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Stocks / Foreign companies / SAP · Services-Prepackaged Software

SAP SE (SAP)

SAP SE files a 20-F with the SEC once a year, in euros. In the year to 31 December 2025 it reported revenue of EUR 36,800 million, up 7.7% on the year before. Its profit attributable to shareholders was EUR 7,161 million, up 129.2%, and diluted earnings per share EUR 6.10.

Earnings per share are per ordinary share, in euros. The share that trades in the US can be a depositary share standing for more or fewer ordinary shares, so no price ratio is worked out on this page.

The public record on SAP

Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 1.04 by open interest on 26 September 2026; the straddle prices a 3.8% move to 2 October 2026
Holders8 of the followed funds hold it; largest FMR LLC; 0 Schedule 13D or 13G filings in twelve months
Congress0 House trades disclosed in six months
Short interest5.0 million shares short, 2.33 days to cover at 15 September 2026

Profit and loss, 11 fiscal years

Year toDec 2025Dec 2024*Dec 2023*Dec 2022*Dec 2021*Dec 2020Dec 2019Dec 2018Dec 2017*Dec 2016*Dec 2015
Revenue36,80034,17631,20729,52026,95327,33827,55324,70823,46122,06220,793
Cost of sales9,9869,2438,6748,0387,2197,8868,3557,4627,0516,5836,245
Gross profit26,81424,93222,53421,48219,73419,45319,19917,24616,41015,47914,548
Research and development6,6336,5146,3246,0805,2704,4544,2923,6243,3523,0442,845
Operating profit9,6174,6655,7995,9146,3086,6234,4735,7034,8775,1354,252
Finance costs1,3771,0311,3132,200945697589418288259246
Profit before tax10,2704,7645,3414,5138,5057,2204,5965,6005,0294,8723,991
Income tax2,9441,6141,7411,4461,6821,9381,2261,5119831,242935
Profit for the year7,3263,1505,9641,7085,3765,2833,3704,0884,0463,6293,056
Profit attributable to shareholders7,1613,1246,1392,2845,2565,1453,3214,0834,0083,6423,064

EUR million, from each year's annual report on the SEC's EDGAR, the year linked to its filing, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated. A year marked * shows the figure as the company restated it in a later annual report (Dec 2016, Dec 2017, Dec 2021, Dec 2022, Dec 2023, Dec 2024); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on.

Year toDec 2025Dec 2024*Dec 2023*Dec 2022*Dec 2021*Dec 2020Dec 2019Dec 2018Dec 2017*Dec 2016*Dec 2015
Diluted EPS6.102.655.201.944.464.352.783.423.353.042.56
Basic EPS6.142.685.261.954.464.352.783.423.353.042.56

EUR per ordinary share, as filed.

Cash flow

Year toDec 2025Dec 2024*Dec 2023*Dec 2022*Dec 2021*Dec 2020Dec 2019Dec 2018Dec 2017*Dec 2016*Dec 2015
Cash from operations9,1565,2076,2465,6476,2237,1943,4964,3035,0454,6283,638
Dividends paid2,7432,5652,3952,8652,1821,8641,7901,6711,4991,3781,316

EUR million. Purchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines.

Balance sheet at year end

Year toDec 2025Dec 2024*Dec 2023*Dec 2022*Dec 2021*Dec 2020Dec 2019Dec 2018Dec 2017*Dec 2016*Dec 2015
Total assets70,36274,23768,33172,15971,17458,46460,21251,50242,48444,277n/a
Equity attributable to shareholders44,58645,43843,15740,18638,85329,71630,74628,83225,48426,37623,285
Cash and cash equivalents8,2209,6098,1249,0088,8985,3115,3148,6274,0113,7023,411
Borrowings, as filed6,1509,3857,75511,76413,09413,28313,66811,3316,264n/an/a
Lease liabilities1,6841,7151,6212,1402,1432,1202,203n/an/an/an/a
Trade and other receivables6,6756,7746,3226,2366,3526,5937,9086,3625,8995,924n/a
Goodwill29,01431,26429,08133,07731,08927,53829,15923,73621,27123,311n/a

EUR million, at each fiscal year end. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year toDec 2025Dec 2024*Dec 2023*Dec 2022*Dec 2021*Dec 2020Dec 2019Dec 2018Dec 2017*Dec 2016*Dec 2015
Gross margin72.9%73.0%72.2%72.8%73.2%71.2%69.7%69.8%69.9%70.2%70.0%
Operating margin26.1%13.6%18.6%20.0%23.4%24.2%16.2%23.1%20.8%23.3%20.4%
Net margin19.5%9.1%19.7%7.7%19.5%18.8%12.1%16.5%17.1%16.5%14.7%
Return on year-end equity16.1%6.9%14.2%5.7%13.5%17.3%10.8%14.2%15.7%13.8%13.2%
Effective tax rate28.7%33.9%32.6%32.0%19.8%26.8%26.7%27.0%19.5%25.5%23.4%

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Annual reports on EDGAR

FormYear toFiled
20-F31 December 202526 February 2026EDGAR
20-F31 December 202427 February 2025EDGAR
20-F31 December 202329 February 2024EDGAR
20-F31 December 20222 March 2023EDGAR
20-F31 December 20213 March 2022EDGAR
20-F31 December 20204 March 2021EDGAR
20-F31 December 201927 February 2020EDGAR
20-F31 December 201828 February 2019EDGAR
20-F31 December 201728 February 2018EDGAR
20-F31 December 201628 February 2017EDGAR
20-F31 December 201529 March 2016EDGAR
20-F31 December 201420 March 2015EDGAR

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