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Spanish (IBEX) Financials Sector Analysis

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies16
  • 7D-0.06%
  • 3M22.2%
  • 1Y64.4%
  • YTD11.0%

Over the last 7 days, the Financials industry has dropped 1.1%, driven by CaixaBank declining 1.6%. This takes the industry's 12 month performance to a gain of 63%. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Jun 2026€430.2b€136.1b€32.8b14x13.1x3.2x
Sun, 24 May 2026€390.3b€136.0b€32.8b13.9x11.9x2.9x
Tue, 21 Apr 2026€393.3b€134.6b€31.9b13.4x12.3x2.9x
Thu, 19 Mar 2026€363.3b€134.6b€31.9b12.5x11.4x2.7x
Sat, 14 Feb 2026€373.7b€130.7b€34.5b11.6x10.8x2.9x
Mon, 12 Jan 2026€392.6b€139.9b€33.2b12.6x11.8x2.8x
Wed, 10 Dec 2025€376.1b€144.6b€33.9b12.1x11.1x2.6x
Fri, 07 Nov 2025€356.7b€144.7b€34.1b11.1x10.5x2.5x
Sun, 05 Oct 2025€344.3b€142.6b€33.9b11.3x10.2x2.4x
Tue, 02 Sep 2025€328.2b€142.7b€34.0b10.4x9.7x2.3x
Thu, 31 Jul 2025€305.1b€143.6b€34.1b10.1x8.9x2.1x
Sat, 28 Jun 2025€281.7b€143.8b€34.1b9.7x8.3x2x
Mon, 26 May 2025€283.6b€143.8b€34.1b10.1x8.3x2x
Wed, 23 Apr 2025€255.2b€142.6b€32.2b13.1x7.9x1.8x
Fri, 21 Mar 2025€274.1b€142.6b€32.2b16.6x8.5x1.9x
Sun, 16 Feb 2025€248.3b€140.0b€32.9b12.4x7.5x1.8x
Tue, 14 Jan 2025€207.9b€90.8b€19.0b14.3x10.9x2.3x
Thu, 12 Dec 2024€201.3b€138.6b€30.8b12x6.5x1.5x
Sat, 09 Nov 2024€197.9b€138.5b€30.7b13.9x6.4x1.4x
Mon, 07 Oct 2024€200.5b€134.7b€29.6b16.5x6.8x1.5x
Wed, 04 Sep 2024€197.7b€134.8b€29.7b12.9x6.7x1.5x
Fri, 02 Aug 2024€194.6b€135.3b€29.7b12.8x6.6x1.4x
Sun, 30 Jun 2024€193.2b€130.6b€27.7b13.1x7x1.5x
Tue, 28 May 2024€207.7b€130.6b€27.7b12.4x7.5x1.6x
Thu, 25 Apr 2024€205.2b€126.5b€26.7b12.1x7.7x1.6x
Sat, 23 Mar 2024€198.1b€126.5b€26.7b11.1x7.4x1.6x
Mon, 19 Feb 2024€167.8b€118.2b€27.2b9x6.2x1.4x
Wed, 17 Jan 2024€165.6b€115.4b€25.4b9x6.5x1.4x
Fri, 15 Dec 2023€168.6b€115.4b€25.4b9.3x6.6x1.5x
Sun, 12 Nov 2023€163.4b€115.4b€25.4b12x6.4x1.4x
Tue, 10 Oct 2023€158.7b€117.0b€23.5b13x6.8x1.4x
Thu, 07 Sep 2023€153.0b€117.1b€23.5b14.2x6.5x1.3x
Sat, 05 Aug 2023€157.3b€117.1b€23.5b14x6.7x1.3x
Mon, 03 Jul 2023€153.3b€114.3b€22.1b11.5x6.9x1.3x
Price to Earnings Ratio

6.9x


Total Market Cap: €153.3bTotal Earnings: €22.1bTotal Revenue: €114.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Spanish Financials Sector Price to Earnings3Y Average 8.3x202420252026
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 13.0x which is higher than its 3-year average PE of 8.3x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 14% per year over the last three years.
  • Revenues for these companies have grown 6.0% 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 Market0.41%
Financials-0.06%
Diversified Financial4.48%
Insurance1.20%
Capital Markets0.80%
Banks-0.11%
Industry PE
  • Investors are most optimistic about the Diversified Financial industry, which is trading close to its 3-year average PE ratio of 86.8x.
    • 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 9.6x.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 12% over the next 5 years.
  • However this is lower than its past earnings growth rate of 97% 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€21.690.9%
+€1.1b		70.0%PB2.1x
SAN Banco Santander€11.920.3%
+€459.0m		73.0%PB1.6x
MAP Mapfre€4.281.4%
+€177.7m		25.4%PE11.2x
ARM Árima Real Estate SOCIMI€11.203.7%
+€12.7m		13.4%PE8.8x
INDXA Indexa Capital Group€14.004.5%
+€8.7m		29.6%PE85.6x

