NYSE: SYF
Synchrony Financial
Financials · Finance Services
52-week range
$63.08$88.77
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$22.1B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $29.4B |
| FY2017, ended Dec 31, 2017 | $29.4B |
| FY2018, ended Dec 31, 2018 | $16.7B |
| FY2019, ended Dec 31, 2019 | $22.1B |
| FY2020, ended Dec 31, 2020 | $20.3B |
| FY2021, ended Dec 31, 2021 | $24.2B |
| FY2022, ended Dec 31, 2022 | $14.4B |
| FY2023, ended Dec 31, 2023 | $15.5B |
| FY2024, ended Dec 31, 2024 | $25.3B |
| FY2025, ended Dec 31, 2025 | $29.0B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $22.1B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$19.3B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $13.9B |
| FY2017, ended Dec 31, 2017 | $15.3B |
| FY2018, ended Dec 31, 2018 | $16.4B |
| FY2019, ended Dec 31, 2019 | $17.2B |
| FY2020, ended Dec 31, 2020 | $14.8B |
| FY2021, ended Dec 31, 2021 | $14.7B |
| FY2022, ended Dec 31, 2022 | $16.0B |
| FY2023, ended Dec 31, 2023 | $17.3B |
| FY2024, ended Dec 31, 2024 | $19.5B |
| FY2025, ended Dec 31, 2025 | $19.0B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $19.3B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$3.33B
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| Period | Net income |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.25B |
| FY2017, ended Dec 31, 2017 | $1.94B |
| FY2018, ended Dec 31, 2018 | $2.79B |
| FY2019, ended Dec 31, 2019 | $3.75B |
| FY2020, ended Dec 31, 2020 | $1.39B |
| FY2021, ended Dec 31, 2021 | $4.22B |
| FY2022, ended Dec 31, 2022 | $3.02B |
| FY2023, ended Dec 31, 2023 | $2.24B |
| FY2024, ended Dec 31, 2024 | $3.50B |
| FY2025, ended Dec 31, 2025 | $3.55B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $3.33B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$15.9B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $9.32B |
| FY2017, ended Dec 31, 2017 | $11.6B |
| FY2018, ended Dec 31, 2018 | $9.40B |
| FY2019, ended Dec 31, 2019 | $12.1B |
| FY2020, ended Dec 31, 2020 | $11.5B |
| FY2021, ended Dec 31, 2021 | $8.34B |
| FY2022, ended Dec 31, 2022 | $10.3B |
| FY2023, ended Dec 31, 2023 | $14.3B |
| FY2024, ended Dec 31, 2024 | $14.7B |
| FY2025, ended Dec 31, 2025 | $15.0B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $15.9B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$17.0B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $20.1B |
| FY2017, ended Dec 31, 2017 | $20.8B |
| FY2018, ended Dec 31, 2018 | $24.0B |
| FY2019, ended Dec 31, 2019 | $19.9B |
| FY2020, ended Dec 31, 2020 | $15.8B |
| FY2021, ended Dec 31, 2021 | $14.5B |
| FY2022, ended Dec 31, 2022 | $14.2B |
| FY2023, ended Dec 31, 2023 | $16.0B |
| FY2024, ended Dec 31, 2024 | $15.5B |
| FY2025, ended Dec 31, 2025 | $15.2B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $17.0B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 61.6% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.311M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 811M |
| FY2017, ended Dec 31, 2017 | 760M |
| FY2018, ended Dec 31, 2018 | 710M |
| FY2019, ended Dec 31, 2019 | 613M |
| FY2020, ended Dec 31, 2020 | 584M |
| FY2021, ended Dec 31, 2021 | 521M |
| FY2022, ended Dec 31, 2022 | 437M |
| FY2023, ended Dec 31, 2023 | 407M |
| FY2024, ended Dec 31, 2024 | 389M |
| FY2025, ended Dec 31, 2025 | 348M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 311M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$3.84B
Net: $3.84B more bought back than issued
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| Period | Bought back |
|---|---|
| FY2016, ended Dec 31, 2016 | $476M |
| FY2017, ended Dec 31, 2017 | $1.50B |
| FY2018, ended Dec 31, 2018 | $1.87B |
| FY2019, ended Dec 31, 2019 | $3.62B |
| FY2020, ended Dec 31, 2020 | $985M |
| FY2021, ended Dec 31, 2021 | $2.88B |
| FY2022, ended Dec 31, 2022 | $3.32B |
| FY2023, ended Dec 31, 2023 | $1.11B |
| FY2024, ended Dec 31, 2024 | $1.01B |
| FY2025, ended Dec 31, 2025 | $2.94B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $3.84B |
Revenue (TTM)
$19.3B
+2.6% YoY
Net income (TTM)
$3.33B
−6.8% YoY
Cash
$15.9B
−2.1% YoY
Total debt
$17.0B
+18.0% YoY
Valuation
At current price- Market Cap
- $23.5B
- P/E
- 7.0×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.2×
- Price / Book
- 1.4×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $19.3B
- Revenue Growth YoY
- 2.6%
- Revenue CAGR 3Y
- 5.9%
- Revenue CAGR 5Y
- 5.1%
- EPS Growth YoY
- 5.0%
- Net Income Growth YoY
- −6.8%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- —
- Net Margin
- 17.3%
- FCF Margin
- —. Free cash flow / revenue
- Return on Equity
- 19.8%
Earnings
Trailing 12 months- Net Income
- $3.33B
- EPS (diluted)
- $9.58
- EBITDA
- —. Operating income + depreciation & amortization
- Operating Income
- —
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $15.9B
- Total Debt
- $17.0B
- Net Debt
- $1.12B
- Total Assets
- $122B
- Total Liabilities
- $106B
- Shareholders' Equity
- $16.6B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $9.55B
- Capital Expenditure
- —
- Free Cash Flow
- —. Operating cash flow − capital expenditure
Dividends and risk
Last 12 months- Dividend Yield
- 1.6%
- Dividend / Share
- $1.24
- Beta (5Y)
- 1.35
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $19.3B.
