Question 1

What is SAP's EV/EBITDA ratio?

Accepted Answer

SAP (SAP) EV/EBITDA ratio is 14.3× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for SAP?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For SAP specifically, the relevant sector benchmark is the current sector median of 19.5×.

Question 5

Is SAP's EV/EBITDA ratio high or low?

Accepted Answer

SAP's EV/EBITDA ratio of 14.3× is below its own 5-year average of 22.3× and below the sector median of 19.5×. That places the current reading at the 21th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is SAP's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, SAP (SAP) EV/EBITDA ratio has ranged from a low of 7.7× in 2011 to a high of 48.5× in 2025. The 5-year average is 22.3× and the 5-year median is 20.8×.

Question 7

What was SAP's EV/EBITDA ratio in 2025?

Accepted Answer

SAP (SAP) EV/EBITDA ratio at the end of 2025 was 20.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does SAP's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$283.15B	$13.65B	20.6×	-16.8×	Dec 31, 2025
2024	$286.83B	$7.65B	37.4×	+16.5×	Dec 31, 2024
2023	$179.99B	$8.47B	20.9×	+2.2×	Dec 31, 2023
2022	$120.23B	$6.62B	18.7×	+2.6×	Dec 31, 2022
2021	$165.45B	$10.53B	16.1×	+1.5×	Dec 31, 2021
2020	$154.04B	$11.24B	14.6×	-7.0×	Dec 31, 2020
2019	$160.09B	$8.00B	21.6×	+7.5×	Dec 31, 2019
2018	$118.62B	$8.60B	14.1×	-4.0×	Dec 31, 2018
2017	$134.19B	$7.52B	18.1×	+2.9×	Dec 31, 2017
2016	$103.50B	$7.06B	15.2×	-1.3×	Dec 31, 2016
2015	$94.79B	$6.12B	16.5×	+3.7×	Dec 31, 2015
2014	$83.21B	$7.25B	12.8×	-1.7×	Dec 31, 2014
2013	$104.22B	$7.33B	14.5×	-1.4×	Dec 31, 2013
2012	$95.73B	$6.25B	15.9×	+8.2×	Dec 31, 2012
2011	$63.01B	$7.70B	7.7×	-6.3×	Dec 31, 2011
2010	$60.13B	$4.04B	14.0×	+0.5×	Dec 31, 2010
2009	$55.66B	$3.93B	13.6×	+4.4×	Dec 31, 2009
2008	$42.91B	$4.85B	9.1×	-4.8×	Dec 31, 2008
2007	$61.04B	$4.16B	13.9×	-3.4×	Dec 31, 2007
2006	$64.34B	$3.47B	17.3×	+0.7×	Dec 31, 2006
2005	$55.63B	$3.12B	16.6×	-1.4×	Dec 31, 2005
2004	$54.72B	$2.80B	18.0×	-4.2×	Dec 31, 2004
2003	$50.74B	$2.21B	22.2×	—	Dec 31, 2003
2002	$24.28B	−$5.81B	—	—	Dec 31, 2002
2001	$39.70B	$1.27B	30.6×	—	Dec 31, 2001


Zebra Technologies (ZBRA)	12.6×
Micron Technology (MU)	12.5×
NXP Semiconductors (NXPI)	12.3×
Block (XYZ)	11.9×
Qorvo (QRVO)	11.3×
Broadridge Financial Solutions (BR)	11.1×
Adobe (ADBE)	10.9×
Super Micro Computer (SMCI)	10.8×
CDW (CDW)	10.8×
QUALCOMM (QCOM)	10.6×
Accenture (ACN)	10.5×
NetApp (NTAP)	10.5×
Amkor Technology (AMKR)	10.3×
GoDaddy (GDDY)	10.2×
Block (SQ)	10.0×
EPAM Systems (EPAM)	9.6×
Science Applications International (SAIC)	9.4×
Skyworks Solutions (SWKS)	9.2×
Corpay (CPAY)	8.5×
Paycom Software (PAYC)	8.2×
Gen Digital (GEN)	7.4×
Cognizant (CTSH)	7.2×
Fidelity National Information Services (FIS)	7.0×
Fiserv (FISV)	6.9×
HP (HPQ)	6.4×

EV/EBITDA for SAP (SAP)

EV/EBITDA daily chart for SAP (SAP)

Historical EV/EBITDA for SAP (SAP) from 2001 to 2025

About EV/EBITDA at SAP (SAP)

SAP EV/EBITDA by Year

SAP EV/EBITDA 2025: 20.6×

SAP EV/EBITDA 2024: 37.4×

SAP EV/EBITDA 2023: 20.9×

SAP EV/EBITDA 2022: 18.7×

SAP EV/EBITDA 2021: 16.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

SAP (SAP) Key Financials

EV/EBITDA daily chart for SAP (SAP)

Historical EV/EBITDA for SAP (SAP) from 2001 to 2025

About EV/EBITDA at SAP (SAP)

SAP EV/EBITDA by Year

SAP EV/EBITDA 2025: 20.6×

SAP EV/EBITDA 2024: 37.4×

SAP EV/EBITDA 2023: 20.9×

SAP EV/EBITDA 2022: 18.7×

SAP EV/EBITDA 2021: 16.1×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is SAP's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for SAP?

+Is SAP's EV/EBITDA ratio high or low?

+What is SAP's historical EV/EBITDA ratio range?

+What was SAP's EV/EBITDA ratio in 2025?

+Why does SAP's EV/EBITDA ratio change over time?

SAP (SAP) Key Financials