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NELNET INC

NNI

$126.78 ▼ -0.75 (-0.58%) at close

15 Visible periods

34 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Weak

Bearish

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Analytical Summary

NELNET INC faces fundamental challenges with weakness in Debt to Equity. The fundamentals warrant careful consideration of downside risks.

Market Cap $4.6B

Dividend Yield —

Revenue Growth None

Op. Margin None

ROIC None

FCF / Share None

Trailing P/E 10.8x

Price / Book 1.3x

FCF Yield —

Debt / Equity 2.11

info Valuation on last close. End-of-day price, Nov 5, 2026.

15-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$1.32B

↓ -5.4% —

Net Income Profit after all expenses

$428.47M

↑ +132.8% —

Operating Margin Operating profit as % of sales

37.9%

↑ +17.8% —

Long-Term Debt Long-term obligations

$7.78B

↓ -6.4% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Debt to EquityDebt to Equity is concerning (bottom quartile)

Health Breakdown

Returns ↓

Financial Health ↓

Dividend History

Dividend / share · sourced from SEC filings

$0.40 Latest / share

+0.0% YoY

+2.6% 4-yr CAGR

$0.37

FY 2014

$1.40

FY 2015

$0.40

FY 2016

$0.40

FY 2017

FY 2018

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2014 10-K ↗	FY 2016 Dec 31, 2013 10-K ↗	FY 2015 Dec 31, 2012 10-K ↗	FY 2014 Dec 31, 2011 10-K ↗	FY 2013 Dec 31, 2010 10-K ↗	FY 2012 Dec 31, 2009 10-K ↗	FY 2011 Dec 31, 2008 10-K ↗
Revenue Growth YoY (%)	—	—	—	—	-5.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-190%)	29.6% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+393%)	-0.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-110%)	16.7% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+178%)	2.0% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-66%)	25.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+319%)	-2.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-147%)	-9.4% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-257%)	27.4% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+357%)	—	—
EPS Growth YoY (%)	134.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	104.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-77.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	6.2% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	13.1% Fair Fair Year-over-year change in earnings per share Optimal: > 10%	154.8% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	-11.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	11.0% Fair Fair Year-over-year change in earnings per share Optimal: > 10%	36.9% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	132.8% Excellent ↑ Excellent Improving Year-over-year change in net income	101.1% Excellent ↑ Excellent Improving Year-over-year change in net income	-77.5% Weak ↓ Weak Declining Year-over-year change in net income	3.6% Caution ↓ Caution Declining Year-over-year change in net income	11.6% Fair ↓ Fair Declining Year-over-year change in net income	148.5% Excellent ↑ Excellent Improving Year-over-year change in net income	-37.8% Weak ↓ Weak Declining Year-over-year change in net income	-25.9% Weak ↓ Weak Declining Year-over-year change in net income	1.6% Caution ↓ Caution Declining Year-over-year change in net income	70.0% Excellent ↑ Excellent Improving Year-over-year change in net income	-12.9% Weak ↓ Weak Declining Year-over-year change in net income	8.1% Fair Fair Year-over-year change in net income	35.9% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Revenue CAGR 3Y (%)	—	—	—	—	6.8% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	14.5% Good ↑ Good Improving Compound annual revenue growth over 3 years	5.8% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	14.2% Good ↑ Good Improving Compound annual revenue growth over 3 years	7.5% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	3.3% Caution Caution Compound annual revenue growth over 3 years	3.9% Caution Caution Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	—	—	—	—	7.7% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	13.9% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	7.6% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	5.6% Fair Fair Compound annual revenue growth over 5 years	7.5% Fair Fair Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	2.9% Caution ↑ Caution Improving Compound annual EPS growth over 3 years	-21.0% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-35.2% Weak Weak Compound annual EPS growth over 3 years	45.2% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—	—	10.5% Good Good Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2014 10-K ↗	FY 2016 Dec 31, 2013 10-K ↗	FY 2015 Dec 31, 2012 10-K ↗	FY 2014 Dec 31, 2011 10-K ↗	FY 2013 Dec 31, 2010 10-K ↗	FY 2012 Dec 31, 2009 10-K ↗	FY 2011 Dec 31, 2008 10-K ↗
Operating Margin (%) (%)	—	—	—	—	37.9% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+52%)	32.2% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+29%)	16.4% Fair Fair Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-35%)	26.3% Excellent Excellent Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+5%)	—	—	—	—	—	—	—
Effective Tax Rate (%) (%)	—	23.0% Fair → Fair Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	26.6% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.2% Fair → Fair Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	23.1% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	22.4% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	20.1% Good Good Actual taxes paid relative to pre-tax income Optimal: 15-25%	20.5% Good Good Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—
Profit Margin (%) (%)	—	—	—	—	29.7% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+35%)	25.2% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+14%)	13.1% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-40%)	21.0% Excellent ↓ Excellent Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	33.0% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+50%)	33.2% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+51%)	24.4% Excellent → Excellent Stable Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+11%)	27.2% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+24%)	22.8% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	21.4% Excellent Excellent Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	—
FCF Margin (%) (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF / Net Income (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2014 10-K ↗	FY 2016 Dec 31, 2013 10-K ↗	FY 2015 Dec 31, 2012 10-K ↗	FY 2014 Dec 31, 2011 10-K ↗	FY 2013 Dec 31, 2010 10-K ↗	FY 2012 Dec 31, 2009 10-K ↗	FY 2011 Dec 31, 2008 10-K ↗
Return on Invested Capital (%) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Capital (%) (%)	3.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	2.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	0.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.9% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	1.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.1% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	0.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	0.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	11.6% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	5.5% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-54%)	2.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-77%)	12.7% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+6%)	13.3% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+11%)	13.4% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+12%)	—	9.9% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-18%)	17.8% Good → Good Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+49%)	21.0% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+75%)	15.3% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+27%)	19.2% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+60%)	—	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2014 10-K ↗	FY 2016 Dec 31, 2013 10-K ↗	FY 2015 Dec 31, 2012 10-K ↗	FY 2014 Dec 31, 2011 10-K ↗	FY 2013 Dec 31, 2010 10-K ↗	FY 2012 Dec 31, 2009 10-K ↗	FY 2011 Dec 31, 2008 10-K ↗
Debt to Equity (x)	2.11x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+76%)	2.48x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+107%)	3.63x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+202%)	4.58x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+281%)	5.97x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+398%)	7.34x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+512%)	—	—	—	—	—	—	—	—	—
Interest Coverage (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Debt (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt / EBITDA (x) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

