SAP SE (WSE:SAP)

SAP SE Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	7,326	3,150	5,964	1,708	5,376
Depreciation & Amortization	1,311	1,280	1,373	1,569	1,537
Stock-Based Compensation	878	1,103	1,129	251	279
Other Adjustments	163	-908	-2,238	2,366	-1,232
Change in Receivables	-388	-247	-393	196	497
Changes in Other Operating Activities	-287	840	376	-416	-275
Operating Cash Flow	9,156	5,207	6,246	5,647	6,182
Operating Cash Flow Growth	75.84%	-16.63%	10.61%	-8.65%	-14.07%
Capital Expenditures	-739	-797	-785	-877	-701
Sale of Property, Plant & Equipment	121	122	99	95	89
Purchases of Investments	-5,845	-6,401	-3,566	-2,320	-4,368
Proceeds from Sale of Investments	5,779	7,533	907	4,190	3,229
Payments for Business Acquisitions	-702	-1,114	-1,168	-679	-1,032
Proceeds from Business Divestments	0	0	-91	289	-72
Investing Cash Flow	-965	-93	1,389	667	-2,855
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
Net Long-Term Debt Issued (Repaid)	-3,488	1,272	-4,400	-1,697	-647
Repurchase of Common Stock	-1,937	-2,106	-949	-1,500	0
Net Common Stock Issued (Repurchased)	-1,937	-2,106	-949	-1,500	-
Common Dividends Paid	-2,743	-2,565	-2,395	-2,865	-2,182
Other Financing Activities	-2	-12	-13	-12	-56
Financing Cash Flow	-8,745	-3,961	-8,131	-6,337	-2,885
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-836	333	-388	134	484
Net Cash Flow	-1,390	1,485	-883	109	3,587
Free Cash Flow	8,417	4,410	5,461	4,770	5,481
Free Cash Flow Growth	90.86%	-19.25%	14.49%	-12.97%	-14.06%
FCF Margin	22.87%	12.90%	17.50%	15.45%	20.34%
Free Cash Flow Per Share	7.16	3.74	4.63	4.06	4.64
Levered Free Cash Flow	11,119	8,843	6,337	863	11,599
Unlevered Free Cash Flow	7,145	4,408	4,873	2,857	5,621

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.