NASDAQ : SLM
SLM Corporation — Financial statements
Financials · Credit Services · United States
Last price 18.25 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.34B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 2.52B | 2.63B | 2.62B | 2.59B | 2.03B | 1.78B |
| Total Interest Expense | 1.10B | 1.13B | 1.14B | 1.03B | 542.80M | 381.93M |
| Net Interest Income | 1.42B | 1.50B | 1.48B | 1.56B | 1.49B | 1.39B |
| Gain (Loss) on Sale of Loans & Receivables | 210.10M | 368.88M | 254.93M | 160.29M | 327.75M | 548.32M |
| Gain (Loss) on Sale of Investments | -10.02M | -9.79M | 467.00K | 2.68M | -60.27M | 39.10M |
| Other Revenue | 165.97M | 123.48M | 112.87M | 84.15M | 67.16M | 44.89M |
| Revenue Before Loan Losses | 1.79B | 1.98B | 1.85B | 1.81B | 1.82B | 2.03B |
| Provision for Loan Losses | 309.09M | 332.69M | 408.51M | 345.46M | 633.45M | -32.96M |
| Revenue | 1.48B | 1.65B | 1.44B | 1.46B | 1.19B | 2.06B |
| Salaries & Employee Benefits | 388.56M | 345.81M | 349.39M | 326.55M | 270.35M | 258.32M |
| Cost of Services Provided | 20.63M | 34.29M | 51.61M | 45.77M | 20.94M | 23.37M |
| Other Operating Expenses | 331.62M | 275.48M | 235.58M | 245.93M | 257.57M | 236.96M |
| Total Operating Expenses | 743.67M | 659.14M | 641.90M | 684.62M | 556.64M | 518.65M |
| Operating Income | 737.90M | 992.56M | 798.64M | 779.25M | 633.33M | 1.54B |
| EBT Excluding Unusual Items | 737.90M | 992.56M | 798.64M | 779.25M | 633.33M | 1.54B |
| Restructuring Charges | -1.25M | |||||
| Pretax Income | 737.90M | 992.56M | 798.64M | 778.30M | 630.73M | 1.54B |
| Income Tax Expense | 170.50M | 247.72M | 190.31M | 196.91M | 161.71M | 379.75M |
| Net Income | 567.40M | 744.85M | 608.33M | 581.39M | 469.01M | 1.16B |
| Preferred Dividends & Other Adjustments | 14.58M | 15.72M | 18.30M | 17.70M | 9.03M | 4.74M |
| Net Income to Common | 552.82M | 729.12M | 590.03M | 563.69M | 459.99M | 1.16B |
| Shares Outstanding (Basic) | 192.76M | 207.16M | 216.22M | 231.41M | 258.44M | 314.99M |
| Shares Outstanding (Diluted) | 195.31M | 210.91M | 219.93M | 234.06M | 261.50M | 319.91M |
| EPS (Basic) | 2.87 | 3.52 | 2.73 | 2.44 | 1.78 | 3.67 |
| EPS (Diluted) | 2.83 | 3.46 | 2.68 | 2.41 | 1.76 | 3.61 |
| Dividend Per Share | 0.52 | 0.52 | 0.46 | 0.44 | 0.44 | 0.20 |
| Operating Margin | 49.80% | 60.09% | 55.44% | 53.23% | 53.22% | 74.83% |
| Profit Margin | 37.31% | 44.14% | 40.96% | 38.51% | 38.66% | 56.10% |
| Effective Tax Rate | 23.11% | 24.96% | 23.83% | 25.30% | 25.64% | 24.65% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.17B | 4.24B | 4.70B | 4.15B | 4.62B | 4.33B |
| Long-Term Investments | 2.95B | 1.87B | 2.05B | 2.50B | 2.44B | 2.66B |
| Trading Asset Securities | 41.31M | 49.25M | 53.26M | 54.48M | 56.31M | 38.78M |
| Loans & Lease Receivables | 20.63B | 20.33B | 20.90B | 20.31B | 19.63B | 20.34B |
| Other Receivables | 2.10B | 1.91B | 1.97B | 1.75B | 1.58B | 1.45B |
| Property, Plant & Equipment | 122.94M | 122.19M | 119.35M | 129.50M | 140.73M | 150.52M |
| Goodwill | 56.10M | 56.10M | 56.10M | 56.10M | 50.65M | |
