Sap SE ADR (SAP) is undervalued and Uber Technologies Inc (UBER) is undervalued.
Against our estimates of intrinsic value, UBER trades at the wider discount: a margin of safety of +70%, against +38% for SAP.
Values as of the 22 Sept 2026 close.
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $339.66; the price of $210.68 is 38% below that value.
Leak Score 100/100 on 3 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $236.26; the price of $69.89 is 70% below that value.
Leak Score 75/100 on 10 of 12 signals
| Metric | SAP | UBER |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $210.68 | $69.89 |
| Intrinsic value | $339.66 | $236.26 |
| Margin of safety | +38% | +70% |
| Leak Score | 100/100 (3/12) | 75/100 (10/12) |
| Market cap | $243.2B | $142.8B |
| Revenue growth, 5 years | 5.9% | 36.1% |
| Operating margin | 28.4% | 13.3% |
| Net margin | 20.9% | 17.3% |
| Return on equity | 18.7% | 38.4% |
| Debt to equity | 0.22 | 0.54 |
| P/E | 26.5x | 15.4x |
| Forward P/E | 22.3x | 15.8x |
| P/B | 4.8x | 5.2x |
| Dividend yield | 1.4% | — |