Last 46 quarters of trend data · Financial Services · Banks - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 13.17 | 7.83 | 12.22 | 13.54 | 9.43 | 7.98 | 5.70 | 6.37 | 5.79 | 7.12 | 6.09 | 5.22 | 5.80 | 6.15 | 5.67 | 4.14 | 5.38 | 6.04 | 8.86 | 8.23 | 10.14 |
| — | -1.8% | +114.4% | +112.4% | +63.0% | +12.1% | -6.4% | +22.1% | -0.2% | +15.7% | +7.3% | +26.1% | +7.7% | +1.9% | -36.0% | -49.6% | -46.9% | -43.7% | — | +141.7% | — | |
| P/S Ratio | 2.78 | 2.77 | 3.07 | 3.39 | 2.15 | 1.69 | 1.18 | 1.39 | 1.20 | 1.23 | 1.24 | 1.02 | 1.11 | 1.07 | 5.48 | 0.72 | 2.39 | 1.14 | 1.22 | 1.40 | 1.51 |
| — | +63.7% | +160.9% | +144.1% | +79.7% | +37.2% | -5.1% | +36.0% | +7.7% | +15.3% | -77.4% | +41.4% | -53.5% | -6.5% | +350.3% | -48.3% | +58.7% | -9.4% | +8.7% | +107.7% | +71.2% | |
| P/B Ratio | 1.62 | 1.52 | 1.63 | 1.75 | 1.13 | 0.98 | 0.69 | 0.79 | 0.72 | 0.77 | 0.69 | 0.58 | 0.61 | 0.64 | 0.53 | 0.39 | 0.52 | 0.58 | 0.62 | 0.71 | 0.76 |
| — | +54.5% | +135.3% | +121.4% | +58.1% | +27.0% | +1.2% | +35.4% | +18.1% | +21.6% | +28.7% | +51.0% | +16.8% | +9.5% | -14.4% | -45.6% | -31.7% | -9.4% | +7.6% | +111.2% | +74.5% | |
| P/FCF | — | — | — | — | 1.58 | — | 0.90 | 1.79 | — | — | 4.06 | 2.60 | 9.47 | 10.02 | 8.66 | 6.04 | — | — | — | 2.35 | — |
| — | — | — | — | — | — | -77.8% | -31.1% | — | — | -53.1% | -57.0% | — | — | — | +156.8% | — | — | — | +252.4% | — | |
| EV / EBITDA | 22.21 | 19.96 | 22.08 | 10.42 | 7.04 | 5.56 | 15.67 | 4.92 | 5.06 | 4.83 | 7.21 | 0.92 | 1.91 | 7.93 | 6.60 | -1.38 | 0.39 | 0.62 | 8.84 | 2.06 | 6.35 |
| — | +259.2% | +40.9% | +111.7% | +39.1% | +15.0% | +117.4% | +435.4% | +165.3% | -39.1% | +9.3% | +166.7% | +386.2% | +1177.4% | -25.4% | -166.9% | -93.8% | -89.5% | -66.6% | -67.3% | — | |
| EV / EBIT | 25.99 | 23.25 | 25.47 | 12.20 | 8.32 | 6.47 | 18.47 | 5.74 | 5.91 | 5.71 | 8.64 | 1.08 | 2.27 | 9.57 | 8.01 | -1.66 | 0.47 | 0.73 | 10.44 | 2.43 | 7.51 |
| — | +259.2% | +37.9% | +112.7% | +40.8% | +13.4% | +113.9% | +428.9% | +160.0% | -40.4% | +7.8% | +165.3% | +384.0% | +1218.0% | -23.2% | -168.4% | -93.7% | -89.9% | -75.3% | -68.3% | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.0% | 41.3% | 78.8% | 79.9% | 75.9% | 40.9% | 80.3% | 80.3% | 77.8% | 39.6% | 75.8% | 78.0% | 78.9% | 40.6% | -4.9% | 76.9% | 21.0% | 59.2% | 66.5% | 64.8% | 68.7% |
| — | +0.9% | -1.8% | -0.5% | -2.3% | +3.4% | +5.8% | +3.0% | -1.4% | -2.6% | +1635.5% | +1.4% | +275.8% | -31.4% | -107.4% | +18.7% | -69.4% | -11.5% | +6.7% | +3.7% | +24.1% | |
| Operating Margin | 15.6% | 16.9% | 32.8% | 32.8% | 30.8% | 16.4% | 29.1% | 32.9% | 31.8% | 13.6% | 27.2% | 30.3% | 30.6% | 13.5% | 26.2% | 28.9% | 29.6% | 23.5% | 23.2% | 24.7% | 25.4% |
| — | +3.2% | +12.9% | -0.2% | -3.1% | +20.9% | +6.8% | +8.8% | +3.9% | +0.3% | +4.0% | +4.5% | +3.3% | -42.4% | +12.9% | +17.2% | +16.7% | +10.5% | +179.2% | +12.3% | +145.7% | |
| Net Margin | 11.8% | 18.4% | 25.1% | 24.7% | 23.9% | 10.8% | 20.6% | 21.8% | 20.7% | 8.5% | 20.4% | 19.7% | 19.2% | 9.1% | 17.2% | 18.2% | 18.6% | 14.3% | 13.8% | 14.1% | 13.8% |
