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Synchrony FinancialSYF

Sector
Other
Industry
Finance Services
Exchange
NYSE

Stock Price $SYF

Latest filings

You are here#64 of 77 in Financials by market cap

Filing record · 2016–202610-K1110-Q338-K245

SYF filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 245 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Feb ’19Feb ’19
  2. Leadership change8-K · Jun ’21Jun ’21
  3. Leadership change8-K · Sep ’25Sep ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Net Income Trend

Year-over-year comparison from 10-K annual reports

  14. $3.55B
YoY changeLargest recent move+204.8%in FY21Latest +1.5%

1 older move runs past ±150% (largest +204.8%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All SYF Financial Metrics36 metrics

Income Statement8

Balance Sheet14

Cash Flow9

Per Share5

02—Overview

Synchrony Financial Financial Overview 2021–2025

Updated Nov 4, 2026

Synchrony's share count fell from 0.53 billion at the close of FY2021 to 0.35 billion at the close of FY2025, a cut of roughly one-third. That shrinkage matters because net earnings barely moved over the same stretch. The thesis: buybacks, not growth, have powered per-share results, while credit costs have swung the underlying profit.

Net earnings were $4.2 billiona in FY2021, when the provision for credit losses collapsed to $726 million. They fell to $2.2 billion in FY2023 as the provision hit $6.0 billion and the net charge-off rate reached 4.87%. They recovered to $3.6 billion in FY2025, with the provision down to $5.2 billion and charge-offs at 5.65%. Net interest income rose from $14.2 billion in FY2021 to $18.5 billion in FY2025. Loan receivables over the same span grew from $80.7 billion to $103.8 billion, though they slipped 0.9% in the latest year. Diluted EPS reached $9.28 in FY2025, up from $8.55 in FY2024.

Capital return is the other pillar. Synchrony repurchased $2.9 billionb of stock in FY2025 and paid $427 million in dividends, while holding a 12.6% CET1 ratio and $81.1 billion in deposits funding 84% of total sources. The market priced all of this modestly: at the close of FY2025, shares traded at $83.43, or 9.0x earnings, for a market cap of $29.0 billion.

Recent Developments (Q2 and Q3 2026)

Earnings slipped even as credit improved. Q3 2026 net earnings were $892 millionc, down from $1.08 billion, while EPS fell to $2.68 from $2.86. Other expense rose 9.9% to $1.37 billion, and the efficiency ratio climbed to 35.9% from 32.6%. The net charge-off rate dropped to 4.79% from 5.16%, and loan receivables grew 3.2% to $103.3 billion, helped by the April 2026 Lowe's commercial card purchase. Management guided to about $9.50 FY2026 EPS. Carol Juel became CEO of the Digital platform on June 29, 2026, succeeding Bart Schaller.

Bulls point to record purchase volume of $49.7 billiond in Q3 2026, falling losses, and $4.6 billion of buyback capacity left. Bears point to rising costs, a $30 million reserve build, and CET1 sliding to 12.9% as buybacks and dividends outrun earnings. Shares traded at 8.1x earnings as of the October 21, 2026 report date, not today.

What to watch: expense growth against the 35.9% efficiency ratio; CET1 trend as buybacks continue

