Banco Santander S.A. Free Cash Flow Generation Index

Latest as of December 2025: 0.97x

Banco Santander S.A. free cash flow generation index. Banco Santander S.A. (SAN) has a Free Cash Flow Generation Index of 0.97x as of December 2025. Free cash flow of €78.28 Billion represents 1% of operating cash flow (€80.93 Billion).

FCF Generation Index

0.97x
Free Cash Flow / Operating CF

Free Cash Flow

€78.28 Billion
EUR

Operating Cash Flow

€80.93 Billion
EUR

Capital Expenditures

€2.65 Billion
EUR

Free Cash Flow Generation Index of Banco Santander S.A. (1991–2025)

Free cash flow generation index of Banco Santander S.A. from 1991 to 2025. Historical FCF Generation Index trend for Banco Santander S.A. across 21 annual periods. See Banco Santander S.A. free cash flow to debt ratio to measure the company's free cash flow as a share of total liabilities.

Banco Santander S.A. Free Cash Flow Generation Index by Year (1991–2025)

Banco Santander S.A. free cash flow generation index by year from 1991 to 2025. Year-by-year Free Cash Flow Generation Index for Banco Santander S.A.. For the full cash flow conversion analysis, see cash efficiency ratio of Banco Santander S.A..

Year FCG Index Free Cash Flow (EUR) Operating CF Capital Expenditures YoY Change
2025 0.93x €77.68 Billion €83.53 Billion €5.85 Billion ▲ +12.0%
2023 0.83x €66.92 Billion €80.56 Billion €13.64 Billion ▲ +36.5%
2022 0.61x €16.87 Billion €27.71 Billion €10.84 Billion ▼ -23.8%
2021 0.80x €45.29 Billion €56.69 Billion €11.40 Billion ▼ -8.3%
2020 0.87x €57.63 Billion €66.15 Billion €8.52 Billion ▲ +127.5%
2019 -3.17x €-10.75 Billion €3.39 Billion €14.14 Billion ▼ -23.5%
2018 -2.57x €-8.78 Billion €3.42 Billion €12.20 Billion ▼ -431.0%
2017 0.78x €31.20 Billion €40.19 Billion €8.99 Billion ▲ +25.7%
2016 0.62x €13.48 Billion €21.82 Billion €8.34 Billion ▲ +119.4%
2015 0.28x €3.62 Billion €12.86 Billion €9.24 Billion ▼ -66.5%
2012 0.84x €20.43 Billion €24.32 Billion €3.89 Billion ▼ -7.2%
2011 0.91x €32.60 Billion €35.99 Billion €3.40 Billion ▲ +0.5%
2010 0.90x €46.73 Billion €51.87 Billion €5.14 Billion ▲ +15.6%
2008 0.78x €12.34 Billion €15.83 Billion €3.49 Billion ▲ +350.0%
2007 -0.31x €-9.87 Billion €31.65 Billion €4.66 Billion ▼ -178.7%
1996 0.40x €617.15 Million €1.56 Billion €939.66 Million ▲ +29.2%
1995 0.31x €327.25 Million €1.07 Billion €739.20 Million ▲ +112.9%
1994 -2.38x €-2.04 Billion €856.23 Million €2.90 Billion ▼ -427.7%
1993 0.73x €1.14 Billion €1.57 Billion €427.31 Million ▲ +55.5%
1992 0.47x €413.86 Million €884.32 Million €470.46 Million ▼ -53.2%
1991 1.00x €1.10 Billion €1.10 Billion €0.00 —
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).