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SAP SE ADR SAP

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Stock XNYS Rating as of
$213.45 +2.64 (1.25%)
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As of Delayed Price Closed
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Company Report

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SAP Earnings: Cloud Revenue Growth and Margins Robust; Raising Fair Value to EUR 141 From EUR 132

Julie Bhusal Sharma

SAP reported a solid second quarter, with cloud revenue continuing to increase forcefully. Despite management’s outlook remaining unchanged, we are increasing our fair value estimate to EUR 141 per share from EUR 132 for this narrow-moat name. We have moderately raised our midcycle operating margin assumptions based on a more precise roadmap for operational efficiencies. Despite our fair value adjustments, we view the stock as overvalued—as we believe SAP’s ERP market share will continue to decline due to fiercer competition from the likes of Workday.

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Price vs Fair Value

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SAP is trading at a 487% premium.
Price
$213.45
Fair Value
$444.00
Uncertainty
Medium
1-Star Price
$291.20
5-Star Price
$411.40
Economic Moat
Kfmyg
Capital Allocation
Sjls

Bulls Say, Bears Say

Bulls

SAP should be able to migrate the majority of its on-premises ERP customers to S/4HANA while continuing to add hefty net new customers to the platform.

Bears

SAP’s S/4HANA mandated transition could cause even greater customer churn as customers are forced to reassess their ERP and database providers.

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News

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Trading Information

Previous Close Price
$210.81
Day Range
$210.91–214.05
52-Week Range
$126.75–214.94
Bid/Ask
$185.00 / $235.00
Market Cap
$248.99 Bil
Volume/Avg
688,337 / 783,558

Key Statistics

Price/Earnings (Normalized)
29.45
Price/Sales
7.12
Dividend Yield (Trailing)
1.12%
Dividend Yield (Forward)
1.12%
Total Yield
1.96%

Company Profile

Founded in 1972 by former IBM employees, SAP provides database technology and enterprise resource planning software to enterprises around the world. Across more than 180 countries, the company serves 440,000 customers, approximately 80% of which are small- to medium-size enterprises.
Sector
Technology
Industry
Software - Application
Stock Style Box
Large Growth
Total Number of Employees
107,602
Website
https://www.sap.com

Competitors

Valuation

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Metric
SAP
ORCL
WDAY
Price/Earnings (Normalized)
 29.4524.9636.46
Price/Book Value
 5.5844.007.43
Price/Sales
 7.127.418.08
Price/Cash Flow
 51.9020.4826.23
Price/Earnings
SAP
ORCL
WDAY

Financial Strength

Metric
SAP
ORCL
WDAY
Quick Ratio
 0.980.591.88
Current Ratio
 1.120.722.00
Interest Coverage
 4.864.212.23
Quick Ratio
SAP
ORCL
WDAY

Profitability

Metric
SAP
ORCL
WDAY
Return on Assets (Normalized)
 7.96%11.49%17.96%
Return on Equity (Normalized)
 13.06%363.05%37.52%
Return on Invested Capital (Normalized)
 10.63%19.73%23.89%
Return on Assets
SAP
ORCL
WDAY
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Software - Application Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Salesforce Inc
CRM
JlhwjvlbFjb$254.6 Bil
 Intuit Inc
INTU
SmgdywxjrXfh$177.1 Bil
 ServiceNow Inc
NOW
TmyzytglsBlvl$170.4 Bil
 Uber Technologies Inc
UBER
NkdwrsyhYdwrzd$134.6 Bil
 Shopify Inc Registered Shs -A- Subord Vtg
SHOP
SdhldklqXkm$77.2 Bil
 Cadence Design Systems Inc
CDNS
FfjbzwmhZrqbb$70.9 Bil
 Workday Inc Class A
WDAY
VhqfptwcrgQjhvg$60.7 Bil
 Roper Technologies Inc
ROP
XdvyywgtpVcc$58.7 Bil
 Autodesk Inc
ADSK
McgftycknSrpj$51.9 Bil

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