SLM (SLM) financial statements
SLM reported revenue of $2.0B in fiscal 2025, up 8.4% a year over 9 years.
Net income was $745M.
The diluted share count fell 51% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SLM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $960M | $1.1B | $1.4B | $1.7B | $1.8B | $2.0B | $1.8B | $1.8B | $1.8B | $2.0B |
| Interest expense | $186M | $308M | $522M | $708M | $542M | $382M | $543M | $1.0B | — | — |
| Pre-tax income | $414M | $491M | $559M | $744M | $1.2B | $1.5B | $631M | $778M | $799M | $993M |
| Income tax | $164M | $203M | $72M | $165M | $273M | $380M | $162M | $197M | $190M | $248M |
| Net income | $250M | $273M | $472M | $561M | $871M | $1.2B | $460M | $581M | $608M | $745M |
| EPS (diluted) | $0.53 | $0.62 | $1.07 | $1.30 | $2.25 | $3.61 | $1.76 | $2.41 | $2.68 | $3.46 |
| Diluted shares | 433M | 439M | 440M | 431M | 387M | 320M | 262M | 234M | 220M | 211M |
| Net margin | 26.1% | 24.3% | 34.7% | 33.6% | 48.1% | 57.0% | 25.2% | 32.1% | 32.9% | 37.5% |
Balance sheet
Fiscal years, from SLM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.9B | $1.5B | $2.6B | $5.6B | $4.5B | $4.3B | $4.6B | $4.1B | $4.7B | $4.2B |
| Property, plant and equipment | $87M | $90M | $106M | $135M | $155M | $151M | $141M | $130M | $119M | $122M |
| Goodwill | — | — | — | — | — | — | $51M | $56M | $56M | $56M |
| Total assets | $18.5B | $21.8B | $26.6B | $32.7B | $30.8B | $29.2B | $28.8B | $29.2B | $30.1B | $29.7B |
| Total liabilities | $16.2B | $19.3B | $23.7B | $29.4B | $28.2B | $27.1B | $27.1B | $27.3B | $27.9B | $27.3B |
| Shareholders' equity | $2.3B | $2.5B | $3.0B | $3.3B | $2.6B | $2.1B | $1.7B | $1.9B | $2.2B | $2.5B |
| Net debt | -$1.9B | -$1.5B | -$2.6B | -$5.6B | -$4.5B | -$4.3B | -$4.6B | -$4.1B | -$4.7B | -$4.2B |
Cash flow
Fiscal years, from SLM's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$199M | -$171M | -$103M | -$16M | -$183M | -$50M | $5M | -$145M | -$329M | -$399M |
| Stock-based compensation | $23M | $28M | $32M | $31M | $36M | $31M | $34M | $36M | $40M | $41M |
| Dividends paid | $21M | $16M | $16M | $17M | $46M | $60M | $113M | $101M | $99M | $108M |
| Share buybacks (net) | — | $0 | $0 | -$167M | -$558M | -$1.5B | -$713M | -$350M | -$248M | -$369M |
| Net borrowing | — | — | — | — | — | — | — | $1.1B | $2.2B | — |
| Dividends per share | $0.05 | $0.04 | $0.04 | $0.04 | $0.12 | $0.19 | $0.43 | $0.43 | $0.45 | $0.51 |
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What was SLM's revenue in 2025?
$2.0B in fiscal 2025, from its 10-K filing.
From SLM's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.