Company Valuation: SAP SE

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 127,680 147,329 112,276 162,380 274,903 295,089 - -
Change - 15.39% -23.79% 44.63% 69.3% 7.34% - -
Enterprise Value (EV) 1 136,688 151,243 116,785 160,588 273,208 290,662 284,342 276,687
Change - 10.65% -22.78% 37.51% 70.13% 6.39% -2.17% -2.69%
P/E ratio 24.6x 28x 49.2x 45.7x 89.2x 42.1x 36.2x 29.7x
PBR 4.27x 3.78x 2.81x 3.78x 6.06x 6.15x 5.51x 4.95x
PEG - 11.07x -0.9x 0.8x -6.8x 0x 2.2x 1.4x
Capitalization / Revenue 4.67x 5.29x 3.64x 5.2x 8.04x 7.84x 7x 6.21x
EV / Revenue 5x 5.43x 3.78x 5.15x 7.99x 7.73x 6.75x 5.82x
EV / EBITDA 13.5x 15.1x 11.8x 15.9x 29x 24.9x 20.9x 17.6x
EV / EBIT 16.5x 18.4x 14.5x 18.4x 33.5x 27.8x 23.3x 19.3x
EV / FCF 22.8x 30.2x 26.9x 29x 66.4x 35.7x 28.5x 24.2x
FCF Yield 4.39% 3.31% 3.72% 3.44% 1.51% 2.8% 3.5% 4.12%
Dividend per Share 2 1.85 1.95 2.05 2.2 2.35 2.429 2.725 3.052
Rate of return 1.73% 1.56% 2.13% 1.58% 0.99% 0.96% 1.08% 1.21%
EPS 2 4.35 4.46 1.96 3.05 2.65 6.002 6.996 8.508
Distribution rate 42.5% 43.7% 105% 72.1% 88.7% 40.5% 38.9% 35.9%
Net sales 1 27,343 27,842 30,871 31,207 34,176 37,622 42,136 47,528
EBITDA 1 10,114 10,005 9,929 10,094 9,433 11,663 13,593 15,729
EBIT 1 8,283 8,230 8,033 8,721 8,153 10,453 12,218 14,332
Net income 1 5,280 5,383 1,714 3,564 3,124 6,912 8,181 9,800
Net Debt 1 9,008 3,914 4,509 -1,792 -1,695 -4,427 -10,747 -18,402
Reference price 2 107.22 124.90 96.39 139.48 236.30 252.95 252.95 252.95
Nbr of stocks (in thousands) 1,190,824 1,179,579 1,164,814 1,164,184 1,163,363 1,166,589 - -
Announcement Date 1/29/21 1/27/22 1/26/23 1/23/24 1/28/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
42.14x7.73x24.92x0.96% 340B
48.21x11.69x22.34x0.79% 591B
113.36x14.94x42.61x-.--% 204B
-22.79x230.95x2813.91x - 103B
85.11x6.66x24.34x0.11% 76.2B
68.36x22.76x41.25x-.--% 42.93B
1304.1x8.79x40.15x-.--% 28.71B
95.21x3.8x40.45x-.--% 24.61B
107.18x29.45x58.12x0.19% 23.57B
607.39x17.04x94.44x-.--% 20.78B
Average 244.83x 35.38x 320.25x 0.23% 145.48B
Weighted average by Cap. 87.94x 26.99x 226.51x 0.59%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield