SANNYSECommercial Banks, NECFiscal year ends December 31Also trades as BCDRF
Banco Santander, S.A.
Financials through fiscal 2025, year ended Dec 31, 2025
$13.02−0.28 (-2.11%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2014 to 2025
Operating margin
–
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Gross profit | +0.5% | +3.8% | +5.7% | – | |
| Net income | +12.1% | +13.7% | – | +9.0% | |
| EPS, diluted | +17.2% | +18.8% | – | +8.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | – | |
| Return on assets | 0.5% | -0.6% | 0.8% | |
| Interest coverage | 1.0× | 1.7× | – | |
| Capex to revenue | 8.9% | – | – | |
| Diluted shares | 14.70B | 17.32B | 14.98B |
Where the cash went
Fiscal 2021 to 2025, five years combined
Banco Santander generated €128.40B from operations and spent €56.66B on capital expenditure, dividends and share buybacks. 79% of that went back into the business.
Generated
€128.40B
Used
€56.66B
Capital expenditure€44.88B79%Dividends€11.78B21%Share buybacks€00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin8.9%
×Asset turnover0.05×
×Equity multiplier12.52×
=Return on equity, FY20176.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2017 | 8.9% | 0.05× | 12.52× | 6.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero€14.10B
- Cash generatingOperating cash flow above zero-€14.84B
- Return on assets improvedROA up on the prior year0.7% → 0.8%
- Earnings backed by cashOperating cash flow above net income-€14.84B vs €14.10B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise15.57B → 14.98B
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose– → –