Forensic Analysis · Technology / Software · as of Sep 24, 2026
Oracle Corp (ORCL)
A forensic read on Oracle Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
2.7
Distress distance
Clean
Earnings quality
4
Forensic signals
23.6
P / E (ttm)
40.2%
ROE
$437.1B
Market cap
1.38%
Dividend yield
17.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Oracle Corp earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 2.7, placing it in the Safe zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+29.9%
FY2025→FY2026
Accruals ratio (% of NOA).Net operating assets grew +29.9% relative to their own average in FY2026 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by PP&E up +130% against revenue +17% and receivables up +21% against revenue +17%. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 12% of net operating assets, against an accruals ratio of 29.9%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
+1.6%/yr
FY2024–FY2026
Share-count dilution.Diluted share count changed +3% over the last 2 years to FY2026 (+1.6%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.6% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2024 has been diluted ~3%.
FCF ($23.7B)
FY2026
Shareholder returns.Returned $5.9B to shareholders (buybacks + dividends) in FY2026, but free cash flow was ($23.7B) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $32.0B — 18% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.
8.3%
Key fundamentals
Latest Revenue$67.36B
Revenue Growth YoY+17.3%
Revenue CAGR (2yr)+12.8%
Net Margin25.4%
Free Cash Flow-$23.69B
Return on Equity40.2%
Debt / Equity3.05x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Oracle Corp's actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 24, 2026. Forensic signals flag probability, not certainty.
FY2026
Return on invested capital.Return on invested capital is 8.3% in the latest fiscal year and slipping across FY2024–FY2026 from 11%. The capital base behind it grew +79% across FY2024–FY2026, from $109.6B to $195.9B, while the return fell 2.8 points, so the dollars added over that window earned less than the 11% the older base was already earning. $40.0B of the $195.9B base at FY2026 is construction in progress (20.4%) — paid for, not yet in service, and so in the denominator of this return while it cannot be in the profit above it.