REP Balance Sheet - Repsol SA

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Price: 28.08 EUR -0.78%

Market Cap: €33B

R	Repsol SA XMUN:REP	ES
A	Axilion Smart Mobility Ltd TASE:AILN	IL
N	Nippon Carbon Co Ltd F:NPV	JP
H	Hertz Lithium Inc OTC:HZLIF	CA
	Dauch Corp LSE:DCH	US
P	PCF Group PLC XBER:RLW	UK
	Capital Metals PLC F:N9R	UK
N	NORDWEST Handel AG SWB:NWX	DE
	IJJ Corp OTC:IJJP	US
	Scientific Industries Inc OTC:SCND	US
H	Hyprop Investments Ltd JSE:HYP	ZA
	Tokyu Fudosan Holdings Corp F:T8F	JP
	MK Seiko Co Ltd TSE:5906	JP
S	Streamplay Studio Ltd F:GIX0	AU

Financial profile · Q2 FY2026

A cyclical integrated energy model with substantial cash generation and capital needs

Repsol’s multi-year history shows a cyclical, integrated energy model: revenue and operating profit expand and contract sharply with commodity and refining conditions. Operating cash flow has remained positive and usually covered substantial capital spending, while share-count reductions indicate active capital return.

What is developing

The latest comparable period shows a broad earnings and cash-flow recovery, supported by stronger upstream and industrial conditions and lower capital spending. That improves the current profile but still fits Repsol’s established commodity-sensitive pattern rather than demonstrating a new financial model.

What matters next

Whether operating cash flow continues to exceed capital spending after working capital normalizes.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	3.2B	3.8B	4.1B	2.4B	2.2B	2.5B	2.7B	2.7B	3.4B	2.3B
Cash	3.2B	3.8B	4.1B	2.4B	2.2B	2.5B	2.7B	2.7B	3.4B	2.3B
Short-Term Investments	2.8B	1.2B	2.6B	3.6B	3.9B	6.6B	7.4B	6.1B	3.6B	5.8B
Total Receivables	5.8B	5.9B	5.9B	5.7B	3.9B	7.2B	8.5B	7.7B	7.2B	6.4B
Accounts Receivables	3.1B	4B	3.8B	3.8B	2.8B	5.8B	6.2B	5.6B	5.7B	5.2B
Other Receivables	2.7B	1.9B	2.1B	2B	1B	1.4B	2.4B	2.1B	1.5B	1.2B
Inventory	3.6B	3.8B	4.4B	4.6B	3.4B	5.2B	7.3B	6.6B	6.2B	5.5B
Other Current Assets	471m	204m	302m	200m	244m	931m	293m	240m	820m	1.4B
Total Current Assets	15.9B	14.8B	17.3B	16.5B	13.6B	22.4B	26.2B	23.5B	21.3B	21.4B
PP&E Net	27.3B	24.6B	25.4B	23.1B	20.9B	21.7B	22.5B	25.4B	28B	25.7B
PP&E Gross	27.3B	24.6B	25.4B	23.1B	20.9B	21.7B	22.5B	25.4B	28B	25.7B
Accumulated Depreciation	(27.5B)	(27.6B)	(28.9B)	(35.5B)	(34.4B)	(34.8B)	(37.9B)	(37.3B)	(40B)	(36.1B)
Intangible Assets	2B	1.8B	2.1B	2.3B	1.9B	2B	1.2B	2B	2.6B	2.4B
Goodwill	3.1B	2.8B	3B	2.2B	1.4B	1.5B	771m	500m	520m	509m
Long-Term Investments	11.4B	11.4B	8.4B	8.4B	6.9B	4.9B	5.8B	4.6B	4.8B	4.8B
Other Long-Term Assets	5.1B	4.5B	4.6B	5.4B	4.6B	3.7B	3.5B	5.7B	6.1B	4.7B
Other Assets	3.1B	2.8B	3B	2.2B	1.4B	1.5B	771m	500m	520m	509m
Total Assets	64.8B	59.9B	60.8B	57.9B	49.3B	56.3B	60B	61.6B	63.2B	59.4B
Accounts Payable	2.1B	2.7B	3.2B	3.6B	2.5B	5.5B	5B	4.9B	5.5B	4.6B
Accrued Liabilities	—	—	—	—	—	—	—	870m	646m	689m
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Current Portion of Long-Term Debt	3.9B	4.1B	4.4B	6.4B	3.6B	4.5B	3.2B	2.2B	2.8B	1.8B
Other Current Liabilities	8.7B	5.2B	5.2B	5B	4.4B	7.3B	8.7B	7.2B	6.8B	6.7B
Total Current Liabilities	14.7B	12B	12.8B	15.1B	10.5B	17.3B	16.9B	15.2B	15.7B	13.9B
Long-Term Debt	10.9B	8.7B	10.7B	10.8B	11.9B	10B	10.1B	8.3B	9.4B	11.4B
Deferred Income Tax	1.4B	1.1B	1B	2.4B	2.1B	2B	2.2B	3.3B	2.7B	2.4B
Minority Interest	244m	270m	286m	281m	244m	380m	679m	2.9B	2.6B	2.5B
Other Liabilities	6.7B	8B	5.4B	4.5B	4.2B	4.1B	4.7B	5.7B	6.3B	4.1B
Total Liabilities	34B	30.1B	30.2B	33B	29B	33.8B	34.7B	35.4B	36.7B	34.3B
Common Stock	1.5B	1.6B	1.6B	1.6B	1.6B	1.5B	1.3B	1.2B	1.2B	1.1B
Retained Earnings	19.5B	21.2B	21.8B	16.6B	13.8B	15.1B	17B	18.6B	18.4B	18.5B
Additional Paid In Capital	6.4B	6.4B	6.4B	6.3B	4.1B	4B	4B	4B	4B	4B
Unrealized Security Profit/Loss	6m	0	13m	24m	(3m)	(4m)	(15m)	(22m)	(22m)	(18m)
Treasury Stock	(1m)	(45m)	(350m)	(1.2B)	(162m)	(641m)	(3m)	(8m)	(2m)	(3m)
Other Equity	3.4B	620m	1.2B	1.6B	1B	2.4B	3B	2.4B	2.9B	1.6B
Total Equity	30.9B	29.8B	30.6B	24.9B	20.3B	22.4B	25.3B	26.2B	26.5B	25.1B
Total Liabilities & Equity	64.8B	59.9B	60.8B	57.9B	49.3B	56.3B	60B	61.6B	63.2B	59.4B
Common Shares Outstanding	2B	1.9B	1.8B	1.6B	1.5B	1.5B	1.3B	1.2B	1.2B	1.1B