Company Valuation: SAP SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 147,329 112,276 162,380 274,903 242,644 247,460 - -
Change - -23.79% 44.63% 69.3% -11.73% 1.98% - -
Enterprise Value (EV) 1 151,243 116,785 160,588 273,208 239,263 245,284 242,598 235,484
Change - -22.78% 37.51% 70.13% -12.42% 2.52% -1.1% -2.93%
P/E 28x 49.2x 45.7x 89.2x 33.2x 30x 26.5x 22.5x
PBR 3.78x 2.81x 3.78x 6.06x 5.43x 5.32x 4.9x 4.35x
PEG - -0.9x 0.8x -6.8x 0x 2.1x 2x 1.3x
Capitalization / Revenue 5.29x 3.64x 5.2x 8.04x 6.59x 6.12x 5.47x 4.87x
EV / Revenue 5.43x 3.78x 5.15x 7.99x 6.5x 6.06x 5.36x 4.64x
EV / EBITDA 15.1x 11.8x 15.9x 29x 20.4x 19x 16.3x 13.8x
EV / EBIT 18.4x 14.5x 18.4x 33.5x 23x 20.7x 17.7x 14.7x
EV / FCF 30.2x 26.9x 29x 66.4x 29x 24.4x 21.1x 18x
FCF Yield 3.31% 3.72% 3.44% 1.51% 3.44% 4.1% 4.75% 5.55%
Dividend per Share 2 1.95 2.05 2.2 2.35 2.5 2.688 3.02 3.397
Rate of return 1.56% 2.13% 1.58% 0.99% 1.2% 1.25% 1.41% 1.58%
EPS 2 4.46 1.96 3.05 2.65 6.28 7.157 8.104 9.547
Distribution rate 43.7% 105% 72.1% 88.7% 39.8% 37.6% 37.3% 35.6%
Net sales 1 27,842 30,871 31,207 34,176 36,800 40,448 45,271 50,799
EBITDA 1 10,005 9,929 10,094 9,433 11,730 12,918 14,905 17,076
EBIT 1 8,230 8,033 8,721 8,153 10,419 11,829 13,728 15,978
Net income 1 5,383 1,714 3,564 3,124 7,492 8,373 9,393 11,075
Net Debt 1 3,914 4,509 -1,792 -1,695 -3,381 -2,177 -4,863 -11,977
Reference price 2 124.90 96.39 139.48 236.30 208.35 214.40 214.40 214.40
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
26.44x9.75x15.92x0.74% 3,895B
126.43x55.94x91.06x-.--% 473B
18.9x5.5x9.58x1.59% 382B
225.19x19.61x57.41x-.--% 311B
29.88x6.1x19.08x1.25% 277B
2379.4x39.78x130.12x-.--% 264B
99.58x9.89x26.46x-.--% 164B
56.07x15.15x39.92x-.--% 132B
14.83x3.94x8.25x-.--% 103B
Average 330.75x 18.41x 44.20x 0.4% 666.92B
Weighted average by Cap. 150.36x 14.81x 29.45x 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