$142.30+4.23 (+3.06%)
At close: Oct 2, 2026, 4:00 PM ET
$142.10−0.20 (−0.14%)
After hours: Oct 2, 2026, 4:55 PM ET· last 1-minute bar
Oracle Corp. · Financials
Is this a real, growing, cash-generative business, or a story propped up by accounting?
Business engineSteady: revenue compounds ~12.2%/yr (FY22→FY26), net margin 25.4%; free cash flow runs at −139% of net income. Check the accrual gap. Worth your attention in FY26: Capex step-up ($55.7B) and Returns vs FCF (n/m). Both visible in the receipts below.
The four lines that matter · FY22–FY26
Revenue ($B)▲17.3%
67.4
FY22→FY26CAGR +12.2%/yr
Net income ($B)▲37.3%
17.1
FY22→FY26CAGR +26.3%/yr
Free cash flow ($B)▼5911.7%
−23.7
capex stepped upCAGR —
Diluted EPS▲34.3%
5.83
FY22→FY26CAGR +24.7%/yr
What the receipts whisper · what a headline number hides
Share count
+4.6%
2.8bn → 2.9bn diluted shares since FY22. Broadly flat, so EPS moves with net income rather than with the share count.
Capex step-up
$55.7B
▲162% YoY in FY26, largest jump in this window; watch free-cash-flow conversion.
Returns vs FCF
n/m
$5.9B returned vs $−23.7B of FCF in FY26. Free cash flow was negative, so returns were funded from the balance sheet rather than from cash generation.
What the income statement says · FY22–FY26
Where every revenue dollar goes · FY26 ($B)
25¢ of every revenue dollar becomes profit. The biggest cost lever is operating expenses.
Margin trend · direction beats level Gross Operating Net
Over this window: gross 79.1% → 65.8%. Net margin 25.4% is more than double the sector median.
The receipt · income statement · FY22–FY26 USD millions except per-share & ratios · hover a line for its definition
| Line item | TTM † | FY26 | FY25 | FY24 | FY23 | FY22 | YoY | CAGR 22→26 |
|---|---|---|---|---|---|---|---|---|
| Revenue & profitability | ||||||||
Revenue | 71,776.0 | 67,357.0 | 57,399.0 | 52,961.0 | 49,954.0 | 42,440.0 | ▲17.3% | +12.2% |
Cost of revenue | 25,870.0 | 23,021.0 | 16,927.0 | 15,143.0 | 13,564.0 | 8,877.0 | ▲36.0% | +26.9% |
Gross profit | 45,906.0 | 44,336.0 | 40,472.0 | 37,818.0 | 36,390.0 | 33,563.0 | ▲9.5% | +7.2% |
Research & development | 10,182.0 | 10,272.0 | 9,860.0 | 8,915.0 | 8,623.0 | 7,219.0 | ▲4.2% | +9.2% |
Selling, general & admin | 1,618.0 | 1,618.0 | 1,602.0 | 1,548.0 | 1,579.0 | 1,317.0 | ▲1.0% | +5.3% |
Total operating expenses | 22,849.0 | 23,730.0 | 22,794.0 | 22,465.0 | 23,297.0 | 22,637.0 | ▲4.1% | +1.2% |
Operating incomefeeds ROC rank | 23,057.0 | 20,606.0 | 17,678.0 | 15,353.0 | 13,093.0 | 10,926.0 | ▲16.6% | +17.2% |
Other income, net | −1,323.0 | −1,052.0 | −3,518.0 | −3,612.0 | −3,967.0 | −3,277.0 | — | — |
Pretax income | 21,734.0 | 19,554.0 | 14,160.0 | 11,741.0 | 9,126.0 | 7,649.0 | ▲38.1% | +26.4% |
Income tax | 2,814.0 | 2,467.0 | 1,717.0 | 1,274.0 | 623.0 | 932.0 | ▲43.7% | +27.6% |
Net incomePiotroski ROA ✓feeds Buffett Quality owner earnings | 18,920.0 | 17,087.0 | 12,443.0 | 10,467.0 | 8,503.0 | 6,717.0 | ▲37.3% | +26.3% |
| Per share | ||||||||
Diluted EPSbuyback-sensitive | 6.38 | 5.83 | 4.34 | 3.71 | 3.07 | 2.41 | ▲34.3% | +24.7% |
Diluted shares (bn) | 3.00 | 2.91 | 2.87 | 2.82 | 2.77 | 2.79 | ▲1.7% | +1.1% |
| Margins | ||||||||
Gross margin63rd pct in Technology | 64.0% | 65.8% | 70.5% | 71.4% | 72.8% | 79.1% | ▼4.7pp | −13.3pp |
Operating margin | 32.1% | 30.6% | 30.8% | 29.0% | 26.2% | 25.7% | ▼0.2pp | +4.8pp |
Net margin87th pct in Technology | 26.4% | 25.4% | 21.7% | 19.8% | 17.0% | 15.8% | ▲3.7pp | +9.5pp |
† TTM = trailing four quarters through 2026-08-31.
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These lines feed the tenet checklists: see which gates passTenets →Margins & returns continue as sector-ranked ratiosStatistics →
Annual report filed 2026-06-22 · view filings on SEC EDGAR ↗ · reported currency USD · as-filed figures may be later restated.
Statements normalized in our fundamentals DB · Not investment advice.
Statements normalized in our fundamentals DB · Not investment advice.
Annual and quarterly statements as filed, normalized into one comparable shape · Not investment advice.