Balance Sheet SAP SE

Equities

SAP

DE0007164600

Software

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09-05	SAP SE: A matter of interpretation
09-03	German Shares Retreat Amid Lingering Concerns for Eurozone Economy	MT

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Published financial data: SAP SE

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	27.55B	27.34B	27.84B	30.87B	31.21B
Other Revenues, Total	-1M	-	-	-	-
Total Revenues	27.55B	27.34B	27.84B	30.87B	31.21B
Cost of Goods Sold, Total	8.36B	7.88B	7.72B	8.7B	8.6B
Gross Profit	19.2B	19.45B	20.12B	22.17B	22.6B
Selling General & Admin Expenses, Total	9.32B	8.46B	9.55B	10.58B	9.77B
R&D Expenses	4.29B	4.45B	5.18B	6.16B	6.32B
Other Operating Expenses	-18M	110M	34M	186M	16M
Other Operating Expenses, Total	13.6B	13.03B	14.76B	16.92B	16.1B
Operating Income	5.6B	6.43B	5.36B	5.24B	6.5B
Interest Expense, Total	-362M	-255M	-210M	-277M	-639M
Interest And Investment Income	75M	113M	-	-	376M
Net Interest Expenses	-287M	-142M	-210M	-277M	-263M
Currency Exchange Gains (Loss)	-51M	-154M	49M	-151M	46M
Other Non Operating Income (Expenses)	19M	-122M	-543M	-903M	-82M
EBT, Excl. Unusual Items	5.28B	6.01B	4.65B	3.91B	6.2B
Restructuring Charges	-1.13B	3M	-157M	-138M	-215M
Merger & Related Restructuring Charges	-	-	-622M	-611M	-345M
Gain (Loss) On Sale Of Investments	444M	1.02B	2.9B	-249M	-145M
Gain (Loss) On Sale Of Assets	-	194M	77M	175M	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-155M
EBT, Incl. Unusual Items	4.6B	7.22B	6.85B	3.09B	5.34B
Income Tax Expense	1.23B	1.94B	1.47B	1.38B	1.74B
Earnings From Continuing Operations	3.37B	5.28B	5.38B	1.71B	3.6B
Earnings Of Discontinued Operations	-	-	-	-	2.36B
Net Income to Company	3.37B	5.28B	5.38B	1.71B	5.96B
Minority Interest	-50M	-138M	-121M	576M	175M
Net Income - (IS)	3.32B	5.14B	5.26B	2.28B	6.14B
Net Income to Common Incl Extra Items	3.32B	5.14B	5.26B	2.28B	6.14B
Net Income to Common Excl. Extra Items	3.32B	5.14B	5.26B	2.28B	3.78B
Per Share Items
Net EPS - Basic	2.78	4.35	4.45	1.95	5.26
Basic EPS - Continuing Operations	2.78	4.35	4.45	1.95	3.24
Basic Weighted Average Shares Outstanding	1.19B	1.18B	1.18B	1.17B	1.17B
Net EPS - Diluted	2.78	4.35	4.45	1.94	5.2
Diluted EPS - Continuing Operations	2.78	4.35	4.45	1.94	3.2
Diluted Weighted Average Shares Outstanding	1.19B	1.18B	1.18B	1.18B	1.18B
Normalized Basic EPS	2.72	3.06	2.36	2.58	3.47
Normalized Diluted EPS	2.72	3.06	2.36	2.57	3.43
Dividend Per Share	1.58	1.85	1.95	2.05	2.2
Payout Ratio	53.9	36.23	41.51	125.44	39.01
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	6.71B	7.56B	6.47B	6.41B	7.33B
EBITA	6B	6.85B	5.77B	5.7B	6.81B
EBIT	5.6B	6.43B	5.36B	5.24B	6.5B
EBITDAR	-	-	-	-	-
Total Revenues (As Reported)	27.55B	27.34B	27.84B	30.87B	31.21B
Effective Tax Rate - (Ratio)	26.67	26.84	21.48	44.72	32.59
Current Domestic Taxes	625M	895M	608M	539M	596M
Current Foreign Taxes	1.15B	1B	1.36B	1.2B	1.36B
Total Current Taxes	1.78B	1.9B	1.97B	1.73B	1.95B
Deferred Domestic Taxes	-3M	-38M	109M	89M	74M
Deferred Foreign Taxes	-549M	80M	-606M	-441M	-285M
Total Deferred Taxes	-552M	42M	-497M	-352M	-211M
Normalized Net Income	3.25B	3.62B	2.79B	3.02B	4.05B
Interest on Long-Term Debt	55M	-	-	-	-
Non-Cash Pension Expense	55M	93M	62M	22M	57M
Supplemental Operating Expense Items
Selling and Marketing Expenses	7.69B	7.11B	7.14B	8.52B	8.42B
General and Administrative Expenses	1.63B	1.36B	2.41B	2.06B	1.35B
Research And Development Expense From Footnotes	4.29B	4.45B	5.38B	6.38B	6.4B
Net Rental Expense, Total	-	-	-	-	-
Imputed Operating Lease Interest Expense	-	-	-	-	-
Imputed Operating Lease Depreciation	-	-	-	-	-
Stock-Based Comp., COGS (Total)	384M	270M	395M	419M	507M
Stock-Based Comp., R&D Exp. (Total)	429M	296M	513M	625M	703M
Stock-Based Comp., S&M Exp. (Total)	562M	360M	655M	773M	834M
Stock-Based Comp., G&A Exp. (Total)	461M	157M	1.23B	798M	175M
Stock-Based Comp., Other (Total)	-	1M	1M	-	1M
Total Stock-Based Compensation	1.84B	1.08B	2.79B	2.62B	2.22B

