IBEX 35 stocks: 36 companies analyzed

The 36 IBEX 35 companies Fintols covers, with dated P/E, growth, margin and dividend figures and a plain-English analysis of each.

The IBEX 35 is the benchmark index for the Spanish stock market, tracking the 35 most liquid companies on the Madrid-based continuous market. It’s compiled by BME, the operator of Spain’s stock exchanges. Keep in mind that it’s a price index: it leaves out dividends, which are a big part of returns in Spain, so a separate version with dividends exists to measure total return. Many of its members earn much of their revenue abroad, especially in Europe and Latin America.

A body called the Technical Advisory Committee decides the lineup, holding regular reviews twice a year, in June and December, with interim follow-ups. Liquidity, meaning how actively a stock trades, is the main entry test, along with market value and a sufficient free float. Each company’s weight depends on its float-adjusted market capitalization. Banks, electric utilities, apparel retail, infrastructure and telecom have traditionally carried the most weight in the index. Because liquidity matters so much, a large company with few shares trading can be left out.

Beginners typically invest in it through index funds or ETFs that track it, which bundle all its members into a single purchase. Be aware that it’s concentrated in relatively few companies and sectors, so it offers less diversification than a global or U.S. index. Many investors outside Spain use it as a small piece of a broader European allocation rather than as a standalone, all-in bet on a single country’s economy.

With data as of November 4, 2026, of the 36 IBEX 35 companies Fintols covers, the largest by market value is Inditex (€184.0 billion), the fastest-growing in its latest quarter is Repsol (+51.8% in sales) and the highest dividend yield belongs to Naturgy (8.13%). The typical company in the group trades on a P/E of 16.2x and keeps a net margin of 10.7% (medians). Figures come from Yahoo Finance, the same source the Fintols analysis uses; N/A means the figure is not available.

By sector, the IBEX 35 companies on Fintols break down as: utilities and renewables (7), banking (6), construction and infrastructure (4), travel, leisure and gaming (3), telecommunications (2), healthcare and pharma (2), consumer staples (2), materials and chemicals (2), real estate (2), software and cloud (1), insurance (1), luxury and apparel (1), oil and gas (1), industrials (1), aerospace and defence (1).

IBEX 35 companies on Fintols

Other indices: S&P 500, S&P 100 and Euro Stoxx 50. All stocks by sector. Educational content, not investment advice.