Price to Earnings (P/E)
since 2005
Calculation
Oracle Corp., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income available to common shareholders1 (in millions) | ÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 22, 2026 | 29.69 | = | 175.07 | ÷ | 5.90 | 5.90 | = | 16,984 | ÷ | 2,880,471,000 | |
| Jun 18, 2025 | 47.60 | = | 210.87 | ÷ | 4.43 | 4.43 | = | 12,443 | ÷ | 2,808,833,000 | |
| Jun 20, 2024 | 37.63 | = | 142.91 | ÷ | 3.80 | 3.80 | = | 10,467 | ÷ | 2,755,860,000 | |
| Jun 20, 2023 | 38.96 | = | 122.04 | ÷ | 3.13 | 3.13 | = | 8,503 | ÷ | 2,714,259,000 | |
| Jun 21, 2022 | 26.85 | = | 67.68 | ÷ | 2.52 | 2.52 | = | 6,717 | ÷ | 2,664,926,000 | |
| Jun 21, 2021 | 15.84 | = | 77.99 | ÷ | 4.92 | 4.92 | = | 13,746 | ÷ | 2,792,000,000 | |
| Jun 22, 2020 | 16.69 | = | 55.12 | ÷ | 3.30 | 3.30 | = | 10,135 | ÷ | 3,068,682,000 | |
| Jun 21, 2019 | 16.89 | = | 56.12 | ÷ | 3.32 | 3.32 | = | 11,083 | ÷ | 3,335,819,000 | |
| Jun 22, 2018 | 45.90 | = | 44.10 | ÷ | 0.96 | 0.96 | = | 3,825 | ÷ | 3,981,155,000 | |
| Jun 27, 2017 | 22.49 | = | 50.75 | ÷ | 2.26 | 2.26 | = | 9,335 | ÷ | 4,136,682,000 | |
| Jun 22, 2016 | 18.53 | = | 40.01 | ÷ | 2.16 | 2.16 | = | 8,901 | ÷ | 4,122,730,000 | |
| Jun 25, 2015 | 17.92 | = | 41.06 | ÷ | 2.29 | 2.29 | = | 9,938 | ÷ | 4,336,077,000 | |
| Jun 26, 2014 | 16.33 | = | 40.15 | ÷ | 2.46 | 2.46 | = | 10,955 | ÷ | 4,454,889,000 | |
| Jun 26, 2013 | 12.78 | = | 30.14 | ÷ | 2.36 | 2.36 | = | 10,925 | ÷ | 4,630,807,000 | |
| Jun 26, 2012 | 13.61 | = | 27.83 | ÷ | 2.04 | 2.04 | = | 9,981 | ÷ | 4,882,506,000 | |
| Jun 28, 2011 | 19.17 | = | 32.34 | ÷ | 1.69 | 1.69 | = | 8,547 | ÷ | 5,065,515,000 | |
| Jul 1, 2010 | 17.66 | = | 21.55 | ÷ | 1.22 | 1.22 | = | 6,135 | ÷ | 5,026,247,000 | |
| Jun 29, 2009 | 19.25 | = | 21.50 | ÷ | 1.12 | 1.12 | = | 5,593 | ÷ | 5,007,230,000 | |
| Jul 2, 2008 | 19.44 | = | 20.82 | ÷ | 1.07 | 1.07 | = | 5,521 | ÷ | 5,155,842,000 | |
| Jun 29, 2007 | 23.58 | = | 19.71 | ÷ | 0.84 | 0.84 | = | 4,274 | ÷ | 5,113,035,975 | |
| Jul 21, 2006 | 23.43 | = | 15.12 | ÷ | 0.65 | 0.65 | = | 3,381 | ÷ | 5,238,329,303 | |
| Jul 1, 2005 | 23.70 | = | 13.29 | ÷ | 0.56 | 0.56 | = | 2,886 | ÷ | 5,146,713,889 |
Based on: 10-K (reporting date: 2026-05-31), 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Oracle Corp. Annual Report.
The financial trajectory from 2005 through 2026 indicates a long-term appreciation in both equity value and earnings per share, characterized by distinct cycles of valuation compression and expansion. While the share price has grown substantially over the two-decade period, the Price-to-Earnings (P/E) ratio has fluctuated, reflecting changing market sentiment and earnings volatility.
- Valuation Compression and Stability (2005–2013)
- An initial period of relative stability was observed between 2005 and 2007, with the P/E ratio holding steady near 23. This was followed by a sustained downward trend in the valuation multiple, which reached a cyclical low of 12.78 in 2013. This compression occurred despite a consistent increase in earnings per share, which rose from 0.56 in 2005 to 2.36 in 2013, suggesting that earnings growth outpaced share price appreciation during this interval.
