NAVI FY 2021 Earnings Report — Navient Corporation Revenue & Financial Results | Market Cap Arena

Navient CorporationNAVI

FY 2021 Earnings

Reported February 25, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$3.5B	—	$3.7B	—	-5.5%
Op. Income	$936M	—	$532M	—	75.9%
Gross Margin	64.4%	—	41.1%	—	23.4pp
Net Margin	20.3%	—	11.0%	—	9.3pp
EPS (Diluted)	$4.17	—	$2.11	—	97.6%
Free Cash Flow	$702M	—	$987M	—	-28.9%

Revenue Flow

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$569M
SG&A Expenses	$569M
Other Expenses	$767M
Operating Expenses	$1.3B
Cost & Expenses	$2.6B
OPERATING INCOME	$936M
Interest Income	$2.6B
Interest Expense	$1.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$936M
Income Tax Expense	$219M
Net Income from Continuing Ops	$717M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$717M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$717M
D&A	$0
EBIT	$936M
EBITDA	$936M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.5B
Cost of Revenue	$1.3B
GROSS PROFIT	$2.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$569M
SG&A Expenses	$569M
Other Expenses	$767M
Operating Expenses	$1.3B
Cost & Expenses	$2.6B
OPERATING INCOME	$936M
Interest Income	$2.6B
Interest Expense	$1.3B
Other Income/Expenses	$0
INCOME BEFORE TAX	$936M
Income Tax Expense	$219M
Net Income from Continuing Ops	$717M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$717M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$717M
D&A	$0
EBIT	$936M
EBITDA	$936M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$717M
Depreciation & Amortization	$0
Stock-Based Compensation	$22M
Deferred Income Tax	$0
Other Non-Cash Items	-$469M
Change in Working Capital	$432M
OPERATING CASH FLOW	$702M
Capital Expenditure	$0
Acquisitions (Net)	-$16M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$6.7B
NET CASH FROM INVESTING	$6.7B
Net Debt Issuance	-$4.7B
Common Stock Repurchased	-$600M
Common Dividends Paid	-$107M
Other Financing Activities	-$2.0B
NET CASH FROM FINANCING	-$7.3B
FREE CASH FLOW	$702M
Net Change in Cash	$41M

Balance Sheet

Item	Amount
Cash & Equivalents	$905M
Short-Term Investments	$0
Net Receivables	$2.4B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.3B
PP&E (Net)	$95M
Goodwill	$671M
Intangible Assets	$54M
Long-Term Investments	$73.3B
Tax Assets	$0
Other Non-Current Assets	$3.2B
TOTAL NON-CURRENT ASSETS	$77.3B
TOTAL ASSETS	$80.6B
Account Payables	$0
Short-Term Debt	$3.8B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.8B
Long-Term Debt	$72.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$1.3B
TOTAL NON-CURRENT LIABILITIES	$74.2B
TOTAL LIABILITIES	$78.0B
Common Stock	$4M
Additional Paid-In Capital	$3.3B
Retained Earnings	$3.9B
Treasury Stock	-$4.5B
Accum. Other Comp. Income	-$133M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$11M
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$80.6B
Total Debt	$76.7B
Net Debt	$75.8B