Synchrony Financial (SYF)
Market Price (5/22/2026): $72.0 | Market Cap: $24.7 BilSector: Financials | Industry: Consumer Finance
Synchrony Financial (SYF)
Market Price (5/22/2026): $72.0Market Cap: $24.7 BilSector: FinancialsIndustry: Consumer Finance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%, FCF Yield is 40% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 66%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 66%, CFO LTM is 9.8 Bil, FCF LTM is 9.8 Bil Stock buyback supportStock Buyback 3Y Total is 5.6 Bil Low stock price volatilityVol 12M is 30% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and AI in Financial Services. Themes include Digital Payments, Online Banking & Lending, Show more. | Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.5% Key risksSYF key risks include [1] adverse regulatory actions from bodies like the CFPB, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 16%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 12%, FCF Yield is 40% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -29% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 66%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 66%, CFO LTM is 9.8 Bil, FCF LTM is 9.8 Bil |
| Stock buyback supportStock Buyback 3Y Total is 5.6 Bil |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and AI in Financial Services. Themes include Digital Payments, Online Banking & Lending, Show more. |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.5% |
| Key risksSYF key risks include [1] adverse regulatory actions from bodies like the CFPB, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Mixed First Quarter 2026 Earnings Report with Robust Capital Returns. Synchrony Financial reported first-quarter 2026 earnings per share (EPS) of $2.27 on April 21, 2026, surpassing analyst estimates of $2.14 to $2.22 per share. However, revenue for the quarter was $3.70 billion, falling below analysts' expectations of $3.81 billion and representing a 7.4% year-over-year decrease. Despite the mixed revenue, the company announced a new share repurchase program of up to $6.5 billion with no expiration date and a planned 13% increase in its quarterly cash dividend to $0.34 per share, starting in the third quarter of 2026, signaling strong capital allocation to shareholders. Additionally, credit quality showed improvement, with net charge-offs at 5.42%, down from 6.38% a year prior.
2. Strategic Partnerships and Initiatives Driving Future Growth. Synchrony Financial expanded and launched several key partnerships during the period, indicating efforts to bolster purchase volume and loan receivables. Notably, the company expanded its partnership with Lowe's as the new issuer of its co-brand credit card for home improvement professionals on April 30, 2026, and relaunched the DICK'S Sporting Goods credit card on May 6, 2026. Other new programs include a credit card partnership with Chico's FAS and the acceptance of the CareCredit credit card on Walmart.com. These strategic moves support the company's outlook for a 5% increase in loan receivables in 2026, balancing current stable loan balances of $100.1 billion.
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Stock Movement Drivers
Fundamental Drivers
The -0.1% change in SYF stock from 1/31/2026 to 5/21/2026 was primarily driven by a -7.1% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 72.04 | 72.00 | -0.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14,989 | 14,961 | -0.2% |
| Net Income Margin (%) | 23.9% | 24.1% | 0.9% |
| P/E Multiple | 7.4 | 6.8 | -7.1% |
| Shares Outstanding (Mil) | 366 | 342 | 6.9% |
| Cumulative Contribution | -0.1% |
Market Drivers
1/31/2026 to 5/21/2026| Return | Correlation | |
|---|---|---|
| SYF | -0.1% | |
| Market (SPY) | 7.6% | 59.6% |
| Sector (XLF) | -2.7% | 80.6% |
Fundamental Drivers
The -2.0% change in SYF stock from 10/31/2025 to 5/21/2026 was primarily driven by a -8.9% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 73.48 | 72.00 | -2.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14,989 | 14,961 | -0.2% |
| Net Income Margin (%) | 23.9% | 24.1% | 0.9% |
| P/E Multiple | 7.5 | 6.8 | -8.9% |
| Shares Outstanding (Mil) | 366 | 342 | 6.9% |
| Cumulative Contribution | -2.0% |
Market Drivers
10/31/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| SYF | -2.0% | |
| Market (SPY) | 9.5% | 53.8% |
| Sector (XLF) | -0.4% | 74.1% |
