📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

Shareholding

About

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States.

Key Ratios Snapshot

📊 Sector Averages

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding SLM

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	1.20M	$25.7M	0.04%	Mar 2026
Michael Burry Scion Asset Management	480.1K	$13.3M	0.96%	Sep 2025
Steve Cohen Point72 Asset Management	575.2K	$12.3M	0.02%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed → Stable 4 quarters analysed

Q2 2025

Mixed

'positive momentum', 'optimistic about the long term outlook', and provided specific figures (e.g., $686M originations, 84% cosigner rate, $1.8B loan sale pricing in line with expectations). They repeatedly emphasized disciplined execution and readiness for policy changes.

Q3 2025

Mixed

'pleased with year-to-date performance', and gave specific metrics (EPS $0.63, originations +6.4%, net charge-offs -13bps) without hedging.

Q4 2025

Mixed

'incredibly attractive opportunity', and provides specific numeric guidance for 2026 and beyond, including EPS acceleration targets. Pete Graham also describes the new authorization and credit metrics with precise adjustments.

Q1 2026 latest

Mixed

specific language: 'Our performance in the quarter was strong', 'Diluted EPS $1.54', 'originations up 5%', 'we are well positioned', 'we feel really good about these results'. Pete provided detailed numbers on loan sales, capital return, and credit metrics.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Management delivered a solid Q1 beat, raised full-year EPS guidance, and demonstrated capital flexibility by executing a large loan sale and aggressive buyback, which should enhance shareholder value. The reiterated conviction in the Grad PLUS growth opportunity and early signs of successful preparation (e.g., new grad products, strong school engagement) support a positive outlook. However, investors should watch expense trajectory during the investment phase (efficiency ratio rising to high 30s) and monitor competitive dynamics as more lenders enter the grad space. Credit performance remains in line, but the impact of loan sales on reported metrics requires careful tracking. Next quarter's peak-season origination volumes and update on the second partnership will be key catalysts.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Q1 2026 EPS $1.54, originations $2.9B up 5%, executed $3.3B loan sales.

Revenue & Profitability

Diluted EPS was $1.54 versus $1.40 in the prior-year quarter. Net interest income was $375 million, flat YoY. Net interest margin was 5.29%, up both sequentially and YoY. The company recorded an $11 million negative provision. Non-interest expenses were $171 million vs. $155 million. Efficiency ratio was 30.6%. For full year 2026, revised EPS guidance is $3.10-$3.20.

Outlook

Management sees strong demand for higher education: nearly 90% of surveyed families view it as an investment, and FAFSA completion rates are up nearly 20% YoY. Recent college graduate unemployment has normalized after a temporary increase last summer. Employers expect to increase new graduate hiring by 5.6% this academic year. These trends support originations growth despite economic uncertainty.

Growth Drivers

Key growth drivers include federal PLUS reforms, which could increase originations up to 70% over several years, and the expansion of graduate lending (including new medical/dental offerings). The company expects multi-year growth in both undergraduate and graduate segments. Additionally, a second strategic partnership is expected before year-end to support the grad opportunity.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Net interest margin was 5.29% in Q1, benefiting from lower funding costs. NIM is expected to moderate modestly due to higher liquidity from the March loan sale. The efficiency ratio was 30.6%; management expects it to rise to the high 30s during the investment phase and then decline back to the low 30s, demonstrating operating leverage.

Key Risks

Risks include credit performance of the loan modification program (early exits performing slightly better than assumed, but more data needed). Delinquency ratios may be affected by loan sales (denominator effect). Economic uncertainty could impact recent graduate employment. Competitive dynamics in the grad market and the timing of the new partnership are also noted.

Generated by AI · Q1 2026 results · Not investment advice

📊 Analysis Methodology

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