SAP SE ADR (SAP) financial statements

Technology · Software - Application · Market cap $281.5B

SAP SE ADR reported revenue of 36.8B EUR in fiscal 2025, up 5.8% a year over 9 years.

Net income was 7.2B EUR and the operating margin 26.1%, against 23.3% in 2016.

Free cash flow was 8.4B EUR, and the company returned 2.7B EUR in dividends and 1.9B EUR in net buybacks.

Revenue and free cash flow

Fiscal years, $ billions (EUR).

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<p style="font-size:13px">Source: <a href="https://investingly.io/stocks/SAP/financials">SAP SE ADR financials</a> on Investingly</p>

Income statement

Fiscal years, in EUR, from SAP SE ADR's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	22.1B EUR	23.5B EUR	24.7B EUR	27.6B EUR	27.3B EUR	27.0B EUR	29.5B EUR	31.2B EUR	34.2B EUR	36.8B EUR
Cost of revenue	6.6B EUR	7.1B EUR	7.5B EUR	8.4B EUR	7.9B EUR	7.2B EUR	8.0B EUR	8.7B EUR	9.2B EUR	10.0B EUR
Gross profit	15.5B EUR	16.4B EUR	17.2B EUR	19.2B EUR	19.5B EUR	19.7B EUR	21.5B EUR	22.5B EUR	24.9B EUR	26.8B EUR
Research and development	3.0B EUR	3.4B EUR	3.6B EUR	4.3B EUR	4.5B EUR	5.3B EUR	6.1B EUR	6.3B EUR	6.5B EUR	6.6B EUR
Selling, general and admin	1.0B EUR	1.1B EUR	1.1B EUR	1.6B EUR	1.4B EUR	1.2B EUR	1.3B EUR	1.4B EUR	1.4B EUR	1.6B EUR
Operating income	5.1B EUR	4.9B EUR	5.7B EUR	4.5B EUR	6.6B EUR	6.3B EUR	5.9B EUR	5.8B EUR	4.7B EUR	9.6B EUR
Interest expense	259M EUR	288M EUR	418M EUR	589M EUR	697M EUR	945M EUR	2.2B EUR	639M EUR	545M EUR	492M EUR
Pre-tax income	4.9B EUR	5.0B EUR	5.6B EUR	4.6B EUR	7.2B EUR	8.5B EUR	4.5B EUR	5.3B EUR	4.8B EUR	10.3B EUR
Income tax	1.2B EUR	983M EUR	1.5B EUR	1.2B EUR	1.9B EUR	1.7B EUR	1.4B EUR	1.7B EUR	1.6B EUR	2.9B EUR
Net income	3.6B EUR	4.0B EUR	4.1B EUR	3.3B EUR	5.1B EUR	5.3B EUR	2.3B EUR	6.1B EUR	3.1B EUR	7.2B EUR
EPS (diluted)	3.04 EUR	3.35 EUR	3.42 EUR	2.78 EUR	4.35 EUR	4.46 EUR	1.94 EUR	5.20 EUR	2.65 EUR	6.10 EUR
Diluted shares	1.20B	1.20B	1.19B	1.19B	1.18B	1.18B	1.18B	1.18B	1.18B	1.18B
Gross margin	70.2%	69.9%	69.8%	69.7%	71.2%	73.2%	72.8%	72.2%	73.0%	72.9%
Operating margin	23.3%	20.8%	23.1%	16.2%	24.2%	23.4%	20.0%	18.6%	13.6%	26.1%
Net margin	16.5%	17.1%	16.5%	12.1%	18.8%	19.5%	7.7%	19.7%	9.1%	19.5%

