Question 1

What is SAP's P/S ratio?

Accepted Answer

SAP (SAP) P/S ratio is 4.0× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for SAP?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For SAP specifically, the relevant sector benchmark is the current sector median of 5.8×.

Question 5

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

Accepted Answer

SAP's P/S ratio of 4.0× is below its own 5-year average of 5.7× and below the sector median of 5.8×. That places the current reading at the 16th 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/S ratio range?

Accepted Answer

In the available daily series, SAP (SAP) P/S ratio has ranged from a low of 2.2× in 2002 to a high of 9.7× in 2025. The 5-year average is 5.7× and the 5-year median is 5.1×.

Question 7

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

Accepted Answer

SAP (SAP) P/S ratio at the end of 2025 was 6.8×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$41.6B	6.8×	-1.0×	Dec 31, 2025
2024	$287B	$37B	7.8×	+2.4×	Dec 31, 2024
2023	$180B	$33.7B	5.3×	+1.5×	Dec 31, 2023
2022	$120B	$31.4B	3.8×	-1.2×	Dec 31, 2022
2021	$165B	$32.9B	5.0×	+0.1×	Dec 31, 2021
2020	$154B	$31.2B	4.9×	-0.3×	Dec 31, 2020
2019	$160B	$30.8B	5.2×	+1.1×	Dec 31, 2019
2018	$119B	$29.1B	4.1×	-1.0×	Dec 31, 2018
2017	$134B	$26.6B	5.0×	+0.8×	Dec 31, 2017
2016	$103B	$24.4B	4.2×	+0.1×	Dec 31, 2016
2015	$94.8B	$23B	4.1×	+0.5×	Dec 31, 2015
2014	$83.2B	$23.2B	3.6×	-1.1×	Dec 31, 2014
2013	$104B	$22.4B	4.7×	+0.1×	Dec 31, 2013
2012	$95.7B	$20.9B	4.6×	+1.4×	Dec 31, 2012
2011	$63B	$19.8B	3.2×	-0.4×	Dec 31, 2011
2010	$60.1B	$16.5B	3.6×	-0.1×	Dec 31, 2010
2009	$55.7B	$14.9B	3.7×	+1.2×	Dec 31, 2009
2008	$42.9B	$16.9B	2.5×	-1.8×	Dec 31, 2008
2007	$61B	$14.1B	4.3×	-1.1×	Dec 31, 2007
2006	$64.3B	$11.8B	5.4×	+0.2×	Dec 31, 2006
2005	$55.6B	$10.5B	5.3×	-0.6×	Dec 31, 2005
2004	$54.7B	$9.37B	5.8×	-0.5×	Dec 31, 2004
2003	$50.7B	$7.97B	6.4×	+2.9×	Dec 31, 2003
2002	$24.3B	$7.05B	3.4×	—	Dec 31, 2002


GoDaddy (GDDY)	2.2×
Fidelity National Information Services (FIS)	2.1×
Skyworks Solutions (SWKS)	2.1×
Qorvo (QRVO)	1.9×
Zebra Technologies (ZBRA)	1.8×
Gartner (IT)	1.7×
Accenture (ACN)	1.6×
Amkor Technology (AMKR)	1.6×
Block (XYZ)	1.5×
Fiserv (FISV)	1.4×
Cognizant (CTSH)	1.4×
EPAM Systems (EPAM)	1.3×
Optical Cable (OCC)	1.2×
Leidos Holdings (LDOS)	1.2×
Jabil (JBL)	1.1×
Dell Technologies (DELL)	1.0×
Sunrun (RUN)	1.0×
Hewlett Packard Enterprise (HPE)	1.0×
Flex (FLEX)	0.9×
Lyft (LYFT)	0.8×
CDW (CDW)	0.7×
Science Applications International (SAIC)	0.6×
Super Micro Computer (SMCI)	0.4×
HP (HPQ)	0.3×
IBM (IBM)	0.0×

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

P/S Ratio daily chart for SAP (SAP)

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

About P/S Ratio at SAP (SAP)

SAP P/S Ratio by Year

SAP P/S Ratio 2025: 6.8×

SAP P/S Ratio 2024: 7.8×

SAP P/S Ratio 2023: 5.3×

SAP P/S Ratio 2022: 3.8×

SAP P/S Ratio 2021: 5.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

SAP (SAP) Key Financials