03—Filings

Recent SEC Filings

  1. 8-KSynchrony Financial 8-K Report, Financial Results (Oct 20, 2026)Synchrony Financial (NYSE: SYF) reported third quarter 2026 net earnings of $892 million, or $2.68 per diluted share, compared to $1.1 billion, or $2.86 per diluted share, in the third quarter of 2025. Net earnings decreased $185 million, or 17%, primarily reflecting higher other expense of $123 million (up 10%) and a provision for credit losses that rose $120 million (up 10%) to $1.3 billion, driven by a $30 million reserve build versus a $152 million release in the prior year. Net interest income increased $89 million, or 2%, to $4.8 billion, and retailer share arrangements rose $72 million, or 7%, to $1.1 billion. Operating activity was healthy. Purchase volume increased 8% to $49.7 billion, a third-quarter record, and loan receivables increased 3% to $103.3 billion. Credit metrics improved year over year, with net charge-offs at 4.79% of average loan receivables versus 5.16% a year earlier, and loans 30+ days past due at 4.34% versus 4.39%. Return on assets declined to 2.9% from 3.6%, and return on equity fell to 21.0% from 25.1%. The estimated Common Equity Tier 1 ratio was 12.9%, down from 14.3% a year earlier, and the company returned $1.2 billion to shareholders, including $1.1 billion of share repurchases. Management updated its full-year 2026 outlook, which the presentation (Exhibit 99.3) lists as mid-single-digit ending loan receivables growth, approximately $9.50 of EPS, and a net charge-off rate below 5.5%. The filing also notes that the company expects other expense in the fourth quarter of 2026 to be generally in line with the third quarter.
  2. 8-KSynchrony Financial 8-K Report, Regulation FD Disclosure (Oct 20, 2026)Synchrony Financial (SYF) furnished this Form 8-K under Item 7.01 (Regulation FD Disclosure), providing its Monthly Charge-off and Delinquency Statistics (Exhibit 99.1) for the thirteen months ended September 30, 2026. The filing states the information is furnished, not filed, and that the company intends to continue furnishing these statistics monthly, with the last month of each calendar quarter's statistics released alongside its quarterly earnings announcement. For September 30, 2026, period-end loan receivables were $103.3 billion, up from $100.2 billion at September 30, 2025. The 30+ delinquency rate was 4.3%, compared with 4.4% a year earlier. The net charge-off rate was 4.7% and the adjusted net charge-off rate was 4.6% for September 2026, versus 5.3% and 5.1% respectively in September 2025. The monthly series shows net charge-off rates peaking at 5.8% in January and February 2026 and March 2026 before easing to 4.7% in July 2026 and 4.9% in August 2026. The 30+ delinquency rate ranged from 4.2% to 4.7% over the period, with the highest reading at 4.7% in January 2026. The exhibit also notes that charge-off timing varies by cycle-date count, which can cause monthly swings unrelated to portfolio performance.
  3. 8-KSynchrony Financial 8-K Report, Regulation FD Disclosure (Sep 14, 2026)Synchrony Financial furnished its monthly charge-off and delinquency statistics for the thirteen months ended August 31, 2026, under Item 7.01 (Regulation FD) of this Form 8-K, with the data presented in Exhibit 99.1. The statistics are unaudited and stated in billions of dollars. The company says it will continue furnishing these statistics monthly, and for the last month of each calendar quarter it will furnish them together with its quarterly earnings announcement. For August 2026, period-end loan receivables were $103.0 billion, compared with $100.2 billion at August 31, 2025. The 30+ day delinquency rate was 4.2%, versus 4.3% a year earlier, and it has been 4.2% in each of May, June, July and August 2026. The net charge-off rate was 4.9% for August 2026, compared with 5.1% in August 2025. The adjusted net charge-off rate, a non-GAAP measure that includes a recovery adjustment, was also 4.9% for August 2026, versus 5.3% in August 2025. The filing shows that credit metrics peaked in early 2026. The net charge-off rate reached 5.8% in both February and March 2026, and the 30+ day delinquency rate reached 4.7% in February 2026. Both metrics improved over the following months. The company notes that monthly charge-off figures can move with the number of charge-off cycle dates in a month, so single-month results may not reflect portfolio performance changes. Recovery adjustments are estimated for interim months and are allocated evenly across each quarter's three months.
  4. 8-KSynchrony Financial 8-K Report, Financial Results (Aug 17, 2026)Synchrony Financial furnished its monthly charge-off and delinquency statistics for the thirteen months ended July 31, 2026, in Exhibit 99.1 to this Form 8-K under Item 7.01 (Regulation FD Disclosure), filed August 17, 2026. The information is furnished, not filed, and the company states it will continue to publish these statistics monthly. For the last month of each calendar quarter, the statistics will be released alongside its quarterly financial results. For July 2026, period-end loan receivables were $102.6 billion, up from $102.2 billion at June 30, 2026 and $100.3 billion at July 31, 2025. The 30+ day delinquency rate was 4.2%, unchanged from June 2026 and from July 2025. The net charge-off rate was 4.7% in July 2026, compared with 5.3% in June 2026 and 5.1% in July 2025. The adjusted net charge-off rate, which adds a recovery adjustment of 0.2% in July, was 4.9%, versus 5.2% in June 2026 and 5.1% in July 2025. The filing notes that consumer credit card loan receivables made up greater than 90% of total period-end loan receivables at July 31, 2026. It also explains that monthly charge-off figures can move because charge-offs are executed on cycle dates that vary by month, and that recovery adjustments are estimates allocated evenly across each quarter's months and may differ from actual quarterly results.
  5. 8-KSynchrony Financial 8-K Report, Corporate Update (Jul 31, 2026)Synchrony Financial (SYF) entered into an underwriting agreement dated July 28, 2026 with J.P. Morgan Securities LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC, as representatives of the underwriters, to issue and sell two series of senior notes in a public offering under its Form S-3 registration statement (File No. 333-288729). The offering consists of $600,000,000 of 5.450% Fixed-to-Floating Rate Senior Notes due 2030 and $500,000,000 of 6.276% Fixed-to-Floating Rate Senior Notes due 2037. The notes will be issued under a base indenture dated August 11, 2014 with The Bank of New York Mellon, as trustee, as supplemented by a Twelfth Supplemental Indenture dated August 2, 2024 and a Sixteenth Supplemental Indenture dated July 31, 2026. The filing states that the summaries of these documents are qualified in their entirety by the full texts, which are filed as exhibits. An opinion of Sidley Austin LLP on the validity of the notes is also filed as Exhibit 5.1. The filing is a routine debt issuance disclosure. It does not state the use of proceeds, pricing details beyond the coupon rates and principal amounts, or any other financial results.
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04—See also

Related Companies

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