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Oracle (ORCL) FY2026 results: revenue $67.4 billion, up 17.3% on the year

Oracle Corp. (ORCL) reported revenue of $67.4 billion for fiscal 2026, the year ended 31 May 2026, up 17.3% on the year before. Net income was $17.1 billion, up 37.3%, and diluted earnings per share $5.83. The figures are the company's own, from the 10-K it filed with the SEC on 22 June 2026.

Revenue
$67.4 billion
+17.3% on the year
FY2019FY2026
Operating margin
30.6%
30.8% a year earlier
FY2019FY2026
Net income
$17.1 billion
+37.3% on the year
FY2019FY2026
Diluted EPS
$5.83
+34.3% on the year
FY2019FY2026

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

Guidance figures: 1 raised, 6 new, 1 kept.

  • Revenue rose 21% in quarter: Total revenues were $19.2 billion, up 21% in USD and 20% in constant currency, with the company citing broad-based demand.
  • Non-GAAP EPS was $2.11: Non-GAAP EPS was $2.11, up 24%; GAAP diluted EPS was $1.45, up 21%. Excluding one-time investment gains, non-GAAP EPS was $2.03, up 20% in USD.
  • Operating income rose on efficiency actions: GAAP operating income was $6.1 billion, up 20%; non-GAAP operating income was $8.6 billion, up 22%, with operating efficiency actions cited.
  • RPO growth came from AI contracts: Most of the RPO increase in Q3 and Q4 came from large AI contracts. Customers either prepaid Oracle for GPUs or bought and supplied the GPUs themselves.
  • Operating cash flow reached $32.0 billion: Operating cash flow for FY2026 was $32.0 billion, up 54%.
Read the Q4 FY2026 earnings call summary

From this 10-K

Oracle provides products and services that build, run and support enterprise information technology frameworks, spanning enterprise applications and infrastructure. The offerings are delivered through cloud-based, on-premise and hybrid deployments, including Oracle Exadata Cloud@Customer and multicloud options that let a customer use Oracle cloud offerings alongside other public clouds. There are three businesses, each a single operating segment: cloud and software, formerly referred to as cloud and license; hardware; and services. The customer base is businesses of various sizes and industries, government agencies, educational institutions and resellers, reached directly through the worldwide sales force or indirectly through the Oracle Partner Network.

Oracle Corp., the 10-K for 2026

Oracle provides products and services that build, run and support enterprise information technology frameworks, spanning enterprise applications and infrastructure. The offerings are delivered through cloud-based, on-premise and hybrid deployments, including Oracle Exadata Cloud@Customer and multicloud options that let a customer use Oracle cloud offerings alongside other public clouds. There are three businesses, each a single operating segment: cloud and software, formerly referred to as cloud and license; hardware; and services. The customer base is businesses of various sizes and industries, government agencies, educational institutions and resellers, reached directly through the worldwide sales force or indirectly through the Oracle Partner Network.

The two halves of the cloud

Oracle Cloud Applications is the software half, a suite of modular cloud software applications spanning core business functions, bought under a subscription agreement for a stated period and running on Oracle Cloud Infrastructure. The named suites are Oracle Fusion Cloud Enterprise Resource Planning, which takes in Enterprise Performance Management and Supply Chain and Manufacturing Management and covers finance and accounting, project and risk management and back-office and manufacturing operations; Oracle Fusion Cloud Human Capital Management, for finding, developing and retaining talent and for workforce insight; and Oracle Fusion Cloud Customer Experience, for delivering customer experiences across a company's customer channels.

Oracle Cloud Infrastructure delivers compute, storage, networking and cloud-native services along with AI Infrastructure, generative AI and agentic AI. It carries the Oracle Autonomous AI Database offerings, which Oracle runs, manages, upgrades and supports on the customer's behalf, plus a portfolio of specialised databases including MySQL as a cloud service through Oracle MySQL HeatWave. Customers use it to build and operate new applications, to run new workloads, and to move existing Oracle or non-Oracle workloads across from their own data centres or other cloud environments. The company states that OCI separates cloud control code computers from customer compute nodes, which it describes as providing better security than other cloud vendors.

