Company Valuation: SAP SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 147,329 112,276 162,380 274,903 242,644 229,940 - -
Change - -23.79% 44.63% 69.3% -11.73% -5.24% - -
Enterprise Value (EV) 1 151,243 116,785 160,588 273,208 239,263 227,939 225,200 217,526
Change - -22.78% 37.51% 70.13% -12.42% -4.73% -1.2% -3.41%
P/E 28x 49.2x 45.7x 89.2x 33.2x 28.4x 24.7x 21x
PBR 3.78x 2.81x 3.78x 6.06x 5.43x 4.92x 4.57x 4.04x
PEG - -0.9x 0.8x -6.8x 0x 2.4x 1.7x 1.2x
Capitalization / Revenue 5.29x 3.64x 5.2x 8.04x 6.59x 5.71x 5.11x 4.56x
EV / Revenue 5.43x 3.78x 5.15x 7.99x 6.5x 5.66x 5x 4.32x
EV / EBITDA 15.1x 11.8x 15.9x 29x 20.4x 17.8x 15.3x 12.9x
EV / EBIT 18.4x 14.5x 18.4x 33.5x 23x 19.5x 16.6x 13.9x
EV / FCF 30.2x 26.9x 29x 66.4x 29x 22.7x 19.7x 17x
FCF Yield 3.31% 3.72% 3.44% 1.51% 3.44% 4.4% 5.07% 5.89%
Dividend per Share 2 1.95 2.05 2.2 2.35 2.5 2.679 3.004 3.389
Rate of return 1.56% 2.13% 1.58% 0.99% 1.2% 1.34% 1.51% 1.7%
EPS 2 4.46 1.96 3.05 2.65 6.28 7.019 8.065 9.483
Distribution rate 43.7% 105% 72.1% 88.7% 39.8% 38.2% 37.3% 35.7%
Net sales 1 27,842 30,871 31,207 34,176 36,800 40,271 45,000 50,394
EBITDA 1 10,005 9,929 10,094 9,433 11,730 12,785 14,709 16,839
EBIT 1 8,230 8,033 8,721 8,153 10,419 11,700 13,579 15,644
Net income 1 5,383 1,714 3,564 3,124 7,492 8,222 9,251 10,847
Net Debt 1 3,914 4,509 -1,792 -1,695 -3,381 -2,001 -4,740 -12,413
Reference price 2 124.90 96.39 139.48 236.30 208.35 199.22 199.22 199.22
Nbr of stocks (in thousands) 1,179,579 1,164,814 1,164,184 1,163,363 1,164,600 1,154,200 - -
Announcement Date 1/27/22 1/26/23 1/23/24 1/28/25 1/29/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
28.38x5.66x17.83x1.34% 259B
26.83x9.91x16.18x0.73% 3,928B
119.93x52.98x86.28x-.--% 447B
19.3x5.59x9.74x1.56% 389B
216.99x19.31x56.52x-.--% 280B
2273.9x37.98x124.23x-.--% 233B
90.05x8.93x23.9x-.--% 147B
54.82x14.71x38.75x-.--% 124B
13.44x3.57x7.47x-.--% 95.43B
17.01x10.84x12.92x-.--% 89.06B
Average 286.07x 16.95x 39.38x 0.36% 599.14B
Weighted average by Cap. 131.52x 14.18x 27.62x 0.64%

Y-o-Y evolution of P/E

Valuation ratios - P/E - SAP SE

Historical PBR trend

Valuation ratios - PBR - SAP SE

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - SAP SE

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - SAP SE


Year-on-year evolution of the Yield

Valuation ratios - Yield - SAP SE