What moat does Oracle have?

The advantage is the application already writing to that database and the team that already runs it. They can migrate. The moat narrows if the customer does not move to the cloud, or if OCI usage falls.

How do you read the Oracle radar?

Health is debt against a licence and cloud business, not against the customer's servers. Quality separates the licence, which renews, from OCI consumption. Growth follows that use and new accounts, not a training cluster. P/E is read against a year of heavy cloud, not against that peak. Shareholder return, if any, comes out of that cash. Do not read it as a database change that cannot happen.

Which multiples matter for Oracle?

The P/E of a year of heavy training is not normal earnings. EV/EBITDA is read without treating the customer's consumption as assured revenue. Do not use the multiple of a cloud that sells the server, or of another database, as if the book were the same. A dash if the ORCL cache is cold.

What does this Oracle analysis leave out?

Not advice on Oracle. Vaultflake does not state a growth rate or treat the database as irreplaceable. Read the filings. The table is a snapshot, not a target price.

Oracle (ORCL) analysis

Oracle Corporation

Sector:Technology · Database and Cloud

Country:United States

Profile and moat

Oracle sells the database a company uses to record orders and accounts, and a cloud, OCI, where part of that runs. Microsoft, SAP, PostgreSQL and Amazon do parts of the same trade. It is not the backbone by decree. This report does not state a growth rate.

Moving a production database is a project. It happens. The customer can leave the cloud and keep the licence on its own servers. If they spend less on cloud, they usually spend less on OCI. A year of model training is not normal earnings.

Cash is the licence and that use. The debt has to fit. It is not a change that freezes the company.

Sustainable Competitive Advantage

Oracle (ORCL) analysis

Oracle Corporation

Sector:Technology · Database and Cloud

Country:United States

Profile and moat

Cash is the licence and that use. The debt has to fit. It is not a change that freezes the company.

Sustainable Competitive Advantage

Oracle (ORCL) analysis

Profile and moat

Oracle (ORCL) analysis

Profile and moat

Radar axes

Limits of this report

Questions from this report

What moat does Oracle have?

How do you read the Oracle radar?

Which multiples matter for Oracle?

What does this Oracle analysis leave out?

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