Price to Earnings (P/E)
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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 income1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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: 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.
- Share Price Trends
- The share price exhibited an overall upward trajectory from 2005 through 2024, starting at $13.29 and reaching $142.91 in the latest period. Initially, the increase was gradual, with moderate year-to-year changes. Notable surges occurred around 2011 when the price jumped from $21.55 to $32.34, and more significantly from 2018 onwards, culminating in a peak of $142.91 by 2024. However, some intermittent declines were observed, such as between 2011 and 2012, and 2021 to 2022, indicating some short-term volatility despite the long-term growth pattern.
- Earnings per Share (EPS) Analysis
- EPS demonstrated consistent growth over the 20-year span, growing from $0.56 in 2005 to $3.80 in 2024, representing a substantial increase. Growth was steady with slight fluctuations. For example, EPS rose gradually to $2.46 by 2014 but then dipped slightly to $2.16 in 2016 before increasing again. A significant dip to $0.96 was noted in 2018, contrasting with the prior upward trend, but was followed by a rapid recovery, climbing to $4.92 by 2021. Post-2021, EPS showed moderate variability but remained above earlier levels.
- Price-to-Earnings (P/E) Ratio Evaluation
- The P/E ratio fluctuated considerably throughout the period, reflecting varying market perceptions of valuation relative to earnings. Starting near 23.7 in 2005, it generally declined to a low near 12.78 in 2013, suggesting the stock was potentially undervalued relative to earnings then. A sharp increase occurred post-2013, reaching an extreme high of 45.9 in 2018, which coincided with the EPS dip, indicative of a high valuation despite lower earnings. After 2018, the ratio oscillated between mid-teens and high 30s, reaching 37.63 in 2024. This volatility implies changing investor confidence and valuation adjustments in line with earnings fluctuations and share price changes.
- Interrelations and Insights
- The general upward movement in share price aligns with overall improvement in earnings per share, signifying fundamental financial growth. The sharp increase in P/E ratio during periods of earnings decline suggests market optimism or pricing driven by factors beyond current earnings. Conversely, periods of reduced P/E ratio coincide with stronger earnings growth relative to share price increases, possibly reflecting more conservative valuations. The data suggests that while earnings growth underpins long-term share price appreciation, market sentiment significantly influences valuation multiples across time.
Comparison to Competitors
Oracle Corp., P/E, long-term trends, comparison to competitors
| Oracle Corp. | Accenture PLC | Adobe Inc. | Cadence Design Systems Inc. | CrowdStrike Holdings 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 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: 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 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: 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 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: 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).