SAP SE
F:SAP

Watchlist Manager
SAP SE Logo
SAP SE
F:SAP
Watchlist
Price: 153.4 EUR 2.24% Market Closed
Market Cap: €178.9B

EV/EBITDA

14.7
Current
37%
Cheaper
vs 3-y average of 23.2

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
14.7
=
Enterprise Value
€169.9B
/
EBITDA
€11.7B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
14.7
=
Enterprise Value
€169.9B
/
EBITDA
€11.7B

Valuation Scenarios

SAP SE is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (23.2), the stock would be worth €242.85 (58% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-39%
Maximum Upside
+58%
Average Upside
4%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 14.7 €153.4
0%
3-Year Average 23.2 €242.85
+58%
5-Year Average 17.1 €178.21
+16%
Industry Average 11.9 €124.24
-19%
Country Average 9 €94.07
-39%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
€169.9B
/
Jan 2026
€11.7B
=
14.7
Current
€169.9B
/
Dec 2026
€13.3B
=
12.8
Forward
€169.9B
/
Dec 2027
€15.4B
=
11
Forward
€169.9B
/
Dec 2028
€17.6B
=
9.7
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
DE
SAP SE
F:SAP
175.2B EUR 14.7 23.9
US
Ezenia! Inc
OTC:EZEN
567B USD -182 667.2 -180 630.8
US
Palantir Technologies Inc
NASDAQ:PLTR
348.9B USD 236.1 213.5
US
Salesforce Inc
NYSE:CRM
174.5B USD 14 23.4
US
Applovin Corp
NASDAQ:APP
166.1B USD 38.4 49.8
US
Intuit Inc
NASDAQ:INTU
112.3B USD 18.1 25.8
US
Adobe Inc
NASDAQ:ADBE
100.9B USD 10.1 14
US
NCR Corp
LSE:0K45
91.5B USD 245.6 2 178.4
US
Synopsys Inc
NASDAQ:SNPS
86.1B USD 46.9 80.1
US
Cadence Design Systems Inc
NASDAQ:CDNS
86.6B USD 45.6 78.1
US
Microstrategy Inc
NASDAQ:MSTR
58.8B USD -13.1 -12.6
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
DE
SAP SE
F:SAP
Average EV/EBITDA: 74.4
14.7
15%
1
US
Ezenia! Inc
OTC:EZEN
Negative Multiple: -182 667.2 N/A N/A
US
Palantir Technologies Inc
NASDAQ:PLTR
236.1
84%
2.8
US
Salesforce Inc
NYSE:CRM
14
22%
0.6
US
Applovin Corp
NASDAQ:APP
38.4
36%
1.1
US
Intuit Inc
NASDAQ:INTU
18.1
27%
0.7
US
Adobe Inc
NASDAQ:ADBE
10.1
14%
0.7
US
N
NCR Corp
LSE:0K45
245.6
9%
27.3
US
Synopsys Inc
NASDAQ:SNPS
46.9
47%
1
US
Cadence Design Systems Inc
NASDAQ:CDNS
45.6
25%
1.8
US
Microstrategy Inc
NASDAQ:MSTR
Negative Multiple: -13.1 N/A N/A
P/E Multiple
Earnings Growth PEG
DE
SAP SE
F:SAP
Average P/E: 298.6
23.9
17%
1.4
US
Ezenia! Inc
OTC:EZEN
Negative Multiple: -180 630.8 N/A N/A
US
Palantir Technologies Inc
NASDAQ:PLTR
213.5
58%
3.7
US
Salesforce Inc
NYSE:CRM
23.4
29%
0.8
US
Applovin Corp
NASDAQ:APP
49.8
38%
1.3
US
Intuit Inc
NASDAQ:INTU
25.8
30%
0.9
US
Adobe Inc
NASDAQ:ADBE
14
20%
0.7
US
N
NCR Corp
LSE:0K45
2 178.4
52%
41.9
US
Synopsys Inc
NASDAQ:SNPS
80.1
44%
1.8
US
Cadence Design Systems Inc
NASDAQ:CDNS
78.1
39%
2
US
Microstrategy Inc
NASDAQ:MSTR
Negative Multiple: -12.6 N/A N/A

Market Distribution

Higher than 75% of companies in Germany
Percentile
75th
Based on 2 491 companies
75th percentile
15
Low
0.1 — 6.2
Typical Range
6.2 — 13.6
High
13.6 —
Distribution Statistics
Germany
Min 0.1
30th Percentile 6.2
Median 9
70th Percentile 13.6
Max 6 112.6

SAP SE
Glance View

SAP SE, launched in the early 1970s by five former IBM employees, transformed Germany's technology landscape with its pioneering approach to enterprise resource planning (ERP) software. The founders, envisioning a solution to optimize business processes, created a system that seamlessly integrated various functions like finance, human resources, and logistics into a single platform. This innovative approach allowed companies to enhance efficiency, transparency, and decision-making capabilities. Over the decades, SAP has not only refined its core ERP applications but has also expanded its suite with a wide range of business software solutions, including supply chain management, customer relationship management, and data analytics, leveraging the power of cloud computing to solidify its place as a dominant force in the global software market. SAP's revenue model hinges on licensing fees for its software products and subscription-based services. Its traditional on-premise solutions require an upfront investment for licenses and ongoing maintenance fees, while its cloud offerings cater to businesses looking for scalable, pay-as-you-go solutions. Furthermore, SAP generates revenue through professional services, advisory roles, and support plans, providing clients with implementation, customization, and continuous assistance. By maintaining strong relationships with its expansive ecosystem of partners, SAP ensures that its software continues to evolve and adapt to the ever-changing demands of today's digital economy, cementing its status as a crucial backbone for enterprises worldwide.

SAP Intrinsic Value
LOCKED
Unlock
Get AI-powered insights for any company or topic.
Open AI Assistant

Intrinsic Value is all-important and is the only logical way to evaluate the relative attractiveness of investments and businesses.

Warren Buffett