SAP reports EUR 10.27 billion quarter: SAP stock sits 15.13 percent below its 52-week high

Published on 10/22/2026 at 11:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Cloud backlog rose 28.00 percent to EUR 24.10 billion in Q3 2026. SAP stock costs EUR 207.35 on October 22, 2026, below its Xetra close.

Cloud backlog and market value

SAP crossed EUR 10.27 billion in third-quarter revenue on October 21, 2026.
Current cloud backlog reached EUR 24.10 billion, up 28.00 percent in the third quarter of 2026.
SAP stock trades at EUR 207.35 at 11:42 a.m. CEST at Lang & Schwarz on October 22, 2026, 0.62 percent below the Xetra close of October 21, 2026.
Market capitalization stood at EUR 238.8 billion as of October 22, 2026.

SAP SE (DE0007164600) Bauhaus-Poster mit stilisierten Datenfluss-Pfeilen in Blau, Orange und Weiß, Illustration mit AI erstellt.

SAP stock (ISIN DE0007164600) was trading at EUR 207.35 at Lang & Schwarz on October 22, 2026, 0.62 percent below the Xetra close of October 21, 2026 at EUR 208.65. SAP reported third-quarter revenue of EUR 10.27 billion, up 13.00 percent year over year, according to SAP News on October 21, 2026.

Cloud demand sets the pace

Current cloud backlog reached EUR 24.14 billion in the third quarter of 2026, up 28.00 percent from EUR 18.84 billion a year earlier and 26.00 percent at constant currencies. Cloud revenue rose 26.00 percent to EUR 6.67 billion, while Cloud ERP Suite revenue increased 29.00 percent to EUR 5.92 billion, SAP News reported on October 21, 2026.

The company updated its 2026 cloud revenue outlook toward the upper end of EUR 25.80 billion to EUR 26.20 billion at constant currencies. Cloud and software revenue is expected toward the upper end of EUR 36.30 billion to EUR 36.80 billion, while non-IFRS operating profit remains guided at EUR 11.80 billion to EUR 12.20 billion, according to Finanznachrichten.

What does the backlog mean for margins?

Non-IFRS operating margin reached 29.50 percent in the third quarter of 2026, compared with 28.30 percent a year earlier. Free cash flow rose 36.00 percent to EUR 1.72 billion, although the quarterly statement said acquisitions contributed EUR 49.00 million of revenue and reduced non-IFRS operating profit by EUR 39.00 million.

Three dates shape the sequence

SAP placed a EUR 3.50 billion eurobond on May 28, 2026, completed the Dremio acquisition on July 6, 2026, and reported EUR 10.27 billion of third-quarter revenue on October 21, 2026. SAP's investor-relations calendar listed the results disclosure at 10:05 p.m. CEST and the analyst conference call at 11:00 p.m. CEST on October 21, 2026, according to SAP.

Stock remains below its yearly high

SAP stock sits 15.13 percent below its 52-week high of EUR 244.30, while the same quote shows a 52-week low of EUR 127.50. The EUR 238.8 billion market capitalization as of October 22, 2026 places the market response against a quarter with double-digit cloud and profit growth.

The stock was trading at EUR 207.35 at Lang & Schwarz on October 22, 2026 at 11:42 a.m. CEST, down 0.62 percent versus the Xetra close of October 21, 2026 at EUR 208.65. The further course of trading is shown by the continuously updated real-time quote of SAP stock.