Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Financial Ratios
35 years of historical data (1991–2025) · Financial Services · Banks - Diversified
EV/EBITDA
↓
5.29
↓-36% vs avg
5yr avg: 8.31
30Y Low1.2·High67.4
P/FCF
↑
7.50
↑+29% vs avg
5yr avg: 5.80
30Y Low0.9·High94.5
P/B Ratio
↑
1.82
↑+61% vs avg
5yr avg: 1.14
30Y Low0.7·High4.3
ROE
↑
17.3%
↓+20% vs avg
5yr avg: 14.4%
30Y Low2%·High26%
Debt/EBITDA
↓
4.61
↓-54% vs avg
5yr avg: 9.94
30Y Low4.6·High49.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BBVA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Banco Bilbao Vizcaya Argentaria, S.A. trades at 11.2x earnings, 35% above its 5-year average of 8.3x, sitting at the 23rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a discount of 16%. On a free-cash-flow basis, the stock trades at 7.5x P/FCF, 29% above the 5-year average of 5.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $124.5B | $139.2B | $56.1B | $54.2B | $37.2B | $37.6B | $32.9B | $37.1B | $35.1B | $57.0B | $44.6B |
| Enterprise Value | $110.2B | $127.1B | $140.6B | $151.0B | $67.6B | $79.1B | $70.8B | $103.5B | $78.7B | $110.8B | $114.0B |
| P/E Ratio → | 11.17 | 13.79 | 5.79 | 7.06 | 6.13 | 8.76 | 35.29 | 11.87 | 6.96 | 18.48 | 13.54 |
| P/S Ratio | 2.87 | 3.77 | 1.58 | 0.93 | 0.92 | 1.20 | 1.09 | 1.05 | 1.00 | 1.53 | 1.21 |
| P/B Ratio | 1.82 | 2.25 | 0.93 | 0.98 | 0.74 | 0.77 | 0.66 | 0.68 | 0.66 | 1.07 | 0.81 |
| P/FCF | 7.50 | 9.84 | — | — | 1.75 | — | 0.86 | — | 4.90 | 79.81 | 9.56 |
| P/OCF | 7.09 | 9.30 | — | — | 1.57 | — | 0.84 | — | 4.05 | 27.73 | 6.74 |
P/E links to full P/E history page with 30-year chart
BBVA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Banco Bilbao Vizcaya Argentaria, S.A.'s enterprise value stands at 5.3x EBITDA, 36% below its 5-year average of 8.3x. The Financial Services sector median is 11.4x, placing the stock at a 54% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.44 | 3.96 | 2.59 | 1.67 | 2.53 | 2.35 | 2.94 | 2.23 | 2.97 | 3.10 |
| EV / EBITDA | 5.29 | 7.16 | 8.30 | 10.92 | 5.83 | 9.33 | 10.83 | 12.27 | 9.15 | 13.33 | 14.58 |
| EV / EBIT | 5.79 | 7.83 | 9.13 | 12.16 | 6.58 | 10.92 | 13.48 | 14.68 | 10.40 | 15.99 | 17.83 |
| EV / FCF | — | 8.99 | — | — | 3.18 | — | 1.85 | — | 10.98 | 155.24 | 24.43 |
BBVA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Banco Bilbao Vizcaya Argentaria, S.A. earns an operating margin of 43.9%, significantly above the Financial Services sector average of 21.2%. Operating margins have expanded from 21.3% to 43.9% over the past 3 years, signaling improving operational efficiency. ROE of 17.3% indicates solid capital efficiency, compared to the sector median of 9.4%. ROIC of 7.0% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.6% | 83.6% | -18.8% | 49.8% | 61.1% | 63.8% | 56.3% | 55.9% | 56.5% | 60.0% | 61.1% |
| Operating Margin | 43.9% | 43.9% | 43.4% | 21.3% | 25.4% | 23.1% | 17.5% | 20.0% | 21.5% | 18.6% | 17.4% |
| Net Profit Margin | 28.5% | 28.5% | 28.3% | 13.8% | 15.7% | 14.9% | 4.3% | 10.0% | 15.3% | 9.4% | 9.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.3% | 17.3% | 17.4% | 15.2% | 12.8% | 9.4% | 2.5% | 6.5% | 10.2% | 6.5% | 6.3% |
| ROA | 1.3% | 1.3% | 1.3% | 1.1% | 0.9% | 0.7% | 0.2% | 0.5% | 0.8% | 0.5% | 0.5% |
| ROIC | 7.0% | 7.0% | 5.3% | 4.7% | 4.7% | 3.3% | 2.4% | 3.2% | 3.6% | 3.1% | 2.6% |
| ROCE | 7.6% | 7.6% | 7.8% | 6.2% | 4.8% | 2.8% | 2.0% | 3.3% | 3.4% | 2.8% | 2.6% |
BBVA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Banco Bilbao Vizcaya Argentaria, S.A. carries a Debt/EBITDA ratio of 4.6x, which is highly leveraged (12% above the sector average of 4.1x). The company holds a net cash position — cash of $94.0B exceeds total debt of $81.8B, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.32 | 1.32 | 2.41 | 3.25 | 2.27 | 2.38 | 2.22 | 2.11 | 2.02 | 1.95 | 2.14 |
| Debt / EBITDA | 4.61 | 4.61 | 8.53 | 12.98 | 9.89 | 13.69 | 16.95 | 13.75 | 12.44 | 12.50 | 15.16 |
| Net Debt / Equity | — | -0.20 | 1.41 | 1.75 | 0.60 | 0.85 | 0.76 | 1.21 | 0.82 | 1.01 | 1.25 |
| Net Debt / EBITDA | -0.68 | -0.68 | 4.99 | 7.00 | 2.62 | 4.90 | 5.80 | 7.87 | 5.07 | 6.47 | 8.87 |
