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$141.58
Market Capi
$411B
Growth-adj P/E (3-yr hist)i
1.5x
Growth-adj P/E (3-yr proj)i
0.3x
P/S 27Ei
4.5x
P/S 29Ei
2.2x
EV/EBIT 27Ei
15x
EV/EBIT 29Ei
8.0x
P/E 27Ei
20x
P/E 29Ei
10x
P/S 27Ei
4.5x
EV/EBIT 27Ei
15x
P/E 27Ei
20x
P/S 29Ei
2.2x
EV/EBIT 29Ei
8.0x
P/E 29Ei
10x
Revenue
2027E
$89B
Gross Margini
66%
Hist. CAGRi
10%
Proj. CAGRi
39%
EBIT
2027E
$36B
Op. Margini
33%
Hist. CAGRi
18%
Proj. CAGRi
44%
Net profit
2027E
$19B
Net Margini
25%
Hist. CAGRi
26%
Proj. CAGRi
35%
Business Model
Recent Developments
Average Targeti
$237.97+67%
Consensusi
Buy
43 analysts covering
Net debti
$117B
Div. Yieldi
1.5%
Dilutioni
2.6%
Market Capi
$411B
P/E 27Ei
20x
Adj. P/E (fwd.)i
0.3x
Revenue 27E
$89B
Proj. CAGRi
39%
Gross Margini
66%
EBIT 27E
$36B
Proj. CAGRi
44%
Op. Margini
33%
Net Profit 27E
$19B
Proj. CAGRi
35%
Net Margini
25%
Average Targeti
$237.97+67%
Consensusi
Buy
43 analysts covering
Profile
Oracle is the world's largest enterprise software company, selling database technology, cloud applications, and now cloud infrastructure. Revenue is organized into three broad categories:
The mix is actively shifting toward cloud: Oracle Cloud Infrastructure (OCI) is the fastest-growing segment, and cloud applications — Fusion ERP, NetSuite, Cerner Health — are collectively above a $16.9 billion annualized run rate.
Industry
Oracle sells primarily to large enterprises and government entities across virtually every vertical: financial services, healthcare (via Cerner), manufacturing, retail, and public sector. The Americas contribute roughly 71% of revenue, EMEA 19%, and Asia-Pacific 10%. The market is highly competitive — AWS, Azure, Google Cloud, SAP, and Salesforce all overlap in various segments — but Oracle benefits from deep entanglement in customers' core operational systems, which creates strong retention.
Key metrics
Economic moat
Switching costs are Oracle's deepest moat. Enterprise customers run Oracle Database and Oracle ERP at the core of their operations; migrating off requires multi-year re-implementation projects with significant risk, making churn rare even when pricing rises. The Cerner acquisition added healthcare data lock-in at scale. On the infrastructure side, OCI is building a second moat through long-term contracted capacity — the $664 billion RPO reflects demand that is locked in before capacity is even built, a structural advantage that mirrors the hyperscaler flywheel.
Larry Ellison
Ellison co-founded Oracle in 1977 and built it into the world's dominant enterprise database company over five decades. He stepped back from the CEO role he had held since founding but remains Chairman of the Board and Chief Technology Officer, setting technical direction for OCI and Oracle's AI strategy. His continued deep involvement — and his large ownership stake — means Oracle is still functionally founder-led despite the formal management transition.
Clay Magouyrk & Mike Sicilia
In September 2025, Oracle promoted Clay Magouyrk and Mike Sicilia to serve as co-Chief Executive Officers. Magouyrk previously led Oracle Cloud Infrastructure from its inception, having joined Oracle in 2014 from Amazon Web Services as a founding architect of OCI's Gen2 platform — making him the architect of the very product now driving Oracle's hypergrowth. Sicilia led Oracle's industry cloud vertical strategy. The co-CEO structure reflects the dual priorities of infrastructure scale (Magouyrk) and cloud application depth (Sicilia).
Safra Catz
Catz served as Oracle's CEO from 2014 through September 2025, overseeing the company's transformation into a cloud company and the $28 billion acquisition of Cerner in 2022. She transitioned to Executive Vice Chair of the Board while Ellison has described their 26-year operating partnership as continuing in the new structure. She was also appointed to the U.S. President's Council of Advisors on Science and Technology (PCAST) in 2026.
Hilary Maxson
Maxson became Chief Financial Officer in April 2026. She stepped into the role at a pivotal moment — Oracle is deploying $50 billion in annual capex and raising tens of billions in external financing to fund the OCI buildout, making the CFO position unusually consequential to investor confidence.
P/S Ratioi
EV/EBITi
P/E Ratioi
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in billions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash FlowFree cash flow year-over-year growth labels for 2026, 2027E, 2028E, and 2029E are hidden because the prior comparison year is missing, zero, or negative. Growth rates from missing or non-positive bases are not meaningful.
CAPEX
Values in billions of USD.
Margins
Rentability
Balance sheet
Values in billions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Last earnings
Fiscal fourth-quarter revenue rose 21% year over year to $19.2 billion, and full fiscal-year 2026 revenue climbed 17% to $67.4 billion.
Adjusted earnings per share of $2.11 beat analyst expectations, up 24% year over year; GAAP EPS rose 21% to $1.45.
Cloud infrastructure revenue jumped 93% to $5.8 billion, and the contract backlog more than quadrupled to $638 billion on large AI infrastructure signings.
Management guided fiscal 2027 revenue growth of 27-29% and plans roughly $40 billion in added financing to fund next year's capital spending.
Recent developments
Oracle signed a 10-year, up-to-$7 billion enterprise software agreement with the U.S. Department of Defense on July 23, 2026, covering on-premises licensing for the military, Coast Guard, and intelligence community.
On July 30, 2026, Oracle expanded its Google partnership to embed Gemini models into Oracle Fusion Applications and NetSuite.
Oracle and OpenAI opened a path for customers to apply Oracle Universal Credits toward OpenAI models and Codex on Oracle Cloud Infrastructure, broadening the AI providers built into the platform.
Debate & sentiment
Bulls cite the record contract backlog and accelerating infrastructure revenue as proof that enterprise AI workloads are shifting to Oracle faster than most rivals can match.
Skeptics note fiscal 2026 free cash flow turned negative by roughly $23.7 billion, as capital spending outpaced operating cash flow.
Rising leverage is a flashpoint: Oracle has layered substantial new debt and equity issuance onto its balance sheet, raising questions about flexibility if AI demand growth slowed.
Whether multiyear contracts convert into billed revenue on schedule, rather than sitting in backlog, is the metric both camps are watching into fiscal 2027.
Consensusi
Buy
Average targeti
$237.97+67%
Highest targeti
$400.00+181%
Lowest targeti
$110.00-23%
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