SAP SE (ETR:SAP)
SAP SE, together with its subsidiaries, provides enterprise application and business solutions worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR, time, payroll, talent and employee experience management, and analytics and planning; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management. The company also provides SAP customer experience solutions; SAP Business Technology platform that enables customers and partners to build, integrate, and automate applications; and SAP Business Network, a business-to-business collaboration platform that helps digitalize key business processes across the supply chain and enables communication between trading partners. In addition, it offers SAP Signavio to help customers to discover, analyze, and understand their business process operations; industry solutions that provides customers and partners with industry-specific solutions; and SAP LeanIX to visualize their as-is enterprise architecture, assess interdependencies and the potential impact of IT modernization, and manage the transition toward the target landscape with established practices and a detailed roadmap. Further, the company provides WalkMe to execute workflows across various number of applications; SAP Enable Now, which offers e-learning content embedded in SAP workflows; Taulia solutions for working capital management to help businesses create and deliver the right cash flow strategy, and the flexibility to adjust it to meet liquidity challenges; and sustainability solutions and services. Additionally, it provides services and support solutions. SAP SE was founded in 1972 and is headquartered in Walldorf, Germany.
Precio Actual
Capitalización
Desviación
Y/Y Growth
EBIT Margin
ROIC
PEG Ratio
ROE
3Y EPS Growth
Net Debt / EBITDA
Proyecciones CAGR
Proyecciones de tasa de crecimiento anual compuesta basadas en diferentes modelos de valoración. CAGR EV/FCF es la métrica principal.
Múltiplos de Valoración
Múltiplos de valoración utilizados para las estimaciones de CAGR y precios objetivo.
Gráfico de Evolución del Precio
Precios Objetivo FCF
Precios futuros estimados de la acción basados en proyecciones de flujo de caja libre.
Calculadora de Sensibilidad
Compara el CAGR de tu valoración con el que resultaría al aplicar diferentes múltiplos (LTM y Fair P/E).
Reverse DCF
Rentabilidad mínima que exiges a tu inversión. Refleja el coste de oportunidad y el riesgo.
Múltiplo EV/FCF al que se valorará la empresa al final del periodo de proyección.
Notas
Rendimiento Histórico vs. Índices
Rendimiento anual (YTD) de la acción comparado con índices y materias primas de referencia.
| Año | Rendimiento ETR:SAP | Rendimiento Bitcoin | Rendimiento vs. Bitcoin | Rendimiento Gold | Rendimiento vs. Gold | Rendimiento Bono USA 7-10y | Rendimiento vs. Bono USA 7-10y | Rendimiento Bono USA 1-3y | Rendimiento vs. Bono USA 1-3y | Rendimiento Bono USA 20+y | Rendimiento vs. Bono USA 20+y | Rendimiento Dow Jones | Rendimiento vs. Dow Jones | Rendimiento S&P 500 | Rendimiento vs. S&P 500 | Rendimiento NASDAQ 100 | Rendimiento vs. NASDAQ 100 | Rendimiento MSCI World | Rendimiento vs. MSCI World | Rendimiento Russell 2000 | Rendimiento vs. Russell 2000 | Rendimiento STOXX Europe 600 | Rendimiento vs. STOXX Europe 600 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2026 YTD en Vivo | -15.35% | -23.32% | +7.98% | 21.46% | -36.81% | 1.99% | -17.33% | 0.39% | -15.73% | 4.35% | -19.70% | 1.23% | -16.58% | 0.30% | -15.64% | -2.44% | -12.90% | 2.32% | -17.67% | 4.95% | -20.29% | 6.33% | -21.67% |
