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NYQ · Valuation Lab
SAN
Banco Santander, S.A. Sponsored
Last$14.63
Market cap209B
EV/EBITDA—
Intrinsic value
$24.69
MoS +40.7% · Undervalued
Assuming 15.0% FCF margin and 10.0% Y1–5 growth.
Upside to price
EV (DCF)328B
Terminal share75%
Expected IV$24.44
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 75% of EV
PV of stage FCFs83.3B
PV of terminal value244.7B
Enterprise value328B
Net cash / (debt)24.6B
Equity value352.6B
Intrinsic value / share$24.69
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 53.4B | 8B | 7.6B | 94.3% |
| Y2 | 58.7B | 8.8B | 7.8B | 89.0% |
| Y3 | 64.6B | 9.7B | 8.1B | 84.0% |
| Y4 | 71.1B | 10.7B | 8.4B | 79.2% |
| Y5 | 78.2B | 11.7B | 8.8B | 74.7% |
| Y6 | 82.1B | 12.3B | 8.7B | 70.5% |
| Y7 | 86.2B | 12.9B | 8.6B | 66.5% |
| Y8 | 90.5B | 13.6B | 8.5B | 62.7% |
| Y9 | 95B | 14.3B | 8.4B | 59.2% |
| Y10 | 99.8B | 15B | 8.4B | 55.8% |
| Terminal | — | — | 244.7B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.