SLM Corporation (SLM) 10-Year Financial Performance & Capital Metrics

SLM • • Banking & Credit

Financial ServicesCredit ServicesStudent & Education FinancePrivate Student Lenders

AboutSLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and omnibus accounts, as well as credit card loans. It serves students and families through financial aid, federal loans, and student and family resources. The company was formerly known as New BLC Corporation and changed its name to SLM Corporation in December 2013. SLM Corporation was founded in 1972 and is headquartered in Newark, Delaware.Show more

Net Interest Income $1.48B -5.2%
Total Revenue $2.99B +5.2%
Net Income $608M +4.6%
Return on Equity 30.11% -6.6%
Net Interest Margin 4.92% -8.1%
Efficiency Ratio 21.49% -11.0%
ROA 2.05% +2.4%
Equity / Assets 7.18% +11.4%
Book Value per Share 9.82 +22.2%
Tangible BV/Share 9.82 +22.2%
Debt/Equity 2.98 +7.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 28.8%
✓Strong NIM of 4.9%
✓Efficient operations: 21.5% efficiency ratio
✓Share count reduced 6.0% through buybacks

✗Weaknesses

✗High debt to equity ratio of 3.0x

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.64%

5Y4.65%

3Y7.43%

TTM-

Profit (Net Income) CAGR

10Y12.09%

5Y1.02%

3Y-19.37%

TTM-6.31%

EPS CAGR

10Y20.36%

5Y14.87%

3Y-9.45%

TTM-0.7%

ROCE

10Y Avg11.61%

5Y Avg12.24%

3Y Avg9.38%

Latest9.67%

Peer Comparison

Private Student Lenders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SLMSLM Corporation	5.48B	26.99	10.07	5.21%	20.36%	26.62%		2.98