Fundamental Drivers
The 41.7% change in SYF stock from 4/30/2025 to 5/21/2026 was primarily driven by a 22.2% change in the company's Net Income Margin (%).| (LTM values as of) | 4302025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 50.81 | 72.00 | 41.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,045 | 14,961 | -0.6% |
| Net Income Margin (%) | 19.7% | 24.1% | 22.2% |
| P/E Multiple | 6.6 | 6.8 | 3.7% |
| Shares Outstanding (Mil) | 385 | 342 | 12.5% |
| Cumulative Contribution | 41.7% |
Market Drivers
4/30/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| SYF | 41.7% | |
| Market (SPY) | 35.5% | 61.7% |
| Sector (XLF) | 7.7% | 75.8% |
Fundamental Drivers
The 162.1% change in SYF stock from 4/30/2023 to 5/21/2026 was primarily driven by a 54.1% change in the company's P/E Multiple.| (LTM values as of) | 4302023 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.47 | 72.00 | 162.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,080 | 14,961 | 23.8% |
| Net Income Margin (%) | 22.2% | 24.1% | 8.3% |
| P/E Multiple | 4.4 | 6.8 | 54.1% |
| Shares Outstanding (Mil) | 434 | 342 | 26.9% |
| Cumulative Contribution | 162.1% |
Market Drivers
4/30/2023 to 5/21/2026| Return | Correlation | |
|---|---|---|
| SYF | 162.1% | |
| Market (SPY) | 85.6% | 61.7% |
| Sector (XLF) | 63.7% | 75.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SYF Return | 36% | -27% | 20% | 74% | 31% | -13% | 135% |
| Peers Return | 39% | -29% | 27% | 48% | 30% | -8% | 122% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| SYF Win Rate | 58% | 50% | 58% | 75% | 67% | 20% | |
| Peers Win Rate | 65% | 43% | 57% | 67% | 65% | 28% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| SYF Max Drawdown | -16% | -44% | -28% | -16% | -38% | -28% | |
| Peers Max Drawdown | -22% | -45% | -32% | -18% | -28% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: COF, AXP, BFH, ALLY, WFC. See SYF Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/21/2026 (YTD)
How Low Can It Go
| Event | SYF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.2% | -18.8% |
| % Gain to Breakeven | 49.7% | 23.1% |
| Time to Breakeven | 83 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.6% | -9.5% |
| % Gain to Breakeven | 27.5% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.2% | -6.7% |
| % Gain to Breakeven | 37.3% | 7.1% |
| Time to Breakeven | 223 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -40.6% | -24.5% |
| % Gain to Breakeven | 68.3% | 32.4% |
| Time to Breakeven | 664 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -61.6% | -33.7% |
| % Gain to Breakeven | 160.7% | 50.9% |
| Time to Breakeven | 256 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -29.7% | -19.2% |
| % Gain to Breakeven | 42.3% | 23.8% |
| Time to Breakeven | 53 days | 105 days |
In The Past
Synchrony Financial's stock fell -33.2% during the 2025 US Tariff Shock. Such a loss loss requires a 49.7% gain to breakeven.
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Asset Allocation
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| Event | SYF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -33.2% | -18.8% |
| % Gain to Breakeven | 49.7% | 23.1% |
| Time to Breakeven | 83 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.6% | -9.5% |
| % Gain to Breakeven | 27.5% | 10.5% |
| Time to Breakeven | 44 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -27.2% | -6.7% |
| % Gain to Breakeven | 37.3% | 7.1% |
| Time to Breakeven | 223 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -40.6% | -24.5% |
| % Gain to Breakeven | 68.3% | 32.4% |
| Time to Breakeven | 664 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -61.6% | -33.7% |
| % Gain to Breakeven | 160.7% | 50.9% |
| Time to Breakeven | 256 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -29.7% | -19.2% |
| % Gain to Breakeven | 42.3% | 23.8% |
| Time to Breakeven | 53 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -30.7% | -12.2% |
| % Gain to Breakeven | 44.3% | 13.9% |
| Time to Breakeven | 297 days | 62 days |
In The Past
Synchrony Financial's stock fell -33.2% during the 2025 US Tariff Shock. Such a loss loss requires a 49.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Synchrony Financial (SYF)
AI Analysis | Feedback
1. The **Capital One** for store-branded credit cards and consumer financing programs, working behind the scenes for hundreds of retailers and healthcare providers.
