Comprehensive Stock Comparison
Compare HubSpot, Inc. (HUBS) vs SAP SE (SAP) 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 | HUBS | 19.2% revenue growth vs SAP's 3.4% |
| Value | HUBS | Lower P/E (21.3x vs 27.8x) |
| Quality / Margins | SAP | 19.9% net margin vs HUBS's -0.1% |
| Stability / Safety | SAP | Beta 0.86 vs HUBS's 1.43 |
| Dividends | SAP | 1.3% yield; 2-year raise streak; HUBS pays no meaningful dividend |
| Momentum (1Y) | SAP | -25.8% vs HUBS's -63.5% |
| Efficiency (ROA) | SAP | 10.4% ROA vs HUBS's -0.1%, ROIC 16.1% vs 0.3% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
HubSpot is a cloud-based customer relationship management platform that helps businesses attract, engage, and delight customers through integrated marketing, sales, and service tools. It generates revenue primarily through subscription fees for its software platform—with pricing tiers based on features and usage—and secondarily through professional services and training. The company's key advantage is its unified, easy-to-use platform that seamlessly connects marketing, sales, and customer service functions, creating a sticky ecosystem that grows with customers' needs.
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.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
SAP leads in 3 of 6 categories — strongest in Profitability & Efficiency and Total Returns. 2 categories are tied.
Financial Metrics (TTM)
SAP is the larger business by revenue, generating $36.7B annually — 12.3x HUBS's $3.0B. SAP is the more profitable business, keeping 19.9% of every revenue dollar as net income compared to HUBS's -0.1%. On growth, HUBS holds the edge at +20.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | HUBSHubSpot, Inc. | SAPSAP SE |
|---|---|---|
| RevenueTrailing 12 months | $3.0B | $36.7B |
| EBITDAEarnings before interest/tax | $41M | $11.5B |
| Net IncomeAfter-tax profit | -$4M | $7.3B |
| Free Cash FlowCash after capex | $655M | $8.4B |
| Gross MarginGross profit ÷ Revenue | +84.1% | +73.3% |
| Operating MarginEBIT ÷ Revenue | -1.7% | +27.0% |
| Net MarginNet income ÷ Revenue | -0.1% | +19.9% |
| FCF MarginFCF ÷ Revenue | +21.9% | +22.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +20.9% | +2.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +93.8% | +14.7% |
Valuation Metrics
At 28.5x trailing earnings, SAP trades at a 91% valuation discount to HUBS's 307.6x P/E. On an enterprise value basis, SAP's 17.8x EV/EBITDA is more attractive than HUBS's 1787.8x.
| Metric | HUBSHubSpot, Inc. | SAPSAP SE |
|---|---|---|
| Market CapShares × price | $13.8B | $234.7B |
| Enterprise ValueMkt cap + debt − cash | $13.2B | $234.5B |
| Trailing P/EPrice ÷ TTM EPS | 307.57x | 28.52x |
| Forward P/EPrice ÷ next-FY EPS est. | 21.30x | 27.77x |
| PEG RatioP/E ÷ EPS growth rate | — | 4.32x |
| EV / EBITDAEnterprise value multiple | 1787.77x | 17.84x |
| Price / SalesMarket cap ÷ Revenue | 4.41x | 5.63x |
| Price / BookPrice ÷ Book value/share | 6.81x | 4.44x |
| Price / FCFMarket cap ÷ FCF | 19.52x | 25.07x |
Profitability & Efficiency
SAP delivers a 16.2% return on equity — every $100 of shareholder capital generates $16 in annual profit, vs $-0 for HUBS. HUBS carries lower financial leverage with a 0.13x 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 HUBS's 6/9, reflecting strong financial health.
| Metric | HUBSHubSpot, Inc. | SAPSAP SE |
|---|---|---|
| ROE (TTM)Return on equity | -0.2% | +16.2% |
| ROA (TTM)Return on assets | -0.1% | +10.4% |
| ROICReturn on invested capital | +0.3% | +16.1% |
| ROCEReturn on capital employed | +0.3% | +18.3% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 9 |
| Debt / EquityFinancial leverage | 0.13x | 0.18x |
| Net DebtTotal debt minus cash | -$620M | -$149M |
| Cash & Equiv.Liquid assets | $882M | $8.2B |
| Total DebtShort + long-term debt | $262M | $8.1B |
| Interest CoverageEBIT ÷ Interest expense | 12.40x | 8.94x |
Total Returns (with DRIP)
A $10,000 investment in SAP five years ago would be worth $17,166 today (with dividends reinvested), compared to $5,023 for HUBS. Over the past 12 months, SAP leads with a -25.8% total return vs HUBS's -63.5%. The 3-year compound annual growth rate (CAGR) favors SAP at 22.4% vs HUBS's -11.9% — a key indicator of consistent wealth creation.
