Banco Santander (SAN) Net Margin (2009 - 2026)
Banco Santander (SAN) recorded Net Margin of 21.60% in Q3 2026, down 2.86 percentage points from 24.46% a year earlier and down 0.84 percentage points from the prior quarter.
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Analysis
Banco Santander (SAN) Net Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Banco Santander's Net Margin came in at 26.16% as of Sep 30, 2026, down 154.01 percentage points year-over-year; for FY2025, it was 23.35%, up 2.79 percentage points from FY2024.
- Annual Net Margin has increased for five straight years, with a five-year change of +42.87 percentage points (FY2020 to FY2025).
- Across earlier years, Net Margin came in at 20.55% in FY2024 (+1.08 pp), 19.47% in FY2023 (+2.07 pp), 17.41% in FY2022 (+0.34 pp) and 17.06% in FY2021 (+36.59 pp).
- The Q3 2026 figure is the lowest quarterly Net Margin since Q4 2024.
- On a year-over-year basis, Net Margin has declined for three consecutive quarters, with an average year-over-year change of +2.98 percentage points over the last eight quarters.
- Peak year-over-year performance for Net Margin in the last five years was a gain of 677.26 percentage points in Q1 2025, against a drop of 732.06 percentage points in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at 22.43% (Q2 2026), 36.03% (Q1 2026) and 24.82% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Jpmorgan Chase | 905.34 Bn | 905.34 Bn | - | 29.77% |
| 2 | Bank Of America | 358.56 Bn | -2,017.55 Bn | - | 21.83% |
| 3 | Hsbc Holdings | 307.13 Bn | -1,796.46 Bn | - | 38.08% |
| 4 | Royal Bank Of Canada | 287.97 Bn | -542.07 Bn | - | 32.48% |
| 5 | Morgan Stanley | 284.27 Bn | -224.82 Bn | - | 25.46% |
| 6 | Goldman Sachs | 257.96 Bn | -3,485.49 Bn | - | 27.42% |
| 7 | Wells Fargo & Company | 256.22 Bn | 256.22 Bn | - | 26.08% |
| 8 | Mitsubishi Ufj Financial | 241.27 Bn | -100.12 Bn | 10.89 Bn | 246.71% |
| 9 | American Express | 219.29 Bn | 18.77 Bn | - | 18.50% |
| 10 | Banco Santander | 179.20 Bn | -506.19 Bn | 10.56 Bn | 21.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 21.60% |
| Jun 30, 2026 | 22.43% |
| Mar 31, 2026 | 36.03% |
| Dec 31, 2025 | 24.82% |
| Sep 30, 2025 | 752.19% |
| Jun 30, 2025 | 23.66% |
| Mar 31, 2025 | 696.21% |
| Dec 31, 2024 | 20.37% |
| Sep 30, 2024 | 21.47% |
| Jun 30, 2024 | 20.47% |
| Mar 31, 2024 | 18.96% |
| Dec 31, 2023 | 20.16% |
| Sep 30, 2023 | 19.53% |
| Jun 30, 2023 | 18.95% |
| Mar 31, 2023 | 18.47% |
| Dec 31, 2022 | 16.93% |
| Sep 30, 2022 | 17.98% |
| Jun 30, 2022 | 18.35% |
| Mar 31, 2022 | 20.67% |
| Dec 31, 2021 | 19.32% |
API Access
Banco Santander Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=SAN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "SAN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=SAN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();