| — | +70.6% | +21.7% | +13.6% | +15.6% | +27.5% | +1.4% | +10.1% | +7.9% | -7.0% | +18.5% | +8.3% | +3.1% | -36.6% | +24.7% | +29.1% | +35.2% | +29.9% | +615.3% | +15.2% | +118.5% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.8% | 4.8% | 3.6% | 2.9% | 3.1% | 3.1% | 3.1% | 3.1% | 3.1% | 2.7% | 2.8% | 2.8% | 2.6% | 2.6% | 2.3% | 2.5% | 2.4% | 2.6% | 2.4% | 2.3% | 2.2% |
| — | +55.0% | +18.5% | -5.3% | +1.7% | +14.6% | +8.6% | +10.0% | +16.0% | +4.5% | +21.8% | +15.0% | +10.9% | +0.8% | -1.5% | +8.3% | +8.9% | +48.1% | +678.6% | +18.9% | +119.5% | |
| ROA | 0.8% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.1% | 0.1% | 0.1% |
| — | +58.4% | +22.0% | -2.5% | +4.8% | +16.5% | +10.5% | +12.3% | +18.2% | +7.5% | +25.9% | +17.8% | +9.1% | -5.3% | -10.0% | -0.9% | +5.1% | +48.9% | +683.1% | +21.9% | +118.5% | |
| ROIC | 2.3% | 0.7% | 0.8% | 0.8% | 0.8% | 0.8% | 0.7% | 0.9% | 0.9% | 0.8% | 0.7% | 0.8% | 0.8% | 0.7% | 0.7% | 0.8% | 0.8% | 0.8% | 0.7% | 0.8% | 0.8% |
| — | -14.5% | +11.8% | -13.3% | -11.7% | -7.1% | -5.6% | +4.7% | +7.8% | +9.6% | +4.9% | +7.6% | +2.9% | -6.7% | -8.2% | -7.5% | -5.7% | +29.8% | +211.5% | +22.5% | +148.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.40 | 3.85 | 4.40 | 2.88 | 2.86 | 2.88 | 4.50 | 3.06 | 3.01 | 3.01 | 2.98 | 2.93 | 2.86 | 2.88 | 2.90 | 2.87 | 2.67 | 2.49 | 3.45 | 2.55 | 2.54 |
| — | +33.9% | -2.2% | -6.0% | -4.9% | -4.5% | +51.0% | +4.7% | +5.3% | +4.6% | +2.9% | +2.0% | +6.8% | +15.6% | -15.8% | +12.3% | +5.3% | -5.8% | -2.3% | -4.6% | -9.8% | |
| Debt / EBITDA | 22.72 | 74.14 | 87.50 | 58.06 | 59.77 | 52.68 | 89.12 | 56.15 | 54.21 | 58.50 | 66.15 | 57.43 | 57.45 | 62.06 | 66.75 | 61.44 | 58.15 | 50.83 | 73.93 | 54.47 | 53.93 |
| — | +40.8% | -1.8% | +3.4% | +10.3% | -10.0% | +34.7% | -2.2% | -5.6% | -5.7% | -0.9% | -6.5% | -1.2% | +22.1% | -9.7% | +12.8% | +7.8% | -21.6% | -56.3% | -14.9% | — | |
| Current Ratio | 0.25 | — | 0.25 | 0.32 | 0.33 | 0.33 | 21.49 | 0.33 | 0.32 | 0.34 | 5.89 | 0.45 | 0.44 | 79.44 | 21.18 | 0.45 | 0.44 | 0.43 | 0.33 | 0.45 | 0.36 |
| — | — | -98.8% | -4.1% | +4.6% | -2.1% | +264.8% | -26.1% | -27.0% | -99.6% | -72.2% | -0.8% | -0.1% | +18192.1% | +6364.3% | +1.7% | +22.0% | +15.9% | +17.0% | +17.5% | +11.6% | |
| Quick Ratio | 0.25 | — | 0.25 | 0.32 | 0.33 | 0.33 | 21.49 | 0.33 | 0.32 | 0.34 | 5.89 | 0.45 | 0.44 | 79.44 | 21.18 | 0.45 | 0.44 | 0.43 | 0.33 | 0.45 | 0.36 |
| — | — | -98.8% | -4.1% | +4.6% | -2.1% | +264.8% | -26.1% | -27.0% | -99.6% | -72.2% | -0.8% | -0.1% | +18192.1% | +6364.3% | +1.7% | +22.0% | +15.9% | +17.0% | +17.5% | +11.6% | |
| Interest Coverage | 0.31 | 0.35 | — | — | — | 0.33 | — | — | — | 0.27 | — | — | — | 0.28 | 0.32 | — | 0.51 | 0.82 | 0.93 | 1.17 | 1.30 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 46 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.
Bull/bear thesis, analyst target revisions, and earnings execution.
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 SAN stock.
Banco Santander, S.A.'s current P/E is 13.2x. The average P/E over the last 4 quarters is 10.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Banco Santander, S.A.'s current operating margin is 15.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Banco Santander, S.A.'s business trajectory between earnings reports.