Oracle Corporation

ORCLActive

CIK 1341439 · Tech & Software Serial Acquirers

Oracle Corporation is a public company in Software - Infrastructure, tracked in the tech software serial acquirers sub-sector, with $64B TTM revenue and $29B TTM EBITDA.

Market data as of May 10, 2026

Financials: LTM / latest available company filings

Sources: FMP, ORCL filings, SEC EDGAR

$563,532

Market cap ($MM)

$687,242

Enterprise value ($MM)

$64,077

Revenue · LTM ($MM)

$29,308

EBITDA · LTM ($MM)

46%

EBITDA margin

10.7x

EV / revenue

23.4x

EV / EBITDA

0.2x

Net debt / EBITDA

Coverage

Coverage view

The analytical read on the name and the balance-sheet capacity behind the program.

Key points

01ORCL is a scaled public consolidator in Tech & Software, a benchmark for how the sub-sector buys, pays, and trades.
02The relevant peer set is MSFT, CSCO, CRM, ADBE.

Balance sheet & capacity

Indicative capacity read: 0.2x net debt / EBITDA with EBITDA of $29B.

$38,455

Cash & equiv. ($MM)

$43,000

Total debt ($MM)

$4,545

Net debt ($MM)

0.2x

Net debt / EBITDA

Valuation

Where it trades against its peer set

ORCL versus the scaled public Tech & Software Serial Acquirers comparables.

EV / EBITDA distribution · peer set

ORCL 23.4x

Indexed share-price performance

ORCL versus available Tech & Software Serial Acquirers peers and SPY.

+145%

ORCL

+21%

Peer med.

+79%

SPY

Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.

Company	Ticker	Revenue ($MM)	EBITDA ($MM)	Margin	Market cap ($MM)	EV ($MM)	EV / rev	EV / EBITDA	Net debt / EBITDA
Oracle Corporation	ORCL	$64,077	$29,308	46%	$563,532	$687,242	10.7x	23.4x	0.2x
Microsoft Corporation	MSFT	$318,273	$200,959	63%	$3,083,690	$3,108,550	9.8x	15.5x	0.0x
Cisco Systems, Inc.	CSCO	$59,054	$17,000	29%	$381,441	$404,069	6.8x	23.8x	0.9x
Salesforce, Inc.	CRM	$41,525	$12,725	31%	$172,727	$182,576	4.4x	14.3x	0.6x
Adobe Inc.	ADBE	$24,453	$9,880	40%	$102,279	$102,603	4.2x	10.4x	-0.1x
Tech & Software Serial Acquirers median		$59,054	$17,000	40%	$381,441	$404,069	6.8x	15.5x	0.2x

Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.

M&A program

A sustained, programmatic tuck-in cadence

ORCL's disclosed acquisition footprint and the deals behind it.

Disclosed acquisitions

Active years

Named deals

Avg / active year

3.4

Acq. cash outflow ($MM)

N/A

Banker read

01ORCL reads as a programmatic acquirer: 55 disclosed acquisitions across 16 active years, or 3.4 per active year. The chart shows activity in 5 of the last 12 visible years.
02In the last three years, the file shows 1 acquisitions versus 2 in the prior three; recent activity has cooled versus the prior three-year period.
03Spend changes the read: $81B of disclosed spend is concentrated in lumpy years, with FY23 the largest year at $28B. Recent spend is above the prior three-year period.

Annual acquisitions + disclosed spend

count spend named deal

ORCL count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.

Program diagnostics

Recent / prior

1 / 2

Last three years is down 50% vs prior three.

Peak count year

FY12

4 disclosed acquisitions in the peak visible year.

Recent spend

$28B

is up 110% vs prior three; peak FY23 at $28B.

Named evidence

10 rows

18% selected source-cited transaction coverage.

