Oracle

Oracle provides products and services that build, run and support enterprise information technology (IT) frameworks.

10-K, Jun 22, 2026

Voices · third-party opinions, not SEC data

Not investment advice. They could be wrong or outdated. See the original source and date; the view may have changed.

What do investors say about Oracle?

Jim LebenthalInvestorOct 2, 2026Invests

Our summary: Lebenthal disclosed on Halftime Report that he is buying Oracle (and Micron) for his portfolio.

CNBC interview ›

Details ⓘ

Speaker: Jim Lebenthal, Cerity Partners
Role: Investor
Source: CNBC
Format: TV interview
Date: Oct 2, 2026
Checked: Oct 15, 2026

Voice details · not SEC data. As stated on Oct 2, 2026; the view may have changed.

Malcolm EthridgeInvestorDec 11, 2025Skeptical

Our summary: Ethridge said he was selling out of Oracle as the stock plunged after a revenue miss.

CNBC interview ›

Details ⓘ

Speaker: Malcolm Ethridge, Capital Area Planning Group
Role: Investor
Source: CNBC
Format: TV interview
Date: Dec 11, 2025
Checked: Oct 15, 2026

Voice details · not SEC data. As stated on Dec 11, 2025; the view may have changed.

Brook DaneInvestorOct 7, 2025InvestsOlder statement

Our summary: Dane named Oracle an honorable mention that could become a credible hyperscaler and said he would not bet against its team.

“I'm not sure I'd bet against that team.”

CNBC article ›

Details ⓘ

Speaker: Brook Dane, Goldman Sachs Asset Management
Role: Investor
Source: CNBC
Format: News article
Date: Oct 7, 2025
Checked: Oct 15, 2026

Voice details · not SEC data. As stated on Oct 7, 2025; the view may have changed.

All 3 Voices on Oracle ›

Business

How does Oracle make money?

Cloud and License is 86.9% of revenue.

Cloud and License86.9%

Services8.5%

Hardware4.6%

What is left of every $100?

Of every $100 in revenue, $25 is net income.

Revenue$100

Gross profitnot reported

Operating income$31

Net income$25

Free cash flow−$35

Where do customers sit?

59.1% of revenue is from United States.

United States59.1%

United Kingdom4.2%

Germany3.0%

Japan2.8%

Other countries30.9%

In the company’s words ›

“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.”

“These offerings are delivered worldwide through a variety of flexible and interoperable IT deployment models.”

“These models include cloud-based, on-premise and hybrid deployments, such as Oracle Exadata Cloud@Customer and multicloud options that enable customers to use Oracle cloud offerings in conjunction with other public clouds.”

Item 1 · Business · 10-K · 0001193125-26-277521 · filed Jun 22, 2026

Where did the growth actually come from?

Cloud and License drove 97% of Oracle’s growth.

Revenue FY2016$37.0B

Cloud and License+$29.5B

Services+$2.4B

Hardware−$1.6B

Revenue FY2026$67.4B

Thesis

Why do people invest?

3 reasons in the company’s own words.

Revenue growth

“Total revenues increased by $10.0 billion in reported currency in fiscal 2026 relative to fiscal 2025 due to a $9.3 billion increase in cloud and software revenues, a $510 million increase in services revenues and a $148 million increase in hardware revenues, in each case during fiscal 2026 relative to fiscal 2025.”
Item 7 · MD&A · 10-K · 0001193125-26-277521 · filed Jun 22, 2026
Number check (revenue): stated $10.0B matches the stored change ($10.0B, ±10%)

Revenue: $67.4B FY2026 · +17.3% vs FY2025 · KPIs
Position (in the company’s words)

“Our OCA offerings represent an industry-leading business innovation platform leveraging OCI and include a broad suite of modular, next-generation cloud software applications spanning all core business functions.”
Item 1 · Business · 10-K · 0001193125-26-277521 · filed Jun 22, 2026
R&D investment

“Total research and development expenses increased by $412 million in reported currency in fiscal 2026 relative to fiscal 2025.”
Item 7 · MD&A · 10-K · 0001193125-26-277521 · filed Jun 22, 2026
Number check (R&D expense): stated $412M matches the stored change ($412M, ±10%)

R&D expense: $10.3B FY2026 · +4.2% vs FY2025 · Profitability charts

Dependencies

Who does Oracle depend on?

