Banco Santander S.A. (SAN) — Capital Reinvestment Ratio
Banco Santander S.A. (SAN) has a Capital Reinvestment Ratio of 0.03x as of December 2025, meaning it reinvests 0% of its operating cash flow (€80.93 Billion) in capital expenditures (€2.65 Billion). Check how tangible is Banco Santander S.A.'s equity to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Banco Santander S.A. Capital Reinvestment Ratio (1992–2025)
This chart tracks Banco Santander S.A.'s Capital Reinvestment Ratio across 20 annual periods. For the full cash flow conversion analysis, see SAN cash generation efficiency.
Annual Capital Reinvestment Ratio for Banco Santander S.A. (1992–2025)
Year-by-year Capital Reinvestment Ratio for Banco Santander S.A. from 1992 to 2025. See Banco Santander S.A. (SAN) free cash flow to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (EUR) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.07x | €83.53 Billion | €5.85 Billion | ▼ -58.6% |
| 2023 | 0.17x | €80.56 Billion | €13.64 Billion | ▼ -56.7% |
| 2022 | 0.39x | €27.71 Billion | €10.84 Billion | ▲ +94.5% |
| 2021 | 0.20x | €56.69 Billion | €11.40 Billion | ▲ +56.2% |
| 2020 | 0.13x | €66.15 Billion | €8.52 Billion | ▼ -96.9% |
| 2019 | 4.17x | €3.39 Billion | €14.14 Billion | ▲ +16.9% |
| 2018 | 3.57x | €3.42 Billion | €12.20 Billion | ▲ +1496.2% |
| 2017 | 0.22x | €40.19 Billion | €8.99 Billion | ▼ -41.5% |
| 2016 | 0.38x | €21.82 Billion | €8.34 Billion | ▼ -46.8% |
| 2015 | 0.72x | €12.86 Billion | €9.24 Billion | ▲ +349.5% |
| 2012 | 0.16x | €24.32 Billion | €3.89 Billion | ▲ +69.3% |
| 2011 | 0.09x | €35.99 Billion | €3.40 Billion | ▼ -4.7% |
| 2010 | 0.10x | €51.87 Billion | €5.14 Billion | ▼ -55.0% |
| 2008 | 0.22x | €15.83 Billion | €3.49 Billion | ▲ +49.7% |
| 2007 | 0.15x | €31.65 Billion | €4.66 Billion | ▼ -75.6% |
| 1996 | 0.60x | €1.56 Billion | €939.66 Million | ▼ -12.9% |
| 1995 | 0.69x | €1.07 Billion | €739.20 Million | ▼ -79.5% |
| 1994 | 3.38x | €856.23 Million | €2.90 Billion | ▲ +1142.3% |
| 1993 | 0.27x | €1.57 Billion | €427.31 Million | ▼ -48.8% |
| 1992 | 0.53x | €884.32 Million | €470.46 Million | — |