From fiscal 2013 to fiscal 2023, Oracle's revenue only grew at a CAGR of 3% - while its constant buybacks boosted its adjusted earnings per share (EPS) at a higher CAGR of 7%. That target might seem achievable relative to Oracle's growth rates over the past 30 years, but its growth has actually cooled down significantly over the past decade. Assuming its valuations remain stable, it would need to grow its earnings at a CAGR of 12% over the next 30 years to turn that investment into $1 million. Let's say you missed Oracle's previous rally but plan to invest $30,000 in the company today. Those shareholder-friendly strategies turned it into a mature tech stock which is often owned for stability instead of growth - but could it deliver more millionaire-making gains in the future? The mathematical path toward another million dollars It also started paying dividends in 2009. As Oracle grew, its free cash flow soared and enabled it to buy back more than half of its shares over the past three decades.
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