Last 47 quarters of trend data · Technology · Software - Application
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 33.28 | 20.49 | 25.94 | 38.68 | 39.07 | 52.80 | 44.44 | 45.26 | 46.19 | 66.35 | — | 38.26 | 29.94 | 12.76 | 77.16 | 54.89 | 35.64 | 81.00 | 44.03 | 28.48 | 28.37 |
| — | -61.2% | -41.6% | -14.5% | -15.4% | -20.4% | — | +18.3% | +54.3% | +419.9% | — | -30.3% | -16.0% | -84.2% | +75.2% | +92.7% | +25.6% | +165.3% | +26.2% | +41.5% | -3.9% | |
| P/S Ratio | 6.31 | 4.52 | 5.23 | 7.35 | 8.66 | 9.91 | 8.76 | 7.72 | 7.97 | 7.11 | 7.15 | 5.38 | 4.93 | 5.34 | 4.99 | 3.58 | 3.19 | 3.70 | 4.82 | 5.18 | 5.82 |
| — | -54.4% | -40.3% | -4.8% | +8.8% | +39.4% | +22.6% | +43.6% | +61.7% | +33.1% | +43.2% | +50.0% | +54.6% | +44.6% | +3.5% | -30.8% | -45.2% | -40.5% | -18.0% | +1.3% | -17.2% | |
| P/B Ratio | 5.18 | 3.94 | 4.41 | 6.30 | 7.27 | 8.65 | 6.35 | 6.32 | 6.51 | 5.62 | 5.31 | 4.20 | 3.53 | 3.50 | 3.46 | 2.64 | 2.07 | 2.49 | 3.07 | 3.50 | 4.33 |
| — | -54.4% | -30.5% | -0.4% | +11.8% | +53.8% | +19.6% | +50.7% | +84.4% | +60.4% | +53.6% | +58.6% | +70.5% | +40.8% | +12.7% | -24.4% | -52.2% | -39.2% | -28.4% | -32.0% | -30.9% | |
| P/FCF | 29.27 | 14.69 | 15.27 | 65.01 | 60.44 | 37.49 | 21.86 | — | 51.50 | 43.28 | 21.36 | 25.61 | 40.50 | 56.76 | 17.55 | 16.17 | 44.27 | 806.86 | 12.83 | 37.84 | 34.63 |
| — | -60.8% | -30.2% | — | +17.3% | -13.4% | +2.3% | — | +27.2% | -23.8% | +21.7% | +58.3% | -8.5% | -93.0% | +36.8% | -57.3% | +27.9% | +860.0% | +0.9% | +90.1% | -12.0% | |
| EV / EBITDA | 21.24 | 14.99 | 15.56 | 26.66 | 27.17 | 32.32 | 29.33 | 30.86 | 26.75 | 38.54 | 52.33 | 20.46 | 18.78 | 22.98 | 32.69 | 14.39 | 13.51 | 19.44 | 18.74 | 22.33 | 24.76 |
| — | -53.6% | -46.9% | -13.6% | +1.6% | -16.2% | -44.0% | +50.8% | +42.4% | +67.7% | +60.1% | +42.2% | +39.0% | +18.2% | +74.4% | -35.5% | -45.4% | -36.8% | -32.9% | +69.5% | -2.4% | |
| EV / EBIT | 24.13 | 13.36 | 15.66 | 32.51 | 25.02 | 32.38 | 28.62 | 28.92 | 28.30 | 36.32 | — | 22.95 | 18.88 | 27.15 | 39.36 | 34.50 | 20.90 | 28.21 | 24.06 | 21.16 | 23.05 |
| — | -58.7% | -45.3% | +12.4% | -11.6% | -10.9% | — | +26.0% | +49.9% | +33.8% | — | -33.5% | -9.7% | -3.8% | +63.6% | +63.1% | -9.3% | +21.9% | -13.1% | +61.3% | +1.7% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.9% | 73.2% | 73.0% | 71.4% | 73.5% | 73.3% | 73.3% | 74.0% | 73.3% | 72.6% | 71.7% | 73.3% | 72.8% | 71.6% | 71.0% | 71.9% | 72.7% | 72.7% | 72.2% | 73.0% | 71.4% |
| — | -0.2% | -0.4% | -3.5% | +0.2% | +1.0% | +2.3% | +1.0% | +0.8% | +1.4% | +0.9% | +1.9% | +0.1% | -1.5% | -1.6% | -1.5% | +1.9% | +2.7% | +2.6% | -2.4% | +0.4% | |
| Operating Margin | 26.1% | 26.8% | 28.8% | 24.2% | 27.4% | 27.2% | 25.9% | 21.5% | 26.1% | 14.7% | 9.8% | 22.5% | 22.2% | 18.1% | 10.8% | 20.2% | 20.8% | 14.7% | 21.7% | 18.3% | 18.2% |
| — | -1.4% | +11.3% | +12.5% | +4.8% | +84.6% | +164.5% | -4.2% | +17.5% | -18.8% | -9.3% | +11.1% | +6.8% | +23.4% | -50.3% | +10.2% | +14.1% | -0.3% | +43.6% | -48.0% | -19.0% | |
| Net Margin | 19.5% | 22.1% | 20.2% | 17.3% | 22.1% | 18.8% | 19.7% | 17.1% | 17.3% | 10.7% | -10.3% | 15.5% | 16.5% | 41.8% | 5.5% | 6.4% | 8.9% | 4.6% | 15.1% | 18.2% | 20.5% |
