# SYNCHRONY FINANCIAL (SYF) — Stock CV

Synchrony Financial is a $23.7B financial services company. Revenue grew 2.9% over the last year, and it keeps 18¢ of every dollar of sales as profit. It trades at 6.7× earnings — around the middle of its own history.

> Synchrony Financial, originally a spinoff of GE Capital's retail financing business, is the largest provider of private-label credit cards in the United States by both outstanding receivables and purchasing volume.

## Identity

- **Ticker**: SYF
- **Sector**: Financial Services
- **Industry**: Finance Services
- **Headquarters**: STAMFORD, CT
- **Employees**: 20 000
- **Website**: https://www.synchrony.com
- **Market cap**: $23.7B
- **Last price**: $72.73
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $19.2B
- **Net income**: $3.52B
- **Free cash flow**: $9.69B
- **Net debt**: $209M
- **P/E**: 6.7
- **Revenue growth (YoY)**: 2.9%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 72 |
| Growth | 24 |
| Profitability | 80 |
| Health | 48 |
| Quality | 60 |
| Moat | 31 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +2.9% YoY
- [x] Profitable — $3.52B TTM
- [x] Profit growing — +15.0% YoY
- [x] Generates cash — $9.69B TTM
- [x] Debt under control — ~0.0y of cash flow to repay
- [x] Established company — $23.7B market cap
- [x] Not printing shares — -32.8% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — Altman Z 0.4 — distress
- [x] Pays a dividend — yield 2.12%
- [x] Valuation not extreme — P/E 6.7

## Experience (career milestones)

- **FY2021** — Best year on record: $4.22B net income
- **2018** — It acquired Loop Commerce, which provides a digital gifting platform called GiftNow
- **2017** — Synchrony acquired GPShopper in 2017
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $13.9B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2014** — Centered on co-branded credit products, Synchrony went public in July 2014 and raised $2.88 billion in its initial…
- **2003** — Previously named GE Capital Retail Finance Corporation, Synchrony was incorporated in Delaware in 2003

## Strengths

- Strong cash conversion — FCF is 50.4% of revenue
- High returns on invested capital (ROIC 20.9%)

## Watch-outs

- Altman Z-Score 0.38 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $14.7B | $4.22B | $7.10B |
| FY2022 | $16.0B | $3.02B | $6.69B |
| FY2023 | $17.3B | $2.24B | $8.59B |
| FY2024 | $19.5B | $3.50B | $9.85B |
| FY2025 | $19.0B | $3.55B | $9.85B |

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Source: https://stockcv.com/SYF — derived from company filings; may be delayed or incomplete. Information, not investment advice.