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	702.5M	891.34M	1.13B	1.41B	1.62B	1.48B	1.39B	1.49B	1.56B	1.48B
NII Growth %	0.21%	0.27%	0.27%	0.25%	0.15%	-0.09%	-0.06%	0.07%	0.05%	-0.05%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	831.12M	1.08B	1.44B	1.94B	2.33B	2.02B	1.78B	2.03B	2.59B	2.62B
Interest Expense	128.62M	185.91M	308.08M	522.29M	707.72M	541.67M	382.08M	542.8M	1.03B	1.14B
Loan Loss Provision	90.06M	159.41M	185.76M	244.86M	354.25M	93.13M	-32.96M	633.45M	345.46M	408.51M
Non-Interest Income+	182.59M	68.82M	-2.9M	-51.9M	48.93M	320.12M	632.45M	334.64M	247.12M	368.27M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	1.01B	1.15B	1.43B	1.88B	2.38B	2.34B	2.41B	2.37B	2.84B	2.99B
Revenue Growth %	0.22%	0.13%	0.25%	0.31%	0.26%	-0.02%	0.03%	-0.02%	0.2%	0.05%
Non-Interest Expense	355.97M	386.31M	449.09M	556.98M	574.25M	552.97M	519.91M	559.24M	685.57M	641.9M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	439.06M	414.44M	491.46M	559.33M	743.74M	1.15B	1.54B	630.73M	778.3M	798.64M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.32%	-0.06%	0.19%	0.14%	0.33%	0.55%	0.33%	-0.59%	0.23%	0.03%
Pretax Income+	439.06M	414.44M	491.46M	559.33M	743.74M	1.15B	1.54B	630.73M	778.3M	798.64M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	164.78M	164.11M	202.53M	71.85M	165.46M	273.32M	379.75M	161.71M	196.91M	190.31M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	274.28M	250.33M	288.93M	487.48M	578.28M	880.69M	1.16B	469.01M	581.39M	608.33M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.41%	-0.09%	0.15%	0.69%	0.19%	0.52%	0.32%	-0.6%	0.24%	0.05%
Net Income (Continuing)	274.28M	250.33M	288.93M	487.48M	578.28M	880.69M	1.16B	469.01M	581.39M	608.33M
EPS (Diluted)+	0.59	0.53	0.62	1.07	1.34	2.25	3.61	1.76	2.41	2.68
EPS Growth %	0.4%	-0.1%	0.17%	0.73%	0.25%	0.68%	0.6%	-0.51%	0.37%	0.11%
EPS (Basic)	0.60	0.54	0.63	1.08	1.35	2.27	3.67	1.78	2.44	2.73
Diluted Shares Outstanding	432.23M	432.92M	438.55M	439.68M	430.67M	387.19M	319.91M	261.5M	234.06M	219.93M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	2.42B	1.92B	1.53B	2.56B	5.56B	4.46B	4.33B	4.62B	4.15B	4.7B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Total Investments+	11.8B	15.3B	18.81B	22.5B	25.24B	24.15B	23B	22.09B	22.81B	22.95B
Investments Growth %	0.22%	0.3%	0.23%	0.2%	0.12%	-0.04%	-0.05%	-0.04%	0.03%	0.01%
Long-Term Investments	11.6B	15.09B	18.57B	22.33B	24.75B	22.15B	20.48B	19.75B	20.4B	22.95B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	1.75M	0	0	0	0	0	0	0	0	0
PP&E (Net)	81.27M	87.06M	89.75M	105.5M	134.75M	154.67M	150.52M	140.73M	129.5M	119.35M
Other Assets	166.19M	199.19M	208.28M	198.38M	239.36M	233.75M	284.21M	257.86M	265.72M	268.88M
Total Current Assets	3.36B	3.15B	2.91B	4.01B	7.56B	8.23B	8.31B	8.54B	8.31B	6.67B
Total Non-Current Assets	11.85B	15.38B	18.87B	22.63B	25.13B	22.54B	20.92B	20.27B	20.86B	23.4B
Total Assets+	15.21B	18.53B	21.78B	26.64B	32.69B	30.77B	29.22B	28.81B	29.17B	30.07B
Asset Growth %	0.17%	0.22%	0.18%	0.22%	0.23%	-0.06%	-0.05%	-0.01%	0.01%	0.03%
Return on Assets (ROA)	0.02%	0.01%	0.01%	0.02%	0.02%	0.03%	0.04%	0.02%	0.02%	0.02%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	1.08B	2.17B	3.28B	4.28B	4.64B	5.19B	5.93B	5.24B	5.23B	6.44B
Net Debt	-1.34B	249.19M	1.74B	1.73B	-920.61M	733.92M	1.6B	619M	1.08B	1.74B
Long-Term Debt	579.1M	2.17B	3.28B	4.28B	4.35B	5.19B	5.93B	5.24B	5.23B	6.44B
Short-Term Debt	500.18M	0	0	0	289.23M	0	0	0	0	0
Other Liabilities	275.41M	326.26M	281.6M	224.95M	254.73M	352.33M	313.07M	400.87M	407.97M	403.28M
Total Current Liabilities	12.26B	13.69B	15.75B	19.16B	24.77B	22.67B	20.83B	21.45B	21.65B	21.07B
Total Non-Current Liabilities	854.51M	2.49B	3.56B	4.51B	4.61B	5.54B	6.24B	5.64B	5.64B	6.84B
Total Liabilities	13.12B	16.19B	19.31B	23.67B	29.37B	28.21B	27.07B	27.08B	27.29B	27.91B
Total Equity+	2.1B	2.35B	2.47B	2.97B	3.31B	2.56B	2.15B	1.73B	1.88B	2.16B
Equity Growth %	0.15%	0.12%	0.05%	0.2%	0.11%	-0.23%	-0.16%	-0.2%	0.09%	0.15%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.14%	0.11%	0.12%	0.18%	0.18%	0.3%	0.49%	0.24%	0.32%	0.3%
Book Value per Share	4.85	5.42	5.64	6.76	7.69	6.62	6.72	6.60	8.04	9.82
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	86.14M	87.33M	88.69M	89.97M	90.72M	91.35M	86.4M	87.03M	87.65M	88.12M
Additional Paid-in Capital	1.14B	1.18B	1.22B	1.27B	1.31B	1.33B	1.07B	1.11B	1.15B	1.19B
Retained Earnings	366.61M	595.32M	868.18M	1.34B	1.85B	1.72B	2.82B	3.16B	3.62B	4.11B
Accumulated OCI	-16.06M	-8.67M	2.75M	10.62M	-12.37M	-34.2M	-17.9M	-93.87M	-75.1M	-65.86M
Treasury Stock	-41.22M	-67.48M	-107.64M	-142.59M	-324.66M	-798.99M	-2.06B	-2.79B	-3.16B	-3.42B
Preferred Stock	565M	565M	400M	400M	400M	251.07M	251.07M	251.07M	251.07M	251.07M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-91.2M	-200.93M	-166.91M	-102.74M	-15.64M	-182.67M	-49.52M	4.99M	-144.64M	-329.39M
Operating CF Growth %	0.79%	-1.2%	0.17%	0.38%	0.85%	-10.68%	0.73%	1.1%	-29.97%	-1.28%
Net Income	274.28M	250.33M	288.93M	487.48M	578.28M	880.69M	1.16B	469.01M	581.39M	608.33M
Depreciation & Amortization	8.92M	10.5M	11.64M	13.83M	14.67M	15.07M	16.04M	25.11M	84.17M	17.65M
Deferred Taxes	-77.23M	-88.73M	-58.75M	29.51M	1.94M	81.84M	65.82M	-88.44M	-20.41M	0
Other Non-Cash Items	-35.2M	171.9M	251.76M	277.25M	372.95M	-105.16M	-540.09M	413.5M	224.4M	193.76M
Working Capital Changes	-283.58M	-567.86M	-688.4M	-942.33M	-1.01B	-1.09B	-782.46M	-848.65M	-1.05B	-1.15B
Cash from Investing+	-1.85B	-3.33B	-3.21B	-3.25B	-2.31B	947.33M	2.6B	1.08B	-12.46M	675.99M
Purchase of Investments	-64.11M	-55.77M	-78.33M	-15.88M	-356.41M	-2.08B	-1.26B	-753.13M	-105.97M	-91.88M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	16.92M	0	-127.65M	-14.65M	0
Other Investing	-1.82B	-3.31B	-3.17B	-3.32B	-2B	28.71M	3B	998.16M	-157.49M	-64.58M
Cash from Financing+	2B	3.03B	2.99B	4.4B	5.36B	-1.88B	-2.62B	-854.89M	-316.23M	228.16M
Dividends Paid	-19.59M	-21.2M	-15.71M	-15.64M	-67.95M	-56.09M	-65.2M	-121.99M	-118.94M	-117.47M
Share Repurchases	0	0	-165M	0	-167.2M	-558.17M	-1.53B	-713.2M	-350.26M	-247.97M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	-1000K	1000K
Other Financing	938.2M	1.97B	1.91B	3.42B	5.24B	-1.8B	-1.75B	685.84M	172.2M	-609M
Net Change in Cash+	56.44M	-497.43M	-384.45M	1.05B	3.04B	-1.11B	-64.36M	227.49M	-473.33M	574.75M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	2.36B	2.42B	1.92B	1.64B	2.68B	5.72B	4.61B	4.55B	4.77B	4.3B
Cash at End	2.42B	1.92B	1.53B	2.68B	5.72B	4.61B	4.55B	4.77B	4.3B	4.87B
Interest Paid	111.56M	169.85M	269.02M	472.46M	666.02M	517.44M	359.68M	482.97M	963.26M	1.11B
Income Taxes Paid	205.7M	271.72M	282.28M	228.07M	201.79M	248.12M	261.47M	272.94M	191.69M	243.34M
Free Cash Flow+	-91.2M	-200.93M	-166.91M	-102.74M	-15.64M	2.15B	-49.52M	4.99M	-144.64M	-329.39M
FCF Growth %	0.79%	-1.2%	0.17%	0.38%	0.85%	138.32%	-1.02%	1.1%	-29.97%	-1.28%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.97%	11.27%	11.99%	17.9%	18.4%	29.98%	49.25%	24.2%	32.23%	30.11%
Return on Assets (ROA)	1.95%	1.48%	1.43%	2.01%	1.95%	2.78%	3.87%	1.62%	2.01%	2.05%
Net Interest Margin	4.62%	4.81%	5.18%	5.3%	4.97%	4.81%	4.77%	5.17%	5.36%	4.92%
Efficiency Ratio	35.12%	33.71%	31.31%	29.57%	24.13%	23.61%	21.58%	23.63%	24.14%	21.49%
Equity / Assets	13.78%	12.66%	11.36%	11.16%	10.13%	8.33%	7.36%	5.99%	6.45%	7.18%
Book Value / Share	4.85	5.42	5.64	6.76	7.69	6.62	6.72	6.6	8.04	9.82
NII Growth	21.44%	26.88%	26.69%	25.14%	14.88%	-8.83%	-5.76%	6.74%	4.93%	-5.21%
Dividend Payout	-	-	-	-	8.84%	5.26%	5.21%	24.08%	17.41%	16.3%

