SAP SE (SAP.DE) Fundamental Analysis & Valuation

FRA:SAP • DE0007164600

Current stock price

166.44 EUR
-0.58 (-0.35%)
Last:

This SAP.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. SAP.DE Profitability Analysis

1.1 Basic Checks

  • SAP had positive earnings in the past year.
  • In the past year SAP had a positive cash flow from operations.
  • In the past 5 years SAP has always been profitable.
  • Each year in the past 5 years SAP had a positive operating cash flow.
SAP.DE Yearly Net Income VS EBIT VS OCF VS FCFSAP.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 10.41%, SAP is in the better half of the industry, outperforming 79.82% of the companies in the same industry.
  • SAP has a better Return On Equity (16.37%) than 70.18% of its industry peers.
  • SAP's Return On Invested Capital of 13.43% is amongst the best of the industry. SAP outperforms 81.58% of its industry peers.
  • SAP had an Average Return On Invested Capital over the past 3 years of 10.61%. This is below the industry average of 12.77%.
  • The 3 year average ROIC (10.61%) for SAP is below the current ROIC(13.43%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 10.41%
ROE 16.37%
ROIC 13.43%
ROA(3y)7.87%
ROA(5y)6.83%
ROE(3y)12.49%
ROE(5y)11.34%
ROIC(3y)10.61%
ROIC(5y)9.31%
SAP.DE Yearly ROA, ROE, ROICSAP.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • SAP has a Profit Margin of 19.91%. This is amongst the best in the industry. SAP outperforms 80.70% of its industry peers.
  • SAP's Profit Margin has been stable in the last couple of years.
  • Looking at the Operating Margin, with a value of 28.17%, SAP belongs to the top of the industry, outperforming 85.09% of the companies in the same industry.
  • In the last couple of years the Operating Margin of SAP has remained more or less at the same level.
  • With a Gross Margin value of 73.62%, SAP perfoms like the industry average, outperforming 50.88% of the companies in the same industry.
  • In the last couple of years the Gross Margin of SAP has remained more or less at the same level.
Industry RankSector Rank
OM 28.17%
PM (TTM) 19.91%
GM 73.62%
OM growth 3Y8.24%
OM growth 5Y1.17%
PM growth 3Y37.04%
PM growth 5Y1.13%
GM growth 3Y0.25%
GM growth 5Y0.42%
SAP.DE Yearly Profit, Operating, Gross MarginsSAP.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. SAP.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SAP is creating some value.
  • The number of shares outstanding for SAP remains at a similar level compared to 1 year ago.
  • SAP has less shares outstanding than it did 5 years ago.
  • SAP has a better debt/assets ratio than last year.
SAP.DE Yearly Shares OutstandingSAP.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M 1B
SAP.DE Yearly Total Debt VS Total AssetsSAP.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20B 40B 60B

2.2 Solvency

  • SAP has an Altman-Z score of 6.55. This indicates that SAP is financially healthy and has little risk of bankruptcy at the moment.
  • With an excellent Altman-Z score value of 6.55, SAP belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
  • The Debt to FCF ratio of SAP is 0.96, which is an excellent value as it means it would take SAP, only 0.96 years of fcf income to pay off all of its debts.
  • SAP has a better Debt to FCF ratio (0.96) than 78.95% of its industry peers.
  • A Debt/Equity ratio of 0.13 indicates that SAP is not too dependend on debt financing.
  • SAP has a Debt to Equity ratio of 0.13. This is in the better half of the industry: SAP outperforms 67.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.13
Debt/FCF 0.96
Altman-Z 6.55
ROIC/WACC1.73
WACC7.75%
SAP.DE Yearly LT Debt VS Equity VS FCFSAP.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

2.3 Liquidity

  • A Current Ratio of 1.17 indicates that SAP should not have too much problems paying its short term obligations.
  • The Current ratio of SAP (1.17) is worse than 65.79% of its industry peers.
  • A Quick Ratio of 1.17 indicates that SAP should not have too much problems paying its short term obligations.
  • SAP has a Quick ratio of 1.17. This is in the lower half of the industry: SAP underperforms 64.04% of its industry peers.
Industry RankSector Rank
Current Ratio 1.17
Quick Ratio 1.17
SAP.DE Yearly Current Assets VS Current LiabilitesSAP.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5B 10B 15B 20B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. SAP.DE Growth Analysis

3.1 Past

  • SAP shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 35.76%, which is quite impressive.
  • SAP shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.60% yearly.
  • The Revenue has been growing slightly by 7.67% in the past year.
  • The Revenue has been growing slightly by 6.12% on average over the past years.
EPS 1Y (TTM)35.76%
EPS 3Y14.85%
EPS 5Y2.6%
EPS Q2Q%16.55%
Revenue 1Y (TTM)7.67%
Revenue growth 3Y7.62%
Revenue growth 5Y6.12%
Sales Q2Q%3.27%

