Banco Santander (SAN) Gross Margin (2013 - 2025)
Banco Santander (SAN) posted Gross Margin of 92.12% for Q2 2026, little changed sequentially from 92.17% in Q1 2026, and down 25.0% YoY from 122.83% in Q2 2025.
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Banco Santander (SAN) Gross Margin (2013 - 2025) Analysis & Trends
Banco Santander has reported Gross Margin for 17 years, with the latest figure at 92.12% in Q2 2026.
- Quarterly Gross Margin fell 25.0% year-over-year to 92.12% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 93.28% (up 395.0% YoY) and the FY2025 annual result came in at 462.71%, up 36271.0% from the prior year.
- Gross Margin held at 92.12% in Q2 2026 per SAN's latest filing, from 92.17% in the prior quarter.
- Over five years, Gross Margin peaked at 94.81% in Q4 2025 and troughed at 72.18% in Q4 2024.
- A 5-year average of 90.81% and a median of 92.34% in 2024 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2024 and 2025: Gross Margin plunged 2039 bps in 2024, then jumped 2263 bps in 2025.
- Over 5 years, Gross Margin stood at 92.18% in 2022, then advanced by 0 bps to 92.57% in 2023, then decreased by 22 bps to 72.18% in 2024, then jumped by 31 bps to 94.81% in 2025, then slipped by 3 bps to 92.12% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 92.12%, 92.17%, and 94.81% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bank Of America | 450.70 Bn | -137.79 Bn | 30.39 Bn | 96.31% |
| 2 | Hsbc Holdings | 369.91 Bn | 369.91 Bn | - | - |
| 3 | Royal Bank Of Canada | 298.39 Bn | 71.50 Bn | - | - |
| 4 | Mitsubishi Ufj Financial | 274.84 Bn | -118.78 Bn | 10.89 Bn | -45.06% |
| 5 | Wells Fargo & Company | 271.19 Bn | 67.22 Bn | - | - |
| 6 | Citigroup | 234.41 Bn | -2,067.90 Bn | 24.75 Bn | 99.93% |
| 7 | Banco Santander | 222.54 Bn | 35.26 Bn | 18.23 Bn | - |
| 8 | Toronto Dominion Bank | 213.17 Bn | 51.84 Bn | - | - |
| 9 | UBS Group AG | 174.30 Bn | -60.22 Bn | - | - |
| 10 | Banco Bilbao Vizcaya Argentaria | 169.95 Bn | -113.05 Bn | 12.21 Bn | 270.01% |
Historic Data
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Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 132.66% |
| Dec 31, 2024 | 92.11% |
| Dec 31, 2023 | 119.05% |
| Dec 31, 2022 | 45.89% |
| Dec 31, 2021 | -435.25% |
| Dec 31, 2020 | -549.77% |
| Dec 31, 2019 | 466.77% |
| Jun 30, 2019 | -2,783.14% |
| Dec 31, 2018 | -8.29% |
| Jun 30, 2018 | 185.49% |
| Dec 31, 2017 | 101.54% |
| Dec 31, 2016 | 85.82% |
| Jun 30, 2016 | 691.27% |
| Mar 31, 2016 | 344.79% |
| Dec 31, 2015 | -321.51% |
| Sep 30, 2015 | 115.18% |
| Jun 30, 2015 | 707.09% |
| Mar 31, 2015 | 350.94% |
| Dec 31, 2014 | -404.21% |
| Sep 30, 2014 | 118.99% |