Oracle Corporation $ORCL

Company profile

Oracle Corporation describes itself in its Form 10-K for fiscal 2026 as a provider of products and services that build, run and support enterprise information technology frameworks, including enterprise applications and infrastructure offerings that incorporate AI technologies, delivered through cloud-based, on-premise and hybrid deployments. Its cloud offerings are Oracle Cloud Applications (OCA), such as Oracle Fusion Cloud ERP, HCM and CX, NetSuite and Oracle Health applications, and Oracle Cloud Infrastructure (OCI), which provides compute (including GPU-based offerings for AI model training and inference), storage, networking and Oracle Autonomous AI Database, among others. It also licenses software such as Oracle Applications, Oracle AI Database, Oracle Middleware and Java, sells hardware such as Oracle Engineered Systems, and offers consulting and customer success services. It has three businesses, each a single operating segment: cloud and software (formerly referred to as cloud and license), hardware and services. Its fiscal year ends May 31.

In fiscal 2026 (the year ended May 31, 2026) total revenues were $67,357 million and net income $17,087 million, according to the 10-K. Cloud revenues were $33,989 million and represented 51% of total revenues, compared with 43% in fiscal 2025 and 37% in fiscal 2024, and cloud infrastructure made up 53% of cloud revenues. Remaining performance obligations were $638 billion at May 31, 2026, compared with $138 billion a year earlier, and Oracle expected to recognize approximately 12% of them as revenues over the next twelve months. Capital expenditures were $55,663 million, up from $21,215 million in fiscal 2025. During fiscal 2026 Oracle issued $43.0 billion of senior notes and, in February 2026, 6.50% Series D Mandatory Convertible Preferred Stock for net proceeds of $5.0 billion. In November 2025 SoftBank Group Corp. acquired Ampere Computing Holdings LLC, and Oracle received $4.3 billion in cash for its interests and recorded a $2.7 billion gain. Oracle acquired Cerner Corporation, a provider of digital information systems used in hospitals and health systems, on June 8, 2022, for a total purchase price of $28.2 billion, according to its 10-K for fiscal 2023.

According to its 10-Q for the quarter ended August 31, 2026 (unaudited), total revenues were $19,345 million in the first quarter of fiscal 2027, of which cloud revenues were $11,607 million, or 60%, and net income was $4,760 million. Remaining performance obligations were $664 billion at August 31, 2026, of which Oracle expected to recognize approximately 13% as revenues over the next twelve months. Capital expenditures were $28,499 million in the quarter, and Oracle said it expects fiscal 2027 capital expenditures to be higher than in fiscal 2026. It had $288 billion of additional lease commitments, substantially all for data centers, generally expected to commence between the second quarter of fiscal 2027 and fiscal 2029 with terms of fifteen to nineteen years, that were not on its balance sheet. In the quarter it received $11.4 billion of customer prepayments that included a significant financing component, and fully used its at-the-market equity program, issuing 141 million shares of common stock for net proceeds of $19.9 billion. The 10-Q also says the substantial majority of its non-marketable investments were with TikTok USDS Joint Venture LLC, an equity method investee in which Oracle has a 15% ownership interest.

In its June 10, 2026 results release, furnished with a Form 8-K, Oracle said the prepaid and customer-supplied hardware portions of its large AI contracts totaled $75 billion, and that it expected to raise approximately $40 billion in fiscal 2027 through debt and equity financing, including the $20 billion at-the-market program, and did not expect to issue additional debt in calendar 2026; these are company statements and projections. In its September 10, 2026 release it said it booked more than $30 billion of additional AI cloud contracts in the first quarter and now expects fiscal 2027 total revenue of at least $90 billion and non-GAAP earnings per share of $8.10; these are company projections, not reported results.

