Synchrony Financial (SYF)


Market Price (10/2/2026): $71.78 | Market Cap: $23.8 BilInvestor Relations Sector: Financials | Industry: Consumer Finance

Synchrony Financial (SYF)


Market Price (10/2/2026): $71.78
Market Cap: $23.8 Bil
Sector: Financials
Industry: Consumer Finance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 41%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 64%, CFO LTM is 9.7 Bil, FCF LTM is 9.7 Bil

Stock buyback support
Stock Buyback 3Y Total is 6.1 Bil

Low stock price volatility
Vol 12M is 32%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments, and AI in Financial Services. Themes include Digital Payments, Online Banking & Lending, Show more.

Key risks
SYF key risks include [1] adverse regulatory actions from bodies like the CFPB, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 17%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 13%, FCF Yield is 41%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 64%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 64%, CFO LTM is 9.7 Bil, FCF LTM is 9.7 Bil
2 Stock buyback support
Stock Buyback 3Y Total is 6.1 Bil
3 Low stock price volatility
Vol 12M is 32%
4 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments, and AI in Financial Services. Themes include Digital Payments, Online Banking & Lending, Show more.
5 Key risks
SYF key risks include [1] adverse regulatory actions from bodies like the CFPB, Show more.

SYF in ETFs

Weight = SYF's share of each fund

SPY0.03%
VOO0.04%
IVV0.04%
VTI0.04%
ITOT0.03%
IWB0.03%
RSP0.19%
VTV0.09%
+26 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

Synchrony Financial (SYF) stock has lost about 5% since 6/30/2026 because of the following key factors:

1. Macroeconomic headwinds, including surging Treasury yields and inflation concerns, pressured the broader financial sector.

Synchrony Financial's stock movement since the end of fiscal Q2 2026 has been significantly influenced by a volatile macroeconomic environment. Surging Treasury yields, with the 10-year yield hitting 5.10% (the highest since 2007), and multi-decade highs for 30-year yields, stoked inflation concerns following stronger-than-expected business activity reports. This macro backdrop led to a broad financial-sector selloff as investors rotated out of rate-sensitive financials. Elevated oil prices also contributed to pressure on financials.

2. Despite an earnings per share beat, Synchrony's Q2 2026 revenue met, rather than exceeded, analyst expectations, potentially limiting positive momentum in a challenging market.

For its fiscal Q2 2026, which ended on June 30, 2026, Synchrony Financial reported earnings on July 21, 2026. The company posted an Earnings Per Share (EPS) of $2.59, surpassing the consensus estimate of $2.14 by $0.45. However, quarterly revenue was reported at $3.72 billion, which met, but did not exceed, analyst estimates. In a broader market facing significant macroeconomic pressures, a revenue performance that merely met expectations, even with a strong EPS beat, likely offered limited upward momentum for the stock and may have contributed to the overall decline.

Show more
Updated on 10/1/2026

Synchrony Financial (SYF) stock has lost about 5% since 6/30/2026 because of the following key factors:

1. Macroeconomic headwinds, including surging Treasury yields and inflation concerns, pressured the broader financial sector.

Synchrony Financial's stock movement since the end of fiscal Q2 2026 has been significantly influenced by a volatile macroeconomic environment. Surging Treasury yields, with the 10-year yield hitting 5.10% (the highest since 2007), and multi-decade highs for 30-year yields, stoked inflation concerns following stronger-than-expected business activity reports. This macro backdrop led to a broad financial-sector selloff as investors rotated out of rate-sensitive financials. Elevated oil prices also contributed to pressure on financials.

2. Despite an earnings per share beat, Synchrony's Q2 2026 revenue met, rather than exceeded, analyst expectations, potentially limiting positive momentum in a challenging market.

For its fiscal Q2 2026, which ended on June 30, 2026, Synchrony Financial reported earnings on July 21, 2026. The company posted an Earnings Per Share (EPS) of $2.59, surpassing the consensus estimate of $2.14 by $0.45. However, quarterly revenue was reported at $3.72 billion, which met, but did not exceed, analyst estimates. In a broader market facing significant macroeconomic pressures, a revenue performance that merely met expectations, even with a strong EPS beat, likely offered limited upward momentum for the stock and may have contributed to the overall decline.

