At a glance
Oracle Corporation is worth $360.49B, about 20 times its fiscal 2026 earnings. Revenue grew 17.3% to $67.36B in fiscal 2026, with 25.4% kept as profit; over 5 years it has grown 10.7% a year. It pays a 2.36% dividend yield, raised every year for at least 9 years, and returned $41.49B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned −53.7% over the past year with dividends reinvested and +6.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 28.3% in the 2020 crash (S&P 500: 33.7%) and 31.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 3 months after the lows.
The business in plain English
Oracle sells the software, cloud services and hardware that organizations use to run their operations. Its products include the Oracle AI Database and Oracle Cloud Infrastructure (OCI), which rents out computing power and storage. It also sells business applications: Fusion Cloud ERP (enterprise resource planning, covering finance and supply chains), Fusion Cloud HCM for human resources, NetSuite for smaller firms and Oracle Health for medical providers. Customers include businesses, government agencies and schools, reached through Oracle's sales force and partner network.
Most revenue comes from cloud subscriptions, software licenses and the yearly support contracts sold alongside them. The 10-K says substantially all license buyers also buy support, and customers can renew those contracts each year, which brings repeat income. In the fiscal year ended May 31, 2026, revenue was $67.4 billion. The cloud and software business supplied 86.9% of it, services 8.5% and hardware 4.6%. Software support brought in $19.8 billion, cloud infrastructure $18.1 billion and software licenses $4.7 billion.
The mix has shifted toward the cloud. Cloud revenue was 51% of the total in fiscal 2026, up from 37% in fiscal 2024. Over the same period, cloud applications fell from 65% to 47% of cloud revenue as infrastructure grew faster. The US supplied 59.1% of revenue, the UK 4.2%, Germany 3% and Japan 2.8%.
Price history
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ORCL -53.7% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Software Revenues | $24.54B | 36.4% |
| Software Support | $19.80B | 29.4% |
| Cloud Infrastructure | $18.10B | 26.9% |
| Software License | $4.74B | 7% |
By business segment
| Cloud And Software Business | $58.53B | 86.9% |
| Services Business | $5.74B | 8.5% |
| Hardware Business | $3.08B | 4.6% |
By geography
| US | $39.84B | 59.1% |
| Other Countries | $20.84B | 30.9% |
| GB | $2.82B | 4.2% |
| DE | $1.99B | 3% |
| JP | $1.87B | 2.8% |
Latest results
- In Q1 FY2027 (ended Aug 31, 2026), revenue was $19.34B, up 29.6% from a year earlier, and net income was $4.76B (+62.6%).
- For fiscal 2026, revenue was $67.36B (+17.3% year over year; +10.7% a year from FY2021 to FY2026) with a 25.4% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +10.7% good |
|---|---|
| Operating margin | 30.6% good |
| Free cash flow margin | -35.2% weak |
| Return on equity (FY2026) | 40.2% good |
| Return on assets (FY2026) | 6.5% watch |
| Net cash (cash minus debt) | $-92.46B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $40.48B | $13.75B | $13.75B |
| FY2022 | $42.44B | $6.72B | $5.03B |
| FY2023 | $49.95B | $8.50B | $8.47B |
| FY2024 | $52.96B | $10.47B | $11.81B |
| FY2025 | $57.40B | $12.44B | $-394.0M |
| FY2026 | $67.36B | $17.09B | $-23.69B |
Valuation snapshot
| Market value | $360.49B |
|---|---|
| P/E ratio | 20.4 |
| Dividend yield | 2.36% |
Rank among 1514 US companies
Market value at each year end
Oracle’s market value went from $157.74B at the end of 2016 to $360.49B on Nov 2, 2026, about 2.3 times as much; since the end of 2025 it is down 36%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $360.49B | -35.6% |
| 2025 | $560.00B | +20.2% |
| 2024 | $466.08B | +60.8% |
| 2023 | $289.82B | +31.5% |
| 2022 | $220.39B | -5.4% |
| 2021 | $232.89B | +22.3% |
| 2020 | $190.45B | +12.1% |
| 2019 | $169.94B | +4.9% |
| 2018 | $162.04B | -17.2% |
| 2017 | $195.72B | +24.1% |
| 2016 | $157.74B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ORCL price data to Nov 2, 2026 | -37.7% | -53.7% | +5.1% | +6.0% | +13.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -37.7% |
| 2025 | +18.2% |
| 2024 | +60.0% |
| 2023 | +30.9% |
| 2022 | -4.7% |
| 2021 | +36.9% |
| 2020 | +24.2% |
| 2019 | +19.3% |
| 2018 | -3.0% |
| 2017 | +24.9% |
| 2016 | +6.9% |
| 2015 | -17.6% |
| 2014 | +19.0% |
| 2013 | +16.1% |
| 2012 | +33.6% |
| 2011 | -17.5% |
| 2010 | +28.6% |
| 2009 | +39.4% |
| 2008 | -21.5% |
| 2007 | +31.7% |
| 2006 | +40.4% |
| 2005 | -11.0% |
| 2004 | +3.7% |
| 2003 | +22.5% |
| 2002 | -21.8% |
| 2001 | -52.5% |
| 2000 | +3.7% |
| 1999 | +289.8% |
| 1998 | +93.3% |
| 1997 | -19.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 38.7% over that stretch · deepest drop along the way 41.1%, back to its old high 9.3 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 20.3% over that stretch · deepest drop along the way 28.3%, back to its old high 3.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 26.2% over that stretch · deepest drop along the way 31%, back to its old high 3.4 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 1 open-market purchases ($3.5M) and 3 sales ($5.3M), 2 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 29, 2026 | Stephen H Rusckowski Director | buy | $3.5M |
| Sep 22, 2026 | Michael D. Sicilia Chief Executive Officer | sell (plan) | $3.4M |
| Sep 16, 2026 | Michael D. Sicilia Chief Executive Officer | sell (plan) | $1.5M |
| Sep 22, 2026 | Maria Smith EVP, Chief Accounting Officer | sell | $399K |
Who owns it
ETFs with the most weight in ORCL
| TRFK Pacer Data and Digital Revolution ETF | 9.86% |
| IGV iShares Expanded Tech-Software Sector ETF | 7.9% |
| JXX Janus Henderson Transformational Growth ETF | 7.07% |
| TDIV First Trust NASDAQ Technology Dividend Index Fund | 6.41% |
| TDVI FT Vest Technology Dividend Target Income ETF | 6.4% |
| ILDR First Trust Innovation Leaders ETF | 5.19% |
| FCTE SMI 3Fourteen Full-Cycle Trend ETF | 4.99% |
| FCLD Fidelity Cloud Computing ETF | 4.56% |
What could go wrong
- Securing data center capacity at affordable prices. If Oracle cannot secure enough data center capacity at affordable rates, or misjudges how much it needs, profits may suffer. Free cash flow (cash left after capital spending) was negative $23.7 billion in fiscal 2026.
