Symbols / NNI Stock $129.10 -1.41% Nelnet, Inc.

Financial Services • Credit Services • United States • NYQ
NNI (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Financial Services
Industry Credit Services
CEO Mr. Jeffrey R. Noordhoek
Exch · Country NYQ · United States
Market Cap 4.64B
Enterprise Value 12.04B
Income 417.04M
Sales 1.65B
FCF (ttm) —
Book/sh 102.74
Cash/sh 6.71
Employees 5,744
Insider 10d —
IPO Dec 12, 2003
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout —
P/E 11.23
Forward P/E 12.91
PEG 0.46
P/S 2.82
P/B 1.26
P/C —
EV/EBITDA —
EV/Sales 7.31
Quick Ratio 4.63
Current Ratio 4.89
Debt/Eq 213.54
LT Debt/Eq —
EPS (ttm) 11.50
EPS next Y 10.00
EPS Growth -12.90%
Revenue Growth -7.10%
EPS Gr Q/Q -13.80%
Rev Gr Q/Q —
Earnings (next) 2026-08-05
Earnings (prior) 2026-05-07
ROA 2.63%
ROE 10.70%
ROIC —
Gross Margin 86.59%
Oper. Margin 21.42%
Profit Margin 25.34%
Shs Outstand 25.32M
Shs Float 16.32M
Insider Own 30.68%
Instit Own 47.65%
Short Float 3.14%
Short Ratio 3.19
Short Interest 429.92K
52W High 144.38
vs 52W High -10.58%
52W Low 113.26
vs 52W Low 13.99%
Beta 0.79
Impl. Vol. 1.45%
Rel Volume 0.60
Avg Volume 150.15K
Volume 89.44K
Target (mean) $135.00
Tgt Median $135.00
Tgt Low $135.00
Tgt High $135.00
# Analysts 1
Recom None
Prev Close $130.95
Price $129.10
Change -1.41%
About

Nelnet, Inc. engages in loan servicing, education technology services, and payment businesses worldwide. The company operates through four segments: Loan Servicing and Systems, Education Technology Services and Payments, Asset Generation and Management, and Nelnet Bank. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer, payment processing, due diligence procedures, funds management reconciliation, and claim processing services. This segment also offers student loan servicing software; and business process outsourcing services primarily in contact center management, such as inbound calls, outreach campaigns and sales, and interacting with customers through multi-channels, and processing and administrative services. The Education Technology Services and Payments segment provides financial management services; school information system software; a donation platform; education technology solutions; and customized professional development and coaching, and advanced learning and educational instruction services. This segment also offers tuition payment plans, and service and technology for student billings, payments, and refunds; solutions for in-person, online, and mobile payment experiences on campus; payment processing services, such as credit card and electronic transfer; learning management system; an integrated commerce payment platform; and a school management platform that provides administrative, information and financial management, and communication functions for K-12 schools. The Asset Generation and Management segment invest, allocates an manages loan assts. The Nelnet Bank segment operates as an internet industrial bank. It also offers investment advisory, investment, and reinsurance services, as well as engages in the real estate investment; and solar engineering, procurement, and construction businesses. The company was founded in 1977 and is headquartered in Lincoln, Nebraska.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$135.00
