. That is not a proven breach of substance, but not proven balance sheet quality either — hence still yellow; the share price plays no part in that color. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
In the first quarter of fiscal 2027 Oracle showed that the order book is turning into revenue: $19.345 billion, up 30 percent, cloud infrastructure more than doubled, $664 billion of remaining performance obligations. What changed most is who pays for the build-out. In fiscal 2026 the bond market fronted the money; in the first quarter of fiscal 2027 it was customers with $11.4 billion of prepayments and shareholders with $19.9 billion from 141 million new shares. The bill remains large: $28.5 billion of capital spending in three months, $90 billion to $95 billion planned for the fiscal year, $125.3 billion of debt and $288 billion of lease commitments off the balance sheet. Oracle still poses the decisive question in its own risk factors: what happens if large customers cannot perform while the leases and their financing keep running. Not investment advice.
Business model and market position
Oracle sells the database a large part of the corporate world runs on, plus applications and, more recently, cloud computing capacity. In the first quarter of fiscal 2027 (June through August 2026) revenue rose 30 percent to $19.345 billion, cloud infrastructure rose 121 percent to $7.388 billion, and the operating margin was 34.8 percent.
Order book and customer concentration
Remaining performance obligations rose to $664 billion as of August 31, 2026, from $455 billion a year earlier. Even the expected 13 percent for the next twelve months equals roughly $86 billion — more than all of fiscal 2026 revenue. No single customer reached 10 percent of revenue through 2026; at the same time Oracle cites a concentration among a number of large customers in parts of its cloud infrastructure business in its risk factors.
Cash flow and capital intensity
In the first quarter of fiscal 2027, $28.499 billion went into property, plant and equipment, and the CFO cited $90 billion to $95 billion for the full fiscal year, according to the earnings call transcript. Free cash flow was minus $5.396 billion — without $11.363 billion of customer prepayments it would have been roughly minus $16.8 billion. Management gave no date on the call for free cash flow turning positive again.
Funding and leverage
Debt edged down to $125.3 billion as of August 31, 2026 because the quarter was funded with $19.9 billion from new shares rather than notes. Equity rose to $67.196 billion and the equity ratio to 22.2 percent. Interest expense grew 55 percent in the quarter to $1.428 billion; the bond market valued long-term borrowings at roughly 85 cents on the dollar, after roughly 89 cents three months earlier.
Off-balance-sheet commitments
As of August 31, 2026, $288 billion of data center lease commitments appeared neither as an asset nor as a liability — $28 billion more than three months earlier; they commence between the second quarter of fiscal 2027 and fiscal 2029 and run fifteen to nineteen years. Add $34.150 billion of unconditional purchase and certain other obligations. Total assets are $303.259 billion.
Valuation
At the October 2, 2026 close of $142.30 and 3,031,501,149 shares, market capitalization was roughly $431 billion: about 22 times trailing four-quarter diluted earnings of $6.38 per share, about 6.0 times revenue over those four quarters and about 6.4 times book value. The consensus price target across 43 analyst ratings was $237.97 (data as of October 2, 2026).
Worth Noting
Oracle reached our research list through our in-house stock scanner: rank 20 of 62 in the “Turnaround Candidates” list (U.S. selection) with a turnaround check of 6 of 8 points, as of July 25, 2026. Rank and score are a snapshot of that single day — the lists are recalculated daily. Among other things the list requires a price at least 50 percent below the all-time high; on October 2, 2026 Oracle was 56.7 percent below its peak at $142.30, and on September 8, 2026 it was just inside that line at $162.52, a gap of 50.5 percent.
Update of October 3, 2026: this edition incorporates the 10-Q for the first quarter of fiscal 2027 (period ended August 31, 2026, filed September 11, 2026), the 8-K earnings release dated September 10, 2026, the earnings call of September 10, 2026 (transcript by The Motley Fool dated September 11, 2026 — a third-party transcript we label as such; figures that also appear in the SEC filings were checked against them, while the capex plan and the free cash flow remarks appear only in the transcript), the 8-K dated September 14, 2026, the DEF 14A proxy statement dated September 25, 2026 and insider filings through October 1, 2026. Annual figures still come from the 10-K for fiscal 2026 (filed June 22, 2026). Price and valuation data as of October 2, 2026 — meant to be evergreen, with no daily price used as a buy argument.