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	5.31B	5.31B	8.9B	9.01B	8.12B
Short Term Investments	105M	1.56B	2.68B	689M	3.16B
Total Cash And Short Term Investments	5.42B	6.87B	11.58B	9.7B	11.28B
Accounts Receivable, Total	7.56B	6.2B	5.89B	5.78B	5.89B
Other Receivables	1.08B	814M	1.09B	985M	1.08B
Notes Receivable	97M	80M	76M	101M	101M
Total Receivables	8.74B	7.09B	7.05B	6.87B	7.07B
Prepaid Expenses	427M	495M	588M	828M	844M
Other Current Assets, Total	631M	616M	826M	1.13B	1.38B
Total Current Assets	15.21B	15.07B	20.04B	18.52B	20.57B
Net Property Plant And Equipment	5.46B	4.94B	4.9B	4.79B	4.11B
Long-term Investments	2.04B	3.2B	5.97B	5.29B	5.1B
Goodwill	29.16B	27.56B	31.09B	33.11B	29.09B
Other Intangibles, Total	4.49B	3.78B	3.97B	3.84B	2.5B
Accounts Receivable Long-Term	21M	34M	1M	-	5M
Loans Receivable Long-Term	117M	151M	107M	129M	192M
Deferred Tax Assets Long-Term	1.25B	1.17B	1.78B	2.06B	2.19B
Deferred Charges Long-Term	1.44B	1.69B	2.33B	3.02B	3.15B
Other Long-Term Assets, Total	1.03B	873M	982M	1.4B	1.41B
Total Assets	60.22B	58.47B	71.17B	72.16B	68.34B
Liabilities
Accounts Payable, Total	1.58B	1.21B	1.58B	2.15B	1.78B
Accrued Expenses, Total	4.84B	4.64B	5.2B	4.82B	5.65B
Short-term Borrowings	1.1B	931M	931M	928M	-
Current Portion of Long-Term Debt	1.43B	552M	2.83B	3.06B	1.14B
Current Portion of Leases	389M	380M	407M	349M	294M
Current Income Taxes Payable	255M	414M	304M	283M	266M
Unearned Revenue Current, Total	4.27B	4.15B	4.43B	5.31B	4.98B
Other Current Liabilities	601M	559M	451M	564M	533M
Total Current Liabilities	14.46B	12.84B	16.14B	17.45B	14.64B
Long-Term Debt	11.09B	11.86B	9.24B	6.96B	6.03B
Long-Term Leases	1.81B	1.74B	1.74B	1.79B	1.33B
Unearned Revenue Non Current	89M	36M	13M	33M	33M
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	82M	158M	291M	241M	265M
Other Non Current Liabilities	1.86B	1.91B	2.23B	2.83B	2.64B
Total Liabilities	29.39B	28.54B	29.65B	29.31B	24.93B
Common Stock, Total	1.23B	1.23B	1.23B	1.23B	1.23B
Additional Paid In Capital	545M	545M	1.92B	3.08B	1.84B
Retained Earnings	28.78B	32.03B	37.02B	36.42B	42.46B
Treasury Stock	-1.58B	-3.07B	-3.07B	-4.34B	-4.74B
Comprehensive Income and Other	1.77B	-1.01B	1.76B	3.8B	2.37B
Total Common Equity	30.75B	29.72B	38.85B	40.19B	43.16B
Minority Interest	76M	211M	2.67B	2.66B	249M
Total Equity	30.82B	29.93B	41.52B	42.85B	43.41B
Total Liabilities And Equity	60.22B	58.47B	71.17B	72.16B	68.34B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.19B	1.18B	1.18B	1.17B	1.17B
ECS Total Common Shares Outstanding	1.19B	1.18B	1.18B	1.17B	1.17B
Book Value / Share	25.76	25.19	32.94	34.43	36.97
Tangible Book Value	-2.91B	-1.63B	3.8B	3.24B	11.56B
Tangible Book Value Per Share	-2.44	-1.38	3.22	2.78	9.91
Total Debt	15.82B	15.46B	15.15B	13.08B	8.79B
Net Debt	10.4B	8.6B	3.57B	3.39B	-2.49B
Debt Equivalent of Unfunded Proj. Benefit Obligation	230M	241M	225M	114M	169M
Debt Equivalent Oper. Leases	-	-	-	-	-
Minority Interest, Total (Incl. Fin. Div)	76M	211M	2.67B	2.66B	249M
Equity Method Investments, Total	16M	14M	155M	151M	135M
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	100K	102K	107K	112K	108K
