Latest Ratios: P/E Ratio -11.3x · EV/EBITDA 17.8x · ROE -3.2%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $861M | $1.3B | $1.5B | $2.3B | $2.4B | $3.6B | $1.9B | $3.2B | $2.3B | $3.7B | $5.3B |
| Enterprise Value | $44.5B | $44.9B | $49.4B | $59.4B | $68.2B | $79.5B | $84.1B | $92.2B | $100.3B | $112.0B | $119.5B |
| P/E Ratio → | -11.31 | — | 11.26 | 10.06 | 3.67 | 5.09 | 4.65 | 5.34 | 5.87 | 12.81 | 7.75 |
| P/S Ratio | 1.33 | 1.99 | 1.54 | 1.79 | 1.36 | 1.65 | 1.13 | 1.60 | 1.21 | 1.69 | 2.10 |
| P/B Ratio | 0.38 | 0.54 | 0.56 | 0.83 | 0.80 | 1.40 | 0.78 | 0.95 | 0.66 | 1.07 | 1.42 |
| P/FCF | 1.95 | 2.92 | 3.21 | 3.39 | 7.77 | 5.20 | 1.94 | 3.13 | 2.04 | 0.44 | 3.90 |
| P/OCF | 1.95 | 2.92 | 3.21 | 3.39 | 7.77 | 5.20 | 1.94 | 3.13 | 2.04 | 3.24 | 3.90 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 69.38 | 51.42 | 46.42 | 39.28 | 35.94 | 49.84 | 46.19 | 52.18 | 50.65 | 47.36 |
| EV / EBITDA | 17.83 | 18.00 | 284.01 | 189.67 | 82.50 | 84.90 | 152.12 | 116.99 | 179.49 | 142.30 | 105.09 |
| EV / EBIT | 17.85 | 18.17 | 284.01 | 189.67 | 82.50 | 84.90 | 158.12 | 120.82 | 190.02 | 146.59 | 107.84 |
| EV / FCF | — | 101.79 | 107.66 | 87.82 | 223.70 | 113.20 | 85.23 | 90.47 | 88.01 | 13.27 | 88.06 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.0% | 87.0% | 20.0% | 23.9% | 43.2% | 64.4% | 41.1% | 31.7% | 27.8% | 34.4% | 42.2% |
| Operating Margin | 77.1% | 77.1% | 4.1% | 6.5% | 21.5% | 26.5% | 14.2% | 13.9% | 9.4% | 14.7% | 22.3% |
| Net Profit Margin | -2.5% | -2.5% | 3.1% | 4.7% | 16.8% | 20.3% | 11.0% | 10.9% | 7.1% | 5.6% | 13.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.2% | -3.2% | 4.9% | 7.9% | 23.1% | 28.4% | 14.2% | 17.3% | 11.2% | 8.1% | 17.8% |
| ROA | -0.2% | -0.2% | 0.2% | 0.3% | 0.9% | 0.9% | 0.5% | 0.6% | 0.4% | 0.2% | 0.5% |
| ROIC | 3.8% | 3.8% | 0.2% | 0.4% | 0.8% | 0.9% | 0.4% | 0.6% | 0.4% | 0.5% | 0.7% |
| ROCE | 5.5% | 5.5% | 0.3% | 0.5% | 1.2% | 1.2% | 0.6% | 0.8% | 0.5% | 0.7% | 1.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 19.05 | 19.05 | 18.43 | 20.98 | 22.64 | 29.42 | 34.08 | 26.94 | 27.99 | 31.50 | 31.01 |
| Debt / EBITDA | 18.33 | 18.33 | 279.68 | 185.03 | 81.49 | 81.97 | 150.80 | 114.51 | 177.63 | 139.48 | 101.54 |
| Net Debt / Equity | — | 18.18 | 18.15 | 20.68 | 22.12 | 29.07 | 33.60 | 26.58 | 27.63 | 31.06 | 30.67 |
| Net Debt / EBITDA | 17.48 | 17.48 | 275.53 | 182.35 | 79.64 | 81.00 | 148.66 | 112.95 | 175.33 | 137.55 | 100.44 |
| Debt / FCF | — | 98.87 | 104.45 | 84.43 | 215.94 | 108.00 | 83.29 | 87.34 | 85.97 | 12.83 | 84.16 |
| Interest Coverage | 0.96 | 0.96 | 0.05 | 0.09 | 0.39 | 0.71 | 0.26 | 0.22 | 0.14 | 0.26 | 0.45 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.74 | 0.74 | 0.55 | 0.66 | 0.76 | 0.87 | 0.58 | 0.37 | 0.43 | 0.33 | 0.27 |
| Quick Ratio | 0.74 | 0.74 | 0.55 | 0.66 | 0.76 | 0.87 | 0.58 | 0.37 | 0.43 | 0.33 | 0.27 |
| Cash Ratio | 0.41 | 0.41 | 0.15 | 0.18 | 0.31 | 0.24 | 0.18 | 0.13 | 0.15 | 0.13 | 0.09 |
| Asset Turnover | — | 0.07 | 0.08 | 0.08 | 0.05 | 0.04 | 0.04 | 0.06 | 0.05 | 0.05 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 6.9% | 4.9% | 4.7% | 3.4% | 3.8% | 2.9% | 6.4% | 4.6% | 7.1% | 4.7% | 3.8% |
| Payout Ratio | — | — | 53.4% | 34.2% | 14.1% | 14.9% | 29.9% | 24.6% | 42.0% | 60.3% | 29.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 8.9% | 9.9% | 27.2% | 19.7% | 21.5% | 18.7% | 17.0% | 7.8% | 12.9% |
| FCF Yield | 51.2% | 34.3% | 31.1% | 29.5% | 12.9% | 19.2% | 51.5% | 32.0% | 49.0% | 225.5% | 25.6% |
| Buyback Yield | 12.9% | 8.6% | 12.1% | 13.5% | 16.9% | 16.4% | 20.9% | 13.8% | 9.5% | 11.8% | 14.3% |
| Total Shareholder Yield | 19.8% | 13.5% | 16.9% | 16.9% | 20.7% | 19.4% | 27.3% | 18.4% | 16.6% | 16.5% | 18.1% |
| Shares Outstanding | — | $99M | $111M | $123M | $144M | $172M | $195M | $233M | $264M | $281M | $322M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying NAVI stock.
