SAP Stock Analysis: SAP SE | NYSE

Enterprise Applications, Cloud Platform, Business AI, Spend Management

Total Rating 49

Safety 75

Buy Signal 0.43

Software - Application
Industry Rotation: -0.5

Market Cap: 243B
Avg Turnover: 362M

Risk 3d forecast

Volatility24.3%

VaR 5^th Pctl4.18%

VaR vs Median4.65%

Reward TTM

Sharpe Ratio-0.56

Rel. Str. IBD72.6

Rel. Str. Peer Group58.2

Character TTM

Beta0.494

Beta Downside0.636

Hurst Exponent0.481

Drawdowns 3y

Max DD52.26%

CAGR/Max DD0.36

CAGR/Mean DD1.37

EPS (Earnings per Share)

EPS CAGR: 23.36%
EPS Trend: 95.1%

Last SUE: -1.84
Qual. Beats: -1

Revenue

Rev. CAGR: 8.29%
Rev. Trend: 99.3%

Last SUE: 0.00
Qual. Beats: 0

Warnings

No concerns identified

Tailwinds

Shakeout

Seasonality 11.7 years of data

Jan +0.3% 7

Feb -4.0% 32

Mar -0.1% 7

Apr +4.4% 21

May +2.5% 20

Jun -0.6% 8

Jul +1.1% 8

Aug +0.1% 17

Sep +0.6% 11

Oct -0.7% 0

Nov -2.8% 28

Dec -0.7% 14

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: SAP SAP SE

SAP SE is a German-headquartered enterprise software company founded in 1972 in Walldorf, Germany, and listed on the NYSE via an ADR facility since 1998. It is one of the worlds largest providers of enterprise application software, operating in the Application Software sub-industry of the Information Technology sector. Its mega-cap market valuation reflects its entrenched position among global corporations managing mission-critical business processes.

The companys core offering is SAP S/4HANA, an integrated ERP suite covering finance, procurement, manufacturing, supply chain, and asset management, which competes in the broader enterprise resource planning (ERP) market. SAP complements this with a portfolio of cloud-based solutions spanning human capital management (SuccessFactors), spend management, customer experience, and the SAP Business Technology Platform, which functions as a platform-as-a-service layer enabling integration, extension, and automation of applications.

A strategic focus is SAP Business AI, embedding artificial intelligence capabilities across its product suite, and SAP Business Network, a B2B collaboration platform that digitizes supply chain transactions between trading partners. The company also offers process mining and enterprise architecture tools (Signavio and LeanIX), digital adoption solutions (WalkMe), working capital management (Taulia), and sustainability solutions. Its recurring revenue model is heavily weighted toward software subscriptions and cloud services, a transition typical of legacy on-premise software vendors adapting to cloud computing demand.

SAP maintains strategic collaborations, including partnerships with Fresenius and Avelios Medical to co-develop a cloud-native hospital information system with AI integration, signaling its expansion into vertical-specific healthcare IT. The breadth of its portfolio positions SAP as a full-stack enterprise software provider competing across multiple software categories rather than as a single-product vendor.

Headlines to Watch Out For

S/4HANA cloud revenue accelerates enterprise subscription growth
Cloud transition lifts operating margins despite licensing decline
Euro weakness pressures reported USD revenue and earnings

Piotroski VR-10 (Strict) 6.0

Net Income: 7.80b TTM > 0 and > 6% of Revenue
FCF/TA: 0.12 > 0.02 and ΔFCF/TA 2.16 > 1.0
NWC/Revenue: 7.63% < 20% (prev 1.64%; Δ 5.99% < -1%)
CFO/TA 0.13 > 3% & CFO 9.46b > Net Income 7.80b
Net Debt (-2.00m) to EBITDA (12.9b): -0.00 < 3
Current Ratio: 1.15 > 1.5 & < 3
Outstanding Shares: last quarter (1.16b) vs 12m ago -1.27% < -2%
Gross Margin: 72.76% > 18% (prev 73.51%; Δ -0.75% > 0.5%)
Asset Turnover: 53.04% > 50% (prev 52.47%; Δ 0.58% > 0%)
Interest Coverage Ratio: 8.04 > 6 (EBIT TTM 11.6b / Interest Expense TTM 1.44b)

Altman Z'' 4.98

A: 0.04 (Total Current Assets 22.6b - Total Current Liabilities 19.7b) / Total Assets 75.6b
B: 0.64 (Retained Earnings 48.6b / Total Assets 75.6b)
C: 0.16 (EBIT TTM 11.6b / Avg Total Assets 72.0b)
D: 1.47 (Book Value of Equity 44.7b / Total Liabilities 30.4b)
Altman-Z'' = 4.98 = AAA

Beneish M -2.92

DSRI: 1.07 (Receivables 7.76b/6.81b, Revenue 38.2b/35.9b)
GMI: 1.01 (GM 73.51% / 72.76%)
AQI: 0.99 (AQ_t 0.64 / AQ_t-1 0.65)
SGI: 1.06 (Revenue 38.2b / 35.9b)
TATA: -0.02 (NI 7.80b - CFO 9.46b) / TA 75.6b)
Beneish M = -2.92 (Cap -4..+1) = A

What is the price of SAP shares?

