Earnings summaries and quarterly performance for SAP.
Research analysts who have asked questions during SAP earnings calls.
Adam Wood
Morgan Stanley
8 questions for SAP
Also covers: ADYYF
FB
Frederic Boulan
Bank of America
8 questions for SAP
MM
Mark Moerdler
Bernstein Research
8 questions for SAP
Also covers: ADBE, MSFT, ORCL
MM
Mohammed Moawalla
Goldman Sachs
8 questions for SAP
CB
Charles Brennan
Jefferies
7 questions for SAP
TO
Toby Ogg
JPMorgan Chase & Co.
7 questions for SAP
JA
Jackson Ader
KeyBanc Capital Markets
6 questions for SAP
Also covers: AKAM, AMPL, ASAN +13 more
MB
Michael Briest
UBS Limited
6 questions for SAP
Ben Castillo-Bernaus
Exane BNP Paribas
4 questions for SAP
JS
Johannes Schaller
Deutsche Bank
4 questions for SAP
MT
Michael Turrin
Wells Fargo
3 questions for SAP
Also covers: ADBE, ADSK, CFLT +29 more
SM
Sven Merkt
Barclays Capital
3 questions for SAP
BB
Ben Bernaus
BNP Paribas
2 questions for SAP
Balajee Tirupati
Citigroup Inc.
1 question for SAP
BC
Ben Castillo
BNP Paribas
1 question for SAP
Keith Bachman
BMO Capital Markets
1 question for SAP
Also covers: ACN, ADBE, CHKP +17 more
Recent press releases and 8-K filings for SAP.
SAP Reports Strong FY2025 Results, Exceeds Profit and Cash Flow Outlook, and Announces New Share Repurchase Program
SAP
Earnings
Share Buyback
Guidance Update
- SAP met its revenue outlook and exceeded its non-IFRS operating profit and free cash flow outlook for fiscal year 2025.
- For FY2025, cloud revenue increased by 23% (26% at constant currencies) to €21.02 billion, and the total cloud backlog grew by 22% (30% at constant currencies) to a record €77.29 billion as of December 31, 2025.
- The company announced a new two-year share repurchase program with a volume of up to €10 billion, scheduled to start in February 2026 and expected to be completed by the end of 2027.
- For 2026, SAP expects cloud revenue of €25.8 – 26.2 billion at constant currencies and approximately €10 billion in free cash flow at actual currencies.
3 days ago
SAP Reports Strong Q4 and Full-Year 2025 Results, Projects Accelerated Revenue Growth and EUR 10 Billion Share Repurchase in 2026
SAP
Earnings
Guidance Update
Share Buyback
- SAP reported strong financial results for fiscal year 2025, with total revenue approaching EUR 37 billion, up 11%, and cloud revenue growing 26% year-on-year. Non-IFRS basic earnings per share increased by 36% to EUR 6.15, and free cash flow reached EUR 8.2 billion, exceeding outlooks for operating profit and cash flow.
- The company's total cloud backlog grew 30% to a record EUR 77 billion, while the current cloud backlog reached EUR 21 billion, up 25%. This current cloud backlog growth was a more pronounced slowdown than anticipated, attributed to a deal mix with larger transformations, longer ramp periods, and geopolitical tensions affecting complex transactions.
- For 2026, SAP expects total revenue growth to accelerate and projects a record free cash flow of approximately EUR 10 billion.
- SAP announced a new two-year share repurchase program of up to EUR 10 billion, scheduled to begin in February. The company also highlighted the commercial impact of AI and the Business Data Cloud, with the latter generating over EUR 2 billion in order entry since its launch.
8 days ago
SAP Reports Strong Q4 and Full-Year 2025 Results, Announces EUR 10 Billion Share Repurchase Program
SAP
Earnings
Guidance Update
Share Buyback
- SAP reported a strong close to 2025, with total revenue approaching EUR 37 billion, up 11%, and non-IFRS basic earnings per share increasing by 36% to €6.15. The company overachieved its outlook for operating profit and cash flow.
