SLM Past Earnings Performance
Past criteria checks 2/6
SLM's earnings have been declining at an average annual rate of -15.2%, while the Consumer Finance industry saw earnings declining at 0.9% annually. Revenues have been declining at an average rate of 6.6% per year. SLM's return on equity is 30.7%, and it has net margins of 44%.
Key information
-15.22%
Earnings growth rate
-1.31%
EPS growth rate
| Consumer Finance Industry Growth | 7.20% |
| Revenue growth rate | -6.62% |
| Return on equity | 30.70% |
| Net Margin | 44.01% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jun 04
SLM: Credit Stability And Capital Returns Will Support Future Re Rating
Analysts have nudged the SLM price target higher by about $0.64, pointing to updated views on fair value; a slightly higher assumed discount rate; softer revenue growth expectations; modestly lower profit margin assumptions; and a small adjustment to the future P/E multiple in light of recent mixed target changes across the Street. Analyst Commentary Recent Street research on SLM shows a mix of higher and lower price targets, along with at least one reported upgrade, reflecting a debate over how the stock should be valued against execution risks and growth opportunities.Narrative Update • Apr 24
SLM: Credit Stability And Medical Graduate Lending Expansion Will Support Future Re Rating
Analysts have adjusted the blended price target on SLM slightly lower by about $1, reflecting recent cuts from several firms partly offset by a $2 increase. They are factoring in a more uncertain macro backdrop, modestly lower profit margin assumptions, and a slightly higher future P/E multiple.Narrative Update • Apr 10
SLM: Share Repurchases And Credit Stability Will Offset Persistent AI Risk Overhang
Analysts have trimmed the blended price target on SLM to about $29 as they factor in updated fair value assumptions, slightly lower profit margins and a modestly softer revenue outlook, while still keeping a relatively low future P/E in focus. Analyst Commentary Recent Street research on SLM clusters around a tighter valuation range, with most firms trimming price targets while reassessing growth, credit risk and the impact of AI on graduate outcomes.Narrative Update • Mar 27
SLM: Share Repurchases And Credit Stability Will Counter Persistent AI Risk Overhang
Narrative Update on SLM Analysts have trimmed SLM's average price target by a few dollars to around the high $20s, reflecting sector wide cuts tied to a more uncertain macro backdrop and ongoing debate around credit risk and AI driven pressure on graduate outcomes. Analyst Commentary Recent research on SLM centers on how macro uncertainty, potential AI disruption and credit risk feed into valuation and growth expectations.Narrative Update • Mar 12
SLM: Share Repurchases Will Counter AI And Credit Risk Overhang
Analysts have trimmed their average price target on SLM by about $0.90. This reflects a series of modest target cuts into the high $20s and low $30s as they factor in a more uncertain macro backdrop, credit risk concerns, and the ongoing AI related overhang.Narrative Update • Feb 26
SLM: Share Repurchases Will Offset Credit Risk And Support Future Returns
Analysts have trimmed their average price target for SLM by a small amount to reflect slightly higher perceived risk and modestly softer margin and fair value assumptions, citing mixed recent research where some firms raised targets while others lowered them, and one downgraded the stock on concerns about cyclical credit risk and structural pressures on the student lending model. Analyst Commentary Recent Street research on SLM highlights a split view, with some firms trimming price targets and others lifting them, while JPMorgan has turned more cautious on the shares.Narrative Update • Feb 09
SLM: Share Repurchases And Credit Discipline Will Drive Future Returns
Analysts have raised their price targets on SLM by about $2 to $3. This reflects a slightly lower assumed discount rate and mixed views on credit risk and the long term resilience of the company's business model.Analysis Article • Feb 03
SLM (NASDAQ:SLM) Is Due To Pay A Dividend Of $0.13
SLM Corporation ( NASDAQ:SLM ) will pay a dividend of $0.13 on the 16th of March. This means that the annual payment...Narrative Update • Jan 25
SLM: Higher Buybacks And Credit Discipline Will Support Future Returns
Analyst Price Target Narrative Update Analysts have nudged their SLM price targets higher by roughly $2 to $3, reflecting updated views on credit risk, college graduate job markets, and the long term resilience of the company’s business model in the face of AI related disruptions. Analyst Commentary Recent research on SLM reflects mixed sentiment, with some analysts revising price targets higher and others taking a more cautious stance on credit quality and the long term outlook for private student lending.Narrative Update • Jan 11
SLM: Reaffirmed Credit Guidance And Tighter Underwriting Will Support Future Returns
Analysts have trimmed their price target on SLM to about $31.82 from $31.91, reflecting concerns around asset-backed securities performance. At the same time, they point to management's reaffirmed credit guidance, tighter underwriting, and an increased profit margin outlook, alongside a slightly lower assumed P/E multiple.Narrative Update • Dec 15
SLM: Future Earnings Will Benefit From Resilient Credit Trends Amid Sector Volatility
