Annual Income Statements for SLM
This table shows SLM's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for SLM
This table shows SLM's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
73 |
-81 |
114 |
261 |
25 |
164 |
285 |
247 |
-50 |
107 |
301 |
Consolidated Net Income / (Loss) |
|
75 |
-77 |
119 |
265 |
29 |
168 |
290 |
252 |
-45 |
112 |
305 |
Net Income / (Loss) Continuing Operations |
|
75 |
-77 |
119 |
265 |
29 |
168 |
290 |
252 |
-45 |
112 |
305 |
Total Pre-Tax Income |
|
105 |
-97 |
156 |
357 |
41 |
225 |
387 |
339 |
-60 |
132 |
403 |
Total Revenue |
|
465 |
341 |
427 |
531 |
409 |
443 |
561 |
514 |
384 |
390 |
581 |
Net Interest Income / (Expense) |
|
370 |
381 |
405 |
387 |
385 |
386 |
387 |
372 |
359 |
362 |
375 |
Total Interest Income |
|
520 |
584 |
638 |
634 |
652 |
669 |
664 |
641 |
653 |
661 |
656 |
Loans and Leases Interest Income |
|
483 |
527 |
583 |
568 |
581 |
596 |
597 |
565 |
565 |
587 |
599 |
Investment Securities Interest Income |
|
37 |
56 |
55 |
66 |
71 |
73 |
67 |
76 |
88 |
74 |
57 |
Total Interest Expense |
|
150 |
202 |
233 |
247 |
268 |
283 |
277 |
269 |
293 |
299 |
281 |
Deposits Interest Expense |
|
105 |
153 |
184 |
191 |
210 |
223 |
220 |
211 |
226 |
224 |
204 |
Short-Term Borrowings Interest Expense |
|
3.05 |
3.05 |
3.02 |
3.30 |
3.58 |
3.61 |
3.56 |
3.31 |
3.47 |
3.48 |
3.40 |
Long-Term Debt Interest Expense |
|
42 |
46 |
46 |
53 |
54 |
56 |
53 |
55 |
64 |
72 |
74 |
Total Non-Interest Income |
|
95 |
-41 |
22 |
144 |
24 |
57 |
174 |
142 |
25 |
28 |
206 |
Other Service Charges |
|
19 |
15 |
20 |
21 |
23 |
21 |
29 |
28 |
28 |
28 |
29 |
Net Realized & Unrealized Capital Gains on Investments |
|
76 |
-55 |
1.70 |
124 |
1.49 |
36 |
145 |
114 |
-3.87 |
0.07 |
177 |
Provision for Credit Losses |
|
208 |
297 |
114 |
18 |
198 |
16 |
12 |
17 |
271 |
108 |
23 |
Total Non-Interest Expense |
|
152 |
140 |
157 |
156 |
170 |
202 |
162 |
159 |
172 |
150 |
155 |
Salaries and Employee Benefits |
|
65 |
67 |
88 |
78 |
84 |
77 |
96 |
85 |
88 |
80 |
91 |
Property & Liability Insurance Claims |
|
4.59 |
9.44 |
12 |
9.85 |
12 |
12 |
13 |
12 |
13 |
14 |
12 |
Other Operating Expenses |
|
80 |
61 |
55 |
66 |
72 |
54 |
51 |
60 |
70 |
54 |
50 |
Amortization Expense |
|
2.33 |
2.30 |
2.27 |
2.25 |
2.83 |
59 |
1.22 |
1.39 |
1.23 |
1.50 |
1.02 |
Income Tax Expense |
|
30 |
-19 |
37 |
91 |
11 |
57 |
98 |
87 |
-14 |
21 |
99 |
Preferred Stock Dividends Declared |
|
2.53 |
3.47 |
4.06 |
4.27 |
4.64 |
4.73 |
4.65 |
4.63 |
4.65 |
4.37 |
3.96 |
Basic Earnings per Share |
|
$0.29 |
($0.27) |
$0.47 |
$1.11 |
$0.11 |
$0.75 |
$1.29 |
$1.13 |
($0.23) |
$0.54 |
$1.43 |
Weighted Average Basic Shares Outstanding |
|
251.27M |
258.44M |
241.50M |
235.06M |
226.12M |
231.41M |
220.42M |
218.92M |
214.87M |
216.22M |
210.68M |
Diluted Earnings per Share |
|
$0.29 |
($0.27) |
$0.47 |
$1.10 |
$0.11 |
$0.73 |
$1.27 |
$1.11 |
($0.23) |
$0.53 |
$1.40 |
Weighted Average Diluted Shares Outstanding |
|
253.72M |
261.50M |
243.55M |
237.59M |
228.80M |
234.06M |
223.85M |
222.47M |
214.87M |
219.93M |
214.99M |
Weighted Average Basic & Diluted Shares Outstanding |
|
250.20M |
241.19M |
242.25M |
226.08M |
226.27M |
220.35M |
220.28M |
217.46M |
212.33M |
210.42M |
210.74M |
Cash Dividends to Common per Share |
|
$0.11 |
$0.11 |
$0.11 |
$0.11 |
$0.11 |
$0.11 |
$0.11 |
$0.11 |
$0.11 |
$0.13 |
$0.13 |
Annual Cash Flow Statements for SLM
This table details how cash moves in and out of SLM's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
56 |
-472 |
-336 |
1,046 |
3,039 |
-1,111 |
-64 |
227 |
-473 |
575 |
Net Cash From Operating Activities |
|
-85 |
-199 |
-171 |
-103 |
-16 |
-183 |
-50 |
4.99 |
-145 |
-329 |
Net Cash From Continuing Operating Activities |
|
-85 |
-199 |
-171 |
-103 |
-16 |
-183 |
-50 |
4.99 |
-145 |
-329 |
Net Income / (Loss) Continuing Operations |
|
274 |
250 |
289 |
487 |
578 |
881 |
1,161 |
469 |
581 |
608 |
Consolidated Net Income / (Loss) |
|
274 |
250 |
289 |
487 |
578 |
881 |
1,161 |
469 |
581 |
608 |
Provision For Loan Losses |
|
90 |
159 |
186 |
245 |
354 |
93 |
-33 |
633 |
345 |
409 |
Depreciation Expense |
|
7.40 |
9.59 |
11 |
14 |
15 |
15 |
16 |
17 |
18 |
18 |
Amortization Expense |
|
20 |
19 |
21 |
27 |
34 |
53 |
41 |
38 |
91 |
29 |
Non-Cash Adjustments to Reconcile Net Income |
|
-58 |
-59 |
-17 |
32 |
-5.14 |
-142 |
-462 |
-310 |
-133 |
-237 |
Changes in Operating Assets and Liabilities, net |
|
-418 |
-578 |
-661 |
-908 |
-992 |
-1,083 |
-772 |
-843 |
-1,047 |
-1,156 |
Net Cash From Investing Activities |
|
-1,848 |
-3,309 |
-3,160 |
-3,255 |
-2,307 |
947 |
2,605 |
1,077 |
-12 |
676 |
Net Cash From Continuing Investing Activities |
|
-1,848 |
-3,309 |
-3,160 |
-3,255 |
-2,307 |
947 |
2,605 |
1,077 |
-12 |
676 |
Purchase of Investment Securities |
|
-64 |
-56 |
-78 |
-16 |
-356 |
-2,083 |
-1,257 |
-881 |
-121 |
-92 |
Sale of Property, Leasehold Improvements and Equipment |
|
1,547 |
9.52 |
6.99 |
45 |
0.00 |
3,876 |
8,488 |
7,046 |
6,245 |
6,972 |
Sale and/or Maturity of Investments |
|
145 |
104 |
89 |
133 |
94 |
700 |
885 |
993 |
316 |
860 |
Other Investing Activities, net |
|
-3,476 |
-3,366 |
-3,178 |
-3,416 |
-2,044 |
-1,545 |
-5,512 |
-6,081 |