As of October 09, 2026, the stock is trading at USD 212.40 with a total of 2,254,317 shares traded. Over the past week, the price has changed by +0.76%, over one month by +0.43%, over three months by +34.93% and over the past year by -22.03%.

Current recommended Stop Loss: 201.60 (which is 5.1% or 2.1 ATR below the current price).

Is SAP a buy, sell or hold?

SAP SE has received a consensus analysts rating of 4.38. Therefore, it is recommended to buy SAP.

StrongBuy: 9
Buy: 4
Hold: 3
Sell: 0
StrongSell: 0

What are the forecasts/targets for the SAP price?

Analysts Target Price	251.5	18.4%

SAP SE (SAP) - Fundamental Data Overview as of 03 October 2026

Market Cap USD = 243b (243b USD * 1.0 USD.USD)
Market Cap EUR = 217b (243b USD * 0.89279997348785 USD.EUR)
P/E Trailing = 27.8454
P/E Forward = 20.6612
P/S = 6.3703
P/B = 3.9246
P/EG = 1.5244
Revenue TTM = 38.2b EUR
EBIT TTM = 11.6b EUR
EBITDA TTM = 12.9b EUR
Long Term Debt = 4.19b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.76b EUR (from shortTermDebt, last quarter)
Debt = 11.6b EUR (from shortLongTermDebtTotal, last quarter) + Leases 1.68b
Net Debt = -2.00m EUR (calculated: Debt 11.6b - CCE 11.6b)
Enterprise Value = 217b EUR (217b + Debt 11.6b - CCE 11.6b)
Interest Coverage Ratio = 8.04 (Ebit TTM 11.6b / Interest Expense TTM 1.44b)
EV/FCF = 24.88x (Enterprise Value 217b / FCF TTM 8.73b)
FCF Yield = 4.02% (FCF TTM 8.73b / Enterprise Value 217b)
FCF Margin = 22.86% (FCF TTM 8.73b / Revenue TTM 38.2b)
Net Margin = 20.41% (Net Income TTM 7.80b / Revenue TTM 38.2b)
Gross Margin = 72.76% ((Revenue TTM 38.2b - Cost of Revenue TTM 10.4b) / Revenue TTM)
Gross Margin QoQ = 73.17% (prev 72.98%)
Tobins Q-Ratio = 2.87 (Enterprise Value 217b / Total Assets 75.6b)
Interest Expense / Debt = 12.42% (Interest Expense 1.44b / Debt 11.6b)
Taxrate = 28.19% (3.12b / 11.1b)
NOPAT = 8.34b (EBIT 11.6b * (1 - 28.19%))
Current Ratio = 1.15 (Total Current Assets 22.6b / Total Current Liabilities 19.7b)
Debt / Equity = 0.26 (Debt 11.6b / totalStockholderEquity, last quarter 44.7b)
Debt / EBITDA = -0.00 (Net Debt -2.00m / EBITDA 12.9b)
Debt / FCF = -0.00 (Net Debt -2.00m / FCF TTM 8.73b)
Total Stockholder Equity = 44.3b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.83% (Net Income 7.80b / Total Assets 75.6b)
RoE = 17.60% (Net Income TTM 7.80b / Total Stockholder Equity 44.3b)
RoCE = 23.95% (EBIT 11.6b / Capital Employed (Equity 44.3b + L.T.Debt 4.19b))
RoIC = 14.96% (NOPAT 8.34b / Invested Capital 55.7b)
WACC = 7.78% (E(217b)/V(229b) * Re(7.72%) + D(11.6b)/V(229b) * Rd(12.42%) * (1-Tc(0.28)))
Discount Rate = 7.72% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -65.16 | Cagr: -0.80%
[DCF] Terminal Value 77.97% ; FCFF base≈7.81b ; Y1≈8.95b ; Y5≈13.2b
[DCF] Fair Price = 171.7 (EV 198b - Net Debt -2.00m = Equity 198b / Shares 1.15b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 95.13 | EPS CAGR: 23.36% | SUE: -1.84 | # QB: -1
Revenue Correlation: 99.32 | Revenue CAGR: 8.29% | SUE: -0.00 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.09 | Chg30d=+0.23% | Revisions=+25% | Analysts=6
EPS current Year (2026-12-31): EPS=8.24 | Chg30d=+0.64% | Revisions=+50% | GrowthEPS=+12.3% | GrowthRev=+9.4%
EPS next Year (2027-12-31): EPS=9.69 | Chg30d=+0.63% | Revisions=+50% | GrowthEPS=+17.6% | GrowthRev=+11.8%
[Analyst] Revisions Ratio: +70% (up=7, down=0)