- Earnings Volatility and Valuation Anomalies (2014–2021)
- The period between 2014 and 2021 was marked by significant volatility in earnings, most notably in 2018 when earnings per share dropped sharply to 0.96. This contraction caused a mathematical spike in the P/E ratio to 45.90, the highest recorded multiple until 2025. Subsequent years showed a stabilization of the P/E ratio in the 15 to 17 range, as earnings recovered and stabilized between 3.30 and 4.92.
- Multiple Expansion and Peak Valuation (2022–2025)
- A regime of aggressive multiple expansion began in 2022. The P/E ratio climbed from 26.85 in 2022 to a peak of 47.60 in 2025. This trend was driven by a rapid escalation in share price, which peaked at 210.87 in 2025, far exceeding the growth rate of the corresponding earnings per share. This indicates a period of heightened market optimism or a shift in the perceived growth profile of the entity.
- Recent Convergence and Forecast (2026)
- By 2026, a correction in the valuation multiple is observed, with the P/E ratio descending to 29.69. This decline is accompanied by a reduction in share price to 175.07 and a concurrent increase in earnings per share to 5.90. This movement suggests a trend toward valuation normalization as earnings growth catches up to previous price expansions.
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Comparison to Competitors
Oracle Corp., P/E, long-term trends, comparison to competitors
| Oracle Corp. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 22, 2026 | 29.69 | — | — | — | — | — | — | — | — | — | — | — | 23.88 | — | — | 56.01 |
| Jun 18, 2025 | 47.60 | 19.47 | 17.51 | 41.68 | 72.92 | — | 398.52 | 20.31 | 48.19 | 37.46 | 195.77 | 112.39 | 45.28 | 69.85 | 69.11 | 122.85 |
| Jun 20, 2024 | 37.63 | 31.07 | 31.98 | 68.97 | 67.09 | 892.67 | 235.49 | 39.68 | 58.94 | 35.67 | 632.38 | 42.42 | 71.24 | 146.40 | 33.69 | 50.53 |
| Jun 20, 2023 | 38.96 | 27.81 | 49.64 | 56.56 | 78.64 | — | 884.97 | 22.50 | 64.61 | 33.96 | 246.77 | 170.35 | 879.57 | 90.80 | 70.08 | — |
| Jun 21, 2022 | 26.85 | 22.93 | 33.15 | — | 59.70 | — | — | 71.56 | 57.31 | 28.34 | — | — | 135.68 | 284.29 | 51.76 | 1,957.29 |
| Jun 21, 2021 | 15.84 | 36.58 | 48.90 | 472.35 | 53.88 | — | — | 19.40 | 75.17 | 35.14 | — | — | 48.20 | 487.70 | 73.37 | — |
| Jun 22, 2020 | 16.69 | 28.32 | 41.69 | — | 62.89 | — | — | 19.30 | 49.52 | 35.04 | — | — | 1,204.70 | 978.49 | 55.92 | — |
| Jun 21, 2019 | 16.89 | 24.58 | 57.17 | — | 20.22 | — | — | 13.35 | 48.17 | 26.86 | — | — | 107.70 | 106.89 | 39.55 | — |
| Jun 22, 2018 | 45.90 | 24.10 | 46.11 | — | 46.59 | — | — | 14.25 | 46.88 | 50.00 | — | — | 731.11 | — | 29.60 | — |
| Jun 27, 2017 | 22.49 | 26.18 | 57.41 | — | 55.67 | — | — | 25.07 | 37.26 | 26.25 | — | — | 324.94 | — | 95.81 | — |
| Jun 22, 2016 | 18.53 | 18.07 | 46.80 | — | 40.53 | — | — | 14.29 | 29.60 | 26.08 | — | — | — | — | 33.71 | — |
| Jun 25, 2015 | 17.92 | 22.75 | 70.59 | — | 25.14 | — | — | 9.65 | 63.89 | 30.63 | — | — | — | — | 30.45 | — |
| Jun 26, 2014 | 16.33 | 17.46 | 132.73 | — | 34.03 | — | — | 13.55 | 26.44 | 16.11 | — | — | — | — | 25.00 | — |
| Jun 26, 2013 | 12.78 | 15.20 | 104.21 | — | 26.30 | — | — | 11.58 | 21.73 | 12.14 | — | — | — | — | 24.68 | — |
| Jun 26, 2012 | 13.61 | 17.95 | 22.73 | — | 9.11 | — | — | 13.37 | 22.37 | 14.40 | — | 6,057.94 | — | — | 26.53 | — |
