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SLM Corporation

SLM Financial Credit Services

SLM Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 4.10% from fiscal 2024. In the quarter to June 2026, revenue fell 1.93%, EPS fell 9.38%, free cash flow grew 2.81% and total debt fell 8.84%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for three.

21.81 0.41 −1.85%
Market cap
$4.2B
P/E
6.0×
Fwd P/E
7.1×
Dividend yield
2.38%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 2.48%

Capital & Financial Ratios $m

Market Cap 4,180.00
Revenue 3,068.38
Net Income 735.51
Free Cash Flow (324.59)
Net Debt 993.19
Current Ratio 1.33
Debt/Equity 2.36
P/E ratio 6.01
Fwd P/E 7.11
P/S ratio 1.34
P/B ratio 1.85
Past 5Y EPS Growth 8.99%
This Y EPS Growth (9.83%) (below 0%: weak)
Next Y EPS Growth 8.18%
Next Y revenue growth (54.08%) (below 0%: weak)
Next 5Y EPS Growth 3.29%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 18.87%
10-year low 10-year high
P/S against its own 10 years 9.62%
10-year low 10-year high
P/B against its own 10 years 22.30%
10-year low 10-year high

Dividends

Payout Ratio 0.15
Annual Dividend Rate 0.52
Annual Dividend Yield 2.38%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.53
0.13
0.13
0.13
2025 0.52
0.13
0.13
0.13
0.13
2024 0.46
0.11
0.11
0.11
0.13
2023 0.44
0.11
0.11
0.11
0.11
2022 0.44
0.11
0.11
0.11
0.11
2021 0.20
0.03
0.03
0.03
0.11
2020 0.12
0.03
0.03
0.03
0.03
2019 0.12
0.03
0.03
0.03
0.03
2018 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4,354 4,928 4,468 4,851
Receivables — — — —
Inventory — — — —
Other — — — —
26,407 27,802 27,643 26,530
2023 2024 2025 Q'26
Payables 21,653 21,069 21,060 19,895
ST’ Debt — — — —
Other — — — —
21,653 21,069 21,559 19,895

Compound Annual Growth %

10y 5y 3y
Sales 11.86% 5.73% 9.54%
Cash Flow 0.00% 0.00% 0.00%
Earnings 11.09% (3.49%) 16.60%
Book Value 1.58% (0.89%) 12.38%

Revenue $m

Mar Jun Sep Dec Year
’26 834 670 — — —
’25 862 684 830 734 3,110
’24 838 783 677 689 2,987
’23 659 778 676 726 2,839
’22 487 721 615 543 2,366
’21 850 487 461 611 2,409
’20 867 514 492 480 2,353
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (76) (135) — — —
’25 (146) (139) (49) (64) (399)
’24 (77) (144) (113) 5 (329)
’23 9 (67) (59) (27) (145)
’22 63 (60) 3 (1) 5
’21 46 (226) 85 46 (50)
’20 144 (207) (147) 26 (183)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (76) (135) — — —
’25 (146) (139) (49) (64) (399)
’24 (77) (144) (113) 5 (329)
’23 9 (67) (59) (27) (145)
’22 63 (60) 3 (1) 5
’21 46 (226) 85 46 (50)
’20 144 (207) (147) 26 (183)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.54 0.29 — — —
’25 1.40 0.32 0.63 1.12 3.46
’24 1.27 1.11 (0.23) 0.50 2.68
’23 0.47 1.10 0.11 0.72 2.41
’22 0.45 1.29 0.29 (0.33) 1.76
’21 1.75 0.44 0.24 1.04 3.61
’20 0.87 (0.23) 0.45 1.13 2.25
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 5.09 9.65 7.95 7.76 5.60 12.03 13.72 10.81 18.04 23.81

