ORACLE CORPORCL
ORACLE CORP Financial Overview 2021–2025
Oracle has shed its reputation as a low-growth legacy incumbent, evidenced by 62% year-over-year growth in Cloud Infrastructure revenue during the first half of FY2026. This aggressive structural shift indicates that the company's massive capital investments in AI and data center capacity are successfully capturing market share, re-accelerating the top line. The transformation has fundamentally altered the company's growth trajectory, driving total revenue from $40.5 billion in FY2021 to $57.4 billion in FY2025.
Underlying profitability is expanding alongside this revenue resurgence. In the first six months of FY2026, net income more than doubled to $9.06 billion, while the critical Cloud and Software segment now commands 86% of total sales. Efficiency remains a priority even as capital expenditures rise, with the company delivering a 31% operating margin in FY2025. Management continues to support this expansion with a robust balance sheet, holding $19.77 billion in cash and marketable securities as of November 2025. The market has priced in a significant growth premium for this pivot, with shares trading at $165.53—a valuation of 38.1x earnings—at the close of FY2025.
Recent Developments (Q1 and Q2 2026)
Oracle underwent a significant leadership transition in September 2025, appointing Clayton Magouyrk and Michael Sicilia as co-CEOs while Safra Catz shifted to Executive Vice Chair. To fuel its aggressive infrastructure expansion, the company executed massive capital raises, including an $18 billion note issuance in Q2 2026 and a subsequent $25 billion debt offering in February 2026. Operationally, the first half of FY2026 was bolstered by a $2.7 billion gain from divesting its Ampere Computing stake, even as management launched a new restructuring plan with estimated costs up to $1.6 billion.
Bulls argue that 13% total revenue growth in the first half of FY2026 confirms the new leadership’s strategy is successfully capturing AI demand. Bears caution that the stock is priced for perfection, trading at 45.8x earnings as of December 10, 2025, while the balance sheet absorbs substantial new leverage and shareholder dilution risks from recent equity programs.
What to watch: Stability of the new co-CEO structure; deployment of capital from the $20 billion at-the-market equity offering launched in February 2026.
Rev
$57.40B
FY2025
NI
$12.44B
FY2025
EPS
$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, 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.
ORACLE CORP 8-K Report, Material Agreement (Feb 4, 2026)
Oracle Corporation (ORCL) has announced two significant financial actions through its February 4, 2026, 8-K filing. Firstly, the company has established an "at-the-market" (ATM) offering program allowing it to sell up to $20 billion of its common stock over time. This provides Oracle with substantial flexibility to access equity capital as needed, with a syndicate of prominent investment banks acting as sales agents. The offering is registered under an existing shelf registration statement, indicating preparedness for efficient equity issuance. Secondly, Oracle has successfully consummated the issuance of $25 billion in aggregate principal amount of various senior notes. These debt offerings, with maturities ranging from 2029 to 2066 and fixed and floating interest rates, were made pursuant to a recent underwriting agreement and an existing indenture. The net proceeds from this substantial debt issuance are earmarked for general corporate purposes, including potential capital expenditures, debt repayment, strategic investments, acquisitions, and shareholder returns like dividends or stock repurchases. These actions signal a proactive approach to managing its capital structure and funding future growth.
ORACLE CORP 8-K Report, Executive Changes (Jan 9, 2026)
Oracle Corporation (ORCL) has filed an 8-K reporting the immediate retirements of two long-serving directors, George H. Conrades and Naomi O. Seligman, effective January 5 and January 7, 2026, respectively. Mr. Conrades served on the Board for 18 years, while Ms. Seligman provided 20 years of service. Both retirements are amicable and not related to any disagreements with the company's operations, policies, or practices. While the departure of experienced board members can sometimes raise questions, investors should note that these retirements are attributed to the directors' personal decisions to step down after extended tenures. The company has not indicated any immediate plans for board expansion or restructuring in this filing. The lack of any stated disputes suggests a smooth transition and no underlying governance concerns stemming from these departures.
ORACLE CORP 8-K Report, Financial Results (Dec 10, 2025)
Oracle Corporation (ORCL) has filed an 8-K report on December 10, 2025, providing key updates for investors. The company announced its financial results for the fiscal second quarter ended November 30, 2025, alongside a regular quarterly cash dividend declaration. Investors should refer to the press release furnished as Exhibit 99.1 for detailed financial performance metrics, revenue streams, profitability, and any forward-looking statements or guidance provided by management. The report also highlights Oracle's commitment to returning capital to shareholders. The Board of Directors has declared a cash dividend of $0.50 per share, payable on January 23, 2026, to shareholders of record as of January 9, 2026. This consistent dividend payout underscores Oracle's financial stability and its strategy of rewarding its investors.
ORACLE CORP 8-K Report, Executive Changes (Nov 21, 2025)
Oracle Corporation (ORCL) has filed an 8-K report detailing significant corporate governance and shareholder matters. The most notable event is the election of Stephen Rusckowski to the Board of Directors. Mr. Rusckowski's appointment is effective immediately, and he will receive standard compensation for non-employee directors, including restricted stock units that vest over one year, aligning his interests with long-term shareholder value. The filing also includes the results of Oracle's 2025 Annual Meeting of Stockholders, which saw all director nominees elected with substantial support, including a strong affirmation for incumbent directors like Safra A. Catz and Lawrence J. Ellison. Shareholders also provided advisory approval for the compensation of named executive officers and ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the upcoming fiscal year.
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