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Banco Santander SA ADR (SAN) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · BANKS - DIVERSIFIED · DATA UPDATED 2026-09-19

Banco Santander SA ADR (SAN) operates in the BANKS - DIVERSIFIED industry and is headquartered in Madrid, Spain with about 185,279 employees. Its market capitalization is roughly $208 billion. In the fiscal year ended 2025-12-31, SAN reported €119.9B in revenue and €14.1B in net income.

Banco Santander, S.A. provides various financial products and services to individuals, small and medium-sized enterprises, large corporations, and public entities worldwide.

Interactive charts & full statements → Open the SAN valuation workbench →

SAN Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-03-312025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Total Revenue€71.1B€119.9B€129.9B€121.9B€87.0B€61.5B€60.5B€72.6B€69.7B€71.3B€69.8B€71.7B€69.3B€66.0B€74.0B€74.6B€66.8B€67.6B€68.3B€58.2B€44.5B
Gross Profit€44.6B€48.0B€51.2B€47.0B€43.4B€41.0B€34.4B€41.7B€40.7B€40.4B€36.1B€37.1B€33.6B€29.5B€26.6B€34.5B€32.9B€29.6B€24.9B€23.7B€20.0B
Gross Margin %62.8%40.1%39.4%38.5%49.8%66.7%56.9%57.5%58.4%56.6%51.8%51.8%48.6%44.7%36.0%46.2%49.2%43.8%36.4%40.7%44.9%
Operating Income (EBIT)€18.3B€18.7B€19.0B€16.5B€15.2B€14.5B(€2.1B)€12.5B€14.2B€12.1B€10.8B€9.5B€10.7B€7.4B€3.6B€7.9B€12.1B€10.6B€10.8B€11.0B€7.7B
Operating Margin %25.8%15.6%14.6%13.5%17.5%23.6%-3.4%17.3%20.4%17.0%15.4%13.3%15.4%11.2%4.8%10.5%18.0%15.7%15.9%18.9%17.2%
Net Income€15.6B€14.1B€12.6B€11.1B€9.6B€8.1B(€8.8B)€6.5B€7.8B€6.6B€6.2B€6.0B€5.8B€4.2B€2.3B€5.3B€8.2B€8.9B€8.9B€9.1B€6.2B
Net Margin %22.0%11.8%9.7%9.1%11.0%13.2%-14.5%9.0%11.2%9.3%8.9%8.3%8.4%6.3%3.1%7.1%12.2%13.2%13.0%15.6%14.0%
EBITDA€21.4B€21.9B€22.3B€19.6B€18.2B€17.3B€734M€15.5B€16.6B€14.7B€13.1B€12.0B€13.0B€9.8B€5.7B€10.0B€14.0B€12.2B€12.1B€12.2B€8.7B
Earnings Per Share (EPS)€1.02€0.89€0.81€0.68€0.57€0.47€-0.51€0.38€0.46€0.41€0.40€0.40€0.46€0.36€0.22€0.55€0.85€0.94€1.10€1.19€0.84
Shares Outstanding (M)15,153M15,927M15,568M16,247M16,904M17,321M17,316M17,097M16,897M16,117M15,342M15,002M12,613M11,551M10,432M9,709M9,672M9,527M8,092M7,602M7,431M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SAN Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Total Revenue€29.7B€15.0B€12.1B€14.3B€31.6B€15.8B€14.9B€15.5B
Gross Profit€12.3B€11.8B€9.7B€10.9B€12.9B€12.7B€12.0B€12.0B
Gross Margin %41.3%78.8%79.9%75.9%40.9%80.3%80.3%77.8%
Operating Income (EBIT)€5.0B€4.9B€4.0B€4.4B€5.2B€4.6B€4.9B€4.9B
Operating Margin %17.0%32.9%32.9%30.8%16.4%29.1%32.9%31.8%
Net Income€5.5B€3.8B€3.0B€3.4B€3.4B€3.3B€3.2B€3.2B
Net Margin %18.4%25.1%24.7%23.9%10.8%20.6%21.8%20.7%
EBITDA€5.9B€5.7B€4.7B€5.2B€6.0B€5.4B€5.7B€5.8B
Earnings Per Share (EPS)€0.36€0.24€0.19€0.23€0.21€0.20€0.20€0.20
Shares Outstanding (M)15,153M15,686M15,927M14,869M16,200M16,325M16,250M16,035M