3. Analyst price target adjustments, despite an overall positive sentiment, reflected market caution.

While several analysts maintained "Buy" ratings and high price targets for Synchrony Financial during the period, some adjustments indicated caution. For example, on October 1, 2026, Evercore ISI lowered its price target on SYF to $80 from $86, though maintaining an Outperform rating. This adjustment, alongside the broader consumer-finance sector pressure, suggests that even with largely bullish long-term views, market participants were sensitive to immediate headwinds.

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Stock Movement Drivers

Fundamental Drivers

The -5.6% change in SYF stock from 6/30/2026 to 10/1/2026 was primarily driven by a -6.5% change in the company's P/E Multiple.
(LTM values as of)630202610012026Change
Stock Price ($)75.7271.51-5.6%
Change Contribution By: 
Total Revenues ($ Mil)14,96115,0320.5%
Net Income Margin (%)24.1%23.4%-2.7%
P/E Multiple7.26.7-6.5%
Shares Outstanding (Mil)3423313.4%
Cumulative Contribution-5.6%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/1/2026
ReturnCorrelation
SYF-5.6% 
Market (SPY)2.3%47.5%
Sector (XLF)-0.3%70.2%

Fundamental Drivers

The 6.0% change in SYF stock from 3/31/2026 to 10/1/2026 was primarily driven by a 6.4% change in the company's Shares Outstanding (Mil).
(LTM values as of)331202610012026Change
Stock Price ($)67.4571.516.0%
Change Contribution By: 
Total Revenues ($ Mil)14,98115,0320.3%
Net Income Margin (%)23.7%23.4%-1.3%
P/E Multiple6.76.70.6%
Shares Outstanding (Mil)3523316.4%
Cumulative Contribution6.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/1/2026
ReturnCorrelation
SYF6.0% 
Market (SPY)17.8%49.8%
Sector (XLF)8.7%67.4%

Fundamental Drivers

The 2.3% change in SYF stock from 9/30/2025 to 10/1/2026 was primarily driven by a 13.6% change in the company's Shares Outstanding (Mil).
(LTM values as of)930202510012026Change
Stock Price ($)69.8971.512.3%
Change Contribution By: 
Total Revenues ($ Mil)13,91115,0328.1%
Net Income Margin (%)23.6%23.4%-1.0%
P/E Multiple8.06.7-15.8%
Shares Outstanding (Mil)37633113.6%
Cumulative Contribution2.3%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/1/2026
ReturnCorrelation
SYF2.3% 
Market (SPY)15.6%50.7%
Sector (XLF)0.4%72.0%

Fundamental Drivers

The 148.6% change in SYF stock from 9/30/2023 to 10/1/2026 was primarily driven by a 35.7% change in the company's P/E Multiple.
(LTM values as of)930202310012026Change
Stock Price ($)28.7671.51148.6%
Change Contribution By: 
Total Revenues ($ Mil)12,50115,03220.2%
Net Income Margin (%)19.6%23.4%19.4%
P/E Multiple5.06.735.7%
Shares Outstanding (Mil)42333127.6%
Cumulative Contribution148.6%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/1/2026
ReturnCorrelation
SYF148.6% 
Market (SPY)84.9%60.9%
Sector (XLF)68.2%74.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
SYF Return36%-27%20%74%31%-14%132%
Peers Return39%-29%27%48%30%-6%127%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
SYF Win Rate58%50%58%75%67%33% 
Peers Win Rate65%43%57%67%65%36% 
S&P 500 Win Rate75%42%67%75%67%44% 

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 10/1/2026 (YTD)

How Low Can It Go

EventSYFS&P 500
2025 US Tariff Shock
  % Loss-33.2%-18.8%
  % Gain to Breakeven49.7%23.1%
  Time to Breakeven83 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-21.6%-9.5%
  % Gain to Breakeven27.5%10.5%
  Time to Breakeven44 days24 days
2023 SVB Regional Banking Crisis
  % Loss-27.2%-6.7%
  % Gain to Breakeven37.3%7.1%
  Time to Breakeven223 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-40.6%-24.5%
  % Gain to Breakeven68.3%32.4%
  Time to Breakeven664 days427 days
2020 COVID-19 Crash
  % Loss-61.6%-33.7%
  % Gain to Breakeven160.7%50.9%
  Time to Breakeven256 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-29.7%-19.2%
  % Gain to Breakeven42.3%23.8%
  Time to Breakeven53 days105 days

Compare to COF, AXP, BFH, ALLY, WFC

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.