| — | +17.4% | +2.4% | +1.6% | +27.8% | +75.5% | +291.8% | +10.1% | +4.7% | -74.4% | -288.3% | +141.8% | +84.4% | +802.7% | -63.8% | -64.8% | -56.4% | -77.2% | -7.8% | -28.0% | -13.7% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.7% | 4.8% | 4.3% | 3.8% | 4.7% | 3.7% | 3.7% | 3.7% | 3.5% | 2.1% | -1.9% | 3.0% | 2.9% | 7.1% | 0.9% | 1.2% | 1.5% | 0.8% | 2.3% | 3.5% | 3.6% |
| — | +29.3% | +14.5% | +3.5% | +35.0% | +78.7% | +295.1% | +21.1% | +22.6% | -70.7% | -308.1% | +157.1% | +90.0% | +807.4% | -59.7% | -65.9% | -58.6% | -78.3% | -29.1% | -46.2% | -31.7% | |
| ROA | 9.9% | 2.9% | 2.7% | 2.4% | 2.9% | 2.3% | 2.3% | 2.2% | 2.1% | 1.2% | -1.2% | 1.9% | 1.8% | 4.2% | 0.5% | 0.7% | 0.9% | 0.4% | 1.3% | 2.0% | 2.0% |
| — | +29.3% | +17.6% | +8.7% | +40.2% | +82.5% | +294.9% | +15.6% | +17.8% | -70.7% | -320.2% | +180.6% | +103.9% | +861.3% | -59.1% | -65.5% | -56.7% | -77.1% | -21.9% | -38.5% | -22.5% | |
| ROIC | 15.7% | 4.9% | 5.1% | 4.4% | 4.9% | 4.1% | 3.7% | 3.4% | 3.9% | 2.1% | 1.3% | 3.2% | 3.0% | 2.3% | 1.2% | 2.4% | 2.2% | 1.6% | 2.1% | 2.2% | 2.0% |
| — | +21.7% | +39.1% | +30.0% | +24.5% | +91.7% | +172.9% | +5.6% | +32.0% | -7.3% | +8.7% | +34.3% | +34.1% | +43.9% | -40.9% | +7.6% | +10.2% | -2.3% | +18.8% | -55.4% | -27.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.22 | — | 0.18 | — | 0.21 | 0.22 | 0.23 | 0.26 | 0.21 | 0.22 | 0.20 | 0.25 | 0.26 | 0.30 | 0.31 | 0.39 | 0.32 | 0.40 | 0.36 | 0.42 |
| — | +3.8% | — | -23.3% | — | +1.7% | -1.0% | +14.8% | +4.6% | -20.8% | -26.3% | -33.7% | -36.2% | -18.7% | -25.6% | -16.3% | -6.7% | -27.4% | -17.1% | -29.4% | -31.2% | |
| Debt / EBITDA | 0.74 | 3.35 | — | 3.02 | — | 3.16 | 4.07 | 4.52 | 4.31 | 5.69 | 8.73 | 3.94 | 5.30 | 7.04 | 11.07 | 6.42 | 9.24 | 9.53 | 9.28 | 8.93 | 9.22 |
| — | +6.1% | — | -33.2% | — | -44.5% | -53.4% | +14.9% | -18.7% | -19.2% | -21.2% | -38.7% | -42.7% | -26.2% | +19.2% | -28.1% | +0.2% | -24.9% | -23.6% | +80.0% | -1.9% | |
| Current Ratio | 1.17 | 1.15 | 1.07 | 1.17 | 1.10 | 1.03 | 1.17 | 1.12 | 1.10 | 1.12 | 1.25 | 1.40 | 1.55 | 1.42 | 1.41 | 1.00 | 1.03 | 0.96 | 1.11 | 1.24 | 1.17 |
| — | +11.3% | -8.4% | +4.7% | +0.5% | -7.9% | -6.5% | -20.2% | -29.3% | -21.2% | -11.3% | +40.2% | +50.9% | +47.6% | +26.5% | -19.3% | -11.7% | -10.4% | -7.1% | +6.0% | +3.2% | |
| Quick Ratio | 1.17 | 1.15 | 1.07 | 1.17 | 1.10 | 1.03 | 1.17 | 1.12 | 1.10 | 1.12 | 1.25 | 1.40 | 1.55 | 1.42 | 1.01 | 1.00 | 1.03 | 0.96 | 1.11 | 1.24 | 1.17 |
| — | +11.3% | -8.4% | +4.7% | +0.5% | -7.9% | -6.5% | -20.2% | -29.3% | -21.2% | +22.9% | +40.2% | +50.9% | +47.6% | -8.7% | -19.3% | -11.7% | -10.4% | -7.1% | +6.0% | +3.2% | |
| Interest Coverage | 8.14 | 10.31 | 10.40 | 4.73 | 9.80 | 10.34 | 9.81 | 8.24 | 9.93 | 6.73 | -3.02 | 10.45 | 7.31 | 4.01 | 3.31 | 6.01 | 12.82 | 14.29 | 18.28 | 25.46 | 29.21 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying SAP stock.
SAP SE's current P/E is 33.3x. The average P/E over the last 4 quarters is 31.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
SAP SE's current operating margin is 26.1%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking SAP SE's business trajectory between earnings reports.