Club finances · statutory accounts
Real Madrid finances
- Reporting entity
- REAL MADRID CLUB DE FÚTBOL AND SUBSIDIARIES
- Division
- La Liga (this season)
- Latest period
- Year to 30 June 2025 (FY2025 · the 2024/25 season, in the La Liga)
- Registration number
- G-28034718
- Accounts
- Consolidated (whole group) in FY2022–FY2025; Company only (not the wider group) in FY2020–FY2021
- Currency
- euros (€), as filed — not converted to pounds
- Filed
- 17 July 2025
These figures come from the club’s audited annual report. Anything a filing does not disclose is shown as Not disclosed — FixtureShark never estimates it. Read the original FY2025 filing.
In brief
In the year to 30 June 2025, Real Madrid brought in revenue of €1.16bn, up from €1.04bn the year before. The club made an operating profit of €75.1m and ended the period with net assets of €598.3m.
More revenue is not the same as financial health: read it alongside profit or loss, cash and net assets.
FY2025 at a glance
Revenue
€1.16bn
€1,158,908,000
Operating profit
€75.1m
€75,143,000
Profit before tax
€31.4m
€31,353,000
Cash
€175.8m
€175,827,000
Borrowings
€1.3bn
€1,301,410,000
Net assets
€598.3m
€598,253,000
Average employees
1,191
Over time
† These years are not directly comparable with the years either side, so they are shown hatched and no trend is drawn through them:
- FY2020: restated or reclassified in later accounts, or a one-off break in the figures.
- FY2021: restated or reclassified in later accounts, or a one-off break in the figures.
- FY2022: the accounts start covering the whole group.
Hatched: not directly comparable with the years either side.
Bigger is not automatically healthier.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | €692.5m |
| FY2021 † not comparable | €648.4m |
| FY2022 † not comparable | €712.9m |
| FY2023 | €804.5m |
| FY2024 | €1.04bn |
| FY2025 | €1.16bn |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | Profit before tax €1.85m |
| FY2021 † not comparable | Profit before tax €1.74m |
| FY2022 † not comparable | Profit before tax €20.2m |
| FY2023 | Profit before tax €8.58m |
| FY2024 | Profit before tax €19.9m |
| FY2025 | Profit before tax €31.4m |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | €134.9m |
| FY2021 † not comparable | €266.5m |
| FY2022 † not comparable | €773.3m |
| FY2023 | €253.4m |
| FY2024 | €208.3m |
| FY2025 | €175.8m |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | Net assets €532.9m |
| FY2021 † not comparable | Net assets €533.7m |
| FY2022 † not comparable | Net assets €546.4m |
| FY2023 | Net assets €558.1m |
| FY2024 | Net assets €574.1m |
| FY2025 | Net assets €598.3m |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | 797 |
| FY2021 † not comparable | 819 |
| FY2022 † not comparable | 894 |
| FY2023 | 974 |
| FY2024 | 1,118 |
| FY2025 | 1,191 |
Hatched: not directly comparable with the years either side.
Show as a table
| Year | Value |
|---|---|
| FY2020 † not comparable | €411m |
| FY2021 † not comparable | €403m |
| FY2022 † not comparable | €519m |
| FY2023 | €452.7m |
| FY2024 | €505m |
| FY2025 | €514.2m |
Every year
| Figure | FY2020 †La Ligacompany | FY2021 †La Ligacompany | FY2022 †La Ligagroup | FY2023La Ligagroup | FY2024La Ligagroup | FY2025La Ligagroup |
|---|---|---|---|---|---|---|
| Revenue | €692.5m | €648.4m | €712.9m | €804.5m | €1.04bn | €1.16bn |
| Broadcast revenue | €148.6m | €207.7m | €178.9m | €186.8m | €179.3m | €162.1m |
| Commercial revenue | €312.1m | €314.2m | €290.1m | €329.8m | €406.6m | €481.2m |
| Other revenue | €231.9m | €126.4m | €243.8m | €287.9m | €457.8m | €515.7m |
| Staff costs | €411m | €403m | €519m | €452.7m | €505m | €514.2m |
| Operating profit or loss | €398k | €5.17m | €23.3m | €2.99m | €21.9m | €75.1m |
| Profit or loss before tax | €1.85m | €1.74m | €20.2m | €8.58m | €19.9m | €31.4m |
| Profit or loss after tax | €313k | €874k | €12.9m | €11.8m | €15.6m | €24.3m |
| Player amortisation | €159.2m | €158.5m | €163.8m | €138.9m | €117.4m | €115.8m |
| Player impairment (negative = reversed) | -€26m | -€16.5m | €60.9m | -€2.85m | €8.25m | €0 |
| Profit or loss on player sales | €101.2m | €105.5m | €62.4m | €55.6m | €21m | €32m |
| Cash | €134.9m | €266.5m | €773.3m | €253.4m | €208.3m | €175.8m |
| Borrowings | €304.9m | €530m | €953.4m | €932.2m | €1.26bn | €1.3bn |
| Total assets | €1.43bn | €1.58bn | €2.27bn | €2.32bn | €2.68bn | €2.84bn |
| Total liabilities | €901.1m | €1.05bn | €1.72bn | €1.76bn | €2.11bn | €2.24bn |
| Net assets or liabilities | €532.9m | €533.7m | €546.4m | €558.1m | €574.1m | €598.3m |
| Average employees | 797 | 819 | 894 | 974 | 1,118 | 1,191 |
| Staff costs as a share of revenue FixtureShark-derived | 59% | 62% | 73% | 56% | 48% | 44% |
- — Not disclosed in that year’s filing. A disclosed zero is shown as €0.