Balance sheet

Fiscal years, in EUR, from SAP SE ADR's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Cash and short-term investments	4.7B EUR	4.8B EUR	8.6B EUR	5.3B EUR	5.3B EUR	8.9B EUR	9.0B EUR	8.1B EUR	9.6B EUR	8.2B EUR
Receivables	5.9B EUR	5.9B EUR	6.4B EUR	7.9B EUR	6.6B EUR	6.4B EUR	6.2B EUR	6.3B EUR	6.8B EUR	6.7B EUR
Total current assets	11.6B EUR	11.9B EUR	16.6B EUR	15.2B EUR	15.1B EUR	20.0B EUR	18.5B EUR	20.6B EUR	21.4B EUR	20.3B EUR
Property, plant and equipment	2.6B EUR	3.0B EUR	3.6B EUR	5.5B EUR	5.0B EUR	5.0B EUR	4.9B EUR	4.3B EUR	4.5B EUR	4.5B EUR
Goodwill	23.3B EUR	21.3B EUR	23.7B EUR	29.2B EUR	27.5B EUR	31.1B EUR	33.1B EUR	29.1B EUR	31.3B EUR	29.0B EUR
Total assets	44.3B EUR	42.5B EUR	51.5B EUR	60.2B EUR	58.5B EUR	71.2B EUR	72.2B EUR	68.3B EUR	74.2B EUR	70.4B EUR
Total current liabilities	9.7B EUR	10.2B EUR	10.5B EUR	14.5B EUR	12.8B EUR	16.1B EUR	17.5B EUR	14.6B EUR	19.1B EUR	17.4B EUR
Long-term debt	6.4B EUR	5.0B EUR	10.6B EUR	11.1B EUR	11.8B EUR	9.3B EUR	7.8B EUR	6.6B EUR	5.7B EUR	4.5B EUR
Total liabilities	17.9B EUR	17.0B EUR	22.6B EUR	29.4B EUR	28.5B EUR	29.7B EUR	29.3B EUR	24.9B EUR	28.4B EUR	25.3B EUR
Shareholders' equity	26.4B EUR	25.5B EUR	28.8B EUR	30.7B EUR	29.7B EUR	38.9B EUR	40.2B EUR	43.2B EUR	45.4B EUR	44.6B EUR
Net debt	4.1B EUR	2.3B EUR	2.7B EUR	8.4B EUR	8.0B EUR	4.2B EUR	2.8B EUR	-369M EUR	-224M EUR	-2.1B EUR

Cash flow

Fiscal years, in EUR, from SAP SE ADR's 10-K filings with the SEC.

Fiscal year	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating cash flow	4.6B EUR	5.0B EUR	4.3B EUR	3.5B EUR	7.2B EUR	6.2B EUR	5.6B EUR	6.2B EUR	5.2B EUR	9.2B EUR
Capital spending	1.0B EUR	1.3B EUR	1.5B EUR	817M EUR	816M EUR	701M EUR	877M EUR	785M EUR	797M EUR	739M EUR
Free cash flow	3.6B EUR	3.8B EUR	2.8B EUR	2.7B EUR	6.4B EUR	5.5B EUR	4.8B EUR	5.5B EUR	4.4B EUR	8.4B EUR
Stock-based compensation	—	1.1B EUR	830M EUR	1.8B EUR	1.1B EUR	1.3B EUR	1.4B EUR	2.2B EUR	2.4B EUR	1.7B EUR
Dividends paid	1.4B EUR	1.5B EUR	1.7B EUR	1.8B EUR	1.9B EUR	2.3B EUR	2.9B EUR	2.4B EUR	2.6B EUR	2.7B EUR
Share buybacks (net)	0 EUR	-500M EUR	0 EUR	0 EUR	-1.5B EUR	0 EUR	-1.5B EUR	-949M EUR	-2.1B EUR	-1.9B EUR
Net borrowing	-1.4B EUR	-1.4B EUR	5.0B EUR	2.3B EUR	-298M EUR	-272M EUR	-1.3B EUR	-4.1B EUR	1.6B EUR	-3.2B EUR
Free cash flow margin	16.4%	16.1%	11.5%	9.7%	23.3%	20.5%	16.2%	17.5%	12.9%	22.9%
Dividends per share	1.15 EUR	1.25 EUR	1.40 EUR	1.50 EUR	1.58 EUR	1.92 EUR	2.46 EUR	2.05 EUR	2.17 EUR	2.34 EUR

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Questions

What was SAP SE ADR's revenue in 2025?

36.8B EUR in fiscal 2025, from its 10-K filing.

How much free cash flow does SAP SE ADR generate?

8.4B EUR in fiscal 2025 (operating cash flow minus capital spending).

From SAP SE ADR's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.