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Sells database software, cloud business applications, and cloud infrastructure (OCI) increasingly used for AI training.
Sells database software, cloud business applications, and cloud infrastructure (OCI) increasingly used for AI training.
Collects licence and support fees from a decades-old base of database customers, plus subscriptions for its business applications. The newest layer is renting AI computing capacity under very large multi-year contracts, notably with OpenAI. Co-founder Larry Ellison is chairman and largest shareholder; Cerner was bought in 2022.
Moat: narrow (switching costs, installed base). Decades-old database installed base is costly to migrate, though cloud infrastructure competes with newer entrants.
Headquarters: Austin, Texas, US · Founded: 1977 · Employees: 141,000
Size Oracle (ORCL) is a United States Information Technology company (Packaged Software) with a market value of $351B, the 30th largest of 3,117 United States companies the cockpit tracks. Shares closed at $116.10 on 6 Nov 2026.
Performance Over six months the shares fell 40.8%, against +16.4% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 12 in its peer set.
Growth Revenue grew 21.6% over the last twelve months (peer median +21.8%); the operating margin is 34.2% (peer median 28.8%).
Valuation It trades at 13.6× forward earnings against a peer median of 29.8× (2nd cheapest of 12).
Capital Return on invested capital runs 1.6 points below its cost of capital (11.1% WACC).
Backlog Backlog (remaining performance obligations) was $664B at 31 Aug 2026, up 46% on a year earlier — 9.3 years of trailing revenue. Backlog detail →
Credit Oracle has 59 bonds outstanding ($120B), rated BBB- by the agencies and trading like BB- at a weighted spread of 291 bp.
Short interest Short interest is 1.6% of the free float (15 Oct 2026).
Next results Next results expected around 14 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $71.8B | $67.4B | $57.4B | $53.0B | $50.0B |
| Revenue growth | — | +17% | +8% | +6% | — |
| Gross profit | $44.5B | $42.7B | $38.2B | $34.8B | $32.8B |
| EBITDA | $35.5B | $31.7B | $24.2B | $22.2B | $19.9B |
| Net income | $18.9B | $17.1B | $12.4B | $10.5B | $8.50B |
| Free cash flow | -$28.7B | -$23.7B | -$394M | $11.8B | $8.47B |
| Capital expenditure | $75.7B | $55.7B | $21.2B | $6.87B | $8.70B |
| Total debt | $169B | $167B | $109B | $94.5B | $95.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Oracle ORCL | $351B | -41% | +22% | 34% | 13.6× | n/a |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 25.5× | 17.2% |
| Sap SAP.DE | $276B | +49% | +8% | 29% | 29.8× | 14.9% |
| Salesforce CRM | $176B | +18% | +11% | 22% | 14.6× | 13.7% |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 26.3× | n/a |
| Workday WDAY | $46.5B | +51% | +14% | 13% | 16.0× | 19.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ORCL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.4% | -8.3% | 6th lowest of 12 |
| 6-month return | -40.8% | +16.4% | lowest of 12 |
| Distance from 52-week high | -53.6% | -27.4% | lowest of 12 |
| Revenue growth (TTM) | +21.6% | +21.8% | 6th lowest of 12 |
| Operating margin | 34.2% | 28.8% | 4th highest of 12 |
| Forward P/E | 13.6× | 29.8× | 2nd cheapest of 12 |
| ROIC minus cost of capital | -1.6 pp | +4.2 pp | 4th lowest of 11 |
| EV / EBITDA | 13.8× | 19.6× | 3rd cheapest of 8 |
| Net debt / EBITDA | 3.7× | 0.1× | most indebted of 11 |
| Bond spread | 291 bp | 93 bp | widest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Oracle ORCL | United States | $351B | -41% | +22% | 34% | 13.6× | n/a | n/a |
| Palantir Technologies PLTR | United States | $386B | +16% | +87% | 46% | 69.8× | 56.6% | +32.6% |
| Sap SAP.DE | Germany | $276B | +49% | +8% | 29% | 29.8× | 14.9% | +6.1% |
| Palo Alto Networks PANW | United States | $257B | +51% | +24% | 5% | 75.0× | n/a | n/a |
| CrowdStrike CRWD | United States | $222B | +64% | +24% | -1% | 153.6× | 52.4% | +40.6% |
| Salesforce CRM | United States | $176B | +18% | +11% | 22% | 14.6× | 13.7% | +14.3% |
| AppLovin APP | United States | $131B | -16% | +29% | 78% | 20.0× | 28.2% | +30.4% |
| ServiceNow NOW | United States | $106B | +12% | +22% | 13% | 22.4× | 29.5% | +24.1% |
| SNOW SNOW | United States | $97.3B | +81% | +32% | -22% | 108.4× | 41.3% | +51.2% |
| Adobe ADBE | United States | $93.1B | -5% | +12% | 36% | 8.9× | 0.9% | +13.1% |
| Intuit INTU | United States | $91.3B | -14% | +14% | 29% | 14.8× | 3.1% | +17.4% |
| Cadence Design Systems CDNS | United States | $87.8B | -12% | +18% | 30% | 34.0× | 29.9% | +14.6% |
Oracle has 59 bonds outstanding with $120B face value. The agencies rate it BBB-; its bonds trade like BB-. Weighted yield 7.81%, a spread of 291 bp over government bonds.
Oracle reported $664B of remaining performance obligations at 31 Aug 2026, up 46% from a year earlier and up 4% from the previous quarter. That is 9.3 years of trailing revenue already under contract. Book-to-bill last quarter: 2.34.