SLMSLM Corp
Personal Credit Institutions
- Revenue
- —
- Operating margin
- —
- EBITDA
- —
- Market cap
- $7.5B
- Employees
- 1,788
- Net debt / EBITDA
- —
- $4.3B net debt
- AI in 10-K
- 2.4
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 1 of 7
- TSR below peersNo1 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$9M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes-54% of net incomeCash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo-120% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo0% of assetsOver 40% of assets
- Shareholder dissentNo99% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo2.4 per 10K words · 61st pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$7.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Net income | $1.2B | $469M | $581M | $608M | $745M | 22% |
| Operating cash flow | −$50M | $5M | −$145M | −$329M | −$399M | 21% |
| Stock-based comp | $31M | $34M | $36M | $40M | $41M | 1.4% |
| Buybacks | $1.5B | $713M | $350M | $248M | $369M | 49% |
| Dividends | $60M | $113M | $101M | $99M | $108M | 8.6% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| May 9, 2025 | Impactive Capital LP | SCHEDULE 13D/A | 4.4% | Passive |
| Jan 28, 2025 | Impactive Capital LP | SCHEDULE 13D/A | 5.4% | Passive |
| Nov 27, 2024 | Impactive Capital LP | SC 13D/A | 7.3% | Passive |
| Jun 5, 2023 | Impactive Capital LP | SC 13D/A | 8.3% | Passive |
| Aug 1, 2022 | Impactive Capital LP | SC 13D/A | 9.0% | Passive |
| May 3, 2022 | Impactive Capital LP | SC 13D/A | 6.8% | Passive |
| Mar 10, 2022 | Impactive Capital LP | SC 13D | 5.5% | Passive |
| Feb 14, 2022 | VA Partners I, LLC | SC 13D/A | 4.9% | Passive |
| Jul 6, 2021 | VA Partners I, LLC | SC 13D/A | 6.0% | Passive |
| May 11, 2021 | VA Partners I, LLC | SC 13D/A | 7.2% | Passive |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $11M | $8M | 242 | 279 |
| FY2024 | $12M | $25M | 243 | 213 |
| FY2023 | $9M | $14M | 165 | 141 |
| FY2022 | $8M | $3M | 139 | 110 |
| FY2021 | $7M | $20M | 161 | 137 |