-6,452 |
-7,064 |
Net Cash From Financing Activities |
|
1,989 |
3,036 |
2,995 |
4,403 |
5,361 |
-1,876 |
-2,620 |
-855 |
-316 |
228 |
Net Cash From Continuing Financing Activities |
|
1,989 |
3,036 |
2,995 |
4,403 |
5,361 |
-1,876 |
-2,620 |
-855 |
-316 |
228 |
Net Change in Deposits |
|
932 |
1,973 |
2,076 |
3,418 |
5,246 |
-1,729 |
-1,750 |
689 |
175 |
-607 |
Issuance of Debt |
|
1,831 |
2,152 |
1,937 |
2,191 |
1,403 |
1,831 |
2,076 |
572 |
1,135 |
2,207 |
Repayment of Debt |
|
-754 |
-1,068 |
-837 |
-1,190 |
-1,053 |
-1,296 |
-1,349 |
-1,281 |
-1,157 |
-1,006 |
Repurchase of Common Equity |
|
- |
- |
0.00 |
0.00 |
-167 |
-558 |
-1,531 |
-713 |
-350 |
-248 |
Payment of Dividends |
|
-20 |
-21 |
-16 |
-16 |
-68 |
-56 |
-65 |
-122 |
-119 |
-117 |
Cash Interest Paid |
|
112 |
170 |
269 |
472 |
666 |
517 |
360 |
1,073 |
963 |
1,742 |
Cash Income Taxes Paid |
|
231 |
272 |
284 |
242 |
203 |
254 |
270 |
275 |
200 |
245 |
Quarterly Cash Flow Statements for SLM
This table details how cash moves in and out of SLM's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
1,228 |
-252 |
-875 |
128 |
-303 |
576 |
-568 |
1,673 |
-744 |
214 |
-1,006 |
Net Cash From Operating Activities |
|
3.37 |
-0.88 |
8.89 |
-67 |
-59 |
-27 |
-77 |
-144 |
-113 |
4.54 |
-146 |
Net Cash From Continuing Operating Activities |
|
3.37 |
-0.88 |
8.89 |
-67 |
-59 |
-27 |
-77 |
-144 |
-113 |
4.54 |
-145 |
Net Income / (Loss) Continuing Operations |
|
75 |
-77 |
119 |
265 |
29 |
168 |
290 |
252 |
-45 |
112 |
305 |
Consolidated Net Income / (Loss) |
|
75 |
-77 |
119 |
265 |
29 |
168 |
290 |
252 |
-45 |
112 |
305 |
Provision For Loan Losses |
|
208 |
297 |
114 |
18 |
198 |
16 |
12 |
17 |
271 |
108 |
23 |
Depreciation Expense |
|
4.35 |
4.49 |
4.52 |
4.62 |
4.26 |
4.41 |
4.71 |
4.56 |
4.22 |
4.16 |
3.95 |
Amortization Expense |
|
9.44 |
8.64 |
8.92 |
8.11 |
9.11 |
65 |
7.36 |
7.12 |
6.94 |
7.91 |
7.30 |
Non-Cash Adjustments to Reconcile Net Income |
|
-36 |
-209 |
50 |
-18 |
23 |
-188 |
-31 |
-15 |
1.10 |
-192 |
-61 |
Changes in Operating Assets and Liabilities, net |
|
-257 |
-25 |
-287 |
-344 |
-323 |
-93 |
-360 |
-409 |
-352 |
-35 |
-423 |
Net Cash From Investing Activities |
|
-344 |
63 |
-1,471 |
2,231 |
-1,695 |
923 |
572 |
1,649 |
-1,814 |
269 |
497 |
Net Cash From Continuing Investing Activities |
|
-344 |
63 |
-1,471 |
2,231 |
-1,695 |
923 |
572 |
1,649 |
-1,814 |
269 |
496 |
Purchase of Investment Securities |
|
-0.09 |
- |
-4.99 |
-40 |
-41 |
-35 |
-26 |
-34 |
-17 |
-15 |
-39 |
Sale of Property, Leasehold Improvements and Equipment |
|
1,954 |
752 |
913 |
2,850 |
733 |
1,749 |
2,901 |
2,242 |
641 |
1,189 |
2,983 |
Sale and/or Maturity of Investments |
|
80 |
158 |
85 |
90 |
80 |
61 |
291 |
140 |
342 |
88 |
335 |
Other Investing Activities, net |
|
-2,377 |
-846 |
-2,463 |
-669 |
-2,468 |
-852 |
-2,593 |
-698 |
-2,780 |
-993 |
-2,783 |
Net Cash From Financing Activities |
|
1,568 |
-314 |
587 |
-2,036 |
1,452 |
-319 |
-1,063 |
167 |
1,183 |
-59 |
-1,357 |
Net Cash From Continuing Financing Activities |
|
1,568 |
-314 |
587 |
-2,036 |
1,452 |
-319 |
-1,063 |
167 |
1,183 |
-59 |
-1,357 |
Net Change in Deposits |
|
1,308 |
163 |
345 |
-1,444 |
1,182 |
92 |
-756 |
-165 |
695 |
-381 |
-999 |
Issuance of Debt |
|
573 |
-0.42 |
570 |
-0.36 |
566 |
-0.03 |
0.00 |
665 |
864 |
677 |
494 |
Repayment of Debt |
|
-272 |
-292 |
-293 |
-304 |
-267 |
-294 |
-253 |
-241 |
-234 |
-279 |
-790 |
Repurchase of Common Equity |
|
-10 |
-158 |
-4.01 |
-255 |
- |
-91 |
-25 |
-61 |
-114 |
-47 |
-30 |
Payment of Dividends |
|
-30 |
-30 |
-31 |
-30 |
-30 |
-29 |
-29 |
-29 |
-28 |
-32 |
-31 |
Cash Interest Paid |
|
111 |
787 |
199 |
250 |
242 |
272 |
284 |
251 |
289 |
917 |
417 |
Cash Income Taxes Paid |
|
100 |
53 |
12 |
78 |
89 |
21 |
8.28 |
158 |
71 |
7.81 |
11 |
Annual Balance Sheets for SLM
This table presents SLM's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
15,214 |
18,533 |
21,780 |
26,638 |
32,686 |
30,770 |
29,222 |
28,811 |
29,169 |
30,072 |
Cash and Due from Banks |
|
2,416 |
1,919 |
1,534 |
2,559 |
5,564 |
4,455 |
4,335 |
4,616 |
4,150 |
4,700 |
Restricted Cash |
|
28 |
54 |
102 |
123 |
157 |
154 |
211 |
157 |
150 |
174 |
Trading Account Securities |
|
195 |
209 |
244 |
232 |
488 |
4,899 |
2,555 |
2,427 |
2,466 |
1,986 |
Loans and Leases, Net of Allowance |
|
11,631 |
15,138 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Premises and Equipment, Net |
|
81 |
87 |
90 |
106 |
135 |
155 |
151 |
141 |
130 |
119 |
Intangible Assets |
|
- |
- |
- |
- |
- |
- |
0.00 |
118 |
69 |
64 |
Other Assets |
|
863 |
1,127 |
1,242 |
1,348 |
26,343 |
21,107 |
21,971 |
21,352 |
22,206 |
23,028 |
Total Liabilities & Shareholders' Equity |
|
15,214 |
18,533 |
21,780 |
26,638 |
32,686 |
30,770 |
29,222 |
28,811 |
29,169 |
30,072 |
Total Liabilities |
|
13,118 |
16,186 |
19,305 |
23,666 |
29,375 |
28,208 |
27,072 |
27,084 |
27,289 |
27,912 |
Non-Interest Bearing Deposits |
|
11,488 |
13,436 |
15,500 |
18,943 |
24,284 |
22,666 |
20,828 |
21,448 |
21,653 |
21,069 |
Long-Term Debt |
|
579 |
2,168 |
3,275 |
4,284 |
4,354 |
5,189 |
5,931 |
5,235 |
5,228 |
6,440 |
Other Long-Term Liabilities |
|
551 |
582 |
525 |
438 |
447 |
352 |
313 |
