SLM Corporation

SLMBP

Financial - Credit Services · Financial Services

Price

$74.90

-0.10 (-0.13%)

Market Cap

$6.72B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Strong

Stability

Weak

Valuation

Good

Dividends

Weak

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Share count falling — buybacks

−35.2% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 319.9M (2021) → 207.2M (2025)

Winston Score History

The full picture

SLM Corporation, commonly known as Sallie Mae, is one of the largest private student loan companies in the United States. It lends money to college students and their families to help pay for tuition, housing, and other education costs. Sallie Mae focuses entirely on private student loans, meaning it operates separately from the federal government's student loan programs.

Sallie Mae makes money primarily by charging interest on the loans it issues to borrowers. It operates almost entirely within the United States and had roughly $21 billion in its loan portfolio in recent periods. Its competitive position comes from its long history and brand recognition in the education lending space, though it faces risk from rising loan defaults if the job market weakens and graduates struggle to repay their debt. The ongoing political debate around student loan forgiveness and potential regulatory changes to higher education financing remain key risks that could affect demand for private student loans going forward.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-1.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-9.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

1.3%ownership

Relatively low insider ownership

Cash Runway

5+ years

$6.5B cash & investments at current burn rate

Revenue declining

SLM Corporation's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

41.1%

Healthy — 41.1% gross margin

Profit after running costs

Operating Margin

12.0%

Healthy — 12.0% operating margin

Return on the money invested

ROCE

11.8%

Below par — 11.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+5.4%

Slow sales growth (+5.4% YoY)

Profit growth

EPS YoY

+78.3%

Earnings growing fast (+78.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

88%

Modest — 88% of profit becomes cash

Spare cash per sale

FCF Margin

21.2%

Converts sales into free cash efficiently (21.2%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

2.36

Heavy debt load (2.36)

Covers its interest

Interest Cover

1.37x

Dangerous — barely covers interest (1.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

7.3x

Attractive valuation — P/E 7.3

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

-16.6

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend

Dividend Yield

1.87%

Small dividend — 1.87% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-10.7%

Dividend cut (-10.7% YoY) — warning sign

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