SAP SE

XTRA-SAP

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	2,051	1,749	1,796	1,616	1,440	918
Profit After Tax
Depreciation & Amortization	318	319	349	337	317	313
Depreciation and Amortization
Share-Based Compensation Expense	117	344	227	741	-392	-43
Share-Based Payment Expenses
Share-Based Payments
Share-Based Payments
Share-Based Payments
Share-Based Payments
Other Adjustments	-21	202	144	-651	525	-369
Income Tax Expense
Financial Income, Net
Change in Sales and Bad Debt Allowances on Trade Receivables
Other Adjustments for Non-Cash Items
Income Taxes Paid, Net of Refunds
Interest Received
Interest Paid
Profit After Tax from Discontinued Operations
Changes in Trade Receivables	576	1,390	-1,287	-1,190	571	1,332
Change in Trade and Other Receivables
Changes in Other Operating Activities	-1,673	-1,428	2,552	-1,016	-1,721	-640
Change in Other Assets
Change in Trade Payables, Provisions, and Other Liabilities
Change in Contract Liabilities/Deferred Income
Cash from Operating Activities	1,502	2,577	3,780	-571	1,403	1,510
Net Cash Flows from Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-201	-190	-168	-269	-163	-178
Purchase of Intangible Assets and Property, Plant, and Equipment
Proceeds from Sale of Property, Plant & Equipment	32	40	38	42	25	28
Proceeds from Sales of Intangible Assets or Property, Plant, and Equipment
Purchases of Investments	-983	-2,020	-1,366	116	1,470	-3,739
Purchase of Equity or Debt Instruments of Other Entities
Proceeds from Sale of Investments	1,642	1,390	1,422	81	82	4,073
Proceeds from Sales of Equity or Debt Instruments of Other Entities
Payments for Business Acquisitions	-695	-2	-3	-10	-1,085	-9.5
Cash Flows for Business Combinations, Net of Cash and Cash Equivalents Acquired
Proceeds from Business Divestments	—	—	—	—	—	—
Proceeds from Sales of Subsidiaries or Other Businesses
Cash Receipts from Derivative Financial Instruments Related to Business Combinations
Total Cash Flows for Business Combinations, Net of Cash and Cash Equivalents Acquired
Total Cash Flows for Business Combinations, Net of Cash and Cash Equivalents Acquired
Cash Flows from Derivative Financial Instruments Related to the Sale of Subsidiaries or Businesses
Other Investing Activities	-187	67	120	-143.5	-287	143
Cash Flows from Advances (Supply Chain Financing)
Interest Received
Cash from Investing Activities	-74	-716	43	-459	463	326
Net Cash Flows from Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Long-Term Debt	—	2	—	1,516	1,250	0.5
Proceeds from Borrowings
Total Cash Flows from Proceeds from Borrowings
Repayments of Long-Term Debt	-322	-671	-1,317	-1,268	-650.5	-71
Repayments of Borrowings
Payments of Lease Liabilities
Net Issuance / (Repayments) of Long-Term Debt	-322	-669	-1,317	248	599.5	-70.5
Issuance of Common Shares	—	—	—	—	—	—
Proceeds from Reissuance of Treasury Shares
Proceeds from Changes in Ownership Interests in Subsidiaries That Do Not Result in the Loss of Control
Repurchases of Common Shares	-304	-1,508	-125	-481	-650	-543
Purchase of Treasury Shares
Payments for Taxes Related to Net Share Settlement of Equity Awards
Net Issuance / (Repurchases) of Common Shares	-304	-1,508	-125	-481	-650	-543
Common Share Dividends Paid	—	-2,743	—	—	—	-2,565
Dividends Paid
Other Financing Activities	376	-98	-281	177	378.5	-119
Dividends Paid on Non-Controlling Interests
Cash Flows with Funders (Supply Chain Financing)
Transactions with Non-Controlling Interests
Transactions with Non-Controlling Interests
Interest Paid
Cash from Financing Activities	-700	-5,019	-1,723	206	468	-3,299
Net Cash Flows from Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	1,301	2,387	3,612	-840	1,240	1,332
NOPAT	1,858.2	1,716.8	1,697.8	1,476.9	1,483.2	808.8
Levered Free Cash Flow	126	-271	3,196	875	496.5	312.5
Unlevered Free Cash Flow	302.2	417.8	4,430.8	528.9	-83.8	303.8
Net Change in Cash	728	-3,158	2,100	-824	2,334	-1,463