| Other Intangible Assets | 1.81M | 3.87M | 7.43M | 12.61M | 67.62M | |
| Restricted Cash | 273.84M | 177.38M | 178.77M | 158.90M | 167.88M | 220.40M |
| Other Long-Term Assets | 59.21M | 47.31M | 36.85M | 52.34M | 33.67M | 25.03M |
| Total Assets | 29.84B | 29.75B | 30.07B | 29.17B | 28.81B | 29.22B |
| Interest Bearing Deposits | 20.76B | 21.06B | 21.07B | 21.65B | 21.45B | 20.83B |
| Non-Interest Bearing Deposits | 1.19M | 184.00K | 1.82M | 1.53M | 1.42M | 1.43M |
| Total Deposits | 20.76B | 21.06B | 21.07B | 21.65B | 21.45B | 20.83B |
| Short-Term Debt | 898.73M | 498.42M | 40.00K | 370.00K | 247.00K | |
| Current Portion of Leases | 7.00M | |||||
| Long-Term Debt | 5.54B | 5.36B | 6.44B | 5.23B | 5.24B | 5.93B |
| Long-Term Leases | 20.00M | |||||
| Other Long-Term Liabilities | 389.93M | 346.87M | 403.24M | 407.60M | 400.87M | 312.83M |
| Total Liabilities | 27.59B | 27.29B | 27.91B | 27.29B | 27.08B | 27.07B |
| Common Stock | 89.14M | 88.65M | 88.12M | 87.65M | 87.03M | 86.40M |
| Additional Paid-In Capital | 1.27B | 1.24B | 1.19B | 1.15B | 1.11B | 1.07B |
| Retained Earnings | 4.98B | 4.73B | 4.11B | 3.62B | 3.16B | 2.82B |
| Comprehensive Income & Other | -81.76M | -40.13M | -65.86M | -75.10M | -93.87M | -17.90M |
| Total Common Equity | 2.00B | 2.20B | 1.91B | 1.63B | 1.48B | 1.90B |
| Shareholders' Equity | 2.26B | 2.45B | 2.16B | 1.88B | 1.73B | 2.15B |
| Total Liabilities & Equity | 29.84B | 29.75B | 30.07B | 29.17B | 28.81B | 29.22B |
| Total Debt | 6.43B | 5.89B | 6.44B | 5.23B | 5.24B | 5.93B |
| Net Cash (Debt) | -4.23B | -1.60B | -1.69B | -1.02B | -562.69M | -1.56B |
| Net Cash Per Share | -21.65 | -7.57 | -7.67 | -4.37 | -2.15 | -4.87 |
| Filing Date Shares Outstanding | 182.82M | 198.15M | 210.42M | 220.35M | 241.19M | 279.39M |
| Total Common Shares Outstanding | 182.82M | 199.27M | 210.38M | 220.34M | 240.68M | 278.96M |
| Working Capital | 4.99B | 6.08B | 6.74B | 4.76B | 4.63B | 5.56B |
| Book Value Per Share | 10.96 | 11.04 | 9.07 | 7.40 | 6.13 | 6.81 |
| Tangible Book Value | 1.95B | 2.14B | 1.85B | 1.56B | 1.36B | 1.90B |
| Tangible Book Value Per Share | 10.65 | 10.74 | 8.77 | 7.08 | 5.64 | 6.81 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 567.40M | 744.85M | 608.33M | 581.39M | 469.01M | 1.16B |
| Depreciation & Amortization | 19.71M | 19.72M | 22.98M | 84.17M | 25.11M | 16.04M |
| Other Amortization | 25.53M | 26.11M | 25.77M | 27.13M | 30.34M | 34.03M |
| Gain on Sale of Loans & Receivables | -210.10M | -368.88M | -254.93M | -160.29M | -327.75M | -548.32M |
| Loss (Gain) From Sale of Investments | 6.02M | 9.19M | -2.17M | -5.75M | 60.64M | -8.54M |
| Provision for Credit Losses | 309.09M | 332.69M | 408.51M | 345.46M | 633.45M | -32.96M |
| Stock-Based Compensation | 46.77M | 40.56M | 40.00M | 36.38M | 34.46M | 30.65M |
| Change in Accounts Payable | 8.23M | -10.96M | 3.42M | 33.48M | 24.99M | -13.67M |
| Change in Trading Asset Securities | 1.63M | -5.12M | ||||
| Change in Income Taxes | 33.49M | 30.28M | -20.41M | 36.72M | -15.06M | 72.19M |