Revenue by Segment

	2010	2011	2012	2013
Business Services	330M	970M	910M	710M
Business Services Growth	-	193.94%	-6.19%	-21.98%
Core Earnings	-	381M	376M	290M
Core Earnings Growth	-	-	-1.31%	-22.87%
Ffelp Loans	-	-	90M	76M
Ffelp Loans Growth	-	-	-	-15.56%
Consumer Lending	-	64M	46M	34M
Consumer Lending Growth	-	-	-28.13%	-26.09%
Intersegment Elimination	-	-	-670M	-
Intersegment Elimination Growth	-	-	-	-
FFELP Loans	-	85M	-	-
FFELP Loans Growth	-	-	-	-
All Others	-	1M	-	-
All Others Growth	-	-	-	-
Business Intersegment Eliminations	-	-739M	-	-
Business Intersegment Eliminations Growth	-	-	-	-
Total "Core Earnings"	330M	-	-	-
Total "Core Earnings" Growth	-	-	-	-
Eliminations	-	-	-	-
Eliminations Growth	-	-	-	-
Other	-	-	-	-
Other Growth	-	-	-	-
Adjustment	-	-	-	-
Adjustment Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

SLM Corporation (SLM) has a price-to-earnings (P/E) ratio of 10.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

SLM Corporation (SLM) grew revenue by 5.2% over the past year. This is steady growth.

Yes, SLM Corporation (SLM) is profitable, generating $623.2M in net income for fiscal year 2024 (20.4% net margin).

Dividend & Returns

Yes, SLM Corporation (SLM) pays a dividend with a yield of 1.67%. This makes it attractive for income-focused investors.

SLM Corporation (SLM) has a return on equity (ROE) of 30.1%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

SLM Corporation (SLM) has a net interest margin (NIM) of 4.9%. This indicates healthy earnings from lending activities.

SLM Corporation (SLM) has an efficiency ratio of 21.5%. This is excellent, indicating strong cost control.

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