Oracle vs Roche: Revenue, Profit and Business Model
Oracle reported $67.4B of revenue in FY2026 and $17.1B of net income. Roche reported ~$76B of revenue in FY2025 and ~$15.5B of net income.
Latest financial snapshot
Financial summary
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.
Roche
Roche's 2025 group sales were ~$73.8 billion (CHF 61.5 billion), up 7% at constant exchange rates but only 2% in Swiss francs. Core operating profit grew 13% CER to ~$26.2 billion (CHF 21.8 billion), core EPS was CHF 19.46, and IFRS net income jumped to ~$16.6 billion (CHF 13.8 billion) from ~$11 billion (CHF 9.2 billion) in 2024, when impairments depressed profit. In H1 2026 core operating margin widened 1.7 points to 39.0%, while a strong franc pushed reported sales down 2%. The board raised the dividend to CHF 9.80, the 39th consecutive increase, and guided for mid-single-digit CER sales growth and high-single-digit core EPS growth in 2026.
Revenue and profit by year
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
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.
Roche
- Prescription medicines
- Biologics and oncology drugs
- Diagnostic instruments
- Diagnostic reagents and tests
- Sequencing and molecular diagnostics
- Clinical data and companion diagnostics
Business model and strategy
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.
Roche
How it makes money
Roche makes money in two ways. The Pharmaceuticals Division (~$57.2 billion (CHF 47.7 billion) in 2025) sells patented medicines, mostly biologics, in oncology, neuroscience, immunology, ophthalmology and haemophilia; top growth drivers in 2025 were Phesgo, Xolair, Ocrevus, Hemlibra and Vabysmo.
Growth strategy
Roche is building a cardiovascular, renal and metabolic franchise through acquisitions of Carmot Therapeutics (2023, $2.7 billion upfront) and 89bio (2025, up to about $3.5 billion), the petrelintide partnership with Zealand Pharma, and a new Innovation Center in Boston opened in September 2026.
Competitive advantage
Roche's edge comes from three things: scale in both drugs and diagnostics, a long-horizon ownership structure, and a federated R&D model. The Hoffmann and Oeri family pool holds the majority of voting shares, which shields management from takeover pressure.
Questions about Oracle vs Roche
Which company has higher revenue — Oracle Corporation or F. Hoffmann-La Roche AG?
Oracle Corporation reported $67.4B (FY2026), while F. Hoffmann-La Roche AG reported ~$76B (FY2025). By last reported revenue, F. Hoffmann-La Roche AG 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 Oracle Corporation vs F. Hoffmann-La Roche AG?
Oracle Corporation's market capitalisation stands at $393.6B, while F. Hoffmann-La Roche AG's is $355.0B. Oracle Corporation carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to F. Hoffmann-La Roche AG.
Which is more financially efficient — Oracle Corporation or F. Hoffmann-La Roche AG?
Oracle Corporation generates $478k / employee in revenue per employee, while F. Hoffmann-La Roche AG generates $674k / employee. F. Hoffmann-La Roche AG 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 Oracle Corporation and F. Hoffmann-La Roche AG make money?
Oracle Corporation and F. Hoffmann-La Roche AG generate revenue in fundamentally different ways. Oracle Corporation: Oracle sells to businesses and governments, not consumers. F. Hoffmann-La Roche AG: Roche makes money in two ways.
Which company is valued higher relative to revenue — Oracle Corporation or F. Hoffmann-La Roche AG?
On a price-to-sales (P/S) basis, Oracle Corporation trades at 5.8x P/S and F. Hoffmann-La Roche AG at 4.7x P/S. Oracle Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to F. Hoffmann-La Roche AG. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Oracle Corporation bigger than F. Hoffmann-La Roche AG?
By last reported revenue, F. Hoffmann-La Roche AG (~$76B (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 Oracle vs Roche overview