| Change in Other Net Operating Assets | -68.70M | -100.78M | -28.70M | -66.03M | -33.50M | -97.22M |
| Other Operating Activities | -25.19M | 57.40M | -21.76M | -3.24M | -71.62M | 81.50M |
| Operating Cash Flow | -381.64M | -398.58M | -329.39M | -144.64M | 4.99M | -49.52M |
| Cash Acquisitions | -14.65M | -127.65M | ||||
| Investment in Securities | -912.12M | 367.52M | 740.57M | 159.68M | 206.89M | -391.36M |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | 334.22M | 679.24M | -64.58M | -157.49M | 998.16M | 3.00B |
| Investing Cash Flow | -577.91M | 1.05B | 675.99M | -12.46M | 1.08B | 2.60B |
| Long-Term Debt Issued | 1.73B | 2.21B | 1.14B | 572.64M | 2.08B | |
| Total Debt Issued | 2.01B | 1.73B | 2.21B | 1.14B | 572.64M | 2.08B |
| Long-Term Debt Repaid | -2.32B | -1.00B | -1.15B | -1.28B | -1.35B | |
| Total Debt Repaid | -2.42B | -2.32B | -1.00B | -1.15B | -1.28B | -1.35B |
| Net Debt Issued (Repaid) | -412.12M | -589.02M | 1.20B | -19.23M | -705.54M | 730.74M |
| Repurchase of Common Stock | -545.28M | -368.74M | -247.97M | -350.26M | -713.20M | -1.53B |
| Common Dividends Paid | -100.29M | -107.69M | -99.17M | -101.23M | -112.96M | -60.46M |
| Preferred Dividends Paid | -14.58M | -15.72M | -18.30M | -17.70M | -9.03M | -4.74M |
| Total Dividends Paid | -114.88M | -123.42M | -117.47M | -118.94M | -121.99M | -65.20M |
| Other Financing Activities | 738.29M | -22.74M | -609.00M | 172.20M | 685.84M | -1.75B |
| Financing Cash Flow | -333.99M | -1.10B | 228.16M | -316.23M | -854.89M | -2.62B |
| Net Cash Flow | -1.29B | -455.73M | 574.75M | -473.33M | 227.49M | -64.36M |
| Cash Interest Paid | 1.07B | 1.11B | 1.11B | 963.26M | 482.97M | 359.68M |
| Cash Income Tax Paid | 164.05M | 167.20M | 241.95M | 183.49M | 270.90M | 252.86M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.25B | 5.49B | 5.86B | 4.33B | 4.15B | 5.77B |
| PE Ratio | 6.30 | 7.54 | 9.93 | 7.67 | 9.03 | 4.99 |
| PS Ratio | 2.20 | 3.33 | 4.07 | 2.96 | 3.49 | 2.80 |
| PB Ratio | 1.62 | 2.24 | 2.71 | 2.30 | 2.40 | 2.68 |
| P/OCF Ratio | 831.99 | |||||
| Debt / Equity Ratio | 2.85 | 2.40 | 2.98 | 2.78 | 3.03 | 2.76 |
| Net Debt / Equity Ratio | 1.88 | 0.65 | 0.78 | 0.54 | 0.33 | 0.72 |
| Quick Ratio | 1.15 | 1.23 | 1.31 | 1.21 | 1.21 | 1.26 |
| Current Ratio | 1.23 | 1.28 | 1.32 | 1.22 | 1.22 | 1.27 |
| Asset Turnover | 0.05 | 0.06 | 0.05 | 0.05 | 0.04 | 0.07 |
| Return on Equity (ROE) | 24.69% | 32.30% | 30.11% | 32.23% | 24.20% | 49.25% |
| Return on Assets (ROA) | 1.91% | 2.49% | 2.05% | 2.00% | 1.62% | 3.87% |
| Return on Invested Capital (ROIC) | 6.67% | 8.79% | 7.75% | 8.27% | 6.26% | 14.67% |
| Earnings Yield | 15.88% | 13.56% | 10.39% | 13.44% | 11.29% | 20.12% |
| Dividend Yield | 2.92% | 1.89% | 1.65% | 2.24% | 2.55% | 0.97% |
| Payout Ratio | 18.39% | 16.57% | 19.31% | 20.46% | 26.01% | 5.62% |
| Buyback Yield / Dilution | 8.51% | 4.10% | 6.04% | 10.49% | 18.26% | 17.38% |
| Total Shareholder Return | 11.43% | 5.99% | 7.69% | 12.73% | 20.81% | 18.34% |