Real Madrid have published their yearly results detailing the state of the club’s budget. Here are the main highlights of it.
* _Operating revenue reaches 1,221 million euros (+3.1%), surpassing the 1,200-million-euro mark for the first time, a level not reached to date by any other sports organization._
* _EBITDA rises to 287.4 million euros (+18%) and EBITDA before disposals to 242.9 million (+17%), the highest figures ever achieved by the club. Profit after tax comes to 26 million euros, 8% more than in 2024-2025._
* _Real Madrid’s tax and social security contributions reached 354.8 million euros in fiscal year 2025-2026._
* _The Santiago Bernabéu Stadium’s revenue is now more than twice the revenue before the renovation._
* _The Club continues to invest in its squads and in new businesses as a pillar of its competitive capacity_Source: Realmadrid.com
_The Board of Directors of Real Madrid C. F., meeting on July 28, 2026, has approved the annual accounts for the 2025-2026 financial year. The figures confirm the strength of the club’s economic model, which once again stands at the head of the global sports industry in revenue._
_Operating revenue, excluding player transfers, reached 1,221 million euros, 3.1% more than in the previous financial year. Real Madrid thus passes the 1,200 million euro barrier for the first time, a figure no other sports organization in the world has achieved to date and one that confirms the club as the revenue leader of the sports industry._
_This growth rests above all on the businesses the club operates directly: stadium revenue rose 11% and marketing revenue 6%, driven by the renewal of the main sponsorship contracts and the addition of new sponsors._
_Since 2018-2019, revenue has grown by 61%, but 93% of that growth comes from revenue managed directly by the club; stadium revenue, for example, has doubled (+107%) compared with 2018-2019, the last financial year before the works began._
**_The highest EBITDA in the club’s history_**
_Operating profit before depreciation and amortization (EBITDA) was 287.4 million euros, 18% higher than in the previous financial year. EBITDA before disposals of fixed assets reached 242.9 million euros, 17% more. Both figures are the highest ever achieved by Real Madrid and reflect the club’s continued improvement in operating efficiency._
_Profit after tax comes to 26.3 million euros, 8% more than in 2024-2025. With this result, the club records twenty-six consecutive financial years closing with a profit starting in 2000._
**_Everything is reinvested in the club_**
_Real Madrid is a club owned by its members. It does not distribute profits or receive outside capital contributions: all profits are reinvested in the club itself, in its facilities and in its sports squads._
_The renovation of the Santiago Bernabéu Stadium, now practically complete, represents a cumulative investment of 1,407.7 million euros._
_In the 2025-2026 financial year the club also invested 192 million euros in facilities, technology platforms and sports squads. Squad spending has increased by 166 million euros (+37%) since 2018-2019, while keeping the ratio of personnel expenses to revenue at 46%, well below the 50% threshold of excellence._
_This policy of sustained reinvestment is reflected on the pitch: Real Madrid keeps investing. In the 2025-2026 financial year alone, 161 million euros were allocated to player signings, and for the 2026-2027 season the club continues strengthening itself to keep competing at the highest level in football and basketball._
_The club maintains a very solid balance sheet position: net equity of 624 million euros, cash of 83 million and net debt of 9 million euros, excluding the stadium project, with a debt/EBITDA ratio of 0.0 times. In addition, the club has undrawn credit facilities of 475 million euros._
_Real Madrid’s contribution to tax revenue and Social Security in the 2025-2026 financial year amounted to 354.8 mines de euros._
You can read the full report [here](https://static.realmadrid.com/StaticFiles/RealMadrid/img/pdf/anexo_evolucion_economica_ingles.pdf).
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