Company Valuation: SAP SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,47,329 1,12,276 1,62,380 2,74,903 2,42,644 2,04,593 - -
Change - -23.79% 44.63% 69.3% -11.73% -15.68% - -
Enterprise Value (EV) 1 1,51,243 1,16,785 1,60,588 2,73,208 2,39,263 2,02,598 1,99,885 1,92,228
Change - -22.78% 37.51% 70.13% -12.42% -15.32% -1.34% -3.83%
P/E 28x 49.2x 45.7x 89.2x 33.2x 25.1x 21.8x 18.5x
PBR 3.78x 2.81x 3.78x 6.06x 5.43x 4.42x 4.13x 3.65x
PEG - -0.9x 0.8x -6.8x 0x 2x 1.4x 1x
Capitalization / Revenue 5.29x 3.64x 5.2x 8.04x 6.59x 5.08x 4.55x 4.06x
EV / Revenue 5.43x 3.78x 5.15x 7.99x 6.5x 5.03x 4.44x 3.82x
EV / EBITDA 15.1x 11.8x 15.9x 29x 20.4x 15.9x 13.6x 11.4x
EV / EBIT 18.4x 14.5x 18.4x 33.5x 23x 17.3x 14.8x 12.4x
EV / FCF 30.2x 26.9x 29x 66.4x 29x 20.2x 17.6x 15x
FCF Yield 3.31% 3.72% 3.44% 1.51% 3.44% 4.95% 5.69% 6.66%
Dividend per Share 2 1.95 2.05 2.2 2.35 2.5 2.676 3.002 3.39
Rate of return 1.56% 2.13% 1.58% 0.99% 1.2% 1.51% 1.69% 1.91%
EPS 2 4.46 1.96 3.05 2.65 6.28 7.059 8.143 9.585
Distribution rate 43.7% 105% 72.1% 88.7% 39.8% 37.9% 36.9% 35.4%
Net sales 1 27,842 30,871 31,207 34,176 36,800 40,253 44,987 50,383
EBITDA 1 10,005 9,929 10,094 9,433 11,730 12,763 14,666 16,802
EBIT 1 8,230 8,033 8,721 8,153 10,419 11,702 13,494 15,472
Net income 1 5,383 1,714 3,564 3,124 7,492 8,184 9,220 10,858
Net Debt 1 3,914 4,509 -1,792 -1,695 -3,381 -1,996 -4,709 -12,366
Reference price 2 124.90 96.39 139.48 236.30 208.35 177.26 177.26 177.26
Nbr of stocks (in thousands) 11,79,579 11,64,814 11,64,184 11,63,363 11,64,600 11,54,200 - -
Announcement Date 27/01/22 26/01/23 23/01/24 28/01/25 29/01/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.35x6.31x10.84x1.32% 45TCr
25.11x5.03x15.87x1.51% 24TCr
85.79x8.35x22.34x-.--% 14TCr
-5.01x103.52x1445.08x-.--% 5.03TCr
34.93x3.29x12.1x0.19% 4.32TCr
26.22x10.46x17.09x-.--% 2.13TCr
33.58x2.21x20.13x-.--% 1.86TCr
-207.78x3.68x12.33x - 1.34TCr
36.67x3.18x8.67x-.--% 1.23TCr
Average 5.87x 16.23x 173.83x 0.38% 10.98TCr
Weighted average by Cap. 28.77x 11.04x 87.06x 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

40% Discount: Identify Tomorrow's Best Investments With The Best Subscriber-Only Tools!
d
:
:
SEIZE THE OFFER!