SAP financial statements
The full income statement, balance sheet, and cash-flow statement for SAP SE ADS (SAP), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 41.6B+12.6% | 37.0B+9.6% | 33.8B+8.7% | 31.0B-2.6% | 31.9B+2.3% | |
| 30.3B+12.5% | 27.0B+10.7% | 24.4B+7.9% | 22.6B-3.2% | 23.3B+5.3% | ||
| Cost of revenue | 11.3B+13.0% | 10.0B+6.6% | 9.38B+11.0% | 8.45B-1.0% | 8.54B-5.0% | |
| Research & development | 7.51B+6.5% | 7.05B+3.1% | 6.84B+7.0% | 6.39B+2.5% | 6.23B+22.8% | |
| Operating income | 10.9B+115.6% | 5.05B-19.5% | 6.27B+0.9% | 6.22B-16.7% | 7.46B-1.2% | |
| Interest expense | 1.56B+39.7% | 1.12B-21.4% | 1.42B-38.6% | 2.31B+106.9% | 1.12B+40.7% | |
| Pre-tax income | 11.6B+125.4% | 5.16B-10.8% | 5.78B+21.7% | 4.74B-52.8% | 10.1B+22.2% | |
| Income tax | 3.33B+90.7% | 1.75B-7.2% | 1.88B+23.9% | 1.52B-23.6% | 1.99B-9.9% | |
| 8.29B+143.2% | 3.41B-47.2% | 6.45B+259.2% | 1.80B-71.8% | 6.36B+5.6% | ||
| Net income to common | 8.10B+139.7% | 3.38B-49.1% | 6.64B+176.5% | 2.40B-61.4% | 6.22B+6.0% | |
| $6.90+140.7% | $2.87-49.0% | $5.62+175.7% | $2.04-61.3% | $5.28+6.4% | ||
| EPS (basic) | $6.95+139.6% | $2.90-49.0% | $5.69+177.5% | $2.05-61.1% | $5.28+6.4% | |
| Weighted-avg shares (basic) | 1.17B+0.0% | 1.17B-0.1% | 1.17B-0.3% | 1.17B-0.8% | 1.18B-0.2% | |
| Weighted-avg shares (diluted) | 1.18B-0.4% | 1.18B+0.0% | 1.18B+0.4% | 1.18B-0.4% | 1.18B-0.2% | |
| Dividends per share | $2.66+11.7% | $2.38+7.4% | $2.22-13.9% | $2.58+17.7% | $2.19+21.5% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 23.8B+6.6% | 22.3B-2.0% | 22.8B+15.3% | 19.7B-13.3% | 22.8B+23.3% | ||
| Cash & equivalents | 9.66B-3.7% | 10.0B+11.5% | 8.99B-6.4% | 9.60B-5.0% | 10.1B+55.3% | |
| Accounts receivable | 7.84B+11.0% | 7.06B+1.0% | 7.00B+5.3% | 6.65B-7.9% | 7.22B-10.7% | |
| 82.6B+6.7% | 77.4B+2.4% | 75.6B-1.7% | 76.9B-4.9% | 80.9B+12.9% | ||
| Property, plant & equipment | — | — | — | 5.26B-7.0% | 5.65B-8.5% | |
| Goodwill | 34.1B+4.5% | 32.6B+1.3% | 32.2B-8.7% | 35.3B-0.2% | 35.3B+4.7% | |
| Total non-current assets | 58.9B+6.8% | 55.1B+4.2% | 52.9B-7.6% | 57.2B-1.6% | 58.1B+9.2% | |
| Total current liabilities | 20.5B+2.8% | 19.9B+22.8% | 16.2B-12.9% | 18.6B+1.5% | 18.3B+16.5% | |
| 29.7B+0.2% | 29.7B+7.5% | 27.6B-11.7% | 31.2B-7.2% | 33.7B-3.7% | ||
| Long-term debt | 5.34B-10.8% | 5.99B-18.1% | 7.32B-11.7% | 8.29B-21.8% | 10.6B-26.6% | |
| 52.4B+10.5% | 47.4B-0.8% | 47.8B+11.5% | 42.8B-2.9% | 44.1B+21.2% | ||
| Total equity incl. non-controlling | 52.9B+10.8% | 47.8B-0.6% | 48.0B+5.2% | 45.7B-3.2% | 47.2B+28.6% | |
| Common shares issued | 1.23B+0.0% | 1.23B+0.0% | 1.23B+0.0% | 1.23B+0.0% | 1.23B+0.0% | |
| Shares outstanding (cover) | 1.23B+0.0% | 1.23B+0.0% | 1.23B+0.0% | 1.23B+0.0% | 1.23B+0.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash from operations | 10.4B+83.9% | 5.63B-16.6% | 6.76B+13.8% | 5.94B-19.3% | 7.36B-10.2% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 2.26M-99.9% | 2.99B+21195.8% | 14.1M-91.5% | 166M-91.6% | 1.99B-18.2% | |
| Long-term debt repaid | 3.61B+181.6% | 1.28B-70.9% | 4.41B+190.5% | 1.52B-34.2% | 2.31B-16.7% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 2.17B-5.0% | 2.28B+117.9% | 1.05B-33.6% | 1.58B | 0.00-100.0% | |
| Dividends paid | 3.10B+11.8% | 2.78B+7.2% | 2.59B-14.0% | 3.01B+16.7% | 2.58B+21.5% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 285B-1.8% | 291B+59.9% | 182B+49.2% | 122B-26.4% | 165B+3.2% | |
| P/E | 34.4×-59.6% | 85.2×-15.7% | 101.2×+428.2% | 19.1×-26.4% | 26.0×-2.2% | |
| P/S | 6.9×-12.7% | 7.9×+34.2% | 5.9×+53.2% | 3.8×-26.4% | 5.2×+0.9% | |
| P/B | 5.4×-11.1% | 6.1×+44.6% | 4.2×+53.7% | 2.8×-26.4% | 3.7×-14.9% | |
| Earnings yield | 2.9%+147.5% | 1.2%+18.7% | 0.99%-81.1% | 5.2%+35.8% | 3.8%+2.3% | |
| Dividend yield | 1.1%+13.2% | 0.97%-32.6% | 1.4%-42.5% | 2.5%+59.8% | 1.6%+13.1% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: SAP’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SAP filings on SEC EDGAR → Not investment advice.