Palantir Technologies Inc. vs SAP SE, two Software stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
One figure separates these two enterprise-software vendors: 127.3 times trailing earnings for Palantir against 23.3 for SAP, a five-fold premium the income statements do not explain, because Palantir already earns the better margins, 46.2% operating against 26.1%, on an 86.8% gross margin against 72.9%. What the premium buys is trajectory: Palantir's returns on assets, 22.4% against 10.4%, are compounding off a base growing triple-digit in its US commercial business, while SAP's estate grows like the installed base it is. SAP hands back 5.5% of its price in free cash; Palantir 0.9%, with a 6.9 current ratio war chest. The pair prices the same product category at two different tenses, and the future tense costs four extra multiples of the present.
Comparison updated 2026-07-10.
| Metric | PLTR | SAP |
|---|---|---|
| Price | $113.29 | $155.23 |
| Market cap | $291.3B | $181.0B |
| Sector | Software | Software |
| Stage | Growth | Mature |
| P/E | 127.3 | 23.3 |
| P/B | 34.04 | 3.69 |
| P/S | 55.75 | 4.52 |
| EV/EBITDA | 143.2 | 16.5 |
| Revenue growth | +66.4% | +8.1% |
| Gross margin | 86.8% | 72.9% |
| Operating margin | 46.2% | 26.1% |
| Net margin | 43.7% | 19.9% |
| Return on equity | 26.7% | 16.3% |
| Return on assets | 22.4% | 10.4% |
| Return on invested capital | 23.0% | 15.2% |
| FCF yield | 0.9% | 5.5% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 6.91 | 1.16 |
| Altman Z (solvency) | 7.35 | 5.92 |
| Piotroski F (quality) | 7 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.