PerpEquities

Equity · Technology

SAP SE (SAP) perpetual futures

SAP perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade SAPUSDT.

SAP SE provides enterprise software including ERP, HR, spend management, and business technology platforms, founded in 1972 in Germany.

$217.50-0.9%NYSE closed
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venue perp mark · Helix (Injective) (SAP/USDC)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

1/2 live markets
Venues
2
Live markets
1/2
24h volume
$56K
Open interest
-Coverage: 0/1 markets
Best liquidity
-
Tightest spread
-
Highest volume
$56K
Helix (Injective)
Settlement mix
USDC · 1/2
Perp/spot vol.
0.00x
Spot volume $336.2M
OI / float
-
Float $251B
Spot performance
1D-0.14%
5D-1.39%
1M+10.86%
6M+10.81%
YTD-10.78%
1Y-20.32%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
Helix (Injective)TradeSAP/USDCTrading$217.50-24.1% APR
-0.00275% every 1h
--$56K-USDC12x
BingXTradeSAP-USDTWatchlist------USDT-

Tradability

Execution quality

No sufficient depth · 0 of 1 venues absorb $10k

No fresh book data: Helix (Injective)

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

-
No live data-

Tightest spread

-
No live data-

Highest volume

SAP

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 4h ago
Market cap
$252.6B
Updated 4h ago
Revenue
$44.4B
Trailing 12 months
Revenue growth
+9%
Next fiscal year
Profit margin
+20.8%
P/E
27.1
Peer P/E 55.1
Free cash flow
$10.1B
Trailing 12 months
More metrics
Net income
$9.1B
Trailing 12 months
P/S
5.7
Peer P/E
55.1
Similar listed perps
Revenue estimate
$46.7B
Next fiscal year
Earnings
2026-10-21
Revenue est. $11.5B · Updated 4h ago
Dividend
$2.941
2026-05-05