📊 What does each share earn? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2014 10-K ↗	FY 2016 Dec 31, 2013 10-K ↗	FY 2015 Dec 31, 2012 10-K ↗	FY 2014 Dec 31, 2011 10-K ↗	FY 2013 Dec 31, 2010 10-K ↗	FY 2012 Dec 31, 2009 10-K ↗	FY 2011 Dec 31, 2008 10-K ↗
Revenue per Share (USD)	—	—	—	—	$34.34	$35.84	$26.98	—	—	—	$15.52	$15.68	$16.87	$13.14	—
Basic EPS, GAAP (USD)	$11.79	$5.02	$2.45	$10.83	$10.20	$9.02	$3.54	—	—	—	$3.76	$4.24	$3.82	$2.79	—
Free Cash Flow per Share (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend per Share (USD)	—	—	—	—	—	—	—	—	$0.40	$0.40	$1.40	$0.37	$0.70	—	—
Book Value per Share (USD)	$101.42	$91.42	$87.20	$85.07	$76.51	$67.39	—	—	—	—	$24.79	$22.28	—	—	—
Tangible Book Value per Share (USD)	$96.27	$86.11	$81.78	$78.68	$71.48	$61.83	—	—	—	—	$22.10	$19.24	—	—	—
Basic Weighted Avg Shares (shares)	36.34M	36.64M	37.42M	37.60M	38.57M	39.06M	40.05M	—	—	—	47.01M	47.86M	49.13M	49.48M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2014 10-K ↗	FY 2016 Dec 31, 2013 10-K ↗	FY 2015 Dec 31, 2012 10-K ↗	FY 2014 Dec 31, 2011 10-K ↗	FY 2013 Dec 31, 2010 10-K ↗	FY 2012 Dec 31, 2009 10-K ↗	FY 2011 Dec 31, 2008 10-K ↗
Working Capital (USD) N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
LT Debt (USD)	$7.78B	$8.31B	$11.83B	$14.64B	$17.63B	$19.32B	—	—	—	—	—	—	—	—	—
Total Equity (USD)	$3.69B	$3.35B	$3.26B	$3.20B	$2.95B	$2.63B	—	$2.30B	$1.73B	$1.44B	$1.17B	$1.07B	—	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2014 10-K ↗	FY 2016 Dec 31, 2013 10-K ↗	FY 2015 Dec 31, 2012 10-K ↗	FY 2014 Dec 31, 2011 10-K ↗	FY 2013 Dec 31, 2010 10-K ↗	FY 2012 Dec 31, 2009 10-K ↗	FY 2011 Dec 31, 2008 10-K ↗
Sales/Revenue/Turnover (USD)	—	—	—	—	$1.32B	$1.40B	$1.08B	$1.09B	$931.53M	$913.02M	$729.57M	$750.70M	$828.64M	$650.33M	—
Depreciation Expense (USD)	$90.62M	$132.53M	$145.39M	$176.25M	$132.32M	$198.47M	$192.66M	$184.68M	$107.97M	$79.48M	$116.78M	$103.47M	$101.00M	—	—
Net Income, GAAP (USD)	$428.47M	$184.04M	$91.53M	$407.35M	$393.29M	$352.44M	$141.80M	$227.91M	$307.61M	$302.67M	$178.00M	$204.34M	$189.03M	$139.12M	—
Operating Cash Flow (USD)	$422.99M	$662.89M	$432.98M	$684.06M	$480.33M	$212.81M	$298.92M	$270.89M	$357.45M	$387.18M	$299.32M	$310.86M	$194.87M	$324.71M	—

🏛️ Sector-Specific 1 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2014 10-K ↗	FY 2016 Dec 31, 2013 10-K ↗	FY 2015 Dec 31, 2012 10-K ↗	FY 2014 Dec 31, 2011 10-K ↗	FY 2013 Dec 31, 2010 10-K ↗	FY 2012 Dec 31, 2009 10-K ↗	FY 2011 Dec 31, 2008 10-K ↗
Net Interest Margin (approx.) (%)	2.5%	2.1%	1.6%	1.6%	1.6%	1.3%	1.1%	1.0%	1.5%	1.5%	1.3%	1.4%	1.4%	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 15 years · 56 quarters

NELNET INC

Analytical Summary

15-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

Statement lens

Benchmark Lens

Signals

Percentile Rankings

Peer Comparison

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