2. It's like **Affirm** or **Klarna**, but for a much wider range of traditional private label credit cards and installment loans, partnered with numerous retailers and healthcare providers.
3. A specialized bank that acts as the outsourced credit and financing arm for a vast network of retailers and healthcare providers, similar to how a large payroll company like **ADP** manages payroll for many different businesses.
AI Analysis | Feedback
- Credit Cards: Provides a range of credit cards, including private label, co-brand, dual, and general purpose cards.
- Consumer & Commercial Installment Loans: Offers short-term and long-term installment loans to both consumers and commercial clients.
- Deposit Products: Accepts deposits through various accounts such as certificates of deposit, individual retirement accounts, money market accounts, and savings accounts.
- Specialized Financing Solutions: Delivers payments and financing programs tailored for specific industries like healthcare, retail, home, auto, and point-of-sale purchases.
- Debt Cancellation Products: Offers debt cancellation options to its eligible credit card customers.
AI Analysis | Feedback
Synchrony Financial (SYF) primarily sells its credit products and financing solutions to other companies, which then offer these to their own customers. Therefore, its major customers are the businesses with which it establishes programs and partnerships.
Based on the provided background, Synchrony Financial's major customers and partners include:
- Walgreens (WBA): Synchrony provides healthcare payments and financing solutions under the Walgreens brand.
- National and Regional Retailers: This includes a broad group of retailers in various industries such as apparel, specialty retail, home, auto, powersports, jewelry, and luxury.
- Local Merchants: Synchrony partners with local businesses across different sectors.
- Manufacturers: The company establishes programs with manufacturers.
- Healthcare Service Providers: This category includes providers of audiology products, dental services, and other health and wellness service providers.
- Buying Groups and Industry Associations: Synchrony also forms programs with these types of organizations.
AI Analysis | Feedback
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Brian Doubles, President and Chief Executive Officer
Brian Doubles was named CEO in April 2021, after serving as President for two years and as Executive Vice President and Chief Financial Officer for 10 years, including the period prior to Synchrony's separation from GE in 2014. He played a pivotal role in Synchrony's initial public offering in 2014 and its separation from GE in 2015. Prior to Synchrony's founding, he held various roles of increasing responsibility and management at GE, starting in 1998, across audit, treasury, consumer finance, and financial planning and analysis.
Brian Wenzel, Executive Vice President, Chief Financial Officer
Brian Wenzel is the Executive Vice President and Chief Financial Officer for Synchrony, appointed to this role in May 2019. He oversees accounting and controllership, financial planning and analysis, tax, investor relations, and treasury. He has over 30 years of experience in financial and strategic management, including 21 years at Synchrony and its predecessor, GE. Before becoming CFO, he was Synchrony's Deputy Chief Financial Officer and previously served as the CFO of Synchrony's Retail Card platform. Earlier in his career, he held roles in business development, growth, and investments for Synchrony and for GE's Treasury and Global Funding Operation. Before joining GE, Brian worked for PricewaterhouseCoopers and held various roles in a start-up healthcare venture.
Carol Juel, Executive Vice President, Chief Technology and Operating Officer
Carol Juel is Executive Vice President, Chief Technology and Operating Officer of Synchrony. She is responsible for building Synchrony's technology and operations strategy, creating seamless customer experiences, and driving the company's operational approach and engagement with cardholders. Prior to this role, she was Synchrony's first Chief Information Officer. Before Synchrony's separation from GE in 2015, Carol served as Chief Information Officer of GE Capital Retail Finance. In her ten years with GE, she held various senior leadership roles in technology governance, security, business development, digital, and marketing. She also spent nearly a decade in technology consulting at Accenture, focusing on the financial services sector.
Alberto Casellas, Executive Vice President and CEO—Health & Wellness
Alberto (Beto) Casellas is Executive Vice President and Chief Executive Officer of the Health & Wellness platform at Synchrony, a role held since June 2021. In this role, he drives growth through healthcare payments and financing solutions, overseeing CareCredit and Pets Best. Prior to this, he served as Executive Vice President and Chief Customer Engagement Officer of Synchrony, focusing on customer engagement and analytics. He began his career at GE in 1990, holding leadership assignments in sales, operations, P&L leadership, and e-commerce across various GE businesses, including GE Supply, GE Structured Services, and GE Capital.
