Company Valuation: SAP SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 147,329 112,276 162,380 274,903 242,644 214,566 - -
Change - -23.79% 44.63% 69.3% -11.73% -11.57% - -
Enterprise Value (EV) 1 151,243 116,785 160,588 273,208 239,263 212,509 209,420 201,870
Change - -22.78% 37.51% 70.13% -12.42% -11.18% -1.45% -3.61%
P/E 28x 49.2x 45.7x 89.2x 33.2x 26.4x 22.8x 19.4x
PBR 3.78x 2.81x 3.78x 6.06x 5.43x 4.64x 4.33x 3.83x
PEG - -0.9x 0.8x -6.8x 0x 2.2x 1.5x 1.1x
Capitalization / Revenue 5.29x 3.64x 5.2x 8.04x 6.59x 5.33x 4.77x 4.26x
EV / Revenue 5.43x 3.78x 5.15x 7.99x 6.5x 5.28x 4.66x 4.01x
EV / EBITDA 15.1x 11.8x 15.9x 29x 20.4x 16.6x 14.2x 11.9x
EV / EBIT 18.4x 14.5x 18.4x 33.5x 23x 18.1x 15.5x 13x
EV / FCF 30.2x 26.9x 29x 66.4x 29x 21.2x 18.4x 15.7x
FCF Yield 3.31% 3.72% 3.44% 1.51% 3.44% 4.72% 5.43% 6.35%
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% 1.44% 1.61% 1.82%
EPS 2 4.46 1.96 3.05 2.65 6.28 7.044 8.148 9.607
Distribution rate 43.7% 105% 72.1% 88.7% 39.8% 38% 36.8% 35.3%
Net sales 1 27,842 30,871 31,207 34,176 36,800 40,251 44,985 50,386
EBITDA 1 10,005 9,929 10,094 9,433 11,730 12,808 14,733 16,898
EBIT 1 8,230 8,033 8,721 8,153 10,419 11,709 13,513 15,512
Net income 1 5,383 1,714 3,564 3,124 7,492 8,183 9,219 10,857
Net Debt 1 3,914 4,509 -1,792 -1,695 -3,381 -2,057 -5,146 -12,696
Reference price 2 124.90 96.39 139.48 236.30 208.35 185.90 185.90 185.90
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 27/1/22 26/1/23 23/1/24 28/1/25 29/1/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.32x6.08x10.87x1.43% 411B
25.9x5.18x16.32x1.47% 244B
77.35x7.51x20.11x-.--% 124B
36.99x3.47x12.75x0.18% 45.74B
-46.77x77.3x666.24x-.--% 35.55B
28.56x11.24x18.35x-.--% 23.28B
36.91x2.44x22.18x-.--% 20.2B
102.03x9.77x39.68x-.--% 14.8B
-613.32x3.64x12.2x - 13.29B
Average -36.67x 14.07x 90.96x 0.38% 103.51B
Weighted average by Cap. 21.31x 8.70x 39.53x 1.04%

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