Synchrony Financial (SYF) Balance Sheet
SYF balance sheet, 2025
December 31, 2025 · U.S. dollars$119.09B assets = $102.33B liabilities + $16.77B equity
Both columns are drawn to the same scale: what SYF owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SYF financial health
Descriptive bands, not a rating. Fiscal 2025.
SYF balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $90.21B2016 | $119.09B2025 | +3.1%/yr | |
| Total liabilities | $76.01B2016 | $102.33B2025 | +3.4%/yr | |
| Shareholders’ equity | $14.20B2016 | $16.77B2025 | +1.9%/yr | |
| Cash & short-term investments | $9.32B2016 | $17.32B2025 | +7.1%/yr | |
| Total debt | $20.15B2016 | $15.18B2025 | −3.1%/yr | |
| Net cash (debt) | −$10.83B2016 | $2.14B2025 | +$13.0B | |
| Working capital | $5.51B2016 | −$63.82B2025 | −$69.3B | |
| Book value per share | $17.072016 | $46.852025 | +11.9%/yr | |
| Current ratio | 2.452016 | 0.212025 | −2.23 | |
| Debt / equity | 1.422016 | 0.912025 | −0.51 | |
| Shares outstanding | 831.5M2016 | 357.8M2025 | −8.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SYF assets
SYF liabilities and equity
SYF debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SYF balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $17.32B | $17.79B | $14.26B | $10.21B | $13.62B | $18.99B | $12.15B | $15.46B | $11.60B | $9.32B |
| Cash & equivalents | $14.97B | $14.71B | $14.26B | $10.29B | $8.34B | $11.52B | $12.15B | $9.40B | $11.60B | $9.32B |
| Short-term investments | $2.35B | $3.08B | $3.80B | $4.88B | $5.28B | $7.47B | $5.91B | $6.06B | $4.47B | $5.09B |
| Receivables | $0 | $93.79B | $92.42B | $3.0M | $72.05B | $71.60B | $81.61B | $86.71B | $76.37B | $71.99B |
| Inventory | $0 | $0 | $14.26B | $10.29B | −$63.72B | −$60.08B | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $17.32B | $17.79B | $106.68B | $10.22B | $13.62B | $18.99B | $12.15B | $15.46B | $11.60B | $9.32B |
| Property, plant & equipment (net) | $0 | $0 | −$117.48B | −$104.56B | −$95.75B | −$95.95B | −$104.83B | $0 | $0 | $0 |
| Goodwill & intangible assets | $2.62B | $2.13B | $1.83B | $2.39B | $2.27B | $2.20B | $2.34B | $2.16B | $1.74B | $1.66B |
| Long-term investments | $2.35B | $3.08B | $3.80B | $4.88B | $5.28B | $7.47B | $82.34B | $86.71B | $76.37B | $71.99B |
| Other non-current assets | $96.81B | $96.47B | $122.65B | $191.64B | $170.32B | $163.23B | $112.82B | $2.46B | $6.09B | $7.23B |
| Total assets | $119.09B | $119.46B | $117.48B | $104.56B | $95.75B | $95.95B | $104.83B | $106.79B | $95.81B | $90.21B |
| Liabilities | ||||||||||
| Accounts payable | — | — | $31.0M | $5.76B | $62.27B | $4.69B | $4.72B | $4.10B | $4.29B | $3.81B |
| Short-term debt | — | $5.65B | $4.22B | $7.32B | $500.0M | $4.83B | $4.21B | — | $20.80B | $20.15B |
| Deferred revenue | — | — | $1.90B | — | — | — | — | — | — | — |
| Total current liabilities | $81.14B | $82.06B | $4.22B | $7.34B | $5.09B | $4.46B | $4.51B | $68.12B | $4.09B | $3.81B |
| Long-term debt | $15.18B | $15.46B | $15.98B | $14.19B | $14.51B | $15.78B | $19.87B | $24.00B | $20.80B | $20.15B |
| Other long-term liabilities | $6.00B | $5.36B | $0 | $57.88B | $0 | $0 | $65.36B | $0 | $56.69B | $52.05B |
| Total liabilities | $102.33B | $102.88B | $103.58B | $91.69B | $82.09B | $83.25B | $89.74B | $92.11B | $81.57B | $76.01B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M |
| Retained earnings (deficit) | $24.60B | $21.64B | $18.66B | $16.72B | $14.24B | $10.62B | $12.12B | $8.99B | $6.81B | $5.33B |
| Treasury stock | — | — | — | −$14.17B | −$10.93B | −$8.17B | −$7.24B | −$3.73B | −$1.96B | −$475.0M |
