Navient Corporation (NAVI) Financials

14Y historyFree accessUpdated daily

Revenue has experienced a consistent downward trajectory, falling from $1.2 billion in 2023Q4 to $695 million by 2026Q1, while gross margins remain highly volatile, swinging from -0.9% in 2025Q3 to 88.4% in 2025Q4.

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12

Sales/Revenue	3.06B	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Goods Sold	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
COGS % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	916M	2.81B	848M	1.16B	1.66B	2.27B	1.53B	1.74B	1.55B	1.78B	2.09B	2.52B	2.93B	3.17B	2.23B
Gross Margin %	29.92%	86.96%	20.03%	23.9%	43.19%	64.42%	41.06%	31.69%	27.78%	34.45%	42.18%	48.71%	51.92%	50.99%	37.95%
Gross Profit Growth %	-	231.13%	-26.64%	-30.28%	-27.02%	48.21%	-11.8%	11.91%	-13%	-14.76%	-16.94%	-13.87%	-7.72%	42.43%	-
Operating Expenses	378M	317M	674M	843M	831M	1.34B	1B	975M	1.02B	1.02B	986M	941M	1.11B	1.08B	790M
OpEx % of Revenue	-	9.82%	15.92%	17.43%	21.65%	37.88%	26.81%	17.78%	18.33%	19.7%	19.86%	18.18%	19.67%	17.44%	13.46%
Selling, General & Admin	156M	0	316M	401M	444M	569M	497M	488M	507M	519M	500M	467M	479M	504M	457M
SG&A % of Revenue	-	-	7.46%	8.29%	11.57%	16.13%	13.31%	8.9%	9.07%	10.02%	10.07%	9.02%	8.5%	8.1%	7.79%
Research & Development	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	538M	2.49B	174M	313M	827M	936M	532M	763M	528M	764M	1.11B	1.58B	1.82B	2.09B	1.44B
Operating Margin %	17.57%	77.14%	4.11%	6.47%	21.54%	26.54%	14.25%	13.91%	9.44%	14.74%	22.32%	30.53%	32.25%	33.55%	24.49%
Operating Income Growth %	-	1331.61%	-44.41%	-62.15%	-11.65%	75.94%	-30.28%	44.51%	-30.89%	-31.05%	-29.87%	-13.09%	-12.89%	45.23%	-
EBITDA	544M	2.49B	174M	313M	827M	936M	553M	788M	559M	787M	1.14B	1.59B	1.83B	2.1B	1.44B
EBITDA Margin %	17.77%	77.24%	4.11%	6.47%	21.54%	26.54%	14.81%	14.37%	10%	15.19%	22.9%	30.76%	32.41%	33.76%	24.49%
EBITDA Growth %	571.6%	1333.33%	-44.41%	-62.15%	-11.65%	69.26%	-29.82%	40.97%	-28.97%	-30.78%	-28.58%	-12.86%	-13%	46.14%	-
D&A (Non-Cash Add-back)	6M	3M	0	0	0	0	21M	25M	31M	23M	29M	12M	9M	13M	0
EBIT	526M	2.47B	174M	313M	827M	936M	532M	763M	528M	764M	1.11B	1.58B	1.82B	2.09B	1.44B
Net Interest Income	526M	526M	536M	862M	1.12B	1.33B	1.25B	1.19B	1.24B	1.41B	1.71B	2.22B	2.67B	3.17B	3.21B
Interest Income	3B	3.11B	3.81B	4.42B	3.22B	2.65B	3.3B	4.67B	4.91B	4.38B	4.15B	4.29B	4.73B	5.38B	5.77B
Interest Expense	2.47B	2.58B	3.27B	3.56B	2.1B	1.32B	2.05B	3.49B	3.67B	2.97B	2.44B	2.07B	2.06B	2.21B	2.56B
Other Income/Expense	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-74M	-111M	174M	313M	827M	936M	532M	763M	528M	764M	1.11B	1.58B	1.82B	2.09B	1.44B
Pretax Margin %	-2.42%	-3.44%	4.11%	6.47%	21.54%	26.54%	14.25%	13.91%	9.44%	14.74%	22.32%	30.53%	32.25%	33.55%	24.49%
Income Tax	-14M	-31M	43M	85M	182M	219M	120M	166M	133M	472M	427M	597M	681M	776M	498M
Effective Tax Rate %	18.92%	27.93%	24.71%	27.16%	22.01%	23.4%	22.56%	21.76%	25.19%	61.78%	38.54%	37.78%	37.46%	37.18%	34.66%
Net Income	-60M	-80M	131M	228M	645M	717M	412M	597M	395M	292M	681M	984M	1.14B	1.42B	939M
Net Margin %	-1.96%	-2.48%	3.09%	4.71%	16.8%	20.33%	11.03%	10.89%	7.06%	5.63%	13.72%	19.01%	20.17%	22.79%	16%
Net Income Growth %	-207.14%	-161.07%	-42.54%	-64.65%	-10.04%	74.03%	-30.99%	51.14%	35.27%	-57.12%	-30.79%	-13.46%	-19.82%	51.01%	-
Net Income (Continuing)	-60M	-80M	131M	228M	645M	717M	412M	597M	395M	292M	681M	983M	1.14B	1.31B	939M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	1M	0	106M	-2M
Minority Interest	0	0	0	0	0	11M	14M	13M	28M	31M	24M	24M	0	5M	6M
EPS (Diluted)	-0.63	-0.81	1.18	1.85	4.48	4.17	2.11	2.56	1.50	1.04	2.12	2.61	2.69	3.12	1.90
EPS Growth %	-223.53%	-168.64%	-36.22%	-58.71%	7.43%	97.63%	-17.58%	70.67%	44.23%	-50.94%	-18.77%	-2.97%	-13.78%	64.21%	-
EPS (Basic)	-	-0.81	1.20	1.87	4.54	4.22	2.13	2.60	1.52	1.06	2.15	2.66	2.74	3.18	1.93
Diluted Shares Outstanding	96M	99M	111M	123M	144M	172M	195M	233M	264M	281M	322M	382M	425M	449M	483M
Basic Shares Outstanding	95M	99M	109M	122M	142.07M	170M	193M	230M	259.87M	275.47M	316.74M	374.81M	417.15M	440M	476M
Dividend Payout Ratio	-	-	53.44%	34.21%	14.11%	14.92%	29.85%	24.62%	42.03%	60.27%	29.52%	24.39%	21.9%	18.62%	25.24%

