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Spanish (IBEX) Financials Sector Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies15
  • 7D2.1%
  • 3M15.7%
  • 1Y110.5%
  • YTD108.1%

Over the last 7 days, the Financials industry has risen 1.2%, driven by gains from CaixaBank of 2.2%. This means that the industry has gained 110% over the past year. Earnings are forecast to grow by 4.6% annually.

Sector Valuation and Performance

Has the Spanish Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025€392.0b€144.6b€33.9b12.4x11.6x2.7x
Fri, 21 Nov 2025€355.1b€144.6b€33.9b11.5x10.5x2.5x
Sun, 19 Oct 2025€333.7b€142.6b€33.9b11x9.8x2.3x
Tue, 16 Sep 2025€341.4b€142.7b€34.0b10.9x10x2.4x
Thu, 14 Aug 2025€332.5b€142.7b€34.0b10.7x9.8x2.3x
Sat, 12 Jul 2025€292.0b€143.9b€34.1b10x8.6x2x
Mon, 09 Jun 2025€286.5b€143.8b€34.1b10.1x8.4x2x
Wed, 07 May 2025€268.3b€143.6b€33.9b13.6x7.9x1.9x
Fri, 04 Apr 2025€262.8b€142.6b€32.2b17.3x8.2x1.8x
Sun, 02 Mar 2025€263.8b€142.5b€32.9b12.5x8x1.9x
Tue, 28 Jan 2025€216.4b€136.8b€30.0b17.4x7.2x1.6x
Thu, 26 Dec 2024€196.3b€138.6b€30.8b12x6.4x1.4x
Sat, 23 Nov 2024€195.2b€138.6b€30.8b12x6.3x1.4x
Mon, 21 Oct 2024€203.3b€134.7b€29.6b17.3x6.9x1.5x
Wed, 18 Sep 2024€201.3b€134.8b€29.7b12.7x6.8x1.5x
Fri, 16 Aug 2024€194.3b€134.8b€29.7b13.2x6.5x1.4x
Sun, 14 Jul 2024€202.7b€130.6b€27.7b12.9x7.3x1.6x
Tue, 11 Jun 2024€207.8b€130.6b€27.7b13.1x7.5x1.6x
Thu, 09 May 2024€207.5b€130.4b€27.7b12.4x7.5x1.6x
Sat, 06 Apr 2024€203.0b€126.5b€26.6b12x7.6x1.6x
Mon, 04 Mar 2024€175.7b€127.4b€26.8b8.9x6.6x1.4x
Wed, 31 Jan 2024€167.9b€115.5b€25.8b8.8x6.5x1.5x
Fri, 29 Dec 2023€164.7b€115.4b€25.4b9x6.5x1.4x
Sun, 26 Nov 2023€172.2b€115.4b€25.4b10.2x6.8x1.5x
Tue, 24 Oct 2023€157.2b€117.0b€23.5b13x6.7x1.3x
Thu, 21 Sep 2023€158.5b€117.1b€23.5b14.2x6.7x1.4x
Sat, 19 Aug 2023€157.6b€117.1b€23.5b14x6.7x1.3x
Mon, 17 Jul 2023€155.7b€114.3b€22.1b12.8x7x1.4x
Wed, 14 Jun 2023€145.9b€114.1b€22.1b11.8x6.6x1.3x
Fri, 12 May 2023€141.9b€112.0b€22.1b12.1x6.4x1.3x
Sun, 09 Apr 2023€151.3b€109.6b€21.4b10.2x7.1x1.4x
Tue, 07 Mar 2023€171.7b€109.6b€21.4b11.1x8x1.6x
Thu, 02 Feb 2023€156.2b€106.8b€20.2b11.7x7.7x1.5x
Sat, 31 Dec 2022€137.7b€106.8b€20.1b11x6.9x1.3x
Price to Earnings Ratio

6.9x


Total Market Cap: €137.7bTotal Earnings: €20.1bTotal Revenue: €106.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Spanish Financials Sector Price to Earnings3Y Average 7.5x202320242025
Current Industry PE
  • Investors are optimistic on the Spanish Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 11.5x which is higher than its 3-year average PE of 7.5x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 19% per year over the last three years.
  • Revenues for these companies have grown 11% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Spanish Financials sector?

