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Founder, CEO

Equity Bottom-Up

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<li>Oracle closed FY2026 with Remaining Performance Obligations of $638 billion, up 363% year-over-year, as customers increasingly prepaid for GPU capacity or supplied hardware directly.</li>
<li>FY2026 capital expenditure reached $55.7 billion, pushing free cash flow to negative $23.7 billion. Management guides to roughly $70 billion of net cash capex in FY2027.</li>
<li>At 18x forward P/E and 11.2x forward EV/EBITDA, Oracle trades roughly in line with large-cap technology peers despite carrying the highest forward revenue growth in the group</li>
</ul>


Oracle closed FY2026 with Remaining Performance Obligations of $638 billion, up 363% year-over-year, as customers increasingly prepaid for GPU capacity or supplied hardware directly.
FY2026 capital expenditure reached $55.7 billion, pushing free cash flow to negative $23.7 billion. Management guides to roughly $70 billion of net cash capex in FY2027.
At 18x forward P/E and 11.2x forward EV/EBITDA, Oracle trades roughly in line with large-cap technology peers despite carrying the highest forward revenue growth in the group


Oracle Corp

Oracle's AI Bet Is Paying Off in Backlog