Note
Net margin of 17.3% over the last 12 months.
Strength
Share count is down 13.5% in a year, from buybacks.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 22, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K59Nothing notable
59Nothing notable
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 6, 2026 · Read the filing on EDGAR
- Net earnings rose 1.5% to $3.6 billion, but revenue after partner payments fell about 7% because 2024 included a $1.1 billion Pets Best sale gain.
- Credit quality improved: the net charge-off rate fell to 5.65% from 6.31%, and lower credit loss provisions drove the year's profit.
- Loans fell 0.9% and active accounts declined, but management expects loan growth in 2026, helped by new programs and the Lowe's commercial portfolio purchase.
- New this year: January 2026 policy discussions about capping credit card interest rates could limit how Synchrony prices its products.
Business momentum
Mixed
“These drivers were partially offset by lower other income due to the gain on sale related to Pets Best of $1.1 billion in the prior year, as well as higher retailer share arrangements.”
Outlook
Positive
“In 2026, we expect loan receivables to increase, reflecting growth in both purchase volume and average active accounts, including the impact from new or recently launched programs”
Financial stress
Low
“We believe our liquidity position at December 31, 2025 remains strong and we will continue to closely monitor our liquidity as economic conditions change.”
Tone against the previous report
About the same
Red flags
None found in this report.
Positives
Fewer loan losses and late payments
“The net charge-off rate decreased 66 basis points to 5.65% for the year ended December 31, 2025.”
Lower funding costs lifted net interest income
“Net interest income increased by $455 million, or 2.5%, for the year ended December 31, 2025, resulting from the changes in interest income and interest expense discussed above.”
Large cash returns to shareholders
“During the year ended December 31, 2025, we repurchased $2.9 billion of our outstanding common stock, and declared and paid cash dividends of $1.15 per common share, or $427 million in the aggregate.”
Concerns
Loan balances and customer accounts shrank
“Loan receivables decreased 0.9% to $103.8 billion at December 31, 2025, reflecting the effects of higher payment rates as a result of our improved credit mix as well as flat purchase volume and lower average active accounts compared to the prior year.”
Payments to retail partners are rising quickly
“Retailer share arrangements increased by $598 million, or 17.6%, for the year ended December 31, 2025, reflecting lower net charge-offs and the impact of our product, pricing and policy changes.”
Staff and technology costs grew
“Employee costs increased by $221 million, or 11.8%, for the year ended December 31, 2025, primarily driven by restructuring costs related to a voluntary early retirement program, higher variable compensation”
New risks since the previous report
Possible caps on credit card interest rates
“For example, the policy discussions in January 2026 regarding caps on credit card interest rates could result in certain constraints on the pricing of our credit products.”
More state enforcement as the CFPB pulls back
“State authorities may be more active in pursuing enforcement actions in response to decreased enforcement and supervisory activity by the CFPB.”
Biggest risks named
- Possible legal caps on credit card interest rates
- Higher loan losses if customers' ability to repay weakens
- CFPB, state or other regulatory action on deferred interest and other products
- Funding costs, deposit competition and credit-rating pressure
- Capital and stress-test rules limiting dividends and buybacks
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −1 | |
| Score | 59 | |
Written by AI (Claude Opus 5.5) from the report’s text. 11 of 11 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 22, 2026 | Pro | |||
| 10-K | Feb 6, 2026 | 59 | Mixed | None | |
| 10-K | Feb 7, 2025 | 76 | Strong improvement | None | |
| 10-K | Feb 8, 2024 | 51 | Mixed | 1 medium | |
| 10-K | Feb 9, 2023 | 52 | Mixed | None | |
| 10-K | Feb 10, 2022 | 60 | Mixed | None | |
| 10-K | Feb 11, 2021 | 44 | Sharp deterioration | None | |
| 10-K | Feb 15, 2019 | 72 | Strong improvement | 1 medium1 minor | |
| 10-K | Feb 22, 2018 | 54 | Mixed | 1 medium | |
| 10-K | Feb 23, 2017 | 68 | Improving | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 22, 2026. View filings on SEC EDGAR