2025 | -12.66% | 110.77% | -123.43% | 26.96% | -39.62% | -3.73% | -8.93% | 0.05% | -12.71% | -11.17% | -1.49% | 12.80% | -25.46% | 24.01% | -36.67% | 30.78% | -43.44% | 17.88% | -30.54% | 10.80% | -23.46% | 5.50% | -18.16% |
2024 | 72.05% | 153.66% | -81.60% | 11.76% | +60.30% | -0.15% | +72.20% | 0.98% | +71.07% | -2.54% | +74.60% | 13.74% | +58.31% | 24.73% | +47.33% | 44.52% | +27.53% | 21.92% | +50.13% | 15.78% | +56.27% | 11.67% | +60.38% |
2023 | 43.17% | -65.23% | +108.40% | 0.78% | +42.40% | -15.93% | +59.10% | -5.00% | +48.17% | -31.00% | +74.18% | -9.40% | +52.57% | -19.95% | +63.13% | -33.89% | +77.07% | -19.70% | +62.87% | -22.50% | +65.67% | -13.29% | +56.46% |
2022 | -22.42% | 60.33% | -82.75% | -6.24% | -16.18% | -4.15% | -18.27% | -0.98% | -21.43% | -5.94% | -16.48% | 20.23% | -42.65% | 28.79% | -51.21% | 23.20% | -45.62% | 21.22% | -43.64% | 15.39% | -37.80% | 21.66% | -44.08% |
2021 | 18.59% | 301.93% | -283.33% | 23.90% | -5.31% | 8.33% | +10.26% | 2.02% | +16.57% | 15.12% | +3.47% | 6.02% | +12.57% | 15.29% | +3.30% | 41.75% | -23.16% | 12.94% | +5.65% | 18.48% | +0.11% | -4.64% | +23.23% |
2020 | -12.11% | 88.85% | -100.97% | 17.78% | -29.89% | 5.55% | -17.67% | 1.20% | -13.31% | 10.91% | -23.03% | 21.91% | -34.03% | 28.34% | -40.45% | 34.60% | -46.72% | 25.23% | -37.34% | 23.05% | -35.17% | 23.42% | -35.53% |
2019 | 38.28% | -71.79% | +110.07% | -3.12% | +41.40% | -0.97% | +39.25% | -0.24% | +38.52% | -3.17% | +41.45% | -6.03% | +44.31% | -7.01% | +45.29% | -5.30% | +43.59% | -11.16% | +49.45% | -13.00% | +51.28% | -13.42% | +51.70% |
2018 | -6.33% | 1,184.56% | -1,190.89% | 11.93% | -18.26% | 0.76% | -7.09% | -0.63% | -5.70% | 6.03% | -12.36% | 24.33% | -30.66% | 18.42% | -24.74% | 27.16% | -33.48% | 19.45% | -25.78% | 12.45% | -18.78% | 7.16% | -13.48% |
2017 | 11.86% | 1,184.56% | -1,172.70% | 11.93% | -0.07% | -1.15% | +13.01% | -0.02% | +11.89% | -1.91% | +13.77% | 24.33% | -12.47% | 18.42% | -6.55% | 27.16% | -15.29% | 19.45% | -7.59% | 12.45% | -0.59% | 7.16% | +4.70% |
| Media | 11.51% | 292.43% | -280.92% | 11.71% | -0.20% | -0.94% | +12.45% | -0.22% | +11.73% | -1.93% | +13.44% | 10.92% | +0.59% | 13.13% | -1.62% | 18.75% | -7.24% | 10.96% | +0.55% | 7.79% | +3.72% | 5.16% | +6.35% |
Historial de Valoración
Historial de cambios significativos en los factores de valoración y precios objetivo a lo largo del tiempo. Los valores resaltados indican un cambio respecto a la valoración anterior.
Fecha de Valoración | Y/Y Growth | EBIT Margin | Net Debt/EBITDA | P/E | EV/FCF | EV/EBITDA | EV/EBIT | Objetivo 2026 | Objetivo 2027 | Objetivo 2028 | Objetivo 2029 | Objetivo 2030 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1/31/2026 | 10.9% | 30% | -0.1x | 20x(29x) | 20x | 12x | 14x | €158.81 | €184.68 | €202.23 | €223.67 | €247.38 |
| 10/18/2025 | 11.8% | 29.6% | -0.2x | 29x(32x) | 29x | 15x | 17x | €188.55 | €221.57 | €260.48 | €294.35 | €332.61 |
Historial de Dividendos
Evolución de los dividendos por acción pagados durante los últimos 9 años.
| Año | Dividendo por Acción | Crecimiento |
|---|---|---|
| 2025 | €2.35 | +6.82% |
| 2024 | €2.20 | +7.32% |
| 2023 | €2.05 | +5.13% |
| 2022 | €1.95 | +5.41% |
| 2021 | €1.85 | +17.09% |
| 2020 | €1.58 | +5.33% |
| 2019 | €1.50 | +7.14% |
| 2018 | €1.40 | +12.00% |
| 2017 | €1.25 | - |
Análisis de Outperformance
Rendimiento histórico vs índices principales y métricas de consistencia
Outperformance Promedio vs Índices
Rendimiento promedio comparado con los principales índices del mercado
Evolución del Rendimiento Año a Año
Rendimiento histórico con marcadores de mejores y peores años
Consistencia de Rendimiento
Porcentaje de años con rendimientos positivos
ETR:SAP shows moderate consistency with positive returns in 50% of years.