Navient Corporation (NAVI) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-2118.9%

-$181.70

vs $9.00 price

Levered DCF

-$272.27

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.23

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-16.05×	11.08×	9.96×	3.62×	5.03×	4.61×	5.26×	5.8×
P/B	0.54×	0.55×	0.82×	0.79×	1.39×	0.78×	0.94×	0.65×
P/S	0.4×	0.34×	0.47×	0.61×	1.02×	0.51×	0.57×	0.41×
EV / EBITDA	18.14×	283.86×	189.61×	82.46×	84.85×	151.81×	116.2×	174.43×
Gross margin	87.0%	20.0%	23.9%	43.2%	64.4%	41.1%	31.7%	27.8%
Operating margin	77.1%	4.1%	6.5%	21.5%	26.5%	14.2%	13.9%	9.4%
Net margin	-2.5%	3.1%	4.7%	16.8%	20.3%	11.0%	10.9%	7.1%
Current ratio	0.74×	0.55×	0.66×	0.76×	0.87×	0.58×	0.37×	0.43×
Debt / equity	19.05×	18.43×	20.98×	22.64×	29.54×	34.27×	27.05×	28.22×
Interest coverage	0.96×	0.05×	0.09×	0.39×	0.71×	0.26×	0.22×	0.14×
Dividend yield	4.9%	4.8%	3.4%	3.9%	3.0%	6.5%	4.7%	7.3%
Payout ratio	-78.8%	53.4%	34.2%	14.1%	14.9%	29.9%	24.6%	42.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.3%	5.0%	8.3%	21.7%	27.6%	16.9%	17.9%	11.2%
Return on invested capital	3.7%	0.3%	0.4%	0.9%	0.9%	0.5%	0.6%	0.4%
Return on assets	-0.2%	0.3%	0.4%	0.9%	0.9%	0.5%	0.6%	0.4%
Free cash flow yield	34.3%	31.7%	29.8%	13.1%	19.5%	52.1%	32.4%	49.8%
Earnings yield	-6.2%	9.0%	10.0%	27.6%	19.9%	21.7%	19.0%	17.3%
Enterprise value	$44.9B	$49.4B	$59.3B	$68.2B	$79.4B	$84.1B	$92.1B	$100.3B
Net debt / EBITDA	17.62×	275.53×	182.35×	79.64×	81×	148.39×	112.23×	170.45×
Cash conversion cycle (days)	189	164	174	214	249	245	155	154