Company Valuation: SAP SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 147,329 112,276 162,380 274,903 242,644 243,478 - -
Change - -23.79% 44.63% 69.3% -11.73% 0.34% - -
Enterprise Value (EV) 1 151,243 116,785 160,588 273,208 239,263 241,409 238,671 231,098
Change - -22.78% 37.51% 70.13% -12.42% 0.9% -1.13% -3.17%
P/E 28x 49.2x 45.7x 89.2x 33.2x 29.4x 25.8x 21.9x
PBR 3.78x 2.81x 3.78x 6.06x 5.43x 5.14x 4.76x 4.22x
PEG - -0.9x 0.8x -6.8x 0x 2.1x 1.9x 1.2x
Capitalization / Revenue 5.29x 3.64x 5.2x 8.04x 6.59x 6.02x 5.37x 4.79x
EV / Revenue 5.43x 3.78x 5.15x 7.99x 6.5x 5.97x 5.27x 4.54x
EV / EBITDA 15.1x 11.8x 15.9x 29x 20.4x 18.5x 16x 13.5x
EV / EBIT 18.4x 14.5x 18.4x 33.5x 23x 20.3x 17.2x 14.3x
EV / FCF 30.2x 26.9x 29x 66.4x 29x 23.9x 20.6x 17.6x
FCF Yield 3.31% 3.72% 3.44% 1.51% 3.44% 4.18% 4.86% 5.69%
Dividend per Share 2 1.95 2.05 2.2 2.35 2.5 2.688 3.021 3.397
Rate of return 1.56% 2.13% 1.58% 0.99% 1.2% 1.27% 1.43% 1.61%
EPS 2 4.46 1.96 3.05 2.65 6.28 7.18 8.175 9.642
Distribution rate 43.7% 105% 72.1% 88.7% 39.8% 37.4% 36.9% 35.2%
Net sales 1 27,842 30,871 31,207 34,176 36,800 40,452 45,310 50,880
EBITDA 1 10,005 9,929 10,094 9,433 11,730 13,024 14,949 17,170
EBIT 1 8,230 8,033 8,721 8,153 10,419 11,882 13,845 16,161
Net income 1 5,383 1,714 3,564 3,124 7,492 8,469 9,488 11,185
Net Debt 1 3,914 4,509 -1,792 -1,695 -3,381 -2,070 -4,808 -12,381
Reference price 2 124.90 96.39 139.48 236.30 208.35 210.95 210.95 210.95
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.($)
26.15x9.74x15.8x0.76% 3,870B
103x47.15x76.02x-.--% 415B
19.23x5.7x9.9x1.59% 400B
217.04x18.84x55.16x-.--% 273B
29.38x5.97x18.54x1.27% 270B
1889.31x38.26x125.16x-.--% 235B
24.91x16x19.06x-.--% 134B
71.9x6.57x17.2x-.--% 107B
39.66x10.91x28.18x-.--% 94.12B
Average 268.95x 17.68x 40.56x 0.4% 644B
Weighted average by Cap. 116.87x 13.65x 26.42x 0.67%

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