| Accumulated other comprehensive income | −$48.0M | −$59.0M | −$68.0M | −$125.0M | −$69.0M | −$51.0M | −$58.0M | −$62.0M | −$64.0M | −$53.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $16.77B | $16.58B | $13.90B | $12.87B | $13.65B | $12.70B | $15.09B | $14.68B | $14.23B | $14.20B |
| Key figures | ||||||||||
| Total debt | $15.18B | $15.46B | $15.98B | $21.51B | $15.01B | $20.60B | $24.07B | $24.00B | $20.80B | $20.15B |
| Net cash (debt) | $2.14B | $2.33B | −$1.72B | −$11.29B | −$1.39B | −$1.61B | −$11.93B | −$8.54B | −$9.20B | −$10.83B |
| Working capital | −$63.82B | −$64.27B | $102.45B | $2.88B | $8.53B | $14.54B | $7.64B | −$52.66B | $7.52B | $5.51B |
| Tangible book value | $14.15B | $14.45B | $12.07B | $10.48B | $11.38B | $10.50B | $12.74B | $12.52B | $12.49B | $12.54B |
| Book value per share | $46.85 | $41.39 | $34.17 | $26.63 | $25.92 | $21.75 | $22.40 | $19.65 | $17.80 | $17.07 |
| Shares outstanding | 357.8M | 400.6M | 406.9M | 483.4M | 526.8M | 584.0M | 673.5M | 746.9M | 799.7M | 831.5M |
| Current ratio | 0.21 | 0.22 | 25.25 | 1.39 | 2.68 | 4.26 | 2.69 | 0.23 | 2.84 | 2.45 |
| Quick ratio | 0.21 | 1.36 | 25.25 | 1.39 | 16.84 | 20.33 | 20.80 | 1.50 | 21.53 | 21.35 |
| Debt / equity | 0.91 | 0.93 | 1.15 | 1.67 | 1.10 | 1.62 | 1.60 | 1.63 | 1.46 | 1.42 |
| Equity / assets | 14.1% | 13.9% | 11.8% | 12.3% | 14.3% | 13.2% | 14.4% | 13.7% | 14.9% | 15.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $16.19B | $20.56B | $17.32B | $18.96B | $22.36B | $24.35B | $17.79B | $20.28B | $21.32B | $23.03B | $18.06B | $15.64B |
| Cash & equivalents | $16.19B | $20.56B | $14.97B | $16.25B | $19.46B | $21.63B | $14.71B | $17.93B | $18.63B | $20.02B | $14.26B | $15.64B |
| Short-term investments | $4.37B | $3.04B | $2.35B | $2.72B | $2.90B | $2.72B | $3.08B | $2.35B | $2.69B | $3.00B | $3.80B | $2.88B |
| Receivables | $91.90B | $89.66B | $0 | $89.81B | $0 | $88.78B | $0 | $91.16B | $91.30B | $90.83B | $92.42B | $87.70B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17.93B | $18.63B | −$70.81B | −$78.16B | $15.64B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $16.19B | $110.22B | $17.32B | $18.96B | $22.36B | $24.35B | $17.79B | $20.28B | $21.32B | $23.03B | $18.06B | $103.34B |
| Property, plant & equipment (net) | $1.22B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $1.51B | $2.59B | $2.62B | $2.18B | $2.14B | $2.12B | $2.13B | $2.04B | $2.05B | $1.87B | $1.83B | $2.27B |
| Long-term investments | $5.21B | $3.04B | $2.35B | $2.72B | $2.90B | $2.72B | $3.08B | $2.35B | $2.69B | $3.00B | $3.80B | $2.88B |
| Other non-current assets | $97.80B | $5.66B | $96.81B | $93.12B | $93.10B | $92.83B | $96.47B | $94.57B | $94.42B | $93.27B | $93.79B | $4.44B |
| Total assets | $121.93B | $121.50B | $119.09B | $116.98B | $120.50B | $122.03B | $119.46B | $119.23B | $120.49B | $121.17B | $117.48B | $112.94B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | $1.52B | $31.0M | $78.07B |
| Short-term debt | $4.35B | — | — | — | $2.58B | — | — | $175.0M | $1.98B | $2.88B | $4.22B | — |
| Deferred revenue | — | — | — | — | — | — | — | — | — | $1.80B | $1.90B | $1.90B |
| Total current liabilities | $4.35B | $82.89B | $81.14B | $79.89B | $82.26B | $83.44B | $82.06B | $82.28B | $83.10B | $83.55B | $4.22B | $3.98B |
| Long-term debt | $16.43B | $16.43B | $15.18B | $14.43B | $16.01B | $17.01B | $15.46B | $15.63B | $15.64B | $16.13B | $15.98B | $15.23B |
| Other long-term liabilities | $84.25B | $5.70B | $6.00B | $5.60B | $5.28B | $5.00B | $5.36B | $5.33B | $6.21B | $6.20B | $0 | $0 |
