Oracle Corporation (ORCL) Cash Flow Statement
Where ORCL’s cash came from and went, FY2026
May 31, 2026 · U.S. dollars- Cash from operations
- $31.98B +53.6% vs FY2025
- Capital expenditures
- $55.66B 82.6% of revenue
- Free cash flow
- −$23.69B −35.2% margin
- Returned to shareholders
- $5.99B
- Change in cash
- $20.50B cash at year-end $31.29B
Cash from operations
$31.98B
Capital expenditures
−$55.66B
Investments (net)
+$3.81B
Dividends
−$5.79B
Share buybacks (net)
−$206.0M
Net borrowing (repayment)
+$40.21B
Shares issued
+$6.40B
Other financing
−$337.0M
Change in cash
$20.50B
Drawn to scale: where the cash came from and how it was used. Hover for values.
ORCL operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
ORCL cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $14.13BFY2017 | $31.98BFY2026 | +9.5%/yr | |
| Capital expenditures | $2.02BFY2017 | $55.66BFY2026 | +44.5%/yr | |
| Free cash flow | $12.11BFY2017 | −$23.69BFY2026 | — | |
| Free cash flow margin | 32.1%FY2017 | −35.2%FY2026 | −67.2 pts | |
| Operating cash flow / net income | 1.51FY2017 | 1.87FY2026 | +0.36 | |
| Stock-based compensation | $1.35BFY2017 | $4.81BFY2026 | +15.2%/yr | |
| Dividends paid | $2.63BFY2017 | $5.79BFY2026 | +9.2%/yr | |
| Share buybacks (net) | $3.84BFY2017 | $206.0MFY2026 | −27.8%/yr | |
| Capex / revenue | 5.4%FY2017 | 82.6%FY2026 | +77.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ORCL cash flow by activity
OperatingInvestingFinancingChange in cash
ORCL net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
ORCL cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $17.09B | $12.44B | $10.47B | $8.50B | $6.72B | $13.75B | $10.13B | $11.08B | $3.59B | $9.34B |
| Depreciation & amortization | $9.29B | $6.17B | $6.14B | $6.11B | $3.12B | $2.92B | $2.97B | $2.92B | $2.79B | $2.45B |
| Stock-based compensation | $4.81B | $4.67B | $3.97B | $3.55B | $2.61B | $1.84B | $1.59B | $1.65B | $1.61B | $1.35B |
| Change in working capital | −$2.19B | −$1.50B | −$488.0M | $513.0M | −$1.99B | −$148.0M | −$942.0M | −$70.0M | $8.13B | $739.0M |
| Other non-cash items | $2.98B | −$970.0M | −$1.42B | −$1.51B | −$926.0M | −$2.46B | −$612.0M | −$1.03B | −$728.0M | $251.0M |
| Cash from operating activities | $31.98B | $20.82B | $18.67B | $17.16B | $9.54B | $15.89B | $13.14B | $14.55B | $15.39B | $14.13B |
| Investing activities | ||||||||||
| Capital expenditures | −$55.66B | −$21.21B | −$6.87B | −$8.70B | −$4.51B | −$2.13B | −$1.56B | −$1.66B | −$1.74B | −$2.02B |
| Investments (net) | $3.81B | −$21.71B | −$7.36B | −$36.48B | $15.88B | −$10.92B | $11.53B | $28.58B | −$2.17B | −$8.25B |
| Acquisitions & other investing | $0 | $21.21B | $6.87B | $8.70B | −$148.0M | −$41.0M | −$124.0M | −$363.0M | −$1.72B | −$11.22B |
| Cash from investing activities | −$51.85B | −$21.71B | −$7.36B | −$36.48B | $11.22B | −$13.10B | $9.84B | $26.56B | −$5.62B | −$21.49B |
| Financing activities | ||||||||||
