35/100B11.755
USD
-0.26
(-2.12%)
Post Trading·11.750USD-0.005(-0.04%)
Fair value8.90Plus+32%6Price 11.7616
Q4 FY2026 · Earnings report
EPS estimate 0.27Revenue estimate 18.70B
Q4 FY2026 · Earnings report
EPS estimate 0.27Revenue estimate 18.70B
Banco Santander SA free cash flow 1991–2026What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.
Banco Santander SA's free cash flow in Q1 FY2026, the three months to 31 March 2026, was -19.71B EUR, against -20.08B EUR on the same quarter a year before. Banco Santander SA's free cash flow in fiscal year 2025 was -22.49B EUR, against -32.65B EUR on the year before.
Last updated 9 Nov 2026 · Next report 2 Feb 2027
Free cash flow
Free cash flow Free cash flow margin
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 31 Mar 2026 | — | — | — | — | — | — |
| FY2025 | 31 Dec 2025 | -22.49B | — | -18.76% | -14.84B | -7.66B | -1.41 |
| FY2024 | 31 Dec 2024 | -32.65B | — | -25.13% | -24.16B | -8.49B | -2.10 |
| FY2023 | 31 Dec 2023 | -8.63B | -151.16% | -7.08% | 5.02B | -13.64B | -0.53 |
| FY2022 | 31 Dec 2022 | 16.87B | -62.76% | 19.38% | 27.71B | -10.84B | 1.00 |
| FY2021 | 31 Dec 2021 | 45.29B | -21.42% | 73.64% | 56.69B | -11.40B | 2.61 |
| FY2020 | 31 Dec 2020 | 57.63B | — | 95.25% | 66.15B | -8.52B | 3.33 |
| FY2019 | 31 Dec 2019 | -10.75B | — | -14.82% | 3.39B | -14.14B | -0.63 |
| FY2018 | 31 Dec 2018 | -8.78B | -128.14% | -12.60% | 3.42B | -12.20B | -0.52 |
| FY2017 | 31 Dec 2017 | 31.20B | +131.40% | 43.73% | 40.19B | -8.99B | 1.94 |
| FY2016 | 31 Dec 2016 | 13.48B | — | 19.33% | 21.82B | -8.34B | 0.88 |
| FY2015 | 31 Dec 2015 | -3.56B | — | -4.96% | 5.68B | -9.24B | -0.24 |
| FY2014 | 31 Dec 2014 | -15.08B | — | -21.77% | -7.17B | -7.91B | -1.20 |
| FY2013 | 31 Dec 2013 | -37.99B | -285.92% | -57.53% | -34.85B | -3.14B | -3.29 |
| FY2012 | 31 Dec 2012 | 20.44B | -37.13% | 27.61% | 24.32B | -3.89B | 1.96 |
| FY2011 | 31 Dec 2011 | 32.51B | -30.45% | 43.57% | 35.90B | -3.40B | 3.35 |
| FY2010 | 31 Dec 2010 | 46.73B | — | 69.92% | 51.87B | -5.14B | 4.83 |
| FY2009 | 31 Dec 2009 | -23.14B | -287.52% | -34.23% | -18.04B | -5.10B | -2.43 |
| FY2008 | 31 Dec 2008 | 12.34B | -54.28% | 18.08% | 15.83B | -3.49B | 1.52 |
| FY2007 | 31 Dec 2007 | 26.99B | — | 46.38% | 31.65B | -4.66B | 3.55 |
| FY2006 | 31 Dec 2006 | -8.65B | — | -17.90% | -3.80B | -4.85B | -1.16 |
| FY2005 | 31 Dec 2005 | -36.74B | — | -82.55% | -34.31B | -2.44B | -4.94 |
| FY2004 | 31 Dec 2004 | -14.49B | -2,448.38% | -58.21% | -11.41B | -3.08B | -2.52 |
| FY1996 | 31 Dec 1996 | 617.15M | +88.59% | 5.02% | 1.56B | -939.66M | 0.24 |
| FY1995 | 31 Dec 1995 | 327.25M | — | 2.93% | 1.07B | -739.20M | 0.12 |
| FY1994 | 31 Dec 1994 | -2.04B | -278.87% | -25.56% | 856.23M | -2.90B | -0.89 |
