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SLM Corp (SLM) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · CREDIT SERVICES · DATA UPDATED 2026-08-21

SLM Corp (SLM) operates in the CREDIT SERVICES industry and is headquartered in Newark, United States with about 1,788 employees. Its market capitalization is roughly $5 billion. In the fiscal year ended 2025-12-31, SLM reported $3.1B in revenue and $745M in net income.

SLM 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.

Interactive charts & full statements → Open the SLM valuation workbench →

SLM Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$3.1B	$3.1B	$3.0B	$1.8B	$2.4B	$2.4B	$2.3B	$2.4B	$1.9B	$1.4B	$1.1B	$1.0B	$832M	$849M	$758M	$5.7B	$6.8B	$6.1B	$1.8B	$9.1B	$8.8B
Gross Profit	$1.7B	$1.7B	$1.4B	$2.0B	$1.2B	$2.1B	$1.7B	$1.3B	$1.1B	$941M	$801M	$795M	$650M	$691M	$609M	$2.0B	$3.1B	$1.9B	$1.8B	$1.0B	$3.3B
Gross Margin %	54.9%	53.1%	48.2%	111.6%	50.3%	85.5%	72.9%	55.4%	59.3%	65.6%	69.9%	78.4%	78.2%	81.3%	80.3%	34.7%	45.5%	31.8%	100.0%	11.2%	38.2%
Operating Income (EBIT)	$982M	$993M	$799M	$1.4B	$631M	$1.5B	$1.2B	$744M	$559M	$491M	$414M	$439M	$334M	$417M	$342M	$925M	$1.1B	$808M	$5.5B	($492M)	$2.0B
Operating Margin %	32.0%	31.9%	26.7%	77.4%	26.7%	63.9%	49.3%	31.2%	29.7%	34.3%	36.2%	43.3%	40.1%	49.0%	45.1%	16.4%	16.1%	13.3%	309.7%	-5.4%	22.8%
Net Income	$736M	$745M	$608M	$564M	$469M	$1.2B	$881M	$578M	$487M	$289M	$250M	$274M	$194M	$259M	$218M	$633M	$530M	$324M	($213M)	($896M)	$1.2B
Net Margin %	24.0%	23.9%	20.4%	31.1%	19.8%	48.2%	37.6%	24.3%	25.9%	20.1%	21.8%	27.1%	23.4%	30.5%	28.7%	11.2%	7.8%	5.3%	-11.9%	-9.8%	13.2%
EBITDA	$992M	$995M	$816M	$1.4B	$648M	$1.6B	$1.2B	$758M	$573M	$503M	$424M	$448M	$343M	$425M	$362M	$946M	$1.1B	$847M	$5.5B	($492M)	$2.0B
Earnings Per Share (EPS)	$3.66	$3.60	$2.77	$2.41	$1.79	$3.63	$2.27	$1.34	$1.11	$0.66	$0.58	$0.63	$0.45	$0.58	$0.45	$1.22	$1.09	$0.69	$-0.46	$-2.17	$2.56
Shares Outstanding (M)	189M	207M	220M	234M	262M	320M	387M	431M	440M	439M	433M	432M	432M	449M	483M	517M	488M	472M	467M	412M	451M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SLM Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$670M	$834M	$734M	$830M	$684M	$862M	$689M	$677M
Gross Profit	$275M	$571M	$473M	$366M	$255M	$558M	$282M	$112M
Gross Margin %	41.1%	68.5%	64.4%	44.1%	37.3%	64.7%	40.9%	16.6%
Operating Income (EBIT)	$80M	$400M	$316M	$186M	$88M	$403M	$132M	($60M)
Operating Margin %	12.0%	48.0%	43.1%	22.4%	12.8%	46.8%	19.2%	-8.8%
Net Income	$59M	$308M	$233M	$136M	$71M	$305M	$112M	($45M)
Net Margin %	8.7%	36.9%	31.8%	16.4%	10.4%	35.3%	16.2%	-6.7%
EBITDA	$80M	$405M	$316M	$191M	$92M	$408M	$132M	($54M)
Earnings Per Share (EPS)	$0.31	$1.56	$1.13	$0.66	$0.34	$1.42	$0.52	$-0.21
Shares Outstanding (M)	189M	198M	207M	207M	209M	215M	216M	215M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SLM Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	($328M)	($399M)	($329M)	($145M)	$5M	($50M)	($183M)	($16M)	($103M)	($167M)	($201M)	($91M)	($437M)	$2.0B	$2.6B	$3.1B	($6.7B)	($15.9B)	($5.7B)	($51M)	$808M
Capital Expenditures (CapEx)	—	$0M	$0M	$208M	$0M	$0M	$2.3B	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$13.3B	$0M	$13.8B
Free Cash Flow (FCF)	($328M)	($399M)	($329M)	($352M)	$5M	($50M)	($2.5B)	($16M)	($103M)	($167M)	($201M)	($91M)	($437M)	$2.0B	$2.6B	$3.1B	($6.7B)	($15.9B)	($19.0B)	($51M)	($13.0B)
FCF Margin %	-10.7%	-12.8%	-11.0%	-19.5%	0.2%	-2.1%	-107.3%	-0.7%	-5.5%	-11.6%	-17.5%	-9.0%	-52.5%	235.4%	347.8%	54.4%	-98.8%	-261.3%	-1067.6%	-0.6%	-148.6%
Dividends Paid	$694M	$700M	$117M	$119M	$122M	$65M	$56M	$68M	$16M	$16M	$21M	$20M	$13M	$284M	$257M	$172M	$72M	$116M	$111M	$139M	$433M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SLM Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	($135M)	($76M)	($64M)	($53M)	($139M)	($146M)	$5M	($113M)
Free Cash Flow (FCF)	($135M)	($76M)	($64M)	($53M)	($139M)	($146M)	$5M	($113M)
FCF Margin %	-20.1%	-9.1%	-8.7%	-6.4%	-20.3%	-16.9%	0.7%	-16.8%
Dividends Paid	$28M	$29M	$607M	$30M	$31M	$31M	$32M	$28M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