401 |
408 |
403 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
2,096 |
2,347 |
2,474 |
2,973 |
3,312 |
2,563 |
2,150 |
1,727 |
1,881 |
2,160 |
Total Preferred & Common Equity |
|
2,096 |
2,347 |
2,474 |
2,973 |
2,912 |
2,312 |
2,150 |
1,727 |
1,881 |
2,160 |
Preferred Stock |
|
565 |
565 |
400 |
400 |
- |
- |
251 |
251 |
251 |
251 |
Total Common Equity |
|
1,531 |
1,782 |
2,074 |
2,573 |
2,912 |
2,312 |
1,899 |
1,476 |
1,630 |
1,909 |
Common Stock |
|
1,222 |
1,263 |
1,311 |
1,365 |
1,398 |
1,423 |
1,161 |
1,196 |
1,236 |
1,282 |
Retained Earnings |
|
367 |
595 |
868 |
1,340 |
1,851 |
1,722 |
2,817 |
3,164 |
3,625 |
4,114 |
Treasury Stock |
|
-41 |
-67 |
-108 |
-143 |
-325 |
-799 |
-2,061 |
-2,790 |
-3,156 |
-3,422 |
Accumulated Other Comprehensive Income / (Loss) |
|
-16 |
-8.67 |
2.75 |
11 |
-12 |
-34 |
-18 |
-94 |
-75 |
-66 |
Quarterly Balance Sheets for SLM
This table presents SLM's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
29,139 |
29,454 |
27,708 |
29,273 |
28,277 |
28,769 |
30,013 |
28,899 |
Cash and Due from Banks |
|
4,847 |
3,716 |
3,876 |
3,548 |
3,584 |
5,262 |
4,490 |
3,695 |
Trading Account Securities |
|
2,509 |
2,389 |
2,425 |
2,369 |
2,329 |
2,344 |
2,563 |
1,711 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
20,460 |
21,091 |
Premises and Equipment, Net |
|
144 |
138 |
135 |
133 |
127 |
126 |
123 |
117 |
Intangible Assets |
|
121 |
116 |
114 |
128 |
67 |
66 |
65 |
63 |
Other Assets |
|
21,341 |
22,913 |
21,008 |
22,921 |
22,021 |
20,828 |
2,141 |
2,045 |
Total Liabilities & Shareholders' Equity |
|
29,139 |
29,454 |
27,708 |
29,273 |
28,277 |
28,769 |
30,013 |
28,899 |
Total Liabilities |
|
27,157 |
27,627 |
25,902 |
27,474 |
26,164 |
26,486 |
27,879 |
26,498 |
Non-Interest Bearing Deposits |
|
21,277 |
21,804 |
20,361 |
21,551 |
20,903 |
20,744 |
21,445 |
20,073 |
Long-Term Debt |
|
5,522 |
5,514 |
5,214 |
5,516 |
4,977 |
5,403 |
6,037 |
6,147 |
Other Long-Term Liabilities |
|
358 |
309 |
327 |
408 |
283 |
339 |
397 |
278 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
1,982 |
1,827 |
1,806 |
1,799 |
2,114 |
2,283 |
2,134 |
2,401 |
Total Preferred & Common Equity |
|
1,731 |
1,827 |
1,555 |
1,799 |
2,114 |
2,032 |
2,134 |
2,401 |
Preferred Stock |
|
- |
251 |
- |
251 |
251 |
- |
- |
251 |
Total Common Equity |
|
1,731 |
1,576 |
1,555 |
1,548 |
1,863 |
2,032 |
2,134 |
2,150 |
Common Stock |
|
1,189 |
1,209 |
1,217 |
1,228 |
1,252 |
1,262 |
1,524 |
1,298 |
Retained Earnings |
|
3,271 |
3,250 |
3,486 |
3,486 |
3,885 |
4,108 |
4,035 |
4,386 |
Treasury Stock |
|
-2,635 |
-2,805 |
-3,064 |
-3,064 |
-3,197 |
-3,259 |
-3,375 |
-3,478 |
Accumulated Other Comprehensive Income / (Loss) |
|
-93 |
-78 |
-84 |
-101 |
-77 |
-79 |
-50 |
-56 |
Annual Metrics And Ratios for SLM
This table displays calculated financial ratios and metrics derived from SLM's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
20.30% |
8.48% |
17.31% |
20.85% |
22.85% |
8.32% |
11.91% |
-10.05% |
-0.77% |
2.20% |
EBITDA Growth |
|
30.99% |
-4.93% |
18.14% |
14.57% |
32.08% |
54.20% |
30.75% |
-57.04% |
29.23% |
-4.65% |
EBIT Growth |
|
31.55% |
-5.61% |
18.59% |
13.81% |
32.97% |
55.16% |
33.47% |
-59.05% |
23.40% |
2.61% |
NOPAT Growth |
|
41.54% |
-8.73% |
15.42% |
68.72% |
18.63% |
52.30% |
31.77% |
-59.59% |
23.96% |
4.63% |
Net Income Growth |
|
41.54% |
-8.73% |
15.42% |
68.72% |
18.63% |
52.30% |
31.77% |
-59.59% |
23.96% |
4.63% |
EPS Growth |
|
40.48% |
-10.17% |
16.98% |
72.58% |
21.50% |
73.08% |
60.44% |
-51.25% |
36.93% |
11.20% |
Operating Cash Flow Growth |
|
80.52% |
-133.97% |
14.00% |
39.97% |
84.78% |
-1,067.89% |
72.89% |
110.08% |
-2,997.38% |
-127.74% |
Free Cash Flow Firm Growth |
|
-127.93% |
-1.66% |
13.18% |
-7.87% |
88.25% |
1,004.12% |
-23.24% |
90.85% |
-72.59% |
-303.06% |
Invested Capital Growth |
|
73.53% |
42.18% |
27.34% |
26.22% |
9.62% |
-2.55% |
4.24% |
-13.84% |
2.10% |
20.99% |
Revenue Q/Q Growth |
|
12.29% |
-0.52% |
2.96% |
8.65% |
1.19% |
-2.57% |
8.14% |
-8.95% |
5.99% |
-2.79% |
EBITDA Q/Q Growth |
|
27.95% |
-6.64% |
0.23% |
15.74% |
-1.65% |
46.08% |
-8.63% |
-42.52% |
74.19% |
-15.07% |
EBIT Q/Q Growth |
|
29.71% |
-7.04% |
-0.03% |
16.39% |
-2.10% |
49.87% |
-8.88% |
-44.54% |
70.50% |
-10.44% |
NOPAT Q/Q Growth |
|
34.35% |
-7.26% |
-7.44% |
25.97% |
-1.05% |
49.44% |
-9.82% |
-44.97% |
73.08% |
-8.55% |
Net Income Q/Q Growth |
|
34.35% |
-7.26% |
-7.44% |
25.97% |
-1.05% |
49.44% |
-9.82% |
-44.97% |
73.08% |
-8.55% |
EPS Q/Q Growth |
|
37.21% |
-8.62% |
-7.46% |
25.88% |
0.00% |
59.57% |
0.56% |
-45.17% |
70.92% |
-6.94% |
Operating Cash Flow Q/Q Growth |
|
74.02% |
-102.95% |
7.09% |
24.75% |
82.17% |
-23.94% |
27.85% |
-90.30% |
-22.19% |
8.77% |
Free Cash Flow Firm Q/Q Growth |
|
16.20% |
-76.74% |
1.62% |
33.12% |
4.74% |
-28.89% |
-5.95% |
76.72% |
-17.22% |
-364.32% |
Invested Capital Q/Q Growth |
|
-3.80% |
7.83% |
5.29% |
-1.57% |
-1.58% |
8.45% |
7.02% |
-7.23% |
-2.82% |
5.26% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
52.68% |
46.16% |
46.49% |
44.08% |
47.39% |
67.46% |
78.81% |
37.64% |
49.02% |
45.73% |
EBIT Margin |
|
49.61% |
43.16% |
43.63% |
41.09% |
44.48% |
63.71% |
75.98% |
34.59% |