Mean price target
2. Current target
$129.10
Latest analyst target
3. DCF / Fair value
$172.50
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$129.10
Low
$135.00
High
$135.00
Mean
$135.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-01-08 main TD Cowen Hold → Hold $140
2025-11-10 main TD Cowen Hold → Hold $135
2024-08-12 main TD Cowen Hold → Hold $98
2024-05-14 main TD Cowen Hold → Hold $96
2023-11-01 init TD Cowen — → Market Perform $95
2023-05-11 reit Credit Suisse Neutral → Neutral $90
2022-11-09 main Credit Suisse — → Neutral $93
2022-08-10 main Credit Suisse — → Neutral $88
2022-03-02 main Credit Suisse — → Neutral $92
2022-01-13 down Credit Suisse Outperform → Neutral $96
2020-11-10 up Credit Suisse Neutral → Outperform $75
2020-05-12 main Credit Suisse — → Neutral $52
2017-10-20 main Credit Suisse — → Neutral $55
2017-08-09 down Compass Point Buy → Neutral —
2016-11-14 down Credit Suisse Outperform → Neutral $48
2015-08-07 main Credit Suisse — → Outperform $56
2014-11-07 main Credit Suisse — → Outperform $54
2014-08-08 main Credit Suisse — → Outperform $53
2014-05-12 main Compass Point — → Buy $53
2014-04-17 main Compass Point — → Buy $54
News
RSS: Latest NNI news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-30 KRUGER JAMES D Chief Financial Officer — 5,000 $0.00 $0
2026-04-15 MUNN WILLIAM J General Counsel — 1,052 $0.00 $0
2026-03-30 PETERSON ADAM K Beneficial Owner of more than 10% of a Class of Security — 9,544 — —
2026-03-10 TEWES TIMOTHY A President — 16,183 $0.00 $0
2026-03-10 KRUGER JAMES D Chief Financial Officer — 16,183 $0.00 $0
2026-03-10 DUNLAP MATTHEW W Officer and Director — 3,764 $0.00 $0
2026-03-10 OLINGER EMILY Officer — 3,990 $0.00 $0
2026-03-10 WENGER DEEANN Officer — 5,928 $0.00 $0
2026-03-10 HEIMES TERRY J Chief Operating Officer — 14,019 $0.00 $0
2026-03-10 NOORDHOEK JEFFREY R Chief Executive Officer — 7,527 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
1,351.08
+15.87%
1,166.07
+20.41%
968.45
-30.17%
1,386.78
Operating Revenue
1,351.08
+15.87%
1,166.07
+20.41%
968.45
-30.17%
1,386.78
Selling General And Administration
652.34
+3.19%
632.18
+3.92%
608.32
+3.15%
589.73
General And Administrative Expense
652.34
+3.19%
632.18
+3.92%
608.32
+3.15%
589.73
Salaries And Wages
558.79
-3.15%
576.93
-2.47%
591.54
+0.33%
589.58
Reconciled Depreciation
90.62
-31.62%
132.53
-8.85%
145.39
-17.51%
176.25
Total Unusual Items
140.58
+4658.46%
-3.08
+90.09%
-31.11
-100.41%
-15.52
Total Unusual Items Excluding Goodwill
140.58
+4658.46%
-3.08
+90.09%
-31.11
-100.41%
-15.52
Special Income Charges
140.58
+4658.46%
-3.08
+90.09%
-31.11
-100.41%
-15.52
Impairment Of Capital Assets
16.27
+753.88%
1.91
-93.62%
29.86
+233.24%
8.96
Write Off
13.34
+982.55%
1.23
-40.19%
2.06
-68.60%
6.56
Net Income
428.47
+132.81%
184.04
+104.89%
89.83
-77.92%
406.90
Pretax Income
526.33
+130.26%
228.58
+232.66%
68.72
-86.31%
501.85
Net Interest Income
354.51
+21.05%
292.86
+10.64%
264.71
-15.34%
312.67
Interest Expense
496.95
-26.98%
680.54
-19.47%
845.09
+96.47%
430.14