| Dividends paid | −$5.79B | −$4.74B | −$4.39B | −$3.67B | −$3.46B | −$3.06B | −$3.07B | −$2.93B | −$3.14B | −$2.63B |
| Share repurchases & issuance (net) | −$206.0M | −$1.50B | −$3.24B | −$2.50B | −$17.34B | −$21.60B | −$19.91B | −$36.64B | −$11.85B | −$3.84B |
| Net borrowing (repayment) | $40.21B | $5.60B | −$3.67B | $12.94B | −$8.25B | $12.30B | $15.39B | −$4.50B | $2.64B | $13.64B |
| Shares issued | $6.40B | $653.0M | $742.0M | $1.19B | $482.0M | $1.79B | $1.59B | $2.15B | $0 | $0 |
| Other financing | −$337.0M | $1.09B | $4.0M | −$55.0M | −$560.0M | $196.0M | −$133.0M | −$136.0M | $2.37B | $1.92B |
| Cash from financing activities | $40.28B | $1.10B | −$10.55B | $7.91B | −$29.13B | −$10.38B | −$6.13B | −$42.06B | −$9.98B | $9.09B |
| Summary | ||||||||||
| Net change in cash | $20.50B | $332.0M | $689.0M | −$11.62B | −$8.71B | −$7.14B | $16.73B | −$1.11B | −$164.0M | $1.63B |
| Cash at end of period | $31.29B | $10.79B | $10.45B | $9.77B | $21.38B | $30.10B | $37.24B | $20.51B | $21.62B | $21.78B |
| Free cash flow | −$23.69B | −$394.0M | $11.81B | $8.47B | $5.03B | $13.75B | $11.57B | $12.89B | $13.65B | $12.11B |
| Free cash flow margin | −35.2% | −0.7% | 22.3% | 17.0% | 11.8% | 34.0% | 29.6% | 32.6% | 34.3% | 32.1% |
| Capex / revenue | 82.6% | 37.0% | 13.0% | 17.4% | 10.6% | 5.3% | 4.0% | 4.2% | 4.4% | 5.4% |
| Operating cash flow / net income | 1.87 | 1.67 | 1.78 | 2.02 | 1.42 | 1.16 | 1.30 | 1.31 | 4.29 | 1.51 |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $4.76B | $4.30B | $3.72B | $6.13B | $2.93B | $3.43B | $2.94B | $3.15B | $2.93B | $3.14B | $2.40B | $2.50B |
| Depreciation & amortization | $3.36B | $2.85B | $2.57B | $2.11B | $1.77B | $1.70B | $1.55B | $1.50B | $1.43B | $1.55B | $1.56B | $1.55B |
| Stock-based compensation | $1.13B | $1.20B | $2.48B | $1.16B | $1.12B | $1.30B | $1.20B | $1.17B | $1.01B | $1.05B | $1.05B | $1.03B |
| Change in working capital | $13.94B | −$2.19B | $3.12B | −$4.76B | $1.64B | $29.0M | $620.0M | −$2.08B | $2.08B | $631.0M | $875.0M | −$4.57B |
| Other non-cash items | −$77.0M | $8.46B | −$4.74B | −$2.57B | $679.0M | −$295.0M | −$372.0M | −$2.43B | −$21.0M | −$294.0M | −$405.0M | −$370.0M |
| Cash from operating activities | $23.10B | $14.62B | $7.15B | $2.07B | $8.14B | $6.16B | $5.93B | $1.30B | $7.43B | $6.08B | $5.47B | $143.0M |
| Investing activities | ||||||||||||
| Capital expenditures | −$28.50B | −$16.49B | −$18.64B | −$12.03B | −$8.50B | −$9.08B | −$5.86B | −$3.97B | −$2.30B | −$2.80B | −$1.67B | −$1.08B |
| Investments (net) | −$81.0M | $615.0M | −$909.0M | $4.32B | −$8.72B | −$9.18B | −$5.98B | −$3.79B | −$2.77B | −$2.77B | −$1.78B | −$1.25B |
| Acquisitions & other investing | $0 | $0 | $0 | $0 | $8.50B | $9.08B | $5.86B | $3.97B | $2.30B | $2.80B | $1.67B | $1.08B |
| Cash from investing activities | −$28.58B | −$15.88B | −$19.54B | −$7.71B | −$8.72B | −$9.18B | −$5.98B | −$3.79B | −$2.77B | −$2.77B | −$1.78B | −$1.25B |
| Financing activities | ||||||||||||
