FSE$SAP
SAP SE · Q4 2026 earnings
Q4 2026 earnings · · Before market open · Investor relations
Briefing
SAP Q4 2026 — €36.80B revenue, 6.14 EPS
Our performance in 2025 is the direct result of our holistic transformation. SAP SE reported Q4 2026 results. Diluted EPS came in at 6.14. Headline numbers extracted from the Form 6-K press release; narrative is light because this row was processed without an LLM call.
- Revenue: €36.80B.
- Diluted EPS: 6.14.
- Operating income: €1.
- Gross profit: €27K.
Headline financials
Revenue & EPS history
SAP · Revenue · Quarterly
$36.8B
Revenue by segment
SAP · $10.9B total across 3 segments · Q3 2025
- Cloud$5.29B—48.4%
- Cloud ERP Suite$4.59B—41.9%
- Services$1.06B—9.7%
Forward guidance
SAP expects continued growth in cloud revenue and profitability in 2026, supported by strong customer adoption of cloud solutions and disciplined operational execution.
Tailwinds
- Cloud revenue expected to grow to €25.8–26.2B in 2026
- Cloud and software revenue guided to €36.3–36.8B
- Non-IFRS operating profit forecasted at €11.9–12.3B
- Free cash flow expected around €10B
- Stable employee engagement and culture KPIs projected
Headwinds
- Cloud backlog growth expected to decelerate slightly
- Currency fluctuations likely to impact reported growth
- Software support revenue decline to accelerate
- Higher operating expenses projected through 2027
- Tax rate volatility from ongoing litigation and restructuring
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2026
-0.3%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.2%
Avg return
30 days after
54%
35 / 65 earnings
Positive
+12.4%
Q1 2019
Best reaction
-23.2%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | -3.3% | +8.7% | |
| Q4 2026 | -16.2% | -0.3% | -12.8% | |
| Q3 2025 | +1.5% | -2.2% | -14.3% | |
| Q2 2025 | -4.4% | -7.8% | -11.5% | |
| Q1 2025 | +7.6% | +13.1% | +16.8% | |
| Q4 2024 | +0.4% | +0.2% | -0.4% | |
| Q3 2024 | +0.8% | +3.1% | +2.0% | |
| Q2 2024 | +8.9% | +8.2% | +11.0% | |
| Q1 2024 | +7.0% | +5.9% | +10.3% | |
| Q4 2023 | +7.0% | +6.4% | +11.3% | |
| Q3 2023 | +2.2% | +1.3% | +14.9% | |
| Q2 2023 | -6.3% | -7.3% | -5.3% | |
| Q1 2023 | +4.5% | +5.1% | +5.8% | |
| Q4 2022 | -2.5% | +2.0% | -2.6% | |
| Q3 2022 | +7.4% | +7.4% | +20.7% | |
| Q2 2022 | +1.5% | -2.2% | -0.8% | |
| Q1 2022 | -2.5% | -6.4% | -8.4% | |
| Q4 2021 | -7.8% | -3.5% | -13.0% | |
| Q3 2021 | -1.3% | +1.4% | -1.9% | |
| Q2 2021 | -3.3% | -3.8% | +2.6% | |
| Q1 2021 | +1.4% | +0.5% | -1.4% | |
| Q4 2020 | -0.7% | +0.1% | -5.4% | |
| Q3 2020 | -23.2% | -28.6% | -22.0% | |
| Q2 2020 | +1.1% | +0.4% | +6.2% | |
| Q1 2020 | -4.5% | -5.0% | -5.2% | |
| Q4 2019 | -3.4% | -4.0% | -8.4% | |
| Q3 2019 | +2.1% | +2.1% | +4.5% | |
| Q2 2019 | -7.1% | -6.4% | -11.4% | |
| Q1 2019 | +12.4% | +12.4% | +11.1% | |
| Q4 2018 | -4.1% | -2.8% | +0.2% | |
| Q3 2018 | -4.8% | -3.0% | -6.5% | |
| Q2 2018 | -4.6% | -3.8% | -4.1% | |
| Q1 2018 | +2.7% | +5.1% | +7.6% | |
| Q4 2017 | -0.3% | -3.9% | -10.2% | |
| Q3 2017 | +0.2% | +0.5% | +1.8% | |
| Q2 2017 | -1.2% | -1.6% | -0.7% | |
| Q1 2017 | -1.1% | -1.2% | +5.4% | |
| Q4 2016 | +2.2% | +2.0% | +5.4% | |
| Q3 2016 | +1.2% | +0.5% | -4.7% | |
| Q2 2016 | +6.2% | +6.8% | +11.2% | |
| Q1 2016 | -0.6% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | +1.9% | — | — | |
| Q2 2015 | -2.6% | — | — | |
| Q1 2015 | +2.9% | — | — | |
| Q4 2014 | -4.5% | — | — | |
| Q3 2014 | -1.6% | — | — | |
| Q2 2014 | +0.6% | — | — | |
| Q1 2014 | +1.6% | — | — | |
| Q4 2013 | -2.0% | — | — | |
| Q3 2013 | -0.7% | — | — | |
| Q2 2013 | -2.3% | — | — | |
| Q1 2013 | -0.5% | — | — | |
| Q4 2012 | +3.8% | — | — | |
| Q3 2012 | -1.0% | — | — | |
| Q2 2012 | +1.1% | — | — | |
| Q1 2012 | +1.6% | — | — | |
| Q4 2011 | +2.8% | — | — | |
| Q3 2011 | -7.2% | — | — | |
| Q2 2011 | +2.0% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q4 2010 | +1.9% | — | — | |
| Q3 2010 | +1.3% | — | — | |
| Q2 2010 | +2.6% | — | — | |
| Q1 2010 | +1.7% | — | — | |
| Q3 2009 | — | — | — | |
| Q4 2009 | — | — | — |
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