Real Madrid Reports Record Revenue, EBITDA and 26th Consecutive Annual Profit.

Roger Hampel

Image: Real Madrid

Real Madrid has become the first sports organisation in history to generate more than €1.2 billion in annual operating revenue, reporting record financial results for the 2025/26 season.

According to the club's annual accounts approved by its Board of Directors, operating revenue excluding player transfers reached €1.221 billion, an increase of 3.1% compared with the previous financial year.

The figures also represent the highest annual revenue ever reported by a sports organisation.

Record EBITDA and 26th Consecutive Annual Profit Real Madrid

Alongside record revenue, Real Madrid also reported the strongest operating profitability in the club's history.

EBITDA increased 18% to €287.4 million, while EBITDA before asset disposals reached €242.9 million, both setting new club records.

Net profit after tax totalled €26.3 million, up 8% year-on-year, extending Real Madrid's run of profitable financial years to 26 consecutive seasons dating back to 2000.

Santiago Bernabéu Continues to Transform the Business

One of the biggest contributors to the club's financial growth remains the redeveloped Santiago Bernabéu.

Stadium revenue increased 11% during the 2025/26 season to €363 million, more than double the €175 million generated in the final season before redevelopment began in 2018/19.

Marketing revenue also continued to expand, rising 6% to €539 million, supported by renewed sponsorship agreements and new commercial partnerships.

Together, stadium and marketing activities accounted for the vast majority of Real Madrid's long-term revenue growth.

Since the 2018/19 season, operating revenue has increased by 61%, with the club stating that 93% of that growth has come from businesses it operates directly, including the stadium and commercial activities.

Continued Investment in Sporting Performance

Real Madrid says its financial strategy remains centred on reinvesting profits back into the club.

During the 2025/26 financial year, the club invested €161 million in new player signings and €192 million across sporting infrastructure, technology and squad development.

The Santiago Bernabéu redevelopment has now reached a cumulative investment of €1.408 billion, while outstanding borrowing linked to the project has declined to €1.108 billion.

Financial Position Remains Strong

Excluding the stadium redevelopment project, Real Madrid finished the financial year with:

• €624 million in equity.

• €82.8 million in cash.

• Net debt of just €8.7 million.

• A 0.0x net debt-to-EBITDA ratio.

  
  

The club also reported €475 million in undrawn credit facilities, providing additional financial flexibility for future investment.

During the financial year, Real Madrid contributed €354.8 million in taxes and social security payments.