Banco Santander, S.A.
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
12.5011.8210.7013.97
Price/Sales ratio
2.822.762.292.64
Earnings per Share (EPS)
$0.76$0.80$0.89$0.68

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
14.369.9711.4112.697.739.26-5.606.154.835.755.719.26
Price/Sales ratio
1.961.451.551.691.211.150.921.030.851.420.561.15
Price/Book Value ratio
1.030.740.770.880.620.600.530.570.520.660.720.62
Price/Cash Flow ratio
-21.205.093.242.0917.6817.810.650.881.6712.7022.1717.68
Price/Free Cash Flow ratio
-7.0418.085.252.69-6.88-5.610.741.102.75-7.3820.73-6.88
Price/Earnings Growth ratio
0.68-1.52-1.22N/A0.33-0.340.02-0.030.210.380.050.05
Dividend Yield
1.08%2.28%3.25%3.17%5.16%6.24%N/A2.62%3.98%3.54%5.39%5.16%
Profitability Indicator Ratios
Gross Profit Margin
100%100%100%100%100.05%100%100%100%100%133.13%74.84%100%
Operating Profit Margin
81.52%72.26%73.42%65.01%65.77%20.91%-6.70%26.89%86.50%44.47%11.97%20.91%
Pretax Profit Margin
22.85%24.27%23.56%24.37%28.58%23.97%-4.43%30.05%28.12%36.77%15.64%23.97%
Net Profit Margin
13.67%14.57%13.57%13.34%15.71%12.45%-16.46%16.78%17.71%24.74%10.61%12.45%
Effective Tax Rate
27.73%28.52%30.47%32.12%34.40%35.29%-271.29%33.64%29.41%25.97%27.54%35.29%
Return on Assets
0.45%0.48%0.46%0.45%0.53%0.42%-0.51%0.50%0.55%0.61%0.67%0.53%
Return On Equity
7.19%7.45%6.82%7.00%8.09%6.51%-9.46%9.34%10.77%11.60%12.79%8.09%
Return on Capital Employed
2.75%2.44%2.51%2.24%2.25%0.72%-0.20%0.82%2.72%1.10%0.76%0.72%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/A0.26N/AN/AN/AN/AN/A
Quick Ratio
9.0410.2640.8849.3750.1633.1751.6058.8655.96N/AN/A33.17
Cash ratio
9.0410.2610.0513.8216.6310.1118.0323.1521.17N/AN/A10.11
Days of Sales Outstanding
N/AN/AN/AN/AN/AN/AN/AN/AN/A86.6229.96N/A
Days of Inventory outstanding
N/AN/AN/AN/A2.98MN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
N/AN/AN/AN/A2.98MN/AN/AN/AN/A86.6229.96N/A
Days of Payables Outstanding
N/AN/AN/AN/A-26.33KN/AN/AN/AN/A-81.79N/A-26.33K
Cash Conversion Cycle
N/AN/AN/AN/A3.01MN/AN/AN/AN/A168.4229.96N/A
Debt Ratios
Debt Ratio
0.160.160.170.150.160.190.170.150.160.170.170.16
Debt Equity Ratio
2.642.562.512.302.552.943.152.833.143.233.332.55
Long-term Debt to Capitalization
0.720.710.710.690.710.720.740.730.750.730.760.71
Total Debt to Capitalization
0.720.710.710.690.710.740.750.730.750.760.760.71
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A0.80N/A
Cash Flow to Debt Ratio
-0.010.050.090.180.010.010.250.230.090.010.000.01
Company Equity Multiplier
15.6715.2214.7215.2815.1215.2118.5118.3519.4618.8318.6515.12
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-0.090.280.470.810.060.061.411.170.510.110.020.06
Free Cash Flow / Operating Cash Flow Ratio
3.000.280.610.77-2.56-3.170.870.790.60-1.721-2.56
Cash Flow Coverage Ratio
-0.010.050.090.180.010.010.250.230.090.010.000.01
Short Term Coverage Ratio
N/AN/AN/AN/AN/A0.103.00N/AN/A0.10N/A0.10
Dividend Payout Ratio
15.62%22.81%37.21%40.26%39.92%57.91%N/A16.16%19.24%20.41%N/A57.91%