Banco Santander (SAN) Financial Statements & Analysis

Banco Santander (SAN) Income Statement

Banco Santander reported revenue of EUR 46.84B in fiscal 2025 (fiscal year ended Dec 31, 2025), down 2.0% from EUR 47.81B a year earlier. Net income was EUR 14.10B, up 12.1% year over year, a net margin of 30.1%. Gross margin was 102.5% and operating margin 39.9%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was EUR 15.52B, up 8.3% from the same quarter a year earlier.

Banco Santander Income Statement Analysis

Values in billions EUR

Income Statement Balance Sheet Cash Flow Ratios

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Banco Santander, S.A. income statement - Annual data in billions EUR
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	46.84	47.81	56.69	54.22	61.50	60.50	72.57	69.67	71.34
Cost of Revenue	71.88	78.71	74.90	43.67	20.48	26.11	30.84	28.97	30.99
Gross Profit	48.02	51.20	46.97	43.36	41.02	34.39	41.72	40.70	40.36
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	7.95	8.19	22.06	20.36	18.10	17.78	19.76	19.80	19.82
Operating Expenses	29.33	32.17	30.51	28.11	26.47	36.47	29.18	26.50	28.27
Operating Income	18.68	19.03	16.46	15.25	14.55	-2.08	12.54	14.20	12.09
Other Income/Expense
Interest Income	101.71	112.74	101.74	71.43	46.46	45.74	56.79	54.33	56.04
Interest Expense	59.36	66.07	61.09	32.81	13.09	13.75	21.50	19.98	21.75
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	18.68	17.35	15.01	15.25	14.55	-2.08	12.54	14.20	12.09
Income Tax Expense	4.72	4.84	3.88	4.49	4.89	5.63	4.43	4.89	3.88
Net Income	14.10	12.57	11.08	9.61	8.12	-8.77	6.52	7.81	6.62
Net Income - Continuous Operations	14.10	12.57	11.13	10.76	8.12	-8.77	6.52	7.81	6.62
Net Income - Discontinued Operations	1.54	1.24	1.06	-	-	-	-	-	-
EBITDA	3.18	3.18	3.18	18.24	17.30	0.73	15.54	16.63	14.68
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	3.18	3.29	3.09	2.99	2.76	2.81	3.00	2.43	2.59
Earnings Per Share
Basic EPS	1.00	1.00	1.00	1.00	-	-1.00	-	-	-
Diluted EPS	1.00	1.00	1.00	1.00	-	-1.00	-	-	-
Basic Shares Outstanding	14.89	15.50	16.17	16.85	17.27	17.32	17.06	16.85	16.06
Diluted Shares Outstanding	14.98	15.57	16.25	16.90	17.32	17.32	17.10	16.90	16.12

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Banco Santander Financial Statements

What was Banco Santander's revenue in fiscal 2025?

Banco Santander reported revenue of EUR 46.84B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 2.0% from EUR 47.81B a year earlier.

Is Banco Santander profitable?

Yes. Banco Santander earned net income of EUR 14.10B in fiscal 2025, a net margin of 30.1%. In fiscal 2024 it earned EUR 12.57B.

What is Banco Santander's operating margin?

Banco Santander's operating income was EUR 18.68B on revenue of EUR 46.84B in fiscal 2025, an operating margin of 39.9%, compared with 39.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition