Latest Ratios: P/E Ratio 14.8x · EV/EBITDA 19.0x · ROE 18.4%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.2B | $14.7B | $8.9B | $9.2B | $7.5B | $7.7B | $8.9B | $10.9B | $14.1B | $14.7B | $10.3B |
| Enterprise Value | $27.2B | $10.65T | $9.62T | $6.94T | $5.64T | $5.12T | $10.84T | $9.38T | $7.59T | $6.38T | $6.11T |
| P/E Ratio → | 14.82 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 |
| P/S Ratio | 5.48 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
| P/B Ratio | 2.72 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/FCF | 25.00 | 0.02 | 0.02 | — | — | — | — | 0.01 | 0.02 | — | 0.02 |
| P/OCF | 22.15 | 0.02 | 0.02 | — | — | — | — | 0.01 | 0.01 | — | 0.01 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.74 | 3.71 | 3.63 | 2.56 | 2.26 | 5.32 | 4.92 | 4.19 | 3.67 | 3.65 |
| EV / EBITDA | 19.02 | 7.72 | 7.88 | 8.31 | 5.47 | 4.28 | 13.47 | 10.42 | 9.01 | 8.02 | 9.36 |
| EV / EBIT | 21.08 | 8.55 | 8.91 | 10.04 | 6.26 | 4.77 | 15.59 | 11.81 | 9.95 | 8.89 | 10.40 |
| EV / FCF | — | 17.06 | 25.67 | — | — | — | — | 5.32 | 8.21 | — | 9.45 |
Margins and return-on-capital ratios measuring operating efficiency
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 | 48.8% | 48.8% | 42.6% | 30.4% | 39.1% | 58.5% | 58.3% | 56.3% | 56.6% | 58.2% | 52.6% |
| Operating Margin | 26.7% | 26.7% | 22.0% | 13.2% | 19.1% | 31.8% | 26.0% | 28.3% | 28.9% | 29.0% | 23.2% |
| Net Profit Margin | 21.9% | 21.9% | 17.4% | 11.1% | 16.8% | 25.0% | 20.5% | 22.0% | 22.5% | 22.8% | 18.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.4% | 18.4% | 16.0% | 11.3% | 16.9% | 20.7% | 15.2% | 18.4% | 18.7% | 18.7% | 16.7% |
| ROA | 1.5% | 1.5% | 1.2% | 0.8% | 1.2% | 1.4% | 1.0% | 1.4% | 1.6% | 1.5% | 1.3% |
| ROIC | 4.5% | 4.5% | 4.2% | 3.1% | 4.4% | 4.9% | 2.9% | 3.9% | 4.5% | 4.5% | 3.9% |
| ROCE | 3.4% | 3.4% | 2.0% | 1.0% | 1.7% | 2.3% | 1.3% | 2.4% | 2.9% | 2.0% | 2.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.77 | 2.77 | 2.75 | 2.39 | 2.20 | 2.34 | 3.97 | 3.91 | 3.13 | 2.83 | 3.20 |
| Debt / EBITDA | 11.50 | 11.50 | 12.06 | 15.21 | 10.57 | 8.68 | 18.26 | 15.10 | 12.07 | 11.08 | 14.20 |
| Net Debt / Equity | — | 1.85 | 1.79 | 1.30 | 1.13 | 1.16 | 2.92 | 2.69 | 2.33 | 2.05 | 2.10 |
| Net Debt / EBITDA | 7.71 | 7.71 | 7.87 | 8.30 | 5.46 | 4.28 | 13.46 | 10.40 | 8.99 | 8.00 | 9.34 |
| Debt / FCF | — | 17.04 | 25.65 | — | — | — | — | 5.31 | 8.19 | — | 9.43 |
| Interest Coverage | 0.69 | 0.69 | 0.47 | 0.21 | 0.36 | 0.97 | 1.09 | 0.88 | 0.92 | 0.98 | 0.69 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.21 | 0.21 | 0.29 | 21.24 | 26.69 | 0.44 | 47.08 | 39.23 | 0.26 | 31.65 | 46.72 |
| Quick Ratio | 0.21 | 0.21 | 0.29 | 21.24 | 26.69 | 0.44 | 47.08 | 39.23 | 0.26 | 31.65 | 46.72 |
| Cash Ratio | 0.16 | 0.16 | 0.17 | 11.26 | 11.90 | 0.19 | 16.01 | 18.88 | 0.12 | 11.60 | 18.04 |
| Asset Turnover | — | 0.07 | 0.07 | 0.07 | 0.07 | 0.05 | 0.05 | 0.06 | 0.07 | 0.07 | 0.07 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 | 3.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Payout Ratio | 55.9% | 55.9% | 40.7% | 83.7% | 58.7% | 36.9% | 60.5% | 57.4% | 71.2% | 58.7% | 70.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.7% | 7187.4% | 9607.6% | 5397.6% | 10606.1% | 10976.1% | 6129.5% | 5704.4% | 4200.7% | 3837.5% | 4590.8% |
| FCF Yield | 4.0% | 4260.3% | 4216.7% | — | — | — | — | 16242.5% | 6563.8% | — | 6274.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Shares Outstanding | — | $471M | $471M | $471M | $471M | $471M | $471M | $471M | $471M | $471M | $471M |
Includes 30+ ratios · 28 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BSAC stock.
