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SAP logoSAP SE(SAP)Earnings, Financials & Key Ratios

SAP•NYSE
$172.39
$200.87B mkt cap·24.5× P/E·Price updated May 6, 2026
SectorTechnologyIndustryApplication SoftwareSub-IndustryVertical industry SaaS applications
AboutSAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management. The company also provides SAP customer experience solutions; SAP Business Technology platform that enables customers and partners to build, integrate, and automate applications; and SAP Business Network, a business-to-business collaboration platform that helps digitalize key business processes across the supply chain and enables communication between trading partners. In addition, it offers SAP Signavio to help customers to discover, analyze, and understand their business process operations; SAP's industry cloud solutions that provides modular solutions addressing industry-specific functions; Taulia solutions for working capital management to help enable customers mitigate the effects of inflation by providing visibility into working capital and access to liquidity; and sustainability solutions and services. SAP SE was founded in 1972 and is headquartered in Walldorf, Germany.Show more
  • Revenue$36.8B+7.7%
  • EBITDA$11.14B+87.4%
  • Net Income$7.04B+125.3%
  • EPS (Diluted)5.99+126.0%
  • Gross Margin73.76%+1.1%
  • EBITDA Margin30.27%+74.0%
  • Operating Margin26.71%+95.7%
  • Net Margin19.12%+109.2%
  • ROE15.46%+120.8%
  • ROIC16.04%+108.4%
  • Debt/Equity0.18-23.3%
  • Interest Coverage7.88+40.1%
Analysis→Technical→

SAP Key Insights

SAP SE (SAP) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 9/9
  • ✓FCF machine: 21.6% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy 5Y average net margin of 15.0%

✗Weaknesses

  • ✗Weak momentum: RS Rating 14 (bottom 14%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

SAP Price & Volume

SAP SE (SAP) stock price & volume — 10-year historical chart

Loading chart...

SAP Growth Metrics

SAP SE (SAP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years5.87%
5 Years6.12%
3 Years7.63%
TTM7.67%

Profit CAGR

10 Years8.67%
5 Years6.47%
3 Years45.52%
TTM125.28%

EPS CAGR

10 Years8.87%
5 Years6.61%
3 Years45.37%
TTM134.21%

Return on Capital

10 Years12.93%
5 Years12.15%
3 Years12.49%
Last Year18.18%

SAP Recent Earnings

SAP SE (SAP) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
Apr 23, 2026
EPS
$2.01
Est $1.92
+4.7%
Revenue
$11.2B
Est $11.2B
-0.1%
Q1 2026
Jan 29, 2026
EPS
$1.89
Est $1.77
+6.8%
Revenue
$11.6B
Est $11.4B
+1.4%
Q4 2025
Oct 22, 2025
EPS
$1.86
Est $1.69
+10.1%
Revenue
$10.6B
Est $9.8B
+8.8%
Q3 2025
Jul 22, 2025
EPS
$1.70
Est $1.63
+4.3%
Revenue
$10.6B
Est $9.2B
+15.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 23, 2026
$2.01vs $1.92+4.7%
$11.2Bvs $11.2B-0.1%
Q1 2026Jan 29, 2026
$1.89vs $1.77+6.8%
$11.6Bvs $11.4B+1.4%
Q4 2025Oct 22, 2025
$1.86vs $1.69+10.1%
$10.6Bvs $9.8B+8.8%
Q3 2025Jul 22, 2025
$1.70vs $1.63+4.3%
$10.6Bvs $9.2B+15.1%
Based on last 12 quarters of dataView full earnings history →

SAP Peer Comparison

SAP SE (SAP) competitors in Vertical industry SaaS applications — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ORCL logoORCLOracle CorporationDirect Competitor533.17B185.4542.738.38%25.3%56.31%4.96
MSFT logoMSFTMicrosoft CorporationDirect Competitor3.06T411.3530.1614.93%39.34%33.13%2.34%0.33
NOW logoNOWServiceNow, Inc.Direct Competitor95.34B92.0155.1020.88%12.59%14.98%4.8%0.25
INTU logoINTUIntuit Inc.Direct Competitor111.18B398.3229.1415.63%21.57%22.78%5.47%0.34
ADSK logoADSKAutodesk, Inc.Direct Competitor53.38B249.4347.6910.52%16.59%36.91%4.51%0.90
CRM logoCRMSalesforce, Inc.Product Competitor179.88B186.9923.979.58%17.96%12.61%8.01%0.11
WDAY logoWDAYWorkday, Inc.Product Competitor33.95B128.8849.9513.1%7.26%8.88%8.18%0.11
CDNS logoCDNSCadence Design Systems, Inc.Product Competitor97.63B353.6387.1014.12%20.94%21.68%1.63%0.45

Compare SAP vs Peers

SAP SE (SAP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ORCL

Most directly comparable listed peer for SAP.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare SAP against a more recognizable public peer.

