Banco Santander, S.A. (SAN) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: February 28, 2025

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 0% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

15B

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

SAN currently has 15.2B outstanding shares. with minimal authorized share overhang for future dilution. The company has not diluted shareholders through share issuances in the past 2 years, which is positive for existing holders.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
Feb 28, 2025	20-F filing \| 15152.5M shares outstanding	15B
Feb 21, 2024	20-F filing \| 16184.1M shares outstanding	16B
Mar 01, 2023	20-F filing \| 16794.4M shares outstanding	17B
Mar 01, 2022	20-F filing \| 17340.6M shares outstanding	17B
Feb 26, 2021	20-F filing \| 17340.6M shares outstanding	17B
Mar 06, 2020	20-F filing \| 16618.1M shares outstanding	17B

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