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SAN

Banco Santander, S.A.

SAN

Banco Santander, S.A. • NYSE
$10.75 ▲ 0.66% (+0.07)
Market Cap $159.85 B
52w High $11.13
52w Low $4.43
Dividend Yield 0.26%
P/E 11.08
Volume 1.13M
Outstanding Shares 14.87B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $14.177B ▼ $6.672B ▲ $3.504B ▲ 24.716% ▲ $0.082 ▼ $5.453B ▲
Q2-2025 $14.332B ▼ $6.47B ▼ $3.431B ▲ 23.939% ▲ $0.17 ▼ $5.219B ▼
Q1-2025 $31.577B ▲ $7.742B ▼ $3.402B ▲ 10.774% ▼ $0.21 ▲ $6.041B ▲
Q4-2024 $15.812B ▲ $8.092B ▲ $3.265B ▲ 20.649% ▼ $0.2 $5.424B ▼
Q3-2024 $14.941B $7.075B $3.25B 21.752% $0.2 $5.733B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $343.459B ▼ $1.841T ▲ $1.731T ▲ $101.077B ▲
Q2-2025 $351.61B ▼ $1.816T ▼ $1.707T ▼ $100.501B ▼
Q1-2025 $376.149B ▲ $1.845T ▲ $1.735T ▲ $101.385B ▲
Q4-2024 $237.413B ▼ $1.837T ▲ $1.73T ▲ $98.601B ▲
Q3-2024 $362.745B $1.802T $1.697T $96.599B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $3.597B ▲ $0 ▼ $0 ▲ $0 ▲ $0 ▲ $0 ▼
Q2-2025 $3.431B ▲ $20.718B ▲ $-42M ▲ $-4.144B ▼ $-166.948B ▼ $19.486B ▲
Q1-2025 $3.402B ▲ $-18.114B ▼ $-521M ▼ $-3.914B ▲ $-25.26B ▼ $-20.084B ▼
Q4-2024 $3.265B ▲ $22.973B ▲ $-406M ▲ $-3.915B ▼ $22.831B ▼ $20.689B ▲
Q3-2024 $3.25B $13.044B $-1.005B $2.578B $169.377B $11.572B

Five-Year Company Overview

Income Statement

Income Statement Santander’s income statement shows a clear recovery story over the past five years. After a difficult year with losses early in the period, both revenue and profit have grown steadily each year, and earnings are now solidly positive. Profitability has improved as costs have been kept under control while income has risen, which points to better efficiency and scale benefits. The bank now generates meaningfully higher profits than before the downturn, but as a large global bank it still remains sensitive to interest rate cycles, credit losses, and economic conditions in its key countries.

Balance Sheet

Balance Sheet The balance sheet has expanded gradually, with total assets increasing over time, reflecting growth in lending and other banking activities. Equity has also grown, but at a slower pace than assets, which means leverage has inched higher, a common but important risk factor for large banks. Cash and liquid resources remain sizeable, giving the group flexibility, but reported debt and other funding sources have risen noticeably, which underscores the need for careful risk and liquidity management. Overall, the balance sheet looks consistent with a large, diversified international bank: broad and deep, but complex and reliant on stable funding markets and prudent credit risk controls.

Cash Flow

Cash Flow Cash flows are more volatile than the income statement, which is typical for a large bank. Earlier in the period, operating and free cash flows were strongly positive, supporting internal growth and investment. More recently, operating cash flow has swung into negative territory and free cash flow has weakened, likely reflecting changes in loans, deposits, and other working capital movements rather than a simple deterioration in profitability. These swings are not unusual in banking but do mean that headline cash flow figures should be interpreted with care and watched over time for any persistent stress signals.

Competitive Edge

Competitive Edge Santander holds a strong competitive position built on global scale, wide diversification, and a well-known brand. It operates across major markets in Europe and the Americas, serving a very large customer base, which helps smooth out local economic ups and downs and creates cross-selling opportunities. Its investments in technology, digital platforms, and payments give it tools to compete effectively against both traditional banks and fintech challengers. At the same time, operating in many regions exposes the bank to multiple regulatory regimes, political risks, and varying economic cycles, which adds complexity and execution risk.

Innovation and R&D

Innovation and R&D The bank is clearly leaning into digital innovation as a core part of its strategy. The in‑house Gravity core banking platform aims to modernize its technology backbone, speed up product launches, improve customer experience, and cut IT and energy costs. Openbank, its fully digital bank, and PagoNxt, its global payments platform, show a push to build scalable, tech‑driven businesses in retail banking and payments. AI‑enabled investment tools, digital advisory services, and a focus on sustainable finance and themed investment products (like Future Wealth and Future Planet) suggest a long‑term effort to differentiate on digital experience, data use, and ESG positioning. The main risk is execution: integrating and scaling these platforms across many countries is complex and can take longer or cost more than planned.

Summary

Overall, Santander appears to be in a much stronger position than it was five years ago. Profits have recovered and grown, efficiency has improved, and the bank is actively reshaping itself around modern, digital platforms. Its global scale and diversification provide resilience and a solid base for growth, while its brand and technology investments help defend and extend its competitive position. On the risk side, higher leverage, complex international operations, volatile cash flows typical of banking, and the scale of its digital transformation all warrant ongoing attention. The story is one of a traditional global bank that has largely repaired past damage and is now betting heavily on technology and diversification to drive its next phase, with outcomes still dependent on economic conditions and successful execution of its strategy.

NEWS

November 6, 2025 · 10:00 AM UTC

Santander Bank Launches Navigator Global to Empower U.S. Businesses Expanding Internationally

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October 30, 2025 · 10:03 AM UTC

Santander's Openbank Celebrates First Year in the United States with More Than $6 Billion in Deposits

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October 14, 2025 · 5:13 PM UTC

KBRA Assigns Preliminary Ratings to Santander Mortgage Asset Receivable Trust 2025-CES1 (SAN 2025-CES1)

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