Oracle Corp. (NYSE:ORCL)

The financial data reveals notable shifts in the asset composition over the reported periods. There is a clear trend of decreasing liquidity as measured by cash and cash equivalents, which declined substantially from over 29% of total assets in August 2019 to approximately 6–7% in the latest periods of 2024–2025. This decrease in cash holdings suggests a reduced emphasis on immediate liquidity or potential deployment of cash into other asset categories.

Marketable securities exhibit significant volatility, with an initial rise reaching a peak above 13% in the middle of 2020, followed by a sharp and sustained reduction to below 1% in subsequent periods. This pattern indicates a strategic reduction in short-term investments held as marketable securities after mid-2020.

Trade receivables maintain relative stability, fluctuating within a narrow range around 3.5% to 5.5%, showing consistent levels of amounts due from customers without sharp changes. Prepaid expenses and other current assets also remain fairly stable, generally hovering between 2.5% and 3.5%, indicating steady operational advance payments or other similar current assets.

The total current assets category declines notably from nearly 40% in the early periods to a low of approximately 14–16% post-2022, reflecting the decreases noted in cash and marketable securities. This decline in current assets corresponds with an increase in non-current assets, which rose from about 60% to over 80% in total assets during the same timeline, signifying a shift towards more long-term investments or capital holdings.

Within non-current assets, property, plant, and equipment show consistent growth, more than quadrupling as a percentage of total assets from just under 6% in 2019 to nearly 26% by 2025. This increase suggests significant investment in physical or fixed assets.

Conversely, intangible assets decrease substantially from about 4.5% to below 3%, indicating a potential amortization, impairment, or divestiture of intangible resources over time. Goodwill remains the dominant asset, showing an initial decline in the early stages of the dataset but generally stabilizing around 36–47% of total assets throughout the periods, with a slightly downward trend in recent terms, suggesting fluctuating acquisition-related values or impairment charges.

Deferred tax assets increase notably around 2021 to a peak near 12%, before declining gradually to approximately 7% by 2025, possibly reflecting changes in tax strategies, valuations, or recognition timing. Other non-current assets show a consistent upward trajectory, increasing from about 6% to nearly 13% of total assets, indicating growth in miscellaneous long-term assets.

Overall, the data points to a strategic reallocation from current to non-current assets, with heightened investment in tangible fixed assets and a moderately reduced focus on intangible assets and liquidity positions. The maintenance of goodwill levels alongside increasing property investments may imply ongoing acquisition activity balanced with capital expenditure in core fixed assets. The trends hint at a focus on strengthening operational capacity and long-term asset base while managing liquidity more conservatively over time.

Cash and cash equivalents

Declined from ~29% to ~6-7% of total assets;

Marketable securities

Initial rise to ~13%, then dropped below 1%;

Trade receivables

Stable between 3.5% and 5.5% of total assets;

Prepaid expenses and other current assets

Stable around 2.5%-3.5%;

Current assets

Declined from ~40% to ~14-16% of total assets;

Property, plant, and equipment

Increased from ~6% to ~26%;

Intangible assets

Decreased from ~4.5% to ~3%;

Goodwill

Remained a major component fluctuating between 36%-47%;

Deferred tax assets

Peaked near 12%, then declined to ~7%;

Other non-current assets

Gradual increase from ~6% to ~13%;

Non-current assets total

Increased from ~60% to over 80% of total assets;

Total assets

Consistently 100% (base).