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SAP AG (DE:SAPA)
FRANKFURT:SAPA
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.69Last Year’s EPS
1.41Same Quarter Last Year
Strong Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call communicated solid execution and financial strength: strong cloud revenue growth (26%), expanding cloud margins (75%), record-sized cloud backlog (EUR 77bn, +30%), improved profitability (non-IFRS operating profit EUR 10.4bn) and robust free cash flow (≈EUR 8.2bn) with an aggressive EUR 10bn buyback and a confident 2026 guidance (~EUR 10bn FCF). Headwinds include a more pronounced-than-expected moderation in current cloud backlog growth, a 27% decline in software license revenue, geopolitical/regulatory complexity prolonging deal cycles, and one-off charges (workforce transformation ≈EUR 100m; Teradata litigation ≈USD 200m). On balance the positive operational and financial momentum, backlog scale and AI/product progress outweigh the listed challenges.Company Guidance
Record Cloud Backlog and Strong Ordering
Total cloud backlog grew 30% to EUR 77 billion and current cloud backlog reached EUR 21 billion, up 25%, providing multi-year revenue visibility (average contract duration ~4 years). Q4 was the company's best bookings quarter and large deals (>EUR 5m) contributed a record 71% to cloud order entry in Q4.
Robust Cloud Revenue and Cloud ERP Growth
Cloud revenue grew 26% year-on-year in 2025. Cloud ERP suite revenue increased 32% (34% in USD terms), and now accounts for 86% of total cloud revenue, underscoring cloud ERP as a key engine of growth.
Meaningful Profitability and EPS Improvement
Non-IFRS operating profit for the full year rose to EUR 10.4 billion; IFRS operating profit for Q4 increased 27% to EUR 2.6 billion. Non-IFRS basic EPS increased 36% to EUR 6.15 for fiscal 2025.
Strong Cash Generation and Capital Returns
Free cash flow for 2025 was at the high end of the revised outlook at around EUR 8.2 billion. Management expects record free cash flow of ~EUR 10 billion in 2026 and announced a new EUR 10 billion, 2-year share repurchase program starting in February.
Improving Cloud Margins and Gross Profit
Non-IFRS cloud gross margin expanded by 1.6 percentage points to 75%, driving cloud gross profit up 29% year-on-year, reflecting improved unit economics in cloud services.
Business Data Cloud Early Commercial Success
Business Data Cloud (BDC) produced over EUR 2 billion of order entry since launch (first 12 months), highlighting early commercial traction for SAP's data/harmonization layer critical for AI use cases.
Product and AI Momentum with Strategic Wins
Notable customer wins (e.g., H&M and Fresenius/Avelios) showcased AI-embedded applications and industry-specific AI agents; management highlighted lower churn, stable discounts and the strategic role of AI, agent orchestration and extensibility in winning deals.
DE:SAPA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:SAPA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 29, 2026 | €198.00 | €166.00 | -16.16% |
Oct 22, 2025 | €238.00 | €238.00 | 0.00% |
Jul 22, 2025 | €260.00 | €248.00 | -4.62% |
Apr 22, 2025 | €218.59 | €238.46 | +9.09% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does SAP AG (DE:SAPA) report earnings?
SAP AG (DE:SAPA) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).
What is SAP AG (DE:SAPA) earnings time?
SAP AG (DE:SAPA) earnings time is at Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of SAP AG stock?
The P/E ratio of SAP AG is N/A.
What is DE:SAPA EPS forecast?
DE:SAPA EPS forecast for the fiscal quarter 2026 (Q1) is 1.69.
