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SAP SE (MEX:SAP N) Cyclically Adjusted FCF per Share : MXN96.56 (As of Mar. 2025)


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What is SAP SE Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

SAP SE's adjusted free cash flow per share for the three months ended in Mar. 2025 was MXN67.892. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is MXN96.56 for the trailing ten years ended in Mar. 2025.

During the past 12 months, SAP SE's average Cyclically Adjusted FCF Growth Rate was 6.20% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 7.60% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 8.70% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 7.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of SAP SE was 10.30% per year. The lowest was 4.20% per year. And the median was 7.40% per year.

As of today (2025-06-25), SAP SE's current stock price is MXN5583.26. SAP SE's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was MXN96.56. SAP SE's Cyclically Adjusted Price-to-FCF of today is 57.82.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of SAP SE was 66.41. The lowest was 23.09. And the median was 35.01.


SAP SE Cyclically Adjusted FCF per Share Historical Data

The historical data trend for SAP SE's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

SAP SE Cyclically Adjusted FCF per Share Chart

SAP SE Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 74.06 76.71 77.33 75.11 88.24

SAP SE Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 69.42 80.43 91.46 88.24 96.56

Competitive Comparison of SAP SE's Cyclically Adjusted FCF per Share

For the Software - Application subindustry, SAP SE's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


SAP SE's Cyclically Adjusted Price-to-FCF Distribution in the Software Industry

For the Software industry and Technology sector, SAP SE's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where SAP SE's Cyclically Adjusted Price-to-FCF falls into.


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SAP SE Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, SAP SE's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=67.892/127.7792*127.7792
=67.892

Current CPI (Mar. 2025) = 127.7792.

SAP SE Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 3.998 100.417 5.087
201509 5.050 100.417 6.426
201512 2.838 99.717 3.637
201603 36.996 100.017 47.265
201606 3.483 100.717 4.419
201609 8.090 101.017 10.233
201612 12.062 101.217 15.227
201703 43.333 101.417 54.597
201706 5.484 102.117 6.862
201709 4.676 102.717 5.817
201712 11.825 102.617 14.725
201803 40.338 102.917 50.083
201806 0.269 104.017 0.330
201809 3.162 104.718 3.858
201812 9.485 104.217 11.629
201903 44.829 104.217 54.964
201906 -5.490 105.718 -6.636
201909 8.631 106.018 10.403
201912 1.123 105.818 1.356
202003 57.671 105.718 69.706
202006 13.746 106.618 16.474
202009 25.755 105.818 31.100
202012 39.737 105.518 48.121
202103 60.506 107.518 71.908
202106 10.020 108.486 11.802
202109 20.090 109.435 23.458
202112 21.903 110.384 25.355
202203 42.293 113.968 47.418
202206 1.304 115.760 1.439
202209 9.729 118.818 10.463
202212 32.569 119.345 34.871
202303 34.800 122.402 36.329
202306 11.176 123.140 11.597
202309 14.841 124.195 15.269
202312 27.821 123.773 28.722
202403 41.597 125.038 42.509
202406 20.935 125.882 21.251
202409 24.511 126.198 24.818
202412 -14.709 127.041 -14.794
202503 67.892 127.779 67.892

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


SAP SE  (MEX:SAP N) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

SAP SE's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=5583.26/96.56
=57.82

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of SAP SE was 66.41. The lowest was 23.09. And the median was 35.01.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


SAP SE Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of SAP SE's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


SAP SE Business Description

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Founded in Germany in 1972 by former IBM employees, SAP is the world's largest provider of enterprise application software. Known as the leader in enterprise resource planning software, SAP's portfolio also includes software for supply chain management, procurement, travel and expense management, and customer relationship management, among others. The company operates in more than 180 countries and has more than 400,000 customers, approximately 80% of which are small to medium-size enterprises.

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