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BANCO SANTANDER SA (BSD2.DE) Stock Fundamental Analysis

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

6.21  -0.1 (-1.6%)

Fundamental Rating

2

BSD2 gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 99 industry peers in the Banks industry. Both the profitability and financial health of BSD2 have multiple concerns. BSD2 has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

BSD2 had positive earnings in the past year.
In the past year BSD2 had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BSD2 reported negative net income in multiple years.
Of the past 5 years BSD2 4 years had a positive operating cash flow.
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 0 20B 40B 60B

1.2 Ratios

Looking at the Return On Assets, with a value of 0.62%, BSD2 is in line with its industry, outperforming 45.16% of the companies in the same industry.
The Return On Equity of BSD2 (11.61%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA 0.62%
ROE 11.61%
ROIC N/A
ROA(3y)0.56%
ROA(5y)0.31%
ROE(3y)10.58%
ROE(5y)5.5%
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 0 5 -5 10 -10

1.3 Margins

BSD2 has a Profit Margin of 16.27%. This is in the lower half of the industry: BSD2 underperforms 66.67% of its industry peers.
In the last couple of years the Profit Margin of BSD2 has grown nicely.
The Operating Margin and Gross Margin are not available for BSD2 so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 16.27%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5Y4.44%
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 0 10 -10

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0

2. Health

2.1 Basic Checks

BSD2 does not have a ROIC to compare to the WACC, probably because it is not profitable.
BSD2 has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
BSD2.DE Yearly Shares OutstandingBSD2.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 500B 1T 1.5T

2.2 Solvency

A Debt/Equity ratio of 3.23 is on the high side and indicates that BSD2 has dependencies on debt financing.
BSD2's Debt to Equity ratio of 3.23 is on the low side compared to the rest of the industry. BSD2 is outperformed by 70.97% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.23
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACC4.93%
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 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 1B 2B 3B

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3

3. Growth

3.1 Past

BSD2 shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 18.69%, which is quite good.
Measured over the past years, BSD2 shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.47% on average per year.
EPS 1Y (TTM)18.69%
EPS 3Y20.22%
EPS 5Y16.47%
EPS Q2Q%18.51%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%12.71%

3.2 Future

BSD2 is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 0.77% yearly.
BSD2 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.08% yearly.
EPS Next Y5.23%
EPS Next 2Y7.12%
EPS Next 3Y7.75%
EPS Next 5Y0.77%
Revenue Next Year0.94%
Revenue Next 2Y1.98%
Revenue Next 3Y2.4%
Revenue Next 5Y2.08%

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.
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

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4. Valuation

4.1 Price/Earnings Ratio

BSD2 is valuated reasonably with a Price/Earnings ratio of 8.06.
Based on the Price/Earnings ratio, BSD2 is valued a bit cheaper than 68.82% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 29.35, BSD2 is valued rather cheaply.
With a Price/Forward Earnings ratio of 7.65, the valuation of BSD2 can be described as very cheap.
Based on the Price/Forward Earnings ratio, BSD2 is valued cheaply inside the industry as 90.32% of the companies are valued more expensively.
BSD2 is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.10, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.06
Fwd PE 7.65
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 4 6

4.3 Compensation for Growth

BSD2's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.54
PEG (5Y)0.49
EPS Next 2Y7.12%
EPS Next 3Y7.75%

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.70%, BSD2 has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.06, BSD2's dividend is way lower than its industry peers. On top of this 83.87% 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 2.33.
Industry RankSector Rank
Dividend Yield 2.7%

5.2 History

The dividend of BSD2 decreases each year by -5.41%.
Dividend Growth(5Y)-5.41%
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

BSD2 pays out 20.41% of its income as dividend. This is a sustainable payout ratio.
DP20.41%
EPS Next 2Y7.12%
EPS Next 3Y7.75%
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 0 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 (3/7/2025, 7:00:00 PM)

6.21

-0.1 (-1.6%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)02-05 2025-02-05/bmo
Earnings (Next)04-30 2025-04-30
Inst Owners32.51%
Inst Owner ChangeN/A
Ins Owners1.5%
Ins Owner ChangeN/A
Market Cap93.67B
Analysts80.67
Price Target6.32 (1.77%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.7%
Yearly Dividend0.14
Dividend Growth(5Y)-5.41%
DP20.41%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)7.47%
Min EPS beat(2)-0.99%
Max EPS beat(2)15.92%
EPS beat(4)3
Avg EPS beat(4)4.92%
Min EPS beat(4)-0.99%
Max EPS beat(4)15.92%
EPS beat(8)7
Avg EPS beat(8)4.35%
EPS beat(12)10
Avg EPS beat(12)3.52%
EPS beat(16)13
Avg EPS beat(16)10.34%
Revenue beat(2)1
Avg Revenue beat(2)0.65%
Min Revenue beat(2)-0.25%
Max Revenue beat(2)1.54%
Revenue beat(4)2
Avg Revenue beat(4)4.55%
Min Revenue beat(4)-0.25%
Max Revenue beat(4)17.12%
Revenue beat(8)6
Avg Revenue beat(8)17.39%
Revenue beat(12)10
Avg Revenue beat(12)20.1%
Revenue beat(16)14
Avg Revenue beat(16)24.71%
PT rev (1m)8.21%
PT rev (3m)8.55%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.06%
EPS NY rev (3m)1.67%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.14%
Revenue NY rev (3m)0.18%
Valuation
Industry RankSector Rank
PE 8.06
Fwd PE 7.65
P/S 1.38
P/FCF N/A
P/OCF 18.68
P/B 0.98
P/tB 1.24
EV/EBITDA N/A
EPS(TTM)0.77
EY12.4%
EPS(NY)0.81
Fwd EY13.07%
FCF(TTM)-0.57
FCFYN/A
OCF(TTM)0.33
OCFY5.35%
SpS4.51
BVpS6.33
TBVpS5.01
PEG (NY)1.54
PEG (5Y)0.49
Profitability
Industry RankSector Rank
ROA 0.62%
ROE 11.61%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 16.27%
GM N/A
FCFM N/A
ROA(3y)0.56%
ROA(5y)0.31%
ROE(3y)10.58%
ROE(5y)5.5%
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 3YN/A
PM growth 5Y4.44%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.04
Health
Industry RankSector Rank
Debt/Equity 3.23
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 428.49%
Cap/Sales 20.04%
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
WACC4.93%
ROIC/WACCN/A
Cap/Depr(3y)401.8%
Cap/Depr(5y)395.97%
Cap/Sales(3y)19.79%
Cap/Sales(5y)19.84%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)18.69%
EPS 3Y20.22%
EPS 5Y16.47%
EPS Q2Q%18.51%
EPS Next Y5.23%
EPS Next 2Y7.12%
EPS Next 3Y7.75%
EPS Next 5Y0.77%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%12.71%
Revenue Next Year0.94%
Revenue Next 2Y1.98%
Revenue Next 3Y2.4%
Revenue Next 5Y2.08%
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-151.16%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-81.9%
OCF growth 3Y-57.68%
OCF growth 5Y7.98%