SAP SE
Closing price on Nov 11, 2026 · Source: Yahoo Finance
- Open
- €208.60
- Day range
- 207.75 – €211.50
- 52-week range
- 127.50 – €220.40
- Volume
- 282,540
- Market cap
- €241,113M
- P/E (TTM)
- 30.5x
- EPS (TTM)
- €6.85
- EPS est. 2026
- €7.16
- P/E est. 2026
- 29.2x
- Dividend yield
- 1.2%
- Beta
- 0.70
- Payout
- 36%
Analyst summary
Generated with AI · Nov 11, 2026, 14:35SAP SE is a global provider of enterprise software spanning finance, procurement, supply chains, human resources, customer experience and business technology. Its latest quarter showed continued growth, with revenue up 13.2% year on year and free cash flow up 34.7%. Net margin edged down, while quarterly EPS exceeded its consensus estimate in Q3 after missing in Q2. The shares trade at 30.5x trailing earnings; analysts’ median target of €240.00 implies +14.9% upside from the quoted price.
- 1Q3 2026 revenue rose 13.2% year on year to €10,270M.
- 2Q3 2026 free cash flow increased 34.7% to €1,753M.
- 3The 30.5x trailing P/E compares with a 24.6x 2027 forward P/E.
SAP financials
Q3 2026 results, quarter ended Sep 30, 2026
| Metric | Q3 2026 | 1-year change |
|---|---|---|
| Total revenue | €10,270M | +13.2% |
| Net income | €2,249M | +12.2% |
| Earnings per share | €1.94 | +11.7% |
| Net margin | 21.9% | −0.2 pp |
| Free cash flow | €1,753M | +34.7% |
| Debt / equity | 0.23 | +8.1% |
Revenue and net income (€M)
| Quarter | Total revenue | Net income |
|---|---|---|
| Q3 2025 | €9,076M | €2,004M |
| Q4 2025 | €9,684M | €1,680M |
| Q1 2026 | €9,555M | €1,932M |
| Q2 2026 | €9,878M | €2,180M |
| Q3 2026 | €10,270M | €2,249M |
SAP earnings per share (EPS)
Consensus estimates
| Period | EPS est. | 1-year change |
|---|---|---|
| Current quarterQ4 2026 · Analysts: 10 | €1.9801.90 – 2.18 | +22.3%€1.620 |
| Next quarterQ1 2027 · Analysts: 4 | €1.9881.94 – 2.01 | +15.6%€1.720 |
| Current year2026 · Analysts: 24 | €7.1636.62 – 7.98 | +16.5%€6.150 |
| Next year2027 · Analysts: 23 | €8.4867.74 – 9.64 | +18.5%€7.163 |
Forward P/E: 29.2x (2026) and 24.6x (2027) at the current price.
Actual and estimated EPS (€)
| Quarter | Actual EPS | Estimated EPS |
|---|---|---|
| Q3 2025 | €1.736 | — |
| Q4 2025 | €1.620 | €1.506 |
| Q1 2026 | €1.720 | €1.659 |
| Q2 2026 | €1.590 | €1.753 |
| Q3 2026 | €1.890 | €1.833 |
| Q4 2026 | — | €1.980 |
| Q1 2027 | — | €1.988 |
| Year | Actual EPS | Estimated EPS |
|---|---|---|
| 2022 | €1.950 | — |
| 2023 | €5.170 | — |
| 2024 | €2.650 | — |
| 2025 | €6.100 | — |
| 2026 | — | €7.163 |
| 2027 | — | €8.486 |
EPS trend
| Quarter | EPS | YoY change |
|---|---|---|
| Q1 2027Estimated | €1.988 | +15.6% |
| Q4 2026Estimated | €1.980 | +22.2% |
| Q3 2026 | €1.890est. €1.833 · surprise +3.1% | +8.9% |
| Q2 2026 | €1.590est. €1.753 · surprise −9.3% | n/a |
| Q1 2026 | €1.720est. €1.659 · surprise +3.7% | n/a |
| Q4 2025 | €1.620est. €1.506 · surprise +7.6% | n/a |
| Q3 2025 | €1.736 | n/a |
| Year | EPS | Annual change |
|---|---|---|
| 2027Estimated | €8.486 | +18.5% |
| 2026Estimated | €7.163 | +17.4% |
| 2025 | €6.100 | +130.2% |
| 2024 | €2.650 | −48.7% |
| 2023 | €5.170 | +165.1% |
| 2022 | €1.950 | n/a |
Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.