- Figures are in euros, as filed, and are not converted to pounds.
- Under each year: the division the club played in that season (La Liga); then group for consolidated accounts of the whole group, or company for the club company alone.
- Negative figures, in red, are losses or net liabilities. A negative player impairment is a reversal of earlier impairments, not a loss.
- † Not directly comparable with the years either side.
- Rows marked FixtureShark-derived are calculated by FixtureShark from the filed figures; everything else is as filed.
- Not disclosed in any period: Matchday revenue.
Sources and definitions
Where each figure comes from
Total revenue/turnover reported for the period.
| Year | Published | Concept | As filed | Filing | Mapping | Document |
|---|---|---|---|---|---|---|
| FY2020 † | €692,546,000 | pdf:RealMadrid_revenue_total | 692,546 EUR thousands | RMCF-BOARD-2020-07-29 | v3 | Filing |
| FY2021 † | €648,355,000 | pdf:RealMadrid_revenue_total | 648,355 EUR thousands | RMCF-BOARD-2021-07-14 | v3 | Filing |
| FY2022 † | €712,875,000 | pdf:RealMadrid_revenue_total | 712,875 EUR thousands | RMCF-BOARD-2022-07-18 | v3 | Filing |
| FY2023 | €804,498,000 | pdf:RealMadrid_revenue_total | 804,498 EUR thousands | RMCF-BOARD-2023-07-17 | v3 | Filing |
| FY2024 | €1,043,640,000 | pdf:RealMadrid_revenue_total | 1,043,640 EUR thousands | RMCF-BOARD-2024-07-23 | v3 | Filing |
| FY2025 | €1,158,908,000 | pdf:RealMadrid_revenue_total | 1,158,908 EUR thousands | RMCF-BOARD-2025-07-17 | v3 | Filing |
“As filed” is the value as it appears in the filing — its machine-readable (iXBRL) data where there is any, otherwise the printed statements and notes (concepts starting pdf:), where a figure built from several printed lines shows the sum. A dash means the filing did not disclose this figure. The mapping version records which rule turned the filed concept into this figure.
What each figure means
- Revenue
- Total revenue/turnover reported for the period.
- Broadcast revenue
- Revenue attributable to broadcasting/media rights where separately disclosed.
- Commercial revenue
- Revenue attributable to commercial activities where separately disclosed.
- Other revenue
- Other revenue not included in the principal disclosed categories.
- Staff costs
- Total staff/employee costs reported for the period.
- Operating profit or loss
- Operating profit or loss reported for the period.
- Profit or loss before tax
- Profit or loss before taxation.
- Profit or loss after tax
- Profit or loss after taxation for the financial period.
- Player amortisation
- Amortisation of player registrations/intangible player assets.
- Player impairment (negative = reversed)
- Impairment of player registrations/intangible player assets.
- Profit or loss on player sales
- Profit recognised on disposal of player registrations.
- Cash
- Cash and cash equivalents at the reporting date.
- Borrowings
- Interest-bearing borrowings disclosed at the reporting date; definition excludes derived net debt.
- Total assets
- Total assets at the reporting date.
- Total liabilities
- Total liabilities at the reporting date.
- Net assets or liabilities
- Net assets/equity at the reporting date.
- Average employees
- Average number of employees during the reporting period.
- Staff costs as a share of revenue (FixtureShark-derived)
- Staff costs divided by total revenue.