NAVIENT CORP

Listed Company

NAVICIK 0001593538NasdaqLarge AcceleratedSecurity Brokers, Dealers & Flotation CompaniesDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-80.00M

Total Assets

$48.68B

Equity

$2.40B

Shares Out

93.98M

Op. Cash Flow

$441.00M

Business

NAVIENT CORP provides technology-enabled education finance solutions focused on servicing, managing and optimizing student loan portfolios and related finance activities. The company offers federal guaranteed student loan servicing and ownership, private education loan origination and refinancing under branded platforms, loan servicing and asset recovery services, and previously provided business processing solutions prior to divestments. Navient operates through primary segments for federal education loans, consumer lending and residual corporate functions. It serves U.S. borrowers, institutional clients and government and healthcare customers through digital channels, servicers and contractual outsourcing relationships.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and investments	83	154	153	62	3
Total interest income	3,108	3,809	4,419	3,223	2,648
Total interest expense	2,589	3,273	3,557	2,102	—
Net interest income (loss)	519	536	862	1,121	1,332
Less: provisions for loan losses	280	113	123	79	−61
Net interest income (loss) after provisions for loan losses	239	423	739	1,042	1,393
Servicing revenue	51	54	64	77	168
Asset recovery and business processing revenue	23	271	321	336	539
Other income	47	30	21	32	30
Gain on sale of subsidiaries, net	0	191	0	0	—
Losses on debt repurchases	0	0	−8	0	−73
Gains (losses) on derivative and hedging activities, net	−30	70	11	171	64
Total other income (loss)	91	616	409	616	806
Salaries and benefits	149	316	401	444	569
Other operating expenses	272	364	399	332	638
Total operating expenses	421	680	800	776	1,207
Goodwill and acquired intangible asset impairment and amortization expense	3	146	10	19	30
Restructuring/other reorganization expenses	17	39	25	36	26
Total expenses	441	865	835	831	1,263
Income (loss) before income tax expense (benefit)	−111	174	313	827	936
Income tax expense (benefit)	−31	43	85	182	219
Net income (loss)	−80	131	228	645	717
Basic earnings (loss) per common share	−0.81	1.2	1.87	4.54	4.23
Average common shares outstanding	99	109	122	142	170
Diluted earnings (loss) per common share	−0.81	1.18	1.85	4.49	4.18
Average common and common equivalent shares outstanding	99	111	123	144	172
Dividends per common share	0.64	0.64	0.64	0.64	0.64

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans, net	43,592	46,568	54,827	62,250	72,812
Investments	166	143	146	167	267
Cash and cash equivalents	637	722	839	1,535	905
Restricted cash and cash equivalents	1,467	1,381	1,954	3,272	2,673
Goodwill and acquired intangible assets, net	434	437	695	705	725
Other assets	2,385	2,538	2,914	2,866	3,223
Total assets	48,681	51,789	61,375	70,795	80,605
Short-term borrowings	5,073	5,134	4,226	5,870	2,490
Long-term borrowings	40,633	43,184	53,402	61,026	74,488
Other liabilities	576	830	987	922	1,019
Total liabilities	46,282	49,148	58,615	67,818	77,997
Commitments and contingencies	—	—	—	—	—
Common stock, par value $0.01 per share; 1.125 billion shares authorized:467 million and 465 million shares issued, respectively	4	4	4	4	4
Additional paid-in capital	3,403	3,380	3,353	3,313	3,282
Accumulated other comprehensive income (net of tax expense of $1 and $1, respectively)	2	3	19	87	−133
Retained earnings	4,552	4,697	4,638	4,490	3,939
Total Navient Corporation stockholders equity before treasury stock	7,961	8,084	8,014	7,894	7,092
Less: Common stock held in treasury at cost: 371 million and 362 million shares, respectively	−5,562	−5,443	−5,254	−4,917	−4,495
Total equity	2,399	2,641	2,760	2,977	2,608
Total liabilities and equity	48,681	51,789	61,375	70,795	80,605

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	21	23	24	19	22
Mark-to-market (gains)/losses on derivative and hedging activities, net	124	25	147	−590	−433
(Increase) decrease in accrued interest receivable	76	348	−50	−147	47
Increase (decrease) in accrued interest payable	−3	−31	29	159	−55
Decrease in other assets	58	91	52	387	145
Increase (decrease) in other liabilities	−38	−196	105	−266	295
Total adjustments	521	328	448	−340	−15
Total net cash provided by operating activities	441	459	676	305	702
Education loans originated and acquired	−2,482	−1,387	−970	−2,051	−6,104
Principal payments on education loans	5,182	9,500	8,322	12,540	11,137
Other investing activities, net	−13	−6	5	96	68
Disposal of a subsidiaries, net of cash disposed of	25	359	0	0	—
Total net cash provided by investing activities	2,712	8,466	7,357	10,585	6,673
Borrowings collateralized by loans in trust - issued	2,162	1,106	1,357	2,243	7,973
Borrowings collateralized by loans in trust - repaid	−5,345	−9,770	−9,753	−12,581	−11,163
Long-term unsecured notes issued	495	0	989	0	1,237
Long-term unsecured notes repaid	−554	−507	−2,159	−15	−2,702
Other financing activities, net	88	−79	−101	89	197
Common stock repurchased	−111	−179	−310	−400	−600
Common dividends paid	−63	−70	−78	−91	−107
Total net cash used in financing activities	−3,152	−9,615	−10,047	−9,661	−7,334
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	1	−690	−2,014	1,229	41
Interest	2,563	3,238	3,431	1,904	1,378
Income taxes paid	26	38	57	—	—
Income taxes received	−7	−3	−5	−12	−11

Filings

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