Synchrony Financial
Issues partner-based cards and point-of-sale financing across retail, digital, healthcare, and lifestyle markets.
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Profile
Issues private-label and co-branded cards, commercial credit, and installment loans through retail, digital, home, automotive, healthcare, and lifestyle partnerships. Interest and fees on receivables drive revenue, while Synchrony Bank deposits fund most lending and the U.S.-focused portfolio remains concentrated among several major partner programs.
Issues private-label and co-branded credit cards, commercial credit products, and consumer installment loans through retail, digital, home and auto, healthcare, and lifestyle partners. CareCredit serves elective health, wellness, and veterinary purchases, while Synchrony Bank offers insured savings products that fund most lending activity.
Long-running merchant programs, embedded point-of-sale tools, digital underwriting, and account servicing support credit at checkout and partner loyalty offers. Operations are managed as a single segment, with substantially all revenue-generating activity in the United States across Home & Auto, Digital, Diversified & Value, Health & Wellness, and Lifestyle.
Revenue comes chiefly from interest and fees on receivables; promotional-financing merchants also pay discounts, and broader-use cards generate interchange. Results depend on consumer credit performance, deposit funding, bank and consumer-finance regulation, and retaining a concentrated group of major programs.
Company facts
Categories
Key statistics
Year to date −7.8% · Average volume (30d) 3.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 25, 2026 | Wolfe Research | Reiterate | Outperform | $50 | $90 | |
| Aug 3, 2026 | UBS | Reiterate | Neutral | $82 | $87 | |
| Jul 22, 2026 | Deutsche Bank | Reiterate | Buy | $68 | $104 | |
| Jul 22, 2026 | RBC Capital | Reiterate | Sector Perform | $85 | $80 | |
| Jul 22, 2026 | Robert W. Baird | Target | $83 | $90 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 21, 2026Q2 FY26 | $2.14 | $2.59 | +21.0% | $3.72B | $3.72B | −0.2% | +0.83% |
| Apr 21, 2026Q1 FY26 | $2.22 | $2.27 | +2.3% | $3.79B | $3.70B | −2.4% | +1.37% |
| Jan 27, 2026Q4 FY25 | $2.05 | $2.07 | +1.0% | $3.84B | $3.79B | −1.2% | +0.58% |
| Oct 15, 2025Q3 FY25 | $2.26 | $2.86 | +26.5% | $3.80B | $4.83B | +27.3% | −2.86% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.80B | $4.71B | $4.83B | $4.77B | $4.67B | $4.69B | |
| Gross profit | $2.23B | $2.50B | $2.68B | $2.35B | $2.36B | $2.52B | |
| Operating income | $984.0M | $1.26B | $1.43B | $952.0M | $1.05B | $1.19B | |
| Net income | $757.0M | $967.0M | $1.08B | $751.0M | $805.0M | $885.0M | |
| Diluted EPS | $1.89 | $2.50 | $2.86 | $2.04 | $2.27 | $2.59 | |
| Gross margin | 46.4% | 53.1% | 55.4% | 49.3% | 50.6% | 53.6% | |
| Operating margin | 20.5% | 26.7% | 29.6% | 20.0% | 22.4% | 25.3% |
Fiscal years (4-quarter sums)FY21 $11.22B · FY22 $13.20B · FY23 $17.34B · FY24 $19.69B · FY25 $19.12B
Balance sheet, Jun 30, 2026Cash & short-term investments $16.19B · Total debt $16.43B · Total assets $121.93B · Shareholders' equity $16.90B
Dividends
Raised for 8 straight years — most recently to $0.34 from $0.30 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 5, 2026 | Aug 5 | Aug 17 | $0.34 | raised from $0.30 |
| May 5, 2026 | May 5 | May 15 | $0.30 | |
| Feb 6, 2026 | Feb 6 | Feb 17 | $0.30 | |
| Nov 5, 2025 | Nov 5 | Nov 17 | $0.30 | |
| Aug 5, 2025 | Aug 5 | Aug 15 | $0.30 | |
| May 5, 2025 | May 5 | May 15 | $0.30 | raised from $0.25 |
| Feb 3, 2025 | Feb 3 | Feb 18 | $0.25 | |
| Nov 4, 2024 | Nov 4 | Nov 15 | $0.25 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 325.37M · Float 323.68M · 99.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 30.89M | 9.49% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 22.01M | 6.77% | 13F | Aug 13, 2026 |
| Capital World Investors | 18.92M | 5.81% | 13F | Aug 12, 2026 |
| Vanguard Portfolio Management LLC | 18.09M | 5.56% | 13F | Aug 13, 2026 |
| State Street Corp | 17.73M | 5.45% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 13, 2026 | Alberto Casellas | officer: See remarks | −5,456 | $80.00 |
| Aug 3, 2026 | Arthur W. Jr Coviello | director | −4,000 | $77.17 |
| Aug 3, 2026 | Courtney Gentleman | officer: See remarks | −721 | $76.73 |
| Aug 3, 2026 | Darrell Owens | officer: See remarks | −610 | $76.73 |
| May 15, 2026 | Jonathan S. Mothner | officer: See remarks | −11,258 | $71.23 |
Peers
- Bread Financial
Private-label, co-brand, and merchant-financing card peer
- Capital One
Large card issuer and digital bank across cards, deposits, and networks
- Citi
Overlaps in private-label, co-brand, general-purpose cards, and deposits
- JPMorgan Chase
Chase card, co-brand, banking and payments overlap with Synchrony
- American Express
Premium card and merchant-network rival across spend, partners, and deposits
- Affirm
Merchant checkout financing and pay-over-time loans
- SoFi
Digital bank/lender competing for loans, deposits, cards, and app use
- Ally Financial
Auto finance and online deposits overlap after card exit
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Synchrony Financial | $80.54 | +3.19% | $25.40B | 8.0 | 8.2 | 1.3 | −21.1% |
| Bread Financial | $105.74 | −0.13% | $4.27B | 8.2 | 8.6 | 0.9 | +7.2% |
| Capital One | $223.60 | +3.64% | $132.31B | 13.3 | 9.9 | 1.7 | +26.0% |
| Citi | $132.62 | −0.19% | $227.81B | 14.3 | 11.4 | 1.3 | +14.3% |
| JPMorgan Chase | $357.66 | +0.05% | $958.25B | 15.4 | 14.8 | 3.2 | +27.8% |
| American Express | $333.50 | +0.10% | $225.01B | 20.2 | 17.9 | 2.7 | +10.0% |
| Affirm | $77.40 | −0.37% | $26.04B | 70.7 | 44.6 | 6.6 | +33.0% |
| SoFi | $18.08 | +0.22% | $23.17B | 37.6 | 24.5 | 4.1 | +41.0% |
| Ally Financial | $42.18 | 0.00% | $12.83B | 9.9 | 7.1 | 0.8 | −0.3% |
| Median | 14.9 | 13.1 | 2.2 | +20.2% |