3.2 Future

  • SAP is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.34% yearly.
  • The Revenue is expected to grow by 13.18% on average over the next years. This is quite good.
EPS Next Y18.8%
EPS Next 2Y17.92%
EPS Next 3Y16.97%
EPS Next 5Y18.34%
Revenue Next Year8.93%
Revenue Next 2Y10.49%
Revenue Next 3Y10.89%
Revenue Next 5Y13.18%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
SAP.DE Yearly Revenue VS EstimatesSAP.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 20B 40B 60B 80B
SAP.DE Yearly EPS VS EstimatesSAP.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5 10 15 20

More info and screens

Find the best growth stocksShow best growing peers

4

4. SAP.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 27.06, SAP can be considered very expensive at the moment.
  • SAP's Price/Earnings ratio is a bit cheaper when compared to the industry. SAP is cheaper than 64.91% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 25.71. SAP is around the same levels.
  • SAP is valuated rather expensively with a Price/Forward Earnings ratio of 22.78.
  • SAP's Price/Forward Earnings ratio is in line with the industry average.
  • SAP's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 23.83.
Industry RankSector Rank
PE 27.06
Fwd PE 22.78
SAP.DE Price Earnings VS Forward Price EarningsSAP.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SAP indicates a somewhat cheap valuation: SAP is cheaper than 60.53% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, SAP is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 23.03
EV/EBITDA 16.32
SAP.DE Per share dataSAP.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • SAP's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • SAP has a very decent profitability rating, which may justify a higher PE ratio.
  • SAP's earnings are expected to grow with 16.97% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.44
PEG (5Y)10.42
EPS Next 2Y17.92%
EPS Next 3Y16.97%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. SAP.DE Dividend Analysis

5.1 Amount

  • SAP has a Yearly Dividend Yield of 1.50%.
  • The stock price of SAP dropped by -20.06% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • Compared to an average industry Dividend Yield of 0.78, SAP pays a better dividend. On top of this SAP pays more dividend than 85.09% of the companies listed in the same industry.
  • Compared to the average S&P500 Dividend Yield of 1.91, SAP is paying slightly less dividend.
Industry RankSector Rank
Dividend Yield 1.5%

5.2 History

  • The dividend of SAP is nicely growing with an annual growth rate of 8.40%!
Dividend Growth(5Y)8.4%
Div Incr Years1
Div Non Decr Years6
SAP.DE Yearly Dividends per shareSAP.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2

5.3 Sustainability

  • SAP pays out 37.44% of its income as dividend. This is a sustainable payout ratio.
  • SAP's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP37.44%
EPS Next 2Y17.92%
EPS Next 3Y16.97%
SAP.DE Yearly Income VS Free CF VS DividendSAP.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B
SAP.DE Dividend Payout.SAP.DE Dividend Payout, showing the Payout Ratio.SAP.DE Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

SAP.DE Fundamentals: All Metrics, Ratios and Statistics

SAP SE

FRA:SAP (3/13/2026, 7:00:00 PM)