Identity and currency: the ticker ORCL belongs to Oracle Corporation of Austin, Texas (CIK 0001341439). The former name “Ozark Holding Inc.” (October 19, 2005 to February 1, 2006) was the vehicle for the reincorporation in Delaware, not a change of ownership. The symbol ORCL-PRD denotes depositary shares on the 6.50% Series D preferred stock. After the quarterly report of September 11, 2026, the filings through the most recent one reviewed on October 1, 2026 were the 8-K on the cancelled trading plan (September 14, 2026), the proxy statement for the November 18, 2026 annual meeting, and insider and resale notices — no acquisition, no take-private, no merger.
Stock Watch
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 115.00 $ to 262.60 $ · Last price: 130.70 $ (As of: October 30, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 10/31/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Infrastructure
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Oracle Corporation ORCL | 377.8 | 21.8 | 14.5 | 64.0 | 36.2 | 17.4 | -48.5 |
| Microsoft Corporation MSFT | 3,808.5 | 32.2 | 17.6 | 67.7 | 46.3 | 14.9 | 0.1 |
| Palantir Technologies Inc. PLTR | 451.9 | 198.6 | 173.8 | 84.8 | 46.2 | 56.2 | -5.4 |
| Palo Alto Networks Inc PANW | 298.2 | 289.2 | 223.5 | 70.4 | -2.5 | 14.9 | 67.6 |
| Crowdstrike Holdings Inc CRWD | 252.9 | – | 621.7 | 75.2 | -2.2 | 21.7 | 86.0 |
| Fortinet Inc FTNT | 98.0 | 47.8 | 32.4 | 79.8 | 31.3 | 14.2 | 61.6 |
| Cloudflare Inc NET | 96.7 | – | 2,840.5 | 72.6 | -9.7 | 29.9 | 26.2 |
| Synopsys Inc SNPS | 89.5 | 93.7 | 25.9 | 82.9 | 10.4 | 15.1 | 5.6 |
| Block, Inc XYZ | 45.8 | 58.2 | 11.6 | 46.6 | -2.6 | 0.3 | 3.1 |
| Median of companies shown | 252.9 | 58.2 | 32.4 | 72.6 | 10.4 | 15.1 | 5.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 37,728 | 12,913 | 9,452 | 2.24 | 14,126 | 53,860 | 134,991 |
| 2018 | 39,831 | 13,264 | 3,587 | 0.85 | 15,386 | 46,224 | 137,264 |
| 2019 | 39,506 | 13,535 | 11,083 | 2.97 | 14,551 | 21,785 | 108,709 |
| 2020 | 39,068 | 13,896 | 10,135 | 3.08 | 13,139 | 12,074 | 115,438 |
| 2021 | 40,479 | 15,213 | 13,746 | 4.55 | 15,887 | 5,238 | 131,107 |
| 2022 | 42,440 | 10,926 | 6,717 | 2.41 | 9,539 | -6,220 | 109,297 |
| 2023 | 49,954 | 13,093 | 8,503 | 3.07 | 17,165 | 1,073 | 134,384 |
| 2024 | 52,961 | 15,353 | 10,467 | 3.71 | 18,673 | 8,704 | 140,976 |
| 2025 | 57,399 | 17,678 | 12,443 | 4.34 | 20,821 | 20,451 | 168,361 |
| 2026 | 67,358 | 20,778 | 17,087 | 5.86 | 31,977 | 42,508 | 261,759 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2025: Q1 | 1.02 | 19.90 | 14,130 | 6.40 | 20.80 | 5,933 | 71 |
| 2025: Q2 | 1.19 | 7.60 | 15,903 | 11.30 | 21.50 | 6,157 | -2,923 |
| 2025: Q3 | 1.01 | -2.10 | 14,926 | 12.20 | 19.60 | 8,140 | -362 |
| 2025: Q4 | 2.10 | 91.20 | 16,058 | 14.20 | 38.20 | 2,066 | -9,967 |
| 2026: Q1 | 1.28 | 25.00 | 17,190 | 21.70 | 21.60 | 7,151 | -11,484 |
| 2026: Q2 | 1.48 | 23.70 | 19,184 | 20.60 | 22.40 | 14,620 | -1,873 |
| 2026: Q3 | 1.56 | 54.50 | 19,345 | 29.60 | 24.60 | 23,103 | -5,396 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 2 of our scanner strategies — each hit links to the scanner.
