Selected Financial Data
since 2005
Income Statement
Oracle Corp., selected items from income statement, long-term trends
US$ in millions
| 12 months ended: | Revenues | Operating income | Net income |
|---|---|---|---|
| May 31, 2026 | 67,357) | 20,606) | 17,087) |
| May 31, 2025 | 57,399) | 17,678) | 12,443) |
| May 31, 2024 | 52,961) | 15,353) | 10,467) |
| May 31, 2023 | 49,954) | 13,093) | 8,503) |
| May 31, 2022 | 42,440) | 10,926) | 6,717) |
| May 31, 2021 | 40,479) | 15,213) | 13,746) |
| May 31, 2020 | 39,068) | 13,896) | 10,135) |
| May 31, 2019 | 39,506) | 13,535) | 11,083) |
| May 31, 2018 | 39,831) | 13,679) | 3,825) |
| May 31, 2017 | 37,728) | 12,710) | 9,335) |
| May 31, 2016 | 37,047) | 12,604) | 8,901) |
| May 31, 2015 | 38,226) | 13,871) | 9,938) |
| May 31, 2014 | 38,275) | 14,759) | 10,955) |
| May 31, 2013 | 37,180) | 14,684) | 10,925) |
| May 31, 2012 | 37,121) | 13,706) | 9,981) |
| May 31, 2011 | 35,622) | 12,033) | 8,547) |
| May 31, 2010 | 26,820) | 9,062) | 6,135) |
| May 31, 2009 | 23,252) | 8,321) | 5,593) |
| May 31, 2008 | 22,430) | 7,844) | 5,521) |
| May 31, 2007 | 17,996) | 5,974) | 4,274) |
| May 31, 2006 | 14,380) | 4,736) | 3,381) |
| May 31, 2005 | 11,799) | 4,022) | 2,886) |
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).
The financial performance from 2005 to 2026 exhibits a trajectory characterized by an initial phase of rapid expansion, a prolonged period of stagnation, and a subsequent phase of accelerated growth. Revenue, operating income, and net income all demonstrate a general upward trend, although the growth rates vary significantly across different time intervals.
- Revenue Trends
- A period of aggressive growth occurred between 2005 and 2011, with revenues increasing from 11,799 million USD to 35,622 million USD. This was followed by a decade of relative stagnation from 2012 to 2021, where revenues plateaued between approximately 37,000 million USD and 40,000 million USD. A renewed acceleration is observed starting in 2022, with a sharp climb leading to 67,357 million USD by 2026.
- Operating Income and Efficiency
- Operating income followed a similar growth pattern to revenue, peaking initially in 2014 at 14,759 million USD. A period of volatility and decline occurred between 2015 and 2022, reaching a localized low of 10,926 million USD in 2022. However, a strong recovery is evident from 2023 onward, with operating income rising steadily to reach 20,606 million USD by 2026, indicating improved operational leverage in the final years of the period.
- Net Income Volatility
- Net income demonstrates the highest degree of variance. While there was a steady increase from 2005 to 2014, the bottom line experienced significant anomalies, most notably a sharp decline to 3,825 million USD in 2018 and another drop to 6,717 million USD in 2022. Despite these fluctuations, the most recent data shows a robust recovery and a steep upward trajectory, with net income reaching 17,087 million USD by 2026.
- Profitability Correlation
- The alignment between revenue growth and operating income in the most recent period (2022–2026) suggests a successful scaling of the business model. The synchronization of the recovery in both operating and net income indicates that recent growth is translating effectively into bottom-line profitability.
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Balance Sheet: Assets
Oracle Corp., selected items from assets, long-term trends
US$ in millions
| Current assets | Total assets | |
|---|---|---|
| May 31, 2026 | 46,567) | 261,759) |
| May 31, 2025 | 24,579) | 168,361) |
| May 31, 2024 | 22,554) | 140,976) |
| May 31, 2023 | 21,004) | 134,384) |
| May 31, 2022 | 31,633) | 109,297) |
| May 31, 2021 | 55,567) | 131,107) |
| May 31, 2020 | 52,140) | 115,438) |
| May 31, 2019 | 46,386) | 108,709) |
| May 31, 2018 | 75,964) | 137,264) |
| May 31, 2017 | 74,515) | 134,991) |
| May 31, 2016 | 64,313) | 112,180) |
| May 31, 2015 | 63,183) | 110,903) |
| May 31, 2014 | 48,138) | 90,344) |
| May 31, 2013 | 41,692) | 81,812) |
| May 31, 2012 | 40,023) | 78,327) |
| May 31, 2011 | 39,174) | 73,535) |
| May 31, 2010 | 27,004) | 61,578) |
| May 31, 2009 | 18,581) | 47,416) |
| May 31, 2008 | 18,103) | 47,268) |
| May 31, 2007 | 12,883) | 34,572) |
| May 31, 2006 | 11,974) | 29,029) |
| May 31, 2005 | 8,479) | 20,687) |
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).
