SAP/€SAP

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About SAP

Founded in Germany in 1972 by former IBM employees, SAP is the world's largest provider of enterprise application software. Known as the leader in enterprise resource planning software, SAP's portfolio also includes software for supply chain management, procurement, travel and expense management, and customer relationship management, among others. The company operates in more than 180 countries and has more than 400,000 customers, approximately 80% of which are small to medium-size enterprises.
Ticker
€SAP
Sector
Software & Cloud Services
Primary listing
XETRA
Employees
112,019
Headquarters
Walldorf, Germany

SAP Metrics

BasicAdvanced
€211B
27.36
€6.68
0.74
€2.50
1.37%

What the Analysts think about SAP

Analyst ratings (Buy, Hold, Sell) for SAP stock.
Analyst projections of the future price of SAP stock.

Bulls say / Bears say

Cloud demand remained strong in the second quarter: cloud revenue rose 24% in constant currency, Cloud ERP Suite revenue rose 27%, and current cloud backlog grew 26% to €22.9 billion. SAP kept its 2026 cloud-revenue target of €25.8–26.2 billion. (SAP, Reuters)
SAP is embedding AI in its core ERP workflows rather than selling it as a standalone chatbot. Joule Work, the Autonomous Suite and the Business AI Platform are designed to connect governed enterprise data with AI agents, creating scope for higher-value upselling across SAP’s installed base. (SAP, SAP)
The business is still generating substantial cash while it invests: first-half free cash flow reached €6.25 billion, up 5%, and SAP returned capital through a €2.6 billion buyback in the first half. That gives it financial room to fund AI development and acquisitions without relying solely on external financing. (StockTitan)
SAP cut its 2026 non-IFRS operating-profit outlook by €100 million after acquisitions of Dremio and Prior Labs. The reduction shows that building its AI proposition is already creating near-term earnings dilution. (Reuters)
ERP migrations remain difficult and costly for customers. Zeiss Group abandoned its planned greenfield move to S/4HANA after years of work, highlighting the execution risk around SAP’s cloud-conversion strategy. (The Register)
SAP expects constant-currency current cloud-backlog growth to decelerate slightly from 2025 levels. That softer forward trajectory, alongside only 12–13% growth guidance for cloud and software revenue, could limit further valuation expansion if AI does not accelerate demand. (SAP)
Data summarised monthly by Lightyear AI. Last updated on 19 Sept 2026.

SAP Financial Performance

Revenues and expenses
Income statement
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
Net income
Profit margin

SAP Earnings Performance

Company profitability
Earnings per share
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
Expected
Surprise

Funds containing SAP

AllEURGBPUSD
Funds
Fund name
Fund size
€SAP weighting
iShares TecDAX€EXS2
€645M19.85%
iShares STOXX Europe 600 Technology€EXV3
€224M15.63%
iShares STOXX Europe 600 Technology€STEC
€26M15.63%
iShares Dax ESG€EXIA
€127M12.54%
iShares Core DAX€EXS1
€8.6B10.83%
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.