ORACLE CORP
ORCL, ORCL-PD · Services-Prepackaged Software · 2.88B shares · -4%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$2.8B (gross $1.2B, SBC $4.0B)
Reference price $156.06 · est. market cap ~$449.5B — last insider sale, 2026-06-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B72Cloud/database giant with elite margins and growth, but enormous AI-capex burn this year drove deeply negative free cash flow.
Strengths
- Elite margins and returns — operating margin 30.6% (93rd), ROE 40.2% (88th), net margin 25.4%
- Strong growth and operating cash flow — revenue +17.3%, OCF margin 47.5% (97th)
- Durable database/cloud (OCI) franchise — per 10-K
Risks
- Massive negative free cash flow — FCF -$23.69B (0th), FCF margin -35.2% — record AI/data-center capex
- Rising debt to fund the buildout — per 10-K
- Execution risk on contracted cloud capacity (e.g. large AI commitments) — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, RENAISSANCE TECHNOLOGIES LLC
- Cash burnNegative free cash flow (-23686.0M)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~87% of revenue from one customer/distributor — Cloud and Software Business Our cloud and software business, which represented 87% and 86% of our total revenues in fiscal 2026 and 2025, respectively, markets, sells and delivers a broad spectrum o
- Buying back stockNet buyback — share count -4%/yr over 4y
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, FMR LLC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 14 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$75M, last 6mo) Form 4 ↗
- China exposure• Our international sales and operations and global customer base subject us to additional risks, including trade restrictions, export controls and sanctions, that can adversely affect our operating r
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
30.6%
Net margin
25.4%
Return on equity
40.2%
Return on assets
6.5%
ROIC
32.7%
Revenue growth (QoQ)
11.6%
Net-income growth
37.3%
Debt / equity
0.2×
Interest coverage
4.5×
Current ratio
1.1×
Free cash flow
-$23.7B
Tangible book value
-$23.0B
Cash & investments
$31.9B
Cash runway
5q
Stock comp / revenue
7.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-24 | HENLEY JEFFREY | Sell | 17K | $159.07 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 46K | $157.89 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 48K | $160.86 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 17K | $162.18 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 15K | $163.00 |
| 2026-06-24 | HENLEY JEFFREY | Option exercise | 400K | $40.93 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 79K | $157.02 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 75K | $156.06 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 800 | $165.57 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 14K | $164.91 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 27K | $164.00 |
| 2026-06-24 | HENLEY JEFFREY | Sell | 63K | $160.08 |
| 2026-05-31 | BOSKIN MICHAEL J | Option exercise | 2.1K | — |
| 2026-05-31 | Fairhead Rona Alison | Tax withheld | 58 | $225.78 |
| 2026-05-31 | Fairhead Rona Alison | Option exercise | 2.1K | — |
| 2026-05-31 | Ablo Awo | Option exercise | 2.1K | — |
| 2026-05-31 | Ablo Awo | Tax withheld | 80 | $225.78 |
| 2026-05-31 | BERG JEFFREY | Option exercise | 2.1K | — |
| 2026-05-31 | MOORMAN CHARLES W | Option exercise | 2.1K | — |
