Both stocks run through our valuation models. Here is how D2L (DTOL) and SAP (SAP) compare, as of Aug 15, 2026.
As of Aug 15, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: D2L trades at C$9.15 versus a fair value of C$4.56 (-50%), while SAP trades at €180 versus €170 (-6%).
D2L
DTOL.TO · CAD · Information Technology
-50%
upside to fair value
overvalued
PriceC$9.15
Fair ValueC$4.56
Quality62/100
SAP
SAP.XETRA · EUR · Information Technology
-6%
upside to fair value
fairly valued
Price€180
Fair Value€170
Quality81/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
D2LSAP
Valuation
57.4×P/E (TTM)22.1×
1.83×P/S (TTM)4.99×
4.81×P/B4.16×
18.0×EV/EBITDA15.7×
—PEG1.37×
—Dividend yield1.8%
—Dividend per share€2.50
Profitability
3%Net margin20%
5%Operating margin30%
9%Return on equity16%
3%Return on assets9%
Growth
8%Revenue growth (YoY)6%
9.6%Avg. growth/yr (3Y)6.0%
11.9%Avg. growth/yr (5Y)6.1%
Balance & size
—Debt / equity0.09×
$405MMarket cap$186B
healthyGrowth qualityhealthy
SAP leads: 4 to 7 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.
D2Lof which business quality 65 · market factors 22SAPof which business quality 78 · market factors 42
ProfitabilityMargins and returns on capital today
55
62
Quality GrowthAre margins and returns improving?
43
76
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
53
94
Low VolatilityCalm price path (market factor)
31
61
MomentumPrice trend over the last 3–12 months (market factor)
23
39
52W MomentumDistance to the 52-week high (market factor)
8
23
Net IssuanceBuybacks instead of dilution
70
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.
D2L
DCF ModelsC$10.27
Earnings-BasedC$2.72
MultiplesC$4.92
Asset-BasedC$1.01
Growth DCFC$11.44
Economic ProfitC$2.52
Growth EarningsC$3.53
17 of 24 models see the stock below the current price.
SAP
DCF Models€149
Earnings-Based€60.32
Dividend Discount€41.03
Multiples€147
Asset-Based€25.68
Growth DCF€131
Economic Profit€69.81
Growth Earnings€156
22 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.
D2L
Bear C$3.42Fair Value C$4.56Bull C$5.71
C$9.15 = current price (white tick)
SAP
Bear €104Fair Value €170Bull €220
€180 = 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.
D2L · Information Technology
Quality score62 · above median
Fair value upside-50% · below median
SAP · Information Technology
Quality score81 · Top 25%
Fair value upside-6% · above median
Bottom line
As of Aug 15, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: D2L trades at C$9.15 versus a fair value of C$4.56 (-50%), while SAP trades at €180 versus €170 (-6%).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