| Total liabilities | $105.03B | $105.02B | $102.33B | $99.92B | $103.55B | $105.44B | $102.88B | $103.25B | $104.95B | $105.89B | $103.58B | $99.17B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M | $1.0M |
| Retained earnings (deficit) | $25.97B | $25.21B | $24.60B | $23.98B | $23.04B | $22.21B | $21.64B | $20.98B | $20.31B | $19.79B | $18.66B | $18.34B |
| Accumulated other comprehensive income | −$71.0M | −$56.0M | −$48.0M | −$46.0M | −$45.0M | −$53.0M | −$59.0M | −$50.0M | −$73.0M | −$69.0M | −$68.0M | −$96.0M |
| Total shareholders' equity | $16.90B | $16.48B | $16.77B | $17.07B | $16.95B | $16.58B | $16.58B | $15.98B | $15.54B | $15.28B | $13.90B | $13.77B |
| Key figures | ||||||||||||
| Total debt | $16.43B | $16.43B | $15.18B | $14.43B | $16.01B | $17.01B | $15.46B | $15.63B | $15.64B | $16.13B | $15.98B | $15.23B |
| Net cash (debt) | −$239.0M | $4.13B | $2.14B | $4.53B | $6.35B | $7.34B | $2.33B | $4.65B | $5.69B | $6.89B | $2.08B | $412.0M |
| Working capital | $11.84B | $27.32B | −$63.82B | −$60.92B | −$59.90B | −$59.08B | −$64.27B | −$62.01B | −$61.77B | −$60.53B | $13.83B | $99.36B |
| Tangible book value | $15.38B | $13.89B | $14.15B | $14.88B | $14.82B | $14.46B | $14.45B | $13.94B | $13.49B | $13.41B | $12.07B | $11.49B |
| Book value per share | $50.57 | $47.62 | $46.85 | $44.98 | $44.72 | $42.58 | $42.00 | $40.30 | $38.60 | $37.44 | $34.17 | $33.27 |
| Shares outstanding | 334.1M | 346.0M | 357.8M | 379.4M | 379.1M | 389.4M | 394.8M | 396.5M | 402.6M | 408.2M | 406.9M | 413.8M |
| Current ratio | 3.72 | 1.33 | 0.21 | 0.24 | 0.27 | 0.29 | 0.22 | 0.25 | 0.26 | 0.28 | 4.27 | 26.00 |
| Quick ratio | 24.85 | 1.33 | 0.21 | 1.36 | 0.27 | 1.36 | 0.22 | 1.35 | 1.36 | 1.36 | 26.15 | 26.00 |
| Debt / equity | 0.97 | 1.00 | 0.91 | 0.85 | 0.94 | 1.03 | 0.93 | 0.98 | 1.01 | 1.06 | 1.15 | 1.11 |
| Equity / assets | 13.9% | 13.6% | 14.1% | 14.6% | 14.1% | 13.6% | 13.9% | 13.4% | 12.9% | 12.6% | 11.8% | 12.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 6, 2026); data from EODHD.
SYF financial position
At the end of fiscal 2025 (December 31, 2025), Synchrony had total assets of $119.1 billion (down 0.3% from a year earlier), total liabilities of $102.3 billion and shareholders' equity of $16.8 billion. It held $17.3 billion in cash and short-term investments against $15.2 billion of debt, a net cash position of $2.1 billion. Its current ratio was 0.21. In the latest quarter (ended June 30, 2026) total assets were $121.9 billion and equity $16.9 billion.
Related: SYF income statement, SYF cash flow statement, SYF key metrics. See the SYF stock overview for the latest quote and news.
SYF balance sheet FAQ
What are Synchrony's total assets?
Synchrony reported total assets of $119.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $119.5 billion a year earlier.
How much debt does Synchrony have?
Synchrony had $15.2 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.91.
How much cash does Synchrony have?
Synchrony held $17.3 billion in cash and short-term investments at the end of fiscal 2025; with $15.2 billion of debt that is net cash of $2.1 billion.
What is Synchrony's book value?
Synchrony's shareholders' equity (book value) was $16.8 billion at the end of fiscal 2025, or $46.85 per share.
What is Synchrony's current ratio?
Synchrony had current assets of $17.3 billion and current liabilities of $81.1 billion, a current ratio of 0.21 (current liabilities exceed current assets).
How much goodwill does Synchrony have?
Synchrony carried $2.6 billion of goodwill and intangible assets, 2.2% of total assets, at the end of fiscal 2025.