Banco Bilbao Viscaya Argentaria S.A. (BBVA) vs Banco Santander, S.A. (SAN)

Banco Bilbao Viscaya Argentaria S.A. and Banco Santander, S.A. are both Banks Diversified companies. Banco Santander, S.A. is the larger, with a market value of $208.6B against $157.5B — 1.3× the size. Banco Santander, S.A. trades at the lower P/E: 11.6× against 13.1×. Banco Santander, S.A. grew revenue faster over the last twelve months: 76.4% against 19.1%. Banco Bilbao Viscaya Argentaria S.A. has the higher net margin (26.8% vs 14.0%) and the lower return on invested capital (0.00% vs 13.5%). Both pay a dividend; Banco Bilbao Viscaya Argentaria S.A. yields more (7.09% vs 6.02%). Across the 19 metrics below, Banco Bilbao Viscaya Argentaria S.A. leads on 11 and Banco Santander, S.A. on 8.

Valuation

Metric BBVA SAN Banks Diversified median
P/E 13.12 11.63 13.67
P/S 3.57 1.50 2.72
P/B 2.25 1.51 1.69
Price to free cash flow 4.53 n/m 4.53
EV/EBITDA n/m n/m —
EV/Sales 0.94 1.72 —
Earnings yield 7.62% 8.60% 7.33%
Free cash flow yield 22.07% (21.86%) 7.63%

Profitability

Metric BBVA SAN Banks Diversified median
Gross margin 100.00% 50.17% 67.18%
Operating margin 0.00% 0.00% 0.00%
Net margin 26.82% 14.00% 18.44%
Free cash flow margin 78.73% (32.77%) 1.96%
Return on equity 17.50% 14.66% 11.14%
Return on assets 1.25% 0.87% 0.74%
Return on invested capital 0.00% 13.45% 0.00%

Growth

Metric BBVA SAN Banks Diversified median
Revenue growth (TTM) 19.14% 76.39% 4.67%
EPS growth (last fiscal year) 9.34% 972.92% —
Revenue growth, 5-year CAGR 9.75% 15.04% 14.34%
Net income growth, 5-year CAGR 50.32% 0.00% 10.77%

Health

Metric BBVA SAN Banks Diversified median
Debt to equity 1.77 3.89 1.39
Current ratio 1.06 0.24 0.87
Net debt to EBITDA 0.00 0.00 0.00

Dividend

Metric BBVA SAN Banks Diversified median
Dividend yield 7.09% 6.02% 3.80%
Payout ratio 0.37 0.20 0.31

Size

Metric BBVA SAN Banks Diversified median
Market cap 157.54b 208.58b 186.46b

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