Comprehensive Stock Comparison
Compare SAP SE (SAP) vs QXO, Inc. (QXO) 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 | QXO | 119.3% revenue growth vs SAP's 3.4% |
| Value | SAP | Lower P/E (27.8x vs 61.6x) |
| Quality / Margins | SAP | 19.9% net margin vs QXO's -4.1% |
| Stability / Safety | SAP | Beta 0.86 vs QXO's 1.25, lower leverage |
| Dividends | QXO | 71.4% yield, 2-year raise streak, vs SAP's 1.3% |
| Momentum (1Y) | QXO | +88.0% vs SAP's -25.8% |
| Efficiency (ROA) | SAP | 10.4% ROA vs QXO's -1.8%, ROIC 16.1% vs -3.1% |
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
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.
QXO is a business software and consulting firm that provides enterprise resource planning, accounting, and IT managed services to small and medium-sized businesses. It generates revenue through software licensing and subscriptions — primarily from its ERP and business management platforms — supplemented by consulting, training, and technical support services. The company's moat comes from its deep industry specialization in manufacturing and distribution sectors, where it offers integrated solutions that combine software with specialized consulting expertise.
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 (Financial Metrics, Profitability & Efficiency). QXO leads in 1 (Analyst Outlook). 2 tied.
Financial Metrics (TTM)
SAP is the larger business by revenue, generating $36.7B annually — 5.4x QXO's $6.8B. SAP is the more profitable business, keeping 19.9% of every revenue dollar as net income compared to QXO's -4.1%. On growth, QXO holds the edge at +147.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | SAPSAP SE | QXOQXO, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $36.7B | $6.8B |
| EBITDAEarnings before interest/tax | $11.5B | $60M |
| Net IncomeAfter-tax profit | $7.3B | -$279M |
| Free Cash FlowCash after capex | $8.4B | $183M |
| Gross MarginGross profit ÷ Revenue | +73.3% | +23.0% |
| Operating MarginEBIT ÷ Revenue | +27.0% | -3.6% |
| Net MarginNet income ÷ Revenue | +19.9% | -4.1% |
| FCF MarginFCF ÷ Revenue | +22.9% | +2.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +2.3% | +147.8% |
| EPS Growth (YoY)Latest quarter vs prior year | +14.7% | -7.5% |
Valuation Metrics
On an enterprise value basis, SAP's 17.8x EV/EBITDA is more attractive than QXO's 107.3x.
| Metric | SAPSAP SE | QXOQXO, Inc. |
|---|---|---|
| Market CapShares × price | $234.7B | $17.0B |
| Enterprise ValueMkt cap + debt − cash | $234.5B | $19.1B |
| Trailing P/EPrice ÷ TTM EPS | 28.52x | -38.02x |
| Forward P/EPrice ÷ next-FY EPS est. | 27.77x | 61.60x |
| PEG RatioP/E ÷ EPS growth rate | 4.32x | — |
| EV / EBITDAEnterprise value multiple | 17.84x | 107.27x |
| Price / SalesMarket cap ÷ Revenue | 5.63x | 2.48x |
| Price / BookPrice ÷ Book value/share | 4.44x | 0.02x |
| Price / FCFMarket cap ÷ FCF | 25.07x | 92.62x |
Profitability & Efficiency
SAP delivers a 16.2% return on equity — every $100 of shareholder capital generates $16 in annual profit, vs $-3 for QXO. SAP carries lower financial leverage with a 0.18x debt-to-equity ratio, signaling a more conservative balance sheet compared to QXO's 0.46x. On the Piotroski fundamental quality scale (0–9), SAP scores 9/9 vs QXO's 4/9, reflecting strong financial health.
| Metric | SAPSAP SE | QXOQXO, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +16.2% | -2.9% |
| ROA (TTM)Return on assets | +10.4% | -1.8% |
| ROICReturn on invested capital | +16.1% | -3.1% |
| ROCEReturn on capital employed | +18.3% | -2.5% |
| Piotroski ScoreFundamental quality 0–9 | 9 | 4 |
| Debt / EquityFinancial leverage | 0.18x | 0.46x |
| Net DebtTotal debt minus cash | -$149M | $2.1B |
| Cash & Equiv.Liquid assets | $8.2B | $2.4B |
| Total DebtShort + long-term debt | $8.1B | $4.5B |
| Interest CoverageEBIT ÷ Interest expense | 8.94x | -1.79x |
Total Returns (with DRIP)
A $10,000 investment in SAP five years ago would be worth $17,166 today (with dividends reinvested), compared to $1,422 for QXO. Over the past 12 months, QXO leads with a +88.0% total return vs SAP's -25.8%. The 3-year compound annual growth rate (CAGR) favors SAP at 22.4% vs QXO's -38.0% — a key indicator of consistent wealth creation.
