ORACLE CORPORCL
ORACLE CORP Financial Overview 2022–2026
Updated Jul 10, 2026Oracle's capital expenditures surged 162% to an unprecedented $55.7 billion in FY2026—a massive outlay that underscores the company's aggressive strategy to capture surging cloud and AI demand. The central investment thesis is clear: Oracle has decisively transformed from a legacy on-premise software provider into a high-growth cloud infrastructure heavyweight, weaponizing its balance sheet to fund relentless data center expansion.
The company's core cloud and software segment steadily expanded its footprint, growing from 85% of total revenues in FY2022 to 87% of total revenues in FY2026. During FY2026, total revenues jumped 17% to $67.4 billion, heavily driven by 77% growth in its cloud infrastructure unit. Despite these aggressive capital outlays and a $1.8 billion restructuring charge, Oracle defended its profitability, holding its operating margin steady at 31%. However, the immense infrastructure build-out pushed free cash flow to a negative $(23.7) billion for the year, prompting the company to issue $43.0 billion in senior notes to sustain its operations and liquidity.
The market has enthusiastically endorsed this capital-intensive pivot. At the close of FY2025, Oracle commanded a $464.6 billion market cap, trading at a 38.1x P/E ratio with a stock price of $165.53. This valuation premium expanded further as shares climbed to $225.78 by the end of FY2026, reflecting deep investor conviction that the company's high-stakes bets on data center capacity will yield long-term market dominance.
Recent Developments (Q3 and Q4 2026)
Beyond Oracle's infrastructure build-out, the second half of FY2026 was defined by a significant executive transition and aggressive capital raising. On April 6, 2026, Hilary Maxson assumed the Chief Financial Officer role, inheriting a balance sheet newly fortified by a $20.0 billion at-the-market equity program and $5.0 billion in mandatory convertible preferred stock. Operationally, quarterly growth remained exceptional; in Q3 2026, total revenues surged 22% to $17.19 billion, while cloud revenues jumped 24% to $15.03 billion and net income expanded to $3.72 billion.
Bulls argue this top-line acceleration easily justifies the premium pricing, with shares trading at 40.3x earnings as of June 22, 2026. Conversely, bears warn that a 20% spike in Q3 2026 operating expenses to $11.73 billion—coupled with impending equity dilution—could severely pressure per-share earnings if capacity outpaces near-term demand.
What to watch: financial strategy execution under the new Chief Financial Officer; potential equity dilution from the convertible preferred stock and at-the-market program.
Rev
$57.40B
FY2025
NI
$12.44B
FY2025
EPS$ORCL
$4.46
FY2025
OCF
$20.82B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
ORACLE CORP 8-K Report, Financial Results (Jun 10, 2026)
Oracle Corporation has filed an 8-K report on June 10, 2026, primarily announcing its financial results for the fiscal fourth quarter ended May 31, 2026. While the full details of the financial performance are available in the furnished press release (Exhibit 99.1), the 8-K also discloses a significant event related to shareholder returns. Investors should consult the press release for specific revenue, profit, and guidance metrics.
ORACLE CORP 8-K Report, Executive Changes (May 12, 2026)
Oracle Corporation (ORCL) has announced a key change to its Board of Directors through an 8-K filing dated May 12, 2026. The company has unanimously elected Dr. Tomislav Mihaljevic to serve as a director, effective immediately as of May 6, 2026. This appointment brings new expertise to the board, though Dr. Mihaljevic is not currently slated for any committee assignments. Dr. Mihaljevic's compensation as a non-employee director will align with Oracle's standard practices, including restricted stock units (RSUs) that vest after one year of service and standard cash compensation. His appointment is not contingent on any external agreements and he has no reportable related-party transactions or familial ties to existing directors or officers, indicating a clean integration into the board's governance structure. The company also confirmed entering into a standard indemnification agreement with Dr. Mihaljevic.
ORACLE CORP 8-K Report, Executive Changes (Apr 6, 2026)
Oracle Corporation (ORCL) has announced a significant leadership change with the appointment of Hilary Maxson as its new Chief Financial Officer (CFO), effective April 6, 2026. Ms. Maxson brings extensive financial leadership experience from her previous role as Executive Vice President and Group CFO at Schneider Electric SE, where she was instrumental in capital allocation, business model transformation, and long-term value creation strategies. Her appointment signals a continued focus on strategic financial management and operational efficiency for Oracle. This appointment comes with a comprehensive compensation package designed to attract and retain top talent, including a substantial base salary, performance-based bonus targets, relocation assistance, and a significant equity grant valued at $26 million. The equity award is structured with both time-based and performance-based components, aligning Ms. Maxson's incentives with Oracle's long-term growth and revenue objectives. Concurrently, Douglas Kehring will transition from his role as Principal Financial Officer to focus on strategic initiatives as Executive Vice President, Operations.
ORACLE CORP 8-K Report, Financial Results (Mar 10, 2026)
Oracle Corporation (ORCL) has filed an 8-K report on March 10, 2026, to announce its financial results for the fiscal third quarter ended February 28, 2026, through a press release furnished as Exhibit 99.1. While the full financial details are available in the press release, the 8-K itself highlights a significant declaration of dividends by the Board of Directors. This includes a substantial cash dividend for its outstanding Mandatory Convertible Preferred Stock and a regular quarterly dividend for its common stock.
ORACLE CORP 8-K Report, Material Agreement (Feb 5, 2026)
Oracle Corporation (ORCL) announced a significant financing event through the issuance and sale of 100,000,000 depositary shares representing interests in its 6.50% Series D Mandatory Convertible Preferred Stock. This offering, which closed on February 5, 2026, was conducted under Oracle's existing shelf registration statement. The mandatory convertible preferred stock carries a liquidation preference of $100,000 per share and is designed to automatically convert into Oracle's common stock within a specified range of shares on or around January 15, 2029, based on a volume-weighted average price calculation.
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