- Cloud revenue grew 26% year-on-year in 2025, primarily driven by the Cloud ERP Suite which grew 32% and accounted for 86% of total cloud revenue. The total cloud backlog reached a record EUR 77 billion, up 30%.
- AI is emerging as a meaningful contributor to customer decisions and deal activity, with two-thirds of deals in Q4 2025 involving AI. SAP also announced a new two-year share repurchase program of up to EUR 10 billion, scheduled to start in February.
- For 2026, SAP expects total revenue growth to accelerate and projects a record free cash flow of approximately EUR 10 billion.
8 days ago
SAP Reports Strong 2025 Results, Accelerates Revenue Growth Outlook, and Announces EUR 10 Billion Share Buyback
SAP
Earnings
Guidance Update
Share Buyback
- SAP reported a strong close to 2025, achieving its cloud and software outlook and overachieving operating profit and cash flow outlooks. Full-year total revenue reached EUR 37 billion, up 11%, driven by 26% cloud revenue growth and a 32% increase in Cloud ERP Suite. Non-IFRS basic earnings per share rose 36% to EUR 6.15.
- The total cloud backlog grew 30% to a record EUR 77 billion in 2025. However, current cloud backlog (CCB) growth of 25% was a more significant slowdown than expected, primarily due to larger deals with longer ramp periods and geopolitical tensions.
- For 2026, SAP anticipates accelerated total revenue growth and expects to generate a record free cash flow of approximately EUR 10 billion.
- The company announced a new two-year share repurchase program of up to EUR 10 billion, set to begin in February, demonstrating confidence in its business and commitment to shareholder returns.
- AI and the Business Data Cloud (BDC) are becoming significant commercial contributors, with BDC generating over EUR 2 billion in order entry since its launch.
8 days ago
SAP Reports Strong Q4 and Full-Year 2025 Results, Announces EUR 10 Billion Share Repurchase Program
SAP
Earnings
Guidance Update
Share Buyback
- SAP reported a strong close to 2025, with total cloud backlog reaching EUR 77 billion, up 30%, and outperforming its 2025 financial outlook for cloud revenue, cloud and software revenue, operating profit, and free cash flow.
- For the full year 2025, non-IFRS basic earnings per share increased by 36% to EUR 6.15, and free cash flow was EUR 8.2 billion.
- The company announced a new two-year share repurchase program of up to EUR 10 billion, set to begin in February.
- SAP Business AI demonstrated strong adoption, with over two-thirds of Q4 cloud order entry including Business AI and 90% of the 50 largest deals in Q4 incorporating AI or SAP Business Data Cloud.
- Looking to 2026, SAP expects to generate a record free cash flow of approximately EUR 10 billion and projects total revenue growth to accelerate through 2027.
8 days ago
SAP Reports Strong Q4 and Full Year 2025 Results, Announces Share Buyback
SAP
Earnings
Share Buyback
New Projects/Investments
- SAP reported strong full-year 2025 results, with total revenue approaching €37 billion, up 11%, and cloud revenue growing 26% year-over-year. Non-IFRS basic earnings per share increased by 36% to €6.15.
- The total cloud backlog grew 30% to €77 billion. However, current cloud backlog growth was 25% to €21 million due to a higher share of large deals with longer ramp periods and government contracts not fully reflected in the current cloud backlog.
- AI is a significant commercial driver, with 90% of Q4 deals including AI and 60% of cloud customers actively using SAP's AI. SAP targets €2 billion in cost efficiencies by the end of 2028 through internal AI usage.
- The company announced a new two-year share repurchase program of up to €10 billion, scheduled to begin in February.
8 days ago
SAP Reports Strong Q4 and Full Year 2025 Results, Driven by Cloud and AI Momentum
SAP
Earnings
Guidance Update
Share Buyback
- SAP reported strong Q4 and full year 2025 financial results, achieving its outlook for cloud and software revenue and beating operating profit and free cash flow expectations. Total revenue for the full year approached EUR 37 billion, up 11%, with non-IFRS basic earnings per share increasing 36% to EUR 6.15.
