SLM Corporation (SLM) Key Metrics
SLM valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $4.10B
- Enterprise value
- $5.55B
- P/E (TTM)
- 6.1 10-yr median 7.7
- Forward P/E
- 6.9
- PEG ratio
- 0.58
- Price / sales
- 2.4 10-yr median 2.0
- Price / book
- 2.0 10-yr median 2.0
- EV / EBITDA
- — 10-yr median 7.1
- Dividend yield
- 2.38% $0.52 a year
- Beta
- 0.98
SLM key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSLM valuation Price multiples at each fiscal year-end price.
SLM returns How much profit the business earns on the capital it uses.
SLM per-share figures Results divided by the shares outstanding at year-end.
SLM financial health Debt, liquidity and how easily interest is covered.
SLM efficiency & capital use Working capital cycle and where the cash goes.
SLM valuation history
SLM returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SLM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SLM cash returned to shareholders
SLM price vs earnings per share
SLM key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $5.61B | $6.07B | $4.48B | $4.34B | $6.29B | $4.80B | $3.84B | $3.65B | $4.96B | $4.77B |
| Enterprise value | $7.18B | $5.82B | $3.14B | $4.90B | $5.37B | $3.53B | $2.43B | $24.15B | $21.96B | $18.25B |
| P/E ratio | 7.5 | 10.0 | 7.9 | 9.3 | 5.4 | 5.4 | 6.6 | 7.5 | 17.2 | 19.1 |
| Price / sales | 1.8 | 2.0 | 2.5 | 1.8 | 2.6 | 2.0 | 1.6 | 1.9 | 3.5 | 4.2 |
| Price / book | 2.3 | 2.8 | 2.4 | 2.5 | 0.3 | 0.2 | 1.2 | 1.2 | 2.0 | 2.0 |
| Price / free cash flow | 9.7 | — | — | 869.6 | — | 2.2 | — | — | — | — |
| Price / operating cash flow | 9.7 | — | — | 869.6 | — | — | — | — | — | — |
| EV / sales | 2.3 | 1.9 | 1.7 | 2.1 | 2.2 | 1.5 | 1.0 | 12.8 | 15.3 | 15.9 |
| EV / EBITDA | 7.1 | 7.1 | 2.2 | 7.5 | 3.5 | 3.0 | 3.2 | 42.1 | 43.7 | 42.9 |
| EV / free cash flow | 12.5 | — | — | 982.4 | — | 1.6 | — | — | — | — |
| Earnings yield | 13.3% | 10.0% | 12.6% | 10.8% | 18.4% | 18.4% | 15.1% | 13.3% | 5.8% | 5.2% |
| Free cash flow yield | 10.3% | −5.4% | −3.2% | 0.1% | −0.8% | 44.8% | −0.4% | −2.8% | −3.4% | −4.2% |
| Dividend yield | 12.5% | 1.9% | 2.7% | 2.8% | 1.0% | 1.2% | 1.8% | 0.4% | 0.3% | 0.4% |
| Shareholder yield (dividends + buybacks) | 19.1% | 6.0% | 10.5% | 19.2% | 25.4% | 14.2% | 6.1% | 0.4% | 3.6% | 0.4% |
| Share price at fiscal year-end | $27.06 | $27.58 | $19.12 | $16.60 | $19.67 | $12.39 | $8.91 | $8.31 | $11.30 | $11.02 |
| Per share | ||||||||||
| Revenue per share | $15.01 | $13.58 | $7.73 | $9.05 | $7.53 | $6.05 | $5.53 | $4.28 | $3.27 | $2.65 |
| Earnings per share | $3.60 | $2.77 | $2.41 | $1.79 | $3.63 | $2.27 | $1.34 | $1.11 | $0.66 | $0.58 |
| Operating cash flow per share | $2.78 | −$1.50 | −$0.62 | $0.02 | −$0.15 | −$0.47 | −$0.04 | −$0.23 | −$0.38 | −$0.46 |
| Free cash flow per share | $2.78 | −$1.50 | −$0.62 | $0.02 | −$0.15 | $5.55 | −$0.04 | −$0.23 | −$0.38 | −$0.46 |
| Cash per share | $20.71 | $30.40 | $28.03 | $17.87 | $21.42 | $16.66 | $14.05 | $6.22 | $4.06 | $4.91 |
| Book value per share | $11.83 | $9.82 | $8.04 | $6.60 | $72.80 | $66.07 | $7.69 | $6.76 | $5.64 | $5.42 |
| Tangible book value per share | $11.54 | $9.53 | $7.74 | $5.96 | $72.80 | $66.07 | $7.69 | $6.76 | $5.64 | $5.42 |
| Dividends per share | $3.38 | $0.53 | $0.51 | $0.47 | $0.20 | $0.14 | $0.16 | $0.04 | $0.04 | $0.05 |
| Capex per share | $0.00 | $0.00 | $0.89 | $0.00 | $0.00 | $6.02 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $28.29 | $29.28 | $22.33 | $20.02 | $18.54 | $13.40 | $10.78 | $52.83 | $42.82 | $36.04 |
