SAP SEWAR:SAP -0.63%66 PB Ratio is 3.45 as of Jun. 25, 2026, which is 19% below its 10-year median of 4.24. GuruFocus rates WAR:SAP with a GF Score™ of 66/100 and a GF Value™ of zł950.67 (Significantly Undervalued). Among 2,625 Software companies, SAP SE ranks worse than 66.13% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-25), SAP SE's share price is zł563.40. SAP SE's Book Value per Share for the quarter that ended in Mar. 2026 was zł163.22. Hence, SAP SE's PB Ratio of today is 3.45.
Good Sign:
SAP SE stock PB Ratio (=3.51) is close to 3-year low of 3.32.
The historical rank and industry rank for SAP SE's PB Ratio or its related term are showing as below:
WAR:SAP'
s PB Ratio Range Over the Past 10 Years
Min: 2.29 Med: 4.24 Max: 7.5
Current: 3.51
During the past 13 years, SAP SE's highest PB Ratio was 7.50. The lowest was 2.29. And the median was 4.24.
WAR:SAP's PB Ratio is ranked worse than 66.13% of 2625
companies
in the Software industry
Industry Median: 2.36
vs WAR:SAP: 3.51
During the past 12 months, SAP SE's average Book Value Per Share Growth Rate was -1.90% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 3.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 7.90% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 7.80% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of SAP SE was 40.20% per year. The lowest was -39.60% per year. And the median was 12.95% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
SAP SE PB Ratio Related Terms
SAP SE PB Ratio Historical Data
* Premium members only.
The historical data trend for SAP SE's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Software Industry
For the Software industry and Technology sector, SAP SE's PB Ratio distribution charts can be found below:
* The bar in red indicates where SAP SE's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
SAP SE's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
SAP SE (WAR:SAP) has a PB Ratio of 3.45 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on SAP SE and its competitors. This is 19% below median its historical median of 4.24. Over the past decade, SAP SE's PB Ratio has ranged from 2.29 to 7.50. According to the industry distribution chart, SAP SE ranks #1736 out of 2625 companies in the Software industry, placing it in the top 66.1%.
Is SAP SE's PB Ratio too high?
SAP SE's current PB Ratio of 3.45 is 19% below median its 10-year median of 4.24. Over the past 10 years, this metric has ranged from a low of 2.29 to a high of 7.50. The Software industry median PB Ratio is 2.36. SAP SE's value of 3.45 is 46.2% above this industry median. Based on the distribution chart, SAP SE ranks #1736 out of 2625 companies in the Software industry, which is below the industry midpoint. Overall, SAP SE has a GF Score™ of 66/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SAP SE's PB Ratio compare to CRM and SHOP?
According to the Software industry distribution chart, SAP SE ranks #1736 out of 2625 companies for PB Ratio. This places SAP SE in the lower half of its industry. The industry median PB Ratio is 2.36. SAP SE's value of 3.45 is 46.2% above this benchmark. Historically, SAP SE's own PB Ratio has ranged from 2.29 to 7.50 over the past decade. While the company's 10-year median is 4.24 vs. the industry median of 2.36, 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 PB Ratio for a Software company?
The median PB Ratio among Software companies is 2.36, based on 2,625 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SAP SE's current PB Ratio of 3.45 is 46.2% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on SAP SE and its competitors. For the Software industry, the median PB Ratio is 2.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SAP SE's current PB Ratio is 3.45, which is 19% below median its own 10-year median of 4.24. 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 (WAR:SAP) is currently considered Significantly Undervalued. The stock's GF Value™ is zł950.67, compared to a current price of zł563.40 — trading 40.7% below its estimated fair value. The current PB Ratio is 3.45, which is 19% below median its 10-year median of 4.24 and 46.2% above the Software industry median of 2.36. SAP SE's overall GF Score™ is 66/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For SAP SE (WAR:SAP), the current PB Ratio is 3.45 as of Jun. 25, 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 (WAR:SAP) Overvalued in 2026?
Based on GuruFocus' analysis, SAP SE stock appears to be undervalued.
The current stock price of zł563.40 is trading 40.7% below its estimated GF Value™ of zł950.67.
GuruFocus considers SAP SE to be Significantly Undervalued.
Key valuation signals for WAR:SAP:
PB Ratio: 3.45 (19% below median its 10-year median of 4.24)
GF Value™: zł950.67 vs. price of zł563.40 (40.7% below fair value)
Industry Position: 46.2% above the Software median (#1736 of 2625)
No single metric tells the full story. See the WAR: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.
66GF Score
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