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SLMBP

SLM Corporation

SLMBP

SLM Corporation • NASDAQ
$74.39 ▼ -0.81% (-0.61)
Market Cap $6.67 B
52w High $83.15
52w Low $65.50
Dividend Yield 6.05%
P/E 34.68
Volume 5.18K
Outstanding Shares 89.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $830.289M ▲ $180.404M ▲ $135.85M ▲ 16.362% ▲ $0.64 ▲ $190.691M ▲
Q2-2025 $683.535M ▼ $167.244M ▲ $71.272M ▼ 10.427% ▼ $0.32 ▼ $92.5M ▼
Q1-2025 $862.134M ▲ $154.609M ▲ $304.54M ▲ 35.324% ▲ $1.43 ▲ $408.093M ▲
Q4-2024 $689.155M ▲ $149.628M ▼ $111.553M ▲ 16.187% ▲ $0.51 ▲ $132.495M ▲
Q3-2024 $677.162M $172.023M $-45.152M -6.668% $-0.23 $-54.115M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.539B ▼ $29.605B ▲ $27.264B ▲ $2.341B ▼
Q2-2025 $4.092B ▲ $29.603B ▲ $27.228B ▲ $2.375B ▼
Q1-2025 $3.695B ▼ $28.899B ▼ $26.498B ▼ $2.401B ▲
Q4-2024 $4.7B ▲ $30.072B ▲ $27.912B ▲ $2.16B ▲
Q3-2024 $4.539B $30.013B $27.879B $2.134B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $135.85M ▲ $-52.772M ▲ $-251.341M ▼ $-220.618M ▼ $-525.006M ▼ $-52.772M ▲
Q2-2025 $71.272M ▼ $-138.729M ▲ $-34.993M ▼ $561.387M ▲ $387.665M ▲ $-138.729M ▲
Q1-2025 $304.54M ▲ $-146.051M ▼ $496.928M ▲ $-1.357B ▼ $-1.006B ▼ $-146.051M ▼
Q4-2024 $111.553M ▲ $4.539M ▲ $268.67M ▲ $-59.472M ▼ $213.737M ▲ $4.539M ▲
Q3-2024 $-45.152M $-113.421M $-1.814B $1.183B $-744.155M $-113.421M

Revenue by Products

Product Q1-2013Q2-2013Q3-2013Q1-2014
Business Services
Business Services
 $0 ▲$200.00M ▲$170.00M ▼$170.00M ▲
Consumer Lending
Consumer Lending
 $10.00M ▲$10.00M ▲$10.00M ▲$0 ▼
Core Earnings
Core Earnings
 $0 ▲$110.00M ▲$100.00M ▼$110.00M ▲
Ffelp Loans
Ffelp Loans
 $0 ▲$20.00M ▲$20.00M ▲$10.00M ▼

Five-Year Company Overview

Income Statement

Income Statement SLM’s income statement shows a business that is growing at a steady, not explosive, pace with fairly strong profitability for a lender. Revenue has been edging up over the last several years, helped by growth in the private student loan market. Profitability (what’s left after costs and credit losses) has generally been healthy, though not perfectly smooth. Earnings jumped in the post‑pandemic period, then pulled back, and have since rebuilt to solid levels again. The pattern tells a story of a lender that manages to earn good spreads on its loans, but whose results can swing with credit costs, interest rates, and one‑off items. Overall, recent years indicate stable to improving earnings power, but with the normal ups and downs you’d expect from a specialty finance company tied closely to the economic and policy environment around higher education.

Balance Sheet

Balance Sheet The balance sheet reflects a classic specialized lender: a large loan book funded with meaningful debt and a relatively small equity base. Total assets have stayed fairly stable, suggesting the company is not radically changing its size but managing a mature, focused portfolio. Cash and liquid resources are sizeable for a financial firm, providing some flexibility and a buffer against funding needs. Debt has been creeping higher, which is normal for a lender but still means leverage is a key risk to watch, especially if credit conditions worsen. Equity is modest compared with total assets, indicating efficient use of capital but also leaving less room for error if loan performance deteriorates. In short, the balance sheet looks typical for this type of business: functional and purposeful, but reliant on disciplined risk control and stable funding markets.

Cash Flow

Cash Flow Cash flow looks choppy, which is common for a company whose main “product” is loans. Operating cash flow has hovered around breakeven to slightly negative in several years. This doesn’t necessarily signal weak economics; instead, it reflects the fact that when SLM originates more loans, cash goes out the door upfront even if those loans are profitable over time. Free cash flow also swings, partly because of changes in lending volume and portfolio management decisions. For a financial lender like this, cash flow statements can look less intuitive than for a manufacturer or software firm. The key takeaway is that the business is designed to recycle capital through the loan book rather than to throw off steady excess cash every year.

Competitive Edge

Competitive Edge SLM holds a leading position in the private student loan niche, which gives it a meaningful competitive edge despite operating in a broader, crowded financial services landscape. Its long history and brand recognition in education finance create trust with students, parents, and schools. This brand familiarity makes it harder for newer or more generalist lenders to displace it at the moment of borrowing decisions. The company’s specialization in student lending, along with deep data and underwriting experience in this segment, is another advantage. It knows the patterns of student borrowers, school quality, and repayment behavior better than most general lenders. However, the flip side is concentration risk: the business is heavily tied to the private education market and to regulatory and political sentiment around student debt.

Innovation and R&D

Innovation and R&D Instead of traditional lab‑style R&D, SLM’s “innovation engine” is its digital platforms, data analytics, and partnerships. It has invested in a digital ecosystem that meets students well before they borrow: planning tools, scholarship search services, and mobile apps that guide families through the college financing process. Acquisitions like Nitro and Scholly extend this reach, giving SLM more ways to attract and retain prospective borrowers in a seamless online journey. The firm is also experimenting with new structures and partners, such as its collaboration with KKR in private credit and its work with Adtalem to explore alternative financing for healthcare students. These efforts aim to open new fee‑based and lending opportunities while keeping capital use efficient. Overall, innovation is focused on better data, better customer acquisition, and new funding channels rather than on entirely new business lines.

Summary

Putting it all together, SLM looks like a focused, profitable specialty finance company centered on private student lending, with earnings that have generally trended upward but remain sensitive to credit costs, interest rates, and policy shifts. Its balance sheet and cash flows are typical for a lender: substantial leverage, relatively thin equity compared with assets, and cash movements that can look volatile as loan volumes change. That structure can work well as long as underwriting stays disciplined and funding markets stay open, but it increases vulnerability in stressed environments. On the positive side, SLM benefits from strong brand recognition, deep specialization, and a well‑developed digital presence that engages students early. Strategic partnerships and regulatory changes could expand its addressable market over time. Key uncertainties revolve around the health of the student loan market, political and regulatory changes around higher education financing, and the broader credit cycle. How effectively SLM balances growth, risk management, and funding stability will be central to its long‑term performance.

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