No customer above the disclosure threshold.

Customers, suppliers, stakes and mentions ›

Only what filings state. Anonymous customers stay anonymous.

Largest customers (Oracle annual report)

No customer with a reported share of revenue (the 10-K names none above the disclosure threshold).

Suppliers named by Oracle

No supplier among the covered companies is named in the filings.

Oracle holds stakes in

No stake in a covered company found in SEC filings.

Others name Oracle

8 competitor mentions (e.g. Autodesk, CoreWeave, IBM, MongoDB) · 3 other mentions (e.g. MongoDB, Okta, Palo Alto Networks) · 3 partner mentions (e.g. Everpure, IBM, Infosys) · 1 supplier mention (e.g. Zoom) in covered companies’ filings. Mentions, not confirmed relationships.

Risks

What could go wrong?

4 of 7 risk factors, one per theme.

Trade, government policy and geopolitics
“Economic, political and market conditions can adversely affect our business, results of operations and financial condition, including our revenue growth and profitability, which in turn could adversely affect our stock price.”
Item 1A · Risk Factors · 10-K · 0001193125-26-277521 · filed Jun 22, 2026
AI and new products
“We may be unsuccessful in developing and selling new products and services, integrating acquired products and services and enhancing our existing products and services.”
Item 1A · Risk Factors · 10-K · 0001193125-26-277521 · filed Jun 22, 2026
Security, defects and outages
“We are subject to business, financial and reputational risks related to cybersecurity incidents and data breaches.”
Item 1A · Risk Factors · 10-K · 0001193125-26-277521 · filed Jun 22, 2026
Regulation and legal proceedings
“Adverse litigation results could affect our business.”
Item 1A · Risk Factors · 10-K · 0001193125-26-277521 · filed Jun 22, 2026

Who’s invested

Who owns more than 5%?

Ellison Lawrence Joseph held 41.8%.

Ellison Lawrence Joseph41.8% (then)
13G/A · as of Dec 31, 2023 · filed Feb 9, 2024 · older than 18 months, current position unknown

13F holders and insider trades ›

Largest institutional holders, 13F, quarter ending Jun 30, 2026

BlackRock, Inc.10.9%
151.6M shares · 13F filed Aug 7, 2026 · share of 13F-reported
Vanguard Capital Management LLC8.0%
111.8M shares · 13F filed Aug 13, 2026 · share of 13F-reported
State Street Corp5.8%
80.2M shares · 13F filed Aug 7, 2026 · share of 13F-reported
Capital Research Global Investors4.2%
58.5M shares · 13F filed Aug 12, 2026 · share of 13F-reported
Vanguard Portfolio Management LLC4.1%
57.3M shares · 13F filed Aug 13, 2026 · share of 13F-reported

3,547 13F filers report positions. 13F covers managers with over $100M in US equities; it is not a full shareholder list, and shares are not a percentage of shares outstanding. 1 large filing with inconsistent reported value per share left out.

Insiders, last 12 months (Form 4, open market)

1 purchases · 27 sales · $113M sold

Grants, gifts and tax withholding counted separately · window Oct 13, 2025 – Oct 13, 2026

All metrics

All metrics · 39 SEC metrics, FY2017–FY2026

Income statement 10

Metric	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
G&A

Gross profit	not reported	not reported	not reported	not reported	not reported	not reported	not reported	not reported

Income taxes

Interest expense

Net income

Operating income

Research and development

Revenue

SG&A calc.

Sales & marketing

Balance sheet 9

Metric	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents

Current liabilities

Equity

Equity incl. NCI

Long-term debt

Short-term debt (balance sheet line)

Total assets

Total debt calc.