EventSYFS&P 500
2025 US Tariff Shock
  % Loss-33.2%-18.8%
  % Gain to Breakeven49.7%23.1%
  Time to Breakeven83 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-21.6%-9.5%
  % Gain to Breakeven27.5%10.5%
  Time to Breakeven44 days24 days
2023 SVB Regional Banking Crisis
  % Loss-27.2%-6.7%
  % Gain to Breakeven37.3%7.1%
  Time to Breakeven223 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-40.6%-24.5%
  % Gain to Breakeven68.3%32.4%
  Time to Breakeven664 days427 days
2020 COVID-19 Crash
  % Loss-61.6%-33.7%
  % Gain to Breakeven160.7%50.9%
  Time to Breakeven256 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-29.7%-19.2%
  % Gain to Breakeven42.3%23.8%
  Time to Breakeven53 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-30.7%-12.2%
  % Gain to Breakeven44.3%13.9%
  Time to Breakeven297 days62 days

Compare to COF, AXP, BFH, ALLY, WFC

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)

Synchrony Financial (SYF) is a prominent U.S. consumer financial services company that specializes in providing a variety of credit products and payment solutions. It primarily operates by establishing partnerships with national and regional retailers, local merchants, manufacturers, and healthcare providers to offer financing options directly to their customers at the point of sale.

The company's main products and services include private label credit cards, co-brand credit cards, and short- and long-term installment loans tailored for specific industries such as retail, home, auto, and health and wellness. Notable offerings include CareCredit and Pets Best, which provide specialized financing for healthcare and veterinary expenses. Beyond lending, Synchrony also functions as a digital bank, accepting deposits through certificates of deposit, money market accounts, and savings accounts from retail and commercial customers, which are crucial for funding its credit operations.

Synchrony's primary customers and markets span a broad range of sectors, including digital commerce, health and wellness, general retail, home improvement, automotive, and jewelry. By integrating its financial solutions into the purchasing journeys of these diverse partners, Synchrony enables sales, supports business growth, and provides accessible financing to millions of consumers across the United States.

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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AI Analysis | Feedback

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.

  1. 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.
  2. 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.
  3. 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.

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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.

Peer Outperformance in Consumer Finance

SYF has outperformed 62% of its 13 Consumer Finance peers over 5Y. Consumer Finance ranks 11th of 16 industries in Financials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Consumer Finance constituents that SYF has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
54%
of 13 industry peers · 4.1% return
3Y
69%
of 13 industry peers · 150.3% return
5Y
62%
of 13 industry peers · 60.1% return
No Consumer Finance peer with a comparable growth profile has beaten SYF by more than 20pp over 5Y.
Median price return by industry across the Financials sector, ranked by 5Y. Consumer Finance is SYF's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 5 26.6%69.2%134.7% SPNT 161% · RNR 140% · RGA 135%
Investment Banking & Brokerage 13 -3.5%98.2%105.0% IBKR 446% · SNEX 235% · GS 166%
Life & Health Insurance 12 15.5%55.9%97.6% JXN 531% · UNM 296% · FG 192%
Property & Casualty Insurance 25 -0.4%66.9%76.1% TRV 161% · ACGL 160% · UFCS 160%
Multi-Sector Holdings 3 0.5%43.8%70.0% BRK-B 82% · VOYA 70% · JEF 46%
Asset Management & Custody Banks 24 10.2%59.5%67.2% WT 347% · VCTR 273% · AAMI 264%
Multi-line Insurance 8 4.0%63.4%54.9% GNW 140% · L 93% · AIZ 82%
Commercial & Residential Mortgage Finance 3 -0.9%33.7%43.7% ACT 154% · ESNT 44% · WD -65%
Diversified Banks 7 9.3%116.2%41.0% JPM 126% · C 112% · WFC 93%
Regional Banks 89 16.4%79.9%39.4% FBP 135% · OFG 126% · NIC 125%
Consumer Finance ← 14 2.7%111.7%35.5% ENVA 378% · EZPW 297% · FCFS 151%
Financial Exchanges & Data 13 -2.0%44.0%30.3% VIRT 168% · CBOE 140% · CME 66%
Insurance Brokers 8 -25.3%-10.5%19.6% AJG 60% · ERIE 33% · WTW 29%
Specialized Finance 3 6.8%38.3%-12.0% EFC 18% · CACC -12% · HASI -17%
Mortgage REITs 9 -18.7%4.0%-14.1% RITM 33% · AGNC 13% · NLY 10%
Transaction & Payment Processing Services 17 -3.5%-9.0%-45.4% V 62% · MA 57% · CPAY 46%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

