SAP SE
SAP, SAPGF · Services-Prepackaged Software · EDGAR filings ↗
Grade
A87Dominant wide-moat enterprise-software franchise compounding revenue 20%+ with top-tier margins and returns.
Strengths
- Operating margin 26.1% (87.6th pct), net margin 19.9% (82nd pct), ROIC 14.8% (78th pct)
- Revenue +21.6% with net income +163%; ROA 10.4% (82.8th pct), ROE 16.3% on a low-debt balance sheet
Risks
- Current/quick ratio 1.16 (26.8th pct); cloud-transition execution and AI-ERP competitive pressure
- Litigation/IP and data-sovereignty regulatory exposure
Notable findings
- Strong balance sheetStrong balance sheet — $9.7B cash & investments
- Notable holderHeld by 4 notable fund(s): FMR LLC, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
Key metrics
Gross margin
72.9%
Operating margin
26.1%
Net margin
19.9%
Return on equity
16.3%
Return on assets
10.4%
ROIC
14.8%
Revenue growth (QoQ)
21.6%
Net-income growth
162.6%
Debt / equity
0.1×
Interest coverage
19.5×
Current ratio
1.2×
Tangible book value
$18.9B
Cash & investments
$9.7B
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-02-26 | 2025-12-31 | 0001104659-26-020058 ↗ |
| 20-F | 2025-02-27 | 2024-12-31 | 0001104659-25-017815 ↗ |
| 20-F | 2024-02-29 | 2023-12-31 | 0001104659-24-029038 ↗ |
| 20-F | 2023-03-02 | 2022-12-31 | 0001104659-23-027626 ↗ |
| 20-F | 2022-03-03 | 2021-12-31 | 0001104659-22-029675 ↗ |
| 20-F | 2021-03-04 | 2020-12-31 | 0001104659-21-031847 ↗ |
| 20-F | 2020-02-27 | 2019-12-31 | 0001104659-20-025681 ↗ |
| 20-F | 2019-02-28 | 2018-12-31 | 0001104659-19-011304 ↗ |
| 20-F | 2018-02-28 | 2017-12-31 | 0001104659-18-013050 ↗ |
| 20-F | 2017-02-28 | 2016-12-31 | 0001193125-17-060157 ↗ |
| 20-F | 2016-03-29 | 2015-12-31 | 0001193125-16-520379 ↗ |
| 20-F | 2015-03-20 | 2014-12-31 | 0001193125-15-099258 ↗ |