SAP dividend
Yield and payments
| Dividend yield (TTM) | 1.2% |
| Forward yield (next 12m) | 1.2% |
| Dividend per share (TTM) | €2.50 |
| Forward dividend (next 12m) | €2.50 |
| Payout (TTM) | 36% |
| Last dividend | €2.50May 6, 2026 |
| Next ex-dividend date | n/a |
Dividend per share by year (€)
| Year | Dividend per share |
|---|---|
| 2019 | €1.50 |
| 2020 | €1.58 |
| 2021 | €1.85 |
| 2022 | €2.45 |
| 2023 | €2.05 |
| 2024 | €2.20 |
| 2025 | €2.35 |
| est. 12m | €2.50 |
SAP forecasts
29 analyst ratings
Consensus: Buy · 24 buy, 5 hold, 0 sell
1-year price forecast
| Target | Price | Upside |
|---|---|---|
| High | €290.00 | +38.8% |
| Median | €240.00 | +14.9% |
| Low | €198.84 | −4.8% |
| Date | Close |
|---|---|
| Nov 28, 2025 | €208.55 |
| Dec 30, 2025 | €208.35 |
| Jan 30, 2026 | €170.56 |
| Feb 27, 2026 | €170.96 |
| Mar 31, 2026 | €146.90 |
| Apr 30, 2026 | €145.50 |
| May 29, 2026 | €155.26 |
| Jun 30, 2026 | €134.00 |
| Jul 31, 2026 | €157.68 |
| Aug 31, 2026 | €190.90 |
| Sep 30, 2026 | €185.66 |
| Oct 30, 2026 | €211.25 |
| Nov 11, 2026 | €208.90 |
SAP peers
| Ticker | Company | Market cap (€M) | P/E | Price (€) | 1-day change | 52-week range |
|---|---|---|---|---|---|---|
| SAP.DE | SAP | 241,113 | 30.5x | 208.90 | −0.50% | 127.50220.40 |
| DSY.PA | Dassault Systèmes | 33,408 | 25.7x | 25.42 | +0.63% | 15.8326.39 |
| CRM | Salesforce | 175,694 | 19.5x | 213.48 $ | −0.68% | 146.32269.11 |
| UBER | Uber | 143,035 | 41.2x | 70.05 $ | −1.57% | 64.0495.18 |
| ADP | Automatic Data Processing | 120,575 | 27.1x | 305.44 $ | +1.12% | 188.16310.98 |
| NOW | ServiceNow | 103,387 | 71.7x | 99.61 $ | −3.07% | 81.24175.00 |
Stocks quoted in another currency are shown in their trading currency.
Risks, catalysts and conclusion
Generated with AI · Nov 11, 2026, 14:35Risks
- A slowdown in enterprise software demand could weaken revenue growth across SAP’s broad application portfolio.
- Persistent margin pressure could limit earnings growth even if revenue continues to expand.
- The 30.5x trailing P/E leaves the shares exposed to a valuation reset if growth expectations weaken.
Catalysts
- Continued adoption of SAP S/4HANA could support demand across finance, procurement and supply-chain applications.
- Greater customer use of SAP Business AI could strengthen interest in the company’s wider enterprise software portfolio.
- Delivery of consensus EPS growth of +18.5% in 2027 could support earnings-based valuation.
Conclusion
Analysis written automatically by AI from Yahoo Finance market data on Nov 11, 2026, 14:35.
This content is for information only and is not financial advice or a recommendation to buy or sell securities. Ratings and price targets come from third-party analysts. Investing in the stock market involves the risk of losing capital.
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