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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	17,433	15,500	13,744	12,183	10,764	9,653
Depreciation & Amortization	3,152	3,178	3,179	3,184	2,985	2,756
Other Adjustments	25,309	28,169	25,182	23,764	20,985	18,607
Changes in Other Operating Activities	-61,344	-61,682	-66,260	-34,116	-7,028	25,675
Operating Cash Flow	-15,418	-14,835	-24,155	5,015	27,706	56,691
Operating Cash Flow Growth	-	-	-	-81.90%	-51.13%	-14.30%
Net Change in Securities and Investments	472	670	-5	675	381	546
Payments for Business Acquisitions	-	-187	-71	-1,274	-784	-140
Proceeds from Business Divestments	1	54	8	885	734	6
Capital Expenditures	-4,896	-5,854	-8,494	-11,446	-9,066	-10,015
Purchases of Intangible Assets	-1,695	-1,805	-2,104	-2,197	-1,774	-1,388
Sale of Property, Plant & Equipment	4,785	5,206	5,966	7,074	5,558	6,382
Other Investing Activities	9,379	2,450	988	917	1,053	894
Investing Cash Flow	5,492	534	-3,712	-5,366	-3,898	-3,715
Long-Term Debt Issued	2,499	2,725	7,770	7,304	128	5,565
Long-Term Debt Repaid	-8,267	-10,321	-6,239	-4,817	-6,767	-4,783
Net Long-Term Debt Issued (Repaid)	-5,768	-7,596	1,531	2,487	-6,639	782
Issuance of Common Stock	957	815	765	825	573	854
Repurchase of Common Stock	-6,272	-4,081	-4,789	-3,109	-2,050	-1,645
Net Common Stock Issued (Repurchased)	-5,315	-3,266	-4,024	-2,284	-1,477	-791
Common Dividends Paid	-3,341	-3,341	-3,017	-2,261	-1,848	-1,313
Financing Cash Flow	-14,424	-14,203	-5,510	-2,058	-9,964	-1,322
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-5,282	-8,908	5,243	-322	-1,460	5,196
Net Cash Flow	-29,632	-37,412	-28,134	-2,731	12,384	56,850
Free Cash Flow	-20,314	-20,689	-32,649	-6,431	18,640	46,676
Free Cash Flow Growth	-	-	-	-	-60.07%	-20.57%
FCF Margin	-36.71%	-35.33%	-55.92%	-11.85%	47.05%	124.66%
Free Cash Flow Per Share	-1.16	-1.38	-2.10	-0.40	1.10	2.69

SEC Filings: 10-K · 10-Q