WallStSmart

Materialise NV (MTLS)vsSAP SE ADR (SAP)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

SAP SE ADR generates 13650% more annual revenue ($36.80B vs $267.63M). SAP leads profitability with a 19.5% profit margin vs 2.9%. SAP trades at a lower P/E of 26.3x. SAP earns a higher WallStSmart Score of 58/100 (C).

MTLS

Hold

46

out of 100

Grade: D+

Growth: 6.7Profit: 4.0Value: 7.7Quality: 7.5
Piotroski: 3/9Altman Z: 2.03

SAP

Buy

58

out of 100

Grade: C

Growth: 5.3Profit: 8.5Value: 7.3Quality: 8.0
Piotroski: 6/9Altman Z: 3.09
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

MTLSUndervalued (+21.5%)

Margin of Safety

+21.5%

Fair Value

$7.02

Current Price

$4.95

$2.07 discount

UndervaluedFair: $7.02Overvalued
SAPSignificantly Overvalued (-88.8%)

Margin of Safety

-88.8%

Fair Value

$104.04

Current Price

$168.95

$64.91 premium

UndervaluedFair: $104.04Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

MTLS3 strengths · Avg: 9.7/10
Price/BookValuation
1.0x10/10

Reasonable price relative to book value

EPS GrowthGrowth
112.8%10/10

Earnings expanding 112.8% YoY

Debt/EquityHealth
0.269/10

Conservative balance sheet, low leverage

SAP6 strengths · Avg: 8.8/10
Market CapQuality
$217.55B10/10

Mega-cap, among the largest globally

Altman Z-ScoreHealth
3.0910/10

Safe zone — low bankruptcy risk

Debt/EquityHealth
0.189/10

Conservative balance sheet, low leverage

PEG RatioValuation
0.798/10

Growing faster than its price suggests

Operating MarginProfitability
29.2%8/10

Strong operational efficiency at 29.2%

Free Cash FlowQuality
$1.09B8/10

Generating 1.1B in free cash flow

Areas to Watch

MTLS4 concerns · Avg: 3.3/10
P/E RatioValuation
32.9x4/10

Premium valuation, high expectations priced in

Market CapQuality
$304.78M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
3.1%3/10

ROE of 3.1% — below average capital efficiency

Profit MarginProfitability
2.9%3/10

2.9% margin — thin

SAP2 concerns · Avg: 4.0/10
P/E RatioValuation
26.3x4/10

Moderate valuation

Revenue GrowthGrowth
3.3%4/10

3.3% revenue growth

Comparative Analysis Report

WallStSmart Research

Bull Case : MTLS

The strongest argument for MTLS centers on Price/Book, EPS Growth, Debt/Equity.

Bull Case : SAP

The strongest argument for SAP centers on Market Cap, Altman Z-Score, Debt/Equity. Profitability is solid with margins at 19.5% and operating margin at 29.2%. PEG of 0.79 suggests the stock is reasonably priced for its growth.

Bear Case : MTLS

The primary concerns for MTLS are P/E Ratio, Market Cap, Return on Equity. Thin 2.9% margins leave little buffer for downturns.

Bear Case : SAP

The primary concerns for SAP are P/E Ratio, Revenue Growth.

Key Dynamics to Monitor

MTLS carries more volatility with a beta of 1.23 — expect wider price swings.

MTLS is growing revenue faster at 6.8% — sustainability is the question.

SAP generates stronger free cash flow (1.1B), providing more financial flexibility.

Monitor SOFTWARE - APPLICATION industry trends, competitive dynamics, and regulatory changes.

Bottom Line

SAP scores higher overall (58/100 vs 46/100), backed by strong 19.5% margins. MTLS offers better value entry with a 21.5% margin of safety. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Materialise NV

TECHNOLOGY · SOFTWARE - APPLICATION · USA

Materialize NV offers additive manufacturing and medical software and 3D printing services in the Americas, Europe, Africa, and Asia-Pacific. The company is headquartered in Leuven, Belgium.

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SAP SE ADR

TECHNOLOGY · SOFTWARE - APPLICATION · USA

SAP SE is a global enterprise application software company. The company is headquartered in Walldorf, Germany.

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