Banco Santander, S.A.SAN

Where SAN's Net Debt / EBITDA sits inside its own 10-year distribution, with the yearly high, low and average.

$14.93-0.12 (-0.80%)Previous close
NYSEFinancial Services

SAN Net Debt / EBITDA: current value, 10-year range and year-by-year history

Net Debt / EBITDA History

Historically priceyAbove avgAround avgBelow avgHistorically cheap
SAN Net Debt / EBITDA historySAN Net Debt / EBITDA from Sep 2023 to Jun 2026: low -2.12, high 14.87, latest 14.87.-3.481.456.3711.316.22Sep 23Mar 24Sep 24Jun 25Dec 25Jun 26med 1.41

SAN Net Debt / EBITDA by year

Yearly range of SAN’s net debt / ebitda from 2016 to 2026. Over the full period it ranged from -3.4 to 203.2, averaging 12.3.

SAN Net Debt / EBITDA — yearly low, average, high and year-end values
YearLowAverageHighYear-end
202613.914.414.914.9
20251.14.614.714.7
20241.14.111.911.9
2023-2.11.14.63.3
2022-3.4-1.33.33.3
2021-2.15.615.85.8
202010.168.2203.2203.2
20198.811.215.915.9
20187.88.08.28.0
20176.68.510.77.3
201611.612.313.011.6

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How many years of operating earnings it would take to pay off the company's net debt. The most common leverage ratio — higher means more financial risk and less flexibility.

Formula(Total Debt − Cash) / EBITDA
Full guide
How to read this chart

Watch the trend more than the level. Declining ratio = deleveraging, growing financial flexibility. Rising ratio = increasing leverage, which constrains dividends, buybacks, and future investment.

Key caveats
  • Sector context is essential: 3× is aggressive for a consumer brand but normal for a regulated utility. Always compare to sector peers.
  • Large acquisitions spike the ratio temporarily — check whether the integration plan credibly drives paydown.
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