WallStSmart

nCino Inc (NCNO)vsSAP SE ADR (SAP)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

SAP SE ADR generates 6021% more annual revenue ($37.34B vs $610.06M). SAP leads profitability with a 19.6% profit margin vs 2.2%. SAP trades at a lower P/E of 22.8x. SAP earns a higher WallStSmart Score of 59/100 (C).

NCNO

Buy

52

out of 100

Grade: C-

Growth: 8.0Profit: 4.5Value: 5.7Quality: 5.3
Piotroski: 5/9

SAP

Buy

59

out of 100

Grade: C

Growth: 6.0Profit: 8.5Value: 4.7Quality: 6.8
Piotroski: 6/9Altman Z: 3.11
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NCNOUndervalued (+69.3%)

Margin of Safety

+69.3%

Fair Value

$57.29

Current Price

$14.92

$42.37 discount

UndervaluedFair: $57.29Overvalued
SAPSignificantly Overvalued (-34.7%)

Margin of Safety

-34.7%

Fair Value

$145.83

Current Price

$184.77

$38.94 premium

UndervaluedFair: $145.83Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NCNO2 strengths · Avg: 9.0/10
EPS GrowthGrowth
147.6%10/10

Earnings expanding 147.6% YoY

Price/BookValuation
1.7x8/10

Reasonable price relative to book value

SAP4 strengths · Avg: 9.3/10
Operating MarginProfitability
30.0%10/10

Strong operational efficiency at 30.0%

Altman Z-ScoreHealth
3.1110/10

Safe zone — low bankruptcy risk

Market CapQuality
$192.92B9/10

Large-cap with strong market position

Free Cash FlowQuality
$3.27B8/10

Generating 3.3B in free cash flow

Areas to Watch

NCNO4 concerns · Avg: 2.8/10
Market CapQuality
$1.68B3/10

Smaller company, higher risk/reward

Return on EquityProfitability
1.8%3/10

ROE of 1.8% — below average capital efficiency

Profit MarginProfitability
2.2%3/10

2.2% margin — thin

P/E RatioValuation
127.7x2/10

Premium valuation, high expectations priced in

SAP0 concerns · Avg: 0/10

No major concerns identified

Comparative Analysis Report

WallStSmart Research

Bull Case : NCNO

The strongest argument for NCNO centers on EPS Growth, Price/Book. Revenue growth of 10.6% demonstrates continued momentum.

Bull Case : SAP

The strongest argument for SAP centers on Operating Margin, Altman Z-Score, Market Cap. Profitability is solid with margins at 19.6% and operating margin at 30.0%. PEG of 1.44 suggests the stock is reasonably priced for its growth.

Bear Case : NCNO

The primary concerns for NCNO are Market Cap, Return on Equity, Profit Margin. A P/E of 127.7x leaves little room for execution misses. Thin 2.2% margins leave little buffer for downturns.

Bear Case : SAP

No major red flags identified for SAP, but monitor valuation.

Key Dynamics to Monitor

NCNO profiles as a value stock while SAP is a mature play — different risk/reward profiles.

SAP carries more volatility with a beta of 0.73 — expect wider price swings.

NCNO is growing revenue faster at 10.6% — sustainability is the question.

SAP generates stronger free cash flow (3.3B), providing more financial flexibility.

Bottom Line

SAP scores higher overall (59/100 vs 52/100), backed by strong 19.6% margins. NCNO offers better value entry with a 69.3% margin of safety. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

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

nCino Inc

TECHNOLOGY · SOFTWARE - APPLICATION · USA

nCino, Inc., a software as a service company, provides cloud-based software applications for financial institutions in the United States and internationally. The company is headquartered in Wilmington, North Carolina.

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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