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Navient Corporation — Financial statements

Financials · Credit Services · United States

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Financial statements

Income statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Interest and Dividend Income2.90B3.11B3.81B4.42B3.22B2.65B
Total Interest Expense2.38B2.62B3.20B3.55B1.97B1.29B
Net Interest Income520.00M489.00M606.00M873.00M1.25B1.36B
Gain (Loss) on Sale of Loans & Receivables78.00M
Other Revenue36.00M70.00M301.00M342.00M409.00M603.00M
Revenue Before Loan Losses601.00M610.00M961.00M1.28B1.74B2.21B
Provision for Loan Losses267.00M280.00M113.00M123.00M79.00M-61.00M
Revenue334.00M330.00M848.00M1.16B1.66B2.27B
Salaries & Employee Benefits124.00M149.00M316.00M401.00M444.00M569.00M
Other Operating Expenses241.00M272.00M364.00M399.00M332.00M638.00M
Total Operating Expenses370.00M424.00M688.00M810.00M795.00M1.24B
Operating Income-36.00M-94.00M160.00M346.00M863.00M1.03B
EBT Excluding Unusual Items-36.00M-94.00M160.00M346.00M863.00M1.03B
Restructuring Charges-16.00M-17.00M-39.00M-25.00M-36.00M-26.00M
Impairment of Goodwill-137.00M
Other Unusual Items-8.00M-73.00M
Pretax Income-52.00M-111.00M174.00M313.00M827.00M936.00M
Income Tax Expense-3.00M-31.00M43.00M85.00M182.00M219.00M
Earnings From Continuing Ops.-49.00M-80.00M131.00M228.00M645.00M717.00M
Net Income-49.00M-80.00M131.00M228.00M645.00M717.00M
Net Income to Common-49.00M-80.00M131.00M228.00M645.00M717.00M
Shares Outstanding (Basic)95.50M99.00M109.00M122.00M142.00M170.00M
Shares Outstanding (Diluted)95.50M99.00M111.00M123.00M144.00M172.00M
EPS (Basic)-0.51-0.811.201.874.544.22
EPS (Diluted)-0.52-0.811.181.854.494.18
Dividend Per Share0.640.640.640.640.640.64
Operating Margin-10.78%-28.48%18.87%29.93%52.05%45.55%
Profit Margin-14.67%-24.24%15.45%19.72%38.90%31.56%
Effective Tax Rate24.71%27.16%22.01%23.40%

Balance sheet

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents770.00M637.00M722.00M839.00M1.53B905.00M
Long-Term Investments64.00M126.00M113.00M100.00M105.00M120.00M
Trading Asset Securities26.00M42.00M25.00M55.00M56.00M218.00M
Loans & Lease Receivables42.25B43.59B46.57B54.83B62.25B72.81B
Other Receivables1.79B1.82B1.90B2.30B2.25B2.41B
Property, Plant & Equipment21.00M23.00M52.00M62.00M74.00M95.00M
Goodwill428.00M428.00M670.00M670.00M670.00M
Other Intangible Assets430.00M6.00M9.00M25.00M35.00M55.00M
Restricted Cash1.42B1.51B1.41B2.00B3.33B2.82B
Other Long-Term Assets526.00M500.00M559.00M493.00M490.00M501.00M
Total Assets47.30B48.68B51.79B61.38B70.80B80.61B
Short-Term Debt91.00M79.00M244.00M190.00M379.00M556.00M
Current Portion of Long-Term Debt4.21B5.07B5.13B4.23B5.75B2.19B
Long-Term Debt40.12B40.63B43.18B53.40B61.03B74.49B
Other Long-Term Liabilities471.00M497.00M586.00M797.00M664.00M765.00M
Total Liabilities44.90B46.28B49.15B58.62B67.82B78.00B
Common Stock4.00M4.00M4.00M4.00M4.00M4.00M
Additional Paid-In Capital3.41B3.40B3.38B3.35B3.31B3.28B
Retained Earnings4.56B4.55B4.70B4.64B4.49B3.94B
Comprehensive Income & Other14.00M2.00M3.00M19.00M87.00M-133.00M
Total Common Equity2.40B2.40B2.64B2.76B2.98B2.60B
Minority Interest11.00M
Shareholders' Equity2.40B2.40B2.64B2.76B2.98B2.61B
Total Liabilities & Equity47.30B48.68B51.79B61.38B70.80B80.61B
Total Debt44.43B45.78B48.56B57.82B67.15B77.23B
Net Cash (Debt)-43.63B-45.11B-47.81B-56.92B-65.56B-76.11B
Net Cash Per Share-456.88-455.62-430.77-462.80-455.30-442.49
Filing Date Shares Outstanding93.78M95.09M102.28M112.75M128.94M152.13M
Total Common Shares Outstanding93.78M95.51M103.03M113.50M130.21M153.74M
Working Capital41.95B42.45B45.25B55.61B63.29B76.42B
Book Value Per Share25.5725.1225.6324.3222.8616.89
Tangible Book Value1.97B1.97B2.20B2.06B2.27B1.87B
Tangible Book Value Per Share20.9820.5721.3918.1917.4512.18

