BBVA

MKT CAP:$123B

Banco Bilbao Vizcaya Argentaria, S.A.

Market Cap

$123B

Financial Services·Banks - Diversified·🇪🇸 Spain·NYSE

Financials·Banks·🇪🇸·NYSE

Stock Price

$21.86-$2.13 (-8.90%)

Apr 24, 2026

Company Details

Banco Bilbao Vizcaya Argentaria, S.A., together with its subsidiaries, provides retail banking, wholesale banking, and asset management services. It offers current accounts; and demand, savings, overnight, time, term, and subordinated depos...

CEO

Onur Genc

IPO Date

Dec 15, 1988

Website

www.bbva.com

Key Metrics TTM

Revenue

$52.8B

+83.1% YoY

Net Income

$12.4B

EPS (Diluted)

$2.10

Free Cash Flow

-$29.7B

Revenue / Share

$9.16

Gross Margin

66.8%

Operating Margin

35.5%

Net Margin

23.5%

FCF Margin

-56.2%

P/S

2.3x

P/E

9.9x

Earnings Reports

Q3 2025

Apr 29, 2026

PENDING

Q2 2025

Jul 31, 2025

$10.2B-5.6%EPS $0.56

FY 2024

Feb 21, 2025

$41.5BEPS $1.96

Q4 2024

Feb 21, 2025

$10.9BEPS $0.47

Q3 2024

Sep 28, 2024

$21.0BEPS $0.51

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$6.8B	$5.6B	$1.6B
Q2 16	$14.7B	$13.6B	$2.4B
Q1 17	$7.5B	$6.4B	$2.4B
Q2 17	$7.4B	$6.2B	$2.3B
Q3 18	$6.7B	$5.5B	$2.0B
Q3 19	$7.2B	$5.8B	$2.2B
Q4 19	$7.6B	$6.2B	$538M
Q2 24	$10.8B	-$1.7B	$5.1B
Q3 24	$21.0B	$19.3B	$4.5B
Q4 24	$10.9B	$9.2B	$4.4B
Q2 25	$10.2B	$8.6B	$4.8B

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q1 17	—	—
Q2 17	1.7x	12.6x
Q3 18	1.3x	7.5x
Q3 19	1.3x	6.0x
Q4 19	0.5x	3.2x
Q2 24	1.9x	9.2x
Q3 24	1.4x	8.7x
Q4 24	1.2x	6.6x
Q2 25	1.7x	7.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	-$3.2B	-$3.2B
Q2 16	$1.6B	$1.4B
Q1 17	-$7.7B	-$7.8B
Q2 17	$5.7B	$5.6B
Q3 18	$6.5B	$6.7B
Q3 19	$892M	$400M
Q4 19	$3.2B	$3.4B
Q2 24	-$31.5B	-$31.8B
Q3 24	$18.2B	$17.9B
Q4 24	-$7.8B	-$8.2B
Q2 25	-$7.4B	-$7.6B

Capital Expenditures

Quarter	CapEx
Q1 16	$0
Q2 16	$208M
Q1 17	$64M
Q2 17	$132M
Q3 18	$285M
Q3 19	$492M
Q4 19	$282M
Q2 24	$325M
Q3 24	$334M
Q4 24	$409M
Q2 25	$138M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 18	-0.8%	-9.9%
Q3 19	-51.4%	-59.9%
Q4 19	+1.6%	+39.5%
Q2 24	+45.6%	+12.2%
Q3 24	+212.8%	+251.1%
Q4 24	+52.3%	+31.4%
Q2 25	+34.2%	-23.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$0	0.0%
Q2 16	$23M	0.2%
Q1 17	$0	0.0%
Q2 17	$0	0.0%
Q3 18	$0	0.0%
Q3 19	$0	0.0%
Q4 19	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 16	$2.7B	$113M
Q2 16	$2.4B	$126M
Q1 17	$2.7B	$105M
Q2 17	$3.3B	—
Q3 18	$2.9B	—
Q3 19	$3.0B	—
Q4 19	$3.1B	—
Q2 24	$3.6B	—
Q3 24	$3.5B	—
Q4 24	$4.2B	—
Q2 25	$3.3B	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$88.8B	$76.1B	$164.9B
Q2 22	$105.7B	$73.9B	$179.6B
Q3 22	$111.3B	$73.1B	$184.4B
Q4 22	$98.5B	$76.4B	$174.9B
Q1 23	$103.1B	$77.5B	$180.6B
Q2 23	$94.5B	$74.8B	$169.3B
Q3 23	$84.6B	$74.6B	$159.2B
Q4 23	$96.6B	$72.7B	$169.3B
Q1 24	$123.3B	$73.5B	$196.9B
Q2 24	$62.3B	$70.9B	$133.2B
Q3 24	$105.5B	$70.1B	$175.6B
Q4 24	$70.0B	$109.5B	$179.6B
Q1 25	$96.6B	$188.7B	$285.3B
Q2 25	$85.5B	$192.4B	$277.9B
Q3 25	$77.2B	$113.9B	$191.1B
Q4 25	$109.8B	$212.8B	$322.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	7.09B	—	—
Q2 16	6.61B	-6.8%	—
Q1 17	7.05B	+6.8%	—
Q2 17	6.92B	-1.9%	—
Q3 18	6.98B	+0.8%	-1.6%
Q3 19	7.21B	+3.3%	+9.1%
Q4 19	6.66B	-7.6%	-5.6%
Q2 24	5.75B	-13.6%	-16.9%
Q3 24	5.97B	+3.8%	-14.4%
Q4 24	6.08B	+1.9%	-15.6%
Q2 25	5.77B	-5.2%	-13.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	$49.0K	138K
Q2 16	$106.8K	138K
Q1 17	$55.4K	135K
Q2 17	$55.0K	135K
Q3 18	$50.8K	132K
Q3 19	$56.9K	126K
Q4 19	$59.8K	127K
Q2 24	$88.8K	121K
Q3 24	$172.5K	121K
Q4 24	$86.5K	126K
Q2 25	$80.9K	126K

Revenue / Employee