Oracle: Capex by Quarter

~$70B

net cash outlay for capital expenditures in fiscal 2027 will be around $70 billion, excluding $20 billion to $25 billion in prepayments from customers and timing impact

The one guide in this tracker that is not comparable to its peers without adjustment: it is a net figure, struck after 20-25bn of customer prepayments. The gross number Oracle quotes alongside it is 90-95bn, which is the figure to use against Microsoft, Amazon, Alphabet and Meta.

tier-1 source

~$50B · actual $55.7B (company total)

about $50 billion in full-year capital expenditures, up from $35 billion as of September

Scored against the 55.7bn Oracle reported for the fiscal year, because only two of the four fiscal quarters are on file as rows. Guided to 35bn in September, 50bn in December, spent 55.7bn: the guide chased the spend all year.

tier-1 sourcetier-1 source

Headline

$15.9B

Cash capex

$15.9B

Finance leases

n/a

Basis gap

n/a

Closing quarter of a fiscal year in which capex rose 162% to 55.7bn while operating cash flow was 32.0bn, leaving free cash flow at roughly negative 23.7bn.

primary sourcetier-1 source

Headline

$12B

Cash capex

$12B

Finance leases

n/a

Basis gap

n/a

Oracle's fiscal year ends 31 May, so this fiscal Q2 covers September to November and lands in calendar Q4. Operating cash flow of 2.1bn against 12bn of capex put free cash flow at roughly negative 10bn for the quarter.

primary sourcetier-1 source