SAP Stock Analysis: SAP SE | XETRA
Software - Application | XETRA, Germany | Market Cap: 248.558m EUR | 12M Return: -9.9% | DE0007164600 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 374M
EPS Trend: 95.9%
Qual. Beats: 0
Rev. Trend: 99.5%
Qual. Beats: 1
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 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 global provider of enterprise application and business solutions, offering a broad software portfolio that spans finance, procurement, supply chain, HR, customer experience, and business process management. The company operates across multiple product families, including SAP Business AI, SAP S/4HANA, SAP SuccessFactors, SAP Business Technology Platform, and SAP Business Network, and complements these with process optimization tools such as SAP Signavio and SAP LeanIX. It also delivers services, support, and sustainability solutions. SAP has strategic collaborations with Fresenius and Avelios Medical to develop a cloud-native hospital information system with AI integration, and was founded in 1972, headquartered in Walldorf, Germany.
As a mega-cap company in the Application Software sub-industry, SAP is one of the largest enterprise software vendors globally, competing primarily with peers such as Oracle and Microsoft in core ERP and cloud business applications. The business model is heavily anchored in long-term enterprise contracts, with a strategic shift toward cloud-based subscription revenue through its RISE with SAP program, which helps customers migrate legacy on-premise systems to the cloud.
- Cloud revenue accelerates as S/4HANA adoption deepens
- Business AI integration drives enterprise contract value
- Euro and dollar FX shifts compress reported margins
- RISE with SAP migration backlog secures multi-year visibility
| Net Income: 8.04b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 2.54 > 1.0 |
| NWC/Revenue: 7.63% < 20% (prev 4.92%; Δ 2.71% < -1%) |
| CFO/TA 0.13 > 3% & CFO 9.87b > Net Income 8.04b |
| Net Debt (2.91b) to EBITDA (14.0b): 0.21 < 3 |
| Current Ratio: 1.16 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.16b) vs 12m ago -1.10% < -2% |
| Gross Margin: 72.77% > 18% (prev 73.55%; Δ -0.78% > 0.5%) |
| Asset Turnover: 54.43% > 50% (prev 53.36%; Δ 1.07% > 0%) |
| Interest Coverage Ratio: 10.01 > 6 (EBIT TTM 12.7b / Interest Expense TTM 1.27b) |
| A: 0.04 (Total Current Assets 22.1b - Total Current Liabilities 19.1b) / Total Assets 76.3b |
| B: 0.67 (Retained Earnings 50.8b / Total Assets 76.3b) |
| C: 0.18 (EBIT TTM 12.7b / Avg Total Assets 72.4b) |
| D: 1.54 (Book Value of Equity 45.9b / Total Liabilities 29.9b) |
| Altman-Z'' = 5.22 = AAA |
| DSRI: 1.16 (Receivables 7.78b/6.20b, Revenue 39.4b/36.5b) |
| GMI: 1.01 (GM 73.55% / 72.77%) |
| AQI: 0.99 (AQ_t 0.65 / AQ_t-1 0.66) |
| SGI: 1.08 (Revenue 39.4b / 36.5b) |
| TATA: -0.02 (NI 8.04b - CFO 9.87b) / TA 76.3b) |
| Beneish M = -2.84 (Cap -4..+1) = A |
As of October 25, 2026, the stock is trading at EUR 214.40 with a total of 2,055,601 shares traded. Over the past week, the price has changed by +7.62%, over one month by +14.98%, over three months by +67.08% and over the past year by -9.90%.
Current recommended Stop Loss: 206.80 (which is 3.5% or 1.3 ATR below the current price).
SAP SE has no consensus analysts rating.
P/E Trailing = 32.238
P/E Forward = 22.2222
P/S = 6.5081
P/B = 4.8101
P/EG = 1.6322
Revenue TTM = 39.4b EUR
EBIT TTM = 12.7b EUR
EBITDA TTM = 14.0b EUR
Long Term Debt = 4.19b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 2.05b EUR (from shortTermDebt, last quarter)
Debt = 12.3b EUR (from shortLongTermDebtTotal, last quarter) + Leases 1.68b
Net Debt = 2.91b EUR (calculated: Debt 12.3b - CCE 9.36b)
Enterprise Value = 251b EUR (249b + Debt 12.3b - CCE 9.36b)
Interest Coverage Ratio = 10.01 (Ebit TTM 12.7b / Interest Expense TTM 1.27b)
EV/FCF = 27.42x (Enterprise Value 251b / FCF TTM 9.17b)
FCF Yield = 3.65% (FCF TTM 9.17b / Enterprise Value 251b)
FCF Margin = 23.28% (FCF TTM 9.17b / Revenue TTM 39.4b)
Net Margin = 20.42% (Net Income TTM 8.04b / Revenue TTM 39.4b)
Gross Margin = 72.77% ((Revenue TTM 39.4b - Cost of Revenue TTM 10.7b) / Revenue TTM)
Gross Margin QoQ = 73.45% (prev 73.17%)
Tobins Q-Ratio = 3.29 (Enterprise Value 251b / Total Assets 76.3b)
Interest Expense / Debt = 10.34% (Interest Expense 1.27b / Debt 12.3b)
Taxrate = 28.30% (3.20b / 11.3b)
NOPAT = 9.11b (EBIT 12.7b * (1 - 28.30%))
Current Ratio = 1.16 (Total Current Assets 22.1b / Total Current Liabilities 19.1b)
Debt / Equity = 0.27 (Debt 12.3b / totalStockholderEquity, last quarter 45.9b)
Debt / EBITDA = 0.21 (Net Debt 2.91b / EBITDA 14.0b)
Debt / FCF = 0.32 (Net Debt 2.91b / FCF TTM 9.17b)
Total Stockholder Equity = 45.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.11% (Net Income 8.04b / Total Assets 76.3b)
RoE = 17.71% (Net Income TTM 8.04b / Total Stockholder Equity 45.4b)
RoCE = 25.61% (EBIT 12.7b / Capital Employed (Equity 45.4b + L.T.Debt 4.19b))
RoIC = 15.89% (NOPAT 9.11b / Invested Capital 57.3b)
WACC = 6.72% (E(249b)/V(261b) * Re(6.69%) + D(12.3b)/V(261b) * Rd(10.34%) * (1-Tc(0.28)))
Discount Rate = 6.69% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -66.51 | Cagr: -0.19%
[DCF] Terminal Value 77.97% ; FCFF base≈8.09b ; Y1≈9.28b ; Y5≈13.7b
[DCF] Fair Price = 175.5 (EV 206b - Net Debt 2.91b = Equity 203b / Shares 1.15b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 95.90 | EPS CAGR: 19.38% | SUE: 0.61 | # QB: 0
Revenue Correlation: 99.49 | Revenue CAGR: 8.59% | SUE: 1.36 | # QB: 1
EPS current Quarter (2027-03-31): EPS=1.98 | Chg30d=+1.39% | Revisions=+0% | Analysts=4
EPS current Year (2026-12-31): EPS=7.12 | Chg30d=-0.29% | Revisions=-38% | GrowthEPS=+15.7% | GrowthRev=+9.8%
EPS next Year (2027-12-31): EPS=8.43 | Chg30d=+0.75% | Revisions=-12% | GrowthEPS=+18.5% | GrowthRev=+11.7%
[Analyst] Revisions Ratio: -27% (up=4, down=8)