Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Banco Santander, S.A. files with the SEC in its annual reports.
In EUR millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
74,159
74,182
Gross profit
48,424
49,229
44,279
46,404
52,117
54,251
58,380
58,670
General and administrative
18,737
20,400
20,354
20,279
18,320
18,659
20,918
21,546
21,970
21,533
Operating income
23,131
25,362
25,645
25,949
23,149
24,989
Pre-tax income
10,768
12,091
14,201
12,543
-2,076
14,547
15,250
15,005
17,347
18,681
Income tax
3,282
3,884
4,886
4,427
5,632
4,894
4,486
3,880
4,844
4,723
Income from continuing operations
7,486
8,207
9,315
8,116
-7,708
9,653
10,764
11,125
12,503
13,958
Net income to minority interests
1,282
1,588
1,505
1,601
1,063
1,529
1,159
1,107
1,170
1,399
Net income
6,204
6,619
7,810
6,515
-8,771
8,124
9,605
11,076
12,574
14,101
EBITDA
25,495
27,955
28,070
28,950
25,959
27,745
EPS, basic
0.38
0.39
0.43
0.35
-0.54
0.44
0.54
0.65
0.77
0.91
EPS, diluted
0.38
0.39
0.43
0.35
-0.54
0.44
0.54
0.65
0.77
0.90
Balance sheet
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
76,454
110,995
113,663
101,067
153,839
210,689
223,073
220,342
192,208
152,281
Inventory
1,116
1,964
147
5
5
6
11
7
6
7
Property, plant and equipment
20,770
20,650
24,594
34,262
31,772
32,342
33,044
32,926
31,212
Goodwill
26,724
25,769
25,466
24,246
12,471
12,713
13,741
14,017
13,438
11,958
Intangible assets
2,697
2,914
3,094
3,441
3,437
3,871
4,904
5,854
5,821
5,350
Total assets
1,339,125
1,444,305
1,459,271
1,522,695
1,508,250
1,595,835
1,734,659
1,797,062
1,837,081
1,867,515
Total liabilities
1,236,426
1,337,472
1,351,910
1,412,036
1,416,928
1,498,782
1,637,074
1,692,821
1,729,754
1,754,767
Paid-in capital
44,912
51,053
50,993
52,446
52,013
47,979
46,273
44,373
40,079
36,792
Shareholders' equity
105,978
116,265
118,613
122,103
Minority interests
11,761
12,344
10,889
10,588
9,846
10,123
8,481
8,818
8,726
9,578
Total equity
102,699
106,833
106,970
110,659
91,322
97,053
97,585
104,241
107,327
112,748
Total liabilities and equity
1,339,125
1,444,305
1,459,271
1,522,695
1,508,250
1,595,835
1,734,659
1,797,062
1,837,081
1,867,515
Cash flow statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
7,486
8,207
9,315
8,116
-7,708
9,653
10,764
12,183
13,744
15,500
Depreciation and amortization
2,364
2,593
2,425
3,001
2,810
2,756
2,985
3,086
3,179
3,178
Cash from operations
21,823
40,188
3,416
3,389
66,153
56,691
27,706
5,015
-24,155
-14,835
Capital expenditures
-6,572
-7,450
-10,726
-12,766
-7,386
-10,015
-9,066
-11,446
-8,494
-5,854
Cash from investing
-13,764
-4,008
3,148
-7,229
-7,220
-3,715
-3,898
-5,366
-3,712
534
Stock issued
7,072
0
0
0
0
0
0
0
0
Share buybacks
0
0
0
0
0
0
0
Dividends paid
-2,309
-2,665
-3,118
-3,773
0
-1,313
-1,848
-2,261
-3,017
-3,341
Cash from financing
-5,745
4,206
-3,301
-10,122
-1,909
-1,322
-9,964
-2,058
-5,510
-14,203
Exchange rate effect
-3,611
-5,845
-595
1,366
-4,252
5,196
-1,460
-322
5,243
-8,908
Net change in cash
-1,297
34,541
2,668
-12,596
52,772
56,850
12,384
-2,731
-28,134
-37,412
Free cash flow
15,251
32,738
-7,310
-9,377
58,767
46,676
18,640
-6,431
-32,649
-20,689
Interest paid
19,927
20,671
13,690
12,738
23,390
50,954
61,091
57,737
Income taxes paid
2,872
4,137
3,342
2,593
2,946
4,012
5,498
5,214
5,880
4,954
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.
Profitability
Metric
Value
How it is calculated
Effective tax rate
25.3%
Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)
0.8%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Gross profit growth, 1y
0.5%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
4.0%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
5.8%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
12.1%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
13.7%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y
17.2%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y
18.8%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
1.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
2.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
4.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Liabilities / assets
94.0%
Total liabilities / total assets.
Goodwill and intangibles / assets
0.9%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
FCF conversion
-146.7%
Free cash flow / net income, when net income is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
€0.90
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
€0.91
Net income per basic share, as reported (split-adjusted).
Payout ratio
23.7%
Dividends paid / net income, when net income is positive.
Was Banco Santander, S.A. profitable in fiscal 2025?
Yes. Net income was €14.10B, a net margin of -.
How much free cash flow did Banco Santander, S.A. generate in fiscal 2025?
Cash from operations of €14.84B minus capital expenditures of €5.85B left free cash flow of -€20.69B.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.