Banco Santander, S.A. (SAN) P/E Ratio History
Historical price-to-earnings valuation from 2007 to 2025
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SAN Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 8, 2026, Banco Santander, S.A. (SAN) trades at a price-to-earnings ratio of 11.9x, with a stock price of $12.16 and trailing twelve-month earnings per share of $0.90.
The current P/E is 45% above its 5-year average of 8.2x. Over the past five years, SAN's P/E has ranged from a low of 4.6x to a high of 13.4x, placing the current valuation at the 80th percentile of its historical range.
Compared to the Financial Services sector median P/E of 13.1x, SAN is roughly in line with its sector peers. The sector includes 775 companies with P/E ratios ranging from 0.0x to 195.8x.
Relative to the broader market, SAN trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our SAN DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
SAN P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $123B | 11.0 | 0.17 | +1% | |
| $60B | 8.7Lowest | 0.08Best | +126%Best | |
| $86B | 12.0 | 0.44 | +28% | |
| $80B | 10.4 | 0.28 | +17% | |
| $138B | 23.7 | 21.49 | +23% | |
| $90B | 10.3 | 0.50 | +4% | |
| $826B | 15.5 | 1.19 | +22% | |
| $401B | 13.8 | 0.90 | +19% | |
| $226B | 21.7 | - | +47% | |
| $245B | 14.7 | 2.63 | +11% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
SAN Historical P/E Data (2007–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $11.73 | $0.89 | 13.2x | +10% |
| FY2025 Q3 | Mon Sep 29 2025 00:00:00 GM | $10.29 | $0.85 | 12.1x | +1% |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $8.30 | $0.83 | 10.0x | -16% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $6.70 | $0.81 | 8.3x | -31% |
| FY2024 Q4 | $4.56 | $0.77 | 5.9x | -51% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $5.10 | $0.74 | 6.9x | -42% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $4.63 | $0.72 | 6.4x | -46% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $4.84 | $0.68 | 7.1x | -41% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $4.14 | $0.66 | 6.3x | -48% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $3.76 | $0.62 | 6.1x | -49% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $3.71 | $0.58 | 6.4x | -47% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $3.69 | $0.55 | 6.7x | -44% |
Average P/E for displayed period: 12.0x
Full SAN Stock Analysis
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Start ComparisonSAN — Frequently Asked Questions
Quick answers to the most common questions about buying SAN stock.
Is SAN stock overvalued or undervalued?
SAN trades at 11.9x P/E, above its 5-year average of 8.2x. The 80th percentile ranking indicates a premium to historical valuation.
How does SAN's valuation compare to peers?
Banco Santander, S.A. P/E of 11.9x compares to sector median of 13.1x. The discount suggests lower growth expectations or higher risk.
What is SAN's PEG ratio?
SAN PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2007-2025.