43.02% |
43.19% |
Profit (Net Income) Margin |
|
30.99% |
26.07% |
25.65% |
35.81% |
34.58% |
48.62% |
57.25% |
25.72% |
32.13% |
32.90% |
Tax Burden Percent |
|
62.47% |
60.40% |
58.79% |
87.15% |
77.75% |
76.32% |
75.35% |
74.36% |
74.70% |
76.17% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
37.53% |
39.60% |
41.21% |
12.85% |
22.25% |
23.68% |
24.65% |
25.64% |
25.30% |
23.83% |
Return on Invested Capital (ROIC) |
|
10.96% |
6.51% |
5.63% |
7.50% |
7.60% |
11.21% |
14.66% |
6.24% |
8.26% |
7.75% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
10.96% |
6.51% |
5.63% |
7.50% |
7.60% |
11.21% |
14.66% |
6.24% |
8.26% |
7.75% |
Return on Net Nonoperating Assets (RNNOA) |
|
3.01% |
4.76% |
6.36% |
10.40% |
10.80% |
18.77% |
34.59% |
17.96% |
23.97% |
22.36% |
Return on Equity (ROE) |
|
13.97% |
11.27% |
11.99% |
17.90% |
18.40% |
29.98% |
49.25% |
24.20% |
32.23% |
30.11% |
Cash Return on Invested Capital (CROIC) |
|
-42.81% |
-28.32% |
-18.42% |
-15.68% |
-1.58% |
13.80% |
10.51% |
21.11% |
6.19% |
-11.25% |
Operating Return on Assets (OROA) |
|
3.12% |
2.46% |
2.44% |
2.31% |
2.51% |
3.64% |
5.13% |
2.17% |
2.68% |
2.70% |
Return on Assets (ROA) |
|
1.95% |
1.48% |
1.43% |
2.01% |
1.95% |
2.78% |
3.87% |
1.62% |
2.01% |
2.05% |
Return on Common Equity (ROCE) |
|
9.95% |
8.40% |
9.59% |
15.27% |
16.06% |
26.66% |
44.00% |
21.06% |
27.74% |
26.37% |
Return on Equity Simple (ROE_SIMPLE) |
|
13.08% |
10.67% |
11.68% |
16.40% |
19.86% |
38.10% |
53.98% |
27.16% |
30.91% |
28.16% |
Net Operating Profit after Tax (NOPAT) |
|
274 |
250 |
289 |
487 |
578 |
881 |
1,161 |
469 |
581 |
608 |
NOPAT Margin |
|
30.99% |
26.07% |
25.65% |
35.81% |
34.58% |
48.62% |
57.25% |
25.72% |
32.13% |
32.90% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
17.96% |
19.16% |
18.94% |
18.54% |
16.64% |
15.60% |
12.74% |
14.83% |
18.05% |
18.90% |
Operating Expenses to Revenue |
|
40.22% |
40.23% |
39.87% |
40.92% |
34.34% |
31.15% |
25.65% |
30.67% |
37.89% |
34.72% |
Earnings before Interest and Taxes (EBIT) |
|
439 |
414 |
491 |
559 |
744 |
1,154 |
1,540 |
631 |
778 |
799 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
466 |
443 |
524 |
600 |
792 |
1,222 |
1,598 |
686 |
887 |
846 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.64 |
2.39 |
2.12 |
1.27 |
1.18 |
1.86 |
2.84 |
2.67 |
2.60 |
3.07 |
Price to Tangible Book Value (P/TBV) |
|
1.64 |
2.39 |
2.12 |
1.27 |
1.18 |
1.86 |
2.84 |
2.91 |
2.71 |
3.17 |
Price to Revenue (P/Rev) |
|
2.83 |
4.44 |
3.91 |
2.40 |
2.06 |
2.38 |
2.66 |
2.17 |
2.34 |
3.17 |
Price to Earnings (P/E) |
|
9.84 |
18.59 |
16.12 |
6.92 |
6.12 |
4.94 |
4.67 |
8.58 |
7.52 |
9.93 |
Dividend Yield |
|
0.00% |
0.00% |
0.00% |
0.00% |
1.47% |
1.05% |
1.09% |
2.79% |
2.35% |
1.67% |
Earnings Yield |
|
10.16% |
5.38% |
6.20% |
14.44% |
16.33% |
20.23% |
21.40% |
11.65% |
13.30% |
10.08% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.54 |
1.11 |
1.12 |
0.73 |
0.35 |
0.66 |
0.87 |
0.67 |
0.76 |
0.89 |
Enterprise Value to Revenue (EV/Rev) |
|
1.93 |
5.23 |
5.72 |
3.87 |
1.65 |
2.84 |
3.47 |
2.56 |
2.99 |
4.15 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
3.66 |
11.32 |
12.30 |
8.78 |
3.48 |
4.20 |
4.40 |
6.79 |
6.11 |
9.07 |
Enterprise Value to EBIT (EV/EBIT) |
|
3.89 |
12.11 |
13.11 |
9.42 |
3.71 |
4.45 |
4.57 |
7.39 |
6.96 |
9.61 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
6.22 |
20.05 |
22.30 |
10.81 |
4.77 |
5.83 |
6.06 |
9.94 |
9.32 |
12.61 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
933.73 |
0.00 |
0.00 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
4.74 |
8.46 |
2.94 |
12.45 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.51 |
0.92 |
1.32 |
1.44 |
1.40 |
2.02 |
2.76 |
3.03 |
2.78 |
2.98 |
Long-Term Debt to Equity |
|
0.28 |
0.92 |
1.32 |
1.44 |
1.31 |
2.02 |
2.76 |
3.03 |
2.78 |
2.98 |
Financial Leverage |
|
0.27 |
0.73 |
1.13 |
1.39 |
1.42 |
1.67 |
2.36 |
2.88 |
2.90 |
2.89 |
Leverage Ratio |
|
7.18 |
7.59 |
8.36 |
8.89 |
9.44 |
10.80 |
12.73 |
14.97 |
16.07 |
14.66 |
Compound Leverage Factor |
|
7.18 |
7.59 |
8.36 |
8.89 |
9.44 |
10.80 |
12.73 |
14.97 |
16.07 |
14.66 |
Debt to Total Capital |
|
33.99% |
48.02% |
56.97% |
59.04% |
58.37% |
66.94% |
73.40% |
75.19% |
73.54% |
74.89% |
Short-Term Debt to Total Capital |
|
15.75% |
0.00% |
0.00% |
0.00% |
3.64% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
18.24% |
48.02% |
56.97% |
59.04% |
54.73% |
66.94% |
73.40% |
75.19% |
73.54% |
74.89% |
Preferred Equity to Total Capital |
|
17.79% |
12.51% |
6.96% |
5.51% |
0.00% |
0.00% |
3.11% |
3.61% |
3.53% |
2.92% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
5.03% |
3.24% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
48.22% |
39.47% |
36.08% |
35.45% |
36.60% |
29.82% |
23.50% |
21.20% |
22.93% |
22.20% |
Debt to EBITDA |
|
2.31 |
4.89 |
6.25 |
7.14 |
5.86 |
4.25 |
3.71 |
7.63 |
5.89 |
7.62 |
Net Debt to EBITDA |
|
-2.93 |
0.44 |
3.13 |
2.67 |
-1.36 |
0.47 |
0.87 |
0.67 |
1.05 |
1.85 |
Long-Term Debt to EBITDA |
|
1.24 |
4.89 |
6.25 |
7.14 |
5.49 |
4.25 |
3.71 |
7.63 |
5.89 |
7.62 |
Debt to NOPAT |
|
3.93 |
8.66 |
11.34 |
8.79 |
8.03 |
5.89 |
5.11 |
11.16 |
8.99 |
10.59 |
Net Debt to NOPAT |