Interest Income
851.46
-12.53%
973.40
-12.29%
1,109.80
+49.41%
742.81
Gain On Sale Of Security
28.88
+375.62%
-10.48
+92.57%
-141.09
-158.78%
240.04
Gain On Sale Of Business
175.04
0.00
0.00
0.00
Tax Provision
127.99
+143.00%
52.67
+171.70%
19.39
-82.86%
113.10
Tax Rate For Calcs
0.00
+3.37%
0.00
+25.00%
0.00
-21.02%
0.00
Tax Effect Of Unusual Items
32.33
+4812.12%
-0.69
+87.61%
-5.54
-58.29%
-3.50
Net Income Including Noncontrolling Interests
398.35
+126.44%
175.91
+256.61%
49.33
-87.31%
388.75
Net Income From Continuing Operation Net Minority Interest
428.47
+132.81%
184.04
+104.89%
89.83
-77.92%
406.90
Net Income From Continuing And Discontinued Operation
428.47
+132.81%
184.04
+104.89%
89.83
-77.92%
406.90
Net Income Continuous Operations
398.35
+126.44%
175.91
+256.61%
49.33
-87.31%
388.75
Minority Interests
30.13
+270.58%
8.13
-79.92%
40.50
+123.07%
18.15
Normalized Income
320.23
+71.76%
186.44
+61.56%
115.40
-72.45%
418.92
Net Income Common Stockholders
420.68
+133.07%
180.50
+105.26%
87.94
-77.97%
399.12
Otherunder Preferred Stock Dividend
7.79
+119.71%
3.55
+87.67%
1.89
-75.69%
7.78
Diluted EPS
11.79
+134.86%
5.02
+109.17%
2.40
-77.84%
10.83
Basic EPS
11.79
+134.86%
5.02
+109.17%
2.40
-77.84%
10.83
Basic Average Shares
36.34
-0.82%
36.64
-2.07%
37.42
-0.50%
37.60
Diluted Average Shares
36.34
-0.82%
36.64
-2.07%
37.42
-0.50%
37.60
Diluted NI Availto Com Stockholders
420.68
+133.07%
180.50
+105.26%
87.94
-77.97%
399.12
Depreciation Amortization Depletion Income Statement
33.57
-42.23%
58.12
-26.55%
79.12
+6.81%
74.08
Depreciation And Amortization In Income Statement
33.57
-42.23%
58.12
-26.55%
79.12
+6.81%
74.08
Insurance And Claims
93.55
+69.34%
55.25
+229.22%
16.78
+10796.75%
0.15
Other Non Interest Expense
211.57
+11.64%
189.50
+9.50%
173.07
+1.43%
170.62
Line Item Trend 2025-12-31 2024-12-31 2023-12-31
Total Assets
14,063.78
+2.08%
13,777.75
-17.56%
16,712.38
Cash And Cash Equivalents
295.98
+52.16%
194.52
+15.71%
168.11
Other Short Term Investments
1,129.19
+14.77%
983.84
+4.89%
937.93
Receivables
225.54
+17.35%
192.19
-23.11%
249.95
Accounts Receivable
193.45
+20.96%
159.93
-18.48%
196.20
Gross Accounts Receivable
196.21
+20.51%
162.81
-18.80%
200.50
Allowance For Doubtful Accounts Receivable
-2.76
+4.14%
-2.88
+33.16%
-4.30
Other Receivables
—
—
—
Net PPE
75.53
-20.65%
95.19
-25.06%
127.01
Gross PPE
368.73
-6.17%
392.99
+3.20%
380.79
Accumulated Depreciation
-293.20
+1.55%
-297.81
-17.35%
-253.78
Land And Improvements
2.99
-6.91%
3.21
-1.98%
3.28
Buildings And Improvements
46.07
-8.01%
50.08
-1.32%
50.75
Machinery Furniture Equipment
300.07
-2.87%
308.94
+6.43%
290.27
Construction In Progress
5.27
-70.04%
17.59
-24.32%
23.25
Other Properties
10.10
+44.05%
7.01
-1.25%
7.10
Leases
4.23
-31.25%
6.15
+0.07%
6.15
Goodwill And Other Intangible Assets
187.31
-3.62%
194.36
-4.19%
202.85
Goodwill
158.03
+0.00%
158.03
+0.00%
158.03
Other Intangible Assets
29.28
-19.39%
36.33
-18.95%
44.82
Investments And Advances
1,906.92
-1.44%
1,934.71
+14.54%
1,689.15
Long Term Equity Investment
18.03
-92.51%
240.82
+116.64%
111.16
Total Liabilities Net Minority Interest
10,486.55
+0.08%
10,478.64
-22.45%
13,512.28
Payables And Accrued Expenses