| FY1993 | 31 Dec 1993 | 1.14B | +175.78% | 17.05% | 1.57B | -427.31M | 0.56 |
| FY1992 | 31 Dec 1992 | 413.86M | -62.35% | 6.81% | 884.32M | -470.46M | 0.20 |
| FY1991 | 31 Dec 1991 | 1.10B | — | 17.01% | 1.10B | 0.00 | 0.54 |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| Q1 FY2026 | 31 Mar 2026 | -19.71B | — | -66.41% | -18.70B | -1.01B | -1.30 |
| Q4 FY2025 | 31 Dec 2025 | 0.00 | -100.00% | 0.00% | 0.00 | 0.00 | 0.00 |
| Q3 FY2025 | 29 Sept 2025 | -9.99B | -186.32% | -82.52% | -8.90B | -1.09B | -0.63 |
| Q2 FY2025 | 30 Jun 2025 | 19.49B | — | 135.96% | 20.72B | -1.23B | 1.31 |
| Q1 FY2025 | 31 Mar 2025 | -20.08B | — | -63.60% | -18.11B | -1.97B | -1.24 |
| Q4 FY2024 | 31 Dec 2024 | 20.69B | +370.10% | 130.84% | 22.97B | -2.28B | 1.27 |
| Q3 FY2024 | 30 Sept 2024 | 11.57B | +100.62% | 77.45% | 13.04B | -1.47B | 0.71 |
| Q2 FY2024 | 30 Jun 2024 | -15.41B | -1,042.90% | -99.46% | -13.26B | -2.15B | -0.96 |
| Q1 FY2024 | 31 Mar 2024 | -49.50B | -3,237.07% | -146.71% | -46.91B | -2.59B | -2.95 |
| Q4 FY2023 | 31 Dec 2023 | 4.40B | +193.40% | 30.56% | 8.77B | -4.37B | 0.26 |
| Q3 FY2023 | 30 Sept 2023 | 5.77B | +263.68% | 39.25% | 8.14B | -2.37B | 0.36 |
| Q2 FY2023 | 30 Jun 2023 | 1.63B | — | 11.74% | 1.63B | 0.00 | 0.10 |
| Q1 FY2023 | 31 Mar 2023 | 1.58B | — | 5.58% | 1.58B | 0.00 | 0.09 |
| Q4 FY2022 | 31 Dec 2022 | 1.50B | -92.37% | 11.26% | 1.50B | 0.00 | 0.09 |
| Q3 FY2022 | 30 Sept 2022 | 1.59B | -78.01% | 11.94% | 1.59B | 0.00 | 0.10 |
| Q2 FY2022 | 30 Jun 2022 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| Q1 FY2022 | 31 Mar 2022 | 0.00 | -100.00% | 0.00% | 0.00 | 0.00 | 0.00 |
| Q4 FY2021 | 31 Dec 2021 | 19.65B | +365.62% | 119.01% | 19.65B | 0.00 | 1.07 |
| Q3 FY2021 | 30 Sept 2021 | 7.21B | -37.24% | 46.85% | 8.98B | -1.77B | 0.38 |
| Q2 FY2021 | 30 Jun 2021 | -10.76B | -161.73% | -71.67% | -8.88B | -1.88B | -0.58 |
| Q1 FY2021 | 31 Mar 2021 | 34.85B | +42.32% | 239.10% | 36.92B | -2.07B | 2.01 |
| Q4 FY2020 | 31 Dec 2020 | 4.22B | — | 29.35% | 6.37B | -2.15B | 0.24 |
| Q3 FY2020 | 30 Sept 2020 | 11.49B | — | 80.50% | 14.71B | -3.22B | 0.66 |
| Q2 FY2020 | 30 Jun 2020 | 17.43B | +206.34% | 116.65% | 18.61B | -1.17B | 1.01 |
| Q1 FY2020 | 31 Mar 2020 | 24.49B | — | 145.05% | 26.46B | -1.97B | 1.41 |
| Q4 FY2019 | 31 Dec 2019 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| Q3 FY2019 | 30 Sept 2019 | 0.00 | -100.00% | 0.00% | 0.00 | 0.00 | 0.00 |
| Q2 FY2019 | 30 Jun 2019 | 5.69B | -32.83% | 30.80% | 7.79B | -2.10B | 0.34 |
| Q1 FY2019 | 31 Mar 2019 | -11.94B | — | -65.57% | -9.49B | -2.45B | -0.70 |
| Q4 FY2018 | 31 Dec 2018 | -334.00M | — | -1.82% | 3.18B | -3.51B | -0.02 |
| Q3 FY2018 | 30 Sept 2018 | 4.24B | -86.70% | 25.59% | 7.37B | -3.13B | 0.25 |
