SAP SE

WSE:SAP Stock Report

Market Cap: zł1.2t

SAP Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • 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.

Discounted Cash Flow
Simply Wall St
zł741.83
Fair Value
49.7% overvalued intrinsic discount
26
Number of Analysts

Below Fair Value: SAP (PLN1110.4) is trading above our estimate of fair value (PLN741.83)

Significantly Below Fair Value: SAP is trading above our estimate of fair value.

Key Valuation Metric

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

Key metric: As SAP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for SAP. This is calculated by dividing SAP's market cap by their current earnings.
What is SAP's PE Ratio?
PE Ratio44.7x
Earnings€6.54b
Market Cap€292.08b

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 Average36.2x
CRM Salesforce
39.8x14.40%US$253.2b
INTU Intuit
63.2x15.88%US$225.2b
VRC Vercom
33x21.87%zł2.8b
TXT Text
9x-3.47%zł1.5b
SAP SAP
44.7x16.09%zł292.1b

Price-To-Earnings vs Peers: SAP is expensive based on its Price-To-Earnings Ratio (44.7x) compared to the peer average (36.5x).

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
No more companies available in this PE range
SAP 44.7xIndustry Avg. 21.3xNo. of Companies3PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SAP is expensive based on its Price-To-Earnings Ratio (44.7x) compared to the Polish Software industry average (21.3x).

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 Ratio44.7x
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
Currentn/a
zł1,227.78
0%
12.14%zł1,476.29zł821.59n/a26
Jul ’26zł1,078.20
zł1,218.00
+12.97%
13.06%zł1,486.37zł670.99n/a26
Jun ’26zł1,121.60
zł1,212.32
+8.09%
11.98%zł1,465.94zł671.36n/a26
May ’26zł1,040.80
zł1,188.64
+14.20%
10.80%zł1,370.36zł676.62n/a25
Apr ’26n/a
zł1,182.00
0%
11.99%zł1,338.52zł660.89n/a26
Mar ’26n/a
zł1,156.60
0%
12.69%zł1,332.46zł657.90n/a27
Feb ’26zł1,100.40
zł1,113.82
+1.22%
16.46%zł1,348.96zł632.33n/a26
Jan ’26n/a
zł1,010.96
0%
13.84%zł1,278.31zł622.11n/a26
Dec ’25n/a
zł984.02
0%
14.14%zł1,161.96zł628.32n/a26
Nov ’25n/a
zł994.77
0%
14.14%zł1,174.65zł635.18n/a26
Oct ’25n/a
zł912.75
0%
13.70%zł1,050.86zł604.78n/a25
Sep ’25zł871.60
zł897.62
+2.99%
12.89%zł1,028.21zł604.07n/a25
Aug ’25n/a
zł892.30
0%
12.92%zł1,029.98zł605.11n/a25
Jul ’25zł775.90
zł831.72
+7.19%
12.51%zł993.74zł540.08zł1,078.2024
Jun ’25n/a
zł819.28
0%
13.08%zł983.99zł534.78zł1,121.6024
May ’25n/a
zł808.69
0%
17.13%zł996.87zł390.08zł1,040.8024
Apr ’25n/a
zł766.69
0%
17.18%zł991.13zł387.83n/a24
Mar ’25n/a
zł749.79
0%
15.41%zł884.65zł388.38n/a24
Feb ’25zł703.10
zł722.49
+2.76%
16.73%zł863.11zł388.40zł1,100.4024
Jan ’25n/a
zł613.45
0%
12.81%zł735.61zł389.44n/a26
Dec ’24zł600.00
zł605.64
+0.94%
11.51%zł705.46zł391.92n/a26
Nov ’24n/a
zł620.72
0%
11.51%zł723.03zł401.69n/a26
Oct ’24n/a
zł634.98
0%
9.06%zł734.27zł531.07n/a24
Sep ’24n/a
zł612.63
0%
8.90%zł710.58zł513.94zł871.6024
Aug ’24n/a
zł602.71
0%
8.67%zł678.11zł506.38n/a24
AnalystConsensusTarget
Consensus Narrative from 26 Analysts
zł1.27k
Fair Value
12.6% undervalued intrinsic discount
26
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/31 18:15
End of Day Share Price 2025/07/21 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

SAP SE is covered by 90 analysts. 30 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Luis PereiraAlphaValue
Adam ShepherdArete Research Services LLP
Joseph BonnerArgus Research Company