Santander Holdings USA, Inc. SNUS-PH
SHUSA is the parent holding company of SBNA, a national banking association; SC, a consumer finance company headquartered in Dallas, Texas; BSI, a wholly-owned subsidiary of SBNA, a financial services company headquartered in Miami, Florida that offers a full range of banking services to foreign individuals and corporations based primarily in Latin America; SanCap, an institutional broker-dealer headquartered in New York which has significant capabilities in market-making via an experienced fixed-income sales and trading team and a focus on structuring and advisory services for asset originators in the real estate and specialty finance markets; SSLLC, a broker-dealer headquartered in Boston, Massachusetts; and several other subsidiaries. SHUSA is headquartered in Boston and SBNA's home office is in Wilmington, Delaware. SSLLC is a registered investment adviser with the SEC. SHUSA's two largest subsidiaries by asset size and revenue are SBNA and SC. SHUSA is a wholly-owned subsidiary of Santander. On December 30, 2025 SBNA filed applications with the FDIC and OCC for approval to merge Santander Consumer USA Holdings Inc., a consumer finance company headquartered in Dallas, Texas and a wholly-owned subsidiary of SHUSA into SBNA, with SBNA to be the surviving entity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.44B | $13.47B | $12.36B | $8.42B | $7.29B | $8.02B | $0 | $0 | $0 | $0 |
| SG&A | $5.94B | $6.27B | $6.33B | $6.14B | $6.14B | $8.21B | $6.37B | $5.83B | $5.76B | $5.39B |
| Interest expense | $5.95B | $5.58B | $5.88B | $6.17B | $1.10B | $1.66B | $2.21B | $1.72B | $1.45B | $1.43B |
| Pre-tax income | $1.84B | $970.6M | $786.8M | $1.75B | $4.70B | -$766.9M | $1.51B | $1.42B | $800.9M | $954.5M |
| Income tax | $196.4M | $106.8M | $146.1M | $343.1M | $1.08B | $110.6M | $472.2M | $425.9M | $157.0M | $313.7M |
| Net income | $1.65B | $1.08B | $932.9M | $1.41B | $2.98B | -$840.4M | $753.2M | $707.4M | $552.4M | $362.9M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $14.37B | $18.55B | $13.10B | $16.56B | $25.02B | $17.92B | $11.53B | $10.72B | $10.34B | $13.05B |
| Property, plant and equipment | $936.3M | $987.0M | $987.1M | $910.5M | $856.4M | $787.3M | $798.1M | $805.9M | $849.1M | $996.5M |
| Goodwill | $2.77B | $2.77B | $2.77B | $2.77B | $2.60B | $2.60B | $4.44B | $4.44B | $4.44B | $4.45B |
| Other intangibles | $214.0M | $248.9M | $287.2M | $326.6M | $339.1M | $357.5M | $416.2M | $475.2M | $535.8M | $597.2M |
| Total assets | $164.57B | $165.25B | $164.97B | $168.19B | $159.82B | $149.43B | $149.50B | $135.63B | $128.27B | $138.36B |
| Long-term debt | $37.10B | $44.01B | $44.14B | $43.59B | $41.13B | $46.36B | $50.65B | $44.95B | $39.00B | $43.52B |
| Total liabilities | $146.63B | $147.57B | $147.47B | $150.26B | $135.35B | $128.17B | $125.10B | $111.79B | $104.58B | $115.98B |
| Retained earnings | -$829.2M | -$942.7M | -$718.1M | $1.48B | $4.83B | $1.84B | $4.16B | $3.78B | $3.45B | $3.02B |
| Total equity | $15.94B | $15.68B | $15.50B | $17.43B | $24.47B | $21.26B | $24.40B | $23.85B | $23.69B | $22.38B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.01B | $1.16B | $1.91B | $5.29B | $8.54B | $5.27B | $6.85B | $7.02B | $4.96B | $5.27B |
| Depreciation and amortisation | $2.49B | $2.60B | $2.62B | $2.79B | $2.35B | $2.77B | $2.40B | $1.91B | $1.61B | $1.27B |
| Stock-based compensation | — | — | — | $0 | $0 | $33.0K | $317.0K | $913.0K | $4.7M | $17.7M |
| Capital expenditure | — | — | — | $227.1M | $233.6M | $195.8M | $216.8M | $159.9M | $164.1M | $234.1M |
| Investing cash flow | -$2.06B | $3.09B | $2.14B | -$4.80B | -$7.64B | -$1.55B | -$17.24B | -$12.46B | $3.28B | $577.8M |
| Financing cash flow | -$3.83B | $662.5M | -$1.94B | -$8.93B | $6.20B | $2.68B | $11.20B | $5.83B | -$10.96B | -$4.87B |
| Dividends paid | $1.53B | $1.30B | $3.09B | $4.75B | $0 | $125.0M | $400.0M | $410.0M | $10.0M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000811830-26-000005.
Others in SIC 6021
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| COF | CAPITAL ONE FINANCIAL CORP | $136.66B | 54.5x | 36.3% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | $97.98B | 14.8x | 7.2% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |