Comprehensive Stock Comparison
Compare DoubleVerify Holdings, Inc. (DV) 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 | DV | 13.9% revenue growth vs SAP's 3.4% |
| Value | DV | Lower P/E (20.2x vs 27.8x), PEG 1.11 vs 4.20 |
| Quality / Margins | SAP | 19.9% net margin vs DV's 6.8% |
| Stability / Safety | SAP | Beta 0.86 vs CRM's 1.04 |
| Dividends | SAP | 1.3% yield, 2-year raise streak, vs CRM's 0.9% |
| Momentum (1Y) | DV | -24.2% vs CRM's -34.0% |
| Efficiency (ROA) | SAP | 10.4% ROA vs DV's 3.7%, ROIC 16.1% vs 6.4% |
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
DoubleVerify is a digital media measurement and analytics platform that helps advertisers verify the quality and effectiveness of their online advertising. It generates revenue primarily through subscription fees for its verification services — including fraud detection, brand safety, viewability, and contextual targeting solutions — with most revenue coming from advertisers and agencies. The company's key advantage is its independent, third-party verification status which creates trust and objectivity in an industry plagued by fraud and opaque metrics.
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
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 3 stocks. BestLagging
Financial Scorecard
SAP leads in 4 of 6 categories (Profitability & Efficiency, Total Returns). DV leads in 1 (Valuation Metrics). 1 tied.
Financial Metrics (TTM)
CRM is the larger business by revenue, generating $41.5B annually — 55.5x DV's $748M. SAP is the more profitable business, keeping 19.9% of every revenue dollar as net income compared to DV's 6.8%. On growth, CRM holds the edge at +12.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | DVDoubleVerify Hold… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| RevenueTrailing 12 months | $748M | $36.7B | $41.5B |
| EBITDAEarnings before interest/tax | $136M | $11.5B | $11.4B |
| Net IncomeAfter-tax profit | $51M | $7.3B | $7.5B |
| Free Cash FlowCash after capex | $173M | $8.4B | $14.4B |
| Gross MarginGross profit ÷ Revenue | +82.2% | +73.3% | +77.7% |
| Operating MarginEBIT ÷ Revenue | +10.6% | +27.0% | +21.5% |
| Net MarginNet income ÷ Revenue | +6.8% | +19.9% | +18.0% |
| FCF MarginFCF ÷ Revenue | +23.1% | +22.9% | +34.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +7.9% | +2.3% | +12.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +28.6% | +14.7% | +18.3% |
Valuation Metrics
At 25.0x trailing earnings, CRM trades at a 29% valuation discount to DV's 35.1x P/E. Adjusting for growth (PEG ratio), DV offers better value at 1.93x vs SAP's 4.32x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | DVDoubleVerify Hold… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| Market CapShares × price | $1.7B | $234.7B | $187.4B |
| Enterprise ValueMkt cap + debt − cash | $1.5B | $234.5B | $186.8B |
| Trailing P/EPrice ÷ TTM EPS | 35.13x | 28.52x | 24.97x |
| Forward P/EPrice ÷ next-FY EPS est. | 20.19x | 27.77x | 16.54x |
| PEG RatioP/E ÷ EPS growth rate | 1.93x | 4.32x | 2.04x |
| EV / EBITDAEnterprise value multiple | 11.39x | 17.84x | 20.95x |
| Price / SalesMarket cap ÷ Revenue | 2.28x | 5.63x | 4.51x |
| Price / BookPrice ÷ Book value/share | 1.55x | 4.44x | 3.15x |
| Price / FCFMarket cap ÷ FCF | 9.88x | 25.07x | 13.01x |
Profitability & Efficiency
SAP delivers a 16.2% return on equity — every $100 of shareholder capital generates $16 in annual profit, vs $4 for DV. DV carries lower financial leverage with a 0.09x debt-to-equity ratio, signaling a more conservative balance sheet compared to SAP's 0.18x. On the Piotroski fundamental quality scale (0–9), SAP scores 9/9 vs DV's 5/9, reflecting strong financial health.
| Metric | DVDoubleVerify Hold… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| ROE (TTM)Return on equity | +4.5% | +16.2% | +12.6% |
| ROA (TTM)Return on assets | +3.7% | +10.4% | +6.6% |
| ROICReturn on invested capital | +6.4% | +16.1% | +10.9% |
| ROCEReturn on capital employed | +6.6% | +18.3% | +11.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 9 | 8 |
| Debt / EquityFinancial leverage | 0.09x | 0.18x | 0.11x |
| Net DebtTotal debt minus cash | -$159M | -$149M | -$590M |
| Cash & Equiv.Liquid assets | $259M | $8.2B | $7.3B |
| Total DebtShort + long-term debt | $100M | $8.1B | $6.7B |
| Interest CoverageEBIT ÷ Interest expense | 26.89x | 8.94x | 44.14x |
Total Returns (with DRIP)
A $10,000 investment in SAP five years ago would be worth $17,166 today (with dividends reinvested), compared to $2,928 for DV. Over the past 12 months, DV leads with a -24.2% total return vs CRM's -34.0%. The 3-year compound annual growth rate (CAGR) favors SAP at 22.4% vs DV's -26.2% — a key indicator of consistent wealth creation.
