SAP SE (SAP.DE) Fundamental Analysis & Valuation
FRA:SAP • DE0007164600
Current stock price
148.96 EUR
+1.68 (+1.14%)
Last:
This SAP.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
1. SAP.DE Profitability Analysis
1.1 Basic Checks
- In the past year SAP was profitable.
- SAP had a positive operating cash flow in the past year.
- In the past 5 years SAP has always been profitable.
- In the past 5 years SAP always reported a positive cash flow from operatings.
1.2 Ratios
- With an excellent Return On Assets value of 10.18%, SAP belongs to the best of the industry, outperforming 81.25% of the companies in the same industry.
- Looking at the Return On Equity, with a value of 16.06%, SAP is in the better half of the industry, outperforming 71.43% of the companies in the same industry.
- SAP's Return On Invested Capital of 13.40% is amongst the best of the industry. SAP outperforms 82.14% of its industry peers.
- SAP had an Average Return On Invested Capital over the past 3 years of 10.60%. This is in line with the industry average of 12.42%.
- The last Return On Invested Capital (13.40%) for SAP is above the 3 year average (10.60%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.18% | ||
| ROE | 16.06% | ||
| ROIC | 13.4% |
ROA(3y)7.79%
ROA(5y)6.78%
ROE(3y)12.39%
ROE(5y)11.27%
ROIC(3y)10.6%
ROIC(5y)9.29%
1.3 Margins
- SAP has a better Profit Margin (19.46%) than 84.82% of its industry peers.
- In the last couple of years the Profit Margin of SAP has remained more or less at the same level.
- With an excellent Operating Margin value of 28.31%, SAP belongs to the best of the industry, outperforming 87.50% 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.
- SAP has a Gross Margin (73.77%) which is in line with its industry peers.
- SAP's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 28.31% | ||
| PM (TTM) | 19.46% | ||
| GM | 73.77% |
OM growth 3Y8.42%
OM growth 5Y1.28%
PM growth 3Y35.99%
PM growth 5Y0.67%
GM growth 3Y0.31%
GM growth 5Y0.46%
2. SAP.DE Health Analysis
2.1 Basic Checks
- The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SAP is still 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.
2.2 Solvency
- SAP has an Altman-Z score of 6.21. This indicates that SAP is financially healthy and has little risk of bankruptcy at the moment.
- The Altman-Z score of SAP (6.21) is better than 84.82% of its industry peers.
- The Debt to FCF ratio of SAP is 0.89, which is an excellent value as it means it would take SAP, only 0.89 years of fcf income to pay off all of its debts.
- The Debt to FCF ratio of SAP (0.89) is better than 80.36% of its industry peers.
- SAP has a Debt/Equity ratio of 0.14. This is a healthy value indicating a solid balance between debt and equity.
- The Debt to Equity ratio of SAP (0.14) is better than 65.18% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.14 | ||
| Debt/FCF | 0.89 | ||
| Altman-Z | 6.21 |
ROIC/WACC1.76
WACC7.62%
2.3 Liquidity
- A Current Ratio of 1.16 indicates that SAP should not have too much problems paying its short term obligations.
- Looking at the Current ratio, with a value of 1.16, SAP is doing worse than 66.07% of the companies in the same industry.
- A Quick Ratio of 1.16 indicates that SAP should not have too much problems paying its short term obligations.
- SAP has a worse Quick ratio (1.16) than 64.29% of its industry peers.
- The current and quick ratio evaluation for SAP is rather negative, while it does have excellent solvency and profitability. These ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.16 | ||
| Quick Ratio | 1.16 |
3. SAP.DE Growth Analysis
3.1 Past
- The Earnings Per Share has grown by an impressive 24.62% over the past year.
- 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 7.68% in the past year.
- Measured over the past years, SAP shows a small growth in Revenue. The Revenue has been growing by 6.12% on average per year.
