German enterprise software company providing ERP, cloud, business AI, analytics, and digital operations solutions worldwide.MoreShow less
Profile & Fundamentals
SAP (SAP.XETRA) Profile & Fundamentals
Review SAP reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
SAP: Company Profile & Ownership
SAP SE, together with its subsidiaries, provides enterprise application and business solutions worldwide. It offers SAP Business AI; SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR, time, payroll, talent and employee experience management, and analytics and planning; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management. The company also provides SAP customer experience solutions; SAP Business Technology platform that enables customers and partners to build, integrate, and automate applications; and SAP Business Network, a business-to-business collaboration platform that helps digitalize key business processes across the supply chain and enables communication between trading partners. In addition, it offers SAP Signavio to help customers to discover, analyze, and understand business process operations; industry solutions that provide customers and partners with industry-specific solutions; and SAP LeanIX to visualize enterprise architecture, assess interdependencies and the potential impact of IT modernization, and manage the transition toward the target landscape. Further, the company provides WalkMe to execute workflows; SAP Enable Now, which offers e-learning content embedded in SAP workflows; Taulia solutions for working capital management; and sustainability solutions and services. Additionally, it provides services and support solutions. The company has a strategic collaboration with Fresenius SE & Co. KGaA and Avelios Medical GmbH for the development of a cloud-native, hospital information system that enables digitalization of clinical and administrative processes with AI integration. SAP SE was founded in 1972 and is headquartered in Walldorf, Germany.
Company profile record
SAP SE
Common Stock · Information Technology · Application Software
Company
- Company / asset
- SAP SE
- Security type
- Common Stock
- Sector
- Information Technology
- Industry
- Application Software
- HQ
- 🇩🇪 Germany
- Head office
- Dietmar-Hopp-Allee 16, Walldorf, Germany, 69190
Leadership & scale
- Chief executive
- Mr. Christian Klein
- CEO year born
- 1980
- Full-time employees
- 113.1K
- Fiscal year end
- December
- IPO date
- 1998-04-09
Fundamentals snapshot
- Market Cap
- EUR 244.4B
- P/E
- 30.4x
- Revenue (Q3 26)
- EUR 10.3B
- Profit (Q3 26)
- EUR 2.2B
- Dividend Yield
- 0.9%
- Revenue (FY 25)
- EUR 36.8B
- Shares in public float
- 1.1B
- Insider ownership
- 15.59%
Reporting & identifiers
- Symbol
- SAP.XETRA
- Listing
- 🇩🇪 Germany | Dividend Tax: 26.38%
- Ticker Currency
- EUR
- Income Statement Currency
- EUR
- Balance Sheet Currency
- EUR
- Cash Flow Currency
- EUR
- EPS Currency
- EUR
- Contract Type
- SPOT
- ISIN
- DE0007164600
- Asset ID
- equity_e2379ea8-6a57-5013-be82-8037aafa519d
SAP: Ownership
Shares Outstanding
Latest: 1.2B | Max: 1.2B | Min: 1.2B
Latest reported ownership snapshot
Float Shares
93.48%
1.1B latest reported shares
Insider Ownership
15.59%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 1,194,000,000 |
| 2018-01-01 | 1,194,000,000 |
| 2019-01-01 | 1,194,000,000 |
| 2020-01-01 | 1,182,000,000 |
| 2021-01-01 | 1,179,579,300 |
| 2022-01-01 | 1,172,000,000 |
| 2023-01-01 | 1,178,000,000 |
| 2024-01-01 | 1,176,000,000 |
| 2025-01-01 | 1,172,000,000 |
| 2026-01-01 | 1,164,000,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
SAP: Earnings, Profitability & Valuation
Latest Financials Filed On
Cash Flow: EUR→USD conversion reference as of . Historical periods use their own dated rates.
Income Statement: EUR→USD conversion reference as of . Historical periods use their own dated rates.
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The business has engineered an impressive financial turnaround as high-margin cloud subscriptions replace traditional software licenses. For fiscal 2025, operating profit more than doubled to 9.62 billion euros as heavy restructuring charges rolled off, while full-year revenue rose nearly eight percent. This recovery signals that cloud transition costs have peaked, turning software delivery into a highly predictable recurring revenue stream. Beneath headline figures, trailing twelve-month free cash flow reached ten billion euros, providing an honest scorecard of underlying cash generation. While reported quarterly net income occasionally fluctuates due to tax adjustments and acquisition costs, customer demand for core accounting software remains remarkably durable through economic cycles.
