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STOCK COMPARISON

APEX International Financial Engineering Res & Tech Co vs SAP: Fair Value & Quality

Both stocks run through our valuation models. Here is how APEX International Financial Engineering Res & Tech Co (5210) and SAP (SAP) compare, as of Sep 6, 2026.

As of Sep 6, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: APEX International Financial Engineering Res & Tech Co trades at TWD 28.95 versus a fair value of TWD 8.18 (-72%), while SAP trades at €186 versus €170 (-9%).
APEX International Financial Engineering Res & Tech Co
5210.TWO · TWD · Information Technology
-72%
upside to fair value
overvalued
PriceTWD 28.95
Fair ValueTWD 8.18
Quality52/100
SAP
SAP.XETRA · EUR · Information Technology
-9%
upside to fair value
fairly valued
Price€186
Fair Value€170
Quality81/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

APEX International Financial Engineering Res & Tech CoSAP
Valuation
39.7×P/E (TTM)22.1×
8.93×P/S (TTM)5.01×
3.08×P/B4.18×
45.2×EV/EBITDA15.8×
PEG1.37×
−71.7%Fair value upside−8.7%
Dividend yield1.3%
Dividend per share€2.50
Profitability
7%Operating margin30%
EBIT margin trend (5Y)1.16×
10%Return on equity16%
3%Return on assets9%
Growth
-3%Revenue growth (YoY)6%
-3.5%Avg. growth/yr (3Y)6.0%
4.3%Avg. growth/yr (5Y)6.1%
Value creation/yr+8.8%
Balance & size
39.1×Interest coverage (EBIT/interest)7.5×
0.02×Debt / equity0.09×
$78MMarket cap$187B
weakGrowth qualityhealthy

SAP leads: 3 to 9 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.

APEX International Financial Engineering Res & Tech Coof which business quality 51 · market factors 60 SAPof which business quality 78 · market factors 45
ProfitabilityMargins and returns on capital today
46
62
Quality GrowthAre margins and returns improving?
60
76
CashflowEarnings quality: real cash, not paper profit
10
80
Fin. StrengthBalance sheet, leverage, solvency risk
94
79
InvestmentDisciplined investing over empire-building
63
94
Low VolatilityCalm price path (market factor)
77
61
MomentumPrice trend over the last 3–12 months (market factor)
53
43
52W MomentumDistance to the 52-week high (market factor)
53
28
Net IssuanceBuybacks instead of dilution
40
84

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 familyAPEX International Financial Engineering Res & Tech CoPrice TWD 28.95SAPPrice €186
DCF Models-55%below the priceTWD 12.89-20%below the price€149
Earnings-Based-78%below the priceTWD 6.33-68%below the price€60.32
Dividend Discountn/a-78%below the price€41.03
Multiples-57%below the priceTWD 12.42-21%below the price€147
Asset-Based-77%below the priceTWD 6.53-86%below the price€25.68
Growth DCFn/a-30%below the price€131
Economic Profit-74%below the priceTWD 7.39-62%below the price€69.81
Growth Earnings-47%below the priceTWD 15.33-16%below the price€156
Minimum-78%below the priceTWD 6.33-86%below the price€25.68
Maximum-47%below the priceTWD 15.33-16%below the price€156
Median-66%below the priceTWD 9.91-46%below the price€100
Geometric mean-67%below the priceTWD 9.53-56%below the price€81.68

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%.

APEX International Financial Engineering Res & Tech Co: 13 of 13 models see the stock below the current price.

SAP: 24 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.

APEX International Financial Engineering Res & Tech Co
Bear TWD 7.00Fair Value TWD 8.18Bull TWD 10.36
TWD 28.95 = current price (white tick)
SAP
Bear €104Fair Value €170Bull €220
€186 = 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.

APEX International Financial Engineering Res & Tech Co · Information Technology

Quality score52 · below median
Fair value upside-72% · bottom 25%

SAP · Information Technology

Quality score81 · Top 25%
Fair value upside-9% · above median

Bottom line

As of Sep 6, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: APEX International Financial Engineering Res & Tech Co trades at TWD 28.95 versus a fair value of TWD 8.18 (-72%), while SAP trades at €186 versus €170 (-9%).

SAP has the higher quality score (81/100).

See the full analysis →

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