ATLASLargest Companies in Spain by Market Cap (October 2026)
The 130 listed companies ATLAS covers in Spain range from small caps to national champions. These are the 25 largest by market value, converted to US dollars so they can be compared. The three biggest (Banco Santander, Industria de Diseno Textil, and Iberdrola) account for 42% of the combined market value of the whole list.
Data as of Oct 27, 2026. Prices and ratios are the latest stored close; this page refreshes at least every 6 hours.
| # | Company | Price | Market cap |
|---|---|---|---|
| 1 | SAN.MCBanco Santander | €11.15 | $195B |
| 2 | ITX.MCIndustria de Diseno Textil | €57.24 | $194B |
| 3 | IBE.MCIberdrola | €21.97 | $162B |
| 4 | BBVA.MCBanco Bilbao Vizcaya Argentaria | €22.73 | $142B |
| 5 | CABK.MCCaixabank | €11.46 | $92.3B |
| 6 | ELE.MCEndesa | €43.85 | $48.6B |
| 7 | AENA.MCAena | €26.62 | $43.3B |
| 8 | REP.MCRepsol | €29.45 | $35.3B |
| 9 | NTGY.MCNaturgy Energy | €30.54 | $31.8B |
| 10 | ACS.MCACS Actividades de Construccion y Servicios | €90.15 | $26.2B |
| 11 | AMS.MCAmadeus IT | €56.70 | $25.2B |
| 12 | IAG.MCInternational Consolidated Airlines | €4.91 | $24.0B |
| 13 | TEF.MCTelefonica | €3.20 | $20.8B |
| 14 | SAB.MCBanco de Sabadell | €3.52 | $19.0B |
| 15 | CLNX.MCCellnex Telecom | €25.42 | $18.6B |
| 16 | BKT.MCBankinter | €14.10 | $15.4B |
| 17 | MAP.MCMapfre | €4.31 | $15.0B |
| 18 | ANA.MCAcciona | €209.60 | $12.4B |
| 19 | IDR.MCIndra A | €62.40 | $12.4B |
| 20 | UNI.MCUnicaja Banco | €3.17 | $9.3B |
| 21 | RED.MCRedeia Corporacion | €15.02 | $9.2B |
| 22 | MRL.MCMerlin Properties SOCIMI | €11.27 | $8.0B |
| 23 | ANE.MCCorporacion Acciona Energias Renovables | €21.54 | $7.9B |
| 24 | GRF.MCGrifols | €10.71 | $7.6B |
| 25 | FCC.MCFomento de Construcciones y Contratas | €10.44 | $5.6B |
Fair value gap: a negative number means the price is below ATLAS fair value. "Chance up" is the probability of a higher close in 21 trading sessions (about a month) in ATLAS's calibrated model.
The top 10 in a sentence
- Banco Santander (SAN.MC) has a market value of $195B. It trades 14% above ATLAS fair value. ATLAS gives it a 52% chance of closing higher in a month.
- Industria de Diseno Textil (ITX.MC) has a market value of $194B. It trades 33% above ATLAS fair value. ATLAS gives it a 53% chance of closing higher in a month.
- Iberdrola (IBE.MC) has a market value of $162B. ATLAS gives it a 56% chance of closing higher in a month.
- Banco Bilbao Vizcaya Argentaria (BBVA.MC) has a market value of $142B. ATLAS puts it close to its fair value. ATLAS gives it a 52% chance of closing higher in a month.
- Caixabank (CABK.MC) has a market value of $92.3B. It trades 11% above ATLAS fair value. ATLAS gives it a 52% chance of closing higher in a month.
- Endesa (ELE.MC) has a market value of $48.6B. ATLAS puts it close to its fair value. ATLAS gives it a 54% chance of closing higher in a month.
- Aena (AENA.MC) has a market value of $43.3B. ATLAS puts it 23% below its fair value. ATLAS gives it a 53% chance of closing higher in a month.
- Repsol (REP.MC) has a market value of $35.3B. ATLAS puts it 20% below its fair value. ATLAS gives it a 51% chance of closing higher in a month.
- Naturgy Energy (NTGY.MC) has a market value of $31.8B. ATLAS puts it 31% below its fair value. ATLAS gives it a 54% chance of closing higher in a month.
- ACS Actividades de Construccion y Servicios (ACS.MC) has a market value of $26.2B. It trades 36% above ATLAS fair value. ATLAS gives it a 51% chance of closing higher in a month.
How the largest companies in Spain are ranked
Market value is price times shares outstanding, stored in US dollars so companies quoted in different currencies compare. Where market value and share count do not reconcile (several share classes, dual listings), the company is left out of the size ranking rather than shown with a wrong number.
There are no quality filters here: this is size, not merit. The fair value gap and the one-month probability are shown for context.
Limits: market values move every day with prices and exchange rates, and the figure shown is the latest ATLAS has stored. A large company is not automatically a safe or cheap one. This is information, not investment advice.
Frequently asked questions
What are the largest companies in Spain?
In October 2026, the three largest listed companies in Spain by market value are Banco Santander, Industria de Diseno Textil, and Iberdrola. The three together are worth $551B.
How concentrated is the stock market in Spain?
The three largest companies account for 42% of the combined market value of the 130 companies on the list, a quick measure of concentration.
Is the biggest company the best investment?
No. Size says how much the market values a company today, not whether it is cheap or likely to rise. Compare the fair value gap and the ratios on each company page.
How is market value measured here?
Price times shares outstanding, in US dollars at the latest exchange rate ATLAS has stored. Companies whose share count does not reconcile with their stored value are left out.
How often is this list updated?
Prices and values come from ATLAS's stored data, refreshed every day, and this page is rebuilt at least every 6 hours.
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Largest companies: other countries
Information only, not investment advice. ATLAS estimates come from statistical models using public data; they can be wrong, and past results do not guarantee future ones. Disclaimer