Oracle Corporation 8-K
PositiveNew guidance
Cloud infrastructure, database and apps underpin $225B+ FY2030 revenue target; lower capex supports self-funded growth from FY2029.
Filed 2026-10-28 14:24 ET
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Oracle’s 2026 Investor Day set a long-term growth and profitability outlook and reaffirmed its FY2027 outlook. Oracle expects cloud infrastructure, database and applications to drive growth; it also outlined a path to positive free cash flow after peak capital expenditures in FY2027–FY2028.
Key Figures
- Capital expenditures are expected to peak in FY2027–FY2028 and step down in FY2029, supporting positive free cash flow. Oracle expects growth to be self-funded beginning in FY2029.
- Additional capital-market funding for the FY2027–FY2030 investment cycle is capped at $20B, excluding refinancing of existing debt, currently expected to comprise $10B in equity and $10B in gross debt. This is in addition to the $20B at-the-market equity raise completed in Q1 FY2027.
- Vendor financing, customer-provided hardware and customer prepayments are expected to reduce upfront cash requirements during the transition to positive free cash flow.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Total revenue | FY2027 | At least $90B | — | Reaffirmed |
| Non-GAAP EPS | FY2027 | $8.10 | — | Reaffirmed |
| Total revenue; Y/Y CAGR from FY2026 | FY2030 | $225B+; >35% | — | Initiated |
| Non-GAAP operating margin | FY2030 | 40%+ | — | Initiated |
| Non-GAAP EPS | FY2030 | $21+ | — | Initiated |
| Positive free cash flow | H2 FY2028 | Targeted | — | Initiated |
| Free cash flow | FY2029 | $30B+ | — | Initiated |
| Self-funded growth | FY2029 | Expected to begin | — | Initiated |
| Net debt to adjusted EBITDA | FY2029 | Below 3.5x | — | Initiated |
Investor Takeaways
- Track revenue growth against Oracle’s FY2030 target of $225B+ and a Y/Y CAGR above 35% from FY2026; performance across cloud infrastructure, database and applications is the stated growth driver.
- Watch whether free cash flow turns positive in H2 FY2028 and reaches $30B+ in FY2029 as capital expenditures step down after their expected FY2027–FY2028 peak.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-30 14:50:45Z