EPS 1Y (TTM)24.62%
EPS 3Y14.85%
EPS 5Y2.6%
EPS Q2Q%19.47%
Revenue 1Y (TTM)7.68%
Revenue growth 3Y7.62%
Revenue growth 5Y6.12%
Sales Q2Q%6.18%
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 18.59% yearly.
- Based on estimates for the next years, SAP will show a quite strong growth in Revenue. The Revenue will grow by 10.55% on average per year.
EPS Next Y18.39%
EPS Next 2Y17.63%
EPS Next 3Y17.41%
EPS Next 5Y18.59%
Revenue Next Year8.81%
Revenue Next 2Y10.27%
Revenue Next 3Y10.69%
Revenue Next 5Y10.55%
3.3 Evolution
- When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
- 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.
4. SAP.DE Valuation Analysis
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 23.17, the valuation of SAP can be described as rather expensive.
- 74.11% of the companies in the same industry are more expensive than SAP, based on the Price/Earnings ratio.
- When comparing the Price/Earnings ratio of SAP to the average of the S&P500 Index (27.42), we can say SAP is valued inline with the index average.
- The Price/Forward Earnings ratio is 17.51, which indicates a rather expensive current valuation of SAP.
- Based on the Price/Forward Earnings ratio, SAP is valued a bit cheaper than the industry average as 68.75% of the companies are valued more expensively.
- The average S&P500 Price/Forward Earnings ratio is at 22.29. SAP is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.17 | ||
| Fwd PE | 17.51 |
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 65.18% of the companies listed in the same industry.
- SAP's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SAP is cheaper than 67.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 21.74 | ||
| EV/EBITDA | 15.05 |
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 an outstanding profitability rating, which may justify a higher PE ratio.
- A more expensive valuation may be justified as SAP's earnings are expected to grow with 17.41% in the coming years.
PEG (NY)1.26
PEG (5Y)8.92
EPS Next 2Y17.63%
EPS Next 3Y17.41%
5. SAP.DE Dividend Analysis
5.1 Amount
- SAP has a Yearly Dividend Yield of 1.78%.
- SAP's Dividend Yield is rather good when compared to the industry average which is at 0.74. SAP pays more dividend than 87.50% of the companies in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.81, SAP has a dividend comparable with the average S&P500 company.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.78% |
5.2 History
- The dividend of SAP is nicely growing with an annual growth rate of 8.39%!
Dividend Growth(5Y)8.39%
Div Incr Years2
Div Non Decr Years7
5.3 Sustainability
- SAP pays out 38.30% 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.
DP38.3%
EPS Next 2Y17.63%
EPS Next 3Y17.41%
SAP.DE Fundamentals: All Metrics, Ratios and Statistics
FRA:SAP (4/27/2026, 5:36:15 PM)
148.96
+1.68 (+1.14%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)04-23 2026-04-23/amc
Earnings (Next)07-23 2026-07-23/amc
Inst Owners38.98%
Inst Owner ChangeN/A
Ins Owners8.07%
Ins Owner ChangeN/A
Market Cap183.00B
Revenue(TTM)36.80B
Net Income(TTM)7.16B
