Business · Markets · 7 hrs ago
Inditex regains its place as Spain’s most valuable listed company
Inditex overtook Santander as Spain’s most valuable listed company on Monday, based on their market values at the close of trading.
The company that owns Zara was valued at €172.724 billion, compared with €171.358 billion for the bank.
Inditex had lost the top spot to Santander in June; Santander had held it for the first time since 2018.
The switch came as Santander shares fell 2.18% during a difficult session for European banks, while Inditex shares were down 0.79%.
Analysts point to Inditex’s sales, cash reserves and ability to adapt its products to changing demand as reasons they see it as resilient.
Analysts say Santander could regain the lead soon, and market estimates put both companies’ shares above their Monday closing prices.
Inditex regained its position as Spain’s most valuable listed company, overtaking Santander.
Inditex closed Monday with a market value of 172.724 billion euros, 1.366 billion euros above Santander.
Santander had taken the lead in June, becoming the top-ranked company for the first time since 2018.
A decline in European banking shares helped drive Santander’s market value lower on Monday.
Analysts cited Inditex’s sales, cash generation and ability to adapt its products to demand as strengths.
- Who
- Inditex overtook Santander in market value.
- What
- Inditex regained its place as Spain’s most valuable listed company.
- When
- Monday, October 19, 2026.
- Where
- Spain’s stock market.
- Why
- Santander shares fell during a weak session for European banks, while Inditex’s market value remained higher.
This story does not have two clearly opposing sides.
Santander took the lead over Inditex in market value for the first time since 2018.
Inditex closed with a market value of 172.724 billion euros, moving back ahead of Santander.
- Inditex market value
- 172.724 billion euros
- Santander market value
- 171.358 billion euros
- Gap between companies
- 1.366 billion euros
- Santander share move on Monday
- Down 2.18%
- Inditex share move on Monday
- Down 0.79%
What people are saying
It continues to demonstrate a difficult-to-replicate ability to quickly adapt its offer to demand, combining growth, high inventory turnover and margins more typical of much more premium companies.
Galliano's first collection for Zara demonstrated Inditex's ability to expand its flagship brand.