SAN P/E ratio: current value, 10-year range and year-by-year history
Cash & Leverage
SAN's p/e ratio is higher than 82% of the last 10 years.
P/E ratio History
SAN P/E ratio by year
Yearly range of SAN’s p/e ratio from 2016 to 2026. Over the full period it ranged from -7.4 to 15.9, averaging 8.0.
| Year | Low | Average | High | Year-end |
|---|---|---|---|---|
| 2026 | 9.7 | 11.4 | 13.0 | 12.5 |
| 2025 | 5.6 | 9.0 | 12.3 | 11.6 |
| 2024 | 5.4 | 6.2 | 7.1 | 5.7 |
| 2023 | 5.3 | 6.0 | 7.0 | 6.0 |
| 2022 | 4.7 | 6.3 | 9.2 | 5.5 |
| 2021 | -7.4 | 2.7 | 12.5 | 7.6 |
| 2020 | -6.9 | 2.3 | 11.8 | -4.6 |
| 2019 | 8.3 | 10.0 | 12.4 | 11.2 |
| 2018 | 8.8 | 12.1 | 15.9 | 8.8 |
| 2017 | 11.5 | 13.0 | 14.8 | 13.4 |
| 2016 | 12.8 | 14.0 | 15.7 | 15.5 |
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How much the market pays for each dollar of annual profit. P/E = Stock Price / EPS. The raw number means little — what matters is whether it's high or low relative to the company's own history.
Price / Earnings Per ShareThe chart shows five color-coded historical zones: green (below 10th percentile) means historically very cheap, fading through lime and gray (the normal 25th–75th range) to orange and red (historically expensive). When the line sits in a green or lime zone, the stock is trading at an unusually low P/E relative to its own history.
- Cyclical businesses look cheapest on P/E at peak earnings — the "earnings trap." Use EV/EBITDA or normalised earnings for energy, materials, and financials.
- A falling P/E trend may signal a business in structural decline, not a buying opportunity.
Is SAN P/E ratio High or Low Right Now?
Banco Santander, S.A.'s P/E ratio is currently 12.5, which is historically pricey relative to its 10-year historical range. The 10-year median P/E ratio for SAN is approximately 9.1. See all SAN valuation metrics →
Unlock 10y, 15y, 20y, and 30y history with peer comparison and CSV export.