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

SLM CorporationSLM

FY 2021 Earnings

Reported February 24, 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	$2.4B	—	$2.3B	—	2.9%
Op. Income	$1.5B	—	$1.2B	—	33.5%
Gross Margin	85.5%	—	72.9%	—	12.6pp
Net Margin	48.2%	—	37.6%	—	10.6pp
EPS (Diluted)	$3.61	—	$2.25	—	60.4%
Free Cash Flow	-$50M	—	$2.1B	—	-102.3%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$349M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$282M
SG&A Expenses	$282M
Other Expenses	$238M
Operating Expenses	$520M
Cost & Expenses	$869M
OPERATING INCOME	$1.5B
Interest Income	$1.8B
Interest Expense	$382M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$380M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$16M
EBIT	$1.5B
EBITDA	$1.6B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$349M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$282M
SG&A Expenses	$282M
Other Expenses	$238M
Operating Expenses	$520M
Cost & Expenses	$869M
OPERATING INCOME	$1.5B
Interest Income	$1.8B
Interest Expense	$382M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$380M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$16M
EBIT	$1.5B
EBITDA	$1.6B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$16M
Stock-Based Compensation	$31M
Deferred Income Tax	$66M
Other Non-Cash Items	-$540M
Change in Working Capital	-$782M
OPERATING CASH FLOW	-$50M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.3B
Sales/Maturities of Investments	$866M
Other Investing Activities	$3.0B
NET CASH FROM INVESTING	$2.6B
Net Debt Issuance	$731M
Common Stock Repurchased	-$1.5B
Common Dividends Paid	-$60M
Other Financing Activities	-$1.8B
NET CASH FROM FINANCING	-$2.6B
FREE CASH FLOW	-$50M
Net Change in Cash	-$64M

Balance Sheet

Item	Amount
Cash & Equivalents	$4.3B
Short-Term Investments	$2.5B
Net Receivables	$1.5B
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$8.3B
PP&E (Net)	$151M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$20.5B
Tax Assets	$0
Other Non-Current Assets	$284M
TOTAL NON-CURRENT ASSETS	$20.9B
TOTAL ASSETS	$29.2B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$20.8B
TOTAL CURRENT LIABILITIES	$20.8B
Long-Term Debt	$5.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$313M
TOTAL NON-CURRENT LIABILITIES	$6.2B
TOTAL LIABILITIES	$27.1B
Common Stock	$86M
Additional Paid-In Capital	$1.1B
Retained Earnings	$2.8B
Treasury Stock	-$2.1B
Accum. Other Comp. Income	-$18M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.1B
Minority Interest	$0
TOTAL EQUITY	$2.1B
TOTAL LIABILITIES & EQUITY	$29.2B
Total Debt	$5.9B
Net Debt	$1.6B