Oracle Corp. (NYSE:ORCL)

The analysis of the quarterly financial data reveals several notable trends in the composition of assets as a percentage of total assets over the observed periods.

Cash and Cash Equivalents

There is a general declining trend in cash and cash equivalents as a percentage of total assets. Starting above 29% in August 2019, this figure decreased to a low near 5-8% in the period following August 2022, showing a significant reduction in liquid cash reserves relative to total assets. Minor fluctuations are observed in later periods but the level remains lower compared to the initial quarters.

Marketable Securities

The proportion of marketable securities demonstrates high volatility. After peaking around 13% in late 2020 and early 2021, this percentage dramatically decreases to below 1% from mid-2022 onwards. This shift suggests a reallocation or sale of marketable securities over the recent periods.

Trade Receivables, Net

Trade receivables as a portion of total assets remain relatively stable with a slight upward trend. Values oscillate around 3.6% to 5.5%, with a tendency toward the higher end in the latest periods, indicating a moderate increase in credit extended to customers relative to the asset base.

Prepaid Expenses and Other Current Assets

This category fluctuates modestly between approximately 2.6% and 3.5%, without a clear trend up or down. The stability points to consistent management of prepaid expenses and other current assets over the periods.

Current Assets

Current assets show considerable variability. Starting near 40% in 2019, a peak close to 45% occurs during mid-2020, then a considerable decline manifests after mid-2021, bottoming out near 13-16% from mid-2022 onward. This reflects a strategic shift away from current assets relative to total assets over the longer term.

Property, Plant and Equipment (Net)

There is a marked and steady increase in the percentage of property, plant, and equipment throughout the periods. Beginning near 6% in 2019, it rises substantially to almost 30% by mid-2025. This suggests accelerated investment in fixed assets or capital expenditures.

Intangible Assets (Net)

Intangible assets present a declining trend from around 4.6% in 2019 to about 2.3% in later periods. A brief spike around 9-10% occurs near late 2021 to early 2022 but declines thereafter. Overall, this indicates possible amortization or impairment, or a change in recognition of intangible assets.

Goodwill

Goodwill remains the largest individual asset class as a percentage of total assets, fluctuating between 34% and 47%. It peaks near late 2021 and early 2022 but shows a gradual decline thereafter, signaling potential write-downs or fewer acquisitions resulting in goodwill.

Deferred Tax Assets

Deferred tax assets increase sharply from 2.5% in 2019 to about 12% in late 2021, followed by a gradual decline to around 6.5% in mid-2025. The initial rise could relate to tax timing differences or loss carryforwards, with subsequent adjustments reducing their relative asset share.

Other Non-current Assets

This category steadily increases from roughly 6% to over 13.5% across the time frame. The consistent increase suggests accumulation or recognition of other long-term assets on the balance sheet.

Non-current Assets

The composition weighted toward non-current assets first declines in mid-2020 but is followed by a substantial and sustained increase post-2021, reaching over 86% by mid-2025. This overall growth underscores a strategic emphasis on long-term asset investment relative to total assets.

In summary, the company's asset structure shifted significantly over the analyzed periods, with a clear move away from liquid and current assets toward long-term and fixed assets. Goodwill remains material but shows signs of reduction. The notable increase in property, plant and equipment along with other non-current assets reflects a focus on capital investment and longer-term asset bases. Fluctuations in marketable securities and intangible assets point toward active asset management and possible impairments or reclassifications during the timeline.