SYFCOFAXPBFHALLYWFCMedian
NameSynchron.Capital .American.Bread Fi.Ally Fin.Wells Fa. 
Mkt Price71.78194.71302.2797.9537.9180.4889.22
Mkt Cap23.8120.8204.93.911.7245.072.3
Rev LTM15,03261,93875,9523,9579,62986,79638,485
Op Inc LTM-------
FCF LTM9,69429,70115,0522,19376219,17012,373
FCF 3Y Avg9,70023,45016,4852,06869911,22010,460
CFO LTM9,69431,45218,4752,1934,56619,17014,084
CFO 3Y Avg9,70024,85818,8892,0724,17311,22010,460

Growth & Margins

SYFCOFAXPBFHALLYWFCMedian
NameSynchron.Capital .American.Bread Fi.Ally Fin.Wells Fa. 
Rev Chg LTM8.1%45.1%10.7%3.9%12.3%6.5%9.4%
Rev Chg 3Y Avg6.7%21.2%10.0%-2.4%1.6%2.4%4.6%
Rev Chg Q1.9%26.9%10.0%6.9%11.4%10.0%10.0%
QoQ Delta Rev Chg LTM0.5%5.7%2.4%1.6%2.8%2.4%2.4%
Op Inc Chg LTM-------
Op Inc Chg 3Y Avg-------
Op Mgn LTM-------
Op Mgn 3Y Avg-------
QoQ Delta Op Mgn LTM-------
CFO/Rev LTM64.5%50.8%24.3%55.4%47.4%22.1%49.1%
CFO/Rev 3Y Avg67.0%53.0%27.7%52.9%46.3%13.1%49.6%
FCF/Rev LTM64.5%48.0%19.8%55.4%7.9%22.1%35.0%
FCF/Rev 3Y Avg67.0%50.0%24.3%52.8%7.7%13.1%37.1%

Valuation

SYFCOFAXPBFHALLYWFCMedian
NameSynchron.Capital .American.Bread Fi.Ally Fin.Wells Fa. 
Mkt Cap23.8120.8204.93.911.7245.072.3
P/S1.62.02.71.01.22.81.8
P/Op Inc-------
P/EBIT-------
P/E6.811.517.96.98.010.89.4
P/CFO2.53.811.11.82.612.83.2
Total Yield16.6%10.3%6.8%15.9%15.8%11.5%13.7%
Dividend Yield1.8%1.6%1.2%1.2%3.3%2.3%1.7%
FCF Yield 3Y Avg42.8%27.7%8.5%72.6%5.4%5.2%18.1%
D/E0.70.40.30.81.90.80.8
Net D/E-0.1-0.10.1-0.1-0.40.0-0.1

