Saturday 17 October 2026 Export SAP’s income statement to Excel — free account

SAP SE

SAP SE’s revenue for fiscal 2025 (year ended December 2025) was $41.6 billion, up 12.6% from fiscal 2024. In the quarter to June 2026, revenue grew 12.1%, EPS grew 33.3%, free cash flow grew 15.7% and total debt rose 14.7%, each against the same quarter a year earlier. Dividend growth for three consecutive years, revenue growth for three.

224.29 0.71 −0.32%

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Market cap: $259.7B
P/E: 28.1×
Fwd P/E: 22.7×
Dividend yield: 1.31%
F-score: 8/9
Altman Z: 7.90
Beneish M: −2.54
Dividend safety: 82/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	25.92	29.12	24.83	43.08	25.97	26.59	50.23	25.63	85.49	34.21
Piotroski F-Score Full definition →	7	7	5	4	7	7	5	9	7	8
Altman Z-Score Full definition →	4.93	5.75	4.40	4.30	4.49	4.23	3.71	5.72	7.14	7.90
P/S ratio Full definition →	4.44	4.77	4.07	5.18	4.94	5.02	3.74	5.19	7.76	6.80
P/FCF ratio Full definition →	26.54	28.94	34.68	51.94	20.87	25.34	23.89	28.69	58.37	29.32
Altman Z″-Score (non-manufacturers) Full definition →	4.25	4.52	4.60	3.24	3.90	3.97	3.71	4.99	4.21	5.25
Beneish M-Score Full definition →	(2.53)	(2.46)	(2.50)	(2.34)	(2.77)	(2.52)	(2.83)	(2.59)	(2.54)	(2.54)
P/Operating CF Full definition →	123.53	110.55	115.29	704.73	68.11	108.72	52.31	83.34	(411.10)	241.52
Dividend Safety Score Full definition →	—	—	—	—	—	—	—	—	—	82
P/B ratio Full definition →	3.71	4.38	3.49	4.63	4.51	3.37	2.69	3.73	5.79	5.55
Price to Tangible BV Full definition →	0.00	86.18	52.26	0.00	0.00	21.61	19.54	13.71	22.19	18.17
EV/Sales Full definition →	4.60	4.84	4.18	5.57	5.26	5.16	3.89	5.13	7.77	6.76
EV/EBITDA Full definition →	15.85	18.46	14.61	24.18	17.02	22.34	18.27	22.37	44.66	22.75
EV/Operating CF Full definition →	21.92	22.50	23.99	43.89	20.01	23.08	21.24	25.30	50.86	27.16
EV/FCF Full definition →	27.48	29.36	35.58	55.79	22.26	26.05	24.82	28.37	58.42	29.12
Quick Ratio Full definition →	1.11	1.07	1.47	0.93	1.05	1.12	0.92	1.22	0.94	0.94
Current Ratio Full definition →	1.20	1.17	1.59	1.05	1.17	1.24	1.06	1.40	1.12	1.16
Net Debt/EBITDA Full definition →	0.54	0.26	0.37	1.67	1.07	0.61	0.68	(0.25)	0.04	(0.16)
Debt/Assets Full definition →	18.73%	15.52%	22.68%	26.90%	27.28%	21.88%	19.89%	14.16%	15.44%	11.47%
Debt/Equity Full definition →	0.31	0.26	0.40	0.53	0.53	0.38	0.34	0.22	0.25	0.18
Asset Turnover Full definition →	0.50	0.58	0.52	0.48	0.47	0.44	0.41	0.45	0.48	0.52
Operating CF/Net income Full definition →	1.27	1.26	1.05	1.05	1.40	1.18	2.47	1.03	1.67	1.28
Capex/Depreciation Full definition →	(0.74)	(0.93)	(1.03)	(0.40)	(0.40)	(0.40)	(0.43)	(0.50)	(0.53)	(0.47)
Interest Coverage Full definition →	19.14	17.56	13.65	7.59	9.50	4.91	2.12	4.41	4.52	6.98
ROE Full definition →	14.32%	16.50%	14.88%	10.84%	17.11%	14.93%	5.11%	14.42%	7.00%	16.11%
ROA Full definition →	8.30%	9.88%	8.62%	5.80%	8.76%	8.24%	3.00%	8.86%	4.39%	10.14%
ROIC Full definition →	10.74%	11.24%	11.32%	6.75%	10.63%	6.40%	6.17%	8.69%	6.34%	13.86%
Return on Tangible Assets Full definition →	81.61%	85.71%	42.13%	53.16%	70.79%	59.16%	38.05%	60.16%	45.84%	97.60%
Average Days of Receivables Full definition →	98.01	91.78	93.98	104.76	88.03	83.27	73.73	73.94	72.35	66.21
Research and Development Expense of Revenue Full definition →	13.80%	14.29%	14.67%	15.58%	16.29%	18.64%	19.97%	20.26%	19.06%	18.02%