| Shares outstanding | 207.2M | 219.9M | 234.1M | 261.5M | 319.9M | 387.2M | 430.7M | 439.7M | 438.6M | 432.9M |
| Change in shares outstanding | −5.8% | −6.0% | −10.5% | −18.3% | −17.4% | −10.1% | −2.0% | +0.3% | +1.3% | +0.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 32.3% | 30.1% | 31.2% | 3.7% | 4.7% | 6.1% | 18.4% | 17.9% | 12.0% | 11.3% |
| Return on invested capital (ROIC) | 25.1% | 49.5% | 73.7% | 3.8% | 5.0% | 6.7% | 4.6% | 2.3% | 1.6% | 3.1% |
| Return on assets (ROA) | 2.5% | 2.1% | 1.9% | 1.6% | 3.9% | 2.8% | 1.9% | 2.0% | 1.4% | 1.5% |
| Return on tangible assets | 2.5% | 2.0% | 1.9% | 1.6% | 4.0% | 2.9% | 1.8% | 1.8% | 1.3% | 1.4% |
| Free cash flow margin | 18.5% | −11.0% | −8.0% | 0.2% | −2.1% | 91.7% | −0.7% | −5.5% | −11.6% | −17.5% |
| Income quality (OCF / net income) | 0.77 | −0.54 | −0.26 | 0.01 | −0.04 | −0.21 | −0.03 | −0.21 | −0.58 | −0.80 |
| Financial health | ||||||||||
| Total debt | $5.86B | $6.44B | $5.23B | $5.24B | $5.93B | $5.19B | $4.64B | $23.23B | $18.78B | $15.60B |
| Cash & short-term investments | $4.29B | $6.69B | $6.56B | $4.67B | $6.85B | $6.45B | $6.05B | $2.74B | $1.78B | $2.13B |
| Net debt | $1.57B | −$246.5M | −$1.33B | $563.1M | −$921.6M | −$1.26B | −$1.41B | $20.49B | $17.00B | $13.48B |
| Debt / equity | 2.39 | 2.98 | 2.78 | 3.03 | 0.25 | 0.20 | 1.40 | 7.81 | 7.59 | 6.65 |
| Debt / assets | 0.20 | 0.21 | 0.18 | 0.18 | 0.20 | 0.17 | 0.14 | 0.87 | 0.86 | 0.84 |
| Net debt / EBITDA | 1.56 | −0.30 | −0.95 | 0.86 | −0.59 | −1.08 | −1.86 | 35.75 | 33.83 | 31.71 |
| Current ratio | 0.28 | 0.40 | 0.38 | 0.19 | 0.25 | 0.25 | 0.31 | 0.13 | 0.01 | 0.00 |
| Quick ratio | 0.28 | 0.40 | 0.19 | −0.00 | 0.07 | 0.05 | 0.01 | 0.13 | 0.01 | 0.00 |
| Interest coverage | 0.9 | 0.7 | 103.7 | 1.2 | 4.0 | 2.1 | 1.1 | 1.1 | 1.6 | 2.2 |
| Working capital | −$15.53B | −$12.66B | −$13.35B | −$26.07B | −$24.70B | −$25.16B | −$17.21B | −$16.82B | −$15.93B | −$13.96B |
| Invested capital | $4.02B | $1.91B | $546.8M | $2.29B | $22.37B | $24.32B | $1.90B | $23.46B | $19.48B | $15.82B |
| Tangible asset value | $2.39B | $2.10B | $1.81B | $1.56B | $23.29B | $25.58B | $3.31B | $2.97B | $2.47B | $2.35B |
| Net current asset value | −$21.26B | −$19.50B | −$18.98B | −$20.83B | $2.37B | $3.04B | −$21.81B | −$21.11B | −$19.20B | −$16.13B |
| Graham number | $30.94 | $24.72 | $20.87 | $16.32 | $77.09 | $58.15 | $15.24 | $12.99 | $9.15 | $8.40 |
| Graham net-net per share | −$105.39 | −$91.23 | −$74.09 | −$68.99 | $15.68 | $15.02 | −$43.07 | −$45.43 | −$38.02 | −$30.70 |
| Capital allocation | ||||||||||
| Dividends paid | $700.0M | $117.5M | $118.9M | $122.0M | $65.2M | $56.1M | $68.0M | $15.6M | $15.7M | $21.2M |
| Share buybacks (net) | $368.7M | $248.0M | $350.3M | $713.2M | $1.53B | $626.2M | $167.2M | $0 | $165.0M | $0 |
| Dividend payout ratio | 94.0% | 19.3% | 21.1% | 26.0% | 5.6% | 6.4% | 11.8% | 3.2% | 5.4% | 8.5% |
| Dividends + buybacks / free cash flow | 185.7% | — | — | — | — | 31.8% | — | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 11.5% | 0.0% | 0.0% | 99.5% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | 0.0% | — | — | 0.0% | — | — | — | — | — | — |
| Capex / depreciation | 0.00 | 0.00 | 2.47 | 0.00 | 0.00 | 154.68 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock-based compensation / revenue | 1.3% | 1.3% | 2.0% | 1.5% | 1.3% | 1.6% | 1.3% | 1.7% | 1.9% | 2.0% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 12.2% | 13.4% | 19.9% | 12.3% | 11.7% | 13.0% | 13.1% | 15.1% | 16.9% | 17.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 182.5 | 201.2 | 336.0 | 234.3 | 245.0 | 256.4 | 213.3 | 233.4 | 275.0 | 282.8 |
