ITUB vs. SAN: Itaú Unibanco vs. Banco Santander Stock Comparison

Company Profile

Itaú Unibanco (ITUB) and Banco Santander (SAN) are both classified in the Diversified Banks sub-industry within the broader Banks industry, placing them in the closest GICS peer bucket.

Both Itaú Unibanco (ITUB) and Banco Santander (SAN) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Itaú Unibanco (ITUB) at 20.96% clears its industry range for ROE, a sharper capital-efficiency signal than Banco Santander (SAN) at 13.06%, which is closer to a typical peer reading.

Both Itaú Unibanco (ITUB) at 32.46% and Banco Santander (SAN) at 32.58% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

Neither side reports a meaningful operating margin: for Itaú Unibanco (ITUB) in Banks and Banco Santander (SAN) in Banks, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Both Itaú Unibanco (ITUB) at 4.21% and Banco Santander (SAN) at -0.47% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

Both Itaú Unibanco (ITUB) at 9.21% and Banco Santander (SAN) at 17.19% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Growth Metrics

Financial Strength

current ratio doesn’t apply on either side: Itaú Unibanco (ITUB) in Banks and Banco Santander (SAN) in Banks both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

debt-to-equity ratio is set aside for both: Itaú Unibanco (ITUB) in Banks and Banco Santander (SAN) in Banks run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Dividends

Banco Santander (SAN) at 2.10% pays an industry-typical yield; Itaú Unibanco (ITUB) at 40.54% is above its entire peer range — the higher number, but one that calls for a look at payout sustainability before treating it as an advantage.

Banco Santander (SAN) at 25.91% pays out a band-typical share of earnings, while Itaú Unibanco (ITUB) at 70.75% distributes more than its industry norm — less retained, thinner cover.

Dividend Metrics

Valuation

Itaú Unibanco (ITUB) at 9.12 sits in the cheaper P/E ratio quartile, while Banco Santander (SAN) at 11.08 is closer to its industry’s usual earnings multiple — a discount for ITUB, though growth and earnings durability still matter.

P/S ratio is set aside for both Itaú Unibanco (ITUB) in Banks and Banco Santander (SAN) in Banks: without a conventional revenue line, pricing per dollar of sales isn’t meaningful, and book- or earnings-based multiples make the better comparison.

Banco Santander (SAN) at 1.33 is valued about in line with its industry on P/B ratio, while Itaú Unibanco (ITUB) at 1.79 carries an above-peer premium to book — ITUB is pricier on assets.

Valuation Metrics