| 2026-05-31 | CHIZEN BRUCE R | Option exercise | 2.1K | — |
| 2026-04-16 | HENLEY JEFFREY | Other | 745K | — |
| 2026-04-16 | HENLEY JEFFREY | Other | 745K | — |
| 2026-04-16 | Levey Stuart | Sell | 15K | $176.19 |
| 2026-03-30 | HENLEY JEFFREY | Other | 128K | — |
| 2026-03-30 | HENLEY JEFFREY | Other | 128K | — |
| 2026-03-30 | HENLEY JEFFREY | Gift | 17K | — |
| 2026-02-09 | Magouyrk Clayton M. | Sell | 10K | $155.23 |
| 2026-01-15 | KEHRING DOUGLAS A | Sell | 35K | $194.89 |
| 2025-12-24 | Hura Mark | Sell | 15K | $196.89 |
| 2025-12-23 | HENLEY JEFFREY | Other | 199K | — |
| 2025-12-23 | SELIGMAN NAOMI O | Sell | 2.2K | $196.61 |
| 2025-12-22 | Hura Mark | Gift | 5.0K | — |
| 2025-12-19 | Magouyrk Clayton M. | Sell | 10K | $192.52 |
| 2025-12-05 | Smith Maria | Tax withheld | 5.7K | $214.33 |
| 2025-12-05 | Smith Maria | Option exercise | 11K | — |
| 2025-10-28 | BERG JEFFREY | Sell | 23K | $283.63 |
| 2025-10-28 | BERG JEFFREY | Sell | 4.2K | $284.31 |
| 2025-10-28 | BERG JEFFREY | Sell | 9.0K | $281.58 |
| 2025-10-28 | BERG JEFFREY | Sell | 13K | $282.56 |
| 2025-10-23 | Smith Maria | Sell | 5.0K | $280.62 |
| 2025-10-21 | Smith Maria | Sell | 5.0K | $280.00 |
| 2025-10-21 | Magouyrk Clayton M. | Sell | 40K | $276.64 |
| 2025-10-10 | Levey Stuart | Sell | 20K | $300.00 |
| 2025-09-26 | SELIGMAN NAOMI O | Sell | 2.2K | $288.91 |
| 2025-09-26 | SELIGMAN NAOMI O | Gift | 1.4K | — |
| 2025-09-23 | Sicilia Michael D. | Sell | 34K | $321.16 |
| 2025-09-22 | HENLEY JEFFREY | Tax withheld | 14K | $308.66 |
| 2025-09-22 | Smith Maria | Tax withheld | 2.9K | $308.66 |
| 2025-09-22 | Magouyrk Clayton M. | Tax withheld | 35K | $308.66 |
| 2025-09-22 | Sicilia Michael D. | Tax withheld | 35K | $308.66 |
| 2025-09-20 | HENLEY JEFFREY | Option exercise | 33K | — |
| 2025-09-20 | Smith Maria | Option exercise | 5.5K | — |
| 2025-09-20 | Sicilia Michael D. | Option exercise | 73K | — |
| 2025-09-20 | Magouyrk Clayton M. | Option exercise | 88K | — |
| 2025-09-19 | Smith Maria | Option exercise | 12K | — |
| 2025-09-19 | Sicilia Michael D. | Option exercise | 36K | — |
| 2025-09-19 | Sicilia Michael D. | Tax withheld | 17K | $296.62 |
| 2025-09-19 | HENLEY JEFFREY | Option exercise | 13K | — |
| 2025-09-19 | HENLEY JEFFREY | Tax withheld | 5.9K | $296.62 |
| 2025-09-19 | Smith Maria | Tax withheld | 6.2K | $296.62 |
| 2025-09-19 | Magouyrk Clayton M. | Option exercise | 42K | — |
| 2025-09-19 | Magouyrk Clayton M. | Tax withheld | 16K | $296.62 |
| 2025-09-19 | Levey Stuart | Option exercise | 21K | — |
| 2025-09-19 | Levey Stuart | Tax withheld | 10K | $296.62 |
| 2025-09-16 | Sicilia Michael D. | Sell | 16K | $313.60 |
| 2025-09-15 | Magouyrk Clayton M. | Tax withheld | 24K | $292.18 |
| 2025-09-15 | Magouyrk Clayton M. | Option exercise | 61K | — |
| 2025-09-15 | HENLEY JEFFREY | Tax withheld | 8.6K | $292.18 |
| 2025-09-15 | HENLEY JEFFREY | Option exercise | 20K | — |
| 2025-09-15 | Levey Stuart | Tax withheld | 12K | $292.18 |
| 2025-09-15 | Levey Stuart | Option exercise | 26K | — |
| 2025-09-15 | Sicilia Michael D. | Tax withheld | 25K | $292.18 |
| 2025-09-15 | Sicilia Michael D. | Option exercise | 53K | — |
| 2025-09-15 | Smith Maria | Tax withheld | 6.9K | $292.18 |
| 2025-09-15 | Smith Maria | Option exercise | 13K | — |
| 2025-09-12 | Magouyrk Clayton M. | Sell | 21K | $297.11 |
| 2025-09-12 | Parrett William G | Sell | 12K | $306.00 |
| 2025-08-05 | Sicilia Michael D. | Sell | 16K | $254.48 |