Cash flow statement

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-49.00M-80.00M131.00M228.00M645.00M717.00M
Depreciation & Amortization5.00M3.00M8.00M10.00M14.00M19.00M
Gain on Sale of Loans & Receivables-78.00M
Loss (Gain) From Sale of Investments3.00M124.00M25.00M147.00M-590.00M-433.00M
Asset Writedown & Restructuring Costs138.00M5.00M11.00M
Provision for Credit Losses267.00M280.00M113.00M123.00M79.00M-61.00M
Stock-Based Compensation15.00M21.00M23.00M24.00M19.00M22.00M
Change in Accounts Payable3.00M-3.00M-31.00M29.00M159.00M-55.00M
Change in Other Net Operating Assets72.00M20.00M-105.00M157.00M121.00M440.00M
Other Operating Activities8.00M73.00M
Operating Cash Flow340.00M441.00M459.00M676.00M305.00M702.00M
Cash Acquisitions-16.00M
Divestitures25.00M359.00M
Net Decrease (Increase) in Loans Originated / Sold - Investing2.63B2.70B8.11B7.35B10.49B6.62B
Other Investing Activities6.00M-13.00M-6.00M5.00M96.00M68.00M
Investing Cash Flow2.64B2.71B8.47B7.36B10.59B6.67B
Short-Term Debt Issued176.00M8.00M1.09B
Long-Term Debt Issued2.66B1.11B2.35B2.24B9.21B
Total Debt Issued3.70B2.83B1.11B2.35B3.34B9.21B
Short-Term Debt Repaid-116.00M-2.17B
Long-Term Debt Repaid-5.90B-10.28B-11.91B-12.60B-13.87B
Total Debt Repaid-6.57B-5.90B-10.39B-11.91B-12.60B-16.03B
Net Debt Issued (Repaid)-2.87B-3.07B-9.29B-9.56B-9.26B-6.82B
Repurchase of Common Stock-78.00M-111.00M-179.00M-310.00M-400.00M-600.00M
Common Dividends Paid-61.00M-63.00M-70.00M-78.00M-91.00M-107.00M
Other Financing Activities90.00M88.00M-79.00M-101.00M89.00M197.00M
Financing Cash Flow-2.91B-3.15B-9.62B-10.05B-9.66B-7.33B
Net Cash Flow62.00M1.00M-690.00M-2.01B1.23B41.00M
Cash Interest Paid2.35B2.56B3.24B3.43B1.90B1.38B
Cash Income Tax Paid42.00M19.00M35.00M52.00M18.00M179.00M

Ratios

Fiscal year January - December; amounts in USD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization872.19M1.27B1.43B2.19B2.23B3.42B
PE Ratio10.899.603.464.77
PS Ratio2.613.841.681.891.351.50
PB Ratio0.360.530.540.790.751.31
P/OCF Ratio2.572.873.113.247.314.87
Debt / Equity Ratio18.5319.0918.3920.9522.5629.61
Net Debt / Equity Ratio18.2018.8018.1120.6222.0229.18
Quick Ratio10.418.959.1513.1410.7827.82
Current Ratio10.749.249.4113.5911.3328.85
Asset Turnover0.010.010.010.020.020.03
Return on Equity (ROE)-1.98%-3.17%4.85%7.95%23.10%28.37%
Return on Assets (ROA)-0.10%-0.16%0.23%0.34%0.85%0.85%
Return on Invested Capital (ROIC)-0.08%-0.19%0.22%0.39%0.90%0.95%
Earnings Yield-5.59%-6.31%9.18%10.42%28.91%20.96%
Dividend Yield6.88%4.82%4.62%3.32%3.74%2.88%
Payout Ratio53.44%34.21%14.11%14.92%
Buyback Yield / Dilution9.48%10.81%9.76%14.58%16.28%11.79%
Total Shareholder Return16.36%15.63%14.38%17.90%20.02%14.67%