|
-4.98 |
0.78 |
5.67 |
3.29 |
-1.86 |
0.66 |
1.19 |
0.99 |
1.60 |
2.57 |
Long-Term Debt to NOPAT |
|
2.11 |
8.66 |
11.34 |
8.79 |
7.53 |
5.89 |
5.11 |
11.16 |
8.99 |
10.59 |
Noncontrolling Interest Sharing Ratio |
|
28.78% |
25.43% |
20.02% |
14.69% |
12.73% |
11.08% |
10.66% |
12.95% |
13.92% |
12.43% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-1,071 |
-1,089 |
-946 |
-1,020 |
-120 |
1,084 |
832 |
1,588 |
435 |
-884 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
-8.33 |
-5.86 |
-3.07 |
-1.95 |
-0.17 |
2.00 |
2.18 |
2.92 |
0.42 |
-0.78 |
Operating Cash Flow to Interest Expense |
|
-0.66 |
-1.07 |
-0.56 |
-0.20 |
-0.02 |
-0.34 |
-0.13 |
0.01 |
-0.14 |
-0.29 |
Operating Cash Flow Less CapEx to Interest Expense |
|
11.37 |
-1.02 |
-0.53 |
-0.11 |
-0.02 |
6.82 |
22.09 |
12.99 |
5.92 |
5.84 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.07 |
0.06 |
0.06 |
0.06 |
Fixed Asset Turnover |
|
11.08 |
11.41 |
12.74 |
13.94 |
13.92 |
12.52 |
13.29 |
12.52 |
13.39 |
14.86 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
3,176 |
4,515 |
5,750 |
7,257 |
7,955 |
7,752 |
8,081 |
6,962 |
7,108 |
8,600 |
Invested Capital Turnover |
|
0.35 |
0.25 |
0.22 |
0.21 |
0.22 |
0.23 |
0.26 |
0.24 |
0.26 |
0.24 |
Increase / (Decrease) in Invested Capital |
|
1,346 |
1,339 |
1,234 |
1,507 |
698 |
-203 |
329 |
-1,119 |
146 |
1,492 |
Enterprise Value (EV) |
|
1,707 |
5,019 |
6,443 |
5,269 |
2,760 |
5,136 |
7,037 |
4,661 |
5,417 |
7,673 |
Market Capitalization |
|
2,507 |
4,258 |
4,404 |
3,267 |
3,438 |
4,305 |
5,400 |
3,948 |
4,238 |
5,856 |
Book Value per Share |
|
$3.59 |
$4.16 |
$4.80 |
$5.91 |
$6.90 |
$6.16 |
$6.48 |
$5.90 |
$7.20 |
$8.99 |
Tangible Book Value per Share |
|
$3.59 |
$4.16 |
$4.80 |
$5.91 |
$6.90 |
$6.16 |
$6.48 |
$5.43 |
$6.90 |
$8.69 |
Total Capital |
|
3,176 |
4,515 |
5,750 |
7,257 |
7,955 |
7,752 |
8,081 |
6,962 |
7,108 |
8,600 |
Total Debt |
|
1,079 |
2,168 |
3,275 |
4,284 |
4,643 |
5,189 |
5,931 |
5,235 |
5,228 |
6,440 |
Total Long-Term Debt |
|
579 |
2,168 |
3,275 |
4,284 |
4,354 |
5,189 |
5,931 |
5,235 |
5,228 |
6,440 |
Net Debt |
|
-1,365 |
195 |
1,639 |
1,602 |
-1,077 |
580 |
1,386 |
462 |
928 |
1,566 |
Capital Expenditures (CapEx) |
|
-1,547 |
-9.52 |
-6.99 |
-45 |
0.00 |
-3,876 |
-8,488 |
-7,046 |
-6,245 |
-6,972 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
1,079 |
2,168 |
3,275 |
4,284 |
4,643 |
5,189 |
5,931 |
5,235 |
5,228 |
6,440 |
Total Depreciation and Amortization (D&A) |
|
27 |
29 |
32 |
41 |
49 |
68 |
57 |
56 |
109 |
47 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.60 |
$0.54 |
$0.63 |
$1.08 |
$1.31 |
$2.27 |
$3.67 |
$0.00 |
$2.44 |
$2.73 |
Adjusted Weighted Average Basic Shares Outstanding |
|
425.57M |
427.88M |
431.22M |
435.05M |
427.29M |
383.71M |
314.99M |
0.00 |
231.41M |
216.22M |
Adjusted Diluted Earnings per Share |
|
$0.59 |
$0.53 |
$0.62 |
$1.07 |
$1.30 |
$2.25 |
$3.61 |
$0.00 |
$2.41 |
$2.68 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
432.23M |
432.92M |
438.55M |
439.68M |
430.67M |
387.20M |
319.91M |
0.00 |
234.06M |
219.93M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
426.32M |
429.10M |
433.55M |
436.80M |
422.62M |
363.67M |
279.39M |
0.00 |
220.35M |
210.42M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
278 |
250 |
289 |
487 |
578 |
901 |
1,161 |
469 |
581 |
608 |
Normalized NOPAT Margin |
|
31.37% |
26.07% |
25.65% |
35.81% |
34.58% |
49.72% |
57.29% |
25.72% |
32.13% |
32.90% |
Pre Tax Income Margin |
|
49.61% |
43.16% |
43.63% |
41.09% |
44.48% |
63.71% |
75.98% |
34.59% |
43.02% |
43.19% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
3.41 |
2.23 |
1.60 |
1.07 |
1.05 |
2.13 |
4.03 |
1.16 |
0.76 |
0.70 |
NOPAT to Interest Expense |
|
2.13 |
1.35 |
0.94 |
0.93 |
0.82 |
1.63 |
3.04 |
0.86 |
0.56 |
0.53 |
EBIT Less CapEx to Interest Expense |
|
15.44 |
2.28 |
1.62 |
1.16 |
1.05 |
9.29 |
26.25 |
14.14 |
6.82 |
6.83 |
NOPAT Less CapEx to Interest Expense |
|
14.16 |
1.40 |
0.96 |
1.02 |
0.82 |
8.78 |
25.25 |
13.85 |
6.63 |
6.66 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
7.14% |
8.47% |
5.44% |
3.21% |
11.75% |
6.37% |
5.62% |
26.01% |
20.46% |
19.31% |
Augmented Payout Ratio |
|
7.14% |
8.47% |
5.44% |
3.21% |
40.66% |
69.75% |
137.52% |
178.07% |
80.70% |
60.07% |
Quarterly Metrics And Ratios for SLM
This table displays calculated financial ratios and metrics derived from SLM's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
25.09% |
-34.48% |
7.51% |
-14.55% |
-12.00% |
29.99% |
31.49% |
-3.15% |
-6.10% |
-11.97% |
3.54% |
EBITDA Growth |
|
11.89% |
-119.66% |
-6.21% |
-21.54% |
-54.46% |
452.88% |
136.01% |
-5.16% |
-189.67% |
-50.99% |
3.71% |
EBIT Growth |
|
13.54% |
-123.55% |
-6.21% |
-21.87% |
-61.22% |
333.37% |
148.62% |
-5.05% |
-246.68% |
-41.33% |
4.03% |
NOPAT Growth |
|
3.20% |
-122.06% |
-7.99% |
-22.51% |
-60.94% |
349.27% |
144.63% |
-4.93% |
-241.98% |
-33.77% |
5.04% |
Net Income Growth |
|
3.20% |
-125.16% |
-7.99% |
-22.51% |
-60.94% |
318.64% |
144.63% |
-4.93% |
-253.76% |
-33.77% |
5.04% |
EPS Growth |
|
20.83% |
-122.88% |
4.44% |
-14.73% |
-62.07% |
370.37% |
170.21% |
0.91% |
-309.09% |
-27.40% |
10.24% |
Operating Cash Flow Growth |
