Oracle Corporation

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

In the fiscal year to May 2026, Cloud and Software Business was 87% and Services Business was 9% of revenue; Cloud and Software Business rose from 84% in the fiscal year to May 2024.

In the fiscal year to May 2026, Americas was 66% and EMEA was 23% of revenue; Americas rose from 63% in the fiscal year to May 2024.

Quarters: Oracle Corporation's SEC filings, named by the month they end. Fiscal years: Oracle Corporation's annual reports to the SEC.

How it makes money

Of every $100 in revenue, $25.4 ends up as net income. Net margin rose from 17.0% to 25.4% over the past 3 years.

Each margin is that line of the income statement divided by revenue. Fiscal year: Oracle Corporation's annual reports to the SEC.

Growth and margins together

Rule of 40 score −10.4 (growth 29.6% + FCF margin −40.0%): weak, far short of the 40 line. Stock pay is 6.7% of revenue; counted as a cost, it brings the FCF margin down to −46.7%.

Oracle trades at 7.3× revenue on 29.6% growth. PLTR grows fastest of its peers, 95.9%, and costs 55.3×.

Growth: revenue in the quarter ended Aug 2026 against the quarter ended Aug 2025. FCF margin: operating cash flow minus capex, over revenue, for the 4 quarters ended Aug 2026. From SEC filings.

Customers and suppliers

Oracle’s earnings release for the second quarter of fiscal 2026 names NVIDIA as a supplier. AMD’s earnings release for the second quarter of 2026 names Oracle as a customer.

Their suppliers

B

Blue Ridge Commerce Center Westto Applied Optoelectronics

C

Colemanto Applied Optoelectronics

H

Hightower Phase I Ownerto Applied Optoelectronics

ASE Technology ASXto AMD

TSMC TSMto AMD, NVIDIA

UMC UMCto AMD

Coherent COHRto NVIDIA

IREN IRENto NVIDIA

Micron Technology MUto NVIDIA

Show 9

Suppliers

Applied Optoelectronics AAOI

AMD AMD

NVIDIA NVDA

 

ORCLOracle

Customers

Innodata INOD

Vertiv Holdings VRT

Zoom Communications ZM

Platforms

Palo Alto Networks PANWsells through Oracle · Sells virtual firewalls through cloud marketplace

Named in other companies’ filings

Bloom Energy BEOracle invested in it · On-site solid state power for AI data centers · 8-K, Apr 13, 2026Warrant to purchase up to 3,531,073 shares at $113.28 per share; issued April 9, 2026Cognizant Technology Solutions CTSHcalls it a partner · Enterprise platform servicesCredo Technology Group Holding CRDOco-develops with it · Develop ZeroFlap Optics for reliable AI connectivityEverpure Pcalls it a partner · Application technology ecosystemIBM IBMcalls it a partner · Strategic partnership delivering client solutions

Only the companies Oracle names in its 10-K filed Jun 22, 2026 (SEC). Named in other companies' filings: those whose own latest annual report or an 8-K since names Oracle. The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Platforms: an app store, a console maker or a marketplace one company sells through and pays a share or a fee; not supply, so not on the chain. Also from other documents: Oracle’s earnings release for the second quarter of fiscal 2026, published Dec 10, 2025 (source); AMD’s earnings release for the second quarter of 2026, published Aug 4, 2026 (source). Hover a name for the filing's own words.

Is it expensive?

EV/revenue of 7.3x, below the peer median of 41.6x.

EV/revenue below the peer median of 41.6x: cheaper than its peers.

Compared on enterprise value (market cap plus debt minus cash) per $1 of revenue: for companies that reinvest what they earn or borrow to grow (software, AI data centers), P/E can mislead.

What analysts expect

The average analyst price target is $236, 85% above the current price; 83% of 42 analysts rate it a buy; earnings beat estimates in all of the last 4 quarters.

Buy or Strong Buy: 35 analysts (83%). Sell or Strong Sell: 1.

Over the past year the average of the analysts' latest price targets went from $339.40 to $249.44 (−27%), while ORCL went from $217.57 to $127.11 (−42%). In the past three months targets were raised 4 times and cut 9 times. 4 upgrades and no downgrades over the year; the latest: Stephens & Co. moved it to Overweight from Equal-Weight on Nov 2, 2026.

The day after each of these reports the stock moved −10.2% (Nov 2025, beat); +7.6% (Feb 2026, beat); −10.5% (May 2026, beat); −7.0% (Aug 2026, beat).

For the quarter ending Nov 2026 (Oracle reports on Dec 14, 2026), analysts expect adjusted earnings of $1.89 a share, 16% less than the $2.26 of a year earlier, and revenue of $21.3B, up 33% on a year earlier. For the fiscal year ending May 2027, they expect adjusted earnings of $8.15 a share, and revenue of $90.4B, up 34% on the year before.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Capex of $75.6B exceeds operating cash flow of $46.9B, leaving free cash flow of −$28.7B. It still paid $5.9B to shareholders (dividends plus buybacks), so $34.6B had to come from cash on hand or borrowing.

Oracle had 3.00B diluted shares in the quarter ended Aug 2026, 3.1% more than a year earlier, and 1.3% fewer each year on average since Feb 2020. Over the last four quarters its earnings per share rose 47.7% and its net income rose 52.1%: more shares took about 4 points off.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 1.1, short-term debt is manageable; shareholder equity is only 16% of assets, so debt-to-equity (3.0) says little; net debt is 2.1 years of operating cash flow, which is manageable.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 3 members of Congress and 9 funds whose copy leaves ORCL out (on the exchange, not in the app yet): Polen Capital Management, RK Capital Management, Tom Kean Jr., Bridgewater Associates, Fisher Asset Management, Rob Bresnahan and 6 more.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 16 held ORCL at the end of their latest quarter (for most, Q2 2026). Over that quarter 6 added shares, 6 cut, 2 bought new, 2 sold all and 2 held the same. The largest of them is Norges Bank, 25.00M shares worth $3.7B at Jun 30, 2026, 12.4% more than at Dec 31, 2025.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of ORCL at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors bought $3.5M and sold $85.3M of ORCL on the open market in the 12 months to Nov 12, 2026. 91% of the sales were made under 10b5-1 plans, set up in advance. The largest was Jeffrey Henley (Vice Chairman; director), who sold $63.7M in 11 sales.

From the Form 4s filed with the SEC about Oracle Corporation (50 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 60 other transactions (option exercises, shares withheld for tax, gifts and other transfers).

Insights that mention ORCL