The asset structure exhibits a long-term expansionary trend characterized by significant growth in total assets, punctuated by periods of volatility and structural shifts in liquidity. Between 2005 and 2026, total assets experienced an overall increase from 20,687 million USD to 261,759 million USD, representing a substantial expansion of the balance sheet.
- Total Asset Trajectory
- A consistent upward trend is observed from 2005 through 2018, with total assets rising from 20,687 million USD to a peak of 137,264 million USD. A notable contraction occurred in 2019, where assets fell to 108,709 million USD, followed by a recovery period. The most aggressive growth phase began after 2022, with assets accelerating from 109,297 million USD to 261,759 million USD by 2026, indicating a massive increase in the company's resource base in the final years of the period.
- Current Asset Dynamics
- Current assets followed a growth pattern similar to total assets until 2018, increasing from 8,479 million USD in 2005 to a peak of 75,964 million USD. However, a sharp decline was recorded in 2019, dropping to 46,386 million USD. This downward pressure continued intermittently, reaching a period low of 21,004 million USD in 2023. A subsequent recovery is evident from 2024 through 2026, with current assets rising back to 46,567 million USD.
- Asset Composition and Liquidity Shift
- An analysis of the relationship between current and total assets reveals a significant shift in the balance sheet composition. In the early period (2005–2018), current assets constituted a substantial portion of total assets, peaking at approximately 55% of the total in 2018. Conversely, in the latter period, specifically between 2022 and 2023, the proportion of current assets dropped sharply to approximately 15% to 19% of total assets. This suggests a strategic transition toward non-current assets, such as long-term investments, intangible assets, or fixed capital, rather than maintaining high levels of short-term liquidity.
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Balance Sheet: Liabilities and Stockholders’ Equity
Oracle Corp., selected items from liabilities and stockholders’ equity, long-term trends
US$ in millions
| Current liabilities | Total liabilities | Notes payable and other borrowings | Total Oracle Corporation stockholders’ equity (deficit) | |
|---|---|---|---|---|
| May 31, 2026 | 41,764) | 218,703) | 129,541) | 42,508) |
| May 31, 2025 | 32,643) | 147,392) | 92,568) | 20,451) |
| May 31, 2024 | 31,544) | 131,737) | 86,869) | 8,704) |
| May 31, 2023 | 23,090) | 132,828) | 90,481) | 1,073) |
| May 31, 2022 | 19,511) | 115,065) | 75,859) | (6,220) |
| May 31, 2021 | 24,164) | 125,155) | 84,245) | 5,238) |
| May 31, 2020 | 17,200) | 102,721) | 71,597) | 12,074) |
| May 31, 2019 | 18,630) | 86,346) | 56,167) | 21,785) |
| May 31, 2018 | 19,195) | 91,040) | 60,619) | 45,726) |
| May 31, 2017 | 24,178) | 80,745) | 57,909) | 53,860) |
| May 31, 2016 | 17,208) | 64,390) | 43,855) | 47,289) |
| May 31, 2015 | 15,291) | 61,805) | 41,958) | 48,663) |
| May 31, 2014 | 14,389) | 42,897) | 24,175) | 46,878) |
| May 31, 2013 | 12,872) | 36,667) | 18,494) | 44,648) |
| May 31, 2012 | 15,388) | 34,240) | 16,474) | 43,688) |
| May 31, 2011 | 14,192) | 33,290) | 15,922) | 39,776) |
| May 31, 2010 | 14,691) | 30,379) | 14,655) | 30,798) |
| May 31, 2009 | 9,149) | 21,971) | 10,238) | 25,090) |
| May 31, 2008 | 10,029) | 24,243) | 11,236) | 23,025) |
| May 31, 2007 | 9,387) | 17,653) | 7,593) | 16,919) |
| May 31, 2006 | 6,930) | 14,017) | 5,894) | 15,012) |
| May 31, 2005 | 8,063) | 9,850) | 2,852) | 10,837) |
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).