ES Market1.63%
Financials2.14%
Diversified Financial5.60%
Insurance2.45%
Banks2.13%
Capital Markets0.87%
Industry PE
  • Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio of 58.2x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Insurance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.2x.
Forecasted Growth
  • Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 4.6% over the next 5 years.
  • However this is lower than its past earnings growth rate of 18% per year.
  • In contrast, the Insurance industry is expected to see its earnings grow by 4.2% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
BBVA Banco Bilbao Vizcaya Argentaria€19.772.4%
+€2.7b		113.4%PB2x
SAN Banco Santander€10.001.9%
+€2.6b		131.5%PB1.5x
CABK CaixaBank€10.432.7%
+€1.9b		102.8%PB1.9x
MAP Mapfre€4.313.4%
+€430.2m		77.2%PE11.6x
UNI Unicaja Banco€2.793.1%
+€215.8m		121.4%PB1x

Latest News

CABK
€10.43
CaixaBank
7D
2.7%
1Y
102.8%
UNI
€2.79
Unicaja Banco
7D
3.1%
1Y
121.4%

UNI: Future Returns Will Hinge On Execution As Re-Rating Appears Unlikely

The analyst price target for Unicaja Banco has been modestly raised to approximately EUR 2.44 from EUR 2.39, as analysts factor in slightly higher expected profitability and future earnings multiples despite generally cautious ratings. Analyst Commentary Recent research updates reflect a mixed but incrementally constructive stance on Unicaja Banco, with modest target price upgrades offset by cautious rating profiles.
BBVA
€19.77
Banco Bilbao Vizcaya Argentaria
7D
2.4%
1Y
113.4%

BBVA Future Share Buybacks And Dividend Payouts Will Likely Disappoint

The analyst price target for Banco Bilbao Vizcaya Argentaria has been raised from EUR 12.38 to EUR 14.00 as analysts factor in stronger expected revenue growth, slightly higher future profitability and earnings multiples supported by the bank's exposure to faster growing markets. Analyst Commentary Recent Street research on Banco Bilbao Vizcaya Argentaria highlights a broadly constructive stance on the stock, with multiple Buy ratings and successive price target upgrades reflecting confidence in the bank's revenue trajectory and earnings power.
SAN
€10.00
Banco Santander
7D
1.9%
1Y
131.5%

SAN: Dividend Payout And Revenue Outlook Will Support Balanced Return Prospects

Analysts have nudged their price target for Banco Santander higher to €9.53 from €9.46. This reflects marginally stronger expectations for revenue growth, profitability, and valuation multiples under a slightly lower discount rate.
MAP
€4.31
Mapfre
7D
3.4%
1Y
77.2%

MAP: Margin Resilience And Slower Growth Expectations Will Shape Future Performance

Analysts have reduced their price target on Mapfre from EUR 4.15 to EUR 3.92. This reflects expectations for slower top line growth, partially offset by a modest improvement in profitability and a slightly lower future earnings multiple.
SAB
€3.35
Banco de Sabadell
7D
0.3%
1Y
80.5%

SAB: Dividend Yield And Post Takeover Fair Value Will Shape Share Performance

Banco de Sabadell's analyst price target has edged higher to approximately EUR 3.44, up from around EUR 3.43 previously. Analysts point to slightly improved profit margin expectations and a still-supportive valuation backdrop, despite a cluster of neutral and sector-perform ratings around the EUR 3.00 to EUR 3.50 range.
BKT
€14.21
Bankinter
7D
1.4%
1Y
90.0%

BKT: Stable Rate Backdrop Will Likely Sustain Returns Amid Balanced Risk Reward

Analysts have nudged our Bankinter fair value estimate slightly higher to EUR 13.78 from EUR 13.60, citing a series of upward price target revisions and reinforced confidence in the bank's solid fundamentals and profitability in a stable rate environment. Analyst Commentary Recent Street research on Bankinter has tilted incrementally more positive, reflected in a series of price target increases that cluster around or above our updated fair value estimate.
LDA
€1.11
Línea Directa Aseguradora Compañía de Seguros y Reaseguros
7D
3.7%
1Y
1.3%