Comprehensive Stock Comparison
Compare AppLovin Corporation (APP) vs SAP SE (SAP) vs Salesforce, Inc. (CRM) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | APP | 16.4% revenue growth vs SAP's 3.4% |
| Value | CRM | Lower P/E (16.5x vs 27.8x), PEG 1.35 vs 4.20 |
| Quality / Margins | APP | 60.8% net margin vs CRM's 18.0% |
| Stability / Safety | SAP | Beta 0.86 vs APP's 2.17, lower leverage |
| Dividends | SAP | 1.3% yield, 2-year raise streak, vs CRM's 0.9% |
| Momentum (1Y) | APP | +33.5% vs CRM's -34.0% |
| Efficiency (ROA) | APP | 45.9% ROA vs CRM's 6.6%, ROIC 87.8% vs 10.9% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
AppLovin operates a software platform that helps mobile app developers market and monetize their apps through advertising technology. It generates revenue primarily from its software platform segment — which includes marketing solutions like AppDiscovery and analytics tools like Adjust — accounting for roughly 80% of total revenue, with the remainder coming from its apps segment. The company's key advantage is its AI-powered advertising engine that optimizes ad placements across its vast network of mobile apps, creating a data-driven flywheel effect.
SAP is a global enterprise software company that provides business applications, technology platforms, and cloud services for organizations worldwide. It generates revenue primarily through software licenses and cloud subscriptions — with cloud services now representing over 40% of total revenue — along with consulting and support services. The company's key advantage is its deep integration across business functions — from finance to supply chain to HR — creating switching costs and network effects within its large enterprise customer base.
Salesforce is a cloud-based customer relationship management (CRM) software company that helps businesses manage sales, service, marketing, and commerce operations. It generates revenue primarily through subscription fees for its SaaS platform—with sales cloud (~30%), service cloud (~25%), and platform/other (~45%) being its main segments. Its competitive moat lies in its massive ecosystem of integrated applications, enterprise data architecture, and high switching costs for customers deeply embedded in its platform.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 3 stocks. BestLagging
Financial Scorecard
APP leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). SAP leads in 2 (Risk & Volatility, Analyst Outlook).
Financial Metrics (TTM)
CRM is the larger business by revenue, generating $41.5B annually — 7.6x APP's $5.5B. APP is the more profitable business, keeping 60.8% of every revenue dollar as net income compared to CRM's 18.0%. On growth, CRM holds the edge at +12.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | APPAppLovin Corporat… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| RevenueTrailing 12 months | $5.5B | $36.7B | $41.5B |
| EBITDAEarnings before interest/tax | $4.3B | $11.5B | $11.4B |
| Net IncomeAfter-tax profit | $3.3B | $7.3B | $7.5B |
| Free Cash FlowCash after capex | $4.0B | $8.4B | $14.4B |
| Gross MarginGross profit ÷ Revenue | +87.9% | +73.3% | +77.7% |
| Operating MarginEBIT ÷ Revenue | +75.8% | +27.0% | +21.5% |
| Net MarginNet income ÷ Revenue | +60.8% | +19.9% | +18.0% |
| FCF MarginFCF ÷ Revenue | +72.5% | +22.9% | +34.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -2.9% | +2.3% | +12.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +87.3% | +14.7% | +18.3% |
Valuation Metrics
At 25.0x trailing earnings, CRM trades at a 44% valuation discount to APP's 44.6x P/E. Adjusting for growth (PEG ratio), CRM offers better value at 2.04x vs SAP's 4.32x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | APPAppLovin Corporat… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| Market CapShares × price | $133.9B | $234.7B | $187.4B |
| Enterprise ValueMkt cap + debt − cash | $134.9B | $234.5B | $186.8B |
| Trailing P/EPrice ÷ TTM EPS | 44.59x | 28.52x | 24.97x |
| Forward P/EPrice ÷ next-FY EPS est. | 28.00x | 27.77x | 16.54x |
| PEG RatioP/E ÷ EPS growth rate | — | 4.32x | 2.04x |
| EV / EBITDAEnterprise value multiple | 31.05x | 17.84x | 20.95x |
| Price / SalesMarket cap ÷ Revenue | 24.43x | 5.63x | 4.51x |
| Price / BookPrice ÷ Book value/share | 69.65x | 4.44x | 3.15x |
| Price / FCFMarket cap ÷ FCF | 33.72x | 25.07x | 13.01x |
Profitability & Efficiency
APP delivers a 156.2% return on equity — every $100 of shareholder capital generates $156 in annual profit, vs $13 for CRM. CRM carries lower financial leverage with a 0.11x debt-to-equity ratio, signaling a more conservative balance sheet compared to APP's 1.66x. On the Piotroski fundamental quality scale (0–9), SAP scores 9/9 vs CRM's 8/9, reflecting strong financial health.
