ORCL · 8-K · 20261028PR435853

Funding and Liquidity Plan

ORACLE CORP · 2026-10-28 · Importance 58 · Surprise 42 · Contradicted

Oracle committed to limiting additional capital-market funding for its FY27–FY30 investment cycle to $20 billion, expected to comprise $10 billion of equity and $10 billion of gross debt. The commitment excludes refinancing existing debt and is in addition to the $20 billion at-the-market equity raise completed in Q1 FY27. Vendor financing, customer-provided hardware, and customer prepayments are expected to reduce upfront cash requirements. Oracle expects growth to be self-funded beginning in FY29 and targets net debt to adjusted EBITDA below 3.5 times in FY29.

Key facts

• Oracle confirmed that growth will be self-funded beginning in FY29 source
• Oracle committed to limiting additional capital raises through FY30 to $20 billion, excluding refinancing of existing debt, split between $10 billion in equity and $10 billion in gross debt source
• Oracle committed to limiting capital-market funding for its FY27-FY30 investment cycle to $20 billion, currently expected to comprise $10 billion in equity and $10 billion in gross debt source
• Oracle's $20 billion incremental capital-market funding requirement is in addition to the $20 billion at-the-market equity raise completed in the first quarter of fiscal 2027 source
• Oracle's incremental funding requirement excludes refinancing of existing debt source
• Oracle expects vendor financing, customer-provided hardware and customer prepayments to reduce upfront cash requirements through the transition to positive free cash flow source

Impact estimates