Peer Set

Compare Top 5

vs ORCL, MSFT, NOW, INTU

SAP Income Statement

SAP SE (SAP) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue23.46B24.71B27.55B27.34B26.95B29.52B31.21B34.18B36.8B
Revenue Growth %6.34%5.32%11.51%-0.78%-1.41%9.52%5.72%9.51%7.68%
Cost of Goods Sold7.05B7.46B8.36B7.89B7.22B8.04B8.67B9.24B9.65B
COGS % of Revenue30.05%30.2%30.32%28.85%26.78%27.23%27.79%27.05%26.24%
Gross Profit
16.41B▲ 0%
17.25B▲ 5.1%
19.2B▲ 11.3%
19.45B▲ 1.3%
19.73B▲ 1.4%
21.48B▲ 8.9%
22.53B▲ 4.9%
24.93B▲ 10.6%
27.14B▲ 8.9%
Gross Margin %69.95%69.8%69.68%71.16%73.22%72.77%72.21%72.95%73.76%
Gross Profit Growth %6.01%5.09%11.32%1.32%1.44%8.86%4.9%10.64%8.88%
Operating Expenses11.53B11.54B14.72B12.83B13.43B15.57B16.73B20.27B17.32B
OpEx % of Revenue49.16%46.72%53.44%46.93%49.81%52.74%53.62%59.3%47.05%
Selling, General & Admin8B7.88B9.32B8.46B8.04B9.23B10.19B10.53B10.05B
SG&A % of Revenue34.09%31.89%33.83%30.95%29.84%31.28%32.66%30.8%27.31%
Research & Development3.35B3.62B4.29B4.45B5.27B6.08B6.32B6.51B6.37B
R&D % of Revenue14.29%14.67%15.58%16.29%19.55%20.6%20.26%19.06%17.3%
Other Operating Expenses182M40M1.11B-87M113M252M218M3.23B898.59M
Operating Income
4.88B▲ 0%
5.7B▲ 16.9%
4.47B▼ 21.6%
6.62B▲ 48.1%
6.31B▼ 4.8%
5.91B▼ 6.2%
5.8B▼ 1.9%
4.67B▼ 19.6%
9.83B▲ 110.7%
Operating Margin %20.79%23.08%16.23%24.23%23.4%20.03%18.58%13.65%26.71%
Operating Income Growth %-5.02%16.94%-21.57%48.07%-4.76%-6.25%-1.94%-19.56%110.72%
EBITDA6.15B7.07B6.34B8.45B7.84B7.48B7.17B5.95B11.14B
EBITDA Margin %26.21%28.59%23.03%30.92%29.11%25.35%22.98%17.4%30.27%
EBITDA Growth %-3.97%14.9%-10.19%33.24%-7.2%-4.61%-4.16%-17.11%87.4%