Oracle is a Delaware corporation with principal executive offices at 2300 Oracle Way, Austin, Texas, and its common stock trades on the New York Stock Exchange under the symbol ORCL. It employed approximately 141,000 full-time employees at May 31, 2026, about 49,000 of them in the U.S. Lawrence J. Ellison, who founded Oracle in June 1977, is Executive Chair of the Board and Chief Technology Officer. Clayton M. Magouyrk and Michael D. Sicilia each became Chief Executive Officer on September 22, 2025, when Safra Catz, Chief Executive Officer since September 2014, became Executive Vice Chair of the Board, according to a Form 8-K and the 10-K. Hilary Maxson, previously Executive Vice President and Group Chief Financial Officer of Schneider Electric SE, became Chief Financial Officer on April 6, 2026, according to a Form 8-K. The 10-Q says Mr. Ellison adopted a Rule 10b5-1 trading plan on June 22, 2026 to permit the sale of up to 50 million Oracle shares; a Form 8-K dated September 12, 2026 says he cancelled that plan and no Oracle stock was sold under it.

Summary sources:^12345678

Revenue by fiscal year, as reported in 10-K

Products

Oracle Cloud Applications (OCA)

Oracle Applications Software Licenses

Oracle Infrastructure Technologies

Oracle Cloud Infrastructure (OCI)

Oracle Infrastructure Software Licenses

Oracle Engineered Systems

Oracle Software and Hardware Support

Oracle Services

Segments and products

• Cloud and software (operating segment; formerly referred to as cloud and license): Cloud revenues from Oracle Cloud Applications and Oracle Cloud Infrastructure subscriptions, and software revenues from software licenses and software support. Revenues were $58,530 million in fiscal 2026, $49,230 million in 2025 and $44,464 million in 2024, 87% of total revenues in fiscal 2026, and segment margin was $34,468 million, $30,930 million and $28,514 million, as reported in the 10-K for fiscal 2026. In fiscal 2026 cloud revenues were $33,989 million (cloud applications $15,888 million, cloud infrastructure $18,101 million) and software revenues $24,541 million (software license $4,737 million, software support $19,804 million). Segment margins reflect only direct controllable costs and exclude research and development, general and administrative expenses, amortization of intangible assets, restructuring, stock-based compensation and certain other items.¹
• Hardware (operating segment): Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, management and other hardware-related software, and hardware support. Revenues were $3,084 million in fiscal 2026, $2,936 million in 2025 and $3,066 million in 2024, and segment margin was $2,017 million, $1,918 million and $1,915 million, as reported in the 10-K for fiscal 2026. In Item 1 (Sales and Marketing), the 10-K says Oracle directly markets and sells its cloud, software, hardware, support and services offerings, and also markets and sells its offerings through indirect channels.¹
• Services (operating segment): Consulting services and customer success services that help customers and partners use Oracle applications and infrastructure technologies. Revenues were $5,743 million in fiscal 2026, $5,233 million in 2025 and $5,431 million in 2024, and segment margin was $1,533 million, $993 million and $916 million, as reported in the 10-K for fiscal 2026.¹
• Revenue lines as filed for fiscal 2025 (before the fiscal 2026 presentation): The 10-K for fiscal 2025 reported revenues in four lines: cloud services and license support of $44,029 million (cloud services $24,506 million and license support $19,523 million), cloud license and on-premise license of $5,201 million, hardware of $2,936 million and services of $5,233 million, for total revenues of $57,399 million. It reported the businesses as cloud and license, hardware and services. The 10-K for fiscal 2026 presents revenues as cloud, software, hardware and services instead.¹¹
• Revenue by region and country, fiscal 2026 (not a segment): Based generally on the location of customers, revenues were $44,478 million in the Americas, $15,297 million in Europe, the Middle East and Africa, and $7,582 million in Asia Pacific. By country, revenues were $39,835 million in the U.S., $2,816 million in the United Kingdom, $1,993 million in Germany, $1,870 million in Japan and $20,843 million in other countries, as reported in the 10-K for fiscal 2026.¹
• Segments in the first quarter of fiscal 2027 (unaudited): For the three months ended August 31, 2026, cloud and software revenues were $17,157 million with a segment margin of $9,358 million, hardware revenues $774 million with a margin of $452 million, and services revenues $1,414 million with a margin of $445 million. Cloud revenues were $11,607 million (cloud applications $4,219 million, cloud infrastructure $7,388 million) and software revenues $5,550 million (software license $655 million, software support $4,895 million). The 10-Q says cloud infrastructure and cloud applications contributed 91% and 9%, respectively, of constant currency cloud revenue growth in the quarter.³

