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Navient Corporation (NAVI) Financial Ratios

Latest Ratios: P/E Ratio -10.3x · EV/EBITDA 17.8x · ROE -3.2%. (2012–2025 historical series)

NAVI Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Market Cap	$785M	$1.3B	$1.5B	$2.3B	$2.4B	$3.6B	$1.9B	$3.2B	$2.3B	$3.7B	$5.3B
Enterprise Value	$44.4B	$44.9B	$49.4B	$59.4B	$68.2B	$79.5B	$84.1B	$92.2B	$100.3B	$112.0B	$119.5B
P/E Ratio →	-10.31	—	11.26	10.06	3.67	5.09	4.65	5.34	5.87	12.81	7.75
P/S Ratio	0.24	0.40	0.35	0.47	0.62	1.03	0.51	0.58	0.42	0.72	1.07
P/B Ratio	0.34	0.54	0.56	0.83	0.80	1.40	0.78	0.95	0.66	1.07	1.42
P/FCF	1.78	2.92	3.21	3.39	7.77	5.20	1.94	3.13	2.04	0.44	3.90
P/OCF	1.78	2.92	3.21	3.39	7.77	5.20	1.94	3.13	2.04	3.24	3.90

P/E links to full P/E history page with 30-year chart

NAVI EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
EV / Revenue	—	13.90	11.67	12.28	17.77	22.53	22.53	16.81	17.95	21.61	24.07
EV / EBITDA	17.80	18.00	284.01	189.67	82.50	84.90	152.12	116.99	179.49	142.30	105.09
EV / EBIT	17.82	18.17	284.01	189.67	82.50	84.90	158.12	120.82	190.02	146.59	107.84
EV / FCF	—	101.79	107.66	87.82	223.70	113.20	85.23	90.47	88.01	13.27	88.06

NAVI Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Gross Margin	87.0%	87.0%	20.0%	23.9%	43.2%	64.4%	41.1%	31.7%	27.8%	34.4%	42.2%
Operating Margin	77.1%	77.1%	4.1%	6.5%	21.5%	26.5%	14.2%	13.9%	9.4%	14.7%	22.3%
Net Profit Margin	-2.5%	-2.5%	3.1%	4.7%	16.8%	20.3%	11.0%	10.9%	7.1%	5.6%	13.7%

Return on Capital

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
ROE	-3.2%	-3.2%	4.9%	7.9%	23.1%	28.4%	14.2%	17.3%	11.2%	8.1%	17.8%
ROA	-0.2%	-0.2%	0.2%	0.3%	0.9%	0.9%	0.5%	0.6%	0.4%	0.2%	0.5%
ROIC	3.8%	3.8%	0.2%	0.4%	0.8%	0.9%	0.4%	0.6%	0.4%	0.5%	0.7%
ROCE	5.5%	5.5%	0.3%	0.5%	1.2%	1.2%	0.6%	0.8%	0.5%	0.7%	1.0%

NAVI Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Debt / Equity	19.05	19.05	18.43	20.98	22.64	29.42	34.08	26.94	27.99	31.50	31.01
Debt / EBITDA	18.33	18.33	279.68	185.03	81.49	81.97	150.80	114.51	177.63	139.48	101.54
Net Debt / Equity	—	18.18	18.15	20.68	22.12	29.07	33.60	26.58	27.63	31.06	30.67
Net Debt / EBITDA	17.48	17.48	275.53	182.35	79.64	81.00	148.66	112.95	175.33	137.55	100.44
Debt / FCF	—	98.87	104.45	84.43	215.94	108.00	83.29	87.34	85.97	12.83	84.16
Interest Coverage	0.96	0.96	0.05	0.09	0.39	0.71	0.26	0.22	0.14	0.26	0.45

NAVI Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Current Ratio	0.41	0.41	0.55	0.66	0.76	0.87	0.58	0.37	0.43	0.33	0.27
Quick Ratio	0.41	0.41	0.55	0.66	0.76	0.87	0.58	0.37	0.43	0.33	0.27
Cash Ratio	0.41	0.41	0.15	0.18	0.31	0.24	0.18	0.13	0.15	0.13	0.09
Asset Turnover	—	0.07	0.08	0.08	0.05	0.04	0.04	0.06	0.05	0.05	0.04
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—
Days Sales Outstanding	—	—	—	—	—	—	—	—	—	—	—

NAVI Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Dividend Yield	7.6%	—	—	—	—	—	—	—	—	—	—
Payout Ratio	—	—	53.4%	34.2%	14.1%	14.9%	29.9%	24.6%	42.0%	60.3%	29.5%