Key Metrics

Growth RegimeContracting

ProfitabilityStrained

Balance SheetStrained

Cash FlowMixed

Top Statement Risk

Portfolio Amortization and NIM

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Revenue Erosion Amid Portfolio Run-off

As reported in recent financial statements, Navient's revenue has experienced a consistent downward trajectory, falling from $1.2 billion in 2023Q4 to $695 million by 2026Q1, reflecting the structural decline of the legacy FFELP loan portfolio as it continues to amortize over time.

The persistent contraction in top-line figures suggests that the company's core lending assets are liquidating faster than the Business Processing Solutions segment can offset. Investors should monitor whether the BPS segment can achieve sufficient scale to stabilize revenue, as the current trend indicates a business model in a state of managed decline.

Volatile Margins Reflect Operational Instability

Based on the provided income statement data, gross margins have exhibited extreme volatility, swinging from a low of -0.9% in 2025Q3 to a peak of 88.4% in 2025Q4, highlighting the unpredictable nature of interest-based income and the impact of non-operating adjustments on reported profitability.

The wide variance in margin performance suggests that the company's underlying profitability is highly sensitive to derivative accounting and interest rate fluctuations rather than stable operational efficiency. This lack of margin consistency complicates valuation efforts and warrants further investigation into the sustainability of core earnings.

Operating Leverage Constrained by Costs

According to the quarterly data, Navient has struggled to maintain positive operating leverage, with operating income frequently dipping into negative territory, most notably reaching a loss of $117 million in 2025Q3 despite significant ongoing expenditures in SG&A and other operational overheads.

The inability to scale operating income alongside revenue suggests that the company's fixed-cost base remains disproportionately high relative to its shrinking asset base. This structural mismatch implies that management faces significant challenges in rightsizing the organization to match the current, smaller scale of the business.

Earnings Quality Obscured by Volatility

As indicated by the reported figures, net income has been highly inconsistent, with the company recording a $73 million profit in 2024Q1 followed by multiple quarters of losses, suggesting that headline EPS is heavily influenced by non-recurring items and derivative-related accounting adjustments.

