Industry: Consumer Financial Services
Fortune Rank: 354
For the nine months ended 30 September 2005, SLM Corporation's revenues increased 26% to $4.51B. Net income applicable to Common decreased 25% to $937.2M. Revenues reflect a significant increase in interest earned on consolidated, FFELP Stafford, and other student loans. Net income was offset by increased interest expenses, increased provisions taken for loan losses, increased operating expenses, and a higher effective income tax rate.
SLM Corporation (Sallie Mae) is a holding company. Through its subsidiaries, it provides funding, delivery and servicing support for education loans in the United States primarily through its participation in the Federal Family Education Loan Program (FFELP). The Company's primary business is to originate, acquire and hold student loans. Sallie Mae also provides a range of financial services, processing capabilities and information technology to meet the needs of educational institutions, lenders, students and their families, and guarantee agencies. The Company operates in segments: Lending business segment and Debt Management Operations business segment, which is referred as DMO business, and Corporate and Other business segment. During the year ended December 31, 2004, the Company acquired Southwest Student Services Corporation (Southwest) and Student Loan Finance Association (SLFA).
SLM Corp is a Fortune 500 company. In 2010 SLM Corp was ranked number 354 on the Fortune 500 list, making it the 354th largest company in the United States when judged by revenue.
SLM Corp achieved revenue of $6,144.70 million in 2010 and earned a profit of $324.10 million.
SLM Corp's rank changes
The company's ranking in 2010 was a decline from 2009 when it was ranked 331st on the Fortune 500. The Previous ranking was based on its 2009 revenue of $7,689 million (a change of -1 million compared to 2010) and profits of $-213 million (a change of 537 million compared to 2010).
Another point of view
To many investors, profits are more important than the revenue a company earns. If the Fortune 500 was ranked by profits instead of revenue then SLM Corp would be ranked 272nd rather than 354th due to its profits of $324 in 2010.
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