Fundamental detail

Annual + quarterly
Latest revenue$42.8B
Net margin+19.5%
Free cash flow$9.2B
Net debt-$173.1M
2020$31.8B
2021$31.3B
2022$34.3B
2023$36.3B
2024$39.7B
2025$42.8B
PeriodRevenueGrowthNet incomeFCF
2020$31.8B-1%$6B$7.4B
2021$31.3B-1%$6.1B$6.4B
2022$34.3B+10%$2.7B$5.5B
2023$36.3B+6%$7.1B$6.4B
2024$39.7B+10%$3.6B$5.1B
2025$42.8B+8%$8.3B$9.2B
PeriodGross marginOperating marginNet marginROEROA
2020+71.2%+24.2%+18.8%+17.3%+8.8%
2021+73.2%+23.4%+19.5%+13.5%+7.4%
2022+72.8%+20.0%+7.7%+5.7%+3.2%
2023+72.2%+18.6%+19.7%+14.2%+9.0%
2024+73.0%+13.6%+9.1%+6.9%+4.2%
2025+72.9%+26.1%+19.5%+16.0%+10.2%
PeriodCashDebtNet debtCurrent ratio
2020$6.2B$18B$11.8B1.17
2021$10.3B$17.6B$7.3B1.24
2022$10.5B$15.2B$4.7B1.06
2023$9.4B$10.2B$773.9M1.40
2024$11.2B$12.4B$1.2B1.12
2025$9.5B$9.4B-$173.1M1.17
PeriodMarket capEnterprise valueP/SP/E
2020$146.5B$158.3B4.624.5
2021$168.9B$176.1B5.427.0
2022$131B$135.8B3.849.2
2023$189.6B$190.4B5.226.6
2024$322.1B$323.3B8.188.7
2025$280.1B$279.9B6.634.2
Q3 2024$9.8B
Q4 2024$10.9B
Q1 2025$10.5B
Q2 2025$10.5B
Q3 2025$10.5B
Q4 2025$11.3B
Q1 2026$11.1B
Q2 2026$11.5B
PeriodRevenueGrowthNet incomeFCF
Q3 2024$9.8B+9%$1.7B$1.5B
Q4 2024$10.9B+11%$1.9B-$951.6M
Q1 2025$10.5B+12%$2.1B$4.2B
Q2 2025$10.5B+9%$2B$2.8B
Q3 2025$10.5B+7%$2.3B$1.5B
Q4 2025$11.3B+3%$2B$1.3B
Q1 2026$11.1B+6%$2.2B$3.8B
Q2 2026$11.5B+9%$2.5B$3.5B
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+73.3%+26.1%+17.3%+3.5%+2.1%
Q4 2024+74.0%+21.5%+17.1%+3.5%+2.2%
Q1 2025+73.3%+25.9%+19.7%+3.6%+2.2%
Q2 2025+73.3%+27.2%+18.8%+4.1%+2.5%
Q3 2025+73.5%+27.4%+22.1%+4.7%+2.9%
Q4 2025+71.4%+24.2%+17.3%+3.8%+2.4%
Q1 2026+73.0%+28.8%+20.2%+4.3%+2.6%
Q2 2026+73.2%+26.8%+22.1%+4.9%+2.9%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$11.6B$12.7B$1B1.10
Q4 2024$11.2B$12.4B$1.2B1.12
Q1 2025$14.2B$12.7B-$1.6B1.17
Q2 2025$9.2B$10.2B$936.1M1.03
Q3 2025$10B$0-$9.9B1.10
Q4 2025$9.5B$9.4B-$173.1M1.17
Q1 2026$11.2B$0-$11.2B1.07
Q2 2026$12.2B$11.5B-$664.6M1.15
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$278.7B$279.7B28.341.1
Q4 2024$321.9B$323.1B29.543.4
Q1 2025$336.4B$334.8B32.140.5
Q2 2025$349.9B$350.8B33.444.5
Q3 2025$308.7B$298.7B29.333.1
Q4 2025$280.1B$279.9B24.932.7
Q1 2026$200.2B$188.9B18.022.3
Q2 2026$180.7B$180.1B15.717.8
Historical value series
Revenue
Q3 2023: $9BQ4 2023: $9.8BQ1 2024: $9.3BQ2 2024: $9.6BQ3 2024: $9.8BQ4 2024: $10.9BQ1 2025: $10.5BQ2 2025: $10.5BQ3 2025: $10.5BQ4 2025: $11.3BQ1 2026: $11.1BQ2 2026: $11.5BQ3 2023Q2 2026
Net income
Q3 2023: $1.5BQ4 2023: $1.5BQ1 2024: -$962.1MQ2 2024: $1BQ3 2024: $1.7BQ4 2024: $1.9BQ1 2025: $2.1BQ2 2025: $2BQ3 2025: $2.3BQ4 2025: $2BQ1 2026: $2.2BQ2 2026: $2.5BQ3 2023Q2 2026
EBITDA
Q3 2023: $2.8BQ4 2023: $2.7BQ1 2024: -$491.5MQ2 2024: $2.3BQ3 2024: $3.1BQ4 2024: $3.3BQ1 2025: $3.6BQ2 2025: $3.6BQ3 2025: $3.9BQ4 2025: $2.9BQ1 2026: $3.9BQ2 2026: $4.2BQ3 2023Q2 2026
Free cash flow
Q3 2023: $1.1BQ4 2023: $2.1BQ1 2024: $3.1BQ2 2024: $1.6BQ3 2024: $1.5BQ4 2024: -$951.6MQ1 2025: $4.2BQ2 2025: $2.8BQ3 2025: $1.5BQ4 2025: $1.3BQ1 2026: $3.8BQ2 2026: $3.5BQ3 2023Q2 2026
EPS
Q3 2023: $1.25Q4 2023: $1.17Q1 2024: -$0.81Q2 2024: $0.88Q3 2024: $1.44Q4 2024: $1.58Q1 2025: $1.75Q2 2025: $1.67Q3 2025: $1.99Q4 2025: $1.82Q1 2026: $1.92Q2 2026: $2.18Q3 2023Q2 2026
Cash / Debt
Q3 2023 · Cash: $10.9BQ3 2023 · Debt: $12.6BQ4 2023 · Cash: $9.4BQ4 2023 · Debt: $10.2BQ1 2024 · Cash: $10.8BQ1 2024 · Debt: $11.2BQ2 2024 · Cash: $9.1BQ2 2024 · Debt: $10.1BQ3 2024 · Cash: $11.6BQ3 2024 · Debt: $12.7BQ4 2024 · Cash: $11.2BQ4 2024 · Debt: $12.4BQ1 2025 · Cash: $14.2BQ1 2025 · Debt: $12.7BQ2 2025 · Cash: $9.2BQ2 2025 · Debt: $10.2BQ3 2025 · Cash: $10BQ3 2025 · Debt: $0Q4 2025 · Cash: $9.5BQ4 2025 · Debt: $9.4BQ1 2026 · Cash: $11.2BQ1 2026 · Debt: $0Q2 2026 · Cash: $12.2BQ2 2026 · Debt: $11.5BQ3 2023Q2 2026
CashDebt
Profitability
