Enterprise Value (EV)
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Current Enterprise Value (EV)
Oracle Corp., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: 6.50% Series D Mandatory Convertible Preferred Stock, $0.01 par value and additional paid in capital (per books) | |
| Add: Noncontrolling interests (per books) | |
| Total equity | |
| Add: Notes payable and other borrowings, current (per books) | |
| Add: Finance lease liabilities, current (per books) | |
| Add: Notes payable and other borrowings, non-current (per books) | |
| Add: Finance lease liabilities, non-current (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Marketable securities | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2026-05-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
Oracle Corp., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Oracle Corp. Annual Report.
3 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
The financial trajectory from May 31, 2021, to May 31, 2026, is characterized by a period of significant expansion in valuation and capital structure, peaking in 2025 before experiencing a contraction in 2026. The Enterprise Value (EV) demonstrates a strong positive correlation with the market value of common equity, suggesting that equity fluctuations are the primary driver of the overall corporate valuation.
- Enterprise Value Trends
- Enterprise Value exhibited a decline between 2021 and 2022, falling from 256,153 million to 234,771 million. This was followed by a period of aggressive growth over three consecutive years, reaching a peak of 677,116 million by May 31, 2025. This represents an approximate 188% increase from the 2022 trough. A subsequent correction occurred by May 31, 2026, where the EV decreased to 615,134 million.
- Equity Valuation and Alignment
- A consistent alignment is observed between common equity market value and total equity. Throughout the observed period, the variance between these two metrics remained minimal, indicating that the market valuation of the company closely mirrored its book value. Market equity grew from 217,748 million in 2021 to a peak of 592,299 million in 2025, mirroring the trajectory of the total Enterprise Value.
- Capital Structure and Debt Dynamics
- Total equity and debt followed the same upward trend as the Enterprise Value until 2025, peaking at 688,319 million. Analysis of the relationship between total equity and debt reveals that debt levels remained relatively stable as a proportion of the capital structure from 2021 through 2025. However, in 2026, while common equity market value and total equity decreased, the gap between total equity and total equity and debt widened, indicating a relative increase in debt levels during the period of valuation contraction.
- Comparative Growth Analysis
- The most significant growth phase occurred between May 31, 2022, and May 31, 2023, where Enterprise Value increased by approximately 75% in a single year. This surge was mirrored by a similar increase in both common equity market value and total equity, suggesting that the valuation spike was driven by equity appreciation rather than an increase in leverage.