Common-Size Income Statement
Quarterly Data
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
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Oracle Corp., common-size consolidated income statement (quarterly data)
Based on: 10-K (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-K (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31).
- Revenue Composition and Trends
- The composition of revenues shows that cloud services and license support consistently represent the largest portion, fluctuating between approximately 64% and 79% of total revenues across the quarters. This segment displays a generally cyclical pattern with occasional dips below 65%, followed by recoveries to values near or above 75%. The cloud license and on-premise license segment shows a more volatile pattern, peaking around 21% in some quarters but generally ranging between approximately 6.5% and 19%. Hardware revenues steadily decline as a percentage of total revenues, moving from near 9% in 2019 to around 5% by 2025. Services revenues exhibit some fluctuations but tend to increase notably after mid-2021, peaking around 11.89% before stabilizing in the 8% to 10% range toward the end of the period.
- Cost of Revenues and Gross Profit
- Cost of revenues as a percentage of total revenues has shown an overall increasing trend, particularly from mid-2021 onward, rising from about 20% to just under 30% by 2025. Correspondingly, gross profit margins have narrowed from near 81% down to roughly 70% in the later quarters, reflecting a decrease in profitability on a revenue basis. This contraction in margins suggests growing cost pressures or changes in revenue mix.
- Operating Expenses Patterns
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Operating expenses, categorized into sales and marketing, research and development, general and administrative, amortization, acquisition-related charges, and restructuring, each exhibit diverse trends:
- Sales and Marketing
- There is a gradual reduction in sales and marketing expenses relative to revenues, declining from approximately 22% down to around 14% to 16% by 2025, indicating enhanced efficiency or changes in strategy related to customer acquisition and retention.
- Research and Development
- Research and development expenses remain relatively stable as a percentage of revenue but show slight fluctuations, mostly within the range of 14% to 18%. There is a marginal downward trend in the most recent quarters, possibly reflecting shifts in investment focus.
- General and Administrative
- General and administrative expenses stay fairly consistent, fluctuating between 2.5% and 3.6% of revenues, with modest decreases noted in the latter part of the period.
- Amortization of Intangible Assets
- This expense category shows a marked peak in mid-2022 around 8%, then steadily declines to approximately 3%-4% by 2025, suggesting amortization charges are being amortized out or acquisitions impacting these charges have slowed.
- Acquisition Related and Other
- Generally minimal with occasional outliers, such as a significant negative impact around November 2021, but mostly remaining under 1% of revenues either as cost or income.
- Restructuring
- Restructuring expenses have minor fluctuations but remain below 2% of revenues, with no clear trend toward increase or decrease.
- Profitability Measures
- Operating income shows volatility, with strong positive percentages generally in the 25% to 40% range until a sharp dip occurred around November 2021, reflecting an anomalous negative quarter. Post this dip, operating income recovers to the 25%-33% band. Interest expense remains relatively stable in the 4.5% to 7.5% range of revenues, increasing slightly over time. Non-operating income fluctuates around zero, occasionally negative, and does not appear to materially affect operating results.
- Income Before and After Taxes
- Income before taxes follows the operating income trend, with a noticeable drop to negative levels during November 2021, then gradually recovering in subsequent periods. Provision for income taxes is variable, showing some quarters with tax benefits and others with provisions, with certain quarters presenting anomalous tax benefits (positive percentages in what is the provision line). Net income generally mirrors pre-tax income trends, maintaining strong positive margins between 20% and 30%, except for the November 2021 period where negative net income is observed. Subsequent quarters show recovery to mid-teen to low twenties percentages of revenues.
- Summary Insights
- The data reveals a company with a core revenue base heavily reliant on cloud services and license support, experiencing some operating margin compression likely tied to higher costs or changing product mix. The hardware segment diminishes steadily in importance. Operating efficiencies appear to improve in sales and marketing expense management, while R&D investment remains consistent. Profits are generally robust, though subject to notable volatility in late 2021, which appears to have been an exceptional event. The financial structure shows steady interest expense and unpredictable non-operating results, indicating potential variability in financing or investment income. Overall, the financial data reflects growth pressures in cloud services, cost management efforts, and episodic fluctuations impacting profitability.