- The company's cloud transformation showed significant momentum, with cloud revenue growing 26% in 2025 and the Cloud ERP Suite increasing 32%. The total cloud backlog grew 30% to EUR 77 billion.
- Business AI is a major growth driver, with more than two-thirds of Q4 cloud order entry including business AI and 90% of the 50 largest deals in Q4 incorporating AI or SAP Business Data Cloud. SAP also aims to achieve EUR 2 billion in cost efficiencies by the end of 2028 through internal AI usage.
- For 2026, SAP expects to generate a record free cash flow of approximately EUR 10 billion and announced a new two-year share repurchase program of up to EUR 10 billion starting in February. The company anticipates total revenue growth to accelerate through 2027.
8 days ago
SAP Reports Strong Q4 and Full-Year 2025 Results, Announces Share Repurchase Program
SAP
Earnings
Guidance Update
Share Buyback
- SAP reported a strong Q4 2025 and full-year 2025 performance, beating its operating profit and free cash flow outlooks for the year. Total revenue for the full year approached EUR 37 billion, up 11%, and cloud revenue grew 26% year-over-year.
- The company's total cloud backlog grew 30% to a record EUR 77 billion. However, current cloud backlog (CCB) growth moderated to 25% in Q4 2025, a more pronounced slowdown than anticipated, primarily due to a deal mix weighted towards larger transformations with longer ramp periods and government deals not reflected in CCB.
- SAP Business AI showed strong momentum, with more than two-thirds of Q4 cloud order entry including business AI, and 90% of the 50 largest deals in Q4 included AI or SAP Business Data Cloud. The SAP Business Data Cloud secured around EUR 2 billion in total contract value since its launch.
- For 2026, SAP expects to generate a record free cash flow of approximately EUR 10 billion and anticipates continued total revenue growth acceleration through 2027.
- SAP announced a new two-year share repurchase program of up to EUR 10 billion, scheduled to start in February.
8 days ago
SAP Reports Strong FY2025 Results, Announces Share Repurchase Program, and Provides 2026 Outlook
SAP
Earnings
Guidance Update
Share Buyback
- SAP reported strong financial results for FY2025, meeting its revenue outlook and exceeding its non-IFRS operating profit and free cash flow outlook.
- For FY2025, cloud revenue increased by 23% (up 26% at constant currencies) to €21.02 billion, and non-IFRS operating profit grew by 28% (up 31% at constant currencies) to €10.42 billion.
- The company's total cloud backlog reached a record €77.29 billion at the end of FY2025, representing a 30% increase at constant currencies.
- SAP announced a new two-year share repurchase program with a volume of up to €10 billion, scheduled to start in February 2026.
- For 2026, SAP expects cloud revenue of €25.8 – 26.2 billion (up 23% to 25% at constant currencies) and non-IFRS operating profit of €11.9 – 12.3 billion (up 14% to 18% at constant currencies).
8 days ago
SAP Discusses AI Strategy, Monetization, and Mid-Market Growth
SAP
New Projects/Investments
Revenue Acceleration/Inflection
Product Launch
- SAP views AI as its future business, deeply embedding it into business processes and leveraging its Business Technology Platform (BTP) and Business Data Cloud (BDC) to combine applications, data, and AI for customer value.
- The company utilizes a hybrid monetization strategy for AI, blending a consumption-based "AI unit concept" with per-user metering for specific agentic tools to offer both flexibility and predictability to customers.
- Over 50% of SAP customers are incorporating AI into their transactions, with significant return on investment (ROI) noted in areas such as supply chain optimization.
- SAP is targeting the mid-market for substantial growth, as this segment represents 60% of its total addressable market (TAM) but currently contributes only 30% of its top line.
Dec 3, 2025, 2:30 PM
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