Q3 2023 · Gross margin: +72.8%Q4 2023 · Gross margin: +73.3%Q1 2024 · Gross margin: +71.7%Q2 2024 · Gross margin: +72.6%Q3 2024 · Gross margin: +73.3%Q4 2024 · Gross margin: +74.0%Q1 2025 · Gross margin: +73.3%Q2 2025 · Gross margin: +73.3%Q3 2025 · Gross margin: +73.5%Q4 2025 · Gross margin: +71.4%Q1 2026 · Gross margin: +73.0%Q2 2026 · Gross margin: +73.2%Q3 2023 · Operating margin: +22.2%Q4 2023 · Operating margin: +22.5%Q1 2024 · Operating margin: +9.8%Q2 2024 · Operating margin: +14.7%Q3 2024 · Operating margin: +26.1%Q4 2024 · Operating margin: +21.5%Q1 2025 · Operating margin: +25.9%Q2 2025 · Operating margin: +27.2%Q3 2025 · Operating margin: +27.4%Q4 2025 · Operating margin: +24.2%Q1 2026 · Operating margin: +28.8%Q2 2026 · Operating margin: +26.8%Q3 2023 · Net margin: +16.5%Q4 2023 · Net margin: +15.5%Q1 2024 · Net margin: -10.3%Q2 2024 · Net margin: +10.7%Q3 2024 · Net margin: +17.3%Q4 2024 · Net margin: +17.1%Q1 2025 · Net margin: +19.7%Q2 2025 · Net margin: +18.8%Q3 2025 · Net margin: +22.1%Q4 2025 · Net margin: +17.3%Q1 2026 · Net margin: +20.2%Q2 2026 · Net margin: +22.1%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth
Q2 2024: +12.0%Q3 2024: +9.4%Q4 2024: +10.7%Q1 2025: +12.1%Q2 2025: +8.9%Q3 2025: +7.2%Q4 2025: +3.3%Q1 2026: +6.0%Q2 2026: +9.4%Q3 2023Q2 2026
Shares outstanding
Q3 2023: 1.2BQ4 2023: 1.2BQ1 2024: 1.2BQ2 2024: 1.2BQ3 2024: 1.2BQ4 2024: 1.2BQ1 2025: 1.2BQ2 2025: 1.2BQ3 2025: 1.2BQ4 2025: 1.2BQ1 2026: 1.2BQ2 2026: 1.2BQ3 2023Q2 2026
Valuation
Q3 2023 · P/E: 28.0Q4 2023 · P/E: 34.3Q1 2024 · P/E: -64.2Q2 2024 · P/E: 61.1Q3 2024 · P/E: 41.1Q4 2024 · P/E: 43.4Q1 2025 · P/E: 40.5Q2 2025 · P/E: 44.5Q3 2025 · P/E: 33.1Q4 2025 · P/E: 32.7Q1 2026 · P/E: 22.3Q2 2026 · P/E: 17.8Q3 2023 · P/S: 18.4Q4 2023 · P/S: 19.3Q1 2024 · P/S: 26.5Q2 2024 · P/S: 26.1Q3 2024 · P/S: 28.3Q4 2024 · P/S: 29.5Q1 2025 · P/S: 32.1Q2 2025 · P/S: 33.4Q3 2025 · P/S: 29.3Q4 2025 · P/S: 24.9Q1 2026 · P/S: 18.0Q2 2026 · P/S: 15.7Q3 2023Q2 2026
P/EP/S
Revenue
2018: $28.7B2019: $32B2020: $31.8B2021: $31.3B2022: $34.3B2023: $36.3B2024: $39.7B2025: $42.8B20182025
Net income
2018: $4.7B2019: $3.9B2020: $6B2021: $6.1B2022: $2.7B2023: $7.1B2024: $3.6B2025: $8.3B20182025
EBITDA
2018: $8.6B2019: $8B2020: $10.9B2021: $12.8B2022: $9.6B2023: $9.3B2024: $8.2B2025: $14B20182025
Free cash flow
2018: $3.3B2019: $3.1B2020: $7.4B2021: $6.4B2022: $5.5B2023: $6.4B2024: $5.1B2025: $9.2B20182025
EPS
2018: $3.972019: $3.252020: $5.052021: $5.32022: $2.272023: $6.042024: $3.082025: $6.9620182025
Cash / Debt
2018 · Cash: $10B2018 · Debt: $13.1B2019 · Cash: $6.9B2019 · Debt: $20.6B2020 · Cash: $6.2B2020 · Debt: $18B2021 · Cash: $10.3B2021 · Debt: $17.6B2022 · Cash: $10.5B2022 · Debt: $15.2B2023 · Cash: $9.4B2023 · Debt: $10.2B2024 · Cash: $11.2B2024 · Debt: $12.4B2025 · Cash: $9.5B2025 · Debt: $9.4B20182025
CashDebt
Profitability
2018 · Gross margin: +69.8%2019 · Gross margin: +69.7%2020 · Gross margin: +71.2%2021 · Gross margin: +73.2%2022 · Gross margin: +72.8%2023 · Gross margin: +72.2%2024 · Gross margin: +73.0%2025 · Gross margin: +72.9%2018 · Operating margin: +23.1%2019 · Operating margin: +16.2%2020 · Operating margin: +24.2%2021 · Operating margin: +23.4%2022 · Operating margin: +20.0%2023 · Operating margin: +18.6%2024 · Operating margin: +13.6%2025 · Operating margin: +26.1%2018 · Net margin: +16.5%2019 · Net margin: +12.1%2020 · Net margin: +18.8%2021 · Net margin: +19.5%2022 · Net margin: +7.7%2023 · Net margin: +19.7%2024 · Net margin: +9.1%2025 · Net margin: +19.5%20182025
Gross marginOperating marginNet margin
Revenue growth
2019: +11.5%2020: -0.8%2021: -1.4%2022: +9.5%2023: +5.7%2024: +9.5%2025: +7.7%20182025
Shares outstanding
2018: 1.2B2019: 1.2B2020: 1.2B2021: 1.2B2022: 1.2B2023: 1.2B2024: 1.2B2025: 1.2B20182025
Valuation
2018 · P/E: 25.42019 · P/E: 42.72020 · P/E: 24.52021 · P/E: 27.02022 · P/E: 49.22023 · P/E: 26.62024 · P/E: 88.72025 · P/E: 34.22018 · P/S: 4.22019 · P/S: 5.22020 · P/S: 4.62021 · P/S: 5.42022 · P/S: 3.82023 · P/S: 5.22024 · P/S: 8.12025 · P/S: 6.620182025
P/EP/S

