SAP SE (SAP.DE)

DCF Valuation · Technology · Software - Application

Valuation as at 2026-08-14 · see also the Europe Most Undervalued screen

About SAP SE

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.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

SAP SE SAP.DE

Technology · Software - Application

Price
€175.38
Market Cap
€202.42B
Free Cash Flow
€9.09B
Beta
0.76
P/E (TTM)
26.2x
52-Week Range
€127.50–€244.30

SAP SE's price & financial trends

Each card is labelled with its own reporting period — quarterly where Yahoo provides it for this market, annual otherwise.

Data as at 2026-08-14

Share price · last 2 years

€175.96 -11% vs 2024-08
STOXX Europe 600 €197.72€268.50€258.15€208.55€145.50€175.96 2024-082025-012025-062025-112026-042026-08

Earnings per share (diluted) Per quarter

€1.88 +25% vs Q1 '25
€1.51€1.44€1.57€1.65€1.88Q1 '25Q2 '25Q4 '25Q1 '26Q2 '26

Free cash flow Per quarter

€3.04B +27% vs Q2 '25
€2.39B€1.30B€1.12B€3.27B€3.04BQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26

Dividend per share Per quarter

€2.49 +7% vs Q2 '25
€2.33€0.00€0.00€2.49Q2 '25Q4 '25Q1 '26Q2 '26

Value investing scale · Buffett · Dalio · Graham

Strong Fit
15 / 20 combined score

See the full Buffett, Dalio & Graham breakdown for SAP.DE →

Intrinsic value estimate · 5-year forecast

BEAR
€177.16
vs current €175.38
+1.0% ⚠️ Fairly Valued
BASE
€315.83
vs current €175.38
+80.1% ✅ Undervalued
BULL
€574.25
vs current €175.38
+227.4% ✅ Undervalued

Assumptions used in this valuation

Every input below is either fetched live from Yahoo Finance or a documented default — nothing is hidden.

Starting free cash flow
€9.09B
Reported free cash flow (Yahoo)
Risk-free rate
3.20%
Fixed market seed
Beta
0.76
Floored for non-US stocks
Equity risk premium
5.50%
Market-specific seed
Cost of debt
3.80%
Synthetic rating AAA, ICR 19.6x
Tax rate
25.00%
Estimated default
Capital structure
E 95% / D 5%
Market cap vs total debt
Projection horizon
5 years
+ terminal value beyond
BearBaseBull
5-yr FCF growth10.0%20.0%30.0%
Terminal growth1.8%1.8%1.8%
WACC (discount rate)8.15%7.15%6.15%

Cost of Equity = Risk-free rate + Beta × Equity Risk Premium = 3.20% + 0.76 × 5.50% = 7.36% · WACC = weighted by 95%/5% capital structure

These numbers come from running SAP SE's cash flows through the mechanical DCF formula and assumptions above — not from any view on the news, management, or SAP.DE's competitive position. What is DCF?

Want to test your own growth or discount-rate assumptions?Open the full interactive calculator, pre-filled with SAP.DE →

More stocks we've valued

Not financial advice. DCF valuations are highly sensitive to assumptions — small changes in growth rate or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-08-14 from Yahoo Finance data, using the same engine as the full DCF tool and the Europe Most Undervalued screen. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is SAP SE (SAP.DE) undervalued?

The Base-case DCF estimates intrinsic value at €315.83 vs a price of €175.38 on 2026-08-14 — a +80.1% margin, so the Base case reads undervalued. This is a mechanical output, not advice.