BS
Banco Santander (Brasil) SA
BSBR—
Banco Santander (Brasil) SA AI Insights
Informational only. Not investment advice.Snapshot
- P/B of 0.50x implies market values equity at 50% of book - trading below tangible book of 90.9B vs 45.8B market cap[Price to Book Ratio]
- FCF TTM is -20.3B despite 11.9B net income - massive cash consumption from balance sheet growth or working capital[Free Cash Flow TTM]
- Dividend yield of 10.3% (1.75/share vs 1.70 EPS) - payout exceeds earnings, unsustainable without FCF turnaround[Dividends Paid Per Share TTM]
Watch Triggers
- Free Cash Flow TTM: Turns positive or loss narrows >50% — Validates that negative FCF is growth-driven, not structural - unlocks rerating
- Dividends Paid Per Share TTM: Cut below 1.00/share — Signals management acknowledges cash flow unsustainability - removes yield support
- Net Margin TTM: Falls below 20% — Interest expense pressure overwhelming core profitability - bear thesis confirmed
Bull Case
Extreme valuation discount: P/E 3.6x, P/B 0.50x, trading at 50% of tangible book (90.9B). If FCF normalizes, multiple expansion alone drives 50-100% upside.
Price to Book RatioPE RatioTangible Book Value
Core profitability strong: 25.3% net margin, 9.9% ROE with conservative 0.20 debt/equity. Balance sheet can support growth without dilution.
Net Margin TTMROE TTMDebt to Equity
Bear Case
Negative FCF of -20.3B is 1.7x net income - if structural (not growth-driven), dividend cut imminent and book value erodes
Free Cash Flow TTMCash Flow TTMDividends Paid Per Share TTM
Revenue declining -2.6% 1Y while interest expense (97.2B) is 2x revenue (47.2B) - margin compression risk if rates stay elevated
Total Revenue 1Y GrowthInterest Expense TTMTotal Revenue TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
40%
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Forward Thesis
Cash flow normalization could unlock 50%+ revaluation to book value
1-3ylow
- Negative FCF likely from loan book growth, not structural losses
- Net margin of 25.3% proves core profitability intact
- P/E of 3.6x prices in permanent impairment that may not materialize
Net Income TTM 11.9B vs FCF -20.3B gap of 32BROE TTM 9.9% positive despite cash burnTotal Assets 1.26T growing (implied from cash position)
Valuation Context
Caveats
Public Strategies Rankings
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BSBR Fundamentals
Unknown Industry
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$45.8B | — | ||
$-156.13B | — | ||
3.6 | — | ||
$47.19B | +3.2% | — | |
$1.70 | +11.2% | — | |
0% | — | ||
25.3% | -1.7% | — | |
$-20.26B | — | ||
0.10 | -0.8% | — | |
Beta 5Y (Monthly) | unknown | — |
BSBR Dividend History
66 dividends
2026
$0.029801/09/26$0.0298
2025
$0.337310/23/25$0.0996
07/21/25$0.0978
04/23/25$0.0703
01/24/25$0.0696
2024
$0.300910/21/24$0.0698
07/25/24$0.0718
04/22/24$0.0783
01/22/24$0.0811
2023
$0.333510/20/23$0.0826
07/21/23$0.0815
04/25/23$0.0816
01/27/23$0.0879
2022
$0.433810/24/22$0.0855
08/15/22$0.0879
04/22/22$0.0970
02/11/22$0.1515
01/10/22$0.0118
2021
$0.526311/05/21$0.1432
08/05/21$0.1762
05/10/21$0.1497
02/17/21$0.0246
01/11/21$0.0326
2020
$0.645911/05/20$0.0476
