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STOCK COMPARISON

Obzen vs SAP: Fair Value & Quality

Both stocks run through our valuation models. Here is how Obzen (417860) and SAP (SAP) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: Obzen trades at KRW 7,000 versus a fair value of KRW 6,043 (-14%), while SAP trades at €184 versus €172 (-6%).
Obzen
417860.KQ · KRW · Technology
-14%
upside to fair value
overvalued
PriceKRW 7,000
Fair ValueKRW 6,043
Quality42/100
SAP
SAP.XETRA · EUR · Information Technology
-6%
upside to fair value
fairly valued
Price€184
Fair Value€172
Quality82/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

ObzenSAP
Valuation
n/aP/E (TTM)27.6×
n/aP/S (TTM)6.35×
n/aP/B5.42×
n/aEV/EBITDA20.3×
n/aPEG1.63×
−13.7%Fair value upside−6.4%
n/aDividend yield1.4%
n/aDividend per share€2.50
Profitability
2%Operating margin28%
n/aEBIT margin trend (5Y)1.16×
-43%Return on equity18%
1%Return on assets10%
Growth
35%Revenue growth (YoY)9%
-2.5%Avg. growth/yr (3Y)6.0%
n/aAvg. growth/yr (5Y)6.1%
n/aValue creation/yr−1.2%
Balance & size
0.2×Interest coverage (EBIT/interest)7.5×
n/aDebt / equity0.09×
$23MMarket cap$243B
weakGrowth qualityhealthy
Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

SAP leads: 0 to 6 metric wins.

n/a = 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.

Obzenof which business quality 45 · market factors 15 SAPof which business quality 79 · market factors 53
ProfitabilityMargins and returns on capital today
22
62
Quality GrowthAre margins and returns improving?
67
76
CashflowEarnings quality: real cash, not paper profit
63
80
Fin. StrengthBalance sheet, leverage, solvency risk
38
79
InvestmentDisciplined investing over empire-building
33
94
Low VolatilityCalm price path (market factor)
22
60
MomentumPrice trend over the last 3–12 months (market factor)
17
61
52W MomentumDistance to the 52-week high (market factor)
6
33
Net IssuanceShare count: buybacks or dilution?
55
92

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyObzenPrice KRW 7,000SAPPrice €184
DCF Models+65%above the priceKRW 11,533-7%close to the price€171
Earnings-Based-26%below the priceKRW 5,149-66%below the price€63.09
Dividend Discountn/a-76%below the price€45.06
Multiples-14%close to the priceKRW 6,043-19%below the price€149
Asset-Based-78%below the priceKRW 1,535-86%below the price€25.98
Growth DCF+59%above the priceKRW 11,162-19%below the price€149
Economic Profit-26%below the priceKRW 5,149-59%below the price€74.66
Growth Earningsn/a-14%close to the price€158
Minimum-78%below the priceKRW 1,535-86%below the price€25.98
Maximum+65%above the priceKRW 11,533-7%close to the price€171
Median-20%below the priceKRW 5,596-39%below the price€112
Geometric mean-20%below the priceKRW 5,624-53%below the price€87.08

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Obzen: 5 of 13 models see the stock below the current price.

SAP: 22 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Obzen
Price KRW 7,000
Fair Value KRW 6,043
Bear KRW 5,701Bull KRW 6,385
SAP
Price €184
Fair Value €172
Bear €110Bull €222

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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.

Obzen · Technology

Quality score42 · below median
Fair value upside-14% · above median

SAP · Information Technology

Quality score82 · Top 25%
Fair value upside-6% · above median

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: Obzen trades at KRW 7,000 versus a fair value of KRW 6,043 (-14%), while SAP trades at €184 versus €172 (-6%).

SAP has the higher quality score (82/100).

Open SAP live analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.