Banco Santander, S.A. (SAN): return on equity, 10 filed years
ROE at Banco Santander, S.A. was 13.7% in FY2025, the newest filed year. Across the 10 computed years from FY2016 it ranged from -10.8% (FY2020) to 13.7% (FY2025), with a median of 8.0%.
Tonight's figure on the company page: 13.7%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | ROE | Read from |
|---|---|---|
| FY2016 | 5.8% | 20-F, filed 2018-03-28 |
| FY2017 | 5.7% | 20-F, filed 2018-03-28 |
| FY2018 | 6.6% | 20-F, filed 2019-03-26 |
| FY2019 | 5.3% | 20-F, filed 2020-03-06 |
| FY2020 | -10.8% | 20-F, filed 2021-02-26 |
| FY2021 | 9.3% | 20-F, filed 2022-03-01 |
| FY2022 | 10.8% | 20-F, filed 2023-03-01 |
| FY2023 | 11.6% | 20-F, filed 2024-02-21 |
| FY2024 | 12.8% | 20-F, filed 2025-02-28 |
| FY2025 | 13.7% | 20-F, filed 2026-02-27 |
How each year is computed
Net income / shareholders equity x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.