Oracle Corporation — Earnings Quality Grade F
ORCL · Technology
Major red flags
Screening Summary
管理层信号
数据来源：SEC EDGAR 8-K Item 5.02，附 Exhibit 99.1 链接
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 54 days, change +0 days YoY
AR outpaced revenue for 2 consecutive years
Revenue 8.4%, CFFO 11.5%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth 209.0% is >2x revenue growth 8.4%
SG&A/Gross Profit = 25.3%, excellent (<30%)
Gross margin 70.5%, change -0.9pp. Stable
Cash Flow Quality
CFFO/NI = 1.67. Profits backed by cash
FCF is negative ($-0.4B)
Accruals ratio = -5.0%. Low accruals
Cash $11.2B covers only 11% of debt $104.1B
Balance Sheet Health
Goodwill+Intangibles $66.8B = 327% of equity. Over 50%
Debt/EBITDA = 4.4x (>4x). Financial stress
Other assets grew 39.3% vs revenue 8.4%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -3% YoY. Normal
Manipulation Score
M-Score = -2.56 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25