What if I had invested in SAP
Every lump sum scenario for SAP, start year by start year, using real prices and each month's exchange rate.
SAP, a stock listed in Frankfurt and quoted in euros, grew 5.8-fold in dollar terms between December 2003 and November 2026, an average of +8.0% a year. Its monthly close has moved between €25.24 (December 2008) and €269 (January 2025); it now stands at €218, split-adjusted. Whatever the month of purchase since December 2003, a lump sum would be in profit today 96% of the time.
Data: Yahoo Finance monthly closing prices, up to date as of (latest update November 5, 2026) MethodAuthor: Yann Avondo
If I had invested $1,000 as a lump sum in SAP in January 2016, today I would have $3,051
Over the same period
Worst moment: −49.7% between August 2020 and September 2022. To get this result, you had to hold on without selling.
SAP at a glance
SAP, a German group, is the global leader in enterprise resource planning (ERP) software. Its shift to the cloud made it Germany’s most valuable company.
The worst drop from a peak reached 49.7% in dollar terms (August 2020 to September 2022), erased by January 2024. Calendar year after calendar year, 15 of 22 ended higher; the best, 2024, returned +59.5%, the worst, 2008, cost 32.0%. Over the same period, the MSCI World (price index) returned +7.0% a year in dollar terms: SAP roughly matched it.
$1,000 invested in SAP, by start year
Bought in January, valued at the latest price. Click a year for the full story.
| Start | Worth today | Multiple | Per year |
|---|---|---|---|
| $995 | ×1 | −0.2% | |
| $1,587 | ×1.59 | +17.2% | |
| $2,367 | ×2.37 | +24.6% | |
| $1,730 | ×1.73 | +11.8% | |
| $1,856 | ×1.86 | +11.0% | |
| $1,816 | ×1.82 | +9.0% | |
| $2,461 | ×2.46 | +12.0% | |
| $2,183 | ×2.18 | +9.1% | |
| $2,810 | ×2.81 | +11.0% | |
| $3,051 | ×3.05 | +10.8% | |
| $3,454 | ×3.45 | +11.0% | |
| $2,844 | ×2.84 | +8.4% | |
| $3,049 | ×3.05 | +8.3% | |
| $4,625 | ×4.62 | +10.8% | |
| $4,830 | ×4.83 | +10.4% | |
| $5,177 | ×5.18 | +10.2% | |
| $6,937 | ×6.94 | +11.4% | |
| $4,718 | ×4.72 | +8.5% | |
| $4,606 | ×4.61 | +8.0% | |
| $5,397 | ×5.4 | +8.4% | |
| $5,493 | ×5.49 | +8.1% | |
| $5,840 | ×5.84 | +8.0% |
Lump sum or DCA in SAP?
Since January 2016, investing in SAP all at once (lump sum) multiplied the stake by ×3.05, +10.8% a year. Investing every month (DCA) multiplied the total contributions by ×1.92, an annual return (IRR) of +11.4%.
Here DCA did better: spreading the purchases avoided putting all the money in at the wrong time.
Frequently asked questions
How much would $1,000 invested in SAP 10 years ago be worth today?
$1,000 invested in SAP in January 2016 would be worth about $3,051 today, an average annual return of +10.8% (price only, in the displayed currency).
What if I had invested $1,000 in SAP in 2015?
Invested in January 2015, $1,000 would be worth about $3,454 today, +11.0% a year on average.
What if I had invested $1,000 in SAP in 2020?
Invested in January 2020, $1,000 would be worth about $1,816 today, +9.0% a year on average.
What was the best year to invest in SAP?
Among the start years covered, 2009 gave the best result: $1,000 would have become $6,937. The weakest was 2025, worth $995 today. This ranking is only known with hindsight.
Are dividends included?
By default, the calculation follows the market price only. The "Reinvest dividends" option uses the adjusted price, which includes dividends paid and stock splits: the closest measure of what an investor actually earned.
Are exchange rates taken into account?
Yes. SAP trades in its own currency; every purchase and valuation is converted at that month's exchange rate. A US asset can gain in dollars and less in euros if the dollar weakened.
Are fees and taxes included?
No: results are before brokerage fees, fund fees and taxes. Your net result depends on the account you invest through.
Compare with
Before you have regrets
What this calculation does not tell you.
Hindsight bias
Picking Nvidia or Bitcoin today means picking known winners. Back then, nothing set them apart from hundreds of assets that went nowhere or vanished.
Holding on was the real test
The result assumes you never sold, including through the drawdowns shown above. Very few investors actually do.
The broad market, no bet required
The MSCI World never makes headlines, but it does not require guessing the winner. It is the fairest yardstick for any pick.
Method: past performance, computed from split-adjusted monthly closing prices (intra-month lows are smoothed out). Converted at each month’s exchange rate; no fees, no taxes. The MSCI World benchmark is the price index, excluding dividends. Sources: Yahoo Finance (prices, exchange rates, US Treasury bills), Eurostat (inflation), published regulated rates (Livret A). Not investment advice. NokxiHub.