| Days of inventory on hand | — | — | 3,346.8 | 1,919.9 | 6,503.6 | 3,943.1 | 2,503.0 | — | — | — |
| Days payables outstanding | — | — | — | 6,559.3 | 22,736.2 | 13,497.8 | 7,428.6 | 4,530.8 | 105.9 | 185.5 |
| Cash conversion cycle (days) | — | — | — | -4,405.0 | -15,987.6 | -9,298.3 | -4,712.3 | -4,297.4 | 169.0 | 97.3 |
| Receivables turnover | 2.00 | 1.81 | 1.09 | 1.56 | 1.49 | 1.42 | 1.71 | 1.56 | 1.33 | 1.29 |
| Payables turnover | — | — | — | 0.06 | 0.02 | 0.03 | 0.05 | 0.08 | 3.45 | 1.97 |
| Inventory turnover | — | — | 0.11 | 0.19 | 0.06 | 0.09 | 0.15 | — | — | — |
| Asset turnover | 0.10 | 0.10 | 0.06 | 0.08 | 0.08 | 0.07 | 0.08 | 0.08 | 0.07 | 0.07 |
| Average receivables | $1.55B | $1.65B | $1.67B | $1.52B | $1.62B | $1.64B | $1.39B | $1.20B | $1.08B | $888.1M |
| Average payables | — | — | — | $21.14B | $21.75B | $23.48B | $21.61B | $9.52B | $143.3M | $175.5M |
| Average inventory | — | — | $5.26B | $6.19B | $6.22B | $6.86B | $7.28B | — | $0 | $0 |
| Intangibles / total assets | 0.2% | 0.2% | 0.2% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from SLM's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
SLM valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), SLM traded at 7.5 times earnings, against a 10-year median of 7.7. Based on the latest twelve months, the trailing P/E is 6.1 and the forward P/E is 6.9. SLM earned a return on equity of 32.3% and a return on invested capital of 25.1% in fiscal 2025. It ended the year with $5.9 billion of debt and $4.3 billion in cash and short-term investments, net debt of $1.6 billion. It returned $1.1 billion to shareholders: $700.0 million in dividends and $368.7 million in share buybacks, 186% of free cash flow. The share count fell 52.1% from 432.9M to 207.2M over 9 years.
See the SLM income statement, the SLM chart for price history, or the SLM stock overview for the latest quote and news.
SLM key metrics FAQ
What is SLM's P/E ratio?
SLM's trailing P/E ratio is 6.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 6.9. At the end of fiscal 2025 it was 7.5, compared with a 10-year median of 7.7.
What is SLM's EV/EBITDA?
SLM's enterprise value was 7.1 times EBITDA at the end of fiscal 2025 (enterprise value $7.2 billion, EBITDA $1.0 billion).
What is SLM's return on equity?
SLM's return on equity (ROE) was 32.3% in fiscal 2025: net income of $744.8 million on average shareholders' equity of $2.3 billion.
What is SLM's ROIC?
SLM's return on invested capital was 25.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does SLM have?
SLM had total debt of $5.9 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.39 and $1.6 billion of net debt (1.56 times EBITDA).
What is SLM's dividend yield?
SLM's forward dividend yield is 2.38%. SLM paid $700.0 million in dividends in fiscal 2025 ($3.38 per share), a payout ratio of 94.0%.
Does SLM buy back its shares?
Yes. SLM spent $368.7 million on net share repurchases in fiscal 2025 Shares outstanding changed −5.8% over the year, to 207.2M..
What is SLM's free cash flow yield?
SLM generated $575.5 million of free cash flow in fiscal 2025, a free cash flow yield of 10.3% on its market value at year-end ($5.6 billion).
What is SLM's current ratio?
SLM's current ratio was 0.28 at the end of fiscal 2025: current assets were 0.28 times current liabilities.