Spain’s top 10 companies by revenue in 2025 include Repsol, Santander, Iberdrola, Telefónica, Grupo ACS, Inditex, Endesa, BBVA, Mapfre, and International Consolidated Airlines. These companies span various industries such as energy, banking, construction, retail, telecommunications, and insurance, contributing to Spain’s economic growth.
1. Repsol
Industry: energy
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $84,120 Millions
Stock symbol: REP.MC
Repsol is a multinational energy company headquartered in Madrid, Spain. It was founded in 1987. With operations in over 30 countries, Repsol is involved in the exploration, production, refining, and distribution of oil and gas. They also have a presence in the renewable energy sector, focusing on wind and solar power. In 2025, Repsol has accelerated its investments in green hydrogen and sustainable fuels, positioning itself as a leader in energy transition in Europe. Repsol is known for its wide range of products and services, including gasoline, diesel, lubricants, and petrochemicals.
2. Santander
Industry: banking
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $56,880 Millions
Stock symbol: SAN
Santander is a multinational banking and financial services company headquartered in the city of Santander, Spain. It was founded in 1857. With operations in numerous countries, Santander operates in more than 40 countries worldwide. The company’s main activities include retail banking, commercial banking, investment banking, and asset management. Santander offers a wide range of products and services, including loans, mortgages, credit cards, savings accounts, and insurance. In 2025, Santander has expanded its digital banking platforms and enhanced its sustainability initiatives across its global operations. It is also known for its various brands, such as Santander Bank, Santander Consumer USA, and Banco Santander Brasil.
3. Iberdrola
Industry: energy
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $54,340 Millions
Stock symbol: IBE.MC
Iberdrola is a multinational energy company headquartered in Bilbao, Spain. It was founded in 1992. The company operates in numerous countries, including Spain, the United Kingdom, the United States, and Brazil. Iberdrola is primarily engaged in the generation, distribution, and sale of electricity and gas. It also offers renewable energy solutions and provides services related to energy efficiency. In 2025, Iberdrola continues to lead in renewable energy investments, notably in offshore wind and green hydrogen projects worldwide. Some of its notable brands include ScottishPower and Avangrid.
4. Telefónica
Industry: telecommunications
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $43,230 Millions
Stock symbol: TEF
Telefónica, founded in 1924, is headquartered in Madrid, Spain. It operates in multiple countries, with a presence in over 15 countries worldwide. Telefónica is primarily engaged in telecommunications activities, offering a wide range of products and services such as mobile and fixed-line telephony, broadband internet, and digital television. In 2025, Telefónica has expanded its 5G and fiber optic coverage across Europe and Latin America, and increased its focus on digital services and cybersecurity solutions. Some of its notable brands include Movistar, O2, and Vivo.
5. Grupo ACS
Industry: construction
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $34,910 Millions
Stock symbol: ACS.MC
Grupo ACS is a multinational company with its headquarters in Madrid, Spain. It was founded in 1997. The company operates in various countries around the world, with a presence in over 70 countries. Grupo ACS is primarily engaged in the construction and engineering sector, offering a wide range of services including civil works, industrial construction, and infrastructure development. In 2025, Grupo ACS is increasingly involved in sustainable infrastructure and smart city projects across Europe and North America. Some of its notable brands include Dragados, Cobra, and Hochtief.
6. Inditex
Industry: retail
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $34,020 Millions
Stock symbol: IDEXY
Inditex, headquartered in the city of Arteijo, Spain, was founded in 1985. It operates in numerous countries worldwide, with a presence in over 96 countries. Inditex is primarily engaged in the fashion industry, specializing in the design, manufacturing, and distribution of clothing, accessories, and footwear. In 2025, Inditex has continued to expand its e-commerce operations and has launched several sustainability-focused collections across its major brands. Some of its well-known brands include Zara, Pull&Bear, Massimo Dutti, and Bershka.
7. Endesa
Industry: energy
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $30,610 Millions
Stock symbol: ELE.MC
Endesa is a Spanish multinational electric utility company headquartered in Madrid. It was founded in 1944. With operations in Spain, Portugal, and several Latin American countries, Endesa operates in a total of 10 countries. The company’s main activities include the generation, distribution, and commercialization of electricity. Endesa offers a wide range of products and services related to energy, including renewable energy solutions. In 2025, Endesa has expanded its solar and wind energy capacity, and is pioneering battery storage projects in Spain. It is also known for its brands such as Endesa Energía and Endesa X.
8. Banco Bilbao Vizcaya Argentaria
Industry: financial services
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $28,470 Millions
Stock symbol: BBVA
Banco Bilbao Vizcaya Argentaria Home Page
Banco Bilbao Vizcaya Argentaria (BBVA) is headquartered in Bilbao, Spain, and was founded in 1857. It operates in multiple countries, with a presence in more than 30 countries worldwide. BBVA is primarily engaged in banking activities, offering a wide range of financial products and services such as retail banking, corporate banking, investment banking, and asset management. In 2025, BBVA has made significant advancements in digital banking and financial inclusion, particularly in Latin America. It also has various brands under its umbrella, including BBVA Compass in the United States and BBVA Continental in Peru.
9. Mapfre
Industry: insurance
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $23,780 Millions
Stock symbol: MAP.MC
Mapfre is a multinational insurance company headquartered in Madrid, Spain. It was founded in 1933. With operations in over 100 countries, Mapfre is a global player in the insurance industry. The company offers a wide range of insurance products and services, including auto, home, health, and life insurance. In 2025, Mapfre has expanded its digital insurance offerings and strengthened its presence in Latin America and the United States. Mapfre is known for its strong brand presence and commitment to providing reliable and comprehensive insurance solutions to its customers worldwide.
10. International Consolidated Airlines
Industry: transportation
Revenue (2024: Q1; 2025: Q2, Q3, Q4): $24,670 Millions
Stock symbol: BABWF
International Consolidated Airlines Home Page
International Consolidated Airlines, headquartered in London, United Kingdom, was founded in 2011. It operates in multiple countries, serving a total of 279 destinations worldwide. The company’s main activities include providing passenger and cargo transportation services through its subsidiaries, such as British Airways, Iberia, Aer Lingus, and Vueling. In 2025, the company has seen a strong recovery in international travel demand and is investing in sustainable aviation fuel initiatives. It offers a wide range of products and services, including flights, vacation packages, loyalty programs, and premium services.
The combined revenue of Spain’s top 10 companies amounts to $3.48 T
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