Banco Santander-Chile's current P/E ratio is 14.8x. The historical average is 0.0x. This places it at the 100th percentile of its historical range.
Banco Santander-Chile's current EV/EBITDA is 19.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.9x.
Banco Santander-Chile's return on equity (ROE) is 18.4%. The historical average is 19.7%.
Based on historical data, Banco Santander-Chile is trading at a P/E of 14.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Banco Santander-Chile's current dividend yield is 3.66% with a payout ratio of 55.9%.
Banco Santander-Chile has 48.8% gross margin and 26.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Banco Santander-Chile's Debt/EBITDA ratio is 11.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
UF inflation normalization impact
Premium Valuation Hinges on ROE Durability
BSAC trades at 2.64x book, a premium to regional peers, implying sustained high returns. According to recent financial statements, ROE has been volatile, averaging around 5% over the past year, which may not justify the multiple.
The P/B of 2.64 is above BCH's 2.86? Actually, BCH is 2.86, so BSAC is slightly lower, but still high relative to Brazilian peers like ITUB at 1.93 and BBD at 0.91. This premium likely reflects BSAC's low-cost deposit franchise and digital initiatives, but the market may be pricing in a return to the 18-20% ROE seen historically. However, recent ROE has been in the 4-7% range, suggesting that if this persists, the valuation could compress. Investors should monitor whether the current ROE is a trough or a new normal.
ROE Decomposition Reveals NIM Pressure
As reported in financial statements, BSAC's ROE averaged 5.3% over the last four quarters, with NIM compressing to 0.6% in 2026Q2 from 1.0% in 2025Q4, indicating asset yields are repricing faster than funding costs.
The DuPont analysis shows that ROE is driven by a thin NIM, offset by a low efficiency ratio (20.8% in 2026Q2) and a high equity multiplier (equity/assets of 7%). However, the NIM compression is concerning as it suggests that the bank's asset yields are falling faster than its funding costs, likely due to UF normalization. The efficiency ratio's volatility (swinging from 20.8% to 54.1%) indicates that non-interest income is unstable, possibly due to treasury gains/losses. This makes the quality of earnings less predictable.
NIM Compression and Efficiency Volatility
Based on reported figures, BSAC's NIM fell to 0.6% in 2026Q2 from 1.0% in 2025Q4, while the efficiency ratio swung from 20.8% to 54.1% in the same period, reflecting both rate pressure and non-interest income volatility.
The NIM decline is a key concern, as it suggests that the bank's asset yields are repricing faster than its funding costs, likely due to the cooling of Chilean inflation and the resulting reduction in UF adjustments. The efficiency ratio's volatility is partly due to the inclusion of treasury and hedging results in the Corporate Activities segment, which can distort the underlying cost structure. Excluding these, the core efficiency ratio appears to be in the mid-40s, which is still competitive. However, if NIM continues to compress, the bank may struggle to maintain its current profitability levels.
Basel III Implementation May Constrain Payouts
According to recent SEC filings, BSAC's equity/assets ratio is 7%, but the implementation of Basel III in Chile may necessitate higher Tier 1 capital, potentially limiting the bank's ability to maintain its historically high dividend payout.
The current equity/assets ratio of 7% is relatively low, and with Basel III requirements phasing in, BSAC may need to retain more earnings to build capital. This could pressure the dividend payout, which was 165% of net income in 2026Q2, a level that appears unsustainable if capital requirements increase. Investors should monitor the bank's CET1 ratio and management's guidance on capital return. The parent-subsidiary dynamic with Santander Spain may also influence capital allocation decisions, potentially at the expense of minority shareholders.
Credit Quality Stable but Provisioning Volatile
As reported in financial statements, BSAC's loan loss provisions were $125.8B in 2026Q2, stable YoY, but negative provisions in 2026Q1 and 2024Q3 highlight the impact of voluntary provisions on earnings volatility.
The stability in provisions suggests that credit quality is not deteriorating significantly, but the negative provisions indicate that management is using voluntary provisions to smooth earnings. This practice can obscure the true credit risk and may lead to surprises if the economic environment weakens. With sluggish growth in Chile, the consumer segment could see rising NPLs, which would require higher provisioning. The current reserve levels appear adequate, but investors should watch for any signs of stress in the retail portfolio.
P/E Misleading Due to Provision Volatility
The P/E ratio of 14.39 is often used to value BSAC, but it is distorted by volatile provisions and non-cash UF adjustments. According to recent financial statements, net income swings are driven by these factors, making P/E unreliable.
For banks, P/B is the more appropriate valuation metric, as it reflects the book value of the loan book and capital position. BSAC's P/B of 2.64 is high, but it may be justified if the bank can sustain high returns on tangible equity. However, the recent ROE of around 5% is far below the historical 18-20%, suggesting that the market is pricing in a recovery. Investors should focus on ROTCE and the sustainability of NIM rather than P/E, which can be artificially depressed or inflated by one-time items. The UF accounting also creates non-cash gains that inflate earnings, so cash-based metrics may be more informative.