Total liabilities & equity

Cash flow 7

Metric	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Buybacks

Capex

Dividends

Free cash flow calc.

Interest paid

Operating cash flow

Stock-based compensation

Per share & shares 4

Metric	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
EPS basic

EPS diluted

Wtd. shares basic

Wtd. shares diluted

Segments 5

Metric	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
Cloud revenue (IaaS + SaaS) calc.	not reported	not reported	not reported	not reported	not reported	not reported

License revenue calc.

Revenue Segment Cloud and License

Revenue Segment Hardware

Revenue Segment Services

Other 4

Metric	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
NCI income		not reported	not reported	not reported	not reported	not reported	not reported	not reported

Other income (incl. interest)	not reported	not reported	not reported	not reported	not reported	not reported	not reported	not reported

Pretax income	not reported	not reported	not reported	not reported	not reported	not reported	not reported	not reported

Total liabilities calc.

Oracle

Source and method

What do investors say about Oracle?

Business

Cloud and License is 86.9% of revenue. i

Source and method

Of every $100 in revenue, $25 is net income. i

Source and method

59.1% of revenue is from United States. i

Source and method

Cloud and License drove 97% of Oracle’s growth.

Thesis

3 reasons in the company’s own words. i

Source and method

KPIs

Revenue grew 17% to $67.4B.

Revenue grew 30% YoY to $19.3B.

Per share, revenue grew 28.0%.

30.6% operating margin, down from 30.8%.

Operating income grew 17% to $20.6B.

Net income grew 37% to $17.1B.

R&D grew 4.2% to $10.3B.

SG&A fell 3.0% to $9.9B.

EPS diluted grew 34% to $5.83.

34.8% operating margin, up from 28.7%.

Operating income grew 57% YoY to $6.7B.

Net income grew 63% YoY to $4.8B.

R&D fell 3.6% YoY to $2.4B.

SG&A fell 10% YoY to $2.2B.

EPS diluted grew 54% YoY to $1.56.

Free cash flow was negative: −$23.7B in FY2026.

Operating cash flow grew 54% to $32.0B.

Capex grew 162% to $55.7B.

Buybacks fell 84% to $95.0M.

Dividends grew 22% to $5.8B.

Stock-based compensation grew 2.9% to $4.8B.

Free cash flow: −$5.4B in FY2027 Q1.

Operating cash flow grew 184% YoY to $23.1B.

Capex grew 235% YoY to $28.5B.

Buybacks: $0 in FY2026 Q4.

Dividends grew 11% YoY to $1.6B.

Stock-based compensation grew 0.3% YoY to $1.1B.

$31.3B cash vs $129.5B debt.

Total debt grew 40% to $129.5B.

Interest expense grew 29% to $4.6B.

Total assets grew 55% to $261.8B.

Equity grew 108% to $42.5B.

Cash grew 248% YoY to $36.4B.

Total debt grew 37% YoY to $125.3B.

Interest expense grew 55% YoY to $1.4B.

Total assets grew 68% YoY to $303.3B.

Equity grew 176% YoY to $66.8B.

Cloud revenue grew 39% to $34.0B.

License revenue fell 8.9% to $4.7B.

Revenue grew 17% to $67.4B.

Cloud revenue grew 62% YoY to $11.6B.

License revenue fell 14% YoY to $655M.

Revenue grew 30% YoY to $19.3B.

Dependencies

No customer above the disclosure threshold.

Risks

4 of 7 risk factors, one per theme. i

Source and method

Who’s invested

Ellison Lawrence Joseph held 41.8%. i

Source and method

All metrics

Method

Cloud and License is 86.9% of revenue.

Of every $100 in revenue, $25 is net income.

59.1% of revenue is from United States.

3 reasons in the company’s own words.

4 of 7 risk factors, one per theme.

Ellison Lawrence Joseph held 41.8%.