| Debt / FCF | — | -0.86 | — | — | 1.43 | — | 0.99 | — | 6.08 | 75.43 | 14.87 |
| Interest Coverage | — | — | 0.42 | 0.50 | 0.83 | 0.87 | 0.67 | 0.59 | 0.65 | 0.60 | 0.60 |
Net cash position: cash ($94.0B) exceeds total debt ($81.8B)
BBVA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.44x is below 1.0, meaning current liabilities exceed current assets — though the company's $94.0B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.35x to 0.44x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.44 | 0.44 | 0.32 | 0.35 | 0.40 | 0.38 | 0.52 | 0.41 | 0.42 | 0.41 | 0.41 |
| Quick Ratio | 0.44 | 0.44 | 0.32 | 0.35 | 0.40 | 0.38 | 0.52 | 0.41 | 0.42 | 0.41 | 0.41 |
| Cash Ratio | 0.15 | 0.15 | 0.10 | 0.14 | 0.17 | 0.17 | 0.17 | 0.10 | 0.14 | 0.11 | 0.10 |
| Asset Turnover | — | 0.04 | 0.05 | 0.08 | 0.06 | 0.05 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
BBVA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Banco Bilbao Vizcaya Argentaria, S.A. returns 5.4% to shareholders annually — split between a 3.6% dividend yield and 1.8% buyback yield. The payout ratio of 38.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 9.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.6% | 2.9% | 7.0% | 5.2% | 5.9% | 2.5% | 3.2% | 5.8% | 6.0% | 3.0% | 3.6% |
| Payout Ratio | 38.3% | 38.3% | 38.9% | 35.0% | 34.4% | 19.9% | 81.6% | 61.1% | 39.0% | 48.3% | 46.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.0% | 7.3% | 17.3% | 14.2% | 16.3% | 11.4% | 2.8% | 8.4% | 14.4% | 5.4% | 7.4% |
| FCF Yield | 13.3% | 10.2% | — | — | 57.2% | — | 116.3% | — | 20.4% | 1.3% | 10.5% |
| Buyback Yield | 1.8% | 1.4% | 2.7% | 4.0% | 8.0% | 2.7% | 2.5% | 2.9% | 4.8% | 2.9% | 4.5% |
| Total Shareholder Yield | 5.4% | 4.3% | 9.7% | 9.2% | 13.9% | 5.2% | 5.7% | 8.7% | 10.8% | 5.9% | 8.1% |
| Shares Outstanding | — | $6.0B | $5.8B | $6.0B | $6.2B | $6.4B | $6.7B | $6.6B | $6.6B | $6.7B | $6.6B |
Peer Comparison
Compare BBVA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BBVAYou | $124B | 11.2 | 5.3 | 7.5 | 83.6% | 43.9% | 17.3% | 7.0% | 4.6 |
 SAN | $182B | 12.1 | 21.6 | — | 40.0% | 15.6% | 12.8% | 2.3% | 22.7 |
 ING | $86B | 12.0 | 20.8 | — | 94.3% | 39.7% | 12.4% | 3.1% | 18.5 |
 ITUB | $93B | 10.6 | 20.9 | 3.6 | 34.5% | 13.1% | 20.6% | 3.2% | 17.6 |
 BSBR | $45B | 18.1 | 7.7 | 165.5 | 27.5% | 11.0% | 10.4% | 4.9% | 6.7 |
 UBS | $140B | 24.2 | 30.0 | — | 63.6% | 11.9% | 7.0% | 1.2% | 37.3 |
 DB | $61B | 8.8 | 13.9 | — | 49.9% | 16.0% | 8.7% | 2.6% | 26.2 |
 C | $223B | 21.4 | 25.1 | — | 41.7% | 10.0% | 6.1% | 1.6% | 27.7 |
 BAC | $408B | 14.0 | 14.8 | 32.3 | 55.4% | 18.5% | 10.2% | 3.2% | 10.0 |
 JPM | $849B | 15.9 | 13.6 | — | 58.6% | 27.7% | 17.4% | 5.4% | 9.0 |
 HSBC | $314B | 15.1 | 16.4 | 12.5 | 54.6% | 20.3% | 11.8% | 4.0% | 15.5 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonBBVA — Frequently Asked Questions
Quick answers to the most common questions about buying BBVA stock.
What is Banco Bilbao Vizcaya Argentaria, S.A.'s P/E ratio?
Banco Bilbao Vizcaya Argentaria, S.A.'s current P/E ratio is 11.2x. The historical average is 36.6x. This places it at the 23th percentile of its historical range.
What is Banco Bilbao Vizcaya Argentaria, S.A.'s EV/EBITDA?
Banco Bilbao Vizcaya Argentaria, S.A.'s current EV/EBITDA is 5.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.6x.
What is Banco Bilbao Vizcaya Argentaria, S.A.'s ROE?
Banco Bilbao Vizcaya Argentaria, S.A.'s return on equity (ROE) is 17.3%. The historical average is 12.6%.
Is BBVA stock overvalued?
Based on historical data, Banco Bilbao Vizcaya Argentaria, S.A. is trading at a P/E of 11.2x. This is at the 23th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Banco Bilbao Vizcaya Argentaria, S.A.'s dividend yield?
Banco Bilbao Vizcaya Argentaria, S.A.'s current dividend yield is 3.57% with a payout ratio of 38.3%.
What are Banco Bilbao Vizcaya Argentaria, S.A.'s profit margins?
Banco Bilbao Vizcaya Argentaria, S.A. has 83.6% gross margin and 43.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Banco Bilbao Vizcaya Argentaria, S.A. have?
Banco Bilbao Vizcaya Argentaria, S.A.'s Debt/EBITDA ratio is 4.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.