| Metric | HUBSHubSpot, Inc. | SAPSAP SE |
|---|---|---|
| YTD ReturnYear-to-date | -30.8% | -14.9% |
| 1-Year ReturnPast 12 months | -63.5% | -25.8% |
| 3-Year ReturnCumulative with dividends | -31.6% | +83.4% |
| 5-Year ReturnCumulative with dividends | -49.8% | +71.7% |
| 10-Year ReturnCumulative with dividends | +534.9% | +193.8% |
| CAGR (3Y)Annualised 3-year return | -11.9% | +22.4% |
Risk & Volatility
SAP is the less volatile stock with a 0.86 beta — it tends to amplify market swings less than HUBS's 1.43 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 HUBS's 36.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | HUBSHubSpot, Inc. | SAPSAP SE |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.43x | 0.86x |
| 52-Week HighHighest price in past year | $732.00 | $313.28 |
| 52-Week LowLowest price in past year | $207.20 | $189.22 |
| % of 52W HighCurrent price vs 52-week peak | +36.1% | +64.3% |
| RSI (14)Momentum oscillator 0–100 | 51.0 | 45.3 |
| Avg Volume (50D)Average daily shares traded | 1.3M | 2.4M |
Analyst Outlook
Wall Street rates HUBS as "Buy" and SAP as "Buy". Consensus price targets imply 106.1% upside for SAP (target: $415) vs 44.8% for HUBS (target: $383). SAP is the only dividend payer here at 1.31% yield — a key consideration for income-focused portfolios.
| Metric | HUBSHubSpot, Inc. | SAPSAP SE |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $383.00 | $415.33 |
| # AnalystsCovering analysts | 47 | 43 |
| Dividend YieldAnnual dividend ÷ price | — | +1.3% |
| Dividend StreakConsecutive years of raises | — | 2 |
| Dividend / ShareAnnual DPS | — | $2.24 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.6% | +0.9% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| HubSpot, Inc. (HUBS) | 100 | 151.74 | +51.7% |
| SAP SE (SAP) | 100 | 163.78 | +63.8% |
SAP SE (SAP) returned +72% over 5 years vs HubSpot, Inc. (HUBS)'s -50%. A $10,000 investment in SAP 5 years ago would be worth $17,166 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| HubSpot, Inc. (HUBS) | $271M | $3.1B | +1055.6% |
| SAP SE (SAP) | $22.1B | $35.3B | +60.2% |
HubSpot, Inc.'s revenue grew from $271M (2016) to $3.1B (2025) — a 31.2% CAGR. SAP SE's revenue grew from $22.1B (2016) to $35.3B (2025) — a 5.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| HubSpot, Inc. (HUBS) | -16.8% | 3.0% | +117.7% |
| SAP SE (SAP) | 16.5% | 19.9% | +20.6% |
HubSpot, Inc.'s net margin went from -17% (2016) to 3% (2025). SAP SE's net margin went from 17% (2016) to 20% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| SAP SE (SAP) | 33.5 | 40.6 | +21.2% |
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 | 2016 | 2025 | Change |
|---|---|---|---|
| HubSpot, Inc. (HUBS) | -1.29 | 0.86 | +166.7% |
| SAP SE (SAP) | 3.03 | 5.99 | +97.7% |
HubSpot, Inc.'s EPS grew from $-1.29 (2016) to $0.86 (2025). SAP SE's EPS grew from $3.03 (2016) to $5.99 (2025) — a 8% CAGR.
Chart 6Free Cash Flow — 5 Years
HubSpot, Inc. generated $708M FCF in 2025 (+300% vs 2021). SAP SE generated $8B FCF in 2025 (+44% vs 2021).
HUBS vs SAP: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is HUBS or SAP a better buy right now?
SAP SE (SAP) offers the better valuation at 28.5x trailing P/E (27.8x forward), making it the more compelling value choice. Analysts rate HubSpot, Inc. (HUBS) a "Buy" — based on 47 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 — HUBS or SAP?
On trailing P/E, SAP SE (SAP) is the cheapest at 28.5x versus HubSpot, Inc. at 307.6x. On forward P/E, HubSpot, Inc. is actually cheaper at 21.3x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — HUBS or SAP?
Over the past 5 years, SAP SE (SAP) delivered a total return of +71.7%, compared to -49.8% for HubSpot, Inc. (HUBS). 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: HUBS returned +534.9% versus SAP's +193.8%. 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 — HUBS or SAP?
By beta (market sensitivity over 5 years), SAP SE (SAP) is the lower-risk stock at 0.86β versus HubSpot, Inc.'s 1.43β — meaning HUBS is approximately 67% more volatile than SAP relative to the S&P 500. On balance sheet safety, HubSpot, Inc. (HUBS) carries a lower debt/equity ratio of 13% versus 18% for SAP SE — giving it more financial flexibility in a downturn.
05Which has better profit margins — HUBS or SAP?
SAP SE (SAP) is the more profitable company, earning 19.9% net margin versus 3.0% for HubSpot, 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 0.2% for HUBS. At the gross margin level — before operating expenses — HUBS leads at 83.8%, 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 HUBS or SAP more undervalued right now?
On forward earnings alone, HubSpot, Inc. (HUBS) trades at 21.3x forward P/E versus 27.8x for SAP SE — 6.5x 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 — HUBS or SAP?
In this comparison, SAP (1.3% yield) pays a dividend. HUBS does not pay a meaningful dividend and should not be held primarily for income.
08Is HUBS or SAP 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%, HUBS: +534.9%), 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 HUBS and SAP?
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 pays a dividend while HUBS 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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