Boeing vs Oracle: Revenue, Profit and Business Model
Boeing reported $89.5B of revenue in FY2025 and $2.2B of net income. Oracle reported $67.4B of revenue in FY2026 and $17.1B of net income.
Latest financial snapshot
Financial summary
Boeing
Boeing went from record revenue of $101.1 billion and a $10.5 billion profit in 2018 to six straight years of losses after the 737 MAX grounding, the pandemic, the 2024 door-plug blowout and a 53-day machinists' strike. The 2024 loss alone was $11.8 billion. To protect its investment-grade rating, Boeing raised about $24 billion of equity in October 2024 and sold Jeppesen, ForeFlight and other digital aviation assets to Thoma Bravo for $10.55 billion in 2025. FY2025 revenue rose 34% to $89.5 billion and net earnings returned to $2.2 billion, but that profit came from the $9.6 billion sale gain; Commercial Airplanes still lost $7.1 billion. In the first half of 2026 revenue rose 11% to $46.8 billion, the net loss narrowed to $435 million, and consolidated debt fell to $45.9 billion from $54.1 billion at the end of 2025.
Oracle
Oracle's revenue grew from $39.1 billion in FY2020 to $57.4 billion in FY2025 and $67.36 billion in FY2026, when net income was $17.09 billion. Growth is now driven by cloud: Q1 FY2027 cloud revenue (IaaS plus SaaS) was $11.6 billion, up 62%, and operating cash flow was a record $23 billion for the quarter. The other side of the ledger is capex. FY2026 capital spending of $55.7 billion pushed free cash flow negative, and Oracle has funded the gap with bond issuance and equity sales. Management guides to at least $90 billion of FY2027 revenue and non-GAAP EPS of $8.10.
Revenue and profit by year
Boeing
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $89.5B | $2.2B | 2.5% | +34.5% | Source |
| FY2024 | $66.5B | -$11.8B | -17.8% | -14.5% | Source |
| FY2023 | $77.8B | -$2.2B | -2.9% | +16.8% | Source |
| FY2022 | $66.6B | -$4.9B | -7.4% | +6.9% | Source |
| FY2021 | $62.3B | -$4.2B | -6.7% | +7.1% | Source |
| FY2020 | $58.2B | -$11.9B | -20.4% | -24.0% | Source |
| FY2019 | $76.6B | -$636M | -0.8% | -24.3% | Source |
| FY2018 | $101.1B | $10.5B | 10.3% | +7.6% | Source |
| FY2017 | $94B | $8.5B | 9.0% | +0.5% | Source |
| FY2016 | $93.5B | $5B | 5.4% | — | Source |
Oracle
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $67.4B | $17.1B | 25.4% | +17.3% | Source |
| FY2025 | $57.4B | $12.4B | 21.7% | +8.4% | Source |
| FY2024 | $53B | $10.5B | 19.8% | +6.0% | Source |
| FY2023 | $50B | $8.5B | 17.0% | +17.7% | Source |
| FY2022 | $42.4B | $6.7B | 15.8% | +4.8% | Source |
| FY2021 | $40.5B | $13.7B | 34.0% | +3.6% | Source |
| FY2020 | $39.1B | $10.1B | 25.9% | -1.1% | Source |
| FY2019 | $39.5B | $11.1B | 28.1% | +0.3% | Source |
| FY2018 | $39.4B | $3.6B | 9.1% | +4.2% | Source |
| FY2017 | $37.8B | $9.5B | 25.0% | — | Source |
Where the revenue comes from
Boeing
- Commercial Airplanes
46% ($41.5B in 2025)
737 MAX, 767, 777/777X and 787 sales to airlines and lessors; revenue is recognized mostly at delivery, and the segment lost $7.1B from operations in 2025.
- Defense, Space & Security
30% ($27.2B in 2025)
Military aircraft, weapons, satellites and space systems for the U.S. government and allies, with a record $85B backlog at the end of 2025.
- Global Services
23% ($20.9B in 2025)
Parts, maintenance, modifications and training for commercial and government fleets; Boeing's most profitable segment.
Oracle
- Cloud Services and License SupportLargest
OCI, SaaS, database services, and recurring support revenue.
- Cloud License and On-Premise LicenseMaterial
New licenses and cloud license rights for enterprise software.
- ServicesMaterial
Consulting, support, and implementation work.
- HardwareSmaller
Exadata, engineered systems, and related hardware products.
Business model and strategy
Boeing
How it makes money
Boeing earns money in three segments. Commercial Airplanes (BCA) designs, builds and sells the 737, 767, 777 and 787. Airlines and lessors pay deposits and progress payments over several years, but most of the price arrives at delivery, so revenue moves with delivery volume.
Growth strategy
Under Kelly Ortberg the plan is to stabilize first and grow second. Boeing runs a Safety & Quality Plan with key performance indicators for each factory and raises 737 and 787 rates only when those metrics and the FAA allow it.
Competitive advantage
Boeing's advantages are hard to copy: a century of certification know-how, a global installed fleet that keeps buying parts and services, and a backlog of more than 6,200 commercial airplanes worth $597 billion at June 30, 2026. Only Airbus builds comparable large jets, and with both makers sold out for years, airlines that need aircraft this decade order from both. In defense, Boeing now holds both U.S.
Oracle
How it makes money
Oracle sells to businesses and governments, not consumers. Its largest revenue line is cloud services and license support: customers pay recurring fees for OCI compute, storage, GPUs and database services, for Fusion Cloud ERP, HCM, SCM and NetSuite subscriptions, and for annual support on licensed Oracle Database and middleware.
Growth strategy
Oracle's growth plan rests on renting AI training and inference capacity at very large scale. It is building data centers for OpenAI under the Stargate program (a partnership OpenAI describes as over $300 billion across five years and up to 4.5 gigawatts), and it also serves xAI, Meta, NVIDIA and AMD workloads.
Competitive advantage
Oracle's edge comes from its installed base. Oracle Database runs core financial, telecom and government systems, and moving those workloads is slow, expensive and risky, which keeps support revenue recurring. OCI adds a price-performance pitch built on bare-metal servers and RDMA networking for large GPU clusters, and Oracle can offer the same database inside rival clouds.
Questions about Boeing vs Oracle
Which company has higher revenue — The Boeing Company or Oracle Corporation?
The Boeing Company reported $89.5B (FY2025), while Oracle Corporation reported $67.4B (FY2026). By last reported revenue, The Boeing Company is the larger business, with Oracle Corporation reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of The Boeing Company vs Oracle Corporation?
The Boeing Company's market capitalisation stands at $148.0B, while Oracle Corporation's is $393.6B. Oracle Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to The Boeing Company.
Which is more financially efficient — The Boeing Company or Oracle Corporation?
The Boeing Company generates $492k / employee in revenue per employee, while Oracle Corporation generates $478k / employee. The Boeing Company shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do The Boeing Company and Oracle Corporation make money?
The Boeing Company and Oracle Corporation generate revenue in fundamentally different ways. The Boeing Company: Boeing earns money in three segments. Oracle Corporation: Oracle sells to businesses and governments, not consumers.
Which company is valued higher relative to revenue — The Boeing Company or Oracle Corporation?
On a price-to-sales (P/S) basis, The Boeing Company trades at 1.7x P/S and Oracle Corporation at 5.8x P/S. Oracle Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to The Boeing Company. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is The Boeing Company bigger than Oracle Corporation?
By last reported revenue, The Boeing Company ($89.5B (FY2025)) is the larger company compared to Oracle Corporation ($67.4B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Boeing vs Oracle overview