D&A (Non-Cash Add-back)1.27B1.36B1.87B1.83B1.54B1.57B1.37B1.28B1.31B
EBIT5.32B6.02B5.03B7.58B9.45B6.71B6.65B5.79B10.42B
Net Interest Income-194M-274M-247M-242M2.18B-1.39B-456M398M512.92M
Interest Income94M144M191M113M3.12B811M857M1.43B1.84B
Interest Expense288M418M438M355M945M2.2B1.31B1.03B1.32B
Other Income/Expense152M-103M123M597M2.2B-1.4B-458M99M653M
Pretax Income
5.03B▲ 0%
5.6B▲ 11.4%
4.6B▼ 17.9%
7.22B▲ 57.1%
8.51B▲ 17.8%
4.51B▼ 46.9%
5.34B▲ 18.3%
4.76B▼ 10.8%
10.48B▲ 120.0%
Pretax Margin %21.44%22.66%16.68%26.41%31.55%15.29%17.11%13.94%28.49%
Income Tax983M1.51B1.23B1.94B1.68B1.45B1.74B1.61B2.99B
Effective Tax Rate %19.55%26.98%26.68%26.84%19.78%32.04%32.6%33.88%28.53%
Net Income
4.01B▲ 0%
4.08B▲ 1.9%
3.32B▼ 18.7%
5.14B▲ 54.9%
5.26B▲ 2.2%
2.28B▼ 56.5%
6.14B▲ 168.8%
3.12B▼ 49.1%
7.04B▲ 125.3%
Net Margin %17.08%16.53%12.05%18.82%19.5%7.74%19.67%9.14%19.12%
Net Income Growth %10.05%1.87%-18.66%54.92%2.16%-56.54%168.78%-49.11%125.28%
Net Income (Continuing)4.05B4.09B3.37B5.28B6.82B3.07B3.6B3.15B7.2B
Discontinued Operations0000-1.45B-1.36B2.36B00
Minority Interest31M45M85.31M211M2.67B2.72B249M368M487.79M
EPS (Diluted)
3.35▲ 0%
3.42▲ 2.1%
2.80▼ 18.1%
4.35▲ 55.4%
4.56▲ 4.8%
1.95▼ 57.2%
5.20▲ 166.7%
2.65▼ 49.0%
5.99▲ 126.0%
EPS Growth %10.56%2.09%-18.13%55.36%4.83%-57.24%166.67%-49.04%126.04%
EPS (Basic)3.363.422.804.354.561.965.262.686.04
Diluted Shares Outstanding1.2B1.19B1.19B1.18B1.18B1.18B1.18B1.18B1.18B
Basic Shares Outstanding1.2B1.19B1.19B1.18B1.18B1.17B1.17B1.17B1.17B
Dividend Payout Ratio37.4%40.93%53.9%36.23%41.51%125.44%39.01%82.11%37.44%