Bart Schaller, Executive Vice President and CEO—Digital
Bart Schaller is Executive Vice President and Chief Executive Officer of the Digital platform at Synchrony, a position he has held since June 2021. In this role, he is responsible for providing comprehensive payment and financing solutions to partners and merchants primarily engaging with consumers through digital channels. Prior to this, he served as Chief Marketing Officer of Synchrony from May 2016 to June 2021, and before that, he led Synchrony's Business Development team from March 2014 to May 2016, overseeing new partner programs, sales, strategic investments, and M&A opportunities. Prior to Synchrony's separation from GE, he was Vice President and General Manager for GE Retail Consumer Finance from February 2005 to March 2014.
AI Analysis | Feedback
The key risks to Synchrony Financial (SYF) primarily revolve around its exposure to consumer credit, the evolving regulatory landscape, and increasing competition within the financial services sector.
- Credit Risk and Macroeconomic Conditions: Synchrony Financial's performance is highly sensitive to macroeconomic conditions, including consumer confidence, unemployment rates, and inflation. As a consumer financial services company, its profitability is directly impacted by consumers' ability to make payments on their credit products. Rising interest rates can lead to increased delinquencies and higher charge-offs on credit card and loan portfolios. The company historically operates with a higher default rate compared to many traditional banks, necessitating higher loss reserves, and its net interest margin is vulnerable to credit quality concerns.
- Regulatory and Political Risk: Synchrony Financial operates in a heavily regulated environment, and changes in government policies or consumer protection regulations pose a significant risk. Recent concerns include potential federal interest rate caps on credit cards, which could fundamentally alter the risk-based pricing model of the credit card industry and negatively impact Synchrony's net interest margin and profitability. Investigations by bodies like the Consumer Financial Protection Bureau (CFPB) can also lead to financial penalties and reputational damage.
- Competition and Evolving Payment Landscape: The consumer financial services industry is intensely competitive, with threats emerging from various players, including traditional banks, fintech companies, and Buy Now, Pay Later (BNPL) providers. Synchrony must continuously innovate and adapt to maintain its market position against new technologies and entrants. The rise of alternative payment methods and "agentic commerce" could challenge traditional interchange fee models, impacting revenue streams for credit card issuers like Synchrony.
AI Analysis | Feedback
The rapid adoption and expansion of Buy Now, Pay Later (BNPL) services, including offerings from fintech companies (such as Affirm, Klarna, and Afterpay) and major technology platforms (such as Apple Pay Later). These services provide consumers with alternative, often interest-free or low-interest, installment payment options directly at the point of sale. This model directly competes with Synchrony Financial's core private label credit card and consumer installment loan products offered through its extensive network of retail, healthcare, and other merchant partners, challenging Synchrony's established business model of providing traditional revolving credit and financing solutions.
AI Analysis | Feedback
Synchrony Financial operates in several key addressable markets within the United States, primarily focusing on consumer financing through credit products and specialized payment solutions.
U.S. Addressable Markets for Synchrony Financial's Main Products and Services:
- Private Label Credit Cards: The purchase volume for private label credit cards in the U.S. reached $201.20 billion in 2023. This market is projected to grow, with an anticipated purchase volume of $377.8 billion and receivables of $163.9 billion by 2027. Synchrony Financial itself targets over $339 billion in purchases and $172 billion in outstandings in this segment by 2025.
- Co-brand Credit Cards: The global co-branded credit card market was estimated at $13.41 billion in 2023 and is projected to reach $25.72 billion by 2030. Another estimate indicates the global market size was USD 16.00 billion in 2025, reaching USD 17.55 billion in 2026 and projected to grow to USD 31.28 billion by 2032. The U.S. is a significant contributor to this market.
- Consumer Installment Loans/Personal Loans: Personal loans in the U.S. amounted to $356 billion by the end of 2022. The broader U.S. loan market was valued at USD 1123.45 billion in 2024 and is expected to reach USD 1872.45 billion by 2030. The North American personal loans market was valued at USD 172.44 billion in 2025 and USD 192.13 billion in 2026.
