Oracle’s Backlog Hits $638B While Liabilities Surge 48% to $218.7B
ORCL•Oracle’s backlog surged 363% to a record $638 billion in Q4, outpacing both Alphabet and Microsoft and now exceeds its $530 billion market capitalization. Liabilities climbed 48% to $218.7 billion and the company plans up to $95 billion in capital expenditures while raising $40 billion through debt and equity sales.
1. Record Backlog Exceeds Market Cap
Oracle’s remaining performance obligation climbed 363% in Q4 to $638 billion, surpassing both Alphabet’s $627 billion and Microsoft’s $460 billion and outstripping Oracle’s $530 billion market capitalization.
2. Liabilities Jump During Aggressive Debt Raises
Total liabilities increased 48% to $218.7 billion in Q4, driven by $43 billion of debt financing last fiscal year and plans to raise an additional $40 billion in debt and equity during the current fiscal period.
3. Heavy Capex Planned for Infrastructure
Management forecasts up to $95 billion in capital expenditures for fiscal 2027, up from $55.7 billion last year, reflecting expansion of data centers and infrastructure to meet future customer commitments, notably from OpenAI.
