Tag #Bank Valuation

What are the key factors hindering Santander's stock valuation despite its strong financial performance and exceeding profitability targets?

Santander exceeded its 2025 target of 15% tangible equity return, with an 8% sales increase to €62 billion and a net profit of €3.3 billion in 2024. However, its stock price underperforms compared to its profitability, leaving CEO Ana Botín with limited options to boost shareholder enthusiasm. A new €10 billion buyback program offers some comfort, but the stock still trades below its projected tangible book value.