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SLM (SLM) Q4 FY2021 earnings: revenue $520 million, up 41.5% on the year

SLM Corp. (SLM) reported revenue of $520 million for Q4 FY2021, the quarter ended 31 December 2021, up 41.5% on the same quarter a year earlier. Net income was $306 million, down 29.2% on the year, and diluted earnings per share $1.04. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.

Revenue$520 millionup 41.5%
Net income$306 milliondown 29.2%
Diluted EPS$1.04
QuarterQ4 FY2021ended 31 December 2021

The quarter, against the one before and a year earlier

LineQ4 FY2021Quarter beforeA year earlierChange on the year
Revenue520n/an/an/a
Operating income395n/an/an/a
Operating margin75.9%n/an/a
Interest expense91.1n/an/an/a
Pre-tax income410n/an/an/a
Income tax104n/an/an/a
Effective tax rate25.3%n/an/a
Net income306n/an/an/a
Net margin58.9%n/an/a
Diluted EPS$1.04n/an/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2021Quarter beforeA year earlierChange on the year
Operating cash flow45.6n/an/an/a
Cash from investing1,423n/an/an/a
Cash from financing184n/an/an/a
Depreciation and amortisation4.6n/an/an/a
Share-based compensation6.4n/an/an/a
Buybacks254n/an/an/a
Dividends paid31.4n/an/an/a
Dividend per share$0.11n/an/an/a
Diluted shares, weighted320mn/an/an/a
Shares outstanding at period end279mn/an/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2021Quarter beforeA year earlierChange on the year
Shareholders' equity2,150n/an/an/a
Deposits20,828n/an/an/a
Debt5,931n/an/an/a
Other liabilities313n/an/an/a
Total liabilities and equity29,222n/an/an/a
Fixed assets151n/an/an/a
Securities held for sale or to maturity2,518n/an/an/a
Loans20,341n/an/an/a
Cash and equivalents4,335n/an/an/a
Other assets1,878n/an/an/a
Total assets29,222n/an/an/a

Questions

What was SLM's revenue in Q4 FY2021?

SLM (SLM) reported revenue of $520 million for Q4 FY2021, the quarter ended 31 December 2021, up 41.5% on the same quarter a year earlier.

How much did SLM earn in Q4 FY2021?

Net income for Q4 FY2021 was $306 million, down 29.2% on the year, and diluted earnings per share $1.04.

When did SLM report Q4 FY2021 results?

SLM filed its 10-K for the year that ended with the quarter on 24 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue520397621465341427531409443561514384390581404546454560401375
Operating income395265489n/an/a272377241300n/an/an/an/an/an/an/an/an/an/an/a
Operating margin76%67%79%n/an/a64%71%59%68%n/an/an/an/an/an/an/an/an/an/an/a
Interest expense91.190.0100150202233247268283277n/an/an/an/an/an/an/an/an/an/a
Pre-tax income410166456105-96.515635740.6225387339-59.613240387.618631640080.5-58.9
Tax rate25%22%25%28%n/a24%26%28%25%25%26%n/a16%24%19%27%26%23%27%n/a
Net income30612934275.2-77.011926529.4168290252-45.211230571.313623330858.5-32.3
Net margin59%32%55%16%-23%28%50%7%38%52%49%-12%29%52%18%25%51%55%15%-9%
Diluted EPS$1.04$0.45$1.29$0.29-$0.33$0.47$1.10$0.11$0.72$1.27$1.11-$0.23$0.50$1.40$0.32$0.63$1.12$1.54$0.29-$0.19
Operating cash flow45.662.8-60.33.4-0.98.9-67.0-59.4-27.1-76.7-144-1134.5-146-139-49.3-64.5-76.0-135-106
Buybacks25416937610.11584.02550.090.925.561.011447.129.771.71441242913.1128
Dividends paid31.430.528.127.626.726.625.324.924.424.324.023.527.327.527.226.926.225.624.524.0
Shares outstanding279m271m251m250m241m242m226m226m220m220m217m212m210m211m208m203m198m189m188m183m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2021, filed 24 February 2022: the filing.