# Banco Santander, S.A. (SAN)

> Source: Nexqual · https://nexqual.com/SAN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Banco Santander, S.A. (SAN), nexqual.com/SAN" · informational, not investment advice.

**Price:** USD 12.9 (-2.93% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 13.29 · day 12.82–13.03 · 52w 9.66–15.05 · market cap $186B · NYQ

## Key facts
- Analysts: Buy (mean 2.33 on a 1–5 scale) (3 analysts), mean target USD 14.76 (range 13–15.7).
- Total return with dividends: 1Y +34.6% vs S&P 500 +14.9%; 5Y +294.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.29, revenue estimate $16.2B.

## Analysts
Consensus Buy (mean 2.33 on a 1–5 scale), 3 analysts; mean target USD 14.76 (low 13, high 15.7).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Jefferies | Downgrade | Buy → Hold |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +34.6% | +294.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +34.8% | +31.5% |
| Volatility (annualized) | 34.0% | 33.6% |
| Max drawdown | -20.3% (Feb 2026→Mar 2026) | -38.6% (Feb 2022→Sep 2022) |

## Peers (Banks - Diversified)
TD (Toronto Dominion Bank (The)) USD 125.12 +0.34% · C (Citigroup, Inc.) USD 122.51 -1.08% · SMFG (Sumitomo Mitsui Financial Group) USD 24.09 -1.75% · MUFG (Mitsubishi UFJ Financial Group,) USD 21.41 -1.65% · WFC (Wells Fargo & Company) USD 83.01 +0.72% · UBS (UBS Group AG Registered) USD 46.87 -2.21%

## More
Full page: https://nexqual.com/SAN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name SAN in their own reports (relationship from SAN's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Vista Energy, S.A.B. de C.V. (VIST) | 20-F 2026-04-28 | "On January 30, 2026, Vista Argentina entered into the 2026 Credit Agreement with Banco Santander, S.A." |
| partner | CENTRAL PUERTO S.A. (CEPU) | 20-F 2026-04-22 | "CPCS agreed to a financing agreement with Banco Santander International for an amount of USD 40 million at an annual interest rate of" |
| partner | GRUPO FINANCIERO GALICIA SA (GGAL) | 20-F 2026-04-16 | "Nera, operated through Grupo Galicia's joint venture with Banco Santander S.A. (see Item 4.A—Agri Tech), offers a digital payments and financing ecosystem that provides agricultural producers with val…" |
| partner | Wallbox N.V. (WBX) | 20-F 2026-04-09 | "As of December 31, 2025, our total loans and borrowings was €164.7 million, including €5.2 million outstanding under our loan agreement with Banco Santander, S.A. from April 2021 (as described below),…" |
| partner | SPRUCE POWER HOLDING CORP (SPRU) | 10-K 2026-03-31 | "In November 2024, we entered into a non-recourse credit agreement with Banco Santander, S.A., New York (the "SP5 Facility"), which provided a term loan of approximately $109.8 million, of which procee…" |
| partner | AEGON LTD. (AEG) | 20-F 2026-03-26 | "In Spain & Portugal, Aegon has a strategic partnership with Banco Santander to distribute life, health, and non-life insurance products through the bank's branches, with Aegon owning a 51% stake in th…" |
| partner | Banco Santander (Brasil) S.A. (BSBR) | 20-F 2026-02-27 | "Partnership between Banco Santander (Brasil) S.A. and Pluxee International" |
| related | BANCO SANTANDER CHILE (BSAC) | 20-F 2026-02-27 | "In addition to affiliates and associated entities, the Bank's "related parties" include its "key personnel" from the executive staff (members of the Bank's Board of Directors and Managers of Banco San…" |
| partner | PRINCIPAL FINANCIAL GROUP INC (PFG) | 10-K 2026-02-18 | "On January 19, 2026, an agreement with Banco Santander, S.A. ("Santander") was announced whereby Santander will acquire our annuities business in Chile, Principal Compañía de Seguros de Vida Chile S.A…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.29 | $0.31 | -6.5% | $16.24B | 1 |
| Next quarter (ends 2026-12-31) | $0.32 | $0.32 | -0.5% | $17.21B | 1 |
| Current fiscal year (ends 2026-12-31) | $1.26 | $1.36 | -7.2% | $63.94B | 2 |
| Next fiscal year (ends 2027-12-31) | $1.40 | $1.23 | +14.3% | $69.45B | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-28): ±9.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 40.9% | ±9.3% |
| 2026-12-18 | 56 | 41.1% | ±13.0% |
| 2027-03-19 | 147 | 30.3% | ±15.5% |
| 2027-06-17 | 237 | 51.2% | ±32.4% |