SAP SE (ETR:SAP)
Germany · Delayed Price · Currency is EUR 208.90
-2.30 (-1.09%)
Oct 29, 2026, 5:38 PM CET
SAP SE Cash Flow Statement
Financials in millions EUR. Fiscal year is January - December.
Millions EUR. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 8,040 | 7,161 | 3,124 | 6,139 | 2,284 | 5,256 |
Depreciation & Amortization | 1,059 | 1,091 | 1,052 | 1,373 | 1,569 | 1,537 |
Other Amortization | 220 | 220 | 228 | - | - | - |
Loss (Gain) From Sale of Investments | -764 | -764 | -462 | 144 | 1,194 | -2,413 |
Stock-Based Compensation | 977 | 878 | 1,103 | 1,129 | 251 | 279 |
Other Operating Activities | 491 | 1,234 | -461 | -2,625 | 521 | 1,310 |
Change in Accounts Receivable | -1,209 | -388 | -247 | -393 | 196 | 497 |
Change in Accounts Payable | 804 | -308 | 603 | 633 | 154 | 429 |
Change in Unearned Revenue | 1,215 | 1,336 | 869 | 443 | 643 | -59 |
Change in Other Net Operating Assets | -950 | -1,304 | -602 | -710 | -1,136 | -654 |
Operating Cash Flow | 9,883 | 9,156 | 5,207 | 6,246 | 5,647 | 6,223 |
Operating Cash Flow Growth | 35.85% | 75.84% | -16.63% | 10.61% | -9.26% | -13.50% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -701 | -739 | -797 | -785 | -877 | -701 |
Sale of Property, Plant & Equipment | 96 | 121 | 122 | 99 | 95 | 89 |
Cash Acquisitions | -1,831 | -702 | -1,114 | -1,168 | -679 | -1,032 |
Divestitures | - | - | - | - | 289 | -72 |
Investment in Securities | -455 | -66 | 1,132 | -2,659 | 1,870 | -1,139 |
Other Investing Activities | 341 | 421 | 564 | 5,902 | -31 | -208 |
Investing Cash Flow | -2,550 | -965 | -93 | 1,389 | 667 | -3,063 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | 2 | 2,767 | 13 | 158 | 1,680 |
Long-Term Debt Repaid | - | -3,490 | -1,495 | -4,413 | -1,855 | -2,327 |
Lease Payments | -277 | -299 | -310 | -332 | -410 | -375 |
Net Debt Issued (Repaid) | 1,023 | -3,488 | 1,272 | -4,400 | -1,697 | -647 |
Repurchase of Common Stock | -4,124 | -1,937 | -2,106 | -949 | -1,500 | - |
Common Dividends Paid | -2,883 | -2,743 | -2,565 | -2,395 | -2,280 | -2,182 |
Other Financing Activities | -546 | -577 | -562 | -387 | -275 | 2,773 |
Financing Cash Flow | -6,530 | -8,745 | -3,961 | -8,131 | -6,337 | -56 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | 8 | -836 | 333 | -388 | 134 | 484 |
Miscellaneous Cash Flow Adjustments | -1 | 1 | -1 | - | -1 | -1 |
Net Cash Flow | 810 | -1,389 | 1,485 | -884 | 110 | 3,587 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 9,182 | 8,417 | 4,410 | 5,461 | 4,770 | 5,522 |
Free Cash Flow Growth | 42.42% | 90.86% | -19.25% | 14.49% | -13.62% | -13.42% |
Free Cash Flow Margin | 23.31% | 22.87% | 12.90% | 17.50% | 16.16% | 20.49% |
Free Cash Flow Per Share | 7.88 | 7.16 | 3.74 | 4.63 | 4.06 | 4.68 |
Levered Free Cash Flow | 10,039 | 8,479 | 8,546 | 5,785 | 6,572 | 6,717 |
Unlevered Free Cash Flow | 10,374 | 8,787 | 8,887 | 6,185 | 6,742 | 6,846 |
Free Cash Flow After Leases | 8,905 | 8,118 | 4,100 | 5,129 | 4,360 | 5,147 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 511 | 574 | 550 | 393 | 244 | 198 |
Cash Income Tax Paid | 2,981 | 2,198 | 2,277 | 2,161 | 1,642 | 2,047 |
Change in Working Capital | -140 | -664 | 623 | -27 | -143 | 213 |