| Jun 28, 2011 | 19.17 | 17.60 | 18.49 | — | 44.80 | — | — | 14.47 | 22.53 | 10.03 | — | — | 251.73 | — | 17.51 | — |
| Jul 1, 2010 | 17.66 | 17.62 | 22.05 | — | 20.39 | — | — | 13.32 | 24.82 | 11.91 | — | — | 118.88 | — | 17.09 | — |
| Jun 29, 2009 | 19.25 | 17.45 | 46.62 | — | — | — | — | 12.24 | 20.01 | 14.56 | — | — | 87.39 | — | 18.86 | — |
| Jul 2, 2008 | 19.44 | 13.74 | 11.84 | — | — | — | — | 9.40 | 20.68 | 13.28 | — | — | 388.13 | — | 13.55 | — |
| Jun 29, 2007 | 23.58 | 24.38 | 27.23 | — | 10.43 | — | — | 15.20 | 21.92 | 74.58 | — | — | 10,271.10 | — | 29.39 | — |
| Jul 21, 2006 | 23.43 | 26.95 | 44.72 | — | 41.15 | — | — | 14.90 | 27.35 | 63.21 | — | — | 151.60 | — | 156.86 | — |
| Jul 1, 2005 | 23.70 | 24.06 | 38.61 | — | 103.88 | — | — | 15.85 | 21.02 | 70.27 | — | — | 207.38 | — | — | — |
Based on: 10-K (reporting date: 2026-05-31), 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Sector (Software & Services)
Oracle Corp., P/E, long-term trends, comparison to sector (software & services)
| Oracle Corp. | Software & Services | |
|---|---|---|
| Jun 22, 2026 | 29.69 | — |
| Jun 18, 2025 | 47.60 | 40.01 |
| Jun 20, 2024 | 37.63 | 42.11 |
| Jun 20, 2023 | 38.96 | 40.33 |
| Jun 21, 2022 | 26.85 | 34.78 |
| Jun 21, 2021 | 15.84 | 38.09 |
| Jun 22, 2020 | 16.69 | 38.69 |
| Jun 21, 2019 | 16.89 | 28.30 |
| Jun 22, 2018 | 45.90 | 43.31 |
| Jun 27, 2017 | 22.49 | 30.27 |
| Jun 22, 2016 | 18.53 | 23.96 |
| Jun 25, 2015 | 17.92 | 23.38 |
| Jun 26, 2014 | 16.33 | 18.36 |
| Jun 26, 2013 | 12.78 | 14.09 |
| Jun 26, 2012 | 13.61 | 14.97 |
| Jun 28, 2011 | 19.17 | 13.91 |
| Jul 1, 2010 | 17.66 | 14.04 |
| Jun 29, 2009 | 19.25 | 15.17 |
| Jul 2, 2008 | 19.44 | 13.87 |
| Jun 29, 2007 | 23.58 | 43.67 |
| Jul 21, 2006 | 23.43 | 39.59 |
| Jul 1, 2005 | 23.70 | 44.69 |
Based on: 10-K (reporting date: 2026-05-31), 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).
Comparison to Industry (Information Technology)
Oracle Corp., P/E, long-term trends, comparison to industry (information technology)
| Oracle Corp. | Information Technology | |
|---|---|---|
| Jun 22, 2026 | 29.69 | — |
| Jun 18, 2025 | 47.60 | 40.65 |
| Jun 20, 2024 | 37.63 | 45.35 |
| Jun 20, 2023 | 38.96 | 36.11 |
| Jun 21, 2022 | 26.85 | 26.94 |
| Jun 21, 2021 | 15.84 | 29.77 |
| Jun 22, 2020 | 16.69 | 31.23 |
| Jun 21, 2019 | 16.89 | 23.31 |
| Jun 22, 2018 | 45.90 | 23.18 |
| Jun 27, 2017 | 22.49 | 23.50 |
| Jun 22, 2016 | 18.53 | 19.51 |
| Jun 25, 2015 | 17.92 | 16.54 |
| Jun 26, 2014 | 16.33 | 17.12 |
| Jun 26, 2013 | 12.78 | 14.14 |
| Jun 26, 2012 | 13.61 | 14.37 |
| Jun 28, 2011 | 19.17 | 13.73 |
| Jul 1, 2010 | 17.66 | 14.99 |
| Jun 29, 2009 | 19.25 | 21.45 |
| Jul 2, 2008 | 19.44 | 15.68 |
| Jun 29, 2007 | 23.58 | 36.28 |
| Jul 21, 2006 | 23.43 | 31.95 |
| Jul 1, 2005 | 23.70 | 33.66 |
Based on: 10-K (reporting date: 2026-05-31), 10-K (reporting date: 2025-05-31), 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31), 10-K (reporting date: 2018-05-31), 10-K (reporting date: 2017-05-31), 10-K (reporting date: 2016-05-31), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-31), 10-K (reporting date: 2013-05-31), 10-K (reporting date: 2012-05-31), 10-K (reporting date: 2011-05-31), 10-K (reporting date: 2010-05-31), 10-K (reporting date: 2009-05-31), 10-K (reporting date: 2008-05-31), 10-K (reporting date: 2007-05-31), 10-K (reporting date: 2006-05-31), 10-K (reporting date: 2005-05-31).