08/07/20$0.0374
05/08/20$0.0445
01/06/20$0.5165
2019
$0.537410/09/19$0.0674
07/08/19$0.0698
04/08/19$0.0685
01/08/19$0.3317
2018
$0.332410/10/18$0.0400
07/05/18$0.0423
04/11/18$0.0483
01/08/18$0.2018
2017
$0.514110/10/17$0.0422
08/03/17$0.0422
05/04/17$0.0408
01/05/17$0.3889
2016
$0.242307/07/16$0.0411
01/12/16$0.2012
2015
$0.278309/17/15$0.2036
04/07/15$0.0110
01/13/15$0.0637
2014
$0.867310/02/14$0.0203
07/02/14$0.0479
04/08/14$0.0259
01/10/14$0.6598
01/07/14$0.1134
2013
$0.202610/03/13$0.0528
07/03/13$0.0710
04/10/13$0.0788
2012
$0.355112/27/12$0.0932
10/03/12$0.0666
07/05/12$0.1378
04/04/12$0.0576
2011
$0.506312/29/11$0.1192
09/29/11$0.0615
06/30/11$0.1058
06/07/11$0.1221
03/28/11$0.0977
2010
$0.507312/27/10$0.2690
09/23/10$0.0834
07/01/10$0.1145
03/26/10$0.0403
2009
$0.113812/29/09$0.1138
BSBR Stock Splits
No stock splits
BSBR SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/31/25 | 09/30/25 | 6-K | |
08/04/25 | 06/30/25 | 6-K | |
05/15/25 | 03/31/25 | 6-K | |
02/28/25 | 12/31/24 | 20-F | |
10/30/24 | 09/30/24 | 6-K | |
08/02/24 | 06/30/24 | 6-K | |
08/02/24 | 03/31/24 | 6-K | |
02/26/24 | 12/31/23 | 20-F | |
10/26/23 | 09/30/23 | 6-K | |
08/16/23 | 06/30/23 | 6-K | |
08/02/24 | 03/31/23 | 6-K | |
02/28/23 | 12/31/22 | 20-F | |
10/26/22 | 09/30/22 | 6-K | |
07/28/22 | 06/30/22 | 6-K | |
04/26/22 | 03/31/22 | 6-K | |
02/28/22 | 12/31/21 | 20-F | |
10/27/21 | 09/30/21 | 6-K | |
10/04/22 | 06/30/21 | 6-K/A | |
07/28/21 | 06/30/21 | 6-K | |
04/28/21 | 03/31/21 | 6-K | |
02/26/21 | 12/31/20 | 20-F | |
10/27/20 | 09/30/20 | 6-K | |
10/27/21 | 09/30/20 | 6-K/A | |
07/29/20 | 06/30/20 | 6-K | |
04/28/20 | 03/31/20 | 6-K | |
03/06/20 | 12/31/19 | 20-F | |
10/30/19 | 09/30/19 | 6-K | |
07/23/19 | 06/30/19 | 6-K | |
04/30/19 | 03/31/19 | 6-K | |
03/26/19 | 12/31/18 | 20-F | |
10/31/18 | 09/30/18 | 6-K | |
07/25/18 | 06/30/18 | 6-K | |
04/25/18 | 03/31/18 | 6-K | |
04/09/18 | 12/31/17 | 20-F | |
10/26/17 | 09/30/17 | 6-K | |
07/28/17 | 06/30/17 | 6-K | |
04/26/17 | 03/31/17 | 6-K | |
03/28/17 | 12/31/16 | 20-F | |
10/26/16 | 09/30/16 | 6-K | |
07/27/16 | 06/30/16 | 6-K | |
04/27/16 | 03/31/16 | 6-K | |
04/29/16 | 12/31/15 | 20-F | |
10/29/15 | 09/30/15 | 6-K | |
07/30/15 | 06/30/15 | 6-K | |
04/28/15 | 03/31/15 | 6-K | |
04/30/15 | 12/31/14 | 20-F | |
11/04/14 | 09/30/14 | 6-K | |
07/31/14 | 06/30/14 | 6-K | |
04/29/14 | 03/31/14 | 6-K | |
04/30/14 | 12/31/13 | 20-F | |
10/24/13 | 09/30/13 | 6-K | |
07/30/13 | 06/30/13 | 6-K | |
06/18/14 | 03/31/13 | 6-K/A | |
04/25/13 | 03/31/13 | 6-K | |
03/29/13 | 12/31/12 | 20-F | |
10/25/12 | 09/30/12 | 6-K | |
07/26/12 | 06/30/12 | 6-K | |
09/23/13 | 06/30/12 | 6-K/A | |
04/26/12 | 03/31/12 | 6-K | |
03/30/12 | 12/31/11 | 20-F | |
06/18/14 | 12/31/11 | 20-F/A | |
10/27/11 | 09/30/11 | 6-K | |
07/27/11 | 06/30/11 | 6-K | |
04/28/11 | 03/31/11 | 6-K | |
04/08/11 | 12/31/10 | 20-F | |
10/28/10 | 09/30/10 | 6-K | |
07/29/10 | 06/30/10 | 6-K | |
04/29/10 | 03/31/10 | 6-K | |
06/09/10 | 12/31/09 | 20-F | |
10/28/09 | 09/30/09 | 6-K | |
07/29/10 | 06/30/09 | 6-K | |
04/29/10 | 03/31/09 | 6-K | |
12/31/08 | 12/31/08 | Annual | -- |
10/28/09 | 09/30/08 | 6-K |