Risks

• Data center capacity and long-term commitments: To grow OCI, Oracle says it must incur significant capital and operating expenditures and has entered into long-term leases with third-party data center providers and other significant commitments with suppliers of chips and other data center infrastructure. If it underestimates demand it may lack capacity; if it overestimates demand, or key customers are unable to pay or otherwise perform under their contracts, it could be locked into multi-year commitments for excess data center space, related capital expenditures and financings without corresponding revenue. Its long-term data center leases typically do not align with the duration and pricing of customer contracts (10-K).¹
• Customer concentration and credit risk: Oracle says its profitability and revenues could be adversely impacted if it loses one or more key customers, or if a key customer experiences insolvency, bankruptcy or other issues affecting its creditworthiness. It says some customers may be highly leveraged, that prepayments, credit analysis and monitoring cannot fully eliminate customer credit risk, and that in certain OCI offerings it is more concentrated among a number of large customers, which could increase these risks (10-K).¹
• Power, sites and components for AI data centers: Oracle says its data center expansion depends on suitable, permitted build sites, reliable power, networking hardware and server availability, including GPUs and memory devices, and that it has faced, and may continue to face, challenges securing reliable and cost-effective power sources, which it says are constrained globally because of the significant increase in demand for, and limited availability of, energy to power AI compute. It also depends on third parties to develop and deliver certain data center capacity, and these investments may require significant cash outlays before, or in excess of, the revenues they generate, which could increase its need for external financing (10-K).¹
• Debt and financing: As of May 31, 2026, Oracle had an aggregate of $129.5 billion of outstanding indebtedness maturing between calendar 2026 and 2066, and says it may incur more to finance capital expenditures, investments, acquisitions, dividends or repurchases. Additional debt would increase fixed obligations and interest expense, some debt may bear variable rates, and it may not be able to refinance maturing debt on favorable terms; disruptions in credit markets could increase borrowing costs or limit its access to debt financing (10-K).¹
• Shift from software licenses to the cloud: Oracle says that if it does not successfully execute its Oracle Cloud strategy its revenues and profitability may decline, and that competing cloud models may pressure pricing. Because cloud revenues are recognized ratably or as services are consumed, a deterioration in cloud sales may not be immediately visible in its results, and it may not be able to backfill reduced demand for its software, hardware and support offerings as customers move to the cloud (10-K).¹
• Competition: Oracle says it faces intense competition in all aspects of its business, from some of the largest and most competitive companies in the world and that low barriers to entry let new and growing competitors frequently emerge. It believes many vendors spend more than it does to develop and market competing applications and infrastructure technologies, and says that if competitors offer deep discounts it may need to lower prices (10-K).¹
• Supply chain and single-source components: Oracle depends on suppliers to deliver technologies and components for its hardware products and cloud infrastructure, some of which can only be purchased from a single vendor, and outsources most of the manufacturing, assembly and delivery of its hardware products to a variety of companies, many of which are located outside the U.S. It says supply chains are affected by component shortages, political unrest including tensions between China and Taiwan, tariffs and transportation disruptions (10-K).¹
• Litigation: A putative securities class action filed on February 3, 2026 in the U.S. District Court for the District of Delaware, amended on July 14, 2026, alleges that Oracle, its Chief Technology Officer, one of its Chief Executive Officers, two other executives and one director made false and misleading statements about its cloud infrastructure business, and seeks damages. In a Dutch privacy class action over Oracle's Data Management Platform product, the Dutch Supreme Court on July 17, 2026 remanded the case to the Court of Appeal. Oracle says it has meritorious defenses and does not believe either matter will have a material impact on its financial position or results (10-Q).³
• Healthcare regulation: Through its healthcare business, Oracle is subject to wide-ranging and evolving regulation covering healthcare fraud, information sharing, medical devices, the use of AI in healthcare, patient data privacy and interoperability, and certified health record requirements for federal healthcare programs. It says it has been, and may become, involved in governmental inquiries, audits and reviews, and that non-compliance could adversely affect its healthcare business (10-K).¹
• Cybersecurity: Oracle says it is a target for hackers because its products and services store and process large amounts of data, including sensitive data, and that when a cyberattack or other security incident results in unauthorized access to data or disrupts its services, it has incurred and may continue to incur significant expenses and may suffer substantial damage to its brand and reputation. It experienced cybersecurity incidents during fiscal 2026 that, to date, have not had a material impact on its business, results or financial condition (10-K).¹

