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SAP SEFRA:SAP +1.03%80 EV-to-OCF is 21.80 as of Aug. 11, 2026, which is 14% below its 10-year median of 25.26. GuruFocus rates FRA:SAP with a GF Score™ of 80/100 and a GF Value™ of €223.48 (Modestly Undervalued). Among 2,874 Software companies, SAP SE ranks worse than 78.67% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, SAP SE's Enterprise Value is €206,336 Mil.
SAP SE's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was €9,465 Mil. Therefore, SAP SE's EV-to-OCF for today is 21.80.
The historical rank and industry rank for SAP SE's EV-to-OCF or its related term are showing as below:
FRA:SAP'
s EV-to-OCF Range Over the Past 10 Years
Min: 16.77 Med: 25.26 Max: 62.88
Current: 21.8
During the past 13 years, the highest EV-to-OCF of SAP SE was 62.88. The lowest was 16.77. And the median was 25.26.
FRA:SAP's EV-to-OCF is ranked worse than 78.67% of 2874
companies
in the Software industry
Industry Median: 6.93
vs FRA:SAP: 21.80
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
As of today (2026-08-11), SAP SE's stock price is €179.82.
SAP SE's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 was €6.810. Therefore, SAP SE's PE Ratio (TTM) for today is 26.41.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
SAP SE's share price for today is €179.82.
SAP SE's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €6.810.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
SAP SE EV-to-OCF Related Terms
SAP SE EV-to-OCF Historical Data
* Premium members only.
The historical data trend for SAP SE's EV-to-OCF 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.
For the Software - Application subindustry, SAP SE's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Software Industry
For the Software industry and Technology sector, SAP SE's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where SAP SE's EV-to-OCF falls into.
SAP SE's current Enterprise Value is €206,336 Mil.
SAP SE's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €9,465 Mil.
* 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.
SAP SE (FRA:SAP) has a EV-to-OCF of 21.80 as of Aug. 11, 2026. This is 14% below median its historical median of 25.26. Over the past decade, SAP SE's EV-to-OCF has ranged from 16.77 to 62.88. According to the industry distribution chart, SAP SE ranks #2261 out of 2874 companies in the Software industry, placing it in the top 78.7%.
Is SAP SE's EV-to-OCF too high?
SAP SE's current EV-to-OCF of 21.80 is 14% below median its 10-year median of 25.26. Over the past 10 years, this metric has ranged from a low of 16.77 to a high of 62.88. The Software industry median EV-to-OCF is 6.93. SAP SE's value of 21.80 is 214.6% above this industry median. Based on the distribution chart, SAP SE ranks #2261 out of 2874 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, SAP SE has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SAP SE's EV-to-OCF compare to QH and SHOP?
According to the Software industry distribution chart, SAP SE ranks #2261 out of 2874 companies for EV-to-OCF. This places SAP SE in the lower half of its industry. The industry median EV-to-OCF is 6.93. SAP SE's value of 21.80 is 214.6% above this benchmark. Historically, SAP SE's own EV-to-OCF has ranged from 16.77 to 62.88 over the past decade. While the company's 10-year median is 25.26 vs. the industry median of 6.93, SAP SE has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for a Software company?
The median EV-to-OCF among Software companies is 6.93, based on 2,874 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SAP SE's current EV-to-OCF of 21.80 is 214.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Software industry, the median EV-to-OCF is 6.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SAP SE's current EV-to-OCF is 21.80, which is 14% below median its own 10-year median of 25.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SAP SE stock overvalued right now?
Based on GuruFocus' analysis, SAP SE (FRA:SAP) is currently considered Modestly Undervalued. The stock's GF Value™ is €223.48, compared to a current price of €179.82 — trading 19.5% below its estimated fair value. The current EV-to-OCF is 21.80, which is 14% below median its 10-year median of 25.26 and 214.6% above the Software industry median of 6.93. SAP SE's overall GF Score™ is 80/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For SAP SE (FRA:SAP), the current EV-to-OCF is 21.80 as of Aug. 11, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SAP SE (FRA:SAP) Overvalued in 2026?
Based on GuruFocus' analysis, SAP SE stock appears to be undervalued.
The current stock price of €179.82 is trading 19.5% below its estimated GF Value™ of €223.48.
GuruFocus considers SAP SE to be Modestly Undervalued.
Key valuation signals for FRA:SAP:
EV-to-OCF: 21.80 (14% below median its 10-year median of 25.26)
GF Value™: €223.48 vs. price of €179.82 (19.5% below fair value)
Industry Position: 214.6% above the Software median (#2261 of 2874)
No single metric tells the full story. See the FRA:SAP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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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