NAVI FY 2022 Earnings Report — Navient Corporation Revenue & Financial Results | Market Cap Arena

Navient CorporationNAVI

FY 2022 Earnings

Reported February 24, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$3.8B	—	$3.5B	—	8.8%
Op. Income	$827M	—	$936M	—	-11.6%
Gross Margin	43.2%	—	64.4%	—	-21.2pp
Net Margin	16.8%	—	20.3%	—	-3.5pp
EPS (Diluted)	$4.48	—	$4.17	—	7.4%
Free Cash Flow	$305M	—	$702M	—	-56.6%

Revenue Flow

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$2.2B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$444M
SG&A Expenses	$444M
Other Expenses	$387M
Operating Expenses	$831M
Cost & Expenses	$3.0B
OPERATING INCOME	$827M
Interest Income	$3.2B
Interest Expense	$2.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$827M
Income Tax Expense	$182M
Net Income from Continuing Ops	$645M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$645M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$645M
D&A	$0
EBIT	$827M
EBITDA	$827M
EPS	$5
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.8B
Cost of Revenue	$2.2B
GROSS PROFIT	$1.7B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$444M
SG&A Expenses	$444M
Other Expenses	$387M
Operating Expenses	$831M
Cost & Expenses	$3.0B
OPERATING INCOME	$827M
Interest Income	$3.2B
Interest Expense	$2.1B
Other Income/Expenses	$0
INCOME BEFORE TAX	$827M
Income Tax Expense	$182M
Net Income from Continuing Ops	$645M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$645M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$645M
D&A	$0
EBIT	$827M
EBITDA	$827M
EPS	$5
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$645M
Depreciation & Amortization	$0
Stock-Based Compensation	$19M
Deferred Income Tax	$0
Other Non-Cash Items	-$492M
Change in Working Capital	$133M
OPERATING CASH FLOW	$305M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$10.6B
NET CASH FROM INVESTING	$10.6B
Net Debt Issuance	-$10.4B
Common Stock Repurchased	-$400M
Common Dividends Paid	-$91M
Other Financing Activities	$1.2B
NET CASH FROM FINANCING	-$9.7B
FREE CASH FLOW	$305M
Net Change in Cash	$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$0
Net Receivables	$2.2B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.8B
PP&E (Net)	$74M
Goodwill	$670M
Intangible Assets	$35M
Long-Term Investments	$62.5B
Tax Assets	$0
Other Non-Current Assets	$3.8B
TOTAL NON-CURRENT ASSETS	$67.0B
TOTAL ASSETS	$70.8B
Account Payables	$0
Short-Term Debt	$5.0B
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$5.0B
Long-Term Debt	$62.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$422M
TOTAL NON-CURRENT LIABILITIES	$62.9B
TOTAL LIABILITIES	$67.8B
Common Stock	$4M
Additional Paid-In Capital	$3.3B
Retained Earnings	$4.5B
Treasury Stock	-$4.9B
Accum. Other Comp. Income	$87M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$70.8B
Total Debt	$67.4B
Net Debt	$65.9B