| Metric | SAPSAP SE | QXOQXO, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | -14.9% | +21.5% |
| 1-Year ReturnPast 12 months | -25.8% | +88.0% |
| 3-Year ReturnCumulative with dividends | +83.4% | -76.2% |
| 5-Year ReturnCumulative with dividends | +71.7% | -85.8% |
| 10-Year ReturnCumulative with dividends | +193.8% | -47.8% |
| CAGR (3Y)Annualised 3-year return | +22.4% | -38.0% |
Risk & Volatility
SAP is the less volatile stock with a 0.86 beta — it tends to amplify market swings less than QXO's 1.25 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. QXO currently trades 86.7% from its 52-week high vs SAP's 64.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | SAPSAP SE | QXOQXO, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.86x | 1.25x |
| 52-Week HighHighest price in past year | $313.28 | $27.61 |
| 52-Week LowLowest price in past year | $189.22 | $11.97 |
| % of 52W HighCurrent price vs 52-week peak | +64.3% | +86.7% |
| RSI (14)Momentum oscillator 0–100 | 45.3 | 47.5 |
| Avg Volume (50D)Average daily shares traded | 2.4M | 7.4M |
Analyst Outlook
Wall Street rates SAP as "Buy" and QXO as "Buy". Consensus price targets imply 106.1% upside for SAP (target: $415) vs 25.3% for QXO (target: $30). For income investors, QXO offers the higher dividend yield at 71.38% vs SAP's 1.31%.
| Metric | SAPSAP SE | QXOQXO, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $415.33 | $30.00 |
| # AnalystsCovering analysts | 43 | 3 |
| Dividend YieldAnnual dividend ÷ price | +1.3% | +71.4% |
| Dividend StreakConsecutive years of raises | 2 | 2 |
| Dividend / ShareAnnual DPS | $2.24 | $17.10 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.9% | 0.0% |
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 |
|---|---|---|---|
| SAP SE (SAP) | 100 | 163.78 | +63.8% |
| QXO, Inc. (QXO) | 100 | 11.62 | -88.4% |
SAP SE (SAP) returned +72% over 5 years vs QXO, Inc. (QXO)'s -86%. 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 |
|---|---|---|---|
| SAP SE (SAP) | $22.1B | $35.3B | +60.2% |
| QXO, Inc. (QXO) | $34M | $6.8B | +19952.2% |
SAP SE's revenue grew from $22.1B (2016) to $35.3B (2025) — a 5.4% CAGR. QXO, Inc.'s revenue grew from $34M (2016) to $6.8B (2025) — a 80.2% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| SAP SE (SAP) | 16.5% | 19.9% | +20.6% |
| QXO, Inc. (QXO) | 10.1% | -4.1% | -140.5% |
SAP SE's net margin went from 17% (2016) to 20% (2025). QXO, Inc.'s net margin went from 10% (2016) to -4% (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 |
|---|---|---|---|
| SAP SE (SAP) | 3.03 | 5.99 | +97.7% |
| QXO, Inc. (QXO) | 6.15 | -0.63 | -110.2% |
SAP SE's EPS grew from $3.03 (2016) to $5.99 (2025) — a 8% CAGR. QXO, Inc.'s EPS grew from $6.15 (2016) to $-0.63 (2025) — a NaN% CAGR.
Chart 6Free Cash Flow — 5 Years
SAP SE generated $8B FCF in 2025 (+44% vs 2021). QXO, Inc. generated $183M FCF in 2025 (+164540% vs 2021).
SAP vs QXO: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is SAP or QXO 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 SAP SE (SAP) a "Buy" — based on 43 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 — SAP or QXO?
On forward P/E, SAP SE is actually cheaper at 27.8x.
03Which is the better long-term investment — SAP or QXO?
Over the past 5 years, SAP SE (SAP) delivered a total return of +71.7%, compared to -85.8% for QXO, Inc. (QXO). 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 QXO's -47.8%. 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 — SAP or QXO?
By beta (market sensitivity over 5 years), SAP SE (SAP) is the lower-risk stock at 0.86β versus QXO, Inc.'s 1.25β — meaning QXO is approximately 46% more volatile than SAP relative to the S&P 500. On balance sheet safety, SAP SE (SAP) carries a lower debt/equity ratio of 18% versus 46% for QXO, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — SAP or QXO?
SAP SE (SAP) is the more profitable company, earning 19.9% net margin versus -4.1% for QXO, 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 -3.6% for QXO. At the gross margin level — before operating expenses — SAP leads at 73.5%, 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 SAP or QXO more undervalued right now?
On forward earnings alone, SAP SE (SAP) trades at 27.8x forward P/E versus 61.6x for QXO, Inc. — 33.8x 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 — SAP or QXO?
All stocks in this comparison pay dividends. QXO, Inc. (QXO) offers the highest yield at 71.4%, versus 1.3% for SAP SE (SAP).
08Is SAP or QXO 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%, QXO: -47.8%), 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 SAP and QXO?
These companies operate in different sectors (SAP (Technology) and QXO (Industrials)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced. In terms of investment character: SAP is a large-cap quality compounder stock; QXO is a mid-cap income-oriented stock. 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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