NAVIENT CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NAVIENT CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue			359	391	388	507	332	321	271
Operating expenses	951	966	984	984	964	1,207	776	800	680	421
Interest expense	2,441	2,971	3,668	3,488	2,046	1,316	2,102	3,557
Pre-tax income	1,108	764	528	763	532	936	827	313	174	-111
Income tax	427	472	133	166	120	219	182	85	43	-31
Net income to minority interests	0
Net income	681	292	395	597	412	717	645	228	131	-80
EPS, basic	2.15	1.06	1.52	2.59	2.14	4.23	4.54	1.87	1.20	-0.81
EPS, diluted	2.12	1.04	1.49	2.56	2.12	4.18	4.49	1.85	1.18	-0.81
Shares, basic (weighted)	316	275	260	230	193	170	142	122	109	99
Shares, diluted (weighted)	322	281	264	233	195	172	144	123	111	99
Dividend per share	0.64	0.64	0.64	0.64	0.64	0.64	0.64	0.64	0.64	0.64

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	1,253	1,518	1,286	1,233	1,183	905	1,535	839	722	637
Property, plant and equipment	160	156	136	135	116	95	74	62	52	23
Goodwill	545	701	665	665	665	671	670	670	428	428
Intangible assets	124	108	121	92	70	55	35	25	9	6
Total assets	121,136	114,991	104,176	94,903	87,412	80,605	70,795	61,375	51,789	48,681
Short-term debt	2,334	4,771	5,422	8,483	6,613	2,490	5,870	4,226	5,134	5,073
Total liabilities	117,413	111,506	100,629	91,554	84,965	77,997	67,818	58,615	49,148	46,282
Total debt	112,368	105,012	93,519	81,715	77,332	74,488	61,026	53,402	43,184	40,633
Paid-in capital	3,022	3,077	3,145	3,198	3,226	3,282	3,313	3,353	3,380	3,403
Retained earnings	2,890	3,004	3,218	3,664	3,331	3,939	4,490	4,638	4,697	4,552
Treasury stock	-2,223	-2,692	-2,961	-3,439	-3,854	-4,495	-4,917	-5,254	-5,443	-5,562
Other comprehensive income	6	61	113	-91	-274	-133	87	19	3	2
Shareholders' equity	3,699	3,454	3,519	3,336	2,433	2,597	2,977	2,760	2,641	2,399
Minority interests	24	31	28	13	14	11	0
Total equity	3,723	3,485	3,547	3,349	2,447	2,608	2,977	2,760	2,641	2,399
Total liabilities and equity	121,136	114,991	104,176	94,903	87,412	80,605	70,795	61,375	51,789	48,681

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	681	292	395	597	412	717	645	228	131	-80
Stock-based compensation	26	35	25	25	18	22	19	24	23	21
Deferred income tax	133	395	46	77	9	53	208	-2	6	2
Cash from operations	1,347	1,158	1,140	1,019	987	702	305	676	459	441
Acquisitions		-216				-16	0	0
Cash from investing	11,282	7,118	10,360	7,485	6,448	6,673	10,585	7,357	8,466	2,712
Debt issued	1,231	1,613	495
Debt repaid	-2,603	-1,464	-2,947	-1,950
Share buybacks	-755	-440	-220	-440	-400	-600	-400	-310	-179	-111
Dividends paid	-201	-176	-166	-147	-123	-107	-91	-78	-70	-63
Cash from financing	-13,103	-8,342	-10,884	-9,985	-7,679	-7,334	-9,661	-10,047	-9,615	-3,152
Net change in cash	-474	-66	616	-1,481	-244	41	1,229	-2,014	-690	1
Interest paid	2,301	2,872	3,460	3,479	2,059	1,378	1,904	3,431	3,238	2,563
Income taxes paid	249	157	57	93	74	190	30	57	38	19

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $17.30 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	-2.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-0.1%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	-161.1%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-168.6%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-3.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	13.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-14.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	0.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-9.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-6.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-0.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-6.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-11.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-11.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-10.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-11.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-12.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	16.7x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	84.8%	Total debt / total assets.
Liabilities / assets	94.9%	Total liabilities / total assets.
Net debt	$39.35B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	0.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.97B	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.53	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	$3.58	Cash from operations / diluted weighted shares.
Book value per share	$25.24	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$20.74	Tangible book value / shares outstanding.
Cash per share	$8.11	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.72B	Share price x shares outstanding.
Enterprise value	$41.07B	Market cap + total debt - cash - short-term investments.
P/B	0.72x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.87x	Market cap / tangible book value, when positive.
P/OCF	5.06x	Market cap / cash from operations, when positive.
Earnings yield	-2.9%	Net income / market cap (the inverse of P/E).
Dividend yield	3.5%	Dividends paid over the period / market cap.
Shareholder yield	8.1%	(Dividends paid + share buybacks) / market cap.

Was NAVIENT CORP profitable in fiscal 2025?

No. It reported a net loss of $80.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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