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Navient cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$143M in Q2 2026 · $340M over twelve months

Operating cash flow$143M
Free cash flow+$143M
Cash / net income5.7×

Analysis

In Q2 2026, Navient generated $143M of operating cash flow. That is $17.0M more than in Q2 2025 ($126M).

Over the twelve months to Jun 30, 2026, operating cash flow was $340M; the largest uses were other financing ($2.8B), buybacks ($78.0M), dividends ($61.0M); besides operations, cash came from other investing ($2.6B); the cash balance rose by $62.0M.

Operating cash flow was $143M against net income of $25.0M — 5.7× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets +$78.0M, stock-based pay +$3.0M, other liabilities −$2.0M.

Free cash flow

Navient: free cash flow by quarterNavient: free cash flow by quarter−$10.0MQ3 2024$8.0MQ4 2024$71.0MQ1 2025$126MQ2 2025$70.0MQ3 2025$174MQ4 2025−$47.0MQ1 2026$143MQ2 2026
Operating cash flow less capital spending.
Navient: operating cash flow against capital spendingNavient: operating cash flow against capital spendingOperating cash flowCapital spending−$10.0M$0Q3 2024$8.0M$0Q4 2024$71.0M$0Q1 2025$126M$0Q2 2025$70.0M$0Q3 2025$174M$0Q4 2025−$47.0M$0Q1 2026$143M$0Q2 2026
Latest (Q2 2026): Operating cash flow $143M, Capital spending $0.

Capital allocation, year by year

Navient: where the cash came from (up) and went (down), by fiscal yearNavient: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $702MFY2021: Net borrowing −$1.5BFY2021: Acquisitions −$16.0MFY2021: Buybacks −$600MFY2021: Dividends −$107M$702MFY2021FY2022: Operating cash flow $305MFY2022: Net borrowing −$15.0MFY2022: Buybacks −$400MFY2022: Dividends −$91.0M$305MFY2022FY2023: Operating cash flow $676MFY2023: Net borrowing −$1.2BFY2023: Buybacks −$310MFY2023: Dividends −$78.0M$676MFY2023FY2024: Operating cash flow $459MFY2024: Net borrowing −$507MFY2024: Buybacks −$179MFY2024: Dividends −$70.0M$459MFY2024FY2025: Operating cash flow $441MFY2025: Net borrowing −$59.0MFY2025: Buybacks −$111MFY2025: Dividends −$63.0M$441MFY2025
Over these 5 years operating cash flow totalled $2.6B; the largest uses were net borrowing ($3.2B) and buybacks ($1.6B). Cash-flow statements as filed.

Where the cash came from and went

Navient: sources (+) and uses (−) of cash, Q2 2026Navient: sources (+) and uses (−) of cash, Q2 2026Other investing$639MNet borrowing (+) / repaid (−)−$506MOther financing−$250MOperating cash flow$143MDividends−$15.0MCash drawn (+) / kept (−)−$8.0MBuybacks−$3.0M
Navient: sources (+) and uses (−) of cash, TTM to Q2 2026Navient: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing−$2.8BOther investing$2.6BOperating cash flow$340MBuybacks−$78.0MCash drawn (+) / kept (−)−$62.0MDividends−$61.0MNet borrowing (+) / repaid (−)−$10.0M

From profit to cash

Navient: net income to operating cash flow, Q2 2026Navient: net income to operating cash flow, Q2 2026Net income$25.0MStock-based pay$3.0MPrepaid and other assets$78.0MOther liabilities−$2.0MOperating cash flow$143M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$143M−$3.0M−$15.0M−$506M−$8.0M$143M
Q1 2026−$47.0M−$23.0M−$15.0M—−$27.0M−$47.0M
Q4 2025$174M−$26.0M−$15.0M—−$232M$174M
Q3 2025$70.0M−$26.0M−$16.0M—$205M$70.0M
Q2 2025$126M−$24.0M−$16.0M−$504M−$22.0M$126M
Q1 2025$71.0M−$35.0M−$16.0M−$50.0M$48.0M$71.0M
Q4 2024$8.0M−$65.0M−$17.0M−$500M$690M$8.0M
Q3 2024−$10.0M−$33.0M−$18.0M—$1.2B−$10.0M

Navient: income statement and cash flow

Navient, Q4 2024: revenue $223M (+0.5% year over year), operating margin 11.7%. The chart follows the revenue to costs, profit and cash.

Navient: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.