Returns

SYFCOFAXPBFHALLYWFCMedian
NameSynchron.Capital .American.Bread Fi.Ally Fin.Wells Fa. 
1M Rtn-6.3%-7.9%-6.8%-4.0%-9.4%-7.5%-7.1%
3M Rtn-5.6%-4.7%-14.1%-4.0%-15.8%-5.3%-5.4%
6M Rtn5.8%7.9%1.0%34.8%-3.5%1.0%3.4%
12M Rtn4.5%-7.4%-7.0%80.5%0.6%1.7%1.2%
3Y Rtn151.2%114.4%109.4%204.7%62.7%118.5%116.5%
1M Excs Rtn-6.8%-8.3%-7.2%-4.5%-9.9%-8.0%-7.6%
3M Excs Rtn-8.0%-7.2%-16.6%-6.4%-18.2%-7.8%-7.9%
6M Excs Rtn-10.7%-10.3%-15.7%17.0%-20.1%-15.6%-13.2%
12M Excs Rtn-12.0%-21.6%-22.7%62.9%-15.2%-16.6%-15.9%
3Y Excs Rtn65.7%30.6%27.7%121.7%-20.8%33.3%31.9%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Single Segment16,12513,62711,67410,19214,807
Total16,12513,62711,67410,19214,807


Net Income by Segment
$ Mil202520242023
Single Segment3,5523,4992,238
Total3,5523,4992,238


Price Behavior

Price Behavior
Market Price$71.51 
Market Cap ($ Bil)23.7 
First Trading Date07/31/2014 
Distance from 52W High-18.2% 
   50 Days200 Days
DMA Price$76.65$74.27
DMA Trendindeterminateup
Distance from DMA-6.7%-3.7%
 3M1YR
Volatility33.4%31.7%
Downside Capture224.19132.05
Upside Capture161.47114.97
Correlation (SPY)47.7%50.7%
SYF Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta1.231.371.431.251.231.41
Up Beta-2.240.510.271.251.391.52
Down Beta2.242.621.410.781.191.59
Up Capture110%123%168%124%112%215%
Bmk +ve Days6162766132424
Stock +ve Days9203366135404
Down Capture232%199%200%150%120%105%
Bmk -ve Days16263760120328
Stock -ve Days13223160117347

[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
SYF2.3%31.7%0.10-
Sector ETF (XLF)0.5%14.8%-0.1972.0%
Equity (SPY)15.7%13.0%0.8550.7%
Gold (GLD)7.7%29.6%0.2512.3%
Commodities (DBC)43.7%20.8%1.64-32.3%
Real Estate (VNQ)1.2%13.6%-0.1633.4%
Bitcoin (BTCUSD)-27.0%44.5%-0.5825.8%

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
SYF9.9%36.8%0.34-
Sector ETF (XLF)8.8%18.3%0.3576.1%
Equity (SPY)13.0%17.2%0.5763.3%
Gold (GLD)18.6%18.9%0.801.9%
Commodities (DBC)10.3%19.6%0.408.0%
Real Estate (VNQ)0.4%18.9%-0.0846.4%
Bitcoin (BTCUSD)13.2%52.3%0.4328.8%

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
SYF12.8%39.5%0.43-
Sector ETF (XLF)12.7%22.1%0.5278.6%
Equity (SPY)15.3%17.9%0.7265.8%
Gold (GLD)11.6%16.4%0.58-0.7%
Commodities (DBC)8.2%18.1%0.3720.6%
Real Estate (VNQ)4.4%20.7%0.1755.3%
Bitcoin (BTCUSD)63.9%66.2%1.0420.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity18.8 Mil
Short Interest: % Change Since 83120265.5%
Average Daily Volume2.7 Mil
Days-to-Cover Short Interest6.9 days
Basic Shares Quantity331.3 Mil
Short % of Basic Shares5.7%

