XStocksXray

Research report · 16 October 2026

Oracle Corp (ORCL)

Information Technology · Application Software · US stock · price as of 16 Oct 2026

Key indicators

Price	$128.23
52-week range	$114.08 – $318.28
Market cap	$384.7B
P/E (trailing)	20.0×
EV / EBITDA	15.4×
Free-cash-flow yield	−7.5%
Dividend yield	1.6%
Revenue (last 12 months)	$71.8B
Revenue growth (3y a year)	10.5%
Operating margin	32.1%
Return on invested capital	25.3%
Net debt / EBITDA	0.2×

Fair value

Blended fair value$186.48 range $172 – $200

Versus priceUndervalued+45% to fair value

Peer multiples	$215.45
Fundamentals-adjusted multiple	$160.56
10-year DCF (market-scaled)	$183.42
Earnings power value (floor, not blended)	$50.69
Model uncertainty	Medium

X-Ray Score

59/ 100 · Medium confidence · ahead of 73% of sector peers

Valuation59

Growth68

Profitability69

Financial health27

Dividends75

Five-year price chart navy: price · brown: 200-day average · blue band: fair value range

Executive summary

Oracle sells database software, cloud infrastructure and business applications used by large organizations for finance, human resources, supply chain and customer management. It also runs a cloud platform that hosts customer workloads, including artificial intelligence training. The company earns money from cloud subscriptions, software licence support, licence sales and services, with support and cloud contracts forming the largest recurring parts. It also has a healthcare software business.

Sales came to $71.8 billion in the last twelve months, having expanded at 10.5% a year across the last three years. Its operating margin came to 32.1%, and return on invested capital was 25%. Net debt stands at 0.2 times EBITDA. The company pays a dividend, yielding 1.6%.

StocksXray gives Oracle Corp an X-Ray Score of 59 out of 100 (medium confidence), ahead of 73% of the S&P 500 stocks in its sector. Its strongest lens is dividends (75) and its weakest is financial health (27).

Our fair value blend is $186.48 (range $171.68 to $199.94). At $128.23 the stock trades 31% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.

XStocksXray

Oracle Corp (ORCL)

Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months

	FY2022	FY2023	FY2024	FY2025	FY2026	Now
Price	$67.72	$101.52	$113.91	$162.72	$224.17	$128.23
Market cap	$188.7B	$280.8B	$321.6B	$466.4B	$653.2B	$384.7B
P/E	28.1×	33.1×	30.7×	37.5×	38.5×	20.0×
EV / revenue	4.1×	7.3×	7.7×	9.7×	11.3×	5.0×
EV / EBITDA	16.0×	27.9×	26.6×	31.4×	36.8×	15.4×
Price / free cash flow	37.5×	33.2×	27.2×	–	–	–
Free-cash-flow yield	2.7%	3.0%	3.7%	−0.1%	−3.6%	−7.5%
Price / book	–	261.7×	36.9×	22.8×	15.4×	5.8×
Dividend yield	1.89%	1.34%	1.40%	1.04%	0.89%	1.56%

Fundamentals checklist ● 6 Good · ● 3 Average · ● 5 Bad · each check graded against the sector

Cash quality

Earnings backed by cash−9.3%Good

Free-cash-flow yield−7.5%Bad

Risk models

Altman Z score1.0×Bad

Piotroski F-Score5 of 9Bad

Growth

EPS growth (3y)23.8%Good

Revenue growth (3y)10.5%Average

Growth consistency100%Good

Balance sheet

Current ratio1.2×Bad

Net debt / EBITDA0.2×Average

Interest cover4.5×Bad

Valuation

Fair value vs price1.5×Good

EBIT / EV yield5.9%Good

Profitability

Return on invested capital25.3%Average

Operating margin32.1%Good

XStocksXray

Oracle Corp (ORCL)

