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.

Below Fair Value: SAP (PLN1016) is trading above our estimate of fair value (PLN678.08)

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 Ratio100.3x
Earnings€2.75b
Market Cap€275.43b

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 Average46.1x
CRM Salesforce
55.4x14.4%US$328.9b
ADBE Adobe
35.4x12.8%US$196.8b
VRC Vercom
31.8x21.9%zł2.7b
INTU Intuit
61.7x17.3%US$180.2b
SAP SAP
100.3x41.4%zł275.4b

Price-To-Earnings vs Peers: SAP is expensive based on its Price-To-Earnings Ratio (100.3x) compared to the peer average (46.1x).

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 100.3xIndustry Avg. 14.1xNo. of Companies3PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SAP is expensive based on its Price-To-Earnings Ratio (100.3x) compared to the Polish Software industry average (14.1x).

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 Ratio100.3x
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
zł1,010.96
0%
13.8%zł1,278.31zł622.11n/a26
Dec ’25n/a
zł994.77
0%
14.1%zł1,174.65zł635.18n/a26
Nov ’25n/a
zł994.77
0%
14.1%zł1,174.65zł635.18n/a26
Oct ’25n/a
zł910.17
0%
13.7%zł1,047.90zł603.08n/a25
Sep ’25zł871.60
zł902.00
+3.5%
12.9%zł1,033.21zł607.01n/a25
Aug ’25n/a
zł893.72
0%
12.9%zł1,031.61zł606.07n/a25
Jul ’25zł775.90
zł828.76
+6.8%
13.1%zł992.79zł539.56n/a24
Jun ’25n/a
zł816.76
0%
13.1%zł980.97zł533.14n/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%zł707.12zł511.44zł871.6024
Aug ’24n/a
zł610.69
0%
8.7%zł687.10zł513.09n/a24
Jul ’24zł547.00
zł581.07
+6.2%
13.1%zł683.90zł301.98zł775.9026
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

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 Analysis2024/12/21 23:09
End of Day Share Price 2024/12/11 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

SAP SE is covered by 91 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