Both stocks run through our valuation models. Here is how Papago (3632) and SAP (SAP) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: Papago trades at TWD 8.00 versus a fair value of TWD 0.94 (-88%), while SAP trades at €179 versus €126 (-30%).
Papago
3632.TWO · TWD · Information Technology
-88%
upside to fair value
overvalued
PriceTWD 8.00
Fair ValueTWD 0.94
Quality48/100
SAP
SAP.XETRA · EUR · Information Technology
-30%
upside to fair value
overvalued
Price€179
Fair Value€126
Quality81/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
PapagoSAP
Valuation
—P/E (TTM)22.1×
0.02×P/S (TTM)4.98×
0.05×P/B4.16×
21.2×EV/EBITDA15.7×
—PEG1.37×
—Dividend yield1.8%
—Dividend per share€2.50
Profitability
-4%Net margin20%
8%Operating margin30%
-6%Return on equity16%
-1%Return on assets9%
Growth
13%Revenue growth (YoY)6%
-11.3%Avg. growth/yr (3Y)6.0%
-8.3%Avg. growth/yr (5Y)6.1%
Balance & size
0.48×Debt / equity0.09×
$5MMarket cap$186B
weakGrowth qualityhealthy
SAP leads: 3 to 8 metric wins.
Dash = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
Papagoof which business quality 47 · market factors 36SAPof which business quality 78 · market factors 42
ProfitabilityMargins and returns on capital today
28
62
Quality GrowthAre margins and returns improving?
33
76
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
98
94
Low VolatilityCalm price path (market factor)
78
60
MomentumPrice trend over the last 3–12 months (market factor)
21
42
52W MomentumDistance to the 52-week high (market factor)
15
20
Net IssuanceBuybacks instead of dilution
82
84
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Papago
DCF ModelsTWD 2.88
MultiplesTWD 3.32
Asset-BasedTWD 3.65
Growth DCFTWD 3.47
10 of 10 models see the stock below the current price.
SAP
DCF Models€134
Earnings-Based€60.32
Dividend Discount€41.03
Multiples€116
Asset-Based€25.68
Growth DCF€116
Economic Profit€69.81
Growth Earnings€116
26 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Papago
Bear TWD 0.19Fair Value TWD 0.94Bull TWD 1.79
TWD 8.00 = current price (white tick)
SAP
Bear €89.01Fair Value €126Bull €157
€179 = current price (white tick)
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Papago · Information Technology
Quality score48 · below median
Fair value upside-88% · bottom 25%
SAP · Information Technology
Quality score81 · Top 25%
Fair value upside-30% · above median
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: Papago trades at TWD 8.00 versus a fair value of TWD 0.94 (-88%), while SAP trades at €179 versus €126 (-30%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
