Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) Key Metrics
BBVA key metrics, 2015–2025
Fiscal year ended December 31, 2025 · eurosBBVA returns How much profit the business earns on the capital it uses.
BBVA financial health Debt, liquidity and how easily interest is covered.
BBVA efficiency & capital use Working capital cycle and where the cash goes.
BBVA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BBVA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BBVA cash returned to shareholders
BBVA key metrics in euros
2015–2025| 2025 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 18.3% | 16.3% | 14.0% | 10.5% | 2.6% | 6.5% | 10.9% | 7.5% | 7.3% | 5.6% |
| Return on invested capital (ROIC) | — | 46.4% | — | — | — | — | — | — | — | — |
| Return on assets (ROA) | 1.2% | 1.1% | 0.9% | 0.7% | 0.2% | 0.5% | 0.8% | 0.5% | 0.5% | 0.4% |
| Return on tangible assets | 1.2% | 1.0% | 0.9% | 0.7% | 0.2% | 0.5% | 0.8% | 0.5% | 0.5% | 0.4% |
| Free cash flow margin | 35.6% | −4.4% | 52.7% | −7.0% | 127.1% | −27.2% | 20.3% | 1.9% | 12.7% | 58.8% |
| Income quality (OCF / net income) | 1.42 | −0.09 | 3.73 | −0.27 | 30.15 | −2.34 | 1.60 | 0.58 | 1.91 | 8.74 |
| Financial health | ||||||||||
| Total debt | €81.84B | €179.35B | €114.64B | €116.09B | €110.80B | €68.89B | €63.97B | €103.99B | €118.54B | €143.15B |
| Cash & short-term investments | €275.94B | €177.95B | €178.37B | €134.96B | €208.37B | €123.41B | €118.69B | €174.40B | €183.09B | €197.02B |
| Net debt | −€194.10B | €1.40B | −€63.73B | −€18.86B | −€97.57B | −€54.52B | −€54.72B | −€70.41B | −€64.55B | −€53.87B |
| Debt / equity | 1.43 | 3.47 | 2.44 | 2.64 | 2.49 | 1.25 | 1.21 | 2.24 | 2.50 | 3.03 |
| Debt / assets | 0.10 | 0.23 | 0.16 | 0.18 | 0.15 | 0.10 | 0.09 | 0.15 | 0.16 | 0.19 |
| Net debt / EBITDA | −10.94 | 0.10 | −5.50 | −2.22 | −14.93 | −6.47 | −6.36 | −8.46 | −8.26 | −9.17 |
| Current ratio | 0.44 | 0.35 | 0.40 | 0.38 | 0.52 | 561.94 | 0.28 | 0.41 | 0.41 | 0.41 |
| Quick ratio | 0.44 | 0.79 | 0.70 | 0.71 | 1.06 | — | 0.27 | 0.40 | 0.39 | 0.40 |
| Interest coverage | 1.0 | 0.5 | 0.8 | 0.9 | 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | 0.5 |
| Working capital | −€357.15B | −€373.95B | −€303.40B | −€272.92B | −€203.91B | €150.89B | −€380.90B | −€265.80B | −€286.40B | −€299.92B |
| Invested capital | −€136.75B | €53.10B | −€16.83B | €25.05B | −€53.02B | €402.0M | −€1.84B | −€24.06B | −€17.18B | −€6.58B |
| Tangible asset value | €56.09B | €52.90B | €48.36B | €46.56B | €47.67B | €43.00B | €38.38B | €44.86B | €45.64B | €45.23B |
| Net current asset value | −€521.83B | −€517.25B | −€457.22B | −€443.83B | −€460.88B | −€492.60B | −€476.25B | −€450.76B | −€481.32B | −€485.49B |
| Capital allocation | ||||||||||
| Dividends paid | €4.20B | €2.81B | €2.19B | €926.0M | €1.06B | €2.15B | €2.11B | €1.70B | €1.60B | €1.02B |
| Share buybacks (net) | €2.00B | €2.17B | €2.98B | €1.02B | €807.0M | €1.09B | €1.69B | €1.67B | €2.00B | €3.27B |
| Dividend payout ratio | 39.9% | 35.0% | 34.4% | 19.9% | 81.6% | 61.1% | 39.0% | 48.3% | 46.0% | 38.8% |
| Dividends + buybacks / free cash flow | 47.0% | — | 24.3% | — | 4.9% | — | 52.9% | 472.3% | 77.2% | 21.1% |
| Capex / revenue | 4.9% | 3.1% | 6.0% | 3.0% | 3.7% | 3.9% | 4.2% | 3.6% | 5.3% | 7.9% |
