Price to Sales (P/S)
since 2005
Calculation
Oracle Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Revenues1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jun 22, 2026 | 7.49 | = | 175.07 | ÷ | 23.38 | 23.38 | = | 67,357 | ÷ | 2,880,471,000 | |
| Jun 18, 2025 | 10.32 | = | 210.87 | ÷ | 20.44 | 20.44 | = | 57,399 | ÷ | 2,808,833,000 | |
| Jun 20, 2024 | 7.44 | = | 142.91 | ÷ | 19.22 | 19.22 | = | 52,961 | ÷ | 2,755,860,000 | |
| Jun 20, 2023 | 6.63 | = | 122.04 | ÷ | 18.40 | 18.40 | = | 49,954 | ÷ | 2,714,259,000 | |
| Jun 21, 2022 | 4.25 | = | 67.68 | ÷ | 15.93 | 15.93 | = | 42,440 | ÷ | 2,664,926,000 | |
| Jun 21, 2021 | 5.38 | = | 77.99 | ÷ | 14.50 | 14.50 | = | 40,479 | ÷ | 2,792,000,000 | |
| Jun 22, 2020 | 4.33 | = | 55.12 | ÷ | 12.73 | 12.73 | = | 39,068 | ÷ | 3,068,682,000 | |
| Jun 21, 2019 | 4.74 | = | 56.12 | ÷ | 11.84 | 11.84 | = | 39,506 | ÷ | 3,335,819,000 | |
| Jun 22, 2018 | 4.41 | = | 44.10 | ÷ | 10.00 | 10.00 | = | 39,831 | ÷ | 3,981,155,000 | |
| Jun 27, 2017 | 5.56 | = | 50.75 | ÷ | 9.12 | 9.12 | = | 37,728 | ÷ | 4,136,682,000 | |
| Jun 22, 2016 | 4.45 | = | 40.01 | ÷ | 8.99 | 8.99 | = | 37,047 | ÷ | 4,122,730,000 | |
| Jun 25, 2015 | 4.66 | = | 41.06 | ÷ | 8.82 | 8.82 | = | 38,226 | ÷ | 4,336,077,000 | |
| Jun 26, 2014 | 4.67 | = | 40.15 | ÷ | 8.59 | 8.59 | = | 38,275 | ÷ | 4,454,889,000 | |
| Jun 26, 2013 | 3.75 | = | 30.14 | ÷ | 8.03 | 8.03 | = | 37,180 | ÷ | 4,630,807,000 | |
| Jun 26, 2012 | 3.66 | = | 27.83 | ÷ | 7.60 | 7.60 | = | 37,121 | ÷ | 4,882,506,000 | |
| Jun 28, 2011 | 4.60 | = | 32.34 | ÷ | 7.03 | 7.03 | = | 35,622 | ÷ | 5,065,515,000 | |
| Jul 1, 2010 | 4.04 | = | 21.55 | ÷ | 5.34 | 5.34 | = | 26,820 | ÷ | 5,026,247,000 | |
| Jun 29, 2009 | 4.63 | = | 21.50 | ÷ | 4.64 | 4.64 | = | 23,252 | ÷ | 5,007,230,000 | |
| Jul 2, 2008 | 4.79 | = | 20.82 | ÷ | 4.35 | 4.35 | = | 22,430 | ÷ | 5,155,842,000 | |
| Jun 29, 2007 | 5.60 | = | 19.71 | ÷ | 3.52 | 3.52 | = | 17,996 | ÷ | 5,113,035,975 | |
| Jul 21, 2006 | 5.51 | = | 15.12 | ÷ | 2.75 | 2.75 | = | 14,380 | ÷ | 5,238,329,303 | |
| Jul 1, 2005 | 5.80 | = | 13.29 | ÷ | 2.29 | 2.29 | = | 11,799 | ÷ | 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 is characterized by a consistent increase in both share price and sales per share, although the resulting price-to-sales (P/S) ratio has undergone distinct phases of compression, stability, and rapid expansion.
- Growth in Fundamental Metrics
- Sales per share exhibited a steady and uninterrupted upward trend, rising from 2.29 US$ in 2005 to 23.38 US$ by 2026. During the same period, the share price increased from 13.29 US$ to 175.07 US$. While both metrics grew, the rate of share price appreciation accelerated significantly in the final third of the observed period, leading to fluctuations in the valuation multiple.
