Banco Santander Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2016 - 2020
Net Income	-	12,574	11,076	9,605	8,124	-8,771	Upgrade
Depreciation & Amortization	-	1,748	1,890	1,961	1,834	2,018	Upgrade
Other Amortization	-	1,546	1,294	1,024	922	792	Upgrade
Change in Trading Asset Securities	-	-70,835	-14,736	-1,396	39,834	-8,625	Upgrade
Change in Other Net Operating Assets	-	10,455	-14,166	-134	-10,147	47,596	Upgrade
Other Operating Activities	-	20,357	19,657	16,646	16,124	33,143	Upgrade
Operating Cash Flow	-	-24,155	5,015	27,706	56,691	66,153	Upgrade
Operating Cash Flow Growth	-	-	-81.90%	-51.13%	-14.30%	1851.99%	Upgrade
Capital Expenditures	-	-8,494	-11,446	-9,066	-10,015	-7,386	Upgrade
Sale of Property, Plant and Equipment	-	6,954	7,991	6,611	7,276	2,799	Upgrade
Cash Acquisitions	-	-71	-1,274	-784	-140	-2,931	Upgrade
Investment in Securities	-	-5	675	381	546	-343	Upgrade
Divestitures	-	8	885	734	6	1,775	Upgrade
Purchase / Sale of Intangibles	-	-2,104	-2,197	-1,774	-1,388	-1,134	Upgrade
Investing Cash Flow	-	-3,712	-5,366	-3,898	-3,715	-7,220	Upgrade
Long-Term Debt Issued	-	7,001	7,007	119	5,340	4,095	Upgrade
Long-Term Debt Repaid	-	-4,096	-2,931	-2,291	-2,684	-3,780	Upgrade
Net Debt Issued (Repaid)	-	2,905	4,076	-2,172	2,656	315	Upgrade
Issuance of Common Stock	-	765	825	573	854	721	Upgrade
Repurchase of Common Stock	-	-4,789	-3,109	-2,050	-1,645	-758	Upgrade
Total Dividends Paid	-	-3,017	-2,261	-1,848	-1,313	-	Upgrade
Other Financing Activities	-	-1,374	-1,589	-4,467	-1,874	-2,187	Upgrade
Financing Cash Flow	-	-5,510	-2,058	-9,964	-1,322	-1,909	Upgrade
Foreign Exchange Rate Adjustments	-	5,243	-322	-1,460	5,196	-4,252	Upgrade
Net Cash Flow	-	-28,134	-2,731	12,384	56,850	52,772	Upgrade
Free Cash Flow	-	-32,649	-6,431	18,640	46,676	58,767	Upgrade
Free Cash Flow Growth	-	-	-	-60.07%	-20.57%	-	Upgrade
Free Cash Flow Margin	-	-64.27%	-14.05%	44.44%	119.66%	184.57%	Upgrade
Free Cash Flow Per Share	-	-2.10	-0.40	1.10	2.69	3.39	Upgrade
Cash Interest Paid	-	61,091	50,954	23,390	-	-	Upgrade
Cash Income Tax Paid	-	5,880	5,214	5,498	4,012	2,946	Upgrade

Updated Feb 26, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.