Banco Santander (SAN) Operating Margin (2013 - 2025)
Banco Santander (SAN) posted Operating Margin of 112.9% for Q2 2026, down 14.89% sequentially from 132.66% in Q1 2026, and down 55.0% YoY from 250.89% in Q2 2025.
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Banco Santander (SAN) Operating Margin (2013 - 2025) Analysis & Trends
Banco Santander has reported Operating Margin for 17 years, with the latest figure at 112.9% in Q2 2026.
- Quarterly Operating Margin fell 55.0% year-over-year to 112.9% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 111.15% (down 2016.0% YoY) and the FY2025 annual result came in at 524.99%, up 41025.0% from the prior year.
- Operating Margin fell to 112.9% in Q2 2026 per SAN's latest filing, from 132.66% in the prior quarter.
- Over five years, Operating Margin peaked at 229.11% in Q4 2024 and troughed at 106.27% in Q3 2025.
- A 5-year average of 133.22% and a median of 135.56% in 2024 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2024 and 2025: Operating Margin jumped 9226 bps in 2024, then plunged 12084 bps in 2025.
- Over 5 years, Operating Margin stood at 138.04% in 2022, then declined by 1 bps to 136.85% in 2023, then jumped by 67 bps to 229.11% in 2024, then slumped by 53 bps to 108.27% in 2025, then increased by 4 bps to 112.9% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 112.9%, 132.66%, and 108.27% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bank Of America | 448.95 Bn | -139.54 Bn | 30.39 Bn | 37.28% |
| 2 | Hsbc Holdings | 368.53 Bn | 368.53 Bn | - | - |
| 3 | Royal Bank Of Canada | 296.77 Bn | 69.89 Bn | - | - |
| 4 | Mitsubishi Ufj Financial | 275.23 Bn | -118.39 Bn | 10.89 Bn | -21.15% |
| 5 | Wells Fargo & Company | 272.13 Bn | 68.17 Bn | - | - |
| 6 | Citigroup | 231.94 Bn | -2,070.36 Bn | 24.75 Bn | 42.53% |
| 7 | Banco Santander | 221.87 Bn | 34.59 Bn | 18.23 Bn | - |
| 8 | Toronto Dominion Bank | 211.67 Bn | 50.34 Bn | - | 6.25% |
| 9 | UBS Group AG | 174.19 Bn | -60.33 Bn | - | - |
| 10 | Banco Bilbao Vizcaya Argentaria | 169.40 Bn | -113.59 Bn | 12.21 Bn | 124.57% |
Historic Data
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Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 201.77% |
| Dec 31, 2024 | 236.67% |
| Dec 31, 2023 | 327.06% |
| Dec 31, 2022 | 127.00% |
| Dec 31, 2021 | -804.36% |
| Dec 31, 2020 | -1,010.67% |
| Dec 31, 2019 | -449.27% |
| Jun 30, 2019 | -3,447.04% |
| Dec 31, 2018 | -484.20% |
| Jun 30, 2018 | 48.31% |
| Dec 31, 2017 | 51.52% |
| Dec 31, 2016 | 44.36% |
| Jun 30, 2016 | 174.77% |
| Mar 31, 2016 | 179.05% |
| Dec 31, 2015 | -161.46% |
| Sep 30, 2015 | 60.80% |
| Jun 30, 2015 | 185.02% |
| Mar 31, 2015 | 186.05% |
| Dec 31, 2014 | -826.58% |
| Sep 30, 2014 | 63.95% |