SAP Balance Sheet

SAP SE (SAP) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets11.93B16.62B17.08B15.09B20.04B18.57B20.57B21.4B20.25B
Cash & Short-Term Investments5B9.07B6.3B6.95B11.66B9.86B11.28B11.24B9.77B
Cash Only4.01B8.63B5.96B5.31B8.9B9.01B8.12B9.61B8.22B
Short-Term Investments990M448M333.38M1.64B2.76B856M3.16B1.63B1.55B
Accounts Receivable6.21B6.66B9.44B6.8B6.75B6.24B6.97B7.74B7.27B
Days Sales Outstanding96.5498.31125.190.8391.4877.1181.5182.6372.11
Inventory0000588M0000
Days Inventory Outstanding----29.73----
Other Current Assets1.36B890M1.33B841M457M1.64B1.48B1.44B3.21B
Total Non-Current Assets30.57B34.87B50.51B43.39B51.13B53.59B51.01B52.72B50.08B
Property, Plant & Equipment2.97B3.55B6.17B5.04B4.98B4.93B4.28B4.49B4.5B
Fixed Asset Turnover7.91x6.95x4.47x5.42x5.42x5.98x7.30x7.61x8.19x
Goodwill21.27B23.73B32.73B27.56B31.09B33.11B29.09B31.15B29B
Intangible Assets2.97B3.23B5.04B3.78B3.97B3.83B2.5B2.71B2.28B
Long-Term Investments1.16B1.54B2.77B3.51B6.28B5.63B5.5B7.35B7.48B
Other Non-Current Assets1.18B1.81B2.4B2.33B3.04B4.04B5.45B4.35B4.66B
Total Assets
42.5B▲ 0%
51.49B▲ 21.2%
67.59B▲ 31.3%
58.48B▼ 13.5%
71.17B▲ 21.7%
72.16B▲ 1.4%
68.33B▼ 5.3%
74.12B▲ 8.5%
70.33B▼ 5.1%
Asset Turnover0.55x0.48x0.41x0.47x0.38x0.41x0.46x0.46x0.52x
Asset Growth %-4.19%21.16%31.27%-13.49%21.71%1.39%-5.3%8.47%-5.11%
Total Current Liabilities10.21B10.48B16.23B12.87B16.14B17.45B14.64B19.08B17.24B
Accounts Payable1.15B1.49B1.77B1.37B1.58B2.15B1.78B1.99B2.43B
Days Payables Outstanding59.5872.9377.5363.2779.8997.4575.0378.5891.86
Short-Term Debt1.3B768M3.28B1.48B3.76B3.98B1.14B3.64B2.05B
Deferred Revenue (Current)2.77B3.03B4.79B4B4.43B5.31B4.97B5.98B6.58B
Other Current Liabilities1.83B5.2B6.11B999M5.65B846M1.42B1.65B5.17B
Current Ratio1.17x1.59x1.05x1.17x1.24x1.06x1.40x1.12x1.17x
Quick Ratio1.17x1.59x1.05x1.17x1.21x1.06x1.40x1.12x1.17x
Cash Conversion Cycle----41.32----
Total Non-Current Liabilities6.75B12.13B16.76B15.68B13.51B11.86B12.29B9.23B7.87B
Long-Term Debt5B10.54B12.44B11.86B9.24B6.96B6.03B5.3B6.02B
Capital Lease Obligations002.04B1.74B1.74B1.79B1.33B1.42B0
Deferred Tax Liabilities240M97M92.05M158M291M242M265M215M71.97M
Other Non-Current Liabilities1.43B1.41B2.09B1.9B2.22B2.83B4.64B2.21B1.64B
Total Liabilities16.96B22.61B32.99B28.55B29.65B29.31B24.93B28.31B25.11B
Total Debt6.59B11.3B17.76B15.46B15.15B13.09B8.79B10.65B8.07B
Net Debt2.58B2.68B11.79B10.15B6.25B4.08B666M1.04B-148.94M
Debt / Equity0.26x0.39x0.51x0.52x0.36x0.31x0.20x0.23x0.18x
Debt / EBITDA1.07x1.60x2.80x1.83x1.93x1.75x1.23x1.79x0.72x
Net Debt / EBITDA0.42x0.38x1.86x1.20x0.80x0.54x0.09x0.18x-0.01x
Interest Coverage18.46x14.40x11.49x21.34x10.00x3.05x5.07x5.62x7.88x
Total Equity
25.54B▲ 0%
28.88B▲ 13.1%
34.6B▲ 19.8%
29.92B▼ 13.5%
41.52B▲ 38.8%
42.85B▲ 3.2%
43.41B▲ 1.3%
45.81B▲ 5.5%
45.22B▼ 1.3%
Equity Growth %-3.19%13.07%19.81%-13.51%38.76%3.2%1.29%5.53%-1.28%
Book Value per Share21.3224.1928.9825.3235.2036.4736.7838.8238.49
Total Shareholders' Equity25.51B28.83B34.51B29.71B38.85B40.13B43.16B45.44B44.73B
Common Stock1.23B1.23B1.38B1.23B1.23B1.23B1.23B1.23B1.23B
Retained Earnings24.79B27.41B32.31B32.02B37.02B36.37B42.46B42.91B47.49B
Treasury Stock-1.59B-1.58B-1.77B-3.07B-3.07B-4.34B-4.74B-5.95B-6.95B
Accumulated OCI507M1.23B1.99B-1.01B1.76B3.8B2.37B4.69B181.92M
Minority Interest31M45M85.31M211M2.67B2.72B249M368M487.79M