Analyst estimates 2026–2028

Powerpack
High 11.65 13.20 12.46 11.53 12.55 21.40 20.88 19.36 28.24 34.97
People
People Employees 1,300 1,500 1,700 1,900 1,600 1,450 1,700 1,740 1,710 1,788
Revenue/emp, $m 0.88 0.96 1.11 1.25 1.47 1.66 1.39 1.63 1.75 1.74
Income, $m
Income, $m Revenue 1,146 1,434 1,883 2,380 2,353 2,409 2,366 2,839 2,987 3,110
Gross margin, % 83.78 78.52 72.27 70.26 76.98 84.14 77.06 63.72 61.90 63.81
EBT 414 491 559 744 1,154 1,540 631 778 799 993
EBT margin, % 36.16 34.26 29.70 31.25 49.04 63.93 26.66 27.41 26.73 31.92
Net income 250 289 487 578 881 1,161 469 581 608 745
Depreciation 29 32 41 49 68 57 56 109 47 45
Per share, $
Per share, $ Revenue 2.68 3.33 4.33 5.57 6.13 7.65 9.16 12.27 13.82 15.01
Earnings 0.54 0.63 1.08 1.31 2.27 3.67 1.78 2.44 2.73 3.52
Cash flow (0.47) (0.40) (0.24) (0.04) (0.48) (0.16) 0.02 (0.62) (1.52) (1.92)
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow (0.47) (0.40) (0.24) (0.04) (0.48) (0.16) 0.02 (0.62) (1.52) (1.92)
Book value 5.49 5.74 6.83 7.75 6.68 6.82 6.68 8.13 9.99 11.83
Shares, m 428 431 435 427 384 315 258 231 216 207
Valuation, ×
Valuation, × P/E 21.42 18.00 7.69 6.80 5.51 5.59 9.61 7.95 10.21 7.67
P/S 4.24 3.41 1.92 1.60 2.02 2.57 1.81 1.57 2.00 1.80
P/B 2.73 2.36 1.41 1.31 2.06 3.26 2.89 2.73 3.12 2.55
EV/Sales 4.41 4.55 2.77 1.03 2.26 3.13 1.98 1.87 2.50 2.09
EV/FCF (25.38) (38.15) (50.79) (156.03) (29.11) (152.34) 937.17 (36.81) (22.70) (16.31)
Cash, $m
Cash, $m Operating cash flow (199) (171) (103) (16) (183) (50) 5 (145) (329) (399)
Capex — — — — — — — — — —
Free cash flow (199) (171) (103) (16) (183) (50) 5 (145) (329) (399)
Balance, $m
Balance, $m Working capital 4,700 5,834 7,282 7,324 5,810 5,549 4,622 4,753 6,733 6,085
Total debt 2,168 3,275 4,284 4,354 5,189 5,931 5,235 5,228 6,440 5,362
Net debt 195 1,639 1,602 (1,367) 563 1,348 406 874 1,513 895
Shareholders’ equity 2,347 2,474 2,973 3,312 2,563 2,150 1,727 1,881 2,160 2,451
Returns, %
Returns, % ROA 1.36 1.36 1.95 1.89 2.75 3.85 1.59 1.94 1.99 2.44
ROIC 10.19 7.47 7.64 23.90 23.60 27.54 18.71 19.17 13.68 18.61
ROE 13.83 14.17 20.31 20.47 33.35 54.90 27.26 36.30 33.35 35.49
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

SLM Corporation vs peers in Credit Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
OMF OneMain Holdings, Inc. $6.4B 8.4× 7.6× +7.19% (above 0%: growing) −5.71% (below 0%: shrinking) +3.36% (above 0%: growing) 79.93% 0.00% Compare
CACC Credit Acceptance Corporation $5.7B 11.7× 10.5× +0.62% (above 0%: growing) +71.79% (above 0%: growing) +120.88% (above 0%: growing) 100.00% 50.07% Compare
KLAR Klarna Group plc $5.1B — (loss-making) 8.2× +26.61% (above 0%: growing) n/m −129.24% (below 0%: shrinking) 61.23% 2.59% Compare
NNI Nelnet, Inc. $4.6B 15.3× 15.0× −22.95% (below 0%: shrinking) −62.78% (below 0%: shrinking) −52.33% (below 0%: shrinking) 79.01% 0.00% Compare
SEZL Sezzle Inc. $4.5B 27.0× 22.8× +51.65% (above 0%: growing) +47.56% (above 0%: growing) +131.47% (above 0%: growing) 82.87% 36.72% Compare
ENVA Enova International, Inc. $4.4B 12.4× 11.3× +21.58% (above 0%: growing) +40.20% (above 0%: growing) +21.85% (above 0%: growing) 61.15% 25.53% Compare
SLM SLM Corporation $4.2B 6.0× 7.1× −1.93% (below 0%: shrinking) −9.38% (below 0%: shrinking) +2.81% (above 0%: growing) 59.84% 0.00%
BFH Bread Financial Holdings, Inc. $3.9B 7.9× 8.2× +3.39% (above 0%: growing) +21.89% (above 0%: growing) +1.93% (above 0%: growing) 100.00% 76.43% Compare
UPST Upstart Holdings, Inc. $2.4B 38.0× 32.5× +41.75% (above 0%: growing) +183.33% (above 0%: growing) −14.74% (below 0%: shrinking) 83.19% 4.01% Compare
Median of peers $4.5B 12.4× 10.9× +14.39% +40.20% +2.65% 81.40% 14.77%

All 55 Credit Services stocks →

SLM Corporation (SLM) key facts

  • Strength: SLM Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 4.10% from fiscal 2024.
  • SLM Corporation (SLM) is a Credit Services company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, SLM traded at $21.81, a market capitalization of $4.2 billion.
  • SLM Corporation pays an annual dividend of $0.52 per share, a yield of 2.38%, with a payout ratio of 14.5%.
  • Return on equity was 35.5% and debt-to-equity 2.36.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

SLM Corporation (SLM) Latest News

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stockrow.com/SLM · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com