SAP Stock Analysis: SAP SE | XETRA
Software - Application | XETRA, Germany | Market Cap: 165.466m EUR | 12M Return: -45% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 404M
EPS Trend: 95.6%
Qual. Beats: 0
Rev. Trend: 99.0%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
SAP SE is a Germany-based enterprise software company headquartered in Walldorf and founded in 1972. It provides a broad portfolio of business applications and platforms worldwide, serving functions across finance, HR, supply chain, procurement, customer experience, and business process management. Core offerings include SAP S/4HANA for enterprise resource planning (ERP), SAP SuccessFactors for human capital management, the SAP Business Technology platform for application development and integration, and the SAP Business Network for B2B collaboration. SAP also offers adjacent tools such as Signavio for process analysis, LeanIX for enterprise architecture management, WalkMe for workflow guidance, and Taulia for working capital management.
As a large-cap player in the application software segment of the IT sector, SAP generates revenue primarily through software licensing, subscriptions (particularly cloud-based), and related services and support. The industry has shifted substantially toward cloud delivery models, in line with SAPs emphasis on cloud-enabled platforms and its embedded Business AI capabilities. SAP also maintains strategic collaborations, including a partnership with Fresenius and Avelios Medical to co-develop a cloud-native hospital information system with integrated AI for clinical and administrative workflows.
- Cloud revenue mix shift drives double-digit growth
- Operating margin expansion program targets 2025 milestone
- Business AI adoption lifts enterprise contract values
| Net Income: 7.48b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 3.70 > 1.0 |
| NWC/Revenue: 3.84% < 20% (prev 9.72%; Δ -5.88% < -1%) |
| CFO/TA 0.12 > 3% & CFO 8.84b > Net Income 7.48b |
| Net Debt (-290.0m) to EBITDA (13.4b): -0.02 < 3 |
| Current Ratio: 1.07 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.17b) vs 12m ago -0.76% < -2% |
| Gross Margin: 73.20% > 18% (prev 73.34%; Δ -0.14% > 0.5%) |
| Asset Turnover: 50.09% > 50% (prev 46.48%; Δ 3.62% > 0%) |
| Interest Coverage Ratio: 8.75 > 6 (EBIT TTM 12.1b / Interest Expense TTM 1.39b) |
| A: 0.02 (Total Current Assets 22.3b - Total Current Liabilities 20.8b) / Total Assets 73.5b |
| B: 0.67 (Retained Earnings 49.3b / Total Assets 73.5b) |
| C: 0.16 (EBIT TTM 12.1b / Avg Total Assets 74.5b) |
| D: 1.60 (Book Value of Equity 44.9b / Total Liabilities 28.1b) |
| Altman-Z'' = 5.09 = AAA |
| DSRI: 1.00 (Receivables 9.03b/8.51b, Revenue 37.3b/35.1b) |
| GMI: 1.00 (GM 73.34% / 73.20%) |
| AQI: 1.02 (AQ_t 0.64 / AQ_t-1 0.62) |
| SGI: 1.06 (Revenue 37.3b / 35.1b) |
| TATA: -0.02 (NI 7.48b - CFO 8.84b) / TA 73.5b) |
| Beneish M = -2.97 (Cap -4..+1) = A |
As of July 04, 2026, the stock is trading at EUR 139.64 with a total of 1,384,012 shares traded. Over the past week, the price has changed by +3.33%, over one month by -10.45%, over three months by -2.21% and over the past year by -45.00%.
Current recommended Stop Loss: 132.50 (which is 5.1% or 1.3 ATR below the current price).
SAP SE has no consensus analysts rating.
P/E Trailing = 22.7115
P/E Forward = 19.1205
P/S = 4.4311
P/B = 3.6666
P/EG = 1.4099
Revenue TTM = 37.3b EUR
EBIT TTM = 12.1b EUR
EBITDA TTM = 13.4b EUR
Long Term Debt = 4.19b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 2.05b EUR (from shortTermDebt, last fiscal year)
Debt = 9.76b EUR (from shortLongTermDebtTotal, last fiscal year) + Leases 1.68b
Net Debt = -290.0m EUR (calculated: Debt 9.76b - CCE 10.0b)
Enterprise Value = 165b EUR (165b + Debt 9.76b - CCE 10.0b)
Interest Coverage Ratio = 8.75 (Ebit TTM 12.1b / Interest Expense TTM 1.39b)
EV/FCF = 20.58x (Enterprise Value 165b / FCF TTM 8.03b)
FCF Yield = 4.86% (FCF TTM 8.03b / Enterprise Value 165b)
FCF Margin = 21.50% (FCF TTM 8.03b / Revenue TTM 37.3b)
Net Margin = 20.03% (Net Income TTM 7.48b / Revenue TTM 37.3b)
Gross Margin = 73.20% ((Revenue TTM 37.3b - Cost of Revenue TTM 10.0b) / Revenue TTM)
Gross Margin QoQ = 72.98% (prev 73.01%)
Tobins Q-Ratio = 2.25 (Enterprise Value 165b / Total Assets 73.5b)
Interest Expense / Debt = 14.24% (Interest Expense 1.39b / Debt 9.76b)
Taxrate = 28.98% (3.12b / 10.8b)
NOPAT = 8.63b (EBIT 12.1b * (1 - 28.98%))
Current Ratio = 1.07 (Total Current Assets 22.3b / Total Current Liabilities 20.8b)
Debt / Equity = 0.22 (Debt 9.76b / totalStockholderEquity, last quarter 44.9b)
Debt / EBITDA = -0.02 (Net Debt -290.0m / EBITDA 13.4b)
Debt / FCF = -0.04 (Net Debt -290.0m / FCF TTM 8.03b)
Total Stockholder Equity = 43.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.03% (Net Income 7.48b / Total Assets 73.5b)
RoE = 17.25% (Net Income TTM 7.48b / Total Stockholder Equity 43.4b)
RoCE = 25.55% (EBIT 12.1b / Capital Employed (Equity 43.4b + L.T.Debt 4.19b))
RoIC = 16.33% (NOPAT 8.63b / Invested Capital 52.8b)
WACC = 7.83% (E(165b)/V(175b) * Re(7.70%) + D(9.76b)/V(175b) * Rd(14.24%) * (1-Tc(0.29)))
Discount Rate = 7.70% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -52.29 | Cagr: -0.38%
[DCF] Terminal Value 77.97% ; FCFF base≈7.00b ; Y1≈8.03b ; Y5≈11.8b
[DCF] Fair Price = 152.5 (EV 178b - Net Debt -290.0m = Equity 178b / Shares 1.17b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 95.63 | EPS CAGR: 19.86% | SUE: 0.47 | # QB: 0
Revenue Correlation: 98.98 | Revenue CAGR: 8.04% | SUE: 0.00 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.75 | Chg30d=-0.13% | Revisions=+30% | Analysts=5
EPS next Quarter (2026-09-30): EPS=1.77 | Chg30d=-0.19% | Revisions=+30% | Analysts=4
EPS current Year (2026-12-31): EPS=7.24 | Chg30d=-0.28% | Revisions=+64% | GrowthEPS=+17.6% | GrowthRev=+9.1%
EPS next Year (2027-12-31): EPS=8.45 | Chg30d=-0.38% | Revisions=+77% | GrowthEPS=+16.8% | GrowthRev=+11.6%
[Analyst] Revisions Ratio: +66% (up=30, down=5)