Banco Santander, S.A. (SAN) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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SAN Revenue Growth
SAN Revenue Analysis (2014–2025)
As of May 7, 2026, Banco Santander, S.A. (SAN) generated trailing twelve-month (TTM) revenue of $75.06 billion, reflecting moderate decline in growth of -5.3% year-over-year. The most recent quarter (Q4 2025) recorded $14.98 billion in revenue, up 5.6% sequentially.
Looking at the longer-term picture, SAN's 5-year compound annual growth rate (CAGR) stands at +14.7%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $129.91 billion in 2024.
When compared to Financial Services sector peers including BBVA, DB, and ING. Compare SAN vs BBVA →
SAN Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SANCurrent | $75.1B | -5.3% | +14.7% | 15.6% | |
 BBVA | $36.9B | - | - | 43.9% | |
 DB | $60.9B | - | - | 16.0% | |
 ING | $23.0B | - | - | 39.7% | |
 BCS | $26.8B | - | - | 37.3% | |
 UBS | $59.1B | - | - | 11.9% |
SAN Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $119.89B | - | $48.02B | 40.0% | $18.68B | 15.6% |
| 2024 | $129.91B | - | $51.20B | 39.4% | $19.03B | 14.6% |
| 2023 | $121.87B | - | $46.97B | 38.5% | $16.46B | 13.5% |
| 2022 | $87.03B | - | $43.36B | 49.8% | $15.25B | 17.5% |
| 2021 | $61.50B | - | $41.02B | 66.7% | $14.55B | 23.7% |
| 2020 | $60.50B | - | $34.39B | 56.8% | $-2,076,000,000 | -3.4% |
| 2019 | $72.56B | - | $41.72B | 57.5% | $12.54B | 17.3% |
| 2018 | $69.67B | - | $40.70B | 58.4% | $14.20B | 20.4% |
| 2017 | $71.34B | - | $40.36B | 56.6% | $12.09B | 16.9% |
| 2016 | $69.76B | - | $36.14B | 51.8% | $10.77B | 15.4% |
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Start ComparisonSAN — Frequently Asked Questions
Quick answers to the most common questions about buying SAN stock.
Is SAN's revenue growth accelerating or slowing?
SAN revenue declined -5.3% year-over-year, contrasting with the 5-year CAGR of +14.7%. TTM revenue fell to $75.1B. This reverses the prior growth trend.
What is SAN's long-term revenue growth rate?
Banco Santander, S.A.'s 5-year revenue CAGR of +14.7% reflects the variable expansion pattern. Current YoY growth of -5.3% is below this long-term average.
How is SAN's revenue distributed by segment?
SAN reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.