SLM FY 2017 Earnings Report — SLM Corporation Revenue & Financial Results | Market Cap Arena

SLM CorporationSLM

FY 2017 Earnings

Reported February 23, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.1B	—	25.2%
Op. Income	$491M	—	$414M	—	18.6%
Gross Margin	65.6%	—	69.9%	—	-4.3pp
Net Margin	20.1%	—	21.8%	—	-1.7pp
EPS (Diluted)	$0.62	—	$0.53	—	17.0%
Free Cash Flow	-$167M	—	-$201M	—	16.9%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$494M
GROSS PROFIT	$941M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$242M
SG&A Expenses	$242M
Other Expenses	$207M
Operating Expenses	$449M
Cost & Expenses	$943M
OPERATING INCOME	$491M
Interest Income	$1.4B
Interest Expense	$308M
Other Income/Expenses	$0
INCOME BEFORE TAX	$491M
Income Tax Expense	$203M
Net Income from Continuing Ops	$289M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$289M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$273M
D&A	$11M
EBIT	$491M
EBITDA	$503M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$494M
GROSS PROFIT	$941M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$242M
SG&A Expenses	$242M
Other Expenses	$207M
Operating Expenses	$449M
Cost & Expenses	$943M
OPERATING INCOME	$491M
Interest Income	$1.4B
Interest Expense	$308M
Other Income/Expenses	$0
INCOME BEFORE TAX	$491M
Income Tax Expense	$203M
Net Income from Continuing Ops	$289M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$289M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$273M
D&A	$11M
EBIT	$491M
EBITDA	$503M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$289M
Depreciation & Amortization	$12M
Stock-Based Compensation	$28M
Deferred Income Tax	-$59M
Other Non-Cash Items	$252M
Change in Working Capital	-$688M
OPERATING CASH FLOW	-$167M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$78M
Sales/Maturities of Investments	$40M
Other Investing Activities	-$3.2B
NET CASH FROM INVESTING	-$3.2B
Net Debt Issuance	$1.1B
Common Stock Repurchased	-$165M
Common Dividends Paid	$0
Other Financing Activities	$1.9B
NET CASH FROM FINANCING	$3.0B
FREE CASH FLOW	-$167M
Net Change in Cash	-$384M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.5B
Short-Term Investments	$244M
Net Receivables	$1.1B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.9B
PP&E (Net)	$90M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$18.6B
Tax Assets	$0
Other Non-Current Assets	$208M
TOTAL NON-CURRENT ASSETS	$18.9B
TOTAL ASSETS	$21.8B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$15.7B
TOTAL CURRENT LIABILITIES	$15.7B
Long-Term Debt	$3.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$282M
TOTAL NON-CURRENT LIABILITIES	$3.6B
TOTAL LIABILITIES	$19.3B
Common Stock	$89M
Additional Paid-In Capital	$1.2B
Retained Earnings	$868M
Treasury Stock	-$108M
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.5B
Minority Interest	$0
TOTAL EQUITY	$2.5B
TOTAL LIABILITIES & EQUITY	$21.8B
Total Debt	$3.3B
Net Debt	$1.7B