SLM Corp SLM

Financials SIC 6141 - Personal Credit Institutions NAICS Finance and Insurance › Credit Intermediation and Related Activities › Nondepository Credit Intermediation › Other Nondepository Credit Intermediation › Consumer Lending derived Nasdaq

SLM Corporation, more commonly known as Sallie Mae, is the premier financial brand in higher education. As an education solutions company, we provide students and their families with the products and services needed to confidently and successfully navigate their higher education journey. We support students and families navigating to, through, and immediately after higher education. We simplify the college planning process and advance higher education access and completion by providing free tools, resources, scholarships, and responsible financing options.

We believe education, in all forms, is the foundation for success, an equalizer of opportunities, and a proven pathway to economic mobility. Higher education increases lifetime wages and enables economic mobility. For example, data from the U.S. Bureau of Labor and Statistics confirms those with bachelor's degrees earn 66 percent more than those with a high school diploma.1 Those with advanced degrees earn an even greater percentage than those with a high school diploma.1 This effect is multigenerational, as children of parents who are college educated are more likely to earn a bachelor's degree than students whose parents did not go to college. Most would agree our society prospers and becomes more economically inclusive when each of its members is provided access to post-secondary education.2 Education represents a transformative investment in one's future that yields our country's next nurses, teachers, engineers, business leaders, and more.

Last close 19.41 2026-10-23
Market cap $3.65B 2026-06-30 share count
52-week range 17.77 - 31.06

Valuation FY2025 figures against the last close

P/S1.4x
P/E5.6x
P/FCF—
EV/EBITDA—
Dividend yield3.0%
Diluted EPS3.46

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.63B$2.62B$2.59B$2.03B$1.78B$2.02B$2.33B$1.94B$1.44B$1.08B
Total operating expenses ————$518.7M$538.1M$574.3M$557.0M$448.6M$385.4M
Interest expense $1.50B$1.48B$1.56B$1.49B$382.1M$541.7M$707.7M$522.3M$308.1M$185.9M
Pre-tax income $992.6M$798.6M$778.3M$630.7M$1.54B$1.15B$743.7M$559.3M$491.5M$414.4M
Income tax $247.7M$190.3M$196.9M$161.7M$379.8M$273.3M$165.5M$71.9M$202.5M$164.1M
Net income $744.8M$608.3M$581.4M$469.0M$1.16B$880.7M$578.3M$487.5M$288.9M$250.3M
EPS, basic 3.522.732.441.783.672.271.311.080.630.54
EPS, diluted 3.462.682.411.763.612.251.301.070.620.53
Shares, diluted (wtd. avg.) 210.9M219.9M234.1M261.5M319.9M387.2M430.7M439.7M438.6M432.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $4.24B$4.70B$4.15B$4.77B$4.55B$4.61B$5.72B$2.68B$1.64B$1.97B
Property, plant and equipment $122.2M$119.4M$129.5M$140.7M$150.5M$154.7M$134.7M$105.5M$89.7M$87.1M
Goodwill $56.0M$56.0M$56.0M$51.0M——————
Other intangibles $3.9M$7.4M$12.6M$67.6M——————
Total assets $29.75B$30.07B$29.17B$28.81B$29.22B$30.77B$32.69B$26.64B$21.78B$18.53B
Short-term debt $498.4M$0$0$0$0$0$289.2M$0$0$0
Long-term debt $5.36B$6.44B$5.23B$5.24B$5.93B$5.19B$4.35B$4.28B$3.28B$2.17B
Total liabilities $27.29B$27.91B$27.29B$27.08B$27.07B$28.21B$29.37B$23.67B$19.31B$16.19B
Retained earnings $4.73B$4.11B$3.62B$3.16B$2.82B$1.72B$1.85B$1.34B$868.2M$595.3M
Total equity $2.45B$2.16B$1.88B$1.73B$2.15B$2.56B$3.31B$2.97B$2.47B$2.35B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$398.6M-$329.4M-$144.6M$5.0M-$49.5M-$182.7M-$15.6M-$102.7M-$171.2M-$199.0M
Depreciation and amortisation $16.2M$17.7M$17.8M$17.3M$16.0M$15.1M$14.7M$13.8M$11.2M$9.6M
Stock-based compensation $40.6M$40.0M$36.4M$34.5M$30.6M$36.5M$30.6M$31.5M$27.9M$22.9M
Investing cash flow $1.05B$676.0M-$12.5M$1.08B$2.60B$947.3M-$2.31B-$3.25B-$3.16B-$3.31B
Financing cash flow -$1.10B$228.2M-$316.2M-$854.9M-$2.62B-$1.88B$5.36B$4.40B$2.99B$3.04B
Dividends paid $107.7M$99.2M$101.2M$113.0M$60.5M$46.4M$51.1M$0$0$21.2M
Buybacks $368.7M$248.0M$350.3M$713.2M$1.53B$558.2M$167.2M$0$0—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-182200.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 1B 2B 3B Revenue, FY2016: 1.1B Net income, FY2016: 250.3M Revenue, FY2017: 1.4B Net income, FY2017: 288.9M Revenue, FY2018: 1.9B Net income, FY2018: 487.5M Revenue, FY2019: 2.3B Net income, FY2019: 578.3M Revenue, FY2020: 2B Net income, FY2020: 880.7M Revenue, FY2021: 1.8B Net income, FY2021: 1.2B Revenue, FY2022: 2B Net income, FY2022: 469M Revenue, FY2023: 2.6B Net income, FY2023: 581.4M Revenue, FY2024: 2.6B Net income, FY2024: 608.3M Revenue, FY2025: 2.6B Net income, FY2025: 744.8M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.08B $1.44B $1.94B $2.33B $2.02B $1.78B $2.03B $2.59B $2.62B $2.63B
Gross profit — — — — — — — — — —
Net income $250.3M $288.9M $487.5M $578.3M $880.7M $1.16B $469.0M $581.4M $608.3M $744.8M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed Item 1.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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