The frequent divergence between operating income and net income suggests that investors should exercise caution when relying on GAAP earnings to assess the company's true performance. The presence of stock-based compensation, while relatively modest, further complicates the assessment of true economic profitability in a period of declining revenue.

Structural Risks to Terminal Value

Based on the provided financial data, the primary risk to the narrative is the potential for accelerated portfolio liquidation, as evidenced by the sharp revenue decline from $1.2 billion in 2024Q1 to $695 million in 2026Q1, which may outpace the company's ability to pivot.

Short-sellers would likely focus on the persistent negative net margins and the high debt-to-equity ratio, which limit the company's ability to maneuver during periods of credit market stress. The reliance on legacy assets for cash flow creates a 'melting ice cube' scenario that may not be adequately offset by the BPS segment's growth.

NAVI — Frequently Asked Questions

Quick answers to the most common questions about buying NAVI stock.

Is Navient Corporation (NAVI) profitable?

Navient Corporation (NAVI) reported a net loss of $80.0M for the fiscal year ending 2025.

What is Navient Corporation's operating profit margin?

Navient Corporation (NAVI) reported an operating income of $2.49B, resulting in an operating profit margin of 77.1%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Navient Corporation's gross profit and gross margin?

Navient Corporation (NAVI) generated $2.81B in gross profit for the year, representing a gross profit margin of 87.0%. This demonstrates the company's core pricing power and production efficiency.