Oracle Autonomous AI Database combines the Oracle AI Database, OCI, Oracle Exadata and native machine learning capabilities. It is designed to automate routine database administration including maintenance, tuning, patching, scaling, security and backup, with on-demand automatic scaling of database resources and consumption-based pricing, and it includes Oracle APEX low-code application development.

Licences and hardware

Oracle also sells software licences, covering Oracle Applications, the Oracle AI Database and Oracle Middleware among others, which customers deploy either on Oracle Cloud or in their own IT environments. Hardware products include Oracle Engineered Systems, servers, storage and industry-specific products. Engineered Systems are pre-built products combining Oracle database, storage, operating system, virtualisation and management software with server, storage and networking hardware, and Oracle Exadata Database Machine and its cloud-based analogues are the example the filing gives. Most hardware products are made by third-party manufacturing partners and distributed from those partners' facilities, with manufacturing processes substantially based on standardising components across product types.

Support and services

Substantially all customers opt to purchase a software support contract when they buy an Oracle software licence, and substantially all of those support customers renew on expiry, which entitles them to technical support services and to unspecified updates and enhancements over the support period. Hardware support provides unspecified software updates for components essential to the hardware, such as Oracle operating systems and firmware, and can also include product repairs, maintenance and technical support. Separately, Oracle sells consulting services to help customers and global system integrator partners architect and deploy the cloud and software offerings, covering IT strategy alignment and enterprise architecture among other work.

The data centres

Oracle Cloud Operations delivers the cloud offerings from a global network of data centres managed by Oracle employees, giving each customer secure and isolated cloud-based instances reachable from a broad spectrum of devices, and using automated software tools to push new capability out as it becomes available. The company has invested in rapid expansion of the Oracle Cloud by increasing existing data centre capacity and adding data centres in new geographic locations to meet current and expected customer demand, and it states that it expects this trend to continue.

From Oracle's annual report on Form 10-K for the year ended 31 May 2026. The filing

Written from the 10-K filed 22 June 2026: read the full 10-K.

The four quarters: Q1 FY2026 · Q2 FY2026 · Q3 FY2026 · Q4 FY2026

Income statement (profit and loss)

$ millionFY2026FY2025FY2024On the yearLast 8 years
Revenue67,35757,39952,961+17.3%
Research and development10,2729,8608,915+4.2%
Operating income20,60617,67815,353+16.6%
Operating margin30.6%30.8%29.0%
Interest expense4,5993,5783,514+28.5%
Income tax2,4671,7171,274+43.7%
Net income17,08712,44310,467+37.3%
Net margin25.4%21.7%19.8%
Diluted EPS$5.83$4.34$3.71+34.3%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2026FY2025FY2024On the yearLast 8 years
Operating cash flow31,97720,82118,673+53.6%
Capital expenditure55,66321,2156,866+162.4%
Free cash flow-23,686-39411,807
Free cash flow margin-35.2%-0.7%22.3%
Cash from investing-51,854-21,711-7,360
Cash from financing40,2841,098-10,554+3,568.9%
Depreciation and amortisation9,2946,1746,139+50.5%
Share-based compensation4,8114,6743,974+2.9%
Buybacks95.06001,202-84.2%
Dividends paid5,7874,7434,391+22.0%
Dividend per share$2.00$1.70$1.60+17.6%
Diluted shares, weighted2,914m2,866m2,823m+1.7%
Shares outstanding at period end2,880m2,807m2,755m+2.6%

Balance sheet

$ millionFY2026FY2025FY2024On the yearLast 8 years
Shareholders' equity42,50820,4518,704+107.9%
Non-controlling interest548518535+5.8%
Debt129,54192,56886,869+39.9%
Operating lease liabilities26,64811,5366,255+131.0%
Finance lease liabilities7,0812,677n/a+164.5%
Other liabilities55,43340,61138,613+36.5%
Total liabilities and equity261,759168,361140,976+55.5%
Fixed assets99,95743,52221,536+129.7%
Goodwill62,26162,20762,230+0.1%
Intangible assets3,2294,5876,890-29.6%
Investments605417207+45.1%
Cash and equivalents31,28910,78610,454+190.1%
Receivables10,3858,5587,874+21.3%
Inventoryn/a303334
Other assets54,03337,98131,451+42.3%
Total assets261,759168,361140,976+55.5%

10-K for the year ended 31 May 2026, filed 22 June 2026: the filing.