BSANTANDER.SN Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	14.81T EUR	14.23T EUR	14.45T EUR	13.4T EUR
Enterprise Value	26.44T EUR	21.8T EUR	21.88T EUR	21.28T EUR
Valuation Multiples
Trailing P/E	13.17x	12.62x	14.21x	18.01x
Forward P/E	20.15x	--	--	--
Price to Sales	6.2x	4.31x	4.51x	5.42x
Price to Book	2.98x	2.86x	3.05x	2.39x
EV/Revenue	11.06x	6.6x	6.83x	8.61x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	13.56x	360.11x	--
EV/FCF	--	20.77x	545.11x	--
FCF Yield	--	7.37%	0.28%	-0.39%