Refreshed 4h ago

Next catalyst

Catalysts

Earnings
2026-10-21
Revenue est. $11.5B · Updated 4h ago
Dividend
$2.941
2026-05-05

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 20267.10$46.7B+9%11
FY 20278.28$52.2B+22%11
FY 20289.66$58.5B+37%11
FY 202910.61$64B+50%4
FY 203011.82$69.2B+62%4
Q1 20292.64$13.9B+25%2

Company events

6
2026-10-21EarningsActual - / Estimate 2.04-
2026-07-23EarningsActual 1.85 / Estimate 2Miss
2026-05-05Dividend$2.941-
2026-04-23EarningsActual 2.01 / Estimate 1.92Beat
2026-01-29EarningsActual 1.89 / Estimate 1.77Beat
2025-10-22EarningsActual 1.86 / Estimate 1.69Beat

Peer comparison

Similar listed perps

FMP company data

Company intelligence

Updated: Sep 4, 2026, 08:52 PM UTC

Company profile

Sector
Technology
Industry
Software - Application
Chief executive
Christian Klein
Employees
112,019
IPO date
Sep 18, 1995
Country
DE
Exchange
New York Stock Exchange
Website
Altman Z-scorei6.17
Piotroski scorei7/9
FMP ratingiA-
Owner earningsi€3.18B€2.74 per share
ESG risk ratingiB+Industry rank: 23 out of 269

Rating factors

Return on equityi
4
Return on assetsi
5
Debt to equityi
3
Price to earningsi
2
Price to booki
2
Market cap history
2026-06-042026-09-04Latest: $249.59BHigh: $249.59BLow: $185.09B
Largest fund holders
FundWeightShares held
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VWNAX0.32%1.4M
SPDW0.65%1.2M
SPEM0%991.9K
AIQ2.16%989.4K
VEUR.S2%521.9K
FNDF0.37%434.3K
EWX0.04%290.2K
EAGL0.04%286.7K
SKYY1.3%198.4K
AVDE0.18%158.8K

Frequently asked questions

Where can I trade SAP perpetual futures?

SAP SE (SAP) perpetual futures trade on 1 crypto venues, including Helix (Injective). PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade SAP around the clock?

Yes. Unlike the underlying stock, SAP perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on SAP perpetuals?

Right now the SAP perp funding rate is -24.1% annualized (venue median), ranging from -24.1% to -24.1% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the SAP perp price compare to the SAP SE stock?

The venue-median SAP perp mark is $217.5 versus a reference stock price of $217.5, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a SAP perpetual future?

A SAP perpetual is a derivative that tracks the price of SAP SE with no expiry date. It lets you take long or short exposure to SAP SE on crypto venues, around the clock.

What is SAPUSDT perpetual?

SAPUSDT is the symbol most crypto exchanges use for the SAP SE perpetual settled in USDT (Tether). It tracks the SAP share price through an index, trades 24/7 with leverage and never expires.

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