- Healthcare Payments and Financing Solutions (including CareCredit): The U.S. healthcare finance solutions market was valued at USD 46.1 billion in 2021 and is expected to expand to USD 89.8 billion by 2030. Another report estimates the U.S. market at USD 51.94 billion in 2024, projected to reach USD 95.54 billion by 2032. CareCredit, a Synchrony Financial subsidiary, is a leading provider in this space, with 11.7 million cardholders in 2023. The CareCredit card is accepted at over 285,000 healthcare provider and retail locations nationwide and has over 12 million cardholders with approximately $40 billion in available credit.
- Dental Services Market (a component of healthcare financing): The U.S. dental services market was valued at USD 130.30 billion in 2022 and is projected to reach USD 216.33 billion by 2030. Other estimates place the U.S. dental services market at approximately USD 174.2 billion in 2025, growing to USD 234.11 billion by 2031, or USD 184.57 billion in 2025, reaching USD 308.65 billion by 2035. Another valuation states the U.S. dental services market size at US$166.5 billion in 2024, growing to US$172.6 billion in 2025, and projected to reach US$254.7 billion by 2034.
- Audiology Products and Services Market (a component of healthcare financing): The U.S. audiology devices market generated revenue of USD 4,297.6 million in 2024 and is expected to reach USD 5,905.8 million by 2030. The North American audiology devices market holds the largest global share, with the U.S. accounting for over 35% of global revenue in 2024. The audiology services market in the U.S. was valued at USD 12,055.85 million in 2025 and is expected to grow to USD 17,984.38 million by 2032.
- Pet Care Market (including Pets Best financing solutions): The U.S. pet care market is valued at USD 152 billion based on a five-year historical analysis (as of November 2025). This market is projected to reach $157 billion in the U.S. in 2025. The U.S. pet care and services market is expected to grow from USD 62.1 billion in 2025 to USD 91.74 billion by 2031. The U.S. pet insurance market alone surpassed $4.7 billion in 2024.
AI Analysis | Feedback
Synchrony Financial (SYF) is anticipated to drive future revenue growth over the next two to three years through several key strategic initiatives: * Expansion of Strategic Partnerships and Programs: Synchrony is actively pursuing and renewing strategic partnerships with major retailers and industry players. Notably, new programs such as the multi-year partnership with OnePay for a new credit card program for Walmart, which includes both private-label and general-purpose Mastercard options, are expected to significantly boost transaction volumes and revenue diversification. Renewals with partners like Polaris Inc. and integrations with companies like Lowe's also contribute to sustained growth in loan receivables and purchase volumes. * Growth in the Health & Wellness Sector: The company is making substantial inroads in the health and wellness industry, primarily through its CareCredit financing solutions. Key initiatives include expanding its integration with Clover to allow over 40,000 health and wellness providers to accept CareCredit payments and facilitate new applications at the point of sale. Furthermore, the acquisition of Ally Lending in March 2024 strengthened Synchrony's presence in healthcare financing, along with home improvement, by adding approximately 2,500 merchant locations. * Digital Innovation and Multi-Product Strategy: Synchrony is investing in digital capabilities to enhance customer acquisition and engagement. This includes advancements in its digital wallet strategy, which saw unique active users and digital wallet sales more than double in 2024. The company is also deploying multi-product offerings, such as dual cards and "Pay Later" options, and improving digital application processes (dApply) to streamline financing and expand payment options for consumers. * Adjusted Underwriting and Improved Credit Performance: Synchrony has strategically adjusted its underwriting approach, removing tighter criteria to improve growth rates and enhance credit performance in the coming years. This disciplined approach to credit management, coupled with a stable credit environment and targeted loss guidance, is expected to enable broader lending activities and support overall loan and spending growth.AI Analysis | Feedback
Capital Allocation Decisions for Synchrony Financial (SYF)
Share Repurchases
- Synchrony Financial had significant share repurchases in recent years, with $3.32 billion in 2022, $1.112 billion in 2023, and $1.008 billion in 2024.
