SAP SE

WSE:SAP Stock Report

Market Cap: zł876.1b

SAP Valuation

Is SAP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SAP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SAP (PLN758) is trading below our estimate of fair value (PLN1037.02)

Significantly Below Fair Value: SAP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SAP?

Other financial metrics that can be useful for relative valuation.

SAP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue6.3x
Enterprise Value/EBITDA26.3x
PEG Ratio2.4x

Price to Earnings Ratio vs Peers

How does SAP's PE Ratio compare to its peers?

The above table shows the PE ratio for SAP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average40.6x
ADBE Adobe
44.4x17.1%US$216.4b
TXT Text
12.5x1.4%zł2.4b
VRC Vercom
40.7x21.8%zł2.9b
CRM Salesforce
64.9x18.7%US$269.2b
SAP SAP
79.6x33.2%zł205.0b

Price-To-Earnings vs Peers: SAP is expensive based on its Price-To-Earnings Ratio (79.6x) compared to the peer average (40.6x).

Price to Earnings Ratio vs Industry

How does SAP's PE Ratio compare vs other companies in the PL Software Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a29.1%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a29.1%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: SAP is expensive based on its Price-To-Earnings Ratio (79.6x) compared to the Polish Software industry average (20x).

Price to Earnings Ratio vs Fair Ratio

What is SAP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SAP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio79.6x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SAP's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SAP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł758.00
zł803.44
+6.0%
17.1%zł990.40zł387.55n/a24
May ’25n/a
zł808.69
0%
17.1%zł996.87zł390.08n/a24
Apr ’25n/a
zł766.69
0%
17.2%zł991.13zł387.83n/a24
Mar ’25n/a
zł750.02
0%
15.4%zł884.92zł388.50n/a24
Feb ’25zł703.10
zł722.49
+2.8%
16.7%zł863.11zł388.40n/a24
Jan ’25n/a
zł609.26
0%
12.8%zł730.58zł386.78n/a26
Dec ’24zł600.00
zł620.72
+3.5%
11.5%zł723.03zł401.69n/a26
Nov ’24n/a
zł620.72
0%
11.5%zł723.03zł401.69n/a26
Oct ’24n/a
zł634.98
0%
9.1%zł734.27zł531.07n/a24
Sep ’24n/a
zł609.65
0%
8.9%zł707.12zł511.44n/a24
Aug ’24n/a
zł610.69
0%
8.7%zł687.10zł513.09n/a24
Jul ’24zł547.00
zł581.07
+6.2%
13.1%zł683.90zł301.98n/a26
Jun ’24n/a
zł582.68
0%
13.8%zł691.52zł305.35n/a25
May ’24n/a
zł585.41
0%
14.5%zł689.76zł312.69n/a26
Apr ’24n/a
zł552.41
0%
14.3%zł668.76zł318.01n/a25
Mar ’24n/a
zł548.52
0%
13.8%zł672.54zł319.81n/a27
Feb ’24n/a
zł548.52
0%
13.8%zł672.54zł319.81zł703.1027
Jan ’24n/a
zł533.46
0%
14.4%zł670.47zł318.83n/a27
Dec ’23n/a
zł530.38
0%
14.4%zł670.97zł319.06zł600.0027
Nov ’23n/a
zł532.30
0%
13.2%zł640.55zł322.65n/a27
Oct ’23n/a
zł523.91
0%
14.2%zł636.77zł320.74n/a27
Sep ’23n/a
zł521.55
0%
14.2%zł631.47zł318.08n/a26
Aug ’23n/a
zł527.89
0%
14.2%zł639.37zł322.05n/a26
Jul ’23n/a
zł575.40
0%
14.3%zł703.17zł318.77zł547.0025
Jun ’23n/a
zł569.61
0%
14.1%zł690.16zł312.87n/a26
May ’23n/a
zł588.27
0%
12.6%zł707.37zł379.62n/a27

Analyst Forecast: Target price is less than 20% higher than the current share price.

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