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Banco Santander, S.A.
Banco Santander, S.A. (SAN) is listed on NYSE and classified in Banks - Diversified, part of the Financial Services sector. It is headquartered in Madrid, Spain and has 185,279 employees. The company is worth $186.5B and trades at 12.5x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was €60.02B in fiscal 2025, down 0.5% from the year before. Net income was €14.1B. The share price is 14.3% below its 52-week high of $15.05. It pays a dividend yielding 2.17%. 3 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $38.87M. In that quarter, 2 of them opened or added to the position and 1 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Revenue, debt and profit are in EUR, the currency the company reports in — not converted to dollars. Dividends are in dollars.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +327.7% over 5Y.
today you would have $4,094.06▲ +309.4%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 4 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Year-end price | $11.73 | $4.56 | $4.14 | $2.95 | |
| EPS | €0.90 | €0.77 | €0.65 | €0.54 | |
| Dividend yield | 3.70% | 1.06% | 4.71% | 3.57% | 3.83% |
| Profit margin | 20.19% | 23.49% | 20.85% | 19.54% | 17.72% |
| ROE | 12.18% | 13.67% | 12.75% | 11.61% | 10.78% |
This company reports in EUR, and the stock trades in dollars. P/E, P/S, P/B and payout would divide dollars by EUR, so they are not shown; EPS is in EUR. Margin, ROE and dividend yield do not depend on the currency.
Median of the years shown; P/E years above 200x are left out.
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 0.0% a year plus a 2.2% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 1.4% a year against a 8.7% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
4 methods answered, across 2 families.
Room for errors in the reported numbers.
-54.7% from the average.
Models, not forecasts, and not investment advice. How each formula works →
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| BLKBlackRock, Inc. | $1,137.29 | 26.2x | 3.1x | 2.02% | — | $184.78B |
| TDToronto Dominion Bank | $125.12 | 18.5x | 2.3x | 2.54% | 12.83% | $204.32B |
| CCitigroup Inc | $122.51 | 12.1x | 1.1x | 2.19% | 9.35% | $205.5B |
| AXPAmerican Express Co | $325.17 | 19.6x | 6.4x | 1.17% | 34.38% | $219.59B |
| SCHWSchwab Charles Corp | $91.44 | 15.7x | 3.1x | 1.40% | 21.12% | $158.13B |
| SMFGSumitomo Mitsui Financial Group Inc | $24.09 | 13.9x | 1.5x | 2.45% | 8.57% | $151.1B |