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.
Record revenue in sports
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.
Financial strength
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.
