SAP SE (SAP) - Net Assets
Based on the latest financial reports, SAP SE (SAP) has net assets worth €43.24 Billion EUR as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€68.40 Billion) and total liabilities (€25.16 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €43.24 Billion |
| % of Total Assets | 63.22% |
| Annual Growth Rate | 10.0% |
| 5-Year Change | 53.08% |
| 10-Year Change | 96.64% |
| Growth Volatility | 11.91 |
SAP SE - Net Assets Trend (2013–2024)
This chart illustrates how SAP SE's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for SAP SE (2013–2024)
The table below shows the annual net assets of SAP SE from 2013 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | €45.81 Billion | +5.53% |
| 2023-12-31 | €43.41 Billion | +1.29% |
| 2022-12-31 | €42.85 Billion | +3.20% |
| 2021-12-31 | €41.52 Billion | +38.76% |
| 2020-12-31 | €29.92 Billion | -2.91% |
| 2019-12-31 | €30.82 Billion | +6.74% |
| 2018-12-31 | €28.88 Billion | +13.07% |
| 2017-12-31 | €25.54 Billion | -3.25% |
| 2016-12-31 | €26.40 Billion | +13.32% |
| 2015-12-31 | €23.30 Billion | +19.26% |
| 2014-12-31 | €19.53 Billion | +21.72% |
| 2013-12-31 | €16.05 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to SAP SE's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 163.9% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €42.91 Billion | 94.43% |
| Other Components | €2.53 Billion | 5.57% |
| Total Equity | €45.44 Billion | 100.00% |
SAP SE Competitors by Market Cap
The table below lists competitors of SAP SE ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Linde plc Ordinary Shares
NASDAQ:LIN
|
$210.18 Billion |
|
Commonwealth Bank of Australia
AU:CBA
|
$210.87 Billion |
|
Hermes International SCA
PA:RMS
|
$213.39 Billion |
|
PepsiCo Inc
NASDAQ:PEP
|
$215.48 Billion |
|
Arista Networks Inc
NEO:ANET
|
$206.87 Billion |
|
Texas Instruments Incorporated
NASDAQ:TXN
|
$205.49 Billion |
|
T-MOBILE US INC.DL-00001
XETRA:TM5
|
$204.02 Billion |
|
Reliance Industries Limited
NSE:RELIANCE
|
$199.77 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SAP SE's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 43,157,000,000 to 45,440,000,000, a change of 2,283,000,000 (5.3%).
- Net income of 3,124,000,000 contributed positively to equity growth.
- Dividend payments of 2,565,000,000 reduced retained earnings.
- Share repurchases of 2,106,000,000 reduced equity.
- Other factors increased equity by 3,830,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €3.12 Billion | +6.88% |
| Dividends Paid | €2.56 Billion | -5.64% |
| Share Repurchases | €2.11 Billion | -4.63% |
| Other Changes | €3.83 Billion | +8.43% |
| Total Change | €- | 5.29% |
Book Value vs Market Value Analysis
This analysis compares SAP SE's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.94x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 7.18x to 3.94x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €21.37 | €153.40 | x |
| 2018-12-31 | €24.15 | €153.40 | x |
| 2019-12-31 | €25.76 | €153.40 | x |
| 2020-12-31 | €25.19 | €153.40 | x |
| 2021-12-31 | €32.94 | €153.40 | x |
| 2022-12-31 | €34.39 | €153.40 | x |
| 2023-12-31 | €36.97 | €153.40 | x |
| 2024-12-31 | €38.95 | €153.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SAP SE utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.88%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 9.14%
- • Asset Turnover: 0.46x
- • Equity Multiplier: 1.63x
- Recent ROE (6.88%) is below the historical average (13.64%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 20.74% | 19.78% | 0.62x | 1.69x | €1.72 Billion |
| 2014 | 16.82% | 18.68% | 0.46x | 1.98x | €1.33 Billion |
| 2015 | 13.17% | 14.74% | 0.50x | 1.78x | €737.30 Million |
| 2016 | 13.82% | 16.53% | 0.50x | 1.68x | €1.01 Billion |
| 2017 | 15.75% | 17.13% | 0.55x | 1.67x | €1.47 Billion |
| 2018 | 14.16% | 16.53% | 0.48x | 1.79x | €1.20 Billion |
| 2019 | 10.80% | 12.05% | 0.46x | 1.96x | €246.40 Million |
| 2020 | 17.77% | 19.31% | 0.47x | 1.97x | €2.31 Billion |
| 2021 | 13.85% | 19.32% | 0.39x | 1.83x | €1.49 Billion |
| 2022 | 5.71% | 7.42% | 0.43x | 1.80x | €-1.72 Billion |
| 2023 | 14.22% | 19.67% | 0.46x | 1.58x | €1.82 Billion |
| 2024 | 6.88% | 9.14% | 0.46x | 1.63x | €-1.42 Billion |
Industry Comparison
This section compares SAP SE's net assets metrics with peer companies in the Software - Application industry.
Industry Context
- Industry: Software - Application
- Average net assets among peers: $398,142,324
- Average return on equity (ROE) among peers: 11.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SAP SE (SAP) | €43.24 Billion | 20.74% | 0.58x | $208.86 Billion |
| Growens S.p.A. (0MU) | $56.87 Million | 102.36% | 0.45x | $34.45 Million |
| Paylocity Holding Corporation (0P7) | $476.93 Million | 14.85% | 4.06x | $5.02 Billion |
| Patriot One Technologies Inc (0PL) | $14.74 Million | -110.81% | 0.29x | $81.70 Million |
| Paycom Soft (0PY) | $116.53 Million | 60.43% | 8.26x | $6.79 Billion |
| innoscripta SE (1INN) | $18.07 Million | 56.86% | 0.96x | $681.00 Million |
| Nextech3D.AI Corporation (1SS) | $-1.50 Million | 0.00% | 0.00x | $15.64 Million |
| AXWAY SOFTWARE EO 2 (1XV) | $346.27 Million | 10.35% | 0.72x | $965.69 Million |
| Spyrosoft Spólka Akcyjna (2NP) | $85.10 Million | 31.41% | 0.95x | $111.02 Million |
| WEIMOB INC. DL-0001 (36W) | $2.80 Billion | -27.06% | 1.81x | $704.54 Million |
| Expert.ai S.p.A. (3K2) | $66.16 Million | -20.73% | 0.59x | $197.35 Million |
About SAP SE
SAP SE, together with its subsidiaries, provides enterprise application and business solutions worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR, time, payroll, talent and employee e… Read more