The business has engineered an impressive financial turnaround as high-margin cloud subscriptions replace traditional software licenses. For fiscal 2025, operating profit more than doubled to 9.62 billion euros as heavy restructuring charges rolled off, while full-year revenue rose nearly eight percent. This recovery signals that cloud transition costs have peaked, turning software delivery into a highly predictable recurring revenue stream. Beneath headline figures, trailing twelve-month free cash flow reached ten billion euros, providing an honest scorecard of underlying cash generation. While reported quarterly net income occasionally fluctuates due to tax adjustments and acquisition costs, customer demand for core accounting software remains remarkably durable through economic cycles.
Revenue, Net Income, and Free Cash Flow
Latest: EUR 36.8B | Max: EUR 36.8B | Min: EUR 2.3B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 34x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability has rebounded sharply as workforce reorganization efficiencies take hold across global software operations. Operating profit margins doubled from 13.7% in 2024 to 26.1% in 2025, reflecting the end of severance expenses and the expanding scale of subscription revenue. Meanwhile, gross margins held steady near seventy-three percent, demonstrating strong corporate pricing power. While paying commercial cloud hosting providers creates a minor drag on cloud gross margins, central administrative overhead is growing far slower than sales. This disciplined operating leverage ensures that each new subscription euro generates superior profit, establishing a clear path toward sustainable thirty percent operating margins over time.
Profitability has rebounded sharply as workforce reorganization efficiencies take hold across global software operations. Operating profit margins doubled from 13.7% in 2024 to 26.1% in 2025, reflecting the end of severance expenses and the expanding scale of subscription revenue. Meanwhile, gross margins held steady near seventy-three percent, demonstrating strong corporate pricing power. While paying commercial cloud hosting providers creates a minor drag on cloud gross margins, central administrative overhead is growing far slower than sales. This disciplined operating leverage ensures that each new subscription euro generates superior profit, establishing a clear path toward sustainable thirty percent operating margins over time.
Profitability Margins
Latest: 72.9% | Max: 73.2% | Min: 7.7%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
72.9%
Gross profit / revenue
Operating Margin
26.1%
Operating income / revenue
Net Margin
19.5%
Net income / revenue
FCF Margin
22.9%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 23,386,780,000 | 3,860,520,000 | 3,844,620,000 |
| 2017-12-31 | 27,918,590,000 | 4,769,520,000 | 4,487,490,000 |
| 2018-12-31 | 28,167,120,000 | 4,654,620,000 | 3,242,160,000 |
| 2019-12-31 | 30,859,360,000 | 3,719,520,000 | 3,001,600,000 |
| 2020-12-31 | 33,352,360,000 | 6,276,900,000 | 7,779,940,000 |
| 2021-12-31 | 30,726,420,000 | 5,991,840,000 | 6,182,220,000 |
| 2022-12-31 | 31,586,400,000 | 2,443,880,000 | 5,106,040,000 |
| 2023-12-31 | 34,327,700,000 | 6,752,900,000 | 6,007,100,000 |
| 2024-12-31 | 35,543,040,000 | 3,248,960,000 | 4,586,400,000 |
| 2025-12-31 | 43,056,000,000 | 8,378,370,000 | 9,847,890,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 34.1 | Trailing four quarters |
| 2024-12-31 | 89 | Trailing four quarters |
| 2023-12-31 | 45.7 | Trailing four quarters |
| 2022-12-31 | 34.5 | Annual net income |
| 2021-12-31 | 28 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 70.16 | 23.27 | 16.51 | 16.44 |
| 2017-12-31 | 69.95 | 20.79 | 17.08 | 16.07 |
| 2018-12-31 | 69.8 | 23.08 | 16.53 | 11.51 |
| 2019-12-31 | 69.69 | 22.99 | 12.05 | 9.73 |
| 2020-12-31 | 71.16 | 24.23 | 18.82 | 23.33 |
| 2021-12-31 | 73.22 | 23.4 | 19.5 | 20.12 |
| 2022-12-31 | 72.77 | 20.03 | 7.74 | 16.17 |
| 2023-12-31 | 72.21 | 18.58 | 19.67 | 17.5 |
| 2024-12-31 | 72.95 | 13.65 | 9.14 | 12.9 |
| 2025-12-31 | 72.86 | 26.14 | 19.46 | 22.87 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-10.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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