Earnings Returns History

Updated 9/14/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/21/2026-1.6%2.6%10.2%
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%
7/22/20251.8%4.9%3.5%
4/22/20252.8%10.5%27.4%
1/28/2025-4.6%-3.0%-14.2%
10/16/20246.1%4.5%22.8%
...
SUMMARY STATS   
# Positive121514
# Negative12910
Median Positive2.7%4.1%10.7%
Median Negative-3.4%-3.7%-5.4%
Max Positive6.2%10.5%27.4%
Max Negative-6.8%-7.5%-14.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/21/2026-1.6%2.6%10.2%
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%
7/22/20251.8%4.9%3.5%
4/22/20252.8%10.5%27.4%
1/28/2025-4.6%-3.0%-14.2%
10/16/20246.1%4.5%22.8%
7/17/20241.0%-1.7%-9.9%
4/24/20245.0%2.6%2.2%
1/23/2024-0.9%3.8%5.7%
10/24/2023-4.4%-1.0%3.9%
7/18/20231.9%0.9%-5.0%
4/19/20231.8%-3.7%-4.2%
1/23/2023-2.4%4.7%-0.6%
10/25/20225.7%8.2%11.1%
7/18/20220.3%4.1%14.7%
4/18/20226.2%0.7%-11.5%
1/28/2022-6.8%-4.9%-3.2%
10/19/20212.6%-4.2%-2.3%
7/20/20212.7%5.2%13.7%
4/27/2021-1.8%5.9%12.1%
1/29/2021-6.2%4.1%12.1%
10/20/2020-5.1%-7.5%6.0%
SUMMARY STATS   
# Positive121514
# Negative12910
Median Positive2.7%4.1%10.7%
Median Negative-3.4%-3.7%-5.4%
Max Positive6.2%10.5%27.4%
Max Negative-6.8%-7.5%-14.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/23/202610-Q
03/31/202604/23/202610-Q
12/31/202502/06/202610-K
09/30/202510/22/202510-Q
06/30/202507/23/202510-Q
03/31/202504/24/202510-Q
12/31/202402/07/202510-K
09/30/202410/23/202410-Q
06/30/202407/19/202410-Q
03/31/202404/25/202410-Q
12/31/202302/08/202410-K
09/30/202310/24/202310-Q
06/30/202307/21/202310-Q
03/31/202304/20/202310-Q
12/31/202202/09/202310-K
09/30/202210/25/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/23/202610-Q
03/31/202604/23/202610-Q
12/31/202502/06/202610-K
09/30/202510/22/202510-Q
06/30/202507/23/202510-Q
03/31/202504/24/202510-Q
12/31/202402/07/202510-K
09/30/202410/23/202410-Q
06/30/202407/19/202410-Q
03/31/202404/25/202410-Q
12/31/202302/08/202410-K
09/30/202310/24/202310-Q
06/30/202307/21/202310-Q
03/31/202304/20/202310-Q
12/31/202202/09/202310-K
09/30/202210/25/202210-Q
06/30/202207/21/202210-Q
03/31/202204/21/202210-Q
12/31/202102/10/202210-K
09/30/202110/21/202110-Q
06/30/202107/22/202110-Q
03/31/202104/27/202110-Q
12/31/202002/11/202110-K
09/30/202010/22/202010-Q
06/30/202007/23/202010-Q
03/31/202004/22/202010-Q
12/31/201902/13/202010-K
09/30/201910/25/201910-Q

Recent Forward Guidance

Updated 7/22/2026

Latest: Q2 2026 Earnings Reported 7/21/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Share RepurchasesReported 5.70 Bil -12.3% LoweredGuidance: 6.50 Bil for 2026


Prior: Q1 2026 Earnings Reported 4/21/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Share RepurchasesReported 6.50 Bil 441.7% RaisedGuidance: 1.20 Bil for 2026
Q3 2026 DividendsReported 0.34   Higher New

Q4 2025 Earnings Reported 1/27/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Share Repurchase AuthorizationReported 1.20 Bil    

Q3 2025 Earnings Reported 10/15/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Lowe's commercial co-branded credit card portfolio acquisition closingReported      

