# SAP CDR (CAD Hedged) (SAPS.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Technology / Software. Price C$18.37, market value C$351.8 billion.

## Valuation
- **P/E (trailing): 28.7×** (5-yr avg 50.4×, 3-yr avg 50.4×). SAP CDR (CAD Hedged) trades at 28.7× trailing earnings, well below its own five-year average of 50.4×: cheap by its own standards. The Technology median in the September 2026 study was 32.1×.
- **Price / sales: 8.9×**. Each dollar of revenue is priced at 8.9×.
- **Price / book: 4.1×**. The shares trade at 4.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 26.6×**. Enterprise value is 26.6× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 2.6%** (5-yr avg 2.3%). Free cash flow equals 2.6% of the market value, in line with its five-year average of 2.3%.
- **Earnings yield: 3.5%**. The inverse of the P/E: 3.5% of the price is earned each year.

## Profitability
- **Gross margin: 72.7%**. SAP CDR (CAD Hedged) keeps 72.7% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 27.1%**. 27.1% of revenue is left after running the business, an exceptional level.
- **Net margin: 19.5%**. 19.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 16.1%**. 16.1% on shareholders' equity is solid.
- **Return on invested capital: 18.2%**. Return on all capital, debt included, is 18.2%: comfortably above what that capital costs.
- **Return on assets: 11.4%**. Each dollar of assets produces 11.4% of profit.

## Growth
- **Revenue growth (1 yr): 7.7%** (3-yr 7.6%/yr). Revenue grew 7.7% over the last year.
- **EPS growth (1 yr): 130.2%** (3-yr 46.3%/yr). Earnings per share rose 130.2%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 20.8%/yr**. Free cash flow has compounded at 20.8% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.17**. Debt is 0.17 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. SAP CDR (CAD Hedged) holds more cash than debt.
- **Interest coverage: 19.9×**. Operating profit covers interest 19.9× over, a safe margin.
- **Current ratio: 1.16** (quick 1.16). Current assets cover the next year's liabilities 1.16 times.
- **Altman Z-score: 10.51**. A Z-score of 10.51 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend: none**. SAP CDR (CAD Hedged) does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -5.9%** (YTD 2.2%, 3-mo 34.7%). The shares are down 5.9% over twelve months including dividends.
- **From 52-week high: -19.1%** (60.6% above the low). Trading 19% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 66**. An RSI of 66 is neutral.
- **Beta (1 yr): 0.77** (volatility 47%). Beta of 0.77 against the S&P/TSX Composite: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=SAPS.TO · Page: https://foliofundamentals.com/stocks/saps.to

Not investment advice.