Navient Corporation (NAVI) Financials

14Y historyFree accessUpdated daily

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12

Sales/Revenue	3.06B	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Goods Sold	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
COGS % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	916M	2.81B	848M	1.16B	1.66B	2.27B	1.53B	1.74B	1.55B	1.78B	2.09B	2.52B	2.93B	3.17B	2.23B
Gross Margin %	29.92%	86.96%	20.03%	23.9%	43.19%	64.42%	41.06%	31.69%	27.78%	34.45%	42.18%	48.71%	51.92%	50.99%	37.95%
Gross Profit Growth %	-	231.13%	-26.64%	-30.28%	-27.02%	48.21%	-11.8%	11.91%	-13%	-14.76%	-16.94%	-13.87%	-7.72%	42.43%	-
Operating Expenses	378M	317M	674M	843M	831M	1.34B	1B	975M	1.02B	1.02B	986M	941M	1.11B	1.08B	790M
OpEx % of Revenue	-	9.82%	15.92%	17.43%	21.65%	37.88%	26.81%	17.78%	18.33%	19.7%	19.86%	18.18%	19.67%	17.44%	13.46%
Selling, General & Admin	156M	0	316M	401M	444M	569M	497M	488M	507M	519M	500M	467M	479M	504M	457M
SG&A % of Revenue	-	-	7.46%	8.29%	11.57%	16.13%	13.31%	8.9%	9.07%	10.02%	10.07%	9.02%	8.5%	8.1%	7.79%
Research & Development	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	538M	2.49B	174M	313M	827M	936M	532M	763M	528M	764M	1.11B	1.58B	1.82B	2.09B	1.44B
Operating Margin %	17.57%	77.14%	4.11%	6.47%	21.54%	26.54%	14.25%	13.91%	9.44%	14.74%	22.32%	30.53%	32.25%	33.55%	24.49%
Operating Income Growth %	-	1331.61%	-44.41%	-62.15%	-11.65%	75.94%	-30.28%	44.51%	-30.89%	-31.05%	-29.87%	-13.09%	-12.89%	45.23%	-
EBITDA	544M	2.49B	174M	313M	827M	936M	553M	788M	559M	787M	1.14B	1.59B	1.83B	2.1B	1.44B
EBITDA Margin %	17.77%	77.24%	4.11%	6.47%	21.54%	26.54%	14.81%	14.37%	10%	15.19%	22.9%	30.76%	32.41%	33.76%	24.49%
EBITDA Growth %	571.6%	1333.33%	-44.41%	-62.15%	-11.65%	69.26%	-29.82%	40.97%	-28.97%	-30.78%	-28.58%	-12.86%	-13%	46.14%	-
D&A (Non-Cash Add-back)	6M	3M	0	0	0	0	21M	25M	31M	23M	29M	12M	9M	13M	0
EBIT	526M	2.47B	174M	313M	827M	936M	532M	763M	528M	764M	1.11B	1.58B	1.82B	2.09B	1.44B
Net Interest Income	526M	526M	536M	862M	1.12B	1.33B	1.25B	1.19B	1.24B	1.41B	1.71B	2.22B	2.67B	3.17B	3.21B
Interest Income	3B	3.11B	3.81B	4.42B	3.22B	2.65B	3.3B	4.67B	4.91B	4.38B	4.15B	4.29B	4.73B	5.38B	5.77B
Interest Expense	2.47B	2.58B	3.27B	3.56B	2.1B	1.32B	2.05B	3.49B	3.67B	2.97B	2.44B	2.07B	2.06B	2.21B	2.56B
Other Income/Expense	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-74M	-111M	174M	313M	827M	936M	532M	763M	528M	764M	1.11B	1.58B	1.82B	2.09B	1.44B
Pretax Margin %	-2.42%	-3.44%	4.11%	6.47%	21.54%	26.54%	14.25%	13.91%	9.44%	14.74%	22.32%	30.53%	32.25%	33.55%	24.49%
Income Tax	-14M	-31M	43M	85M	182M	219M	120M	166M	133M	472M	427M	597M	681M	776M	498M
Effective Tax Rate %	18.92%	27.93%	24.71%	27.16%	22.01%	23.4%	22.56%	21.76%	25.19%	61.78%	38.54%	37.78%	37.46%	37.18%	34.66%
Net Income	-60M	-80M	131M	228M	645M	717M	412M	597M	395M	292M	681M	984M	1.14B	1.42B	939M
Net Margin %	-1.96%	-2.48%	3.09%	4.71%	16.8%	20.33%	11.03%	10.89%	7.06%	5.63%	13.72%	19.01%	20.17%	22.79%	16%
Net Income Growth %	-207.14%	-161.07%	-42.54%	-64.65%	-10.04%	74.03%	-30.99%	51.14%	35.27%	-57.12%	-30.79%	-13.46%	-19.82%	51.01%	-
Net Income (Continuing)	-60M	-80M	131M	228M	645M	717M	412M	597M	395M	292M	681M	983M	1.14B	1.31B	939M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	1M	0	106M	-2M
Minority Interest	0	0	0	0	0	11M	14M	13M	28M	31M	24M	24M	0	5M	6M
EPS (Diluted)	-0.63	-0.81	1.18	1.85	4.48	4.17	2.11	2.56	1.50	1.04	2.12	2.61	2.69	3.12	1.90
EPS Growth %	-223.53%	-168.64%	-36.22%	-58.71%	7.43%	97.63%	-17.58%	70.67%	44.23%	-50.94%	-18.77%	-2.97%	-13.78%	64.21%	-
EPS (Basic)	-	-0.81	1.20	1.87	4.54	4.22	2.13	2.60	1.52	1.06	2.15	2.66	2.74	3.18	1.93
Diluted Shares Outstanding	96M	99M	111M	123M	144M	172M	195M	233M	264M	281M	322M	382M	425M	449M	483M
Basic Shares Outstanding	95M	99M	109M	122M	142.07M	170M	193M	230M	259.87M	275.47M	316.74M	374.81M	417.15M	440M	476M
Dividend Payout Ratio	-	-	53.44%	34.21%	14.11%	14.92%	29.85%	24.62%	42.03%	60.27%	29.52%	24.39%	21.9%	18.62%	25.24%

Key Metrics

Growth RegimeContracting

ProfitabilityStrained

Balance SheetStrained

Cash FlowMixed

Top Statement Risk

Portfolio Amortization and NIM

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

NAVI — Frequently Asked Questions

Quick answers to the most common questions about buying NAVI stock.

Is Navient Corporation (NAVI) profitable?

Navient Corporation (NAVI) reported a net loss of $80.0M for the fiscal year ending 2025.

What is Navient Corporation's operating profit margin?

What is Navient Corporation's gross profit and gross margin?

Navient Corporation (NAVI) generated $2.81B in gross profit for the year, representing a gross profit margin of 87.0%. This demonstrates the company's core pricing power and production efficiency.

NAVI Income Statement

Key Metrics

Top Statement Risk

NAVI Income Statement

Key Metrics

Top Statement Risk