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Synchrony Financial SYF Stock Quote

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Morningstar‘s Stock Analysis SYF

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Resilient Credit Costs and Rising Loan Growth Support Synchrony as It Seeks to Regain Momentum

Michael Miller Equity Analyst

Business Strategy and Outlook

| Michael Miller |

Synchrony partners with retailers and medical providers to offer promotional financing as well as private label and co-branded general-purpose credit cards. The company’s promotional financing and installment loans offered through its Home and Auto segment and its CareCredit program have performed well, and receivables have been relatively resilient in the current cycle. The company's private-label and cobranded credit cards, co-marketed through partnerships with retailers, have faced more headwinds both before and during the pandemic, and credit card receivables outstanding are well below their 2018 peak.

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Key Statistics SYF

Company Profile SYF

Business Description

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. Synchrony partners with other firms to market its credit products in their physical stores as well as on their websites and mobile applications. Synchrony operates through three segments: retail card (private-label and co-branded general-purpose credit cards), payment solutions (promotional financing for large ticket purchases), and CareCredit (financing for elective healthcare procedures).

777 Long Ridge Road
Stamford, CT, 06902
T +1 203 585-2400
Industry Credit Services
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 18,000

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