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BANCO SANTANDER SA (BSD2.DE) Stock Fundamental Analysis

FRA:BSD2 - Deutsche Boerse Ag - ES0113900J37 - Common Stock - Currency: EUR

6.856  -0.13 (-1.9%)

Fundamental Rating

3

Taking everything into account, BSD2 scores 3 out of 10 in our fundamental rating. BSD2 was compared to 96 industry peers in the Banks industry. Both the profitability and financial health of BSD2 have multiple concerns. BSD2 has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

BSD2 had positive earnings in the past year.
In the past year BSD2 has reported a negative cash flow from operations.
BSD2 had positive earnings in 4 of the past 5 years.
BSD2 had a positive operating cash flow in 4 of the past 5 years.
BSD2.DE Yearly Net Income VS EBIT VS OCF VS FCFBSD2.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B 40B 60B

1.2 Ratios

The Return On Assets of BSD2 (0.68%) is comparable to the rest of the industry.
With a decent Return On Equity value of 12.75%, BSD2 is doing good in the industry, outperforming 64.89% of the companies in the same industry.
Industry RankSector Rank
ROA 0.68%
ROE 12.75%
ROIC N/A
ROA(3y)0.62%
ROA(5y)0.36%
ROE(3y)11.71%
ROE(5y)6.74%
ROIC(3y)N/A
ROIC(5y)N/A
BSD2.DE Yearly ROA, ROE, ROICBSD2.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10

1.3 Margins

BSD2 has a worse Profit Margin (17.68%) than 62.77% of its industry peers.
BSD2's Profit Margin has improved in the last couple of years.
BSD2 does not have Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) 17.68%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y6.17%
PM growth 5Y10.55%
GM growth 3YN/A
GM growth 5YN/A
BSD2.DE Yearly Profit, Operating, Gross MarginsBSD2.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10

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1

2. Health

2.1 Basic Checks

BSD2 does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for BSD2 has been reduced compared to 1 year ago.
Compared to 5 years ago, BSD2 has less shares outstanding
Compared to 1 year ago, BSD2 has a worse debt to assets ratio.
BSD2.DE Yearly Shares OutstandingBSD2.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B
BSD2.DE Yearly Total Debt VS Total AssetsBSD2.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500B 1T 1.5T

2.2 Solvency

A Debt/Equity ratio of 3.30 is on the high side and indicates that BSD2 has dependencies on debt financing.
BSD2 has a worse Debt to Equity ratio (3.30) than 73.40% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.3
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC5.23%
BSD2.DE Yearly LT Debt VS Equity VS FCFBSD2.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100B 200B 300B

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
BSD2.DE Yearly Current Assets VS Current LiabilitesBSD2.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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4

3. Growth

3.1 Past

BSD2 shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 20.90%, which is quite impressive.
Measured over the past years, BSD2 shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.42% on average per year.
The Revenue has been growing slightly by 7.01% in the past year.
The Revenue has been growing slightly by 3.17% on average over the past years.
EPS 1Y (TTM)20.9%
EPS 3Y20.14%
EPS 5Y16.42%
EPS Q2Q%23.53%
Revenue 1Y (TTM)7.01%
Revenue growth 3Y8.95%
Revenue growth 5Y3.17%
Sales Q2Q%3.27%

3.2 Future

The Earnings Per Share is expected to grow by 4.64% on average over the next years.
BSD2 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.69% yearly.
EPS Next Y9.57%
EPS Next 2Y9.52%
EPS Next 3Y10.59%
EPS Next 5Y4.64%
Revenue Next Year1.08%
Revenue Next 2Y1.77%
Revenue Next 3Y2.32%
Revenue Next 5Y1.69%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
BSD2.DE Yearly Revenue VS EstimatesBSD2.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 20B 40B 60B
BSD2.DE Yearly EPS VS EstimatesBSD2.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.2 0.4 0.6 0.8 1

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5

4. Valuation

4.1 Price/Earnings Ratio

BSD2 is valuated reasonably with a Price/Earnings ratio of 8.46.
BSD2's Price/Earnings ratio is a bit cheaper when compared to the industry. BSD2 is cheaper than 69.15% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.32, BSD2 is valued rather cheaply.
A Price/Forward Earnings ratio of 7.42 indicates a rather cheap valuation of BSD2.
84.04% of the companies in the same industry are more expensive than BSD2, based on the Price/Forward Earnings ratio.
BSD2 is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.13, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.46
Fwd PE 7.42
BSD2.DE Price Earnings VS Forward Price EarningsBSD2.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
BSD2.DE Per share dataBSD2.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 -2 4 6

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.88
PEG (5Y)0.52
EPS Next 2Y9.52%
EPS Next 3Y10.59%