An analysis of the balance sheet reveals a consistent and significant expansion of total liabilities over the observed period, transitioning from 9,850 million USD in 2005 to a projected 218,703 million USD by 2026. This growth is primarily driven by a substantial increase in long-term debt and borrowing, which has scaled in tandem with the overall liability profile.
- Liability Growth and Composition
- Total liabilities exhibited a steady upward trajectory for over a decade, with a notable acceleration starting around 2014. Notes payable and other borrowings represent the dominant component of this increase, rising from 2,852 million USD in 2005 to 129,541 million USD by 2026. The correlation between total liabilities and borrowed funds suggests a strategic reliance on debt financing to fund operations or acquisitions.
- Current Liability Trends
- Current liabilities remained relatively stable between 2005 and 2015, fluctuating between approximately 7,000 million USD and 15,000 million USD. However, a more pronounced increase is observed in the later years, with values climbing to 31,544 million USD in 2023 and reaching 41,764 million USD by 2026, indicating an increase in short-term financial obligations.
- Stockholders' Equity Volatility
- The equity position demonstrates a cyclical and highly volatile pattern. Equity grew steadily from 10,837 million USD in 2005 to a peak of 53,860 million USD in 2017. This was followed by a severe contraction, resulting in a stockholders' deficit of -6,220 million USD by 2022. This period of erosion indicates a phase where liabilities exceeded assets or significant capital was returned to shareholders. A subsequent recovery is evident, with equity returning to positive territory in 2023 and projecting a climb to 42,508 million USD by 2026.
- Solvency and Leverage Observations
- A critical shift in the company's leverage profile occurred between 2018 and 2022, as equity plummeted while total liabilities continued to rise. The emergence of a deficit in 2022 highlights a period of peak financial leverage. The projected recovery in equity toward 2026, coinciding with the highest recorded levels of total liabilities, suggests a complex restructuring of the capital base.
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Cash Flow Statement
Oracle Corp., selected items from cash flow statement, long-term trends
US$ in millions
| 12 months ended: | Net cash provided by operating activities | Net cash (used for) provided by investing activities | Net cash provided by (used for) financing activities |
|---|---|---|---|
| May 31, 2026 | 31,977) | (51,854) | 40,284) |
| May 31, 2025 | 20,821) | (21,711) | 1,098) |
| May 31, 2024 | 18,673) | (7,360) | (10,554) |
| May 31, 2023 | 17,165) | (36,484) | 7,910) |
| May 31, 2022 | 9,539) | 11,220) | (29,126) |
| May 31, 2021 | 15,887) | (13,098) | (10,378) |
| May 31, 2020 | 13,139) | 9,843) | (6,132) |
| May 31, 2019 | 14,551) | 26,557) | (42,056) |
| May 31, 2018 | 15,386) | (5,625) | (9,982) |
| May 31, 2017 | 14,126) | (21,494) | 9,086) |
| May 31, 2016 | 13,561) | (5,154) | (9,856) |
| May 31, 2015 | 14,336) | (19,047) | 9,850) |
| May 31, 2014 | 14,921) | (7,539) | (4,068) |
| May 31, 2013 | 14,224) | (5,956) | (8,500) |
| May 31, 2012 | 13,743) | (8,381) | (6,099) |
| May 31, 2011 | 11,214) | (6,081) | 516) |
| May 31, 2010 | 8,681) | (10,319) | 2,664) |
| May 31, 2009 | 8,255) | (2,599) | (4,422) |
| May 31, 2008 | 7,402) | (9,076) | 3,281) |
| May 31, 2007 | 5,520) | (4,971) | (1,139) |
| May 31, 2006 | 4,541) | (3,359) | 1,527) |
| May 31, 2005 | 3,552) | (5,753) | 1,884) |
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).
The cash flow profile exhibits a long-term trajectory of operational growth, characterized by a substantial increase in the ability to generate cash from core business activities over the observed period. This operational strength has provided the primary liquidity base to support periodic large-scale investing activities and a fluctuating financing strategy.
- Operating Cash Flow Trends
- A consistent upward trend in net cash provided by operating activities is observed from 2005 to 2014, where values grew from 3.55 billion USD to a peak of 14.92 billion USD. Following a period of relative stability between 2015 and 2021, a significant acceleration occurred in the latter years. Despite a sharp decline to 9.54 billion USD in 2022, operating cash flows recovered rapidly, reaching 31.98 billion USD by 2026, representing a nearly nine-fold increase from the 2005 baseline.
- Investing Activities and Capital Allocation
- Investing activities are predominantly characterized by net cash outflows, reflecting ongoing capital expenditures and acquisitions. Significant outflows were noted in 2015, 2017, and 2023, with the most substantial expenditure occurring in 2026 at 51.85 billion USD. Conversely, periods of positive cash flow from investing activities occurred in 2019, 2020, and 2022, suggesting episodes of divestiture or the liquidation of financial assets to bolster liquidity.
- Financing Strategy and Capital Structure
- Financing activities demonstrate high volatility, oscillating between significant debt issuance and aggressive capital returns or debt repayments. Major outflows were recorded in 2019 (42.06 billion USD) and 2022 (29.13 billion USD), indicating substantial shareholder distributions or debt retirement. This is contrasted by significant inflows in 2015, 2017, and 2026, the latter of which saw a 40.28 billion USD inflow, likely used to offset the massive investing outflows recorded in the same period.
- Integrated Cash Flow Dynamics
- The relationship between the three cash flow components indicates a strategic shift toward larger-scale capital deployment. In the most recent period, the simultaneous surge in operating cash inflows, massive investing outflows, and significant financing inflows suggests a period of aggressive expansion or strategic acquisition funded by a combination of internal cash generation and external borrowing.
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Per Share Data
Oracle Corp., selected data per share, long-term trends
US$
| 12 months ended: | Basic earnings per share 1 | Diluted earnings per share 2 | Dividend per share 3 |
|---|---|---|---|
| May 31, 2026 | 5.94 | 5.83 | 2.00 |
| May 31, 2025 | 4.46 | 4.34 | 1.70 |
| May 31, 2024 | 3.82 | 3.71 | 1.60 |
| May 31, 2023 | 3.15 | 3.07 | 1.36 |
| May 31, 2022 | 2.49 | 2.41 | 1.28 |
| May 31, 2021 | 4.67 | 4.55 | 1.04 |
| May 31, 2020 | 3.16 | 3.08 | 0.96 |
| May 31, 2019 | 3.05 | 2.97 | 0.81 |
| May 31, 2018 | 0.93 | 0.90 | 0.76 |
| May 31, 2017 | 2.27 | 2.21 | 0.64 |
| May 31, 2016 | 2.11 | 2.07 | 0.60 |
| May 31, 2015 | 2.26 | 2.21 | 0.51 |
| May 31, 2014 | 2.42 | 2.38 | 0.48 |
| May 31, 2013 | 2.29 | 2.26 | 0.30 |
| May 31, 2012 | 1.99 | 1.96 | 0.24 |
| May 31, 2011 | 1.69 | 1.67 | 0.21 |
| May 31, 2010 | 1.22 | 1.21 | 0.20 |
| May 31, 2009 | 1.10 | 1.09 | 0.05 |
| May 31, 2008 | 1.08 | 1.06 | 0.00 |
| May 31, 2007 | 0.83 | 0.81 | 0.00 |
| May 31, 2006 | 0.65 | 0.64 | 0.00 |
| May 31, 2005 | 0.56 | 0.55 | 0.00 |
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, 2, 3 Data adjusted for splits and stock dividends.
The financial trajectory from 2005 through 2026 reflects a long-term expansion in profitability and a disciplined approach to shareholder returns. Earnings per share have exhibited a general upward trend, despite periodic volatility, while dividends have maintained a consistent growth pattern since their inception.
- Earnings Per Share Performance
- Basic earnings per share grew steadily from 0.56 in 2005 to a peak of 2.42 in 2014. Following a period of relative stability between 2015 and 2017, a significant contraction occurred in 2018, where basic earnings dropped to 0.93. A robust recovery followed, with earnings climbing to 4.67 by 2021. After a dip to 2.49 in 2022, a sustained upward trend is observed, with projections reaching 5.94 by 2026.
- Dilution Impact
- Diluted earnings per share closely track the movements of basic earnings throughout the entire period. The narrow margin between basic and diluted figures suggests a limited impact from dilutive securities, maintaining a high level of alignment between the two metrics across two decades.
- Dividend Distribution Trends
- Dividend payments were initiated in 2009 at 0.05 per share. Since then, a pattern of uninterrupted annual increases has been established. The distribution grew incrementally through 2017, followed by a more aggressive acceleration in the later years, rising from 1.04 in 2021 to a projected 2.00 by 2026.
- Earnings and Dividend Correlation
- A divergence is noted between earnings volatility and dividend policy. While earnings per share experienced sharp declines in 2018 and 2022, dividend per share continued to increase without interruption. This indicates a strategic commitment to growing shareholder distributions regardless of short-term fluctuations in net income.
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