SAP.DE Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	220.98B EUR	154.66B EUR	171.51B EUR	243.26B EUR
Enterprise Value	219.8B EUR	154.66B EUR	169.73B EUR	242.52B EUR
Valuation Multiples
Trailing P/E	28.07x	19.84x	23.45x	45.21x
Forward P/E	22.88x	--	--	--
Price to Sales	5.79x	4.05x	4.59x	8.75x
Price to Book	4.94x	3.46x	3.82x	5.46x
EV/Revenue	5.76x	4.05x	4.55x	8.73x
EV/EBITDA	18.69x	12.92x	14.85x	30.03x
Price to FCF (P/FCF)	24.31x	17.72x	21.23x	50.64x
EV/FCF	24.18x	17.72x	21.01x	50.48x
FCF Yield	4.11%	5.64%	4.71%	1.97%