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STOCK COMPARISON

eMudhra vs SAP: Fair Value & Quality

Both stocks run through our valuation models. Here is how eMudhra (EMUDHRA) and SAP (SAP) compare, as of Sep 27, 2026.

As of Sep 27, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: eMudhra trades at ₹653 versus a fair value of ₹514 (−21.3%), while SAP trades at €186 versus €172 (−7.2%).
eMudhra
EMUDHRA.NSE · INR · Information Technology
−21.3%
upside to fair value
overvalued
Price₹653
Fair Value₹514
Quality47/100
SAP
SAP.XETRA · EUR · Information Technology
−7.2%
upside to fair value
fairly valued
Price€186
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

eMudhraSAP
Valuation
50.2×P/E (TTM)27.8×
n/aForward P/E (FY2026)26.0×
n/aMedian P/E at FY-end (10 FY, ex one-offs where documented)31.0×
7.71×P/S (TTM)6.43×
5.94×P/B5.48×
33.9×EV/EBITDA20.5×
n/aPEG1.63×
−21.3%Fair value upside−7.2%
0.2%Dividend yield1.3%
₹1.25Dividend per share€2.50
Profitability
17.4%Operating margin27.6%
0.76×EBIT margin trend (5Y)1.16×
13.3%Return on equity18.3%
7.5%Return on assets9.5%
Growth
31.7%Revenue growth (YoY)9.4%
41.3%Avg. growth/yr (3Y)6.0%
39.8%Avg. growth/yr (5Y)6.1%
+28.2%Value creation/yr−1.3%
Balance & size
24.9×Interest coverage (EBIT/interest)7.5×
0.01×Debt / equity0.09×
$565MMarket cap$245B
expensiveGrowth qualityhealthy
SAP, median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 31.

SAP leads: 5 to 10 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.

eMudhraof which business quality 49 · market factors 67 SAPof which business quality 79 · market factors 55
ProfitabilityMargins and returns on capital today
48
62
Quality GrowthAre margins and returns improving?
44
76
CashflowEarnings quality: real cash, not paper profit
30
80
Fin. StrengthBalance sheet, leverage, solvency risk
83
79
InvestmentDisciplined investing over empire-building
0
94
Low VolatilityCalm price path (market factor)
71
60
MomentumPrice trend over the last 3–12 months (market factor)
69
63
52W MomentumDistance to the 52-week high (market factor)
60
34
Net IssuanceShare count: buybacks or dilution?
69
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 familyeMudhraPrice ₹653SAPPrice €186
DCF Modelsn/a−7.9%close to the price€171
Earnings-Based−29.6%below the price₹460−66.1%below the price€63.09
Dividend Discount−97.5%below the price₹16.62−75.8%below the price€45.06
Multiples−55.5%below the price₹291−20.1%below the price€149
Asset-Based−88.6%below the price₹74.41−86.0%below the price€25.98
Growth DCFn/a−19.6%below the price€149
Economic Profit−81.3%below the price₹123−60.1%below the price€74.18
Growth Earnings+1.6%close to the price₹664−15.1%below the price€158
Minimum−97.5%below the price₹16.62−86.0%below the price€25.98
Maximum+1.6%close to the price₹664−7.9%close to the price€171
Median−68.4%below the price₹207−40.1%below the price€111
Geometric mean−76.4%below the price₹154−53.2%below the price€87.01

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%.

eMudhra: 15 of 16 models see the stock below the current price.

SAP: 23 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.

eMudhra
Price ₹653
Fair Value ₹514
Bear ₹387Bull ₹642
SAP
Price €186
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.

eMudhra · Information Technology

Quality score47 · below median
Fair value upside−21.3% · below median

SAP · Information Technology

Quality score82 · Top 25%
Fair value upside−7.2% · above median

Bottom line

As of Sep 27, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: eMudhra trades at ₹653 versus a fair value of ₹514 (−21.3%), while SAP trades at €186 versus €172 (−7.2%).

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

Open SAP live analysis →

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