SAP expects 2026 cloud revenue toward upper end of outlook
SAP•SAP expects 2026 cloud revenue toward the upper end of its EUR 25.8 billion–EUR 26.2 billion guidance, with non-IFRS operating profit of EUR 11.8 billion–EUR 12.2 billion and free cash flow around EUR 10 billion.
1. 2026 outlook
SAP expects 2026 cloud revenue toward the upper end of its EUR 25.8 billion–EUR 26.2 billion constant-currency range and cloud and software revenue toward the upper end of its EUR 36.3 billion–EUR 36.8 billion range. It forecasts non-IFRS operating profit of EUR 11.8 billion–EUR 12.2 billion at constant currencies and free cash flow around EUR 10 billion.
2. Growth and third quarter
Total revenue growth at constant currencies is expected near 2025's 10.6%, before accelerating in 2027. Third-quarter cloud revenue rose 25% at constant currencies to EUR 6.67 billion, while current cloud backlog increased 26%.