- In April 2022, the company authorized an incremental share repurchase program of up to $2.8 billion through June 30, 2023, bringing the total authorization to approximately $3.1 billion.
- An additional $1.3 billion share repurchase authorization was approved in April 2023, commencing through June 30, 2024, which included approximately $300 million remaining from a prior program. More recently, in October 2025, the Board approved a $1 billion increase to its share repurchase authorization, extending the program through June 30, 2026, making $2.1 billion available for repurchases.
Share Issuance
- Synchrony Financial has consistently reduced its outstanding shares over the last few years, indicating no significant share issuances. The number of shares outstanding declined by 6.67% in 2025 to 0.374 billion, by 5.41% in 2024 to 0.401 billion, and by 12.39% in 2023 to 0.424 billion from the previous year.
Inbound Investments
- Information regarding large inbound investments made in Synchrony Financial by third-parties is not readily available within the provided data.
Outbound Investments
- In 2023, Synchrony made an outbound investment by taking a minority ownership stake in Independence Pet Holdings (IPH) as part of a strategic partnership. This agreement also involved IPH acquiring Pets Best, a pet insurance company Synchrony had acquired in 2019.
Capital Expenditures
- Synchrony Financial's investments include technology, with "technology investments" contributing to a 3% increase in "Other Expense" to $1.2 billion in Q1 2025.
- The company is focused on maintaining investments for long-term success, particularly in advanced analytics, AI, and embedded finance, to enhance operational efficiency, mitigate risk, and promote sustainable growth across diverse markets.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 80.85 |
| Mkt Cap | 70.4 |
| Rev LTM | 36,813 |
| Op Inc LTM | - |
| FCF LTM | 6,010 |
| FCF 3Y Avg | 9,120 |
| CFO LTM | 6,997 |
| CFO 3Y Avg | 9,120 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.2% |
| Rev Chg 3Y Avg | 5.4% |
| Rev Chg Q | 8.9% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 47.0% |
| CFO/Rev 3Y Avg | 49.6% |
| FCF/Rev LTM | 32.9% |
| FCF/Rev 3Y Avg | 36.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 70.4 |
| P/S | 1.8 |
| P/Op Inc | - |
| P/EBIT | - |
| P/E | 10.2 |
| P/CFO | 3.6 |
| Total Yield | 12.5% |
| Dividend Yield | 1.6% |
| FCF Yield 3Y Avg | 18.7% |
| D/E | 0.8 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.2% |
| 3M Rtn | -4.3% |
| 6M Rtn | -3.2% |
| 12M Rtn | 18.7% |
| 3Y Rtn | 103.0% |
| 1M Excs Rtn | -10.8% |
| 3M Excs Rtn | -13.5% |
| 6M Excs Rtn | -14.5% |
| 12M Excs Rtn | -11.3% |
| 3Y Excs Rtn | 34.6% |
Price Behavior
| Market Price | $72.00 | |
| Market Cap ($ Bil) | 24.7 | |
| First Trading Date | 07/31/2014 | |
| Distance from 52W High | -18.0% | |
| 50 Days | 200 Days | |
| DMA Price | $71.15 | $73.71 |
| DMA Trend | up | up |
| Distance from DMA | 1.2% | -2.3% |
| 3M | 1YR | |
| Volatility | 32.8% | 29.4% |
| Downside Capture | 164.45 | 133.44 |
| Upside Capture | 114.51 | 122.72 |
| Correlation (SPY) | 60.3% | 58.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.66 | 1.14 | 1.31 | 1.30 | 1.54 | 1.42 |
| Up Beta | 1.60 | 1.52 | 1.41 | 1.58 | 2.00 | 1.56 |
| Down Beta | 2.90 | 0.68 | 0.84 | 1.19 | 1.50 | 1.61 |
| Up Capture | 141% | 129% | 148% | 129% | 162% | 231% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 14 | 26 | 37 | 69 | 139 | 405 |