|
-96.03% |
-101.92% |
-85.84% |
-11.19% |
-1,862.17% |
-3,001.83% |
-963.09% |
-114.52% |
-91.11% |
116.72% |
-90.39% |
Free Cash Flow Firm Growth |
|
136.77% |
4,795.51% |
531.56% |
-30.83% |
80.78% |
-97.89% |
44.43% |
-193.90% |
-509.41% |
-6,312.99% |
-313.40% |
Invested Capital Growth |
|
-0.61% |
-13.84% |
-3.37% |
-2.45% |
-2.53% |
2.10% |
-3.41% |
9.49% |
11.70% |
20.99% |
20.56% |
Revenue Q/Q Growth |
|
-25.19% |
-26.65% |
25.23% |
24.35% |
-22.96% |
8.35% |
26.68% |
-8.41% |
-25.30% |
1.58% |
48.99% |
EBITDA Q/Q Growth |
|
-74.82% |
-170.38% |
302.98% |
118.13% |
-85.38% |
445.31% |
35.75% |
-12.34% |
-113.82% |
398.01% |
187.28% |
EBIT Q/Q Growth |
|
-77.05% |
-192.18% |
261.45% |
128.77% |
-88.61% |
454.80% |
72.00% |
-12.63% |
-117.59% |
321.90% |
205.01% |
NOPAT Q/Q Growth |
|
-78.02% |
-189.89% |
275.39% |
123.65% |
-88.92% |
473.62% |
72.12% |
-13.09% |
-116.55% |
367.56% |
173.00% |
Net Income Q/Q Growth |
|
-78.02% |
-202.49% |
253.83% |
123.65% |
-88.92% |
473.62% |
72.12% |
-13.09% |
-117.92% |
347.06% |
173.00% |
EPS Q/Q Growth |
|
-77.52% |
-193.10% |
274.07% |
134.04% |
-90.00% |
563.64% |
73.97% |
-12.60% |
-120.72% |
330.43% |
164.15% |
Operating Cash Flow Q/Q Growth |
|
105.59% |
-125.98% |
1,115.77% |
-854.21% |
11.46% |
54.27% |
-182.64% |
-87.46% |
21.13% |
104.00% |
-3,317.69% |
Free Cash Flow Firm Q/Q Growth |
|
-80.99% |
767.02% |
-64.40% |
17.90% |
-50.32% |
-89.86% |
2,332.18% |
-176.65% |
-116.62% |
-53.85% |
16.46% |
Invested Capital Q/Q Growth |
|
4.29% |
-7.23% |
5.44% |
-4.37% |
4.20% |
-2.82% |
-0.25% |
8.40% |
6.30% |
5.26% |
-0.60% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
25.51% |
-24.47% |
39.67% |
69.59% |
13.20% |
66.44% |
71.20% |
68.14% |
-12.61% |
36.99% |
71.32% |
EBIT Margin |
|
22.54% |
-28.33% |
36.52% |
67.19% |
9.93% |
50.85% |
69.05% |
65.87% |
-15.51% |
33.89% |
69.38% |
Profit (Net Income) Margin |
|
16.18% |
-22.61% |
27.77% |
49.95% |
7.18% |
38.02% |
51.67% |
49.03% |
-11.76% |
28.61% |
52.42% |
Tax Burden Percent |
|
71.78% |
79.81% |
76.04% |
74.34% |
72.32% |
74.77% |
74.82% |
74.43% |
75.81% |
84.40% |
75.55% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
28.22% |
0.00% |
23.96% |
25.66% |
27.68% |
25.23% |
25.18% |
25.57% |
0.00% |
15.60% |
24.45% |
Return on Invested Capital (ROIC) |
|
4.30% |
-4.81% |
6.89% |
12.39% |
1.65% |
9.78% |
13.92% |
12.85% |
-2.67% |
6.73% |
12.53% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
4.30% |
-4.98% |
6.89% |
12.39% |
1.65% |
9.78% |
13.92% |
12.85% |
-2.73% |
6.73% |
12.53% |
Return on Net Nonoperating Assets (RNNOA) |
|
11.45% |
-14.33% |
19.70% |
34.16% |
4.83% |
28.36% |
37.05% |
33.36% |
-8.01% |
19.45% |
30.87% |
Return on Equity (ROE) |
|
15.75% |
-19.14% |
26.59% |
46.55% |
6.48% |
38.14% |
50.97% |
46.20% |
-10.68% |
26.18% |
43.40% |
Cash Return on Invested Capital (CROIC) |
|
11.93% |
21.11% |
9.56% |
7.85% |
7.09% |
6.19% |
13.90% |
1.00% |
-2.46% |
-11.25% |
-10.68% |
Operating Return on Assets (OROA) |
|
1.56% |
-1.78% |
2.31% |
4.29% |
0.58% |
3.17% |
4.65% |
4.49% |
-1.00% |
2.12% |
4.54% |
Return on Assets (ROA) |
|
1.12% |
-1.42% |
1.76% |
3.19% |
0.42% |
2.37% |
3.48% |
3.35% |
-0.75% |
1.79% |
3.43% |
Return on Common Equity (ROCE) |
|
13.83% |
-16.66% |
23.14% |
40.37% |
5.62% |
32.83% |
44.47% |
40.53% |
-10.00% |
22.93% |
38.57% |
Return on Equity Simple (ROE_SIMPLE) |
|
49.23% |
0.00% |
25.11% |
24.54% |
18.67% |
0.00% |
35.61% |
36.40% |
31.18% |
0.00% |
25.95% |
Net Operating Profit after Tax (NOPAT) |
|
75 |
-68 |
119 |
265 |
29 |
168 |
290 |
252 |
-42 |
112 |
305 |
NOPAT Margin |
|
16.18% |
-19.83% |
27.77% |
49.95% |
7.18% |
38.02% |
51.67% |
49.03% |
-10.86% |
28.61% |
52.42% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.17% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.06% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
13.99% |
19.77% |
20.54% |
14.74% |
20.44% |
17.40% |
17.19% |
16.59% |
22.81% |
20.54% |
15.63% |
Operating Expenses to Revenue |
|
32.78% |
41.10% |
36.74% |
29.47% |
41.64% |
45.62% |
28.81% |
30.86% |
44.81% |
38.37% |
26.61% |
Earnings before Interest and Taxes (EBIT) |
|
105 |
-97 |
156 |
357 |
41 |
225 |
387 |
339 |
-60 |
132 |
403 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
119 |
-83 |
169 |
369 |
54 |
294 |
400 |
350 |
-48 |
144 |
414 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.94 |
2.67 |
1.83 |
2.48 |
1.94 |
2.60 |
2.63 |
2.25 |
2.33 |
3.07 |
2.87 |
Price to Tangible Book Value (P/TBV) |
|
2.08 |
2.91 |
1.98 |
2.67 |
2.12 |
2.71 |
2.73 |
2.33 |
2.40 |
3.17 |
2.96 |
Price to Revenue (P/Rev) |
|
1.68 |
2.17 |
1.56 |
2.19 |
1.76 |
2.34 |
2.52 |
2.38 |
2.61 |
3.17 |
3.31 |
Price to Earnings (P/E) |
|
3.97 |
8.58 |
6.47 |
10.49 |
9.42 |
7.52 |
6.68 |
6.35 |
7.69 |
9.93 |
10.21 |
Dividend Yield |
|
3.30% |
2.79% |
3.67% |
2.77% |
3.31% |
2.35% |
2.03% |
2.12% |
1.92% |
1.67% |
1.63% |
Earnings Yield |
|
25.20% |
11.65% |
15.45% |
9.53% |
10.62% |
13.30% |
14.98% |
15.75% |
13.00% |
10.08% |
9.79% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.55 |
0.67 |
0.65 |
0.75 |
0.69 |
0.76 |
0.90 |
0.63 |
0.78 |
0.89 |
1.04 |
Enterprise Value to Revenue (EV/Rev) |