- The cloud strategy has to deliver. Cloud made up 51% of revenue in fiscal 2026, and Oracle is counting on moving existing customers to Oracle Cloud. The 10-K warns revenue and profits may decline if this strategy falters.
- A heavy debt load. Total debt was about $129.5 billion as of May 31, 2026. The 10-K lists outstanding and future borrowing as a risk. Heavy debt raises interest costs and leaves less room if business slows.
- New shares dilute existing owners. Oracle's mandatory convertible preferred stock will turn into common shares, and an at-the-market program lets it sell new stock gradually. Both shrink each owner's slice. Preferred holders also get dividends first.
- AI products may not work as hoped. Oracle builds AI into its database, applications and cloud. The 10-K warns these features may not work as expected, which could damage its reputation and hurt revenue and profits.
- Health and government customers bring extra rules. Oracle's healthcare business sells into a heavily regulated industry, where breaking a rule could hurt it. Government customers bring budget cycles, shutdowns, audits and the risk of early contract terminations.
Recent events
- Investor presentation or announcement
- Other company announcement
- Quarterly results released; Other company announcement
- Quarterly results released; Other company announcement
- Executive or board change; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Other company announcement
- Major agreement signed; Change to shareholder rights; Bylaws or fiscal year changed
- Major agreement signed; Other company announcement
- Executive or board change
For income and retirement investors
Oracle has raised its dividend at least nine years in a row through fiscal 2026. Dividends per share rose from $1.04 in fiscal 2021 to $2.00 in fiscal 2026, about 14% a year. Dividends took 33.9% of fiscal 2026 earnings. But free cash flow (cash left after capital spending) was negative $23.7 billion, so it did not cover the $5.8 billion paid out. The yield was 2.15% as of October 30, 2026. Buybacks shrank from $16.2 billion in fiscal 2022 to $95 million in fiscal 2026, and the share count rose 13.2% between December 2021 and September 2026.
In past downturns the stock fell 41.1% (2008 financial crisis), 28.3% (2020 COVID crash) and 31% (2022 bear market). It took about 9, 4 and 3 months from the low to regain its earlier high. It fell 48.2% in the year to October 30, 2026. Like any single stock, Oracle carries more risk than a diversified fund.
Questions investors ask
How does Oracle make money?
Mostly from cloud services and software. In the fiscal year ended May 31, 2026, Oracle's cloud and software business produced 86.9% of its $67.4 billion revenue. That includes cloud subscriptions, software licenses and yearly support contracts. Software support brought in $19.8 billion and Oracle Cloud Infrastructure, which rents out computing power and storage, $18.1 billion. Professional services supplied 8.5% of revenue and hardware, including servers and storage, 4.6%. The US accounted for 59.1% of sales.
Does Oracle raise its dividend every year?
Yes, for at least nine straight years through fiscal 2026. Oracle paid $2.00 per share in fiscal 2026, up from $1.04 in fiscal 2021, a growth rate of about 14% a year. The yield was 2.15% as of October 30, 2026. Dividends used 33.9% of fiscal 2026 earnings, but free cash flow was negative that year, so the payments were not covered by cash left after capital spending. Past increases do not guarantee future ones.
How much debt does Oracle have?
About $129.5 billion in total debt as of May 31, 2026. Cash and investments were $37.1 billion as of August 31, 2026. Free cash flow (cash left after capital spending) was negative $23.7 billion in fiscal 2026, after a small negative figure in fiscal 2025. The 10-K lists its debt as a risk. Oracle has also issued mandatory convertible preferred stock and set up an at-the-market program to sell new shares, both of which can dilute existing owners.
How volatile is Oracle stock?
Quite volatile. Over the year to October 30, 2026, its beta was 2.54, meaning it tended to move about two and a half times as much as the broad market. The share price fell 48.2% over that year, and its largest peak-to-low drop was 58.5%. Its worst drop in about 30 years of trading history was 84.2%. Over longer periods, the stock returned about 14.9% a year over 10 years and 7.9% a year over five years, both to October 30, 2026.
How fast is Oracle's cloud business growing?
Faster than the rest of Oracle. Cloud revenue grew from 37% of the company's total in fiscal 2024 to 43% in fiscal 2025 and 51% in fiscal 2026. Total revenue rose 17.3% in fiscal 2026, and revenue for the quarter ended August 31, 2026, was $19.3 billion, up 29.6% from a year earlier. Oracle says customers moving support contracts to Oracle Cloud added $5.4 billion of annualized cloud revenue over three fiscal years. That growth has come alongside negative free cash flow in fiscal 2025 and 2026.