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SAN Free Cash Flow History

Cash flowTTM → 2026-03-312025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Cash from Operations (CFO)€13.8B(€14.8B)(€24.2B)€5.0B€27.7B€56.7B€66.2B€3.4B€3.4B€40.2B€21.8B€5.7B(€7.2B)(€34.9B)€24.3B€35.9B€51.9B(€18.0B)€15.8B€31.6B(€34.3B)
Capital Expenditures (CapEx)€4.6B€7.7B€8.5B€13.6B€10.8B€11.4B€8.5B€14.1B€12.2B€9.0B€8.3B€9.2B€7.9B€3.1B€3.9B€3.4B€5.1B€5.1B€3.5B€4.7B€2.4B
Free Cash Flow (FCF)€9.3B(€22.5B)(€32.6B)(€8.6B)€16.9B€45.3B€57.6B(€10.8B)(€8.8B)€31.2B€13.5B(€3.6B)(€15.1B)(€38.0B)€20.4B€32.5B€46.7B(€23.1B)€12.3B€27.0B(€36.7B)
FCF Margin %—————————————————————
Dividends Paid€18M€3.3B€3.0B€2.3B€1.8B€1.3B€4.1B€3.8B€3.1B€2.7B€2.3B€1.5B€909M€818M€1.3B€3.5B€4.1B€4.4B€4.2B€3.5B€2.2B

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SAN Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-302024-06-30
Cash from Operations (CFO)(€18.7B)€20.7B(€8.9B)€20.7B(€18.1B)€23.0B€13.0B(€13.3B)
Capital Expenditures (CapEx)€1.0B€1.2B€1.1B€1.2B€2.0B€2.3B€1.5B€2.1B
Free Cash Flow (FCF)(€19.7B)€19.5B(€10.0B)€19.5B(€20.1B)€20.7B€11.6B(€15.4B)
FCF Margin %————————
Dividends Paid——€18M——€1.5B——

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SAN Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-31
Total Assets€1.95T€1.87T€1.84T€1.80T€1.73T€1.60T€1.51T€1.52T€1.46T€1.44T€1.34T€1.34T€1.27T€1.12T€1.27T€1.25T€1.22T€1.11T€1.05T€912.9B€808.5B
Cash & Cash Equivalents—€179.3B€217.9B€246.9B€247.2B€234.8B€173.0B€128.5B€113.7B€111.0B€76.5B€77.8B€69.9B€6.7B€7.2B€97.1B€78.1B€35.3B€46.0B€31.2B€16.2B
Total Liabilities€1.84T€1.75T€1.73T€1.69T€1.64T€1.50T€1.42T€1.41T€1.35T€1.34T€1.24T€1.24T€1.18T€1.04T€1.19T€1.17T€1.14T€1.04T€989.6B€855.4B€754.6B
Total Debt (Short + Long-Term)€348.1B€536.1B€519.0B€355.3B€324.1B€272.7B€257.3B€294.6B€369.4B€366.5B€409.8B€321.3B€475.3B€448.3B€484.0B€451.0B€521.3B€567.9B€616.0B€625.7B€523.6B
Total Shareholders' Equity€109.3B€103.2B€98.6B€95.4B€97.6B€97.1B€91.3B€110.7B€96.5B€94.5B€90.9B€88.0B€80.8B€70.6B€71.8B€76.4B€75.0B€68.7B€57.6B€55.2B€39.8B

EUR; €M / €B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive SAN viewer.

SAN Metric Deep Dives

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