Analysts have reduced their price target on SLM to approximately $31.90 from about $34.73, reflecting increased concerns about potential credit and ABS headwinds, despite still supportive long term earnings and consumer credit views. Analyst Commentary Recent Street research reflects a more balanced stance on SLM, with price targets moving lower on average but ratings largely remaining constructive, as analysts recalibrate expectations around credit performance, funding conditions, and the macro backdrop for student borrowers.Narrative Update • Nov 30
SLM: Future Earnings Will Benefit From Improving Credit Performance And Evolving Market Conditions
Analysts have modestly lowered their average price target for SLM to a range of $29 to $40. This shift reflects heightened concerns around credit quality, consumer health, and the resumption of student loan repayments, even as management maintains its credit guidance amid tighter market conditions.Narrative Update • Nov 16
SLM: Future Earnings Will Reflect Improved Credit Performance Amid Sector Uncertainty
Analysts have lowered their average price target for SLM by a notable margin. The shift from around $40 to $31 is due to rising concerns over credit trends, ABS performance, and macroeconomic headwinds, even as long-term guidance remains cautiously optimistic.Narrative Update • Nov 01
SLM: Lower Federal Student Loan Supply Will Boost Private Lending Demand
The analyst price target for SLM has decreased from around $35.18 to $34.73, reflecting concerns about credit quality, weaker revenue growth projections, and market headwinds as highlighted by recent analyst commentary. Analyst Commentary Recent analyst reports on SLM present a mix of optimism and caution.Analysis Article • Oct 28
SLM Corporation Just Missed Earnings - But Analysts Have Updated Their Models
SLM Corporation ( NASDAQ:SLM ) just released its latest third-quarter report and things are not looking great. Results...Narrative Update • Oct 18
Federal Loan Reforms Will Widen The Private Lending Market
Analysts have lowered SLM's average price target from approximately $38 to $35 per share, citing recent concerns over credit performance and cautious consumer trends, even though management has reaffirmed its guidance. Analyst Commentary Recent analyst updates reflect a divided outlook on SLM, with some expressing optimism about long-term earnings and credit management, while others raise concerns about short-term credit trends and macroeconomic headwinds.Narrative Update • Oct 04
Federal Loan Reforms Will Widen The Private Lending Market
Analysts have raised their price target for SLM to $40, up from previous estimates of $37. They cite continued strength in loan growth, improved credit performance, and new market opportunities for the company.Analysis Article • Jul 15
SLM Corporation's (NASDAQ:SLM) Shares Not Telling The Full Story
SLM Corporation's ( NASDAQ:SLM ) price-to-earnings (or "P/E") ratio of 11.6x might make it look like a buy right now...Seeking Alpha • Jul 03
SLM Corporation: Moderating Expectations, But Valuation Remains Hot; Uncertain Policy Optionality
Summary SLM Corporation has delivered strong results, but performance is likely to normalize due to higher funding costs and tougher year-over-year comparisons. Loan origination benefited from Discover's exit, but this sets a high bar for future growth as origination momentum slows. Net interest margins should stabilize in the low-to-mid 5% range, while asset quality remains solid but requires ongoing monitoring. Valuation appears stretched, and while policy changes could be a catalyst, uncertainty leads me to maintain a neutral (hold) rating. Read the full article on Seeking AlphaAnalysis Article • Mar 31
SLM Corporation (NASDAQ:SLM) Doing What It Can To Lift Shares
With a price-to-earnings (or "P/E") ratio of 10.3x SLM Corporation ( NASDAQ:SLM ) may be sending bullish signals at the...Seeking Alpha • Mar 22
SLM Corporation: With Student Loan Policy Shifting, Sallie Mae Quietly Gains Ground
Summary SLM Corporation, a leader in private student loans, is poised to benefit from potential regulatory changes but faces short-term volatility due to economic uncertainties. Despite strong fundamentals and steady growth, recession fears and high valuation warrant a HOLD rating, aligning with the current quant rating. Investors should monitor economic conditions closely, as better entry points may emerge if uncertainties persist, despite long-term bullish prospects for SLM. Read the full article on Seeking AlphaSeeking Alpha • Jan 24
SLM Corporation: Lending Strength To Your Portfolio
Summary SLM Corporation has shown strong performance with a 50% one-year return, driven by increased private education loan originations and improved credit quality. SLM’s 2024 highlights include record loan originations, improved credit quality, and a robust capital return strategy, indicating management’s confidence in long-term growth. Despite regulatory risks and operational cash flow challenges, SLM’s appealing valuation and growth prospects make it a potential buy for investors comfortable with some uncertainty. The optimistic 2025 forecast, with expected EPS growth and lower forward P/E ratios, supports the case for potential upside in SLM’s stock. Read the full article on Seeking AlphaAnalysis Article • Nov 26
Improved Earnings Required Before SLM Corporation (NASDAQ:SLM) Stock's 27% Jump Looks Justified
SLM Corporation ( NASDAQ:SLM ) shareholders have had their patience rewarded with a 27% share price jump in the last...Analysis Article • Oct 27
SLM (NASDAQ:SLM) Has Announced That It Will Be Increasing Its Dividend To $0.13
SLM Corporation ( NASDAQ:SLM ) will increase its dividend on the 16th of December to $0.13, which is 18% higher than...
