Synchrony Financial
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsSynchrony Financial is a consumer financial services company that provides credit cards and financing through a network of retail, digital, health and auto partners, with $102.2 billion in loan receivables at June 30, 2026.
What they do
Synchrony Financial operates primarily through its wholly-owned subsidiary, Synchrony Bank, offering credit products and FDIC-insured deposit products. The company partners with national and regional retailers, manufacturers, buying groups, industry associations, and healthcare providers to provide private-label and co-branded credit cards and financing. It operates through five sales platforms: Home & Auto, Digital, Diversified & Value, Health & Wellness, and Lifestyle. Deposits of $82.8 billion represented 83% of total funding sources at June 30, 2026.
Revenue drivers
- Home & Auto — Provides payments and financing solutions through partners such as Lowe's, Ashley HomeStores, Floor & Decor, Mattress Firm, Chevron, and Discount Tire, as well as Synchrony Car Care and Synchrony HOME credit cards.
- Digital — Offers integrated digital payment solutions through partners including PayPal (including Venmo), Amazon, QVC Group, Verizon, and Virgin Red.
- Diversified & Value — Comprises six large retail partners: Belk, Fleet Farm, JCPenney, OnePay, Sam's Club, and TJX Companies.
- Health & Wellness — Provides healthcare payments and financing through the CareCredit brand and partners such as Walgreens.
Recent performance
For the three and six months ended June 30, 2026, Synchrony financed $49.8 billion and $92.8 billion of purchase volume, respectively, and had 68.3 million and 68.7 million average active accounts. At June 30, 2026, loan receivables were $102.2 billion. The 30+ delinquency rate was 4.2% at July 31, 2026, and the net charge-off rate was 4.7%, with an adjusted net charge-off rate of 4.9%. Annual net income was $3.55 billion in 2025, and diluted EPS was $9.28. The company paid dividends of $1.15 per share in 2025.
Strategy
Synchrony operates as a single business segment, managing profitability and expenses for the business as a whole. Its five sales platforms are organized by partner type and measured on interest and fees on loans, loan receivables, active accounts, and other sales metrics. The company emphasizes its deposit base as a source of stable and diversified low-cost funding, with deposits representing 83% of total funding sources at June 30, 2026. It continues to offer a range of FDIC-insured deposit products directly and through third-party firms.
Risks
- Credit risk — Net charge-off rate was 4.7% in July 2026, and the 30+ delinquency rate was 4.2%, reflecting consumer credit performance.
- Partner concentration — The Diversified & Value platform is comprised of six large retail partners, and the Digital platform includes key partners such as PayPal and Amazon, making the company dependent on these relationships.
- Regulatory risk — As a financial services company, Synchrony is subject to extensive regulation, including by the SEC and FDIC, which could affect its operations and compliance costs.
- Funding and liquidity risk — Deposits represented 83% of total funding sources at June 30, 2026, and the company relies on its deposit base as a source of stable funding.
Outlook
The company does not provide specific forward guidance in the excerpts. Management highlights the deposit base as a source of stable and diversified low-cost funding for credit activities. The company continues to manage through its five sales platforms and single business segment structure.