Price to Earnings (P/E)
since 2005
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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 | = | ÷ | = | ÷ | |||||||
| Jun 18, 2025 | = | ÷ | = | ÷ | |||||||
| Jun 20, 2024 | = | ÷ | = | ÷ | |||||||
| Jun 20, 2023 | = | ÷ | = | ÷ | |||||||
| Jun 21, 2022 | = | ÷ | = | ÷ | |||||||
| Jun 21, 2021 | = | ÷ | = | ÷ | |||||||
| Jun 22, 2020 | = | ÷ | = | ÷ | |||||||
| Jun 21, 2019 | = | ÷ | = | ÷ | |||||||
| Jun 22, 2018 | = | ÷ | = | ÷ | |||||||
| Jun 27, 2017 | = | ÷ | = | ÷ | |||||||
| Jun 22, 2016 | = | ÷ | = | ÷ | |||||||
| Jun 25, 2015 | = | ÷ | = | ÷ | |||||||
| Jun 26, 2014 | = | ÷ | = | ÷ | |||||||
| Jun 26, 2013 | = | ÷ | = | ÷ | |||||||
| Jun 26, 2012 | = | ÷ | = | ÷ | |||||||
| Jun 28, 2011 | = | ÷ | = | ÷ | |||||||
| Jul 1, 2010 | = | ÷ | = | ÷ | |||||||
| Jun 29, 2009 | = | ÷ | = | ÷ | |||||||
| Jul 2, 2008 | = | ÷ | = | ÷ | |||||||
| Jun 29, 2007 | = | ÷ | = | ÷ | |||||||
| Jul 21, 2006 | = | ÷ | = | ÷ | |||||||
| Jul 1, 2005 | = | ÷ | = | ÷ |
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.
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 | ||||||||||||||||
| Jun 18, 2025 | ||||||||||||||||
| Jun 20, 2024 | ||||||||||||||||
| Jun 20, 2023 | ||||||||||||||||
| Jun 21, 2022 | ||||||||||||||||
| Jun 21, 2021 | ||||||||||||||||
| Jun 22, 2020 | ||||||||||||||||
| Jun 21, 2019 | ||||||||||||||||
| Jun 22, 2018 | ||||||||||||||||
| Jun 27, 2017 | ||||||||||||||||
| Jun 22, 2016 | ||||||||||||||||
| Jun 25, 2015 | ||||||||||||||||
| Jun 26, 2014 | ||||||||||||||||
| Jun 26, 2013 | ||||||||||||||||
| Jun 26, 2012 | ||||||||||||||||
| Jun 28, 2011 | ||||||||||||||||
| Jul 1, 2010 | ||||||||||||||||
| Jun 29, 2009 | ||||||||||||||||
| Jul 2, 2008 | ||||||||||||||||
| Jun 29, 2007 | ||||||||||||||||
| Jul 21, 2006 | ||||||||||||||||
| Jul 1, 2005 |
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 | ||
| Jun 18, 2025 | ||
| Jun 20, 2024 | ||
| Jun 20, 2023 | ||
| Jun 21, 2022 | ||
| Jun 21, 2021 | ||
| Jun 22, 2020 | ||
| Jun 21, 2019 | ||
| Jun 22, 2018 | ||
| Jun 27, 2017 | ||
| Jun 22, 2016 | ||
| Jun 25, 2015 | ||
| Jun 26, 2014 | ||
| Jun 26, 2013 | ||
| Jun 26, 2012 | ||
| Jun 28, 2011 | ||
| Jul 1, 2010 | ||
| Jun 29, 2009 | ||
| Jul 2, 2008 | ||
| Jun 29, 2007 | ||
| Jul 21, 2006 | ||
| Jul 1, 2005 |
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 | ||
| Jun 18, 2025 | ||
| Jun 20, 2024 | ||
| Jun 20, 2023 | ||
| Jun 21, 2022 | ||
| Jun 21, 2021 | ||
| Jun 22, 2020 | ||
| Jun 21, 2019 | ||
| Jun 22, 2018 | ||
| Jun 27, 2017 | ||
| Jun 22, 2016 | ||
| Jun 25, 2015 | ||
| Jun 26, 2014 | ||
| Jun 26, 2013 | ||
| Jun 26, 2012 | ||
| Jun 28, 2011 | ||
| Jul 1, 2010 | ||
| Jun 29, 2009 | ||
| Jul 2, 2008 | ||
| Jun 29, 2007 | ||
| Jul 21, 2006 | ||
| Jul 1, 2005 |
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).