We rebase our Santander model for the Poland disposal, TSB consolidation, the approved Webster acquisition, and the restated reporting basis. We credit most of the 2026-28 plan but assume roughly half the cost program, leaving 2028 returns just short of management's target.
Santander operates in regions with higher growth prospects and levels of profitability compared with its European peers.
With 70% of its earnings coming from outside the eurozone, Santander is highly exposed to currency risk, especially emerging-market currency risk.
|
Metric
|
SAN
|
C
|
HSBC
|
|---|---|---|---|
Price/Earnings (Normalized) | 12.76 | 12.31 | 9.33 |
Price/Book Value | 1.55 | 1.11 | 1.90 |
Price/Sales | 2.82 | 2.50 | 4.49 |
Price/Cash Flow | 4.22 | 7.30 | 6.58 |
|
Metric
|
SAN
|
C
|
HSBC
|
|---|---|---|---|
Quick Ratio | — | — | — |
Current Ratio | — | — | — |
Interest Coverage | — | — | — |
|
Metric
|
SAN
|
C
|
HSBC
|
|---|---|---|---|
Return on Assets (Normalized) | 0.81% | 0.74% | 0.84% |
Return on Equity (Normalized) | 14.46% | 10.36% | 15.18% |
Return on Invested Capital (Normalized) | — | — | — |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
| JPMorgan Chase & Co
JPM
| LOCK|^^bnrWCb | LOCK|@Y> | $886B | |||
| Bank of America Corp
BAC
| LOCK|PjnJ<H | LOCK|?c | $376B | |||
| HSBC Holdings PLC ADR
HSBC
| LOCK|?rM#pnp | LOCK|q^@l | $326B | |||
| Royal Bank of Canada
RY
| LOCK|g?&?!%m | LOCK|h^! | $270B | |||
| Mitsubishi UFJ Financial Group Inc ADR
MUFG
| LOCK|#F^>BY | LOCK|Dk< | $256B | |||
| Wells Fargo & Co
WFC
| LOCK|Mb#lR> | LOCK|cX> | $243B | |||
| Citigroup Inc
C
| LOCK|X%RKsP | LOCK|<f | $213B | |||
| Banco Santander SA ADR
SAN
| LOCK|Z^hHylx | LOCK|l$n<D | $194B | |||
| The Toronto-Dominion Bank
TD
| LOCK|NX>L!L | LOCK|WXx | $192B | |||
| Banco Bilbao Vizcaya Argentaria SA ADR
BBVA
| LOCK|Pr>&kYH | LOCK|sB>K | $148B |
United States