| Q2 FY2018 | 30 Jun 2018 | 8.47B | -20.43% | 48.36% | 11.59B | -3.11B | 0.50 |
| Q1 FY2018 | 31 Mar 2018 | -21.16B | — | -122.72% | -18.72B | -2.44B | -1.25 |
| Q4 FY2017 | 31 Dec 2017 | -8.27B | -153.99% | -47.53% | -6.40B | -1.86B | -0.49 |
| Q3 FY2017 | 30 Sept 2017 | 31.87B | +260.33% | 181.01% | 34.42B | -2.55B | 1.67 |
| Q2 FY2017 | 30 Jun 2017 | 10.65B | — | 59.01% | 13.16B | -2.52B | 0.69 |
| Q1 FY2017 | 31 Mar 2017 | -3.05B | — | -16.57% | -993.00M | -2.06B | -0.20 |
| Q4 FY2016 | 31 Dec 2016 | 15.31B | +80.08% | 87.88% | 17.45B | -2.14B | 0.99 |
| Q3 FY2016 | 30 Sept 2016 | 8.84B | +273.64% | 50.04% | 10.67B | -1.83B | 0.54 |
| Q2 FY2016 | 30 Jun 2016 | -3.45B | — | -17.70% | -1.24B | -2.21B | -0.21 |
| Q1 FY2016 | 31 Mar 2016 | -7.23B | — | -42.33% | -5.07B | -2.16B | -0.48 |
| Q4 FY2015 | 31 Dec 2015 | 8.50B | — | 76.41% | 11.39B | -2.89B | 0.56 |
| Q3 FY2015 | 30 Sept 2015 | 2.37B | — | 13.11% | 4.68B | -2.31B | 0.15 |
| Q2 FY2015 | 30 Jun 2015 | -998.00M | — | -6.15% | 1.47B | -2.47B | -0.07 |
| Q1 FY2015 | 31 Mar 2015 | -13.18B | -677.98% | -82.54% | -11.60B | -1.57B | -0.92 |
| Q4 FY2014 | 31 Dec 2014 | -5.90B | — | -25.68% | -3.59B | -2.32B | -0.44 |
| Q3 FY2014 | 30 Sept 2014 | -6.39B | -199.56% | -40.29% | -4.17B | -2.22B | -0.50 |
| Q2 FY2014 | 30 Jun 2014 | -1.84B | -131.90% | -11.90% | 776.00M | -2.61B | -0.15 |
| Q1 FY2014 | 31 Mar 2014 | 2.28B | — | 15.13% | 3.05B | -766.00M | 0.19 |
| Q4 FY2013 | 31 Dec 2013 | -11.20B | — | -31.21% | -9.80B | -1.40B | -0.91 |
| Q3 FY2013 | 30 Sept 2013 | 6.42B | — | 43.01% | 7.07B | -651.00M | 0.58 |
| Q2 FY2013 | 30 Jun 2013 | 5.76B | — | 37.89% | 5.92B | -163.00M | 0.53 |
| Q1 FY2013 | 31 Mar 2013 | -38.97B | — | -250.92% | -38.05B | -924.00M | -3.56 |
| Q4 FY2008 | 31 Dec 2008 | -5.74B | -115.41% | -49.16% | -3.06B | -2.68B | -0.82 |
| Q3 FY2008 | 30 Sept 2008 | 33.61B | -30.48% | 398.33% | 33.61B | 0.00 | 4.48 |
| Q2 FY2008 | 30 Jun 2008 | -14.28B | — | -183.62% | -14.28B | 0.00 | -2.05 |
| Q1 FY2008 | 31 Mar 2008 | -440.70M | — | -5.48% | -440.70M | 0.00 | -0.06 |
| Q4 FY2007 | 31 Dec 2007 | 37.24B | — | 96.40% | 37.24B | 0.00 | 5.72 |
| Q3 FY2007 | 30 Sept 2007 | 48.34B | — | 285.63% | 48.34B | 0.00 | 7.26 |
| Q2 FY2007 | 30 Jun 2007 | -14.99B | — | -218.57% | -14.99B | 0.00 | -2.29 |
| Q1 FY2007 | 31 Mar 2007 | -23.71B | — | -377.92% | -23.71B | 0.00 | -3.63 |
| Q1 FY2005 | 31 Mar 2005 | -34.71M | — | -0.75% | -34.71M | 0.00 | -0.01 |
Figures in EUR. Free cash flow is operating cash flow less capital expenditure. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Stock buybacks,Cash flow
Common questions about Banco Santander SA's free cash flow
Source: Financial Modeling Prep