| Metric | DVDoubleVerify Hold… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| YTD ReturnYear-to-date | -2.9% | -14.9% | -23.2% |
| 1-Year ReturnPast 12 months | -24.2% | -25.8% | -34.0% |
| 3-Year ReturnCumulative with dividends | -59.9% | +83.4% | +21.1% |
| 5-Year ReturnCumulative with dividends | -70.7% | +71.7% | -9.0% |
| 10-Year ReturnCumulative with dividends | -69.7% | +193.8% | +192.3% |
| CAGR (3Y)Annualised 3-year return | -26.2% | +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 CRM's 1.04 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | DVDoubleVerify Hold… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.00x | 0.86x | 1.04x |
| 52-Week HighHighest price in past year | $17.09 | $313.28 | $303.07 |
| 52-Week LowLowest price in past year | $7.64 | $189.22 | $174.57 |
| % of 52W HighCurrent price vs 52-week peak | +61.7% | +64.3% | +64.3% |
| RSI (14)Momentum oscillator 0–100 | 43.6 | 45.3 | 47.5 |
| Avg Volume (50D)Average daily shares traded | 1.9M | 2.4M | 8.6M |
Analyst Outlook
Analyst consensus: DV as "Buy", SAP as "Buy", CRM as "Buy". Consensus price targets imply 106.1% upside for SAP (target: $415) vs 34.2% for DV (target: $14). For income investors, SAP offers the higher dividend yield at 1.31% vs CRM's 0.85%.
| Metric | DVDoubleVerify Hold… | SAPSAP SE | CRMSalesforce, Inc. |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $14.14 | $415.33 | $299.00 |
| # AnalystsCovering analysts | 33 | 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 | +0.1% | +0.9% | +6.7% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Apr 21 | Feb 26 | Change |
|---|---|---|---|
| DoubleVerify Holdin… (DV) | 100 | 29.44 | -70.6% |
| SAP SE (SAP) | 100 | 146.95 | +47.0% |
| Salesforce, Inc. (CRM) | 100 | 94.21 | -5.8% |
SAP SE (SAP) returned +72% over 5 years vs DoubleVerify Holdin… (DV)'s -71%. A $10,000 investment in SAP 5 years ago would be worth $17,166 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2017 | 2026 | Change |
|---|---|---|---|
| DoubleVerify Holdin… (DV) | $104M | $748M | +617.4% |
| 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 |
|---|---|---|---|
| DoubleVerify Holdin… (DV) | 3.0% | 6.8% | +122.2% |
| 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 |
|---|---|---|---|
| DoubleVerify Holdin… (DV) | 184.9 | 38.1 | -79.4% |
| SAP SE (SAP) | 33.5 | 40.6 | +21.2% |
| Salesforce, Inc. (CRM) | 393.2 | 25 | -93.6% |
DoubleVerify Holdings, Inc. has traded in a 38x–185x P/E range over 5 years; current trailing P/E is ~35x. 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 |
|---|---|---|---|
| DoubleVerify Holdin… (DV) | 0.02 | 0.3 | +1363.4% |
| SAP SE (SAP) | 3.35 | 5.99 | +78.8% |
| Salesforce, Inc. (CRM) | 0.26 | 7.8 | +2900.0% |
Chart 6Free Cash Flow — 5 Years
DoubleVerify Holdings, Inc. generated $173M FCF in 2025 (+135% vs 2021). SAP SE generated $8B FCF in 2025 (+44% vs 2021).
DV vs SAP vs CRM: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is DV 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 DoubleVerify Holdings, Inc. (DV) a "Buy" — based on 33 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 — DV or SAP or CRM?
On trailing P/E, Salesforce, Inc. (CRM) is the cheapest at 25.0x versus DoubleVerify Holdings, Inc. at 35.1x. 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: DoubleVerify Holdings, Inc. wins at 1.11x versus SAP SE's 4.20x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — DV or SAP or CRM?
Over the past 5 years, SAP SE (SAP) delivered a total return of +71.7%, compared to -70.7% for DoubleVerify Holdings, Inc. (DV). A $10,000 investment in SAP five years ago would be worth approximately $17K today (assuming dividends reinvested). Over 10 years, the gap is even starker: SAP returned +193.8% versus DV's -69.7%. 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 — DV or SAP or CRM?
By beta (market sensitivity over 5 years), SAP SE (SAP) is the lower-risk stock at 0.86β versus Salesforce, Inc.'s 1.04β — meaning CRM is approximately 21% more volatile than SAP relative to the S&P 500. On balance sheet safety, DoubleVerify Holdings, Inc. (DV) carries a lower debt/equity ratio of 9% versus 18% for SAP SE — giving it more financial flexibility in a downturn.
05Which has better profit margins — DV or SAP or CRM?
SAP SE (SAP) is the more profitable company, earning 19.9% net margin versus 6.8% for DoubleVerify Holdings, Inc. — meaning it keeps 19.9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: SAP leads at 28.0% versus 10.6% for DV. At the gross margin level — before operating expenses — DV leads at 82.2%, 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 DV 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, DoubleVerify Holdings, Inc. (DV) is the more undervalued stock at a PEG of 1.11x 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 27.8x for SAP SE — 11.2x 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 — DV or SAP or CRM?
In this comparison, SAP (1.3% yield), CRM (0.9% yield) pay a dividend. DV does not pay a meaningful dividend and should not be held primarily for income.
08Is DV 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). Both have compounded well over 10 years (SAP: +193.8%, DV: -69.7%), 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 DV 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 DV 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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