SAN financial statements
The full income statement, balance sheet, and cash-flow statement for Banco Santander S.A. Sponsored ADR (Spain) (SAN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Gross profit | 66.4B YoY+5.1% | 63.2B YoY+7.7% | 58.7B YoY+7.1% | 54.8B YoY-0.2% | 54.9B YoY+8.7% | |
| Operating income | — | — | — | — | 29.6B YoY+12.0% | |
| Pre-tax income | 21.1B YoY+12.6% | 18.8B YoY+15.7% | 16.2B YoY+1.2% | 16.0B YoY-6.8% | 17.2B YoY+827.1% | |
| Income tax | 5.34B YoY+1.9% | 5.24B YoY+24.9% | 4.20B YoY-11.0% | 4.72B YoY-18.5% | 5.79B YoY-9.8% | |
17.5B YoY+17.9% | 14.9B YoY+12.9% | 13.2B YoY+16.4% | 11.3B YoY-0.9% | 11.4B YoY+229.9% | ||
$1.02 YoY+22.5% | $0.83 YoY+18.1% | $0.70 YoY+24.7% | $0.56 YoY+9.5% | $0.52 YoY+184.1% | ||
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 179B YoY-10.8% | 200B YoY-17.8% | 244B YoY+2.6% | 238B YoY-0.6% | 239B YoY+27.0% | |
| Inventory | 8.22M YoY+31.4% | 6.26M YoY-19.2% | 7.75M YoY-33.9% | 11.7M YoY+72.0% | 6.82M YoY+11.3% | |
2.19T YoY+14.5% | 1.92T YoY-3.7% | 1.99T YoY+7.6% | 1.85T YoY+2.0% | 1.81T YoY-1.9% | ||
| Total liabilities | 2.06T YoY+14.3% | 1.80T YoY-3.7% | 1.87T YoY+7.4% | 1.75T YoY+2.5% | 1.70T YoY-1.9% | |
132B YoY+18.3% | 112B YoY-3.0% | 115B YoY+10.9% | 104B YoY-5.6% | 110B YoY-1.5% | ||
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
-16.8B YoY+35.8% | -26.1B YoY-582.0% | 5.42B YoY-81.4% | 29.1B YoY-56.6% | 67.0B YoY-11.1% | ||
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 4.62B YoY+5.7% | 4.37B YoY+30.0% | 3.36B YoY+56.0% | 2.16B YoY+10.8% | 1.95B YoY+125.2% | |
| Dividends paid | 4.79B YoY+20.5% | 3.98B YoY+22.3% | 3.25B YoY+31.8% | 2.47B YoY+6.4% | 2.32B YoY+146.3% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 172B YoY+149.4% | 69.1B YoY-0.6% | 69.5B YoY+35.9% | 51.2B YoY-10.3% | 57.1B YoY+7.9% | |
| P/E | 9.8× YoY+111.5% | 4.6× YoY-24.4% | 6.1× YoY+37.1% | 4.5× YoY-10.3% | 5.0× | |
| P/S | 2.1× YoY+149.4% | 0.8× YoY-0.6% | 0.8× YoY+35.9% | 0.6× YoY-10.3% | 0.7× YoY+7.9% | |
| P/B | 1.3× YoY+110.8% | 0.6× YoY-7.6% | 0.7× YoY+44.0% | 0.5× YoY-10.3% | 0.5× YoY+9.5% | |
10.2% YoY-52.7% | 21.5% YoY+32.3% | 16.3% YoY-27.1% | 22.3% YoY+11.5% | 20.0% | ||
2.8% YoY-51.7% | 5.8% YoY+18.6% | 4.9% YoY-2.5% | 5.0% YoY+22.6% | 4.1% YoY+128.4% | ||
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: SAN's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SAN filings on SEC EDGAR → Not investment advice.