| 2025-08-04 | HENLEY JEFFREY | Tax withheld | 11K | $244.42 |
| 2025-08-04 | Magouyrk Clayton M. | Option exercise | 62K | — |
| 2025-08-04 | Magouyrk Clayton M. | Tax withheld | 24K | $244.42 |
| 2025-08-04 | Sicilia Michael D. | Grant | 183 | $241.21 |
| 2025-08-04 | Sicilia Michael D. | Option exercise | 50K | — |
| 2025-08-04 | Sicilia Michael D. | Tax withheld | 24K | $244.42 |
| 2025-08-04 | Smith Maria | Option exercise | 3.4K | — |
| 2025-08-04 | Smith Maria | Tax withheld | 1.8K | $244.42 |
| 2025-08-04 | HENLEY JEFFREY | Option exercise | 25K | — |
| 2025-07-16 | SELIGMAN NAOMI O | Sell | 3.3K | $233.32 |
| 2025-07-15 | ELLISON LAWRENCE JOSEPH | Option exercise | 1.5M | $51.13 |
| 2025-07-15 | ELLISON LAWRENCE JOSEPH | Option exercise | 5.0M | $51.13 |
| 2025-07-09 | ELLISON LAWRENCE JOSEPH | Option exercise | 1.0M | $51.13 |
| 2025-07-09 | ELLISON LAWRENCE JOSEPH | Option exercise | 2.5M | $51.13 |
| 2025-07-09 | ELLISON LAWRENCE JOSEPH | Option exercise | 2.5M | $51.13 |
| 2025-07-07 | Fairhead Rona Alison | Buy | 480 | $233.87 |
| 2025-07-03 | Smith Maria | Sell | 10K | $232.99 |
| 2025-06-27 | CATZ SAFRA | Sell | 330K | $213.64 |
| 2025-06-27 | CATZ SAFRA | Option exercise | 1.3M | $51.13 |
| 2025-06-27 | CATZ SAFRA | Sell | 492K | $210.35 |
| 2025-06-27 | CATZ SAFRA | Sell | 181K | $211.32 |
| 2025-06-27 | CATZ SAFRA | Sell | 114K | $212.75 |
| 2025-06-27 | CATZ SAFRA | Sell | 144K | $214.25 |
| 2025-06-26 | CATZ SAFRA | Sell | 899K | $212.90 |
| 2025-06-26 | CATZ SAFRA | Sell | 479K | $213.64 |
| 2025-06-26 | CATZ SAFRA | Option exercise | 1.9M | $51.13 |
| 2025-06-26 | CATZ SAFRA | Sell | 243K | $210.93 |
| 2025-06-26 | CATZ SAFRA | Sell | 244K | $211.96 |
| 2025-06-25 | CATZ SAFRA | Sell | 23K | $215.44 |
| 2025-06-25 | CATZ SAFRA | Sell | 100 | $216.81 |
| 2025-06-25 | CATZ SAFRA | Sell | 706K | $210.64 |
| 2025-06-25 | CATZ SAFRA | Option exercise | 1.9M | $51.13 |
| 2025-06-25 | CATZ SAFRA | Sell | 265K | $211.84 |
| 2025-06-25 | CATZ SAFRA | Sell | 308K | $212.69 |
| 2025-06-25 | CATZ SAFRA | Sell | 308K | $213.77 |
| 2025-06-25 | CATZ SAFRA | Sell | 263K | $214.67 |
| 2025-06-23 | CATZ SAFRA | Sell | 206K | $206.12 |
| 2025-06-23 | HENLEY JEFFREY | Gift | 147K | — |
| 2025-06-23 | CATZ SAFRA | Option exercise | 216K | $51.13 |
| 2025-06-23 | CATZ SAFRA | Option exercise | 1.2M | $51.13 |
| 2025-06-23 | CATZ SAFRA | Sell | 47K | $203.36 |
| 2025-06-23 | CATZ SAFRA | Sell | 168K | $204.19 |
| 2025-06-23 | CATZ SAFRA | Sell | 191K | $204.19 |
| 2025-06-23 | CATZ SAFRA | Sell | 482K | $205.26 |
| 2025-06-23 | CATZ SAFRA | Sell | 315K | $207.02 |
| 2025-06-20 | CATZ SAFRA | Option exercise | 2.3M | $51.13 |
| 2025-06-20 | CATZ SAFRA | Sell | 407K | $204.95 |
| 2025-06-20 | CATZ SAFRA | Sell | 252K | $206.21 |
| 2025-06-20 | CATZ SAFRA | Sell | 461K | $207.24 |
| 2025-06-20 | CATZ SAFRA | Sell | 484K | $208.12 |
| 2025-06-20 | CATZ SAFRA | Sell | 526K | $209.02 |
| 2025-06-20 | CATZ SAFRA | Sell | 27K | $210.14 |
| 2025-06-20 | CATZ SAFRA | Sell | 59K | $211.21 |
| 2025-06-20 | CATZ SAFRA | Sell | 55K | $211.87 |
| 2025-06-20 | CATZ SAFRA | Sell | 13K | $213.19 |
| 2025-06-17 | CONRADES GEORGE H | Sell | 8.2K | $213.49 |
| 2025-06-17 | Magouyrk Clayton M. | Sell | 15K | $214.10 |
| 2025-06-12 | HENLEY JEFFREY | Option exercise | 400K | $40.36 |
| 2025-06-12 | HENLEY JEFFREY | Sell | 9.7K | $191.00 |
| 2025-06-12 | HENLEY JEFFREY | Sell | 390K | $190.41 |
