SYF Q3 2021 Earnings Report — Synchrony Financial Revenue & Financial Results | Market Cap Arena

Synchrony FinancialSYF

Q3 2021 Earnings

Reported October 21, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2021	Q2 2021	Q3 2020	QoQ Change	YoY Change
Revenue	$2.7B	$2.7B	$3.1B	2.4%	-11.2%
Op. Income	$1.5B	$1.6B	$412M	-8.6%	264.1%
Gross Margin	90.3%	97.3%	48.2%	-7.0pp	42.1pp
Net Margin	41.9%	46.7%	10.2%	-4.8pp	31.7pp
EPS (Diluted)	$2.00	$2.12	$0.52	-5.7%	284.6%
Free Cash Flow	$1.8B	$1.4B	$1.5B	26.0%	22.4%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$265M
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$110M
General & Administrative	$369M
SG&A Expenses	$479M
Other Expenses	$482M
Operating Expenses	$961M
Cost & Expenses	$1.2B
OPERATING INCOME	$1.5B
Interest Income	$3.9B
Interest Expense	$240M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$359M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$93M
EBIT	$1.5B
EBITDA	$1.6B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$265M
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$110M
General & Administrative	$369M
SG&A Expenses	$479M
Other Expenses	$482M
Operating Expenses	$961M
Cost & Expenses	$1.2B
OPERATING INCOME	$1.5B
Interest Income	$3.9B
Interest Expense	$240M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$359M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$93M
EBIT	$1.5B
EBITDA	$1.6B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$93M
Stock-Based Compensation	$25M
Deferred Income Tax	$46M
Other Non-Cash Items	$154M
Change in Working Capital	$356M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$150M
Sales/Maturities of Investments	$413M
Other Investing Activities	-$2.1B
NET CASH FROM INVESTING	-$1.8B
Net Debt Issuance	-$700M
Common Stock Repurchased	-$1.3B
Common Dividends Paid	-$124M
Other Financing Activities	$513M
NET CASH FROM FINANCING	-$1.6B
FREE CASH FLOW	$1.8B
Net Change in Cash	-$1.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$9.8B
Short-Term Investments	$5.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$15.3B
PP&E (Net)	$0
Goodwill	$1.1B
Intangible Assets	$1.1B
Long-Term Investments	$79.8B
Tax Assets	$0
Other Non-Current Assets	-$5.3B
TOTAL NON-CURRENT ASSETS	$76.7B
TOTAL ASSETS	$91.9B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$60.4B
TOTAL CURRENT LIABILITIES	$65.2B
Long-Term Debt	$12.8B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$12.8B
TOTAL LIABILITIES	$78.0B
Common Stock	$1M
Additional Paid-In Capital	$9.6B
Retained Earnings	$13.6B
Treasury Stock	-$9.9B
Accum. Other Comp. Income	-$64M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.9B
Minority Interest	$0
TOTAL EQUITY	$13.9B
TOTAL LIABILITIES & EQUITY	$91.9B
Total Debt	$12.8B
Net Debt	$3.0B