Company Valuation: SAP SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 147,329 112,276 162,380 274,903 242,644 227,308 - -
Change - -23.79% 44.63% 69.3% -11.73% -6.32% - -
Enterprise Value (EV) 1 151,243 116,785 160,588 273,208 239,263 225,307 222,568 214,895
Change - -22.78% 37.51% 70.13% -12.42% -5.83% -1.22% -3.45%
P/E 28x 49.2x 45.7x 89.2x 33.2x 27.8x 24.1x 20.5x
PBR 3.78x 2.81x 3.78x 6.06x 5.43x 4.87x 4.52x 4x
PEG - -0.9x 0.8x -6.8x 0x 2.2x 1.6x 1.2x
Capitalization / Revenue 5.29x 3.64x 5.2x 8.04x 6.59x 5.64x 5.05x 4.51x
EV / Revenue 5.43x 3.78x 5.15x 7.99x 6.5x 5.59x 4.94x 4.26x
EV / EBITDA 15.1x 11.8x 15.9x 29x 20.4x 17.6x 15.1x 12.8x
EV / EBIT 18.4x 14.5x 18.4x 33.5x 23x 19.2x 16.4x 13.8x
EV / FCF 30.2x 26.9x 29x 66.4x 29x 22.5x 19.5x 16.8x
FCF Yield 3.31% 3.72% 3.44% 1.51% 3.44% 4.45% 5.12% 5.95%
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% 1.36% 1.53% 1.72%
EPS 2 4.46 1.96 3.05 2.65 6.28 7.09 8.164 9.612
Distribution rate 43.7% 105% 72.1% 88.7% 39.8% 37.8% 36.8% 35.3%
Net sales 1 27,842 30,871 31,207 34,176 36,800 40,271 45,022 50,394
EBITDA 1 10,005 9,929 10,094 9,433 11,730 12,785 14,703 16,824
EBIT 1 8,230 8,033 8,721 8,153 10,419 11,724 13,536 15,531
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 96.39 139.48 236.30 208.35 196.94 196.94 196.94
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.($)
27.57x10.18x16.64x0.71% 4,035B
134.42x59.6x97.06x-.--% 501B
21.56x6.1x10.61x1.39% 434B
251.91x22.48x65.82x-.--% 325B
2612.1x43.77x143.15x-.--% 268B
27.93x5.6x17.67x1.36% 255B
88.98x8.72x22.93x-.--% 143B
61.62x16.65x43.87x-.--% 140B
510.23x21.75x85.96x-.--% 102B
Average 415.15x 21.65x 55.97x 0.38% 689.3B
Weighted average by Cap. 169.31x 16.10x 32.70x 0.62%

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