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STOCK COMPARISON

SAP vs Silvair: Fair Value & Quality

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

As of Sep 25, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: SAP trades at €184 versus a fair value of €172 (-6%), while Silvair trades at PLN 4.10 versus PLN 3.40 (-17%).
SAP
SAP.XETRA · EUR · Information Technology
-6%
upside to fair value
fairly valued
Price€184
Fair Value€172
Quality82/100
Silvair
SVRS.WAR · PLN · Information Technology
-17%
upside to fair value
overvalued
PricePLN 4.10
Fair ValuePLN 3.40
Quality60/100
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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

SAPSilvair
Valuation
29.6×P/E (TTM)n/a
6.59×P/S (TTM)4.53×
5.50×P/B1.93× · book value is mostly goodwill
20.9×EV/EBITDA33.5×
1.37×PEGn/a
−6.4%Fair value upside−17.1%
1.4%Dividend yieldn/a
€2.50Dividend per sharen/a
Profitability
30%Operating margin-38%
1.16×EBIT margin trend (5Y)n/a
16%Return on equity0%
9%Return on assets2%
Growth
6%Revenue growth (YoY)-29%
6.0%Avg. growth/yr (3Y)50.6%
6.1%Avg. growth/yr (5Y)64.1%
−1.2%Value creation/yrn/a
Balance & size
7.5×Interest coverage (EBIT/interest)5.4×
0.09×Debt / equity0.11×
$246BMarket cap$19M
healthyGrowth qualityexpensive

SAP leads: 7 to 3 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.

SAPof which business quality 79 · market factors 53 Silvairof which business quality 62 · market factors 21
ProfitabilityMargins and returns on capital today
62
31
Quality GrowthAre margins and returns improving?
76
99
CashflowEarnings quality: real cash, not paper profit
80
61
Fin. StrengthBalance sheet, leverage, solvency risk
79
65
InvestmentDisciplined investing over empire-building
94
23
Low VolatilityCalm price path (market factor)
60
50
MomentumPrice trend over the last 3–12 months (market factor)
61
14
52W MomentumDistance to the 52-week high (market factor)
33
2
Net IssuanceShare count: buybacks or dilution?
92
97

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 familySAPPrice €184SilvairPrice PLN 4.10
DCF Models-7%close to the price€171-69%below the pricePLN 1.26
Earnings-Based-66%below the price€63.09-75%below the pricePLN 1.03
Dividend Discount-76%below the price€45.06n/a
Multiples-19%below the price€149-81%below the pricePLN 0.77
Asset-Based-86%below the price€25.98-91%below the pricePLN 0.37
Growth DCF-19%below the price€149-76%below the pricePLN 0.99
Economic Profit-59%below the price€74.66-89%below the pricePLN 0.46
Growth Earnings-14%close to the price€158-64%below the pricePLN 1.48
Minimum-86%below the price€25.98-91%below the pricePLN 0.37
Maximum-7%close to the price€171-64%below the pricePLN 1.48
Median-39%below the price€112-76%below the pricePLN 0.99
Geometric mean-53%below the price€87.08-80%below the pricePLN 0.82

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%.

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

Silvair: 23 of 24 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.

SAP
Price €184
Fair Value €172
Bear €110Bull €222
Silvair
Price PLN 4.10
Fair Value PLN 3.40
Bear PLN 1.72Bull PLN 6.14

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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.

SAP · Information Technology

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

Silvair · Information Technology

Quality score60 · above median
Fair value upside-17% · above median

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees SAP as the less overvalued of the two: SAP trades at €184 versus a fair value of €172 (-6%), while Silvair trades at PLN 4.10 versus PLN 3.40 (-17%).

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

Open SAP live analysis →
SAP · Silvair

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