20.43
-2.95%
21.05
-40.53%
35.39
Payables
20.43
-2.95%
21.05
-40.53%
35.39
Accounts Payable
20.43
-2.95%
21.05
-40.53%
35.39
Current Debt And Capital Lease Obligation
981.93
+4.11%
943.16
-33.68%
1,422.18
Current Debt
981.93
+4.11%
943.16
-33.68%
1,422.18
Long Term Debt And Capital Lease Obligation
6,798.99
-7.71%
7,366.63
-27.76%
10,198.05
Long Term Debt
6,798.99
-7.71%
7,366.63
-27.76%
10,198.05
Long Term Capital Lease Obligation
—
—
—
Stockholders Equity
3,685.79
+10.03%
3,349.76
+2.95%
3,253.75
Common Stock Equity
3,685.79
+10.03%
3,349.76
+2.95%
3,253.75
Capital Stock
0.36
-1.10%
0.36
-2.16%
0.37
Common Stock
0.36
-1.10%
0.36
-2.16%
0.37
Preferred Stock
0.00
0.00
0.00
Share Issued
47.18
-0.88%
47.60
-1.59%
48.37
Ordinary Shares Number
35.88
-1.15%
36.29
-2.08%
37.06
Treasury Shares Number
11.31
+0.00%
11.31
+0.00%
11.31
Additional Paid In Capital
1.48
-79.96%
7.39
+138.66%
3.10
Retained Earnings
3,681.33
+10.20%
3,340.54
+2.14%
3,270.40
Gains Losses Not Affecting Retained Earnings
2.62
+78.16%
1.47
+107.31%
-20.12
Minority Interest
-108.56
-114.36%
-50.65
+5.59%
-53.64
Other Equity Adjustments
2.62
+78.16%
1.47
+107.31%
-20.12
Total Equity Gross Minority Interest
3,577.23
+8.43%
3,299.12
+3.09%
3,200.11
Total Capitalization
10,484.79
-2.16%
10,716.39
-20.33%
13,451.80
Invested Capital
11,466.72
-1.65%
11,659.56
-21.61%
14,873.98
Total Debt
7,780.93
-6.36%
8,309.80
-28.49%
11,620.23
Net Debt
7,484.94
-7.77%
8,115.28
-29.14%
11,452.12
Capital Lease Obligations
—
—
—
Net Tangible Assets
3,498.48
+10.87%
3,155.41
+3.43%
3,050.90
Tangible Book Value
3,498.48
+10.87%
3,155.41
+3.43%
3,050.90
Available For Sale Securities
548.40
+9.84%
499.27
+4.60%
477.31
Cash Cash Equivalents And Federal Funds Sold
1,149.35
+11.26%
1,033.01
-1.00%
1,043.46
Held To Maturity Securities
211.30
+0.25%
210.77
+29.52%
162.74
Line Of Credit
981.93
+4.11%
943.16
-33.68%
1,422.18
Notes Receivable
32.09
-0.54%
32.26
-39.98%
53.75
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
422.99
-36.19%
662.89
+53.44%
432.03
-36.75%
683.06
Cash Flow From Continuing Operating Activities
422.99
-36.19%
662.89
+52.59%
434.41
-36.40%
683.06
Net Income From Continuing Operations
398.35
+126.44%
175.91
+256.61%
49.33
-87.31%
388.75
Depreciation Amortization Depletion
90.62
-31.62%
132.53
-8.85%
145.39
-17.51%
176.25
Depreciation And Amortization
90.62
-31.62%
132.53
-8.85%
145.39
-17.51%
176.25
Other Non Cash Items
33.02
-36.35%
51.87
+257.98%
14.49
+2.21%
14.18
Pension And Employee Benefit Expense
—
—
—
14.18
Stock Based Compensation
—
12.04
-26.89%
16.48
+16.22%
14.18
Asset Impairment Charge
16.27
+525.72%
2.60
-91.29%
29.86
+92.39%
15.52
Deferred Tax
-4.31
+80.08%
-21.62
+58.68%
-52.33
-251.61%
34.52
Deferred Income Tax
-4.31
+80.08%
-21.62
+58.68%
-52.33
-251.61%
34.52
Operating Gains Losses
-181.36
-1241.20%
-13.52
-110.08%
134.14
+46.67%
91.46
Gain Loss On Investment Securities
-24.56
-208.83%
-7.95
-106.49%
122.49
+65.30%
74.11
Change In Working Capital
110.25
-67.06%
334.74
+149.97%
133.91
+2727.21%
-5.10
Change In Receivables
-33.37
-192.43%
36.11
+2762.68%
-1.36
+94.86%
-26.36
Changes In Account Receivables
-33.37
-192.43%
36.11
