SAP SE

Shortcut’s reasoning.

The scored forecast is EUR non-IFRS basic EPS per ordinary share. All six frozen normalized historical actuals match SAP basic EPS despite the raw consensus diluted label. The IFRS diluted comparison uses a different share basis; the USD ADR memo is not the scored forecast.

Non-IFRS net income of EUR2,029.707026636 million divided by 1,149.582 million basic shares gives EPS of EUR1.7656043906706962, against frozen Street EUR1.83. Revenue is EUR10,103.19955 million, with EUR2,900.9468904 million of non-IFRS operating profit.

MEDIUM source and modeling limits remain in cash-settled compensation: the EUR185.66 September30 price lacks an archived pre-cutoff capture, and the sensitivity coefficient is judgmental. Only 78% of the incremental EUR87.822 million remeasurement is explicitly linked to operating expenses, an actual EPS effect of about EUR0.04261; the earlier EUR0.05462 full-allocation example is not the current-model effect.

The EUR116.78 million cost-of-revenue SBC allocation is assumed embedded in margin and cost ratios, but that embedding is not independently reconciled. An additional EUR12.78 million charge would lower EPS about EUR0.008 only if not already included. No double charge, financial-input retuning or EPS change was made during review.

The issuer-published EUR5,852 million constant-currency first-half operating profit is retained even though independently rounded components EUR5,609 million and EUR242 million sum to EUR5,851 million. Regional FX diagnostics, share-opening proxies, historical EUR1 million rounding gaps, source capture and header/readability limits remain disclosed.