New Narrative • Aug 30
Boost In Credit Quality And Tactical Capital Returns Clashing With Revenue Declines And Analyst Concerns
Enhanced credit and loan performance metrics hint at potential for higher net margins and stronger net income through improved credit quality and loss mitigation programs.Analysis Article • Jul 12
SLM Corporation's (NASDAQ:SLM) Business And Shares Still Trailing The Market
With a price-to-earnings (or "P/E") ratio of 6.5x SLM Corporation ( NASDAQ:SLM ) may be sending very bullish signals at...Analysis Article • Apr 26
SLM (NASDAQ:SLM) Has Announced A Dividend Of $0.11
SLM Corporation ( NASDAQ:SLM ) will pay a dividend of $0.11 on the 17th of June. Based on this payment, the dividend...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How SLM makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 1,665 | 733 | 385 | 0 |
| 31 Dec 25 | 1,652 | 729 | 380 | 0 |
| 30 Sep 25 | 1,461 | 607 | 382 | 0 |
| 30 Jun 25 | 1,207 | 425 | 392 | 0 |
| 31 Mar 25 | 1,449 | 605 | 394 | 0 |
| 31 Dec 24 | 1,441 | 590 | 401 | 0 |
| 30 Sep 24 | 1,586 | 647 | 397 | 0 |
| 30 Jun 24 | 1,685 | 721 | 392 | 0 |
| 31 Mar 24 | 1,700 | 735 | 383 | 0 |
| 31 Dec 23 | 1,464 | 564 | 372 | 0 |
| 30 Sep 23 | 1,080 | 319 | 360 | 0 |
| 30 Jun 23 | 1,126 | 367 | 334 | 0 |
| 31 Mar 23 | 1,204 | 447 | 313 | 0 |
| 31 Dec 22 | 1,190 | 460 | 291 | 0 |
| 30 Sep 22 | 1,671 | 846 | 278 | 0 |
| 30 Jun 22 | 1,647 | 845 | 281 | 0 |
| 31 Mar 22 | 1,378 | 643 | 283 | 0 |
| 31 Dec 21 | 2,060 | 1,156 | 282 | 0 |
| 30 Sep 21 | 2,209 | 1,282 | 286 | 0 |
| 30 Jun 21 | 2,353 | 1,379 | 277 | 0 |
| 31 Mar 21 | 2,047 | 1,152 | 288 | 0 |
| 31 Dec 20 | 1,718 | 871 | 304 | 0 |
| 30 Sep 20 | 1,341 | 577 | 314 | 0 |
| 30 Jun 20 | 1,286 | 533 | 324 | 0 |
| 31 Mar 20 | 1,594 | 766 | 318 | 0 |
| 31 Dec 19 | 1,318 | 561 | 311 | 0 |
| 30 Sep 19 | 1,338 | 567 | 302 | 0 |
| 30 Jun 19 | 1,216 | 543 | 300 | 0 |
| 31 Mar 19 | 1,179 | 503 | 294 | 0 |
| 31 Dec 18 | 1,116 | 472 | 285 | 0 |
| 30 Sep 18 | 1,010 | 372 | 280 | 0 |
| 30 Jun 18 | 1,043 | 346 | 267 | 0 |
| 31 Mar 18 | 984 | 307 | 257 | 0 |
| 31 Dec 17 | 941 | 273 | 242 | 0 |
| 30 Sep 17 | 920 | 294 | 230 | 0 |
| 30 Jun 17 | 891 | 272 | 220 | 0 |
| 31 Mar 17 | 852 | 258 | 212 | 0 |
| 31 Dec 16 | 791 | 229 | 203 | 0 |
| 30 Sep 16 | 809 | 249 | 196 | 0 |
| 30 Jun 16 | 762 | 238 | 197 | 0 |
| 31 Mar 16 | 817 | 273 | 187 | 0 |
| 31 Dec 15 | 795 | 255 | 173 | 0 |
| 30 Sep 15 | 698 | 185 | 166 | 0 |
| 30 Jun 15 | 765 | 222 | 148 | 0 |
Quality Earnings: SLM has a high level of non-cash earnings.
Growing Profit Margin: SLM's current net profit margins (44%) are higher than last year (41.8%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: SLM's earnings have declined by 15.2% per year over the past 5 years.
Accelerating Growth: SLM's earnings growth over the past year (21.1%) exceeds its 5-year average (-15.2% per year).
Earnings vs Industry: SLM earnings growth over the past year (21.1%) did not outperform the Consumer Finance industry 24.1%.
Return on Equity
High ROE: Whilst SLM's Return on Equity (30.7%) is high, this metric is skewed due to their high level of debt.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/08 10:43 |
| End of Day Share Price | 2026/06/05 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
SLM Corporation is covered by 27 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Terry Ma | Barclays |
| Bruce Harting | Barclays |
| James Fotheringham | BMO Capital Markets Equity Research |