Question 1

What is SAP's P/E ratio?

Accepted Answer

SAP (SAP) P/E ratio is 20.5× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. 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 P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for SAP?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For SAP specifically, the relevant sector benchmark is the current sector median of 29.4×.

Question 5

Is SAP's P/E ratio high or low?

Accepted Answer

SAP's P/E ratio of 20.5× is below its own 5-year average of 41.9× and below the sector median of 29.4×. That places the current reading at the 8th 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 P/E ratio range?

Accepted Answer

In the available daily series, SAP (SAP) P/E ratio has ranged from a low of 13.2× in 2011 to a high of 199.2× in 2002. The 5-year average is 41.9× and the 5-year median is 33.3×.

Question 7

What was SAP's P/E ratio in 2025?

Accepted Answer

SAP (SAP) P/E ratio at the end of 2025 was 35.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does SAP's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). 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	$283B	$8.1B	35.0×	-50.1×	Dec 31, 2025
2024	$287B	$3.37B	85.1×	+58.1×	Dec 31, 2024
2023	$180B	$6.68B	26.9×	-17.1×	Dec 31, 2023
2022	$120B	$2.73B	44.1×	+17.4×	Dec 31, 2022
2021	$165B	$6.21B	26.7×	+0.7×	Dec 31, 2021
2020	$154B	$5.95B	25.9×	-17.5×	Dec 31, 2020
2019	$160B	$3.69B	43.4×	+18.6×	Dec 31, 2019
2018	$119B	$4.78B	24.8×	-4.2×	Dec 31, 2018
2017	$134B	$4.62B	29.0×	+3.3×	Dec 31, 2017
2016	$103B	$4.02B	25.8×	-2.2×	Dec 31, 2016
2015	$94.8B	$3.39B	28.0×	+8.6×	Dec 31, 2015
2014	$83.2B	$4.3B	19.4×	-4.1×	Dec 31, 2014
2013	$104B	$4.44B	23.5×	-2.9×	Dec 31, 2013
2012	$95.7B	$3.63B	26.4×	+13.2×	Dec 31, 2012
2011	$63B	$4.78B	13.2×	-11.9×	Dec 31, 2011
2010	$60.1B	$2.4B	25.1×	+2.7×	Dec 31, 2010
2009	$55.7B	$2.49B	22.4×	+6.2×	Dec 31, 2009
2008	$42.9B	$2.65B	16.2×	-6.7×	Dec 31, 2008
2007	$61B	$2.67B	22.9×	-4.5×	Dec 31, 2007
2006	$64.3B	$2.35B	27.4×	-2.9×	Dec 31, 2006
2005	$55.6B	$1.84B	30.3×	-3.0×	Dec 31, 2005
2004	$54.7B	$1.64B	33.3×	-7.9×	Dec 31, 2004
2003	$50.7B	$1.23B	41.2×	-5.7×	Dec 31, 2003
2002	$24.3B	$517M	47.0×	—	Dec 31, 2002


Dell Technologies (DELL)	16.2×
Western Digital (WDC)	15.7×
Accenture (ACN)	15.4×
Gartner (IT)	14.9×
CDW (CDW)	14.5×
Adobe (ADBE)	14.4×
Leidos Holdings (LDOS)	14.1×
Zoom Communications (ZM)	13.8×
QUALCOMM (QCOM)	13.7×
PTC (PTC)	13.5×
Paycom Software (PAYC)	13.2×
Elastic N.V. (ESTC)	13.2×
Cognizant (CTSH)	13.1×
First Solar (FSLR)	12.7×
GoDaddy (GDDY)	12.7×
Gen Digital (GEN)	11.7×
Duolingo (DUOL)	10.9×
Super Micro Computer (SMCI)	10.9×
Science Applications International (SAIC)	10.3×
Fiserv (FISV)	9.3×
Fidelity National Information Services (FIS)	9.0×
HP (HPQ)	7.5×
Sunrun (RUN)	5.6×
Lyft (LYFT)	1.8×
IBM (IBM)	0.0×

P/E Ratio for SAP (SAP) 2002-2026

P/E Ratio daily chart for SAP (SAP)

Historical P/E Ratio for SAP (SAP) from 2002 to 2025

About P/E Ratio at SAP (SAP)

SAP P/E Ratio by Year

SAP P/E Ratio 2025: 35.0×

SAP P/E Ratio 2024: 85.1×

SAP P/E Ratio 2023: 26.9×

SAP P/E Ratio 2022: 44.1×

SAP P/E Ratio 2021: 26.7×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

SAP (SAP) Key Financials