SAP SE (SAP)

SAP SE Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	7,500	7,326	3,150	5,964	1,708	5,376
Depreciation & Amortization	1,282	1,311	1,280	1,373	1,569	1,537
Stock-Based Compensation	1,506	1,695	2,385	2,220	1,431	1,335
Other Adjustments	-508	-654	-2,190	-3,329	1,186	-2,288
Change in Receivables	-2,240	-388	-247	-393	196	497
Changes in Accounts Payable	-333.5	-308	603	633	154	429
Changes in Unearned Revenue	3,178	1,336	869	443	643	-59
Changes in Other Operating Activities	-1,052	-1,315	-632	-587	-1,242	-604
Operating Cash Flow	9,491	9,156	5,207	6,246	5,647	6,223
Operating Cash Flow Growth	287.37%	75.84%	-16.63%	10.61%	-9.26%	-13.50%
Capital Expenditures	-798	-739	-797	-785	-877	-701
Sale of Property, Plant & Equipment	114	121	122	99	95	89
Purchases of Investments	-4,746	-5,845	-6,401	-3,566	-2,320	-4,368
Proceeds from Sale of Investments	5,907	5,779	7,533	907	4,190	3,229
Payments for Business Acquisitions	-701.5	-702	-1,114	-1,168	-679	-1,032
Proceeds from Business Divestments	-	0	0	-91	289	-72
Other Investing Activities	-	0	0	5,523	-32	-208
Investing Cash Flow	192.5	-965	-93	1,389	667	-3,063
Long-Term Debt Issued	1	2	2,767	13	158	1,680
Long-Term Debt Repaid	-2,766	-3,191	-1,185	-4,081	-1,445	-1,952
Net Long-Term Debt Issued (Repaid)	-2,765	-3,189	1,582	-4,068	-1,287	-272
Repurchase of Common Stock	-3,400	-1,937	-2,106	-949	-1,500	0
Net Common Stock Issued (Repurchased)	-3,400	-1,937	-2,106	-949	-1,500	0
Common Dividends Paid	-1,379	-2,745	-2,566	-2,408	-2,877	-2,236
Other Financing Activities	-289	-299	-321	-312	-673	2,451
Financing Cash Flow	-8,407	-8,745	-3,961	-8,131	-6,337	-56
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-404	-836	333	-388	134	484
Net Cash Flow	872	-1,390	1,485	-883	109	3,587
Free Cash Flow	8,693	8,417	4,410	5,461	4,770	5,522
Free Cash Flow Growth	3.27%	90.86%	-19.25%	14.49%	-13.62%	-13.42%
FCF Margin	23.28%	22.87%	12.90%	17.50%	16.16%	20.49%
Free Cash Flow Per Share	7.42	7.16	3.74	4.63	4.06	4.68
Levered Free Cash Flow	6,990	4,257	6,029	643	2,237	6,759
Unlevered Free Cash Flow	9,547	7,145	4,408	4,986	4,266	5,662

Updated Apr 23, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q