IBEX 35 Index was among the top global benchmarks in 2025. The index jumped from a January low of EUR11 820 to an all-time high of EUR17 335.
This year, the index that tracks Spain’s largest companies rose 52%. The FTSE MIB Index, on the other hand, rose by 32 percent, while the FTSE 100 Index, the DAX Index, and the CAC 40 Index each rose by 22 or 23 points.
Source: TradingView
Indra Sistemas is the IBEX35 stock that has performed best.
Indra Sistemas’ stock rose by 184% between 2025 and 2026, becoming the top performer on the IBEX 35 Index. The market cap of Indra Sistemas increased to EUR9.6 billion.
Recent results show that the company is doing very well. Its backlog has risen to EUR9.5 billion. The company’s revenue for the nine months rose by 6% while its EBITDA increased by 10%. The company’s profit rose 58%, to EUR291 millions.
This growth is due to the continued performance of European Defense Spending, which continues to grow in recent years. It also helps explain why companies such as Rheinmetall, Thales and BAE Systems have experienced a boom.
Solaria Energia
Solaria Energia ranked second in the IBEX 35 Index, with a 135% increase. Solaria Energia announced plans to triple capacity and increase profitability.
Solaria has committed to invest EUR2.5 billion. It expects this to triple the operational capacity of its company by 2028. Repsol signed the first 180MW wind contract and a deal for 150MW of solar power. Solaria has also expanded into the data centers industry, which is booming.
Moreover, the company’s EBITDA for nine months and its net profit rose to EUR 230 and EUR 141 millions, respectively.
Banco Santander
Banco Santander, another IBEX 35 top performer, grew by 126%. Its market capitalization grew to EUR161billion, which makes it the largest bank in the world.
Santander’s rise was similar to that of top European banks such as Societe Generale ,Lloyds Bank, Commerzbank and Deutsche Bank. The relatively high rates of interest and robustness in the European economy helped Santander.
Banco Santander increased its profit before taxes by 5.5% in the third-quarter to EUR4.65billion. The nine-month profits jumped nearly 5%, to more than EUR13.76 Billion.
Santander was followed by other Spanish banks such as BBVA CaixaBank Bankiter and Banco Sabadell. These Spanish banks grew 112%, 99% 86% and 80% respectively.
The IBEX 35 Index also saw gains from companies such as Mapfre and Acciona, in addition to Grupo ACS.
The IBEX Index’s top laggards
Only a few companies were in the red for this year. Puig Brands was the biggest loser, dropping by 16 percent. The retreat came after JPMorgan downgraded the stock, citing the decline in fragrance sales.
Other companies which have suffered this year include Telefonica, Cellnex Tel Redeia Corporacion Amadeus and Fluidra.
The post Why Spain’s IBEX 35 Index will jump 52% by 2025 could be updated as new information is revealed.
