SAP Stock Analysis: SAP SE | XETRA
Software - Application | XETRA, Germany | Market Cap: 215.536m EUR | 12M Return: -18.1% | DE0007164600 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 357M
EPS Trend: 95.6%
Qual. Beats: -1
Rev. Trend: 99.3%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
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: 7.80b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 2.16 > 1.0 |
| NWC/Revenue: 7.63% < 20% (prev 1.64%; Δ 5.99% < -1%) |
| CFO/TA 0.13 > 3% & CFO 9.46b > Net Income 7.80b |
| Net Debt (-1.87b) to EBITDA (14.0b): -0.13 < 3 |
| Current Ratio: 1.15 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.16b) vs 12m ago -1.27% < -2% |
| Gross Margin: 72.76% > 18% (prev 73.51%; Δ -0.75% > 0.5%) |
| Asset Turnover: 53.04% > 50% (prev 52.47%; Δ 0.58% > 0%) |
| Interest Coverage Ratio: 9.82 > 6 (EBIT TTM 12.7b / Interest Expense TTM 1.29b) |
| A: 0.04 (Total Current Assets 22.6b - Total Current Liabilities 19.7b) / Total Assets 75.6b |
| B: 0.64 (Retained Earnings 48.6b / Total Assets 75.6b) |
| C: 0.18 (EBIT TTM 12.7b / Avg Total Assets 72.0b) |
| D: 1.49 (Book Value of Equity 45.2b / Total Liabilities 30.4b) |
| Altman-Z'' = 5.10 = AAA |
| DSRI: 1.07 (Receivables 7.76b/6.81b, Revenue 38.2b/35.9b) |
| GMI: 1.01 (GM 73.51% / 72.76%) |
| AQI: 0.99 (AQ_t 0.64 / AQ_t-1 0.65) |
| SGI: 1.06 (Revenue 38.2b / 35.9b) |
| TATA: -0.02 (NI 7.80b - CFO 9.46b) / TA 75.6b) |
| Beneish M = -2.92 (Cap -4..+1) = A |
As of October 11, 2026, the stock is trading at EUR 191.46 with a total of 2,366,933 shares traded. Over the past week, the price has changed by +4.10%, over one month by +4.70%, over three months by +39.00% and over the past year by -18.12%.
Current recommended Stop Loss: 182.80 (which is 4.5% or 1.6 ATR below the current price).
SAP SE has no consensus analysts rating.
P/E Trailing = 27.9551
P/E Forward = 22.2222
P/S = 5.6435
P/B = 4.8101
P/EG = 1.6322
Revenue TTM = 38.2b 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 fiscal year)
Debt = 9.76b EUR (from shortLongTermDebtTotal, last fiscal year) + Leases 1.68b
Net Debt = -1.87b EUR (calculated: Debt 9.76b - CCE 11.6b)
Enterprise Value = 214b EUR (216b + Debt 9.76b - CCE 11.6b)
Interest Coverage Ratio = 9.82 (Ebit TTM 12.7b / Interest Expense TTM 1.29b)
EV/FCF = 24.47x (Enterprise Value 214b / FCF TTM 8.73b)
FCF Yield = 4.09% (FCF TTM 8.73b / Enterprise Value 214b)
FCF Margin = 22.86% (FCF TTM 8.73b / Revenue TTM 38.2b)
Net Margin = 20.41% (Net Income TTM 7.80b / Revenue TTM 38.2b)
Gross Margin = 72.76% ((Revenue TTM 38.2b - Cost of Revenue TTM 10.4b) / Revenue TTM)
Gross Margin QoQ = 73.17% (prev 72.98%)
Tobins Q-Ratio = 2.83 (Enterprise Value 214b / Total Assets 75.6b)
Interest Expense / Debt = 13.26% (Interest Expense 1.29b / Debt 9.76b)
Taxrate = 28.61% (3.16b / 11.1b)
NOPAT = 9.07b (EBIT 12.7b * (1 - 28.61%))
Current Ratio = 1.15 (Total Current Assets 22.6b / Total Current Liabilities 19.7b)
Debt / Equity = 0.22 (Debt 9.76b / totalStockholderEquity, last quarter 45.2b)
Debt / EBITDA = -0.13 (Net Debt -1.87b / EBITDA 14.0b)
Debt / FCF = -0.21 (Net Debt -1.87b / FCF TTM 8.73b)
Total Stockholder Equity = 44.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.83% (Net Income 7.80b / Total Assets 75.6b)
RoE = 17.43% (Net Income TTM 7.80b / Total Stockholder Equity 44.7b)
RoCE = 25.97% (EBIT 12.7b / Capital Employed (Equity 44.7b + L.T.Debt 4.19b))
RoIC = 16.20% (NOPAT 9.07b / Invested Capital 56.0b)
WACC = 7.26% (E(216b)/V(225b) * Re(7.16%) + D(9.76b)/V(225b) * Rd(13.26%) * (1-Tc(0.29)))
Discount Rate = 7.16% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -65.16 | Cagr: -0.80%
[DCF] Terminal Value 77.97% ; FCFF base≈7.81b ; Y1≈8.95b ; Y5≈13.2b
[DCF] Fair Price = 173.3 (EV 198b - Net Debt -1.87b = Equity 200b / Shares 1.15b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 95.63 | EPS CAGR: 18.95% | SUE: -2.59 | # QB: -1
Revenue Correlation: 99.32 | Revenue CAGR: 8.29% | SUE: -0.01 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.83 | Chg30d=-0.01% | Revisions=+29% | Analysts=10
EPS current Year (2026-12-31): EPS=7.14 | Chg30d=+0.03% | Revisions=-69% | GrowthEPS=+16.0% | GrowthRev=+9.4%
EPS next Year (2027-12-31): EPS=8.37 | Chg30d=+0.04% | Revisions=-56% | GrowthEPS=+17.3% | GrowthRev=+11.8%
[Analyst] Revisions Ratio: -55% (up=6, down=24)