Start with its own history
At 29.64×, SAP is 20.5% below its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · SAPSoftware - ApplicationUpdated Nov 2, 2026
SAP SE P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
29.64×
20.5% belowthe 10-year annual average
Share price235.02
÷Earnings per share7.93
Price and EPS in quote currency. Calculation details
Investors are paying 29.64 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 37.26×
3-year average49.34×3 positive annual observations
5-year average44.92×5 positive annual observations
10-year average37.26×10 positive annual observations
Peer median · TTM21.25×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 33.18× | -62.4% |
| Dec 31, 2024 | 88.17× | +230.6% |
| Dec 31, 2023 | 26.67× | -45.8% |
| Dec 31, 2022 | 49.18× | +79.5% |
| Dec 31, 2021 | 27.39× | +11.1% |
| Dec 31, 2020 | 24.65× | -42.6% |
| Dec 31, 2019 | 42.97× | +68.9% |
| Dec 31, 2018 | 25.44× | -7.9% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 27.62× | +1.1% |
| Dec 31, 2016 | 27.33× | -4.7% |
| Dec 31, 2015 | 28.66× | +34.8% |
| Dec 31, 2014 | 21.26× | -4.8% |
| Dec 31, 2013 | 22.33× | -14.7% |
| Dec 31, 2012 | 26.19× | +85.3% |
| Dec 31, 2011 | 14.13× | -43.2% |
| Dec 31, 2010 | 24.90× | +13.2% |
| Dec 31, 2009 | 22.00× | +35.1% |
| Dec 31, 2008 | 16.28× | -25.8% |
| Dec 31, 2007 | 21.94× | -17.3% |
| Dec 31, 2006 | 26.52× | -16.2% |
| Dec 31, 2005 | 31.64× | +1.1% |
| Dec 31, 2004 | 31.29× | -18.2% |
| Dec 31, 2003 | 38.26× | -16.9% |
| Dec 31, 2002 | 46.05× | -42.1% |
| Dec 31, 2001 | 79.52× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How SAP compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 SAP This stockSAP SE | 29.64× |
 ORCLOracle Corporation | 20.17× |
 WDAYWorkday, Inc. | 39.96× |
 CRMSalesforce, Inc. | 20.83× |
 IBMInternational Business Machines Corporation | 21.66× |
 ADPAutomatic Data Processing, Inc. | 25.98× |
 MSFTMicrosoft Corporation | 27.18× |
 ACNAccenture plc | 18.90× |
 CGEMYCapgemini SE | 15.61× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does SAP’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 21.25×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take SAP into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("SAP", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 235.02 ÷ EPS 7.93 = 29.64×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 2, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
SAP P/E ratio: common questions
The essentials behind the numbers.
SAP SE's current P/E is 29.64× based on the quote data last updated Nov 2, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.