AlphaCharge
$SAP Some of the negative comments on $SAP are hard to understand when you look at the numbers.
At its ATH near €280, SAP reported roughly €3.15bn in IFRS net profit for 2024. Today the stock trades around €190, while trailing 12-month net profit is close to €7.9bn. Q2 2026 alone delivered about €2.21bn in net income versus roughly €1.75bn a year earlier.
So $SAP is about 32% below its ATH while earnings are dramatically higher.
Compared with major software names like $MSFT, $ORCL, $CRM and $NOW, SAP’s valuation has compressed heavily despite strong cloud growth and improving profitability.
In my view, $SAP has substantial catch-up potential from current levels.
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