166.44

-0.58 (-0.35%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)01-29
Earnings (Next)04-23
Inst Owners40.01%
Inst Owner ChangeN/A
Ins Owners8.07%
Ins Owner ChangeN/A
Market Cap193.84B
Revenue(TTM)36.80B
Net Income(TTM)7.33B
Analysts77.56
Price Target252.96 (51.98%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.5%
Yearly Dividend2.35
Dividend Growth(5Y)8.4%
DP37.44%
Div Incr Years1
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)3.87%
Min EPS beat(2)3.69%
Max EPS beat(2)4.05%
EPS beat(4)4
Avg EPS beat(4)4.8%
Min EPS beat(4)1.63%
Max EPS beat(4)9.81%
EPS beat(8)5
Avg EPS beat(8)-1.12%
EPS beat(12)8
Avg EPS beat(12)13.78%
EPS beat(16)8
Avg EPS beat(16)6.36%
Revenue beat(2)0
Avg Revenue beat(2)-1.88%
Min Revenue beat(2)-1.96%
Max Revenue beat(2)-1.8%
Revenue beat(4)0
Avg Revenue beat(4)-1.77%
Min Revenue beat(4)-1.96%
Max Revenue beat(4)-1.6%
Revenue beat(8)1
Avg Revenue beat(8)-0.88%
Revenue beat(12)3
Avg Revenue beat(12)-0.79%
Revenue beat(16)3
Avg Revenue beat(16)-1.45%
PT rev (1m)-1.84%
PT rev (3m)-13.74%
EPS NQ rev (1m)-0.4%
EPS NQ rev (3m)3.65%
EPS NY rev (1m)0.77%
EPS NY rev (3m)1.07%
Revenue NQ rev (1m)-0.02%
Revenue NQ rev (3m)-2.03%
Revenue NY rev (1m)-1.83%
Revenue NY rev (3m)-2.19%
Valuation
Industry RankSector Rank
PE 27.06
Fwd PE 22.78
P/S 5.27
P/FCF 23.03
P/OCF 21.17
P/B 4.33
P/tB 14.41
EV/EBITDA 16.32
EPS(TTM)6.15
EY3.7%
EPS(NY)7.31
Fwd EY4.39%
FCF(TTM)7.23
FCFY4.34%
OCF(TTM)7.86
OCFY4.72%
SpS31.6
BVpS38.43
TBVpS11.55
PEG (NY)1.44
PEG (5Y)10.42
Graham Number72.92
Profitability
Industry RankSector Rank
ROA 10.41%
ROE 16.37%
ROCE 19.52%
ROIC 13.43%
ROICexc 16.45%
ROICexgc 59.21%
OM 28.17%
PM (TTM) 19.91%
GM 73.62%
FCFM 22.87%
ROA(3y)7.87%
ROA(5y)6.83%
ROE(3y)12.49%
ROE(5y)11.34%
ROIC(3y)10.61%
ROIC(5y)9.31%
ROICexc(3y)13.63%
ROICexc(5y)11.8%
ROICexgc(3y)62.47%
ROICexgc(5y)55.44%
ROCE(3y)15.47%
ROCE(5y)13.63%
ROICexgc growth 3Y5.44%
ROICexgc growth 5Y0.02%
ROICexc growth 3Y18.72%
ROICexc growth 5Y5.54%
OM growth 3Y8.24%
OM growth 5Y1.17%
PM growth 3Y37.04%
PM growth 5Y1.13%
GM growth 3Y0.25%
GM growth 5Y0.42%
F-Score9
Asset Turnover0.52
Health
Industry RankSector Rank
Debt/Equity 0.13
Debt/FCF 0.96
Debt/EBITDA 0.52
Cap/Depr 56.37%
Cap/Sales 2.01%
Interest Coverage 18.06
Cash Conversion 78.41%
Profit Quality 114.88%
Current Ratio 1.17
Quick Ratio 1.17
Altman-Z 6.55
F-Score9
WACC7.75%
ROIC/WACC1.73
Cap/Depr(3y)58.6%
Cap/Depr(5y)53.4%
Cap/Sales(3y)2.29%
Cap/Sales(5y)2.54%
Profit Quality(3y)115.61%
Profit Quality(5y)131.78%
High Growth Momentum
Growth
EPS 1Y (TTM)35.76%
EPS 3Y14.85%
EPS 5Y2.6%
EPS Q2Q%16.55%
EPS Next Y18.8%
EPS Next 2Y17.92%
EPS Next 3Y16.97%
EPS Next 5Y18.34%
Revenue 1Y (TTM)7.67%
Revenue growth 3Y7.62%
Revenue growth 5Y6.12%
Sales Q2Q%3.27%
Revenue Next Year8.93%
Revenue Next 2Y10.49%
Revenue Next 3Y10.89%
Revenue Next 5Y13.18%
EBIT growth 1Y27.11%
EBIT growth 3Y16.49%
EBIT growth 5Y7.37%
EBIT Next Year29.34%
EBIT Next 3Y19.55%
EBIT Next 5Y17.76%
FCF growth 1Y90.3%
FCF growth 3Y20.83%
FCF growth 5Y5.71%
OCF growth 1Y75.4%
OCF growth 3Y17.49%
OCF growth 5Y4.94%

SAP SE / SAP.DE Fundamental Analysis FAQ

What is the fundamental rating for SAP stock?

ChartMill assigns a fundamental rating of 6 / 10 to SAP.DE.


What is the valuation status for SAP stock?

ChartMill assigns a valuation rating of 4 / 10 to SAP SE (SAP.DE). This can be considered as Fairly Valued.


Can you provide the profitability details for SAP SE?

SAP SE (SAP.DE) has a profitability rating of 7 / 10.


What is the expected EPS growth for SAP SE (SAP.DE) stock?

The Earnings per Share (EPS) of SAP SE (SAP.DE) is expected to grow by 18.8% in the next year.


How sustainable is the dividend of SAP SE (SAP.DE) stock?

The dividend rating of SAP SE (SAP.DE) is 6 / 10 and the dividend payout ratio is 37.44%.