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3

5. Dividend

5.1 Amount

BSD2 has a Yearly Dividend Yield of 2.43%.
With a Dividend Yield of 2.43, BSD2 pays less dividend than the industry average, which is at 5.14. 88.30% of the companies listed in the same industry pay a better dividend than BSD2!
BSD2's Dividend Yield is comparable with the S&P500 average which is at 2.40.
Industry RankSector Rank
Dividend Yield 2.43%

5.2 History

The dividend of BSD2 decreases each year by -2.45%.
Dividend Growth(5Y)-2.45%
Div Incr Years3
Div Non Decr Years3
BSD2.DE Yearly Dividends per shareBSD2.DE Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.05 0.1 0.15 0.2

5.3 Sustainability

23.99% of the earnings are spent on dividend by BSD2. This is a low number and sustainable payout ratio.
DP23.99%
EPS Next 2Y9.52%
EPS Next 3Y10.59%
BSD2.DE Yearly Income VS Free CF VS DividendBSD2.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B 40B
BSD2.DE Dividend Payout.BSD2.DE Dividend Payout, showing the Payout Ratio.BSD2.DE Dividend Payout.PayoutRetained Earnings

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BANCO SANTANDER SA

FRA:BSD2 (6/13/2025, 7:00:00 PM)

6.856

-0.13 (-1.9%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-30 2025-04-30/bmo
Earnings (Next)07-30 2025-07-30
Inst Owners28.2%
Inst Owner ChangeN/A
Ins Owners0.47%
Ins Owner ChangeN/A
Market Cap101.92B
Analysts81.48
Price Target7.22 (5.31%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.43%
Yearly Dividend0.19
Dividend Growth(5Y)-2.45%
DP23.99%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)21.36%
Min EPS beat(2)-0.99%
Max EPS beat(2)43.7%
EPS beat(4)2
Avg EPS beat(4)10.17%
Min EPS beat(4)-5.17%
Max EPS beat(4)43.7%
EPS beat(8)5
Avg EPS beat(8)7.54%
EPS beat(12)9
Avg EPS beat(12)6.29%
EPS beat(16)12
Avg EPS beat(16)5.18%
Revenue beat(2)1
Avg Revenue beat(2)0.28%
Min Revenue beat(2)-2.51%
Max Revenue beat(2)3.06%
Revenue beat(4)2
Avg Revenue beat(4)-0.03%
Min Revenue beat(4)-2.51%
Max Revenue beat(4)3.06%
Revenue beat(8)4
Avg Revenue beat(8)2.26%
Revenue beat(12)8
Avg Revenue beat(12)11.58%
Revenue beat(16)12
Avg Revenue beat(16)15.07%
PT rev (1m)4.8%
PT rev (3m)14.1%
EPS NQ rev (1m)1.23%
EPS NQ rev (3m)16.48%
EPS NY rev (1m)0%
EPS NY rev (3m)3.92%
Revenue NQ rev (1m)-0.42%
Revenue NQ rev (3m)2.1%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.14%
Valuation
Industry RankSector Rank
PE 8.46
Fwd PE 7.42
P/S 1.43
P/FCF N/A
P/OCF N/A
P/B 1.03
P/tB 1.28
EV/EBITDA N/A
EPS(TTM)0.81
EY11.81%
EPS(NY)0.92
Fwd EY13.47%
FCF(TTM)-2.34
FCFYN/A
OCF(TTM)-1.62
OCFYN/A
SpS4.78
BVpS6.63
TBVpS5.34
PEG (NY)0.88
PEG (5Y)0.52
Profitability
Industry RankSector Rank
ROA 0.68%
ROE 12.75%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 17.68%
GM N/A
FCFM N/A
ROA(3y)0.62%
ROA(5y)0.36%
ROE(3y)11.71%
ROE(5y)6.74%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y6.17%
PM growth 5Y10.55%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 3.3
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 321.74%
Cap/Sales 14.9%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score6
WACC5.23%
ROIC/WACCN/A
Cap/Depr(3y)371.12%
Cap/Depr(5y)366.07%
Cap/Sales(3y)17.82%
Cap/Sales(5y)18.1%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)20.9%
EPS 3Y20.14%
EPS 5Y16.42%
EPS Q2Q%23.53%
EPS Next Y9.57%
EPS Next 2Y9.52%
EPS Next 3Y10.59%
EPS Next 5Y4.64%
Revenue 1Y (TTM)7.01%
Revenue growth 3Y8.95%
Revenue growth 5Y3.17%
Sales Q2Q%3.27%
Revenue Next Year1.08%
Revenue Next 2Y1.77%
Revenue Next 3Y2.32%
Revenue Next 5Y1.69%
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-302.79%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-581.65%
OCF growth 3YN/A
OCF growth 5YN/A