Order Backlog	35.5B	7.15B	9.45B	12.03B	13.74B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	3.32B	5.14B	5.26B	2.28B	6.14B
Depreciation & Amortization - CF	1.11B	1.11B	1.1B	1.13B	845M
Amortization of Goodwill and Intangible Assets - (CF)	395M	420M	412M	458M	305M
Depreciation & Amortization, Total	1.51B	1.53B	1.51B	1.59B	1.15B
Amortization of Deferred Charges, Total - (CF)	365M	299M	266M	308M	223M
(Gain) Loss on Sale of Investments - (CF)	-596M	-1.02B	-2.41B	1.19B	145M
Stock-Based Compensation (CF)	578M	-226M	1.67B	1.43B	1.13B
Net Cash From Discontinued Operations	-	-	-	-	122M
Other Operating Activities, Total	-953M	800M	-341M	-934M	-2.55B
Change In Accounts Receivable	-1.47B	821M	414M	149M	-393M
Change In Accounts Payable	328M	293M	475M	163M	633M
Change in Unearned Revenues	984M	128M	100M	685M	443M
Change in Other Net Operating Assets	-569M	-583M	-717M	-1.22B	-710M
Cash from Operations	3.5B	7.19B	6.22B	5.65B	6.33B
Capital Expenditure	-817M	-816M	-800M	-874M	-785M
Sale of Property, Plant, and Equipment	71M	88M	91M	60M	99M
Cash Acquisitions	-6.22B	-662M	-1.14B	-679M	-1.17B
Divestitures	61M	203M	-72M	289M	-
Investment in Marketable and Equity Securities, Total	-122M	-1.8B	-1.14B	1.87B	-2.66B
Other Investing Activities, Total	1M	1M	-1M	1M	5.42B
Cash from Investing	-7.02B	-2.99B	-3.06B	667M	906M
Long-Term Debt Issued, Total	3.62B	2.13B	1.68B	158M	13M
Total Debt Issued	3.62B	2.13B	1.68B	158M	13M
Long-Term Debt Repaid, Total	-1.71B	-2.81B	-2.33B	-1.87B	-4.41B
Total Debt Repaid	-1.71B	-2.81B	-2.33B	-1.87B	-4.41B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-	-1.49B	-	-1.78B	-949M
Common Dividends Paid	-1.79B	-1.86B	-2.18B	-2.86B	-2.4B
Common & Preferred Stock Dividends Paid	-1.79B	-1.86B	-2.18B	-2.86B	-2.4B
Other Financing Activities, Total	-18M	35M	2.77B	21M	10M
Cash from Financing	102M	-4B	-56M	-6.34B	-7.73B
Foreign Exchange Rate Adjustments	110M	-214M	484M	134M	-388M
Miscellaneous Cash Flow Adjustments	-	-1M	-1M	-2M	0
Net Change in Cash	-3.31B	-4M	3.59B	109M	-884M
Supplemental Items
Cash Interest Paid	341M	244M	202M	248M	393M
Cash Income Tax Paid (Refund)	2.33B	1.19B	2.06B	1.68B	2.16B
Levered Free Cash Flow	5.86B	6.89B	7.72B	7.58B	6.09B
Unlevered Free Cash Flow	6.09B	7.05B	7.85B	7.75B	6.49B
Change In Net Working Capital	303M	-933M	-729M	-837M	380M
Net Debt Issued / Repaid	1.91B	-676M	-646M	-1.71B	-4.4B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.27	6.77	5.17	4.57	5.78
Return on Total Capital	8.07	8.73	6.56	5.82	7.52
Return On Equity %	11.29	17.39	15.05	4.05	8.35
Return on Common Equity	11.15	17.02	15.33	5.78	9.06
Margin Analysis
Gross Profit Margin %	69.68	71.16	72.26	71.8	72.43
SG&A Margin	33.83	30.95	34.29	34.28	31.3
EBITDA Margin %	24.36	27.66	23.23	20.77	23.48
EBITA Margin %	21.77	25.05	20.72	18.47	21.81
EBIT Margin %	20.33	23.51	19.24	16.99	20.83
Income From Continuing Operations Margin %	12.23	19.32	19.31	5.53	11.54
Net Income Margin %	12.05	18.82	18.88	7.4	19.67
Net Avail. For Common Margin %	12.05	18.82	18.88	7.4	12.1
Normalized Net Income Margin	11.8	13.23	10.01