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Friday 6 November 2026 Export SAN’s income statement to Excel — free account

Banco Santander, S.A.

SAN Financial Banks Diversified

Banco Santander, S.A.’s revenue for fiscal 2025 (year ended December 2025) was $133.5 billion, down 3.54% from fiscal 2024.

Revenue
−73.3%
EPS
−3.70%
Free cash flow
+381.0%

Quarter to September 2026, against a year earlier

12.04 0.03 −0.25%
Market cap
$174.7B
P/E
9.8×
Fwd P/E
9.4×
Dividend yield
2.41%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Banco Santander, S.A. (SAN) P/B ratio

Alert me on P/B ratio

As of 5 November 2026, Banco Santander, S.A. (SAN) trades at a P/B ratio of 1.3×. Over the past ten years it has ranged from 0.3× (May 2020) to 8.1× (July 2018); the current reading is higher than 91% of that period. That is below the Banks Diversified industry median of 1.5× and in line with the Financial sector median of 1.3×.

P/B ratio, daily

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Annual newest first

Period P/B ratio Change
FY2025 1.4× 116.34%
FY2024 0.6× 5.89%
FY2023 0.6× 21.58%
FY2022 0.5× (7.49%)
FY2021 0.5× 0.25%
FY2020 0.5× (23.14%)
FY2019 0.7× 19.20%
FY2018 0.6× (31.74%)
FY2017 0.8× 24.01%
FY2016 0.7× 0.72%

Quarterly newest first

Period P/B ratio Change
Sep 2026 1.5× 5.08%
Jun 2026 1.4× 15.73%
Mar 2026 1.2× (9.06%)
Dec 2025 1.4× 10.16%
40 more quarters

Against its own ten years

Low 0.3× High 8.1×
Ten-year median 0.7×
Current reading's percentile 91

P/B ratio against peers

Company P/B ratio
C Citigroup Inc. compare 1.1×
SAN Banco Santander, S.A. 1.3×
SMFG Sumitomo Mitsui Financial Group Inc compare 1.5×
HSBC HSBC Holdings plc compare 1.5×
MUFG Mitsubishi UFJ Financial Group, Inc. compare 1.6×
WFC Wells Fargo & Company compare 1.6×
UBS UBS Group AG compare 1.7×
BBVA Banco Bilbao Viscaya Argentaria S.A. compare 2.1×
BNY BNY compare 2.5×
Banks Diversified industry median 1.5×
Financial sector median 1.3×
Market median 1.7×

What P/B ratio is

Price to Book Value tells an investor how much the market pays for a company’s shares relative to the accounting net worth that belongs to common shareholders.

Stock Price ÷ (Common Equity (Total) (latest quarter) ÷ Shares (Basic, Weighted) (latest quarter))

The full definition of P/B ratio →

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