Finance and funding

The key financial objectives of the University are to provide the long-term resources to strengthen and further its pre-eminent position – nationally and internationally – as a place of outstanding learning, teaching, and research; and to enable it to provide additional support to its three core priorities of students, academic posts, and buildings.

Download the Financial Statements 2024-25 (PDF). The Financial Review starts on page 40.

Education

	% change year on year		% change year on year
13,650 Postgraduate students	-1.9%	NEW Access and Participation plan approved	-
12,375 Undergraduate students	-0.8%	25.9% of undergraduates admitted during 2024/25 UCAS cycle are from the most disadvantaged backgrounds¹	+0.2%
1 ACORN categories 5 and 6, IMD quintile 1 or 2 and Free School Meals.

Research

	% change year on year		% change year on year
£801.3m Research income	+2.9%	1st in the Times Higher Education World University Rankings (10th time running)	-
£142.2m Research income from industry	-3.9%	7,604 Research-related agreements executed	+1%

Educational Publishing (undertaken by the Press)

	% change year on year		% change year on year
£733.2m Educational publishing income	-1.8%	£104.7m Operating profit	+5.4%
more than 187 million visits to Oxford Academic research platform	up from 180m last year	90 Major academic publishing awards won	up from 71 last year

Engagement and Partnership

	% change year on year		% change year on year
1,555 participants in the UNIQ 2024/25 programme	up from 1,321 last year	1,654 Students from low-income backgrounds supported by Crankstart scholarships	+0.7%
1,054 participants in our Opportunity Oxford bridging programme		187 Active spinout companies	-4.5%

Financial Measures

Income
£3,021.2m

Adjusted surplus

before other gains and one-off exceptional items

£118.1m

Surplus 2025

Net Assets
£6,903.7m

Capital expenditure on property, plant and equipment
£220.8m

Colleges

The colleges of Oxford University (apart from Kellogg, St Cross and Reuben) are financially autonomous. In 2022–23, the aggregate annual incoming resources (including donations for capital projects or endowment) of these 36 colleges amounted to £668.5m. The three main sources of income are teaching, research and residential (38% of the aggregate income), legacies and donations (27%), and investment income (28%).

Other income derives mostly from trading activity such as vacation conferences.

Total resources expended amounted to about £578m in 2022/23; 82% of this expenditure was directly attributed to core activities, including teaching, research and residential services. The balance is split between the costs of fundraising, running trading activities such as conferences and tourism, and investment management costs.

Endowments

The University has endowment reserves of £1.9bn. Individual colleges have their own endowment assets, which amount to £6.4 bn.

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