Total Shareholder Return Metrics

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Earnings Yield	—	—	8.9%	9.9%	27.2%	19.7%	21.5%	18.7%	17.0%	7.8%	12.9%
FCF Yield	56.2%	34.3%	31.1%	29.5%	12.9%	19.2%	51.5%	32.0%	49.0%	225.5%	25.6%
Buyback Yield	14.1%	—	—	—	—	—	—	—	—	—	—
Total Shareholder Yield	21.8%	—	—	—	—	—	—	—	—	—	—
Shares Outstanding	—	$99M	$111M	$123M	$144M	$172M	$195M	$233M	$264M	$281M	$322M

Key Metrics

Growth RegimeContracting

ProfitabilityStrained

Balance SheetVulnerable

Cash FlowDeteriorating

Top Statement Risk

Portfolio Amortization and Leverage

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Market Pricing Reflects Liquidation Concerns

As reported in recent financial data, Navient trades at a P/B ratio of 0.36, which suggests that the market is pricing the firm as a liquidating trust rather than a going concern, significantly discounting the book value relative to peers like SLM Corporation.

The deep discount to book value indicates that investors are skeptical of the company's ability to successfully pivot its business model toward BPS while managing the run-off of its legacy loan portfolio. This valuation level implies that the market expects further asset impairments or capital erosion, rendering traditional P/E multiples less relevant given the volatility in earnings.

Capital Efficiency Hindered by Leverage

Based on the provided figures, ROIC has remained near zero or negative over the last ten quarters, reflecting a fundamental inability to generate returns on invested capital that exceed the company's cost of funding in a high-leverage environment.

The persistent decay in ROIC suggests that the capital-intensive nature of the legacy loan book is not being offset by the higher-margin BPS segment. Investors should monitor whether the company can improve these returns as the loan portfolio shrinks, or if the current capital structure will continue to suppress profitability metrics indefinitely.

Working Capital Cycles Remain Stagnant

According to quarterly filings, the company's asset turnover ratio has remained consistently low at approximately 0.02, highlighting the structural inefficiency of holding a large, amortizing loan portfolio that requires significant servicing overhead without generating commensurate top-line growth.

The lack of improvement in asset turnover suggests that the company is not effectively redeploying capital into more efficient, fee-based revenue streams. The high DSO, which reached 214 days in 2026Q1, further underscores the difficulty in converting servicing activities into rapid cash inflows, complicating the company's liquidity management.

Debt Burden Constrains Strategic Flexibility

As indicated by the reported figures, Navient maintains a debt-to-equity ratio of 18.99 as of 2026Q1, a level that remains stubbornly elevated and suggests that the company's capital structure is heavily reliant on debt financing despite a shrinking asset base.

The extremely high leverage ratio, combined with inconsistent interest coverage, indicates that the company has limited room for error in its debt service obligations. This financial profile warrants further investigation into the sustainability of current dividend payments and share buybacks, which appear to be occurring despite the lack of robust free cash flow generation.

Misapplication of P/E Multiples

Based on the provided financial data, the P/E ratio is the most commonly misapplied metric for Navient, as it fails to account for the non-cash derivative adjustments and restructuring costs that frequently distort reported earnings in a complex financial services model.

Investors should instead focus on 'Core Earnings' or cash-based metrics that strip away the volatility of the FFELP portfolio's accounting. Relying on standard P/E multiples obscures the underlying cash-generating capacity of the business and may lead to an inaccurate assessment of the company's true valuation relative to its peers.

Download Financial Ratios Data

Includes 30+ ratios · 14 years · Updated daily

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10-year return with dividends reinvested.

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NAVI — Frequently Asked Questions

Quick answers to the most common questions about buying NAVI stock.

What is Navient Corporation's P/E ratio?

Navient Corporation's current P/E ratio is -10.3x. The historical average is 7.2x.

What is Navient Corporation's EV/EBITDA?

Navient Corporation's current EV/EBITDA is 17.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 69.5x.

What is Navient Corporation's ROE?

Navient Corporation's return on equity (ROE) is -3.2%. The historical average is 15.9%.

Is NAVI stock overvalued?

Based on historical data, Navient Corporation is trading at a P/E of -10.3x. Compare with industry peers and growth rates for a complete picture.

What is Navient Corporation's dividend yield?

Navient Corporation's current dividend yield is 7.62%.

What are Navient Corporation's profit margins?

Navient Corporation has 87.0% gross margin and 77.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.

How much debt does Navient Corporation have?

Navient Corporation's Debt/EBITDA ratio is 18.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.