Navient Corporation's current P/E ratio is -11.3x. The historical average is 7.2x.
Navient Corporation's current EV/EBITDA is 17.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 69.5x.
Navient Corporation's return on equity (ROE) is -3.2%. The historical average is 15.9%.
Based on historical data, Navient Corporation is trading at a P/E of -11.3x. Compare with industry peers and growth rates for a complete picture.
Navient Corporation's current dividend yield is 6.95%.
Navient Corporation has 87.0% gross margin and 77.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Navient Corporation's Debt/EBITDA ratio is 18.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Revenue decline and high leverage
Metrics are mathematically derived from official filings.
Deep Discount Reflects Runoff Fears
Navient trades at 0.38x book value, a steep discount to SLM's 2.37x, implying the market prices it as a liquidating trust rather than a going concern, per recent market data.
The P/B of 0.38x suggests investors are assigning minimal value to the franchise beyond the tangible book, likely due to the shrinking loan portfolio and thin margins. The forward P/E of 12.84x, however, implies a modest earnings recovery, which may be optimistic given the negative TTM net margin. The market appears to be pricing in continued runoff and limited growth, with the BPS segment not yet commanding a premium.
ROE Trapped by Thin NIM and Leverage
ROE swung to 1.0% in Q2 2026 from -3.4% in Q3 2025, but the DuPont decomposition shows NIM of 0.2% and equity-to-assets of 5% yield structurally low returns, per quarterly data.
The razor-thin NIM of 0.2% indicates that asset yields barely cover funding costs, a core profitability drag. The equity-to-assets ratio of 5% amplifies ROE swings, but the negative net margin on a TTM basis suggests that non-interest expenses and provisions are consuming the modest spread. The reliance on wholesale funding, with a debt-to-equity ratio of 19.05, leaves little room for error, and the recent provision benefit masks the underlying earnings weakness.
NIM Stuck at 0.2% as Costs Distort
Net interest margin has held at 0.2% for ten consecutive quarters, while the reported efficiency ratio of 12.0% in Q2 2026 is artificially low due to a $537 million negative provision, per financial statements.
The stable but razor-thin NIM suggests that rising funding costs are offsetting any yield improvements on the loan book, leaving no spread cushion. The efficiency ratio is misleading because it is distorted by the negative provision; excluding that, the true cost structure is likely much higher, as evidenced by the 17-18% ratios in prior quarters. This indicates that operating leverage is not improving, and the BPS segment has not yet achieved the scale to reduce the fixed-cost burden.
Thin Equity Cushion Limits Flexibility
Equity-to-assets has held at 5% for ten quarters, with tangible book value per share around $20, but the high debt-to-equity ratio of 19.05 indicates a leveraged balance sheet, per balance sheet data.
The 5% equity-to-assets ratio is thin for a financial institution, leaving limited buffer against credit losses or market shocks. While the tangible book value per share of $20.50 in Q2 2026 provides a floor, the high leverage amplifies the impact of any asset quality deterioration. The continued capital return through dividends and buybacks, albeit reduced, may be constraining the ability to build capital, especially as the loan book runs off.
Provision Volatility Masks Credit Trends
Loan loss provisions swung from a $168 million charge in Q3 2025 to a $537 million benefit in Q2 2026, creating earnings volatility that obscures the true credit quality, per quarterly filings.
The massive negative provision in Q2 2026 suggests either a significant improvement in credit outlook or a release of reserves that may not be sustainable. This volatility makes it difficult to assess the adequacy of reserves, especially given the potential for rising defaults in the consumer lending segment. Investors should monitor charge-off trends and the coverage ratio, as the current reserve levels may not be sufficient if the macro environment deteriorates.
P/E Misleads on Earnings Quality
The negative TTM P/E of -11.32 is meaningless given the provision-driven earnings, while the forward P/E of 12.84 may overstate recovery, as it relies on non-recurring items, per reported figures.
For Navient, the P/E ratio is commonly misapplied because earnings are heavily influenced by non-cash provision adjustments and derivative accounting. The Q2 2026 EPS beat was driven by a $537 million negative provision, which is not operational income. A more appropriate metric is P/TBV, which at 0.45x (based on $20.50 tangible book) reflects the liquidation value, but even that may be overstated if unrealized losses in the securities portfolio are realized. Investors should focus on core earnings excluding provisions and mark-to-market effects to gauge sustainable profitability.