Frequently asked questions

What does Oracle do?

Oracle sells cloud services, software licenses and support, hardware and services for enterprise IT, according to its Form 10-K for fiscal 2026. Its cloud offerings are Oracle Cloud Applications, including Fusion Cloud ERP, HCM and CX, NetSuite and Oracle Health, and Oracle Cloud Infrastructure, which includes GPU-based compute for AI training and inference; its software includes Oracle AI Database, Oracle Middleware and Java.

What was Oracle's revenue in fiscal 2026?

Oracle reported total revenues of $67,357 million for fiscal 2026, the year ended May 31, 2026, in its Form 10-K filed on June 22, 2026, compared with $57,399 million for fiscal 2025. Net income was $17,087 million and diluted earnings per share $5.83.

When does Oracle's fiscal year end?

On May 31. Fiscal 2026 ended May 31, 2026, and fiscal 2027 ends May 31, 2027, according to Oracle's 10-K for fiscal 2026 and its 10-Q for the quarter ended August 31, 2026.

What are Oracle's business segments?

Three: cloud and software (called cloud and license before fiscal 2026), hardware and services, each a single operating segment. In fiscal 2026 their revenues were $58,530 million, $3,084 million and $5,743 million, according to the 10-K. The fiscal 2026 10-K reports revenues as cloud, software, hardware and services; earlier 10-Ks used the lines cloud services and license support, cloud license and on-premise license, hardware and services.

How much of Oracle's revenue comes from the cloud?

Cloud revenues were $33,989 million in fiscal 2026, 51% of total revenues, with cloud infrastructure at $18,101 million and cloud applications at $15,888 million, according to the 10-K. In the quarter ended August 31, 2026, cloud revenues were $11,607 million, 60% of total revenues, including $7,388 million from cloud infrastructure (10-Q, unaudited).

What are Oracle's remaining performance obligations?

Remaining performance obligations, contracted revenue not yet recognized, were $664 billion at August 31, 2026 (10-Q, unaudited), up from $638 billion at May 31, 2026 (10-K) and $455 billion at August 31, 2025. Oracle expected to recognize approximately 13% of the August 31 amount as revenues over the next twelve months and 37% over months 13 to 36.

How much is Oracle spending on data centers?

Capital expenditures were $55,663 million in fiscal 2026, compared with $21,215 million in fiscal 2025, and $28,499 million in the quarter ended August 31, 2026 (10-Q, unaudited). Oracle said it expects fiscal 2027 capital expenditures to be higher than in fiscal 2026, and at August 31, 2026 it had $288 billion of additional lease commitments, substantially all for data centers, that had not yet commenced.

How is Oracle financing its expansion?

In fiscal 2026 Oracle issued $43.0 billion of senior notes and received $5.0 billion of net proceeds from mandatory convertible preferred stock, according to its 10-K. In the quarter ended August 31, 2026 it issued 141 million shares through its at-the-market program for net proceeds of $19.9 billion and received $11.4 billion of customer prepayments with a significant financing component (10-Q, unaudited).

What does Oracle expect for fiscal 2027?

