Company Valuation: SAP SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 147,329 112,276 162,380 274,903 242,644 182,571 - -
Change - -23.79% 44.63% 69.3% -11.73% -24.76% - -
Enterprise Value (EV) 1 151,243 116,785 160,588 273,208 239,263 180,486 177,309 169,053
Change - -22.78% 37.51% 70.13% -12.42% -24.57% -1.76% -4.66%
P/E 28x 49.2x 45.7x 89.2x 33.2x 22.6x 19.5x 16.6x
PBR 3.78x 2.81x 3.78x 6.06x 5.43x 3.97x 3.71x 3.28x
PEG - -0.9x 0.8x -6.8x 0x 1.9x 1.2x 0.9x
Capitalization / Revenue 5.29x 3.64x 5.2x 8.04x 6.59x 4.54x 4.06x 3.62x
EV / Revenue 5.43x 3.78x 5.15x 7.99x 6.5x 4.48x 3.94x 3.35x
EV / EBITDA 15.1x 11.8x 15.9x 29x 20.4x 14x 11.9x 9.91x
EV / EBIT 18.4x 14.5x 18.4x 33.5x 23x 15.3x 13x 10.7x
EV / FCF 30.2x 26.9x 29x 66.4x 29x 17.9x 15.4x 12.9x
FCF Yield 3.31% 3.72% 3.44% 1.51% 3.44% 5.6% 6.49% 7.74%
Dividend per Share 2 1.95 2.05 2.2 2.35 2.5 2.675 3.005 3.404
Rate of return 1.56% 2.13% 1.58% 0.99% 1.2% 1.68% 1.89% 2.14%
EPS 2 4.46 1.96 3.05 2.65 6.28 7.046 8.145 9.579
Distribution rate 43.7% 105% 72.1% 88.7% 39.8% 38% 36.9% 35.5%
Net sales 1 27,842 30,871 31,207 34,176 36,800 40,258 45,022 50,448
EBITDA 1 10,005 9,929 10,094 9,433 11,730 12,864 14,839 17,052
EBIT 1 8,230 8,033 8,721 8,153 10,419 11,824 13,666 15,735
Net income 1 5,383 1,714 3,564 3,124 7,492 8,183 9,219 10,776
Net Debt 1 3,914 4,509 -1,792 -1,695 -3,381 -2,086 -5,262 -13,518
Reference price 2 124.90 96.39 139.48 236.30 208.35 159.24 159.24 159.24
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.($)
18.63x5.36x9.57x1.71% 345B
68.22x6.68x17.87x-.--% 109B
33.74x3.22x11.65x0.2% 42.61B
13.36x82.63x704.67x-.--% 35.43B
33.63x13.09x21.29x-.--% 29.7B
34.79x2.13x19.51x-.--% 17.88B
24.7x3.55x11.95x - 13B
85.34x8.11x34.77x-.--% 12.43B
59.47x2.57x10.49x-.--% 11.42B
Average 41.32x 14.15x 93.53x 0.24% 68.55B
Weighted average by Cap. 31.56x 10.13x 52.53x 0.99%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield