SLM
SLM Corp
Next earnings Jul 22, 2026 (after close) · consensus $0.47 EPS, $374M rev
$25.60
▼ -1.95%$25.60▼ -20.66%
over 1Y
L $18.50H $33.68
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-2.0%
1W+4.0%
1M+16.8%
3M+19.0%
YTD-5.4%
1Y-20.7%
Buy
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 15 analysts
Buy
Cheap at 6.9x earnings with 30% ROE, shrinking share count, and H.R.1 federal-loan caps set to funnel demand to SLM's private book.
P/E (trailing) 6.9x · FY2025 EPS $3.46 vs price $23.84
The read
Quality fundamentals and an attractive price line up (~414% below fair value) — the rarer case where both the business and the entry look good.
SLM is the dominant private student lender trading like a melting ice cube while the fundamentals are quietly compounding. FY2025 net income grew 22.4% to $745M and diluted EPS jumped 29.1% to $3.46 — the EPS outpacing net income because management retired 5.8% of the share count via $369M of buybacks (up 48.7% YoY). At $23.84 the stock trades at just 6.9x trailing earnings against a 30.4% return on equity, a combination that is hard to find anywhere in financials.
The MD&A delivers a genuine catalyst: H.R.1, enacted July 4, 2025, caps Parent PLUS loans at $20,000/year ($65,000 lifetime), eliminates Graduate PLUS loans entirely, and imposes $100,000–$200,000 lifetime caps on graduate Stafford borrowing, all effective July 1, 2026. Management explicitly states these changes 'will present opportunities for a gradual and positive impact on our overall Private Student Loan originations volume,' and they are pre-investing in 'origination expansion' and 'strategic partnership funding model.' This is a structural tailwind for the core book starting in the upcoming academic year.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 25, 2026, 8:50 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $1.16B | $469M | $581M | $608M | $745M |
| Diluted EPS | $3.61 | $1.76 | $2.41 | $2.68 | $3.46 |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)0.33
Earnings yield15.4%
FCF yield—
Quality & risk
ROIC (est.)—
Free cash flow—
Total debt$5.86B
Net cash-$1.62B
Piotroski F-Score4/6
Capital returns
Buyback yield7.6%
Dividend yield (est.)2.2%
Shareholder yield9.9%
Shares Δ YoY-5.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-06-18
Annual meeting vote results disclosed; routine director/auditor ratification.
- 8-K Reg FD disclosure2026-06-10
Reg FD disclosure with exhibits—likely investor presentation or update.
- 8-K Material agreement2026-05-15
Entered material agreement (likely loan sale/strategic partner) supporting capital-light model.
- 8-K Reg FD disclosure2026-05-06
Reg FD press release—likely 2025-A ABS pricing/closing follow-up disclosure.
- 8-K Reg FD disclosure2026-05-05
Reg FD press release with exhibit—routine investor communication.
- 8-K Officer / director change2026-04-27
Proxy: director slate, say-on-pay, auditor ratification—routine governance.
- DEF 14A Proxy statement2026-04-27
Proxy: director slate, say-on-pay, auditor ratification—routine governance.
- 10-Q Quarterly report2026-04-23
Q1'26 results extend FY25 EPS/buyback momentum; continued capital return.
- 10-K Annual report2026-02-19
FY25 NI $745M (+22%), EPS $3.46 (+29%); H.R.1 seen as tailwind for private originations.
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗4Period ending 2026-06-162026-06-18open ↗
Frequently asked
- Is SLM Corp (SLM) a buy?
- SLM currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Cheap at 6.9x earnings with 30% ROE, shrinking share count, and H.R.1 federal-loan caps set to funnel demand to SLM's private book.
- What is SLM's fair value?
- A Modified-Graham model based on SLM's SEC fundamentals estimates a fair value of about $131.48. It is an estimate from reported earnings, not a price target.
- Is SLM overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, SLM currently appears undervalued relative to its SEC-grounded earnings power.
- What is SLM Corp's quality score?
- SLM scores 83.96725001094163/100 (grade A) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001032033, latest 10-Q filed 2026-04-23) · EODHD · Proprietary analysis · as of 6/25/2026, 12:50:46 PM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.