+2762.68%
-1.36
+94.86%
-26.36
Change In Payables And Accrued Expense
-4.94
+66.00%
-14.54
-2109.12%
-0.66
-102.09%
31.48
Change In Payable
-4.94
+66.00%
-14.54
-2109.12%
-0.66
-102.09%
31.48
Change In Account Payable
-4.94
+66.00%
-14.54
-2109.12%
-0.66
-102.09%
31.48
Change In Other Current Assets
61.45
-10.53%
68.68
+706.01%
8.52
+240.12%
-6.08
Change In Other Current Liabilities
46.44
+97.21%
23.55
-70.63%
80.19
+133.37%
34.36
Investing Cash Flow
356.40
-85.23%
2,412.73
+24.43%
1,939.03
-14.69%
2,273.03
Cash Flow From Continuing Investing Activities
356.40
-85.23%
2,412.73
+24.43%
1,939.03
-14.69%
2,273.03
Net PPE Purchase And Sale
-26.24
-25.52%
-20.90
+71.77%
-74.05
-24.62%
-59.42
Purchase Of PPE
-26.24
-25.52%
-20.90
+71.77%
-74.05
-24.62%
-59.42
Capital Expenditure
-26.24
-25.52%
-20.90
+71.77%
-74.05
-24.62%
-59.42
Net Investment Purchase And Sale
-233.97
+49.84%
-466.42
-551.80%
103.24
+114.50%
-712.03
Purchase Of Investment
-1,144.99
-5.31%
-1,087.27
-15.81%
-938.87
+27.39%
-1,293.02
Sale Of Investment
911.02
+46.74%
620.84
-40.42%
1,042.10
+79.37%
580.99
Net Business Purchase And Sale
—
0.00
0.00
+100.00%
-34.04
Purchase Of Business
—
0.00
0.00
+100.00%
-34.04
Gain Loss On Sale Of Business
-175.04
0.00
0.00
0.00
Financing Cash Flow
-737.14
+76.74%
-3,169.66
-17.26%
-2,703.20
+3.20%
-2,792.50
Cash Flow From Continuing Financing Activities
-737.14
+76.74%
-3,169.66
-17.26%
-2,703.20
+3.20%
-2,792.50
Net Issuance Payments Of Debt
-1,222.72
+66.17%
-3,614.01
-27.03%
-2,844.98
+6.34%
-3,037.61
Issuance Of Debt
1,393.20
+4445.22%
30.65
-95.97%
761.18
-41.52%
1,301.55
Repayment Of Debt
-2,615.92
+28.23%
-3,644.66
-1.07%
-3,606.16
+16.89%
-4,339.16
Long Term Debt Issuance
1,393.20
+4445.22%
30.65
-95.97%
761.18
-41.52%
1,301.55
Long Term Debt Payments
-2,615.92
+28.23%
-3,644.66
-1.07%
-3,606.16
+16.89%
-4,339.16
Net Long Term Debt Issuance
-1,222.72
+66.17%
-3,614.01
-27.03%
-2,844.98
+6.34%
-3,037.61
Net Common Stock Issuance
-67.46
+17.06%
-81.34
-209.91%
-26.25
+72.67%
-96.05
Common Stock Payments
-69.35
+16.74%
-83.29
-197.17%
-28.03
+71.31%
-97.69
Common Stock Dividend Paid
-42.99
-5.28%
-40.84
-3.59%
-39.42
-7.68%
-36.61
Cash Dividends Paid
-42.99
-5.28%
-40.84
-3.59%
-39.42
-7.68%
-36.61
Repurchase Of Capital Stock
-69.35
+16.74%
-83.29
-197.17%
-28.03
+71.31%
-97.69
Net Other Financing Charges
133.68
+88.29%
71.00
-8.96%
77.99
+61.02%
48.43
Changes In Cash
42.25
+144.93%
-94.03
+71.69%
-332.14
-303.04%
163.59
Effect Of Exchange Rate Changes
0.28
+162.93%
-0.44
-2831.25%
0.02
+110.00%
-0.16
Beginning Cash Position
931.02
-9.21%
1,025.49
-24.46%
1,357.62
+13.69%
1,194.19
End Cash Position
973.55
+4.57%
931.02
-9.21%
1,025.49
-24.46%
1,357.62
Free Cash Flow
396.75
-38.20%
641.99
+79.34%
357.98
-42.60%
623.64
Interest Paid Supplemental Data
472.26
-27.51%
651.47
-16.62%
781.31
+122.81%
350.66
Income Tax Paid Supplemental Data
68.86
+351.92%
15.24
-67.98%
47.59
-17.53%
57.70
Common Stock Issuance
1.88
-3.29%
1.95
+9.33%
1.78
+9.00%
1.63
Issuance Of Capital Stock
1.88
-3.29%
1.95
+9.33%
1.78
+9.00%
1.63
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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