| Down Capture | 278% | 90% | 133% | 118% | 120% | 104% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 17 | 27 | 56 | 113 | 346 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SYF | |
|---|---|---|---|---|
| SYF | 22.4% | 29.7% | 0.69 | - |
| Sector ETF (XLF) | 2.3% | 14.6% | -0.06 | 75.7% |
| Equity (SPY) | 26.8% | 12.1% | 1.67 | 58.5% |
| Gold (GLD) | 37.5% | 26.8% | 1.16 | -3.5% |
| Commodities (DBC) | 43.5% | 18.6% | 1.80 | -23.4% |
| Real Estate (VNQ) | 12.0% | 13.4% | 0.59 | 34.3% |
| Bitcoin (BTCUSD) | -27.2% | 41.8% | -0.65 | 27.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SYF | |
|---|---|---|---|---|
| SYF | 11.5% | 36.7% | 0.38 | - |
| Sector ETF (XLF) | 8.3% | 18.6% | 0.33 | 77.1% |
| Equity (SPY) | 13.8% | 17.0% | 0.64 | 63.7% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | -0.5% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | 14.0% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 46.2% |
| Bitcoin (BTCUSD) | 9.3% | 55.6% | 0.37 | 26.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SYF | |
|---|---|---|---|---|
| SYF | 12.0% | 39.5% | 0.42 | - |
| Sector ETF (XLF) | 12.7% | 22.2% | 0.53 | 78.7% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 66.0% |
| Gold (GLD) | 13.2% | 16.0% | 0.68 | -3.1% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 22.8% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 55.2% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 19.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/21/2026 | -1.2% | -2.3% | -11.3% |
| 1/27/2026 | -5.8% | -5.1% | -5.7% |
| 10/15/2025 | -0.7% | 1.6% | 4.1% |
| 7/22/2025 | 1.8% | 4.9% | 3.5% |
| 4/22/2025 | 2.8% | 10.5% | 27.4% |
| 1/28/2025 | -4.6% | -3.0% | -14.2% |
| 10/16/2024 | 6.1% | 4.5% | 22.8% |
| 7/17/2024 | 1.0% | -1.7% | -9.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 15 | 14 |
| # Negative | 11 | 9 | 10 |
| Median Positive | 2.6% | 4.5% | 9.7% |
| Median Negative | -4.4% | -3.7% | -5.4% |
| Max Positive | 6.2% | 10.5% | 27.4% |
| Max Negative | -6.8% | -7.5% | -14.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/23/2026 | 10-Q |
| 12/31/2025 | 02/06/2026 | 10-K |
| 09/30/2025 | 10/22/2025 | 10-Q |
| 06/30/2025 | 07/23/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/07/2025 | 10-K |
| 09/30/2024 | 10/23/2024 | 10-Q |
| 06/30/2024 | 07/19/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-K |
| 09/30/2023 | 10/24/2023 | 10-Q |
| 06/30/2023 | 07/21/2023 | 10-Q |
| 03/31/2023 | 04/20/2023 | 10-Q |
| 12/31/2022 | 02/09/2023 | 10-K |
| 09/30/2022 | 10/25/2022 | 10-Q |
| 06/30/2022 | 07/21/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 4/21/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Dividends | 0.34 | 13.3% | Higher New | Actual: 0.3 for Q2 2026 | |||
| 2026 Share Repurchases | 6.50 Bil | 441.7% | Raised | Guidance: 1.20 Bil for 2026 | |||
Prior: Q4 2025 Earnings Reported 1/27/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Share Repurchase Authorization | 1.20 Bil | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mothner, Jonathan S | See remarks | Direct | Sell | 5192026 | 71.23 | 51,258 | 3,651,107 | 9,449,657 | Form |
| 2 | Howse, Curtis | See remarks | Direct | Sell | 5052026 | 76.55 | 8,436 | 645,776 | 6,616,752 | Form |
| 3 | Coviello, Arthur W JR | Direct | Sell | 5052026 | 76.55 | 4,000 | 306,200 | 2,246,054 | Form | |
| 4 | Casellas, Alberto | See remarks | Direct | Sell | 5052026 | 76.55 | 5,794 | 443,531 | 3,852,838 | Form |
| 5 | Wenzel, Brian J SR | See remarks | Direct | Sell | 3032026 | 67.16 | 47,112 | 3,164,042 | 4,313,082 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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