SAP SE (CHIX:SAPD) ROCE %: 23.02% (As of Mar. 2026)


CHIX:SAPD SAP SE CHIX:SAPD
76 GF Score
Price €132.55
GF Value €215.37
Valuation Significantly Undervalued
View Full Analysis

What is SAP SE ROCE %?

SAP SE CHIX:SAPD 76 ROCE % is 23.02% as of Mar. 2026. GuruFocus rates CHIX:SAPD with a GF Score™ of 76/100 and a GF Value™ of €215.37 (Significantly Undervalued).

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. SAP SE's annualized ROCE % for the quarter that ended in Mar. 2026 was 23.02%.

SAP SE  (CHIX:SAPd) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

SAP SE ROCE % Related Terms

SAP SE ROCE % Historical Data

* Premium members only.

The historical data trend for SAP SE's ROCE % 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.

SAP SE ROCE % Chart

SAP SE Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 18.78 8.95 11.03 9.76 19.91

SAP SE Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROCE % 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 19.94 21.22 24.30 16.79 23.02
CHIX:SAPD
76GF Score
SAP SE CHIX:SAPD
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SAP SE ROCE % Calculation

SAP SE's annualized ROCE % for the fiscal year that ended in Dec. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Dec. 2025 )  (A: Dec. 2024 )(A: Dec. 2025 )
=10762/( ( (74237 - 19082) + (70362 - 17416) )/ 2 )
=10762/( (55155+52946)/ 2 )
=10762/54050.5
=19.91 %

SAP SE's ROCE % of for the quarter that ended in Mar. 2026 is calculated as:

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Mar. 2026 )  (Q: Dec. 2025 )(Q: Mar. 2026 )
=12152/( ( (70362 - 17416) + (73462 - 20820) )/ 2 )
=12152/( ( 52946 + 52642 )/ 2 )
=12152/52794
=23.02 %

(1) Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

* 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.

Frequently Asked Questions Learn more about ROCE % →
What does a ROCE % of 23.02% mean?
SAP SE (CHIX:SAPD) has a ROCE % of 23.02% as of Mar. 2026.
Is SAP SE's ROCE % too high?
SAP SE's current ROCE % is 23.02%. The Software industry median ROCE % is 5.28. SAP SE's value of 23.02% is 336% above this industry median. Overall, SAP SE has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SAP SE's ROCE % compare to CRM and SHOP?
SAP SE's ROCE % of 23.02% can be compared against companies in the Software industry. The industry median ROCE % is 5.28. SAP SE's value of 23.02% is 336% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for a Software company?
The median ROCE % among Software companies is 5.28, based on 2,711 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SAP SE's current ROCE % of 23.02% is 336% 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Software industry, the median ROCE % is 5.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SAP SE's current ROCE % is 23.02%. 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 (CHIX:SAPD) is currently considered Significantly Undervalued. The stock's GF Value™ is €215.37, compared to a current price of €132.55 — trading 38.5% below its estimated fair value. The current ROCE % is 23.02% and 336% above the Software industry median of 5.28. SAP SE's overall GF Score™ is 76/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROCE % calculated?
ROCE % is calculated from a company's financial statements. For SAP SE (CHIX:SAPD), the current ROCE % is 23.02% as of Mar. 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 (CHIX:SAPD) Overvalued in 2026?

Based on GuruFocus' analysis, SAP SE stock appears to be undervalued. The current stock price of €132.55 is trading 38.5% below its estimated GF Value™ of €215.37. GuruFocus considers SAP SE to be Significantly Undervalued.

Key valuation signals for CHIX:SAPD:

  • ROCE %: 23.02%
  • GF Value™: €215.37 vs. price of €132.55 (38.5% below fair value)
  • GF Score™: 76/100
  • Industry Position: 336% above the Software median

No single metric tells the full story. See the CHIX:SAPD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

SAP SE Business Description

Address Dietmar-Hopp-Allee 16, Walldorf, BW, DEU, 69190
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.
76GF Score

Get the complete analysis for CHIX:SAPD

ROCE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€132.55
Price
€215.37
GF Value