| Dividends paid | −$1.56B | −$1.50B | −$1.44B | −$1.44B | −$1.41B | −$1.40B | −$1.12B | −$1.12B | −$1.10B | −$1.10B | −$1.10B | −$1.10B |
| Share repurchases & issuance (net) | — | $0 | −$2.0M | −$92.0M | −$112.0M | −$150.0M | −$152.0M | −$197.0M | −$1.00B | −$327.0M | −$582.0M | −$1.12B |
| Net borrowing (repayment) | −$5.03B | −$4.42B | $27.99B | $17.93B | −$1.29B | −$3.79B | $7.64B | $4.14B | −$2.40B | — | — | −$189.0M |
| Shares issued | $19.91B | $132.0M | $4.96B | $138.0M | $1.17B | $133.0M | $213.0M | $128.0M | $179.0M | $288.0M | $28.0M | $118.0M |
| Other financing | −$201.0M | −$122.0M | −$12.0M | −$2.06B | $1.85B | $1.39B | −$23.0M | −$15.0M | −$261.0M | −$1.13B | −$810.0M | $4.0M |
| Cash from financing activities | $13.11B | −$5.91B | $31.50B | $14.49B | $210.0M | −$3.81B | $6.56B | $2.94B | −$4.58B | −$2.27B | −$2.46B | −$2.29B |
| Summary | ||||||||||||
| Net change in cash | $7.64B | −$7.17B | $19.21B | $8.80B | −$341.0M | −$6.62B | $6.46B | $325.0M | $162.0M | $973.0M | $1.24B | −$3.37B |
| Cash at end of period | $38.93B | $31.29B | $38.45B | $19.24B | $10.45B | $10.79B | $17.41B | $10.94B | $10.62B | $10.45B | $9.48B | $8.24B |
| Free cash flow | −$5.40B | −$1.87B | −$11.48B | −$9.97B | −$362.0M | −$2.92B | $71.0M | −$2.67B | $5.12B | $3.28B | $3.80B | −$937.0M |
| Free cash flow margin | −27.9% | −9.8% | −66.8% | −62.1% | −2.4% | −18.4% | 0.5% | −19.0% | 38.5% | 23.0% | 28.6% | −7.2% |
| Capex / revenue | 147.3% | 86.0% | 108.4% | 74.9% | 57.0% | 57.1% | 41.5% | 28.2% | 17.3% | 19.6% | 12.6% | 8.3% |
| Operating cash flow / net income | 4.85 | 3.40 | 1.92 | 0.34 | 2.78 | 1.80 | 2.02 | 0.41 | 2.54 | 1.93 | 2.28 | 0.06 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
ORCL cash generation
In fiscal 2026 (ended May 31, 2026), Oracle generated $32.0 billion of cash from operations (up 53.6%) and spent $55.7 billion on capital expenditures, leaving free cash flow of -$23.7 billion, −35.2% of revenue. It returned $6.0 billion to shareholders through dividends ($5.8 billion) and net share buybacks ($206.0 million). Cash and equivalents rose by $20.5 billion over the year.
Related: ORCL income statement, ORCL balance sheet, ORCL dividend history. See the ORCL stock overview for the latest quote and news.
ORCL cash flow FAQ
What is Oracle's free cash flow?
Oracle's free cash flow was -$23.7 billion in fiscal 2026: $32.0 billion of operating cash flow minus $55.7 billion of capital expenditures It was -$394.0 million a year earlier..
How much cash does Oracle generate from operations?
Oracle generated $32.0 billion of cash from operating activities in fiscal 2026, 1.87 times its net income of $17.1 billion.
How much does Oracle spend on capital expenditures?
Oracle spent $55.7 billion on capital expenditures in fiscal 2026, 82.6% of revenue, compared with $21.2 billion the year before.
How much stock does Oracle buy back?
Oracle spent $206.0 million on net share repurchases in fiscal 2026.
How much does Oracle pay in dividends?
Oracle paid $5.8 billion in dividends in fiscal 2026.