SAP Cash Flow Statement

SAP SE (SAP) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations5.04B4.3B3.5B7.2B6.22B5.65B6.33B5.22B8.65B
Operating CF Margin %21.5%17.42%12.69%26.32%23.09%19.13%20.29%15.27%23.5%
Operating CF Growth %9.01%-14.71%-18.73%105.75%-13.51%-9.27%12.15%-17.56%65.65%
Net Income4.06B4.09B3.39B5.28B6.82B2.28B5.96B3.12B7.04B
Depreciation & Amortization1.27B1.36B1.87B1.83B1.54B1.57B1.37B1.28B1.26B
Stock-Based Compensation1.12B830M1.82B1.08B1.33B1.43B2.22B00
Deferred Taxes970M1.51B1.23B1.94B1.68B1.38B1.74B00
Other Non-Cash Items-220M34M-4.09B-3.6B-5.37B-873M-4.95B223M1.2B
Working Capital Changes411M-853M-722M659M213M-143M-17M593M-852.95M
Change in Receivables-309M136M-1.47B821M497M196M-393M-247M-372.69M
Change in Inventory001.47B00-149M000
Change in Payables389M93M326M293M429M154M633M603M-500.44M
Cash from Investing-1.11B-3.07B-7.02B-2.99B-3.06B667M906M-667M-1.33B
Capital Expenditures-1.27B-1.46B-817M-816M-701M-874M-785M-797M-709.83M
CapEx % of Revenue5.43%5.9%2.97%2.98%2.6%2.96%2.52%2.33%1.93%
Acquisitions-291M-2.04B-6.15B-459M-1.1B-390M-1.16B-1B-558.07M
Investments---------
Other Investing96M56M72M88M-119M61M5.51B1M960.53K
Cash from Financing-3.41B3.28B101M-4B-56M-6.34B-7.73B-3.4B-7.85B
Debt Issued (Net)-1.36B4.96B1.91B-676M-647M-1.7B-4.4B1.27B-3.06B
Equity Issued (Net)-500M00-1.49B0-1.5B-949M-2.11B-1.86B
Dividends Paid-1.5B-1.67B-1.79B-1.86B-2.18B-2.87B-2.4B-2.56B-2.63B
Share Repurchases-500M00-1.49B0-1.5B-949M-2.11B-1.86B
Other Financing-43M-7M-19M35M2.77B-275M10M-2M-290.08M
Net Change in Cash
309M▲ 0%
4.62B▲ 1393.9%
-3.31B▼ 171.8%
-3M▲ 99.9%
3.59B▲ 119666.7%
110M▼ 96.9%
-884M▼ 903.6%
1.49B▲ 268.0%
-252.05M▼ 117.0%
Free Cash Flow
3.77B▲ 0%
2.85B▼ 24.5%
2.68B▼ 5.8%
6.38B▲ 138.0%
5.52B▼ 13.4%
4.77B▼ 13.6%
5.55B▲ 16.2%
4.42B▼ 20.3%
7.94B▲ 79.4%
FCF Margin %16.07%11.51%9.73%23.33%20.49%16.17%17.77%12.94%21.57%
FCF Growth %3.94%-24.54%-5.8%137.99%-13.42%-13.58%16.24%-20.26%79.45%
FCF per Share3.152.382.245.404.684.064.703.756.75
FCF Conversion (FCF/Net Income)1.26x1.05x1.05x1.40x1.18x2.47x1.03x1.67x1.23x
Interest Paid000244M00000
Taxes Paid000000000

SAP Key Ratios

SAP SE (SAP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)14.66%15.44%15.01%10.46%15.95%14.71%5.41%14.23%7%15.46%
Return on Invested Capital (ROIC)12.83%12.38%14.33%8.61%11.49%10.77%9.37%9.56%7.7%16.04%
Gross Margin70.16%69.95%69.8%69.68%71.16%73.22%72.77%72.21%72.95%73.76%
Net Margin16.51%17.08%16.53%12.05%18.82%19.5%7.74%19.67%9.14%19.12%
Debt / Equity0.31x0.26x0.39x0.51x0.52x0.36x0.31x0.20x0.23x0.18x
Interest Coverage19.81x18.46x14.40x11.49x21.34x10.00x3.05x5.07x5.62x7.88x
FCF Conversion1.27x1.26x1.05x1.05x1.40x1.18x2.47x1.03x1.67x1.23x
Revenue Growth6.11%6.34%5.32%11.51%-0.78%-1.41%9.52%5.72%9.51%7.68%

SAP Frequently Asked Questions

SAP SE (SAP) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

SAP SE (SAP) reported $36.80B in revenue for fiscal year 2025. This represents a 889% increase from $3.72B in 1996.

SAP SE (SAP) grew revenue by 7.7% over the past year. This is steady growth.

Yes, SAP SE (SAP) is profitable, generating $7.04B in net income for fiscal year 2025 (19.1% net margin).

Dividend & Returns

Yes, SAP SE (SAP) pays a dividend with a yield of 1.53%. This makes it attractive for income-focused investors.

SAP SE (SAP) has a return on equity (ROE) of 15.5%. This is reasonable for most industries.

SAP SE (SAP) generated $8.40B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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SAP SE (SAP) financial analysis — history, returns, DCA and operating performance tools

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