ORCL · 8-K · 20261028PR435853

Capital Funding and Liquidity

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

Oracle committed to limiting additional 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; refinancing of existing debt is excluded. This is in addition to the $20 billion at-the-market equity raise completed in the first quarter of fiscal 2027. Vendor financing, customer-provided hardware and customer prepayments are expected to reduce upfront cash requirements through the transition to positive free cash flow. Oracle expects growth to be self-funded beginning in FY29 and net debt to adjusted EBITDA to be below 3.5 times in FY29.

Key facts