Oracle Corporation announced its long-term financial outlook during its 2026 Investor Day held in Las Vegas on October 28, 2026. The company set a target of reaching total revenue of $225 billion or more in fiscal year 2030. This figure represents a compound annual growth rate (CAGR) of more than 35% from fiscal year 2026 through fiscal year 2030.
In addition to revenue targets, Oracle outlined specific expectations for profitability and cash flow. The company projects a non-GAAP operating margin of 40% or higher by FY30 and non-GAAP earnings per share (EPS) of $21 or more. Regarding free cash flow, Oracle defined a timeline for positive free cash flow to begin in the second half of fiscal year 2028. The company set a target of generating at least $30 billion in free cash flow for fiscal year 2029.
Oracle also provided details regarding its capital allocation strategy for the fiscal years 2027 through 2030. The company committed to limiting additional capital raises to $20 billion during this period, excluding refinancing of existing debt. This amount is split equally between $10 billion in equity and $10 billion in gross debt. The company noted that growth is expected to be self-funded beginning in fiscal year 2029, with a target for net debt to adjusted EBITDA to be below 3.5 times in FY29.
Oracle reaffirmed its fiscal 2027 outlook, projecting total revenue of at least $90 billion and non-GAAP EPS of $8.10. The company emphasized that capital expenditures are expected to step down in fiscal year 2029 following a period of peak capital spending in FY27 and FY28.
