SLM FY 2016 Earnings Report — SLM Corporation Revenue & Financial Results | Market Cap Arena

SLM CorporationSLM

FY 2016 Earnings

Reported February 24, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2016	Prior Q	FY 2015	QoQ Change	YoY Change
Revenue	$1.1B	—	$1.0B	—	13.1%
Op. Income	$414M	—	$439M	—	-5.6%
Gross Margin	69.9%	—	78.4%	—	-8.6pp
Net Margin	21.8%	—	27.1%	—	-5.2pp
EPS (Diluted)	$0.53	—	$0.59	—	-10.2%
Free Cash Flow	-$201M	—	-$91M	—	-120.3%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$345M
GROSS PROFIT	$801M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$203M
SG&A Expenses	$203M
Other Expenses	$183M
Operating Expenses	$386M
Cost & Expenses	$732M
OPERATING INCOME	$414M
Interest Income	$1.1B
Interest Expense	$186M
Other Income/Expenses	$0
INCOME BEFORE TAX	$414M
Income Tax Expense	$164M
Net Income from Continuing Ops	$250M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$250M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$229M
D&A	$10M
EBIT	$414M
EBITDA	$424M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$345M
GROSS PROFIT	$801M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$203M
SG&A Expenses	$203M
Other Expenses	$183M
Operating Expenses	$386M
Cost & Expenses	$732M
OPERATING INCOME	$414M
Interest Income	$1.1B
Interest Expense	$186M
Other Income/Expenses	$0
INCOME BEFORE TAX	$414M
Income Tax Expense	$164M
Net Income from Continuing Ops	$250M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$250M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$229M
D&A	$10M
EBIT	$414M
EBITDA	$424M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$250M
Depreciation & Amortization	$10M
Stock-Based Compensation	$23M
Deferred Income Tax	-$89M
Other Non-Cash Items	$172M
Change in Working Capital	-$568M
OPERATING CASH FLOW	-$201M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$56M
Sales/Maturities of Investments	$39M
Other Investing Activities	-$3.3B
NET CASH FROM INVESTING	-$3.3B
Net Debt Issuance	$1.1B
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$2.0B
NET CASH FROM FINANCING	$3.0B
FREE CASH FLOW	-$201M
Net Change in Cash	-$497M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.9B
Short-Term Investments	$209M
Net Receivables	$1.0B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.2B
PP&E (Net)	$87M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$15.1B
Tax Assets	$0
Other Non-Current Assets	$199M
TOTAL NON-CURRENT ASSETS	$15.4B
TOTAL ASSETS	$18.5B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$13.7B
TOTAL CURRENT LIABILITIES	$13.7B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$326M
TOTAL NON-CURRENT LIABILITIES	$2.5B
TOTAL LIABILITIES	$16.2B
Common Stock	$87M
Additional Paid-In Capital	$1.2B
Retained Earnings	$595M
Treasury Stock	-$67M
Accum. Other Comp. Income	-$9M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$18.5B
Total Debt	$2.2B
Net Debt	$249M