SAP SE (SAPN) fair value: what the stock is really worth
As of Sep 28, 2026: fair value of SAP SE MXN 2,793, price MXN 3,660, upside -23.7%, quality 81 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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SAP SE
SAPN · MXGreat Company, Expensive PriceHigh Quality, but the stock trades above estimated Fair Value.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.
How to read this chart
60‑month range 1,465 MXN – 5,874 MXN · fair‑value band 1,806 MXN – 3,894 MXN · the 3,660 MXN price screens above the 2,793 MXN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.
Company profile
SAP SE, together with its subsidiaries, provides enterprise application and business solutions worldwide.
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SAP SE, together with its subsidiaries, provides enterprise application and business solutions worldwide. It offers SAP Business AI; SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR, time, payroll, talent and employee experience management, and analytics and planning; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management. The company also provides SAP customer experience solutions; SAP Business Technology platform that enables customers and partners to build, integrate, and automate applications; and SAP Business Network, a business-to-business collaboration platform that helps digitalize key business processes across the supply chain and enables communication between trading partners. In addition, it offers SAP Signavio to help customers to discover, analyze, and understand business process operations; industry solutions that provide customers and partners with industry-specific solutions; and SAP LeanIX to visualize enterprise architecture, assess interdependencies and the potential impact of IT modernization, and manage the transition toward the target landscape. Further, the company provides WalkMe to execute workflows; SAP Enable Now, which offers e-learning content embedded in SAP workflows; Taulia solutions for working capital management; and sustainability solutions and services. Additionally, it provides services and support solutions. The company has a strategic collaboration with Fresenius SE & Co. KGaA and Avelios Medical GmbH for the development of a cloud-native, hospital information system that enables digitalization of clinical and administrative processes with AI integration. SAP SE was founded in 1972 and is headquartered in Walldorf, Germany.
Stock analysis
SAP SE (SAPN) currently trades at 3,660 MXN, while our model-based Fair Value estimate is 2,793 MXN, 23.7% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 3,037 MXN per share, and 1 of the 26 models we run sit above the 3,660 MXN price.
Bear case: the Asset-Based group reads lowest at 522.81 MXN, and 25 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 1,806 MXN (bear) to 3,894 MXN (bull), the price of 3,660 MXN sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 81/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
SAP SE reported revenue of €36.8B in FY2025 versus €27.8B in FY2021, a compound +7.2%/yr. Reported net income was €7.2B in FY2025, compounding +7.4%/yr from FY2021.
Key figures
Market cap 4.3T MXN (≈ $235B) · P/E ratio 29.4 · P/S ratio 5.72 · EPS (TTM) 124.47 MXN · Dividend yield 0.1% · Net margin 19.5% · Return on equity 16.4% · Return on assets (EBIT) 9.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (medium confidence).
What moves the price
The share trades about 28% below its 52-week high and 41% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −24%, SAPN screens richer than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 76 · Market factors (momentum, volatility) 39
Revenue & earnings trend
Growth Forecast
SAPN screens overvalued: fair value 24% below the price. Compare with Salesforce, Inc →
Compare SAP SE with another stock
Price, fair value, quality and upside side by side.
Context: sector, industry, market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Application stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Salesforce, Inc CRM | $229.57 | $342.73 | +49% |
| Shopify Inc SHOP | $144.01 | $64.36 | −55% |
| ServiceNow, Inc NOW | $134.01 | $147.41 | +10% |
| Uber Technologies, Inc UBER | $69.36 | $103.69 | +49% |
| Snowflake Inc SNOW | $330.31 | $74.36 | −77% |
| Automatic Data Processing, Inc ADP | $261.80 | $150.01 | −43% |
| Adobe Inc ADBE | $239.94 | $454.04 | +89% |
| Datadog, Inc DDOG | $268.70 | $32.52 | −88% |
| Cadence Design Systems, Inc CDNS | $326.70 | $225.48 | −31% |
| Intuit Inc INTU | $268.03 | $459.14 | +71% |
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Frequently asked questions
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Key figures of SAP SE
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