Selected transactions

Date	Target	Segment	Consideration ($MM)	Strategic rationale	Source
Jun 8, 2022	Cerner Corporation	Tech software serial acquirers	$28,200	On June 8, 2022, we completed our acquisition of Cerner Corporation (Cerner), a provider of digital information systems used within hospitals and health systems that are designe...	10-K^†
Jan 7, 2005	PeopleSoft, Inc.	Tech software serial acquirers	$11,100	We acquired approximately 75% and 97% of the outstanding common stock of PeopleSoft, Inc. for $26.50 per share in cash as of December 29, 2004 and January 6, 2005, respectively....	10-K^†
Apr 29, 2008	BEA Systems, Inc.	Tech software serial acquirers	$8,615	We acquired BEA Systems, Inc. on April 29, 2008 by means of a merger of one of our wholly-owned subsidiaries with and into BEA such that BEA became a wholly-owned subsidiary of...	10-K^†
Apr 19, 2009	Sun Microsystems, Inc.	Tech software serial acquirers	$7,400	On April 19, 2009, we entered into an Agreement and Plan of Merger (Merger Agreement) with Sun Microsystems, Inc. (Sun), a provider of enterprise computing systems, software and...	10-K^†
Jan 26, 2010	Sun Microsystems, Inc.	Tech software serial acquirers	$7,299	On January 26, 2010 we completed our acquisition of Sun, a provider of hardware systems, software and services, by means of a merger of one of our wholly owned subsidiaries with...	10-K^†
Jan 26, 2010	Sun Microsystems, Inc.	Tech software serial acquirers	$7,295	On January 26, 2010 we completed our acquisition of Sun Microsystems, Inc., a provider of hardware systems, software and services, by means of a merger of one of our wholly owne...	10-K^†
Jan 31, 2006	Siebel Systems, Inc.	Tech software serial acquirers	$6,131	On January 31, 2006, we completed our acquisition of Siebel pursuant to our Merger Agreement dated September 12, 2005. We acquired Siebel to expand our customer relationship man...	10-K^†
Sep 8, 2014	MICROS Systems, Inc.	Tech software serial acquirers	$5,206	Acquisition of MICROS Systems, Inc. On September 8, 2014, we completed our acquisition of MICROS Systems, Inc. (MICROS), a provider of integrated software, hardware and services...	10-K^†

Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 16 SEC-backed facts across 9 cited filings.

Evidence

Source archive

A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.

Annual 10-Ks

Named deal filings

Recent SEC filings

Evidence clips

Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.18 rows+

Fiscal year	Filing date	Form	Status	Count	Cash spend	Purchase consideration	Source
FY2025	Jun 18, 2025	Annual M&A 10-K	accepted	N/A	N/A	N/A	SEC filing
FY2024	Jun 20, 2024	Annual M&A 10-K	warning (1 warn)	N/A	$63.0MM	N/A	SEC filing
FY2023	Jun 20, 2023	Annual M&A 10-K	accepted	N/A	$28B	$28B	SEC filing
FY2022	Jun 21, 2022	Annual M&A 10-K	accepted	1	$148MM	$28B	SEC filing
FY2021	Jun 21, 2021	Annual M&A 10-K	warning (1 warn)	N/A	$41.0MM	N/A	SEC filing
FY2020	Jun 22, 2020	Annual M&A 10-K	warning (1 warn)	N/A	$124MM	N/A	SEC filing
FY2019	Jun 21, 2019	Annual M&A 10-K	warning (1 warn)	N/A	$363MM	N/A	SEC filing
FY2017	Jun 27, 2017	Annual M&A 10-K	accepted	N/A	$11B	$12B	SEC filing
FY2016	Jun 22, 2016	Annual M&A 10-K	warning (1 warn)	N/A	$650MM	N/A	SEC filing
FY2015	Jun 25, 2015	Annual M&A 10-K	quarantined (2 issue)	N/A	$6.2B	$6.9B	SEC filing
FY2014	Jun 26, 2014	Annual M&A 10-K	accepted	N/A	$3.5B	$3.9B	SEC filing
FY2013	Jun 26, 2013	Annual M&A 10-K	accepted	2	$3.0B	$3.0B	SEC filing
FY2012	Jun 26, 2012	Annual M&A 10-K	accepted	4	$4.7B	$5.1B	SEC filing
FY2010	Jul 1, 2010	Annual M&A 10-K	accepted	2	$5.6B	$7.3B	SEC filing
FY2009	Jun 29, 2009	Annual M&A 10-K	accepted	N/A	$1.2B	$1.2B	SEC filing
FY2008	Jul 2, 2008	Annual M&A 10-K	accepted	2	$8.6B	$8.6B	SEC filing
FY2007	Jun 29, 2007	Annual M&A 10-K	accepted	1	$3.3B	$3.3B	SEC filing
FY2006	Jul 21, 2006	Annual M&A 10-K	accepted	N/A	$4.0B	$6.1B	SEC filing

Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.8 rows+

Filing date	Form	Targets / topics	Support	Source
Jun 20, 2024	10-K	Cerner Corporation	Annual M&ANamed deals	SEC filing
Jun 27, 2017	10-K	MICROS Systems, Inc.	Annual M&ANamed deals	SEC filing
Jun 25, 2015	10-K	Acme Packet, Inc.	Annual M&ANamed deals	SEC filing
Jun 26, 2012	10-K	Sun Microsystems, Inc.	Annual M&ANamed deals	SEC filing
Jul 1, 2010	10-K	BEA Systems, Inc.; Sun Microsystems, Inc.	Annual M&ANamed deals	SEC filing
Jun 29, 2009	10-K	Sun Microsystems, Inc.; Hyperion Solutions Corporation	Annual M&ANamed deals	SEC filing
Jul 2, 2008	10-K	Siebel Systems, Inc.	Annual M&ANamed deals	SEC filing
Jul 21, 2006	10-K	PeopleSoft, Inc.	Annual M&ANamed deals	SEC filing

Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.10 rows+

Filing date	Form	Items	Description	Support	Source
Apr 6, 2026	8-K	5.02,7.01,9.01	8-K	FinancialsRecent SEC	SEC filing
Mar 11, 2026	10-Q	N/A	10-Q	Recent SEC	SEC filing
Mar 10, 2026	8-K	2.02,8.01,9.01	8-K	Recent SEC	SEC filing
Mar 1, 2026	10-Q	N/A	Quarterly report from SEC company index	Recent SEC	SEC filing
Feb 5, 2026	8-K	1.01,3.03,5.03,9.01	8-K	Recent SEC	SEC filing
Feb 4, 2026	8-K	1.01,8.01,9.01	8-K	Recent SEC	SEC filing
Jan 9, 2026	8-K	5.02	8-K	Recent SEC	SEC filing
Dec 11, 2025	10-Q	N/A	10-Q	Recent SEC	SEC filing
Dec 10, 2025	8-K	2.02,8.01,9.01	8-K	Recent SEC	SEC filing
Dec 1, 2025	10-Q	N/A	Quarterly report from SEC company index	Recent SEC	SEC filing

Evidence clipsShort excerpts used on the page; expand only when you want the language.6 rows+

Acquisition of Cerner Corporation

10-K - Jun 20, 2024

Medium

On June 8, 2022, we completed our acquisition of Cerner Corporation (Cerner), a provider of digital information systems used within hospitals and health systems that are designed to enable medical professionals to deliv…

SEC source

PeopleSoft, Inc.

10-K - Jul 21, 2006

Medium

We acquired approximately 75% and 97% of the outstanding common stock of PeopleSoft, Inc. for $26.50 per share in cash as of December 29, 2004 and January 6, 2005, respectively. On January 7, 2005, we completed the merg…

SEC source

BEA Systems, Inc.

10-K - Jul 1, 2010

Medium

We acquired BEA Systems, Inc. on April 29, 2008 by means of a merger of one of our wholly-owned subsidiaries with and into BEA such that BEA became a wholly-owned subsidiary of Oracle. We acquired BEA to, among other th…

SEC source

Sun Microsystems, Inc.

10-K - Jun 29, 2009

Medium

On April 19, 2009, we entered into an Agreement and Plan of Merger (Merger Agreement) with Sun Microsystems, Inc. (Sun), a provider of enterprise computing systems, software and services. Pursuant to the Merger Agreemen…

SEC source

Acquisition of Sun Microsystems, Inc.

10-K - Jun 26, 2012

Medium

On January 26, 2010 we completed our acquisition of Sun, a provider of hardware systems, software and services, by means of a merger of one of our wholly owned subsidiaries with and into Sun such that Sun became a wholl…

SEC source

Sun Microsystems, Inc.

10-K - Jul 1, 2010

Medium

On January 26, 2010 we completed our acquisition of Sun Microsystems, Inc., a provider of hardware systems, software and services, by means of a merger of one of our wholly owned subsidiaries with ...

SEC source

Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.

Search

Coverage view

Where it trades against its peer set

A sustained, programmatic tuck-in cadence

Source archive