| 2025-05-31 | BERG JEFFREY | Option exercise | 3.0K | — |
| 2025-05-31 | Parrett William G | Option exercise | 3.0K | — |
| 2025-05-31 | CHIZEN BRUCE R | Option exercise | 3.0K | — |
| 2025-05-31 | SELIGMAN NAOMI O | Option exercise | 3.0K | — |
| 2025-05-31 | PANETTA LEON E | Option exercise | 3.0K | — |
| 2025-05-31 | MOORMAN CHARLES W | Option exercise | 3.0K | — |
| 2025-05-31 | Fairhead Rona Alison | Option exercise | 3.0K | — |
| 2025-05-31 | Fairhead Rona Alison | Tax withheld | 78 | $165.53 |
| 2025-05-31 | CONRADES GEORGE H | Option exercise | 3.0K | — |
| 2025-05-31 | BOSKIN MICHAEL J | Option exercise | 3.0K | — |
| 2025-05-31 | Ablo Awo | Option exercise | 3.0K | — |
| 2025-05-31 | Ablo Awo | Tax withheld | 112 | $165.53 |
| 2025-05-14 | BERG JEFFREY | Gift | 12K | — |
| 2025-05-05 | SELIGMAN NAOMI O | Sell | 2.9K | $149.53 |
| 2025-05-02 | PANETTA LEON E | Option exercise | 18K | $43.49 |
| 2025-05-02 | PANETTA LEON E | Sell | 18K | $151.24 |
| 2025-04-21 | CONRADES GEORGE H | Option exercise | 22K | $43.49 |
| 2025-04-16 | HENLEY JEFFREY | Gift | 199K | — |
| 2025-04-11 | PANETTA LEON E | Option exercise | 5.0K | $43.49 |
| 2025-04-11 | PANETTA LEON E | Sell | 5.0K | $129.77 |
| 2025-04-02 | SELIGMAN NAOMI O | Sell | 2.0K | $145.81 |
| 2025-02-12 | MOORMAN CHARLES W | Buy | 5.5K | $172.35 |
| 2025-01-24 | CATZ SAFRA | Sell | 2.0K | $188.15 |
| 2025-01-24 | CATZ SAFRA | Option exercise | 345K | $51.13 |
| 2025-01-24 | CATZ SAFRA | Sell | 252K | $185.12 |
| 2025-01-24 | CATZ SAFRA | Sell | 65K | $186.47 |
| 2025-01-24 | CATZ SAFRA | Sell | 26K | $187.38 |
| 2025-01-23 | CATZ SAFRA | Option exercise | 399K | $51.13 |
| 2025-01-23 | CATZ SAFRA | Sell | 167K | $186.15 |
| 2025-01-23 | CATZ SAFRA | Sell | 1.2M | $185.33 |
| 2025-01-23 | CATZ SAFRA | Option exercise | 960K | $51.13 |
| 2025-01-22 | CATZ SAFRA | Sell | 6.4K | $189.71 |
| 2025-01-22 | CATZ SAFRA | Option exercise | 2.1M | $51.13 |
| 2025-01-22 | CATZ SAFRA | Sell | 700 | $187.60 |
| 2025-01-22 | CATZ SAFRA | Sell | 2.0M | $185.29 |
| 2025-01-22 | CATZ SAFRA | Sell | 50K | $186.33 |
| 2025-01-22 | CATZ SAFRA | Sell | 11K | $190.10 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (2)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-10 | ResultsOtherExhibits | filing ↗ |
| 2026-05-12 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-04-06 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-03-10 | ResultsOtherExhibits | filing ↗ |
| 2026-02-05 | Material agreement3.035.03Exhibits | filing ↗ |
| 2026-02-04 | Material agreementOtherExhibits | filing ↗ |
| 2026-01-09 | Exec/director change | filing ↗ |
| 2025-12-10 | ResultsOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-K | 2026-06-22 | 2026-05-31 | 0001193125-26-277521 ↗ |
| 8-K | 2026-06-10 | 2026-06-10 | 0001193125-26-265848 ↗ |
| 8-K | 2026-05-12 | 2026-05-06 | 0001193125-26-219708 ↗ |
| 8-K | 2026-04-06 | 2026-04-01 | 0001193125-26-142939 ↗ |
| 10-Q | 2026-03-11 | 2026-02-28 | 0001193125-26-101045 ↗ |
| 8-K | 2026-03-10 | 2026-03-10 | 0001193125-26-100148 ↗ |
| 8-K | 2026-02-05 | 2026-02-02 | 0001193125-26-039344 ↗ |
| 8-K | 2026-02-04 | 2026-02-02 | 0001193125-26-037840 ↗ |
| 8-K | 2026-01-09 | 2026-01-05 | 0001193125-26-009002 ↗ |
| 10-Q | 2025-12-11 | 2025-11-30 | 0001193125-25-315925 ↗ |
| 8-K | 2025-12-10 | 2025-12-10 | 0001193125-25-314207 ↗ |
| 8-K | 2025-11-21 | 2025-11-18 | 0001193125-25-291441 ↗ |