Insider Activity

Updated 10/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Casellas, AlbertoSee remarksDirectSell817202680.005,456436,4804,040,960Form
2Owens, DarrellSee remarksDirectSell804202676.7361046,8051,259,139Form
3Gentleman, CourtneySee remarksDirectSell804202676.7372155,3221,428,713Form
4Coviello, Arthur W JR DirectSell804202677.174,000308,6802,017,532Form
5Mothner, Jonathan SSee remarksDirectSell519202671.2351,2583,651,1079,449,657Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Casellas, AlbertoSee remarksDirectSell817202680.005,456436,4804,040,960Form
2Owens, DarrellSee remarksDirectSell804202676.7361046,8051,259,139Form
3Gentleman, CourtneySee remarksDirectSell804202676.7372155,3221,428,713Form
4Coviello, Arthur W JR DirectSell804202677.174,000308,6802,017,532Form
5Mothner, Jonathan SSee remarksDirectSell519202671.2351,2583,651,1079,449,657Form
6Howse, CurtisSee remarksDirectSell505202676.558,436645,7766,616,752Form
7Coviello, Arthur W JR DirectSell505202676.554,000306,2002,246,054Form
8Casellas, AlbertoSee remarksDirectSell505202676.555,794443,5313,852,838Form
9Wenzel, Brian J SRSee remarksDirectSell303202667.1647,1123,164,0424,313,082Form
10Gentleman, CourtneySee remarksDirectSell303202667.714,338293,7261,342,757Form
11Schaller, BartSee remarksDirectSell303202667.7112,980878,8762,304,510Form
12Juel, CarolSee remarksDirectSell303202667.7116,8591,141,5233,483,409Form
13Howse, CurtisSee remarksDirectSell303202667.717,882533,6906,423,851Form
14Owens, DarrellSee remarksDirectSell303202667.713,865261,6991,180,321Form
15Wenzel, Brian J SRSee remarksDirectSell303202667.7119,5801,325,7627,538,357Form
16Casellas, AlbertoSee remarksDirectSell303202667.7114,399974,9563,407,912Form
17Doubles, Brian DSee remarksDirectSell303202668.68217,55414,941,86956,951,958Form
18Juel, CarolSee remarksDirectSell219202670.6044,4113,135,4174,149,374Form
19Gentleman, CourtneySee remarksDirectSell219202670.6012,045850,3771,260,422Form
20Casellas, AlbertoSee remarksDirectSell219202670.6041,5142,930,8884,048,063Form
21Schaller, BartSee remarksDirectSell219202670.6035,3002,492,1802,986,380Form
22Owens, DarrellSee remarksDirectSell219202670.6010,304727,4621,146,050Form
23Howse, CurtisSee remarksDirectSell204202672.3252,5563,800,8506,812,255Form
24Coviello, Arthur W JR DirectSell204202672.324,000289,2802,346,350Form
25Mothner, Jonathan SSee remarksDirectSell1119202572.8032,0002,329,6009,252,880Form
26Owens, DarrellSee remarksDirectSell1105202574.022,989221,2461,191,426Form
27Coviello, Arthur W JR DirectSell1105202573.938,000591,4402,644,402Form
28Howse, CurtisSee remarksDirectSell1105202574.0212,086894,6068,014,219Form

Investor Activity (13F)

Updated Oct 2, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Par Capital Management Inc$517.8 Mil15.1%45Hold13F
Solel Partners LP$50.3 Mil10.7%19Hold13F
PARUS FINANCE (UK) Ltd$22.2 Mil6.6%37ADD +9.5%13F
Khrom Capital Management LLC$35.0 Mil3.2%14TRIM -44.6%13F
Cambridge Financial Group, Inc.$7.0 Mil2.6%33Hold13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
PARUS FINANCE (UK) Ltd$22.2 Mil6.6%37ADD +9.5%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Azora Capital LP$55.7 Mil3.5%47ExitedDec 31, 202513F
Khrom Capital Management LLC$35.0 Mil3.2%14TRIM -44.6%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Par Capital Management Inc$517.8 Mil15.1%45Hold13F
Solel Partners LP$50.3 Mil10.7%19Hold13F
Khrom Capital Management LLC$35.0 Mil3.2%14TRIM -44.6%13F
PARUS FINANCE (UK) Ltd$22.2 Mil6.6%37ADD +9.5%13F
Cambridge Financial Group, Inc.$7.0 Mil2.6%33Hold13F
Core Cache Last Updated: 10/1/2026