|
2.05 |
2.56 |
2.57 |
3.00 |
2.96 |
2.99 |
3.29 |
2.51 |
3.34 |
4.15 |
4.75 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
3.44 |
6.79 |
7.05 |
9.22 |
9.92 |
6.11 |
5.73 |
4.40 |
6.38 |
9.07 |
10.32 |
Enterprise Value to EBIT (EV/EBIT) |
|
3.61 |
7.39 |
7.67 |
10.17 |
11.07 |
6.96 |
6.34 |
4.87 |
7.12 |
9.61 |
10.91 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
4.82 |
9.94 |
10.37 |
13.86 |
15.04 |
9.32 |
8.50 |
6.53 |
9.54 |
12.61 |
14.26 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
79.74 |
933.73 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
4.57 |
2.94 |
6.66 |
9.49 |
9.61 |
12.45 |
6.38 |
65.66 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
2.79 |
3.03 |
3.02 |
2.89 |
3.07 |
2.78 |
2.35 |
2.37 |
2.83 |
2.98 |
2.56 |
Long-Term Debt to Equity |
|
2.79 |
3.03 |
3.02 |
2.89 |
3.07 |
2.78 |
2.35 |
2.37 |
2.83 |
2.98 |
2.56 |
Financial Leverage |
|
2.66 |
2.88 |
2.86 |
2.76 |
2.92 |
2.90 |
2.66 |
2.60 |
2.94 |
2.89 |
2.46 |
Leverage Ratio |
|
14.08 |
14.97 |
15.11 |
14.59 |
15.45 |
16.07 |
14.65 |
13.81 |
15.07 |
14.66 |
12.66 |
Compound Leverage Factor |
|
14.08 |
14.97 |
15.11 |
14.59 |
15.45 |
16.07 |
14.65 |
13.81 |
15.07 |
14.66 |
12.66 |
Debt to Total Capital |
|
73.59% |
75.19% |
75.11% |
74.27% |
75.40% |
73.54% |
70.19% |
70.29% |
73.88% |
74.89% |
71.91% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
73.59% |
75.19% |
75.11% |
74.27% |
75.40% |
73.54% |
70.19% |
70.29% |
73.88% |
74.89% |
71.91% |
Preferred Equity to Total Capital |
|
0.00% |
3.61% |
3.42% |
0.00% |
3.43% |
3.53% |
3.54% |
0.00% |
0.00% |
2.92% |
2.94% |
Noncontrolling Interests to Total Capital |
|
3.35% |
0.00% |
0.00% |
3.58% |
0.00% |
0.00% |
0.00% |
3.27% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
23.07% |
21.20% |
21.47% |
22.16% |
21.16% |
22.93% |
26.27% |
26.44% |
26.12% |
22.20% |
25.15% |
Debt to EBITDA |
|
4.63 |
7.63 |
8.17 |
9.09 |
10.83 |
5.89 |
4.46 |
4.92 |
6.06 |
7.62 |
7.14 |
Net Debt to EBITDA |
|
0.42 |
0.67 |
2.39 |
2.07 |
3.52 |
1.05 |
1.11 |
0.00 |
1.38 |
1.85 |
2.85 |
Long-Term Debt to EBITDA |
|
4.63 |
7.63 |
8.17 |
9.09 |
10.83 |
5.89 |
4.46 |
4.92 |
6.06 |
7.62 |
7.14 |
Debt to NOPAT |
|
6.48 |
11.16 |
12.02 |
13.66 |
16.42 |
8.99 |
6.61 |
7.30 |
9.07 |
10.59 |
9.87 |
Net Debt to NOPAT |
|
0.58 |
0.99 |
3.52 |
3.11 |
5.34 |
1.60 |
1.65 |
0.00 |
2.07 |
2.57 |
3.94 |
Long-Term Debt to NOPAT |
|
6.48 |
11.16 |
12.02 |
13.66 |
16.42 |
8.99 |
6.61 |
7.30 |
9.07 |
10.59 |
9.87 |
Noncontrolling Interest Sharing Ratio |
|
12.21% |
12.95% |
12.97% |
13.27% |
13.28% |
13.92% |
12.74% |
12.28% |
6.38% |
12.43% |
11.12% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
121 |
1,051 |
374 |
441 |
219 |
22 |
540 |
-414 |
-897 |
-1,380 |
-1,153 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
0.81 |
5.20 |
1.61 |
1.78 |
0.82 |
0.08 |
1.95 |
-1.54 |
-3.06 |
-4.61 |
-4.10 |
Operating Cash Flow to Interest Expense |
|
0.02 |
0.00 |
0.04 |
-0.27 |
-0.22 |
-0.10 |
-0.28 |
-0.53 |
-0.39 |
0.02 |
-0.52 |
Operating Cash Flow Less CapEx to Interest Expense |
|
13.02 |
3.71 |
3.96 |
11.25 |
2.52 |
6.09 |
10.21 |
7.79 |
1.80 |
3.99 |
10.09 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.07 |
0.06 |
0.06 |
0.06 |
0.06 |
0.06 |
0.07 |
0.07 |
0.06 |
0.06 |
0.07 |
Fixed Asset Turnover |
|
13.47 |
12.52 |
12.96 |
12.52 |
12.34 |
13.39 |
14.65 |
14.75 |
14.88 |
14.86 |
15.27 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
7,505 |
6,962 |
7,341 |
7,020 |
7,315 |
7,108 |
7,091 |
7,686 |
8,170 |
8,600 |
8,548 |
Invested Capital Turnover |
|
0.27 |
0.24 |
0.25 |
0.25 |
0.23 |
0.26 |
0.27 |
0.26 |
0.25 |
0.24 |
0.24 |
Increase / (Decrease) in Invested Capital |
|
-46 |
-1,119 |
-256 |
-176 |
-190 |
146 |
-250 |
666 |
856 |
1,492 |
1,458 |
Enterprise Value (EV) |
|
4,104 |
4,661 |
4,759 |
5,292 |
5,052 |
5,417 |
6,401 |
4,829 |
6,349 |
7,673 |
8,884 |
Market Capitalization |
|
3,355 |
3,948 |
2,892 |
3,853 |
3,009 |
4,238 |
4,905 |
4,580 |
4,973 |
5,856 |
6,180 |
Book Value per Share |
|
$6.89 |
$5.90 |
$6.53 |
$6.42 |
$6.85 |
$7.20 |
$8.45 |
$9.23 |
$9.81 |
$8.99 |
$10.22 |
Tangible Book Value per Share |
|
$6.41 |
$5.43 |
$6.05 |
$5.95 |
$6.28 |
$6.90 |
$8.14 |
$8.93 |
$9.51 |
$8.69 |
$9.92 |
Total Capital |
|
7,505 |
6,962 |
7,341 |
7,020 |
7,315 |
7,108 |
7,091 |
7,686 |
8,170 |
8,600 |
8,548 |
Total Debt |
|
5,522 |
5,235 |
5,514 |
5,214 |
5,516 |
5,228 |
4,977 |
5,403 |
6,037 |
6,440 |
6,147 |
Total Long-Term Debt |
|
5,522 |
5,235 |
5,514 |
5,214 |
5,516 |
5,228 |
4,977 |
5,403 |
6,037 |
6,440 |
6,147 |
Net Debt |
|
498 |
462 |
1,616 |
1,187 |
1,792 |
928 |
1,245 |
-1.67 |
1,376 |
1,566 |
2,452 |
Capital Expenditures (CapEx) |
|
-1,954 |
-752 |
-913 |
-2,850 |
-733 |
-1,749 |
-2,901 |
-2,242 |
-641 |
-1,189 |
-2,983 |
Net Nonoperating Expense (NNE) |
|
0.00 |
9.47 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
3.46 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
5,522 |
5,235 |
5,514 |
5,214 |
5,516 |
5,228 |
4,977 |
5,403 |
6,037 |
6,440 |
6,147 |
Total Depreciation and Amortization (D&A) |
|
14 |
13 |
13 |
13 |
13 |
69 |
12 |
12 |
11 |
12 |
11 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.29 |
($0.27) |
