Oracle Corp. (NYSE:ORCL)

Current liabilities have demonstrated a fluctuating but generally increasing trend from August 2019 to August 2025, peaking sharply at 34,819 million US dollars in August 2022 before experiencing a decline and then rising again toward the end of the period. Significant components such as notes payable and other current borrowings displayed considerable volatility, with notable spikes in August 2022 and May 2024. Accounts payable also showed upward momentum, reaching its highest values at the latter part of the timeline, suggesting increased operational obligations or procurement activity. Accrued compensation and related benefits experienced variations but generally trended upward, reflecting rising personnel-related expenses. Deferred revenues showed cyclical fluctuations with a slight upward bias, which indicates changes in revenue recognition timing.

Non-current liabilities exhibited substantial growth during the analysed period, increasing from roughly 68,335 million US dollars in August 2019 to a peak near 115,909 million US dollars by May 2025. The majority of this category is composed of notes payable and other borrowings, which, despite periods of decline, generally trended upward, indicating increased long-term debt obligations over time. Other non-current liabilities also increased steadily, underlining a rise in longer-term commitments or accrued obligations. Deferred tax liabilities started appearing partway through the timeline and showed a declining pattern once recorded, possibly due to changes in tax strategy or asset valuation.

Total liabilities grew significantly, from approximately 87,210 million US dollars in August 2019 to a high of about 155,783 million US dollars in May 2025. This pronounced increase reflects rising financial obligations and suggests expanded leverage or financing activities over the period.

Stockholders’ equity showed a complex pattern, starting positively but declining sharply between August 2019 and August 2021, where it reached a negative balance, indicating accumulated losses or deficit situations. However, from late 2021 onward, equity recovered and trended upward steadily, reaching approximately 24,666 million US dollars by August 2025. This recovery is supported by a reduction in the accumulated deficit and growth in common stock and additional paid-in capital, suggesting improved profitability or effective capital management. Noncontrolling interests remained relatively stable throughout the period with minor fluctuations.

The accumulated deficit worsened from -6,446 million US dollars in August 2019 to a peak negative value around -25,679 million US dollars in August 2021 before gradually reducing in magnitude, indicating an improvement in retained earnings or cumulative results. Accumulated other comprehensive loss remained negative and relatively steady with minor fluctuations, indicating ongoing unrealized losses on certain financial items or hedges.

Overall, liabilities have increased markedly, driven by both current and non-current borrowings, which may point to leverage amplification or financing for growth and operations. The initial period’s decline in stockholders’ equity turning into a recovery phase implies overcoming past profitability challenges and strengthening the balance sheet. Higher accounts payable and accrued compensation reflect operational scale changes and cost structures. The increase in deferred revenues indicates changes in revenue timing or contract structures. The observed trends suggest an ongoing adjustment in capital structure and operational financing strategies over the analysed timeframe.