Selling, General and Administrative Expense of Revenue Full definition →	32.95%	34.09%	31.89%	33.83%	30.95%	35.69%	35.68%	32.66%	30.80%	28.57%
Intangible Assets out of Total Assets Full definition →	0.61	0.57	0.52	0.56	0.54	0.49	0.51	0.46	0.46	0.44
Share Based Compensation of Revenue Full definition →	0.00%	0.00%	0.00%	2.10%	(0.83%)	6.01%	4.64%	3.62%	3.23%	2.39%
Graham Net Nets Full definition →	(0.06)	(0.04)	(0.06)	(0.10)	(0.10)	(0.07)	(0.09)	(0.03)	(0.03)	(0.02)
Graham Number Full definition →	41.74	47.20	50.77	44.98	57.16	70.26	42.39	72.85	52.49	83.59
Earnings Yield Full definition →	3.86%	3.43%	4.03%	2.32%	3.85%	3.76%	1.99%	3.90%	1.17%	2.92%
Free Cash Flow Yield Full definition →	3.77%	3.45%	2.88%	1.93%	4.79%	3.95%	4.19%	3.49%	1.71%	3.41%
Revenue per Share Full definition →	19.43	23.56	24.44	25.85	26.42	27.92	27.80	28.94	31.72	35.71
Operating CF per Share Full definition →	4.08	5.07	4.26	3.28	6.95	6.24	5.09	5.87	4.84	8.88
Capex per Share Full definition →	(0.83)	(1.18)	(1.39)	(0.70)	(0.70)	(0.71)	(0.73)	(0.64)	(0.63)	(0.60)
Free Cash Flow per Share Full definition →	3.25	3.88	2.87	2.58	6.25	5.53	4.35	5.24	4.22	8.28
Cash per Share Full definition →	4.25	5.02	8.98	5.26	6.71	11.69	8.88	10.64	10.43	9.48
Shareholders Equity per Share Full definition →	23.25	25.65	28.56	28.91	28.92	41.63	38.59	40.26	42.51	43.74
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	23.25	25.65	28.56	28.91	28.92	41.63	38.59	40.26	42.51	43.74
Free Cash Flow Full definition →	3,895.00	4,648.00	3,427.26	3,080.00	7,386.11	6,523.61	5,092.05	6,110.67	4,918.14	9,659.89
Working Capital Full definition →	1,993.00	2,068.00	7,250.16	841.12	2,543.90	4,623.56	1,126.30	6,416.95	2,512.63	3,213.18
Capital Expenditures Full definition →	(989.00)	(1,417.00)	(1,654.58)	(835.52)	(831.59)	(838.82)	(857.63)	(742.46)	(730.42)	(699.21)
Net Current Asset Value Full definition →	(6,665.00)	(6,043.00)	(7,078.91)	(15,881.60)	(15,392.49)	(11,360.12)	(11,367.29)	(4,715.58)	(7,480.56)	(5,693.20)
EV/EBIT Full definition →	19.76	23.27	18.10	34.30	21.73	30.85	25.68	27.68	56.91	25.85
Capex to Sales Full definition →	0.04	0.05	0.06	0.03	0.03	0.03	0.03	0.02	0.02	0.02
Price to Operating Income Full definition →	19.09	22.94	17.64	31.93	20.37	30.01	24.72	27.99	56.87	26.03
Other line items
Depreciation/Fixed assets Full definition →	0.49	0.43	0.38	0.34	0.36	0.36	0.38	0.32	0.28	0.29
Cash ROIC Full definition →	9.34%	10.41%	5.85%	5.23%	12.24%	8.02%	7.21%	8.75%	6.64%	13.57%
Accounts Receivable Turnover Full definition →	3.84	4.23	4.00	3.77	3.81	4.38	4.62	5.04	5.22	5.60
Accounts Payable Turnover Full definition →	5.38	6.20	5.62	5.31	5.71	5.78	4.56	4.48	4.90	4.61
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	70.98	59.55	72.69	69.08	56.15	72.58	87.67	75.03	78.58	88.86
Days of Inventory on Hand Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	6,061.40	6,671.50	7,302.76	8,185.24	8,194.07	7,523.12	7,042.65	6,706.28	7,086.22	7,441.12
Average Payables Full definition →	1,292.33	1,367.00	1,568.98	1,762.84	1,578.17	1,627.45	2,065.16	2,095.38	2,041.56	2,451.91
Average Assets Full definition →	46,340.79	48,905.50	55,950.44	64,125.84	67,116.68	75,496.31	80,113.39	74,992.85	77,083.19	79,907.49
Average Common Equity Full definition →	26,863.22	29,278.50	32,404.46	34,313.34	34,354.26	41,656.90	47,136.90	46,063.08	48,274.12	50,282.78

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