Financials US$ millions, from SEC filings; last column is the last twelve months

Income statement	FY22	FY23	FY24	FY25	FY26	LTM
Revenue	42,440	49,954	52,961	57,399	67,357	71,777
Gross profit	–	–	–	–	–	–
Operating income	10,926	13,093	15,353	17,678	20,606	23,056
Net income	6,717	8,503	10,467	12,443	16,984	18,817
Diluted EPS ($)	2.41	3.07	3.71	4.34	5.83	6.41
Free cash flow	5,028	8,470	11,807	-394	-23,686	-28,720
Gross margin	–	–	–	–	–	–
Operating margin	25.7%	26.2%	29.0%	30.8%	30.6%	32.1%
Net margin	15.8%	17.0%	19.8%	21.7%	25.2%	26.2%
Balance sheet	FY22	FY23	FY24	FY25	FY26	LTM
Total assets	109,297	134,384	140,976	168,361	261,759	303,259
Cash	21,383	9,765	10,454	10,786	31,289	36,369
Total debt	7,498	94,542	97,474	99,839	136,740	7,625
Equity	-6,220	1,073	8,704	20,451	42,508	66,772
Dividend per share ($)	1.28	1.36	1.60	1.70	2.00	2.00

Revenue and net income US$ billions: navy revenue, teal net income

Margins blue gross, teal operating, brown net

Latest quarters

	May 2025	Aug 2025	Nov 2025	Feb 2026	May 2026	Aug 2026
Revenue ($M)	15,903	14,926	16,058	17,190	19,184	19,345
Growth vs a year earlier	+11.3%	+12.2%	+14.2%	+21.7%	+20.6%	+29.6%
Net income ($M)	3,427	2,927	6,135	3,721	4,201	4,760
Diluted EPS ($)	–	1.01	2.10	1.27	–	1.56

XStocksXray

Oracle Corp (ORCL)

Peers in Application Software

Company	X-Ray
ORCL · Oracle Corp	59
ADBE · Adobe Inc.	77
INTU · Intuit Inc.	72
FICO · Fair Isaac Corp	70
ADSK · Autodesk, Inc.	67

Market Compass outlook for Information Technology: Favourable (75/100). It blends regime history, macro sensitivity, momentum and valuation.

Returns

1 week	−9.3%
1 month	−14.5%
3 months	+6.0%
6 months	−26.2%
1 year	−57.2%
3 years	+21.2%
5 years	+45.4%

Technical summary

DailyStrongly bearish3 bullish · 1 neutral · 12 bearish

WeeklyStrongly bearish1 bullish · 1 neutral · 10 bearish

MonthlyStrongly bearish0 bullish · 1 neutral · 7 bearish

50-day / 200-day average	$144.64 / $159.03
52-week low / high	$114.08 / $318.28
Classic pivot, support and resistance	S2 123.36 · S1 125.79 · P – · R1 132.23 · R2 136.24

Recent dividends

Ex-dividend date	Amount per share
9 Oct 2026	$0.5000
10 Jul 2026	$0.5000
9 Apr 2026	$0.5000
9 Jan 2026	$0.5000
9 Oct 2025	$0.5000
10 Jul 2025	$0.5000

XStocksXray

Oracle Corp (ORCL)

Strengths

Operating margin of 32.1% is ahead of 71% of its sector peers.
Has raised its dividend for 7 years in a row.

Risks and weak spots

Free-cash-flow yield is weak against Information Technology peers (−7.5%).
Altman Z score is weak against Information Technology peers (1.0×).
Piotroski F-Score is weak against Information Technology peers (5 of 9).
Current ratio is weak against Information Technology peers (1.2×).
Interest cover is weak against Information Technology peers (4.5×).
The Altman Z score of 1.0× is in the distress zone.

Latest SEC filings

Date	Form	Items
25 Sep 2026	DEF 14A
14 Sep 2026	8-K	8.01,9.01
11 Sep 2026	10-Q
10 Sep 2026	8-K	2.02,8.01,9.01
23 Jun 2026	424B5
22 Jun 2026	10-K
10 Jun 2026	8-K	2.02,8.01,9.01
12 May 2026	8-K	5.02,7.01,9.01

How to read this report

Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.