In its September 10, 2026 results release, furnished with a Form 8-K, Oracle said it now expects fiscal 2027 total revenue of at least $90 billion and non-GAAP earnings per share of $8.10, and guided to second-quarter total revenue growth of 30% to 34%. These are company projections, not reported results.

Who runs Oracle?

Lawrence J. Ellison, who founded Oracle in 1977, is Executive Chair of the Board and Chief Technology Officer. Clayton M. Magouyrk and Michael D. Sicilia have each been Chief Executive Officer since September 2025, Safra A. Catz and Jeffrey O. Henley are Executive Vice Chairs of the Board, and Hilary Maxson has been Chief Financial Officer since April 2026, according to the 10-K for fiscal 2026.

Does Oracle pay a dividend?

Yes. Oracle paid common stock dividends of $2.00 per share, totaling $5.7 billion, in fiscal 2026, according to its 10-K, and in September 2026 declared a quarterly dividend of $0.50 per share payable on October 23, 2026. About $6.3 billion remained available under its stock repurchase program at August 31, 2026, and it made no repurchases in that quarter (10-Q).

When did Oracle buy Cerner?

Oracle acquired Cerner Corporation on June 8, 2022, for a total purchase price of $28.2 billion, according to its 10-K for fiscal 2023, which says Cerner contributed $5.9 billion to Oracle's total revenues in fiscal 2023.

Did Larry Ellison sell Oracle stock under his 2026 trading plan?

Oracle's 10-Q for the quarter ended August 31, 2026 says Mr. Ellison adopted a Rule 10b5-1 trading plan on June 22, 2026 to permit the sale of up to 50 million shares. A Form 8-K dated September 12, 2026 says he cancelled the plan and that no Oracle stock was sold under it.

Sources

1. Oracle Corporation (SEC filing), Oracle Corporation Form 10-K for the fiscal year ended May 31, 2026, Jun 22, 2026
2. Oracle Corporation (SEC filing), Oracle Corporation Form 10-K for the fiscal year ended May 31, 2023, Jun 20, 2023
3. Oracle Corporation (SEC filing), Oracle Corporation Form 10-Q for the quarterly period ended August 31, 2026 (unaudited), Sep 11, 2026
4. Oracle Corporation (SEC filing), Oracle Corporation Form 8-K, Exhibit 99.1: press release dated June 10, 2026, with fourth-quarter and fiscal 2026 results and first-quarter fiscal 2027 guidance, Jun 10, 2026
5. Oracle Corporation (SEC filing), Oracle Corporation Form 8-K, Exhibit 99.1: press release dated September 10, 2026, with first-quarter fiscal 2027 results, second-quarter guidance and fiscal 2027 expectations, Sep 10, 2026
6. Oracle Corporation (SEC filing), Oracle Corporation Form 8-K, Item 5.02: Clayton Magouyrk and Michael Sicilia promoted to Chief Executive Officer and to the Board, Safra Catz to Executive Vice Chair, effective September 22, 2025, Sep 22, 2025
7. Oracle Corporation (SEC filing), Oracle Corporation Form 8-K, Item 5.02: Hilary Maxson appointed Chief Financial Officer as of April 6, 2026 (event date April 1, 2026), Apr 6, 2026
8. Oracle Corporation (SEC filing), Oracle Corporation Form 8-K: Larry Ellison cancels his 10b5-1 plan to sell Oracle stock (event date September 12, 2026), Sep 14, 2026
9. Oracle Corporation (SEC filing), Oracle Corporation Form 10-K for the fiscal year ended May 31, 2022, Jun 21, 2022
10. Oracle Corporation (SEC filing), Oracle Corporation Form 10-K for the fiscal year ended May 31, 2024, Jun 20, 2024
11. Oracle Corporation (SEC filing), Oracle Corporation Form 10-K for the fiscal year ended May 31, 2025, Jun 18, 2025

Figures last checked against the sources above on Oct 12, 2026. General information, not investment advice.