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Financial statements

SAP SE financial statements

Income statement, balance sheet and cash flow statement for the last 1 fiscal years, taken from the XBRL data SAP SE files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2017
Revenue28,205
Cost of revenue8,477
Gross profit19,728
Research and development4,030
General and administrative1,292
Operating income5,864
Interest expense334
Interest income557
Pre-tax income6,043
Income tax1,167
Net income to minority interests46
Net income4,830
EPS, basic4.03
EPS, diluted4.03

Balance sheet

FY2017
Cash and equivalents4,822
Receivables7,092
Total current assets14,343
Property, plant and equipment3,567
Goodwill25,576
Intangible assets3,567
Total assets51,090
Accounts payable1,383
Total current liabilities12,275
Total liabilities20,386
Paid-in capital685
Retained earnings29,808
Shareholders' equity30,667
Minority interests37
Total equity30,704
Total liabilities and equity51,090

Cash flow statement

FY2017
Net income4,876
Cash from operations6,065
Cash from investing-1,337
Debt issued33
Debt repaid-1,673
Share buybacks-601
Dividends paid-1,802
Cash from financing-4,095
Exchange rate effect-262
Net change in cash371
Interest paid241
Income taxes paid1,601

Key metrics

Worked out from the statements above. Latest values use fiscal 2017. Valuation uses the share price of $210.68 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin69.9%Gross profit / revenue.
Operating margin20.8%Operating income / revenue.
Pre-tax margin21.4%Pre-tax income / revenue.
Net margin17.1%Net income / revenue.
Operating cash flow margin21.5%Cash from operations / revenue.
Effective tax rate19.3%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)15.7%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)9.5%Net income / average total assets.
Return on invested capital (ROIC)18.3%Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue14.3%Research and development expense / revenue.

Balance sheet health

MetricValueHow it is calculated
Current ratio1.17xCurrent assets / current liabilities.
Quick ratio0.97x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.39x(Cash + short-term investments) / current liabilities.
Liabilities / assets39.9%Total liabilities / total assets.
Interest coverage17.6xOperating income / interest expense.
Working capital$2.07BCurrent assets - current liabilities.
Goodwill and intangibles / assets57.0%(Goodwill + intangible assets) / total assets.
Tangible book value$1.52BShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.55xRevenue / average total assets.
Fixed asset turnover7.91xRevenue / average property, plant and equipment.
Receivables turnover3.98xRevenue / average receivables.
Days sales outstanding92 days365 x average receivables / revenue.
Days payables60 days365 x average accounts payable / cost of revenue.

Per share

MetricValueHow it is calculated
EPS, diluted$4.03Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic$4.03Net income per basic share, as reported (split-adjusted).
Payout ratio37.3%Dividends paid / net income, when net income is positive.

Valuation

MetricValueHow it is calculated
Market cap$258.82BShare price x shares outstanding.
Enterprise value$254.00BMarket cap + total debt - cash - short-term investments.
P/E53.6xMarket cap / net income. Only when net income is positive.
P/S9.18xMarket cap / revenue.
P/B8.44xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book170xMarket cap / tangible book value, when positive.
P/OCF42.7xMarket cap / cash from operations, when positive.
EV/Sales9.01xEnterprise value / revenue.
EV/EBIT43.3xEnterprise value / operating income, when both are positive.
Earnings yield1.9%Net income / market cap (the inverse of P/E).
Dividend yield0.7%Dividends paid over the period / market cap.
Shareholder yield0.9%(Dividends paid + share buybacks) / market cap.
What was SAP SE's revenue in fiscal 2017?

SAP SE reported revenue of $28.21B for fiscal 2017.

Was SAP SE profitable in fiscal 2017?

Yes. Net income was $4.83B, a net margin of 17.1%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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