BSBR

MKT CAP:$45B

Banco Santander (Brasil) S.A.

Market Cap

$45B

Financial Services·Banks - Regional·🇧🇷 Brazil·NYSE

Financials·Banks - Regional·🇧🇷·NYSE

Stock Price

$5.96-$0.25 (-4.11%)

Apr 24, 2026

Company Details

Banco Santander (Brasil) S.A., together with its subsidiaries, provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally. The company operates in two s...

CEO

Mario Roberto Opice Leao

IPO Date

Oct 7, 2009

Website

www.santander.com.br

Key Metrics TTM

Revenue

$25.1B

+33.7% YoY

Net Income

$2.6B

EPS (Diluted)

$0.35

Free Cash Flow

$15.9B

Revenue / Share

$3.36

Gross Margin

32.1%

Operating Margin

14.9%

Net Margin

10.5%

FCF Margin

63.2%

P/S

1.8x

P/E

16.9x

Earnings Reports

Q4 2024

Apr 29, 2026

PENDING

FY 2024

Feb 28, 2025

$26.0B+6.3%EPS $0.18

Q3 2024

Sep 29, 2024

$6.8B+9.4%EPS $0.10

Q2 2024

Jun 29, 2024

$5.9BEPS $0.10

Q1 2024

Mar 30, 2024

$6.2B+6.3%EPS $0.08

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$1.3B	-$304M	-$1.3B
Q2 20	$1.9B	$1.0B	$36M
Q3 20	$2.8B	$2.0B	$958M
Q4 20	$4.3B	$3.5B	$2.2B
Q1 21	$3.1B	$2.1B	$1.1B
Q2 21	$4.2B	$3.1B	$2.1B
Q3 21	$3.3B	$1.8B	$774M
Q4 21	$4.6B	$2.4B	$1.0B
Q1 22	$5.0B	$2.2B	$1.2B
Q1 23	$5.8B	$1.7B	$548M
Q3 23	$6.2B	$1.9B	$705M
Q1 24	$6.2B	$2.1B	$890M
Q2 24	$5.9B	$1.8B	$1.1B
Q3 24	$6.8B	$2.3B	$1.1B

Valuation

Quarter	P/S	P/E
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	6.1x	23.1x
Q1 21	4.1x	18.1x
Q2 21	4.2x	19.3x
Q3 21	3.3x	15.5x
Q4 21	2.7x	12.9x
Q1 22	3.3x	18.4x
Q1 23	2.1x	13.5x
Q3 23	1.7x	14.2x
Q1 24	1.8x	16.3x
Q2 24	1.5x	14.4x
Q3 24	1.6x	14.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$3.7B	$3.6B
Q2 20	$3.8B	$3.7B
Q3 20	$199M	$78M
Q4 20	$786M	$762M
Q1 21	$3.3B	$3.2B
Q2 21	-$1.1B	-$1.2B
Q3 21	-$2.1B	-$2.3B
Q4 21	$1.3B	$1.1B
Q1 22	$2.3B	$2.2B
Q1 23	$255M	$74M
Q3 23	$12.1B	$12.0B
Q1 24	-$4.3B	-$4.4B
Q2 24	$2.8B	$2.7B
Q3 24	$5.8B	$5.6B

Capital Expenditures

Quarter	CapEx
Q1 20	$108M
Q2 20	$150M
Q3 20	$122M
Q4 20	$24M
Q1 21	$57M
Q2 21	$84M
Q3 21	$186M
Q4 21	$150M
Q1 22	$91M
Q1 23	$181M
Q3 23	$149M
Q1 24	$91M
Q2 24	$128M
Q3 24	$162M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+142.4%	-20.6%
Q2 21	+120.3%	+10.3%
Q3 21	+20.5%	+41.5%
Q4 21	+7.6%	+73.3%
Q1 22	+62.0%	+86.2%
Q1 23	+40.3%	+159.0%
Q3 23	+86.5%	+115.4%
Q1 24	+34.1%	+48.2%
Q2 24	+18.2%	+28.4%
Q3 24	+16.4%	+8.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$0	0.0%
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q4 20	$0	0.0%
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q1 23	$0	0.0%
Q3 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 20	$844M	$26M
Q2 20	$754M	$28M
Q3 20	$810M	$28M
Q4 20	$920M	$50M
Q1 21	$772M	$23M
Q2 21	$734M	$29M
Q3 21	$798M	$30M
Q4 21	$1.1B	$43M
Q1 22	$829M	$23M
Q1 23	$880M	$33M
Q3 23	$909M	$9M
Q1 24	$929M	$24M
Q2 24	$934M	$24M
Q3 24	$951M	$20M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3.9B	$18.0B	$21.9B
Q2 22	$3.3B	$14.0B	$17.3B
Q3 22	$17.7B	$13.5B	$31.2B
Q4 22	$30.1B	$11.2B	$41.3B
Q1 23	$4.0B	$0	$4.0B
Q2 23	$32.0B	$10.6B	$42.6B
Q3 23	$44.9B	$10.7B	$55.5B
Q4 23	$39.1B	$11.9B	$51.0B
Q1 24	$38.5B	$11.7B	$50.2B
Q2 24	$41.0B	$13.1B	$54.1B
Q3 24	$50.6B	$15.6B	$66.2B
Q4 24	$41.3B	$18.6B	$59.8B
Q1 25	$46.1B	$19.1B	$65.2B
Q2 25	$45.1B	$14.5B	$59.7B
Q3 25	$128M	$716M	$844M
Q4 25	$40.7B	$14.0B	$54.7B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	7.49B	—	—
Q2 20	7.49B	0.0%	—
Q3 20	7.49B	0.0%	—
Q4 20	7.49B	0.0%	—
Q1 21	7.49B	0.0%	0.0%
Q2 21	7.49B	0.0%	0.0%
Q3 21	7.49B	0.0%	0.0%
Q4 21	7.49B	0.0%	0.0%
Q1 22	7.49B	0.0%	0.0%
Q1 23	7.45B	-0.6%	-0.6%
Q3 23	7.44B	-0.0%	-0.6%
Q1 24	7.44B	+0.0%	-0.6%
Q2 24	7.46B	+0.2%	-0.4%
Q3 24	7.46B	0.0%	+0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 20	$26.5K	48K
Q2 20	$39.4K	48K
Q3 20	$57.8K	48K
Q4 20	$96.2K	45K
Q1 21	$69.0K	45K
Q2 21	$93.2K	45K
Q3 21	$74.6K	45K
Q4 21	$94.6K	49K
Q1 22	$102.1K	49K
Q1 23	$110.8K	53K
Q3 23	$118.0K	53K
Q1 24	$111.4K	56K
Q2 24	$106.0K	56K
Q3 24	$122.1K	56K

Revenue / Employee