SAP $SAP hits my secondary buy zone at 140€

The valuation is clearly improving. Currently, SAP is trading at a forward PE of 21x, which sits significantly below its:

✔️ 10-year average: 40x

✔️ 10-year floor: 25x

Looking at the fundamentals, the growth trajectory remains robust. Projected 2026 FCF is expected to be 3x the 2016 levels

We are looking at a much more efficient cash machine than a decade ago

Who else is eyeing this entry point, or are current shareholders adding to their size here?

The image is an extract from my article