SLM FY 2019 Earnings Report — SLM Corporation Revenue & Financial Results | Market Cap Arena

SLM CorporationSLM

FY 2019 Earnings

Reported February 28, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$2.4B	—	$1.9B	—	26.4%
Op. Income	$744M	—	$559M	—	33.0%
Gross Margin	55.4%	—	59.3%	—	-3.9pp
Net Margin	24.3%	—	25.9%	—	-1.6pp
EPS (Diluted)	$1.34	—	$1.07	—	25.2%
Free Cash Flow	-$16M	—	-$103M	—	84.8%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.1B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$311M
SG&A Expenses	$311M
Other Expenses	$263M
Operating Expenses	$574M
Cost & Expenses	$1.6B
OPERATING INCOME	$744M
Interest Income	$2.3B
Interest Expense	$708M
Other Income/Expenses	$0
INCOME BEFORE TAX	$744M
Income Tax Expense	$165M
Net Income from Continuing Ops	$578M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$578M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$561M
D&A	$15M
EBIT	$744M
EBITDA	$758M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.1B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$311M
SG&A Expenses	$311M
Other Expenses	$263M
Operating Expenses	$574M
Cost & Expenses	$1.6B
OPERATING INCOME	$744M
Interest Income	$2.3B
Interest Expense	$708M
Other Income/Expenses	$0
INCOME BEFORE TAX	$744M
Income Tax Expense	$165M
Net Income from Continuing Ops	$578M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$578M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$561M
D&A	$15M
EBIT	$744M
EBITDA	$758M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$578M
Depreciation & Amortization	$15M
Stock-Based Compensation	$31M
Deferred Income Tax	$2M
Other Non-Cash Items	$373M
Change in Working Capital	-$1.0B
OPERATING CASH FLOW	-$16M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$356M
Sales/Maturities of Investments	$51M
Other Investing Activities	-$2.0B
NET CASH FROM INVESTING	-$2.3B
Net Debt Issuance	$351M
Common Stock Repurchased	-$167M
Common Dividends Paid	-$51M
Other Financing Activities	$5.2B
NET CASH FROM FINANCING	$5.4B
FREE CASH FLOW	-$16M
Net Change in Cash	$3.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$5.6B
Short-Term Investments	$488M
Net Receivables	$1.5B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$7.6B
PP&E (Net)	$135M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$24.8B
Tax Assets	$0
Other Non-Current Assets	$239M
TOTAL NON-CURRENT ASSETS	$25.1B
TOTAL ASSETS	$32.7B
Account Payables	$0
Short-Term Debt	$289M
Deferred Revenue	$0
Other Current Liabilities	$24.5B
TOTAL CURRENT LIABILITIES	$24.8B
Long-Term Debt	$4.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$255M
TOTAL NON-CURRENT LIABILITIES	$4.6B
TOTAL LIABILITIES	$29.4B
Common Stock	$91M
Additional Paid-In Capital	$1.3B
Retained Earnings	$1.9B
Treasury Stock	-$325M
Accum. Other Comp. Income	-$12M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$0
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$32.7B
Total Debt	$4.6B
Net Debt	-$921M