SLM Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$28.6B	$29.7B	$30.1B	$29.2B	$28.8B	$29.2B	$30.8B	$32.7B	$26.6B	$21.8B	$18.5B	$15.2B	$13.0B	$159.5B	$181.3B	$193.3B	$205.3B	$170.0B	$168.8B	$155.6B	$116.1B
Cash & Cash Equivalents	$4.6B	$4.2B	$4.7B	$4.2B	$4.6B	$4.3B	$4.5B	$5.6B	$2.6B	$1.5B	$1.9B	$2.4B	$2.4B	$6.1B	$5.0B	$2.8B	$4.3B	$6.1B	$4.1B	$7.6B	$2.6B
Total Liabilities	$26.1B	$27.3B	$27.9B	$27.3B	$27.1B	$5.9B	$5.2B	$29.4B	$23.7B	$19.3B	$16.2B	$13.1B	$11.1B	$153.9B	$176.2B	$188.1B	$200.3B	$164.7B	$163.8B	$150.3B	$111.8B
Total Debt (Short + Long-Term)	$5.8B	$5.9B	$6.4B	$10.5B	$10.5B	$11.9B	$10.4B	$4.6B	$23.2B	$18.8B	$15.6B	$1.1B	$25M	$144.3B	$173.2B	$32.1B	$200.0B	$38.9B	$40.8B	$35.9B	$3.5B
Total Shareholders' Equity	$2.5B	$2.5B	$2.2B	$1.9B	$1.7B	$23.3B	$25.6B	$3.3B	$3.0B	$2.5B	$2.3B	$2.1B	$1.8B	$5.6B	$5.1B	$5.2B	$5.0B	$5.3B	$5.0B	$5.2B	$4.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive SLM viewer.

Other Companies in CREDIT SERVICES

FCFS · FirstCash Inc — $9 billion
OMF · OneMain Holdings Inc — $7 billion
CACC · Credit Acceptance Corporation — $6 billion
KLAR · Klarna Group plc — $5 billion
NNI · Nelnet Inc — $5 billion
ENVA · Enova International Inc — $4 billion
BFH · Bread Financial Holdings, Inc. — $4 billion
SEZL · Sezzle Inc. — $4 billion

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