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UPDATED: Nov 14, 2025

Stock Analysis

SAN Logo
$10.93
-$0.10 |-0.91%
Day Range:
$10.89 - $11.13
Market Cap:
160.85B
P/E Ratio:
11.3034
Avg Value:
$7.78
Year Range:
$4.43 - $11.13
1
General Information
Santander's focus is on retail and commercial banking. Latin America is geographically the most significant operation, with Brazil making the largest contribution.

Its continental European business is mainly in Spain and Portugal. Santander's UK presence is the result of its acquisition of Abbey building society. In the US, Santander operates a vehicle finance business and a regional bank focused on the Northeastern states.

2
Banco Santander (SAN) Stock Graph
3
How We Grade Banco Santander (SAN)

We grade stocks based on past performance, their future growth potential, intrinsic value, dividend history, and overall financial health.

The chart below shows how we grade Banco Santander (SAN) across the board compared to its closest peers.

4
Benzinga Edge Rankings

Benzinga Edge stock rankings give you four critical scores to help you identify the strongest and weakest stocks to buy and sell.

61.34

Growth measures a stock's combined historical expansion in earnings and revenue across multiple time periods, with emphasis on both long-term trends and recent performance.

Momentum measures a stock's relative strength based on its price movement patterns and volatility over multiple timeframes, ranked as a percentile against other stocks.

Quality is a composite ranking that evaluates a company's operational efficiency and financial health by analyzing historical profitability metrics and fundamental strength indicators on a percentile basis relative to peers.

Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
5
Valuation

Earnings History (3 years)

It is important to look at a companies earnings history to see not only if they are profitable, but if their earnings are growing.
As you can see from the chart above, SAN's earnings have increased for the past three years, this is a positive sign for the stock.
6
Dividend
There are few things we like to see when evaluating the quality of a company's dividend history and future

Ideally, we would like to see a company have a long history of consistently high dividend payouts that have grown at a consistent rate. From here we want to be confident that this sort of dividend growth and consistency will persist into the future.

The chart below shows the historical trend in Banco Santander (SAN) dividend yield on an annual basis.

-15.23%
Banco Santander (SAN) saw a decrease in it's dividend yield since 2022
7
Past Performance
How has Banco Santander (SAN) performed over the past 5 years?

The two main factors that we consider when analyzing past performance is overall return and volatility

Using these two metrics, we can determine if this stock gave its investors enough return for the risk that they took on by owning it. This is measured by the sharpe ratio, which has been used as a primary measure of risk/reward trade-off for almost 60 years.

This ratio can be interpreted as the amount of return an investor has received for the amount of risk that they took on by owning the stock over that timeframe.

Banco Santander (SAN) sharpe ratio over the past 5 years is 2.3252 which is considered to be above average compared to the peer average of 1.4795

8
Company Financials
INCOME STATEMENT
The income statement also known as the profit and loss statement, primarily focuses on the company's revenues and expenses during a particular period.

The main purpose of an income statement is to convey details of profitability and business activities. Below, is SAN's income statement for the previous four years along with its trailing-twelve- month profit & loss.

FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Total Revenue
48.41
51.87
57.57
62.05
60.25
Operating Revenue
48.41
51.87
57.57
62.05
60.25
Cost Of Revenue
0.00
0.00
0.00
0.00
0.00
Gross Profit
0.00
0.00
0.00
0.00
0.00
Operating Expense
0.00
0.00
0.00
0.00
0.00
Selling General And Administration
18.10
19.65
20.95
21.43
21.41
Research and Development
0.00
0.00
0.00
0.00
0.00
Operating Income
0.00
0.00
0.00
0.00
0.00
Net Non-Operating Interest Income Expense
0.00
0.00
0.00
0.00
0.00
Other Income Expense
0.00
0.00
0.00
0.00
0.00
Other Non-Operating Income Expenses
0.00
0.00
0.00
0.00
0.00
Pre-Tax Income
14.55
15.25
16.46
19.03
18.86
Tax Provision
4.89
4.49
4.28
5.28
4.72
Net Income
8.12
9.61
11.08
12.57
13.60
Net Income Common Stockholders
7.56
9.61
11.08
12.57
13.60
Total Operating Income As Reported
0.00
0.00
0.00
0.00
0.00
Total Expenses
0.00
0.00
0.00
0.00
0.00
Net Income From Continuing And Discontinued Operation
8.12
9.61
11.08
12.57
13.60
Normalized Income
8.23
9.76
11.01
12.79
12.94
Interest Income
46.46
43.74
56.75
63.93
59.83
Interest Expense
13.09
0.00
0.00
0.00
0.00
Net Interest Income
33.37
38.62
43.26
46.67
44.30
EBIT
0.00
0.00
0.00
0.00
0.00
EBITDA
0.00
0.00
0.00
0.00
0.00
Reconciled Cost Of Revenue
0.00
0.00
0.00
0.00
0.00
Reconciled Depreciation
2.76
2.98
3.18
3.29
3.28
Normalized EBITDA
0.00
0.00
0.00
0.00
0.00
Tax Rate For Calcs
0.00
0.00
0.00
0.00
0.26
Tax Effect Of Unusual Items
-0.12
-0.06
0.03
-0.07
-0.04
BALANCE SHEET
The balance sheet is a snapshot of a companies financials during a particular period in time.

It breaks down what company owns (assets) and what a company owes (liabilities), in order to give investors an overview of its capital structure.

FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Total Assets
1,595.84
1,734.66
1,797.06
1,837.08
1,840.67
Current Assets
0.00
0.00
0.00
0.00
0.00
Total Non-Current Assets
0.00
0.00
0.00
0.00
0.00
Total Liabilities Net Minority Interest
1,498.78
1,637.07
1,692.82
1,729.75
1,730.75
Current Liabilities
0.00
0.00
0.00
0.00
0.00
Other Non-Current Liabilities
0.00
0.00
0.00
0.00
0.00
Total Equity Gross Minority Interest
97.05
97.58
104.24
107.33
109.91
Stockholders Equity
0.00
0.00
0.00
0.00
0.00
Total Capitalization
307.23
326.42
357.83
386.83
417.70
Common Stock Equity
86.93
89.10
95.42
98.60
101.08
Net Tangible Assets
70.35
70.46
75.55
79.34
83.79
Working Capital
0.00
0.00
0.00
0.00
0.00
Invested Capital
333.09
369.44
404.00
424.12
417.70
Tangible Book Value
70.35
70.46
75.55
79.34
83.79
Total Debt
249.02
282.96
310.98
327.72
316.62
Net Debt
11.36
33.11
61.68
107.63
35.25
Share Issued
17.34
16.79
16.18
15.15
14.89
Ordinary Shares Number
17.06
16.79
15.89
15.14
14.82
CASH FLOW STATEMENTS
A companies statement of cash flows gives an investor a break down of the cash inflows and outflows from a companies operations and investment activities.
FISCAL YEAR (BIL.)
2021 ($)
2022 ($)
2023 ($)
2024 ($)
TTM ($)
Cash Flow from Continuing Operating Activities
Net Income from Continuing Operations
Depreciation and Amortization
Deferred Tax
Deferred Income Tax
Stock-Based Compensation
Other Non-Cash Items
Change in Working Capital
Change in Receivables
Changes in Account Receivables
Change in Inventory
Change in Payables and Accrued Expense
Change in Payable
Change in Account Payable
Change in Other Current Assets
Change in Other Current Liabilities
Change in Other Working Capital
Cash Flow from Continuing Investing Activities
Net PPE Purchase and Sale
Net Business Purchase and Sale
Purchase of Business
Net Investment Purchase and Sale
Purchase of Investment
Sale of Investment
Net Other Investing Changes
Financing Cash Flow
Cash Flow from Continuing Financing Activities
Net Issuance Payments of Debt
Net Long-Term Debt Issuance
Long-Term Debt Issuance
Long-Term Debt Payments
Net Short-Term Debt Issuance
Net Common Stock Issuance
Common Stock Issuance
Common Stock Payments
Cash Dividends Paid
Net Other Financing Charges
End Cash Position
Changes in Cash
Beginning Cash Position
Capital Expenditure
Issuance of Capital Stock
Issuance of Debt
Repayment of Debt
Repurchase of Capital Stock
Free Cash Flow