SYFSynchrony Financial

Financials · Financial Services · NYSE

Employees: 20,000
Headquarters: Stamford, CT
Next results: around Jan 26, 2027

What the 10-K filed 2026-02-06 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-07.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

No specific sentence about this in the 10-K.

Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

“Fiserv, and, in some cases, other third-party vendors, are the sole source or one of a limited number of sources of the services they provide for us.”
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Lawsuits and legal claims

Pending cases, settlements and what the company has set aside for them.

“In accordance with applicable accounting guidance, we establish an accrued liability for legal and regulatory matters when those matters present loss contingencies which are both probable and reasonably estimable.”
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“We currently estimate that the reasonably possible losses for legal proceedings and regulatory matters, whether in excess of a related accrued liability or where there is no accrued liability, and for which we are able to estimate a possible loss, are immaterial.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

No specific sentence about this in the 10-K.

Debt covenants

Conditions in loan agreements that, if broken, can make debt due early.

“We were in compliance with all of these covenants at December 31, 2025.”
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“For debt securities, if we do not intend to sell the security, or it is not more likely than not, that we will be required to sell the security before recovery of our amortized cost, we evaluate other qualitative criteria to determine whether we do not expect to recover the amortized cost basis of the security, such as the financial health of, and specific prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security.”
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Commitments off the balance sheet

1 new

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

New “The current year reserve release included the impact of a $44 million reserve build for off-balance sheet credit exposures associated with the acquisition of the Lowe's commercial co-branded credit card portfolio, expected to close in the first half of 2026.”
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Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

Work on SYF in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/SYF/export.csv") into a cell.