- Valuation Compression and Stability (2005–2022)
- From 2005 to 2012, a general downward trend in the P/S ratio is observed, declining from 5.80 to a period low of 3.66. Following this decline, the ratio entered a phase of relative stability between 2013 and 2022, generally fluctuating within a range of 4.25 to 5.56. This indicates a period where the market valuation remained closely aligned with the growth in revenue per share.
- Valuation Expansion and Correction (2023–2026)
- A sharp increase in the P/S ratio occurred starting in 2023, climbing from 4.25 in 2022 to a peak of 10.32 in 2025. This surge suggests a significant expansion in market valuation that outpaced the growth in sales per share. This peak was followed by a correction in 2026, where the ratio decreased to 7.49, signaling a partial normalization of the multiple relative to historical averages.
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Comparison to Competitors
Oracle Corp., P/S, 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 | 7.49 | — | — | — | — | 22.46 | — | — | — | — | — | — | 4.29 | — | — | 4.06 |
| Jun 18, 2025 | 10.32 | 2.15 | 5.25 | 25.35 | 15.27 | 19.37 | 12.53 | 3.19 | 9.90 | 13.54 | 71.09 | 13.82 | 7.40 | 9.20 | 13.05 | 7.65 |
| Jun 20, 2024 | 7.44 | 3.48 | 8.27 | 23.14 | 15.26 | 26.10 | 16.12 | 3.81 | 10.72 | 12.82 | 102.00 | 13.62 | 8.45 | 18.99 | 12.45 | 9.61 |
| Jun 20, 2023 | 6.63 | 2.98 | 13.88 | 6.14 | 20.02 | 12.81 | 20.19 | 2.73 | 10.72 | 11.60 | 23.27 | 10.87 | 5.84 | 17.52 | 14.75 | 7.71 |
| Jun 21, 2022 | 4.25 | 2.56 | 8.95 | 1.80 | 14.23 | 30.15 | 14.64 | 1.94 | 9.30 | 10.40 | 9.34 | 9.62 | 7.40 | 12.75 | 10.03 | 11.19 |
| Jun 21, 2021 | 5.38 | 4.28 | 14.94 | 5.99 | 12.55 | 48.70 | 49.25 | 1.94 | 16.09 | 12.81 | 15.58 | 10.72 | 9.24 | 19.02 | 13.22 | 13.95 |
| Jun 22, 2020 | 4.33 | 3.26 | 17.04 | — | 13.85 | 22.78 | 49.57 | 1.47 | 11.78 | 10.85 | 39.86 | 6.66 | 8.88 | 25.66 | 10.08 | 10.65 |
| Jun 21, 2019 | 4.74 | 2.72 | 15.11 | — | 8.56 | — | 36.28 | 1.63 | 11.05 | 8.38 | — | 7.06 | 9.00 | 19.36 | 6.27 | 14.75 |
| Jun 22, 2018 | 4.41 | 2.35 | 13.23 | — | 7.53 | — | — | 1.56 | 9.52 | 7.51 | — | 9.75 | 8.89 | 16.63 | 4.10 | 13.73 |
| Jun 27, 2017 | 5.56 | 2.45 | 13.32 | — | 5.85 | — | — | 1.82 | 6.99 | 6.19 | — | 7.49 | 6.96 | 14.55 | 4.80 | 11.06 |
| Jun 22, 2016 | 4.45 | 2.13 | 9.34 | — | 4.53 | — | — | 2.12 | 6.17 | 5.13 | — | 9.69 | 7.09 | 10.50 | 3.71 | 12.08 |
| Jun 25, 2015 | 4.66 | 2.11 | 9.27 | — | 3.73 | — | — | 1.56 | 5.56 | 3.99 | — | 16.88 | 7.82 | 8.69 | 3.07 | 19.97 |
| Jun 26, 2014 | 4.67 | 1.61 | 8.59 | — | 3.42 | — | — | 1.76 | 5.32 | 4.10 | — | 13.17 | 9.54 | 16.81 | 3.15 | 35.87 |