Dividends
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 05/31/2027 | 8.14 | 8.00 – 8.37 | 90,409 | 6.7% | 37 |
| 05/31/2028 | 11.03 | 9.00 – 12.77 | 131,737 | 35.5% | 39 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Oracle verkauft KI ausdrücklich als Produkt: Die Cloud-Infrastruktur OCI führt „AI Infrastructure, generative AI and agentic AI“ als eigene Angebote, die Cloud-Infrastruktur-Erlöse stiegen im Geschäftsjahr 2026 um 77 Prozent auf 18,101 Mrd. US-Dollar und im Quartal bis 31. August 2026 um 121 Prozent auf 7,388 Mrd. US-Dollar — in diesem Quartal kamen nach Unternehmensangabe mehr als 30 Mrd. US-Dollar neue KI-Cloud-Verträge hinzu.
View the full file — quotes, sources, reviewed filings
„OCI offerings are designed to deliver our infrastructure technologies, including compute, storage, networking, and cloud-native services, along with new and innovative solutions such as AI Infrastructure, generative AI and agentic AI."
Die OCI-Angebote sind darauf ausgelegt, unsere Infrastruktur-Technologien bereitzustellen — Rechenleistung, Speicher, Netzwerk und cloud-native Dienste — zusammen mit neuen und innovativen Lösungen wie KI-Infrastruktur, generativer KI und agentischer KI.
10-K · 2026-06-22 · View SEC filing
„We are building AI into many of our product offerings and we are also making AI available for our customers to use in solutions that they build. We have made significant investments in AI initiatives, including investments in infrastructure and headcount, and we expect to continue to invest significant resources to build and support our AI products in support of our growth strategy."
Wir bauen KI in viele unserer Produktangebote ein und stellen KI zugleich unseren Kunden für eigene Lösungen zur Verfügung. Wir haben erheblich in KI-Vorhaben investiert, unter anderem in Infrastruktur und Personal, und wir gehen davon aus, weiterhin erhebliche Mittel für Aufbau und Betrieb unserer KI-Produkte einzusetzen, um unsere Wachstumsstrategie zu stützen.
10-K · 2026-06-22 · View SEC filing
„Our OCI offerings also include cloud-based compute, storage and networking capabilities, application development and cloud native services, among others, and new and innovative services such as AI Infrastructure offerings and emerging technologies such as generative AI, agentic AI, IoT and blockchain."
Unsere OCI-Angebote umfassen außerdem cloud-basierte Rechen-, Speicher- und Netzwerkleistungen, Anwendungsentwicklung und cloud-native Dienste sowie neue und innovative Dienste wie KI-Infrastruktur-Angebote und aufkommende Technologien wie generative KI, agentische KI, IoT und Blockchain.
10-K · 2025-06-18 · View SEC filing
„Our products and services include enterprise applications and infrastructure offerings that incorporate and are enhanced by artificial intelligence (AI) technologies, including embedded AI-driven automation and analytics and generative AI capabilities."
Unsere Produkte und Dienstleistungen umfassen Unternehmensanwendungen und Infrastrukturangebote, die Technologien der künstlichen Intelligenz (KI) enthalten und durch sie verbessert werden — darunter eingebettete KI-gestützte Automatisierung und Analytik sowie Fähigkeiten generativer KI.
