SAP drawdown: 33.4% below the all-time high
SAP SE ADS (SAP) is 33.4% below its all-time high, set Jul 9, 2025 (as of market close, Aug 17, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1995).
- Below all-time high
- −33.4%
- 66.6% of ATH
- All-time high
- $311.9
- Jul 9, 2025
- Time below the high
- 13 mo
- since Jul 9, 2025
- Worst-ever drawdown
- −88.0%
- Oct 7, 2002
- Longest underwater
- 13.0 yrs
- between all-time highs
- Today's level first reached
- Jul 23, 2024
- 2.1 yrs ago
- Last time this deep
- Jan 9, 2023
- in a previous episode
% of all-time high since 1995#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of SAP, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Mar 10, 2000 | Oct 7, 2002 | −88.0% | 2.6 yrs | Mar 14, 2013 | 13.0 yrs |
| Jul 31, 1998 | Mar 23, 1999 | −61.3% | 8 mo | Jan 13, 2000 | 17 mo |
| Sep 2, 2020 | Sep 27, 2022 | −53.2% | 2.1 yrs | Jan 24, 2024 | 3.4 yrs |
| Jul 9, 2025 | Jul 23, 2026 | −53.1% | 12 mo | not yet | 13 mo+ |
| Jul 3, 2019 | Mar 19, 2020 | −32.9% | 9 mo | Jun 22, 2020 | 12 mo |
| Oct 18, 1996 | Nov 1, 1996 | −32.0% | 14 days | May 2, 1997 | 6 mo |
| Dec 15, 1995 | Apr 11, 1996 | −29.0% | 4 mo | Sep 13, 1996 | 9 mo |
| Dec 31, 2013 | Sep 28, 2015 | −27.3% | 1.7 yrs | Jul 29, 2016 | 2.6 yrs |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1995: how far SAP stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: SAP is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is SAP from its all-time high?
- SAP is currently 33.4% below its all-time high, set Jul 9, 2025 (as of market close, Aug 17, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest SAP drawdown ever?
- The deepest decline on record in our data (since 1995) took the stock 88.0% below its prior high, bottoming Oct 7, 2002. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1995 (split-adjusted). "All-time" means since our price data begins — SAP may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.