| Jun 26, 2013 | 3.75 | 1.64 | 7.45 | — | 2.96 | — | — | 1.91 | 4.47 | 3.41 | — | 8.38 | 8.92 | 22.61 | 3.12 | 37.91 |
| Jun 26, 2012 | 3.66 | 1.54 | 4.30 | — | 3.02 | — | — | 2.12 | 4.27 | 3.32 | — | 17.50 | 8.91 | 19.84 | 2.76 | — |
| Jun 28, 2011 | 4.60 | 1.47 | 3.65 | — | 2.81 | — | — | 2.15 | 3.71 | 3.32 | — | — | 9.79 | — | 2.52 | — |
| Jul 1, 2010 | 4.04 | 1.36 | 4.50 | — | 2.76 | — | — | 1.98 | 4.12 | 3.57 | — | — | 7.35 | — | 2.93 | — |
| Jun 29, 2009 | 4.63 | 1.20 | 6.12 | — | 1.81 | — | — | 1.72 | 2.81 | 3.63 | — | — | 3.52 | — | 2.33 | — |
| Jul 2, 2008 | 4.79 | 0.92 | 2.88 | — | 1.01 | — | — | 1.12 | 3.21 | 3.89 | — | — | 9.52 | — | 1.93 | — |
| Jun 29, 2007 | 5.60 | 1.41 | 6.24 | — | 1.91 | — | — | 1.60 | 3.61 | 20.52 | — | — | 9.94 | — | 3.16 | — |
| Jul 21, 2006 | 5.51 | 1.44 | 8.78 | — | 3.95 | — | — | 1.55 | 4.87 | 17.98 | — | — | 13.93 | — | 3.54 | — |
| Jul 1, 2005 | 5.80 | 1.32 | 11.84 | — | 3.86 | — | — | 1.38 | 3.94 | 21.64 | — | — | 8.64 | — | 3.15 | — |
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/S, long-term trends, comparison to sector (software & services)
| Oracle Corp. | Software & Services | |
|---|---|---|
| Jun 22, 2026 | 7.49 | — |
| Jun 18, 2025 | 10.32 | 10.41 |
| Jun 20, 2024 | 7.44 | 10.40 |
| Jun 20, 2023 | 6.63 | 8.78 |
| Jun 21, 2022 | 4.25 | 7.45 |
| Jun 21, 2021 | 5.38 | 9.54 |
| Jun 22, 2020 | 4.33 | 7.74 |
| Jun 21, 2019 | 4.74 | 6.11 |
| Jun 22, 2018 | 4.41 | 5.24 |
| Jun 27, 2017 | 5.56 | 4.65 |
| Jun 22, 2016 | 4.45 | 3.95 |
| Jun 25, 2015 | 4.66 | 3.41 |
| Jun 26, 2014 | 4.67 | 3.34 |
| Jun 26, 2013 | 3.75 | 2.89 |
| Jun 26, 2012 | 3.66 | 2.79 |
| Jun 28, 2011 | 4.60 | 2.85 |
| Jul 1, 2010 | 4.04 | 2.73 |
| Jun 29, 2009 | 4.63 | 2.61 |
| Jul 2, 2008 | 4.79 | 2.31 |
| Jun 29, 2007 | 5.60 | 6.95 |
| Jul 21, 2006 | 5.51 | 6.20 |
| Jul 1, 2005 | 5.80 | 6.73 |
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/S, long-term trends, comparison to industry (information technology)
| Oracle Corp. | Information Technology | |
|---|---|---|
| Jun 22, 2026 | 7.49 | — |
| Jun 18, 2025 | 10.32 | 10.47 |
| Jun 20, 2024 | 7.44 | 9.33 |
| Jun 20, 2023 | 6.63 | 7.33 |
| Jun 21, 2022 | 4.25 | 6.01 |
| Jun 21, 2021 | 5.38 | 7.00 |
| Jun 22, 2020 | 4.33 | 6.12 |
| Jun 21, 2019 | 4.74 | 4.62 |
| Jun 22, 2018 | 4.41 | 4.31 |
| Jun 27, 2017 | 5.56 | 4.19 |
| Jun 22, 2016 | 4.45 | 3.47 |
| Jun 25, 2015 | 4.66 | 3.04 |
| Jun 26, 2014 | 4.67 | 3.32 |
| Jun 26, 2013 | 3.75 | 2.86 |
| Jun 26, 2012 | 3.66 | 2.89 |
| Jun 28, 2011 | 4.60 | 2.84 |
| Jul 1, 2010 | 4.04 | 3.03 |
| Jun 29, 2009 | 4.63 | 3.12 |
| Jul 2, 2008 | 4.79 | 2.39 |
| Jun 29, 2007 | 5.60 | 5.74 |
| Jul 21, 2006 | 5.51 | 5.19 |
| Jul 1, 2005 | 5.80 | 5.61 |
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).