10-Q · 2026-09-11 · View SEC filing
Filings Reviewed: 10-Q 2026-09-11 · 10-K 2026-06-22 · 10-Q 2026-03-11 · 10-Q 2025-12-11 · 10-Q 2025-09-10 · 10-K 2025-06-18
Rated on October 3, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 10.5%
- More than 10% revenue growth is expected for the coming year 45.7%
- Share count grows by less than 3% a year 1.8%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -17.8%
- Gross margin at 40% or higher and without meaningful erosion 65.2%
- Goodwill from acquisitions does not grow faster than revenue 23.8%
- Net debt below twice EBITDA 3.7 x EBITDA
- Operating cash flow covers the profits of the last three years 31,474 m
- Return on capital at 15% or higher, or up versus two years ago 9.4%
- Insiders hold at least 10% or are net buyers 40.5%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
7/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 6.7%
- Exp. sales growth 3Y > 5% 39.8%
- EBIT growth 10Y > 5% 5.4%
- Exp. EBIT growth 3Y > 5% 37.2%
- Net debt < 4x EBIT 6.0x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 28.2%
- Return on equity > 15% –
- ROCE > 15% 9.4%
- Expected return > 10% 28.6%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Oct 23, 2026 | Smith Maria | EVP, Chief Accounting Officer | Other | 4,673 | 125.54 | 586,648 |
| Oct 23, 2026 | Smith Maria | EVP, Chief Accounting Officer | Other | 8,926 | 0.00 | – |
| Oct 23, 2026 | Henley Jeffrey | Vice Chairman | Other | 3,529 | 125.54 | 443,031 |
| Oct 23, 2026 | Henley Jeffrey | Vice Chairman | Other | 8,033 | 0.00 | – |
| Oct 23, 2026 | Catz Safra | Chief Executive Officer | Other | 2,550 | 125.54 | 320,127 |
| Oct 23, 2026 | Catz Safra | Chief Executive Officer | Other | 8,033 | 0.00 | – |
| Oct 23, 2026 | Levey Stuart | EVP, Chief Legal Officer | Other | 6,130 | 125.54 | 769,560 |
| Oct 23, 2026 | Levey Stuart | EVP, Chief Legal Officer | Other | 12,497 | 0.00 | – |
| Sep 29, 2026 | Rusckowski Stephen H | Director | Buy | 25,000 | 139.35 | 3,483,800 |
| Sep 22, 2026 | Smith Maria | EVP, Chief Accounting Officer | Sell | 2,631 | 151.70 | 399,123 |
The company
About the Company
Oracle Corporation bietet weltweit Produkte und Dienste für Unternehmens-IT-Umgebungen an. Das Software-as-a-Service-Angebot der Oracle Cloud umfasst diverse Cloud-Anwendungen, darunter Oracle Fusion Cloud ERP und Oracle Fusion Cloud-Lösungen.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 141,000
- Headquarters
- Austin, TX
- Address
- 2300 Oracle Way, 78741 Austin, United States
- Phone
- (737) 867-1000
- Website
- oracle.com
- IPO Date
- 03/12/1986
- ISIN
- US68389X1054
- Stock Split
- 2:1 on 10/13/2000
- Stock Split
- 2:1 on 01/19/2000
- Stock Split
- 3:2 on 03/01/1999
Management
| Name | Title | Birth Year |
|---|---|---|
| Lawrence J. Ellison | Co-Founder, Executive Chairman & CTO | 1944 |
| Michael D. Sicilia | Chief Executive Officer & Director | 1971 |
| Clayton M. Magouyrk | Chief Executive Officer & Director | 1986 |
| Safra Ada Catz | Executive Vice Chair | 1962 |
| Hilary Barbara Maxson B.Sc., M.B.A. | Chief Financial Officer | 1978 |
| Mark Hura | President of Global Field Operations | 1974 |
| Stuart A. Levey | Executive VP & Chief Legal Officer | 1964 |
| Douglas A. Kehring | Executive VP & Head of Operations | 1973 |
| Jeffrey O. Henley | Executive Vice Chairman of the Board | 1945 |
| Maria Smith | Executive VP & Chief Accounting Officer | 1967 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 10/28/2026 ORACLE CORP (ORCL): Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 09/14/2026 ORACLE CORP (ORCL): Other Events; Financial Statements and Exhibits SEC ↗
- 09/10/2026 ORACLE CORP (ORCL): Results of Operations and Financial Condition; Other Events; Financial Statements and Exhibits SEC ↗
Data as of: October 30, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.