Latest News

BKT
€14.48
Bankinter
7D
-3.4%
1Y
32.5%
Narrative Update • Jun 24

BKT: Fine Tuned P E Assumptions Will Balance Mortgage Risks And Expansion

Bankinter's updated analyst price target is now set slightly higher at €15.40, with the modest change supported by mixed recent Street revisions and small tweaks to discount rate, growth, and margin assumptions. Analyst Commentary Recent Street research on Bankinter points to a mixed but generally constructive tone, with several firms adjusting price targets in relatively small increments.
SAB
€3.11
Banco de Sabadell
7D
-0.8%
1Y
17.4%
SAN
€11.92
Banco Santander
7D
0.3%
1Y
73.0%
Narrative Update • Jun 24

SAN: Webster Deal And Groupwide AI Rollout Will Shape Future Returns

Analysts have nudged their price target for Banco Santander slightly higher to €12.21 from €12.15, reflecting updated inputs on revenue growth, profit margins and assumed future P/E multiples in their valuation models. What’s in the News Banco Santander received approval from the Office of the Comptroller of the Currency for its acquisition of Webster Bank, with additional clearance still awaited from the Federal Reserve and the European Central Bank, as reported in recent coverage of the deal.
LDA
€1.17
Línea Directa Aseguradora Compañía de Seguros y Reaseguros
7D
-0.5%
1Y
-13.5%
UNI
€3.09
Unicaja Banco
7D
-1.0%
1Y
59.6%
Analysis Article • Jun 20

Unicaja Banco (BME:UNI) Stock Could Be 21% Overvalued After Green Note Buyback Plan

Unicaja Banco (BME:UNI) has launched a cash offer to repurchase its €500 million green senior non-preferred notes due 2027, and is planning a new euro-denominated green note to refinance the operation. See our latest analysis for Unicaja Banco. Unicaja Banco’s recent green note repurchase comes as the stock trades at €3.154, with a 30-day share price return of 13.78% and a 1-year total shareholder return of 76.36%, suggesting momentum has been building over both shorter and longer periods. If...
CABK
€12.38
CaixaBank
7D
-1.6%
1Y
70.1%
Narrative Update • Jun 18

CABK: Share Capital Reduction And Tighter Assumptions Will Support Steady Profitability

CaixaBank’s analyst price target edges higher by roughly €0.07, with analysts pointing to updated fair value estimates, as well as slightly revised assumptions around revenue growth, profit margins and future P/E as key supports for the move. Analyst Commentary Recent research on CaixaBank gives you a mix of optimism and caution, with several banks revisiting their fair value estimates and tweaking price targets by relatively small amounts.
MAP
€4.28
Mapfre
7D
1.4%
1Y
25.4%
Narrative Update • Jun 16

MAP: Premium Strength And Margin Gains Will Mask Overvaluation Risk

Analysts have raised their fair value estimate for Mapfre from €2.51 to €3.65, citing updated assumptions that include a slightly lower discount rate, weaker expectations for revenue, a higher profit margin, and a modestly higher future P/E multiple. What’s in the News for Mapfre Mapfre presented its 2024 income statement with premium growth expected at 6.6% at constant exchange rates, according to recent company disclosures.
BBVA
€21.69
Banco Bilbao Vizcaya Argentaria
7D
0.9%
1Y
70.0%
Narrative Update • Jun 15

BBVA: Execution Risks Around 22% ROTE Target Will Likely Cap Share Price

Analysts have made a modest upward adjustment to the fair value estimate for Banco Bilbao Vizcaya Argentaria, lifting the implied target by about €0.20 as they factor in updated views on revenue growth, profitability, discount rates, and recent price target tweaks around €20.50 to €23.40. Analyst Commentary Recent research on Banco Bilbao Vizcaya Argentaria reflects a mix of supportive and cautious views, with several large banks fine tuning their price targets and ratings.
ARM
€11.20
Árima Real Estate SOCIMI
7D
3.7%
1Y
13.4%
ALNT
€10.10
Alantra Partners
7D
-1.0%
1Y
30.8%
INDXA
€14.00
Indexa Capital Group
7D
4.5%
1Y
29.6%
R4
€19.10
Renta 4 Banco
7D
0.5%
1Y
16.5%