Analysts76.59
Price Target241.78 (62.31%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.78% |
Yearly Dividend2.35
Dividend Growth(5Y)8.39%
DP38.3%
Div Incr Years2
Div Non Decr Years7
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)-4.42%
PT rev (3m)-16.49%
EPS NQ rev (1m)1.3%
EPS NQ rev (3m)3.57%
EPS NY rev (1m)-0.34%
EPS NY rev (3m)0.42%
Revenue NQ rev (1m)0.46%
Revenue NQ rev (3m)-1.3%
Revenue NY rev (1m)-0.11%
Revenue NY rev (3m)-1.94%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.17 | ||
| Fwd PE | 17.51 | ||
| P/S | 4.97 | ||
| P/FCF | 21.74 | ||
| P/OCF | 19.99 | ||
| P/B | 4.1 | ||
| P/tB | 13.77 | ||
| EV/EBITDA | 15.05 |
EPS(TTM)6.43
EY4.32%
EPS(NY)8.51
Fwd EY5.71%
FCF(TTM)6.85
FCFY4.6%
OCF(TTM)7.45
OCFY5%
SpS29.96
BVpS36.29
TBVpS10.82
PEG (NY)1.26
PEG (5Y)8.92
Graham Number72.4609 (-51.36%)
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.18% | ||
| ROE | 16.06% | ||
| ROCE | 19.68% | ||
| ROIC | 13.4% | ||
| ROICexc | 16.4% | ||
| ROICexgc | 57.86% | ||
| OM | 28.31% | ||
| PM (TTM) | 19.46% | ||
| GM | 73.77% | ||
| FCFM | 22.87% |
ROA(3y)7.79%
ROA(5y)6.78%
ROE(3y)12.39%
ROE(5y)11.27%
ROIC(3y)10.6%
ROIC(5y)9.29%
ROICexc(3y)13.16%
ROICexc(5y)11.52%
ROICexgc(3y)50.63%
ROICexgc(5y)48.33%
ROCE(3y)15.52%
ROCE(5y)13.66%
ROICexgc growth 3Y4.2%
ROICexgc growth 5Y-0.69%
ROICexc growth 3Y18.46%
ROICexc growth 5Y5.4%
OM growth 3Y8.42%
OM growth 5Y1.28%
PM growth 3Y35.99%
PM growth 5Y0.67%
GM growth 3Y0.31%
GM growth 5Y0.46%
F-Score9
Asset Turnover0.52
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.14 | ||
| Debt/FCF | 0.89 | ||
| Debt/EBITDA | 0.52 | ||
| Cap/Depr | 56.37% | ||
| Cap/Sales | 2.01% | ||
| Interest Coverage | 18.15 | ||
| Cash Conversion | 78.06% | ||
| Profit Quality | 117.54% | ||
| Current Ratio | 1.16 | ||
| Quick Ratio | 1.16 | ||
| Altman-Z | 6.21 |
F-Score9
WACC7.62%
ROIC/WACC1.76
Cap/Depr(3y)58.6%
Cap/Depr(5y)53.4%
Cap/Sales(3y)2.29%
Cap/Sales(5y)2.54%
Profit Quality(3y)116.35%
Profit Quality(5y)132.22%
High Growth Momentum
Growth
EPS 1Y (TTM)24.62%
EPS 3Y14.85%
EPS 5Y2.6%
EPS Q2Q%19.47%
EPS Next Y18.39%
EPS Next 2Y17.63%
EPS Next 3Y17.41%
EPS Next 5Y18.59%
Revenue 1Y (TTM)7.68%
Revenue growth 3Y7.62%
Revenue growth 5Y6.12%
Sales Q2Q%6.18%
Revenue Next Year8.81%
Revenue Next 2Y10.27%
Revenue Next 3Y10.69%
Revenue Next 5Y10.55%
EBIT growth 1Y27.76%
EBIT growth 3Y16.68%
EBIT growth 5Y7.48%
EBIT Next Year28.79%
EBIT Next 3Y19.32%
EBIT Next 5Y17.6%
FCF growth 1Y90.91%
FCF growth 3Y20.83%
FCF growth 5Y5.71%
OCF growth 1Y75.87%
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 7 / 10 to SAP.DE.
What is the valuation status for SAP stock?
ChartMill assigns a valuation rating of 5 / 10 to SAP SE (SAP.DE). This can be considered as Fairly Valued.
What is the profitability of SAP stock?
SAP SE (SAP.DE) has a profitability rating of 8 / 10.
What is the valuation of SAP SE based on its PE and PB ratios?
The Price/Earnings (PE) ratio for SAP SE (SAP.DE) is 23.17 and the Price/Book (PB) ratio is 4.1.
How financially healthy is SAP SE?
The financial health rating of SAP SE (SAP.DE) is 8 / 10.