Oracle Corporation (ORCL)
NYSE · Technology · analysed October 12, 2026
Founded in 1977, Oracle Corporation is a global technology company specializing in enterprise database management systems, cloud computing infrastructure, and business software solutions. The company offers a wide range of cloud-based products, including enterprise resource planning, supply chain management, and human capital software. Currently, Oracle is heavily focused on expanding Oracle Cloud Infrastructure, embedding generative artificial intelligence across its enterprise applications, and pursuing a multi-cloud strategy that deploys its database services within major hyperscale cloud platforms.
Executive summary
Oracle is navigating a massive structural shift as its cloud infrastructure business surges 121% year over year, underpinned by a $664 billion contracted backlog. However, this expansion requires an unprecedented capital expenditure program that drove fiscal 2026 free cash flow to negative $23.69 billion and elevated debt and lease liabilities to $156.19 billion. The stock has retreated over 47% in the past year as markets weigh near-term balance sheet dilution and site-level power bottlenecks against the valuation cushion of 15.3 times forward earnings.
Key figures
- Market cap
- $427.6B
- P/E, trailing
- 22.2
- P/E, next 12 months
- 15.3
- Revenue growth, last fiscal year
- 17.3%
- Net margin, last fiscal year
- 25.4%
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