| Capex / operating cash flow | 12.1% | — | 10.3% | — | 2.9% | — | 17.3% | 65.3% | 29.5% | 11.9% |
| Capex / depreciation | 1.19 | 1.30 | 1.84 | 0.77 | 0.87 | 0.86 | 1.45 | 0.97 | 1.37 | 2.16 |
| Stock-based compensation / revenue | — | — | — | — | — | 0.1% | 0.1% | 0.1% | 0.2% | 0.1% |
| SG&A / revenue | 35.0% | 18.9% | 23.5% | 27.0% | 26.8% | 25.2% | 24.3% | 26.7% | 27.7% | 28.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 4,550.4 | 160.2 | 249.0 | 316.0 | 321.1 | 293.2 | 323.0 | 335.7 | 348.1 | 370.2 |
| Days of inventory on hand | — | -2,551.2 | -3,451.5 | -6,000.4 | -4,824.2 | -1,358.0 | 90.8 | 141.1 | 134.5 | 120.6 |
| Days payables outstanding | 30,201.4 | — | 10,080.8 | 13,050.2 | 5,614.7 | 5,051.3 | 10,219.1 | 5,242.3 | 7,374.2 | 16,199.5 |
| Cash conversion cycle (days) | -25,651.0 | — | -13,283.3 | -18,734.6 | -10,117.9 | -6,116.1 | -9,805.2 | -4,765.5 | -6,891.6 | -15,708.7 |
| Receivables turnover | 0.08 | 2.28 | 1.47 | 1.15 | 1.14 | 1.24 | 1.13 | 1.09 | 1.05 | 0.99 |
| Payables turnover | 0.01 | — | 0.04 | 0.03 | 0.07 | 0.07 | 0.04 | 0.07 | 0.05 | 0.02 |
| Inventory turnover | — | — | — | — | — | — | 4.02 | 2.59 | 2.71 | 3.03 |
| Asset turnover | 0.04 | 0.08 | 0.06 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Average receivables | €460.40B | €25.54B | €27.54B | €27.12B | €26.45B | €28.31B | €31.19B | €34.28B | €35.09B | €35.13B |
| Average payables | €502.50B | — | €433.56B | €405.92B | €202.28B | €215.03B | €428.95B | €214.02B | €288.99B | €577.81B |
| Average inventory | — | −€204.25B | −€148.44B | −€186.64B | −€173.80B | −€57.81B | €3.81B | €5.76B | €5.27B | €4.30B |
| Intangibles / total assets | 0.7% | 0.3% | 0.3% | 0.3% | 0.3% | 1.7% | 2.1% | 1.2% | 1.3% | 1.3% |
Computed from BBVA's annual financial statements (latest annual report filed February 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in euros; data from EODHD. Averages use the opening and closing balance of each year.
BBVA valuation and financial ratios
Banco Bilbao Vizcaya Argentaria earned a return on equity of 18.3% in fiscal 2025. It ended the year with €81.8 billion of debt and €275.9 billion in cash and short-term investments, a net cash position of €194.1 billion. It returned €6.2 billion to shareholders: €4.2 billion in dividends and €2.0 billion in share buybacks, 47% of free cash flow.
See the BBVA income statement, the BBVA chart for price history, or the BBVA stock overview for the latest quote and news.
BBVA key metrics FAQ
What is Banco Bilbao Vizcaya Argentaria's return on equity?
Banco Bilbao Vizcaya Argentaria's return on equity (ROE) was 18.3% in fiscal 2025: net income of €10.5 billion on average shareholders' equity of €54.5 billion.
How much debt does Banco Bilbao Vizcaya Argentaria have?
Banco Bilbao Vizcaya Argentaria had total debt of €81.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.43 and more cash than debt.
Does Banco Bilbao Vizcaya Argentaria buy back its shares?
Yes. Banco Bilbao Vizcaya Argentaria spent €2.0 billion on net share repurchases in fiscal 2025.
What is Banco Bilbao Vizcaya Argentaria's current ratio?
Banco Bilbao Vizcaya Argentaria's current ratio was 0.44 at the end of fiscal 2025: current assets were 0.44 times current liabilities.