| Metric | APPAppLovin Corporat… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| ROE (TTM)Return on equity | +156.2% | +16.2% | +12.6% |
| ROA (TTM)Return on assets | +45.9% | +10.4% | +6.6% |
| ROICReturn on invested capital | +87.8% | +16.1% | +10.9% |
| ROCEReturn on capital employed | +77.3% | +18.3% | +11.9% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 9 | 8 |
| Debt / EquityFinancial leverage | 1.66x | 0.18x | 0.11x |
| Net DebtTotal debt minus cash | $1.1B | -$149M | -$590M |
| Cash & Equiv.Liquid assets | $2.5B | $8.2B | $7.3B |
| Total DebtShort + long-term debt | $3.5B | $8.1B | $6.7B |
| Interest CoverageEBIT ÷ Interest expense | 20.06x | 8.94x | 44.14x |
Total Returns (with DRIP)
A $10,000 investment in APP five years ago would be worth $66,683 today (with dividends reinvested), compared to $9,104 for CRM. Over the past 12 months, APP leads with a +33.5% total return vs CRM's -34.0%. The 3-year compound annual growth rate (CAGR) favors APP at 2.2% vs CRM's 6.6% — a key indicator of consistent wealth creation.
| Metric | APPAppLovin Corporat… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| YTD ReturnYear-to-date | -29.7% | -14.9% | -23.2% |
| 1-Year ReturnPast 12 months | +33.5% | -25.8% | -34.0% |
| 3-Year ReturnCumulative with dividends | +3120.5% | +83.4% | +21.1% |
| 5-Year ReturnCumulative with dividends | +566.8% | +71.7% | -9.0% |
| 10-Year ReturnCumulative with dividends | +566.8% | +193.8% | +192.3% |
| CAGR (3Y)Annualised 3-year return | +2.2% | +22.4% | +6.6% |
Risk & Volatility
SAP is the less volatile stock with a 0.86 beta — it tends to amplify market swings less than APP's 2.17 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. SAP currently trades 64.3% from its 52-week high vs APP's 58.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | APPAppLovin Corporat… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.17x | 0.86x | 1.04x |
| 52-Week HighHighest price in past year | $745.61 | $313.28 | $303.07 |
| 52-Week LowLowest price in past year | $200.50 | $189.22 | $174.57 |
| % of 52W HighCurrent price vs 52-week peak | +58.3% | +64.3% | +64.3% |
| RSI (14)Momentum oscillator 0–100 | 47.7 | 45.3 | 47.5 |
| Avg Volume (50D)Average daily shares traded | 5.2M | 2.4M | 8.6M |
Analyst Outlook
Analyst consensus: APP as "Buy", SAP as "Buy", CRM as "Buy". Consensus price targets imply 106.1% upside for SAP (target: $415) vs 53.5% for CRM (target: $299). For income investors, SAP offers the higher dividend yield at 1.31% vs CRM's 0.85%.
| Metric | APPAppLovin Corporat… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $690.93 | $415.33 | $299.00 |
| # AnalystsCovering analysts | 26 | 43 | 97 |
| Dividend YieldAnnual dividend ÷ price | — | +1.3% | +0.9% |
| Dividend StreakConsecutive years of raises | — | 2 | 2 |
| Dividend / ShareAnnual DPS | — | $2.24 | $1.66 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.6% | +0.9% | +6.7% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Apr 21 | Feb 26 | Change |
|---|---|---|---|
| AppLovin Corporation (APP) | 100 | 740.8 | +640.8% |
| SAP SE (SAP) | 100 | 146.95 | +47.0% |
| Salesforce, Inc. (CRM) | 100 | 94.21 | -5.8% |
AppLovin Corporation (APP) returned +567% over 5 years vs Salesforce, Inc. (CRM)'s -9%. A $10,000 investment in APP 5 years ago would be worth $66,683 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| AppLovin Corporation (APP) | $483M | $5.5B | +1033.9% |
| SAP SE (SAP) | $23.5B | $35.3B | +50.7% |
| Salesforce, Inc. (CRM) | $8.4B | $41.5B | +394.8% |
Chart 3Net Margin Trend — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| AppLovin Corporation (APP) | -53.8% | 60.8% | +213.1% |
| SAP SE (SAP) | 17.1% | 19.9% | +16.5% |
| Salesforce, Inc. (CRM) | 3.8% | 18.0% | +366.6% |
Chart 4P/E Ratio History — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| AppLovin Corporation (APP) | 40.7 | 69.1 | +69.8% |
| SAP SE (SAP) | 33.5 | 40.6 | +21.2% |
| Salesforce, Inc. (CRM) | 393.2 | 25 | -93.6% |
AppLovin Corporation has traded in a 41x–72x P/E range over 3 years; current trailing P/E is ~45x. SAP SE has traded in a 29x–93x P/E range over 9 years; current trailing P/E is ~29x.
Chart 5EPS Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| AppLovin Corporation (APP) | -1.37 | 9.75 | +811.7% |
| SAP SE (SAP) | 3.35 | 5.99 | +78.8% |
| Salesforce, Inc. (CRM) | 0.26 | 7.8 | +2900.0% |
Chart 6Free Cash Flow — 5 Years
AppLovin Corporation generated $4B FCF in 2025 (+1002% vs 2021). SAP SE generated $8B FCF in 2025 (+44% vs 2021).
APP vs SAP vs CRM: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is APP or SAP or CRM a better buy right now?
Salesforce, Inc. (CRM) offers the better valuation at 25.0x trailing P/E (16.5x forward), making it the more compelling value choice. Analysts rate AppLovin Corporation (APP) a "Buy" — based on 26 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — APP or SAP or CRM?
On trailing P/E, Salesforce, Inc. (CRM) is the cheapest at 25.0x versus AppLovin Corporation at 44.6x. On forward P/E, Salesforce, Inc. is actually cheaper at 16.5x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Salesforce, Inc. wins at 1.35x versus SAP SE's 4.20x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — APP or SAP or CRM?
Over the past 5 years, AppLovin Corporation (APP) delivered a total return of +566.8%, compared to -9.0% for Salesforce, Inc. (CRM). A $10,000 investment in APP five years ago would be worth approximately $67K today (assuming dividends reinvested). Over 10 years, the gap is even starker: APP returned +566.8% versus CRM's +192.3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — APP or SAP or CRM?
By beta (market sensitivity over 5 years), SAP SE (SAP) is the lower-risk stock at 0.86β versus AppLovin Corporation's 2.17β — meaning APP is approximately 153% more volatile than SAP relative to the S&P 500. On balance sheet safety, Salesforce, Inc. (CRM) carries a lower debt/equity ratio of 11% versus 166% for AppLovin Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — APP or SAP or CRM?
AppLovin Corporation (APP) is the more profitable company, earning 60.8% net margin versus 18.0% for Salesforce, Inc. — meaning it keeps 60.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: APP leads at 75.8% versus 21.5% for CRM. At the gross margin level — before operating expenses — APP leads at 87.9%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is APP or SAP or CRM more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Salesforce, Inc. (CRM) is the more undervalued stock at a PEG of 1.35x versus SAP SE's 4.20x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, Salesforce, Inc. (CRM) trades at 16.5x forward P/E versus 28.0x for AppLovin Corporation — 11.5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for SAP: 106.1% to $415.33.
07Which pays a better dividend — APP or SAP or CRM?
In this comparison, SAP (1.3% yield), CRM (0.9% yield) pay a dividend. APP does not pay a meaningful dividend and should not be held primarily for income.
08Is APP or SAP or CRM better for a retirement portfolio?
For long-horizon retirement investors, SAP SE (SAP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.86), 1.3% yield, +193.8% 10Y return). AppLovin Corporation (APP) carries a higher beta of 2.17 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (SAP: +193.8%, APP: +566.8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between APP and SAP and CRM?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. SAP, CRM pay a dividend while APP does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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