$0.47 |
$1.11 |
$0.11 |
$0.75 |
$1.29 |
$1.13 |
($0.23) |
$0.54 |
$1.43 |
Adjusted Weighted Average Basic Shares Outstanding |
|
251.27M |
258.44M |
241.50M |
235.06M |
226.12M |
231.41M |
220.42M |
218.92M |
214.87M |
216.22M |
210.68M |
Adjusted Diluted Earnings per Share |
|
$0.29 |
($0.27) |
$0.47 |
$1.10 |
$0.11 |
$0.73 |
$1.27 |
$1.11 |
($0.23) |
$0.53 |
$1.40 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
253.72M |
261.50M |
243.55M |
237.59M |
228.80M |
234.06M |
223.85M |
222.47M |
214.87M |
219.93M |
214.99M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
250.20M |
241.19M |
242.25M |
226.08M |
226.27M |
220.35M |
220.28M |
217.46M |
212.33M |
210.42M |
210.74M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
75 |
-68 |
119 |
265 |
29 |
168 |
290 |
252 |
-42 |
112 |
305 |
Normalized NOPAT Margin |
|
16.18% |
-19.83% |
27.77% |
49.95% |
7.18% |
38.02% |
51.67% |
49.03% |
-10.86% |
28.61% |
52.42% |
Pre Tax Income Margin |
|
22.54% |
-28.33% |
36.52% |
67.19% |
9.93% |
50.85% |
69.05% |
65.87% |
-15.51% |
33.89% |
69.38% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
0.70 |
-0.48 |
0.67 |
1.44 |
0.15 |
0.80 |
1.40 |
1.26 |
-0.20 |
0.44 |
1.43 |
NOPAT to Interest Expense |
|
0.50 |
-0.33 |
0.51 |
1.07 |
0.11 |
0.60 |
1.05 |
0.94 |
-0.14 |
0.37 |
1.08 |
EBIT Less CapEx to Interest Expense |
|
13.69 |
3.24 |
4.60 |
12.97 |
2.89 |
6.99 |
11.89 |
9.58 |
1.98 |
4.42 |
12.05 |
NOPAT Less CapEx to Interest Expense |
|
13.49 |
3.38 |
4.43 |
12.60 |
2.85 |
6.78 |
11.54 |
9.26 |
2.04 |
4.35 |
11.69 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
14.59% |
26.01% |
26.36% |
31.61% |
35.73% |
20.46% |
15.56% |
15.72% |
17.27% |
19.31% |
19.26% |
Augmented Payout Ratio |
|
109.57% |
178.07% |
145.80% |
143.48% |
159.84% |
80.70% |
64.94% |
39.70% |
61.14% |
60.07% |
59.74% |
Key Financial Trends
SLM Corp (NASDAQ:SLMBP) demonstrates a recovery and strengthening financial performance in Q1 2025 compared to prior quarters based on analysis of its recent income statements, cash flow statements, and balance sheets spanning back to 2022.
Positive Trends:
- Consolidated net income for Q1 2025 was $304.54 million, a significant improvement compared to $111.55 million in Q4 2024 and negative results in mid-2024, showing recovery in profitability.
- Net interest income remained robust at approximately $375 million in Q1 2025, slightly up from $362 million in Q4 2024, reflecting effective interest earnings management.
- Total revenue increased to $581 million in Q1 2025 from $390 million in Q4 2024, led by sharply higher net realized and unrealized capital gains on investments ($177 million vs. $73,000), boosting other income.
- Provision for credit losses dropped substantially in Q1 2025 to $23 million versus $108 million in Q4 2024, indicating improving credit quality or risk management.
- Total non-interest expense remained relatively stable at $155 million in Q1 2025 compared to $150 million in Q4 2024, reflecting controlled operating costs amid rising revenues.
- Total assets remained healthy at around $28.9 billion in Q1 2025, with strong loan portfolio balance of about $21.1 billion, contributing to stable interest income.
- Cash and equivalents increased significantly Q1 2025 to $3.7 billion versus $3.6 billion in Q1 2024, supporting liquidity.
Neutral Observations:
- Short-term borrowings interest expense and long-term debt interest expense remained fairly consistent, reflecting steady debt financing costs.
- Cash dividend per common share held steady at $0.13 in Q1 2025, consistent with prior quarters, signaling commitment to shareholder returns but no recent increases.
- Weighted average diluted shares outstanding remained fairly stable around 215 million shares, indicating limited recent share dilution.
Negative Factors:
- Net cash from continuing operating activities was negative in Q1 2025 at approximately -$145 million, impacted by sharp changes in operating assets and liabilities, which may raise liquidity concerns if trend continues.
- Net cash used in financing activities was substantial at about -$1.36 billion in Q1 2025, driven by a large net decrease in deposits and debt repayments, potentially indicating funding pressures or capital management changes.
- Despite improvement, Q4 2024 and much of 2023 showed elevated provisions for credit losses and some quarters with negative net income, highlighting past credit challenges that may still linger.
- Accumulated other comprehensive income/loss and treasury stock values indicate some equity pressure; negative comprehensive income and continued repurchases likely weigh on equity base.
Summary: Over the past year, SLM has shown marked improvement in profitability and revenue, particularly in Q1 2025, driven by better credit provisions and capital gains. However, cash flow from operations remains a concern, and significant financing outflows suggest ongoing balance sheet management challenges. Investors should weigh the improved earnings and capital gains against the cash flow dynamics and historical credit provisioning when considering SLM's stock.
08/07/25 01:10 AMAI Generated. May Contain Errors.