Nelnet Inc
NNI NYSE· Personal Credit Institutions
Last close · Oct 23, 2026
$122.59
KIRA · Stoqly’s AI analyst, in plain words
- Nelnet Inc had $355M of revenue in fiscal 2025, up 21.0% on the year before. Over five years, revenue changed −24.0% a year on average.
- Nelnet Inc made $428M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 7.8% a year.
- Free cash flow was $397M in fiscal 2025, 111.9% of revenue.
- Nelnet Inc returned $112M to shareholders in fiscal 2025, 28% of free cash flow. The diluted share count fell 0.8%.
- Nelnet Inc owes $7.5B more than it holds in cash.
Market cap
$4.4B
P/E
14.6x
Revenue
$355M
Net income
$428M
Free cash flow
$397M
Operating margin
—
Nelnet Inc in 30 seconds · fiscal 2025
Are sales growing?
+21.0%
Yes. Sales grew 21.0% last year.
Does it make a profit?
120.9%
Yes. It keeps 120.9% of every sale as profit.
Does profit turn into cash?
111.9%
Yes. 111.9% of sales ends up as free cash.
How healthy are the accounts?
6 / 7
Mixed. It passes 6 of 7 health tests.
How is the share priced?
14.6x
One share costs 14.6 times its yearly profit per share.
What Nelnet Inc does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- NELNET INC
- CIK
- 0001258602
Nelnet Inc · NNI
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.3B | $1.6B | $265M | $293M | $355M |
| Revenue growth | −5.4% | 17.7% | −83.0% | 10.6% | 21.0% |
| Net interest income | $348M | $313M | $265M | $293M | $355M |
| Net income | $393M | $407M | $89.8M | $184M | $428M |
| Net margin | 29.7% | 26.1% | 33.9% | 62.8% | 120.9% |
| Diluted EPS | $10.20 | $10.82 | $2.40 | $5.02 | $11.79 |
| Cash | |||||
| Cash from operations | $480M | $683M | $432M | $663M | $423M |
| Capital expenditure | $59.0M | $59.4M | $74.1M | $20.9M | $26.2M |
| Free cash flow | $421M | $624M | $358M | $642M | $397M |
| FCF margin | 31.8% | 40.0% | 135.2% | 219.2% | 111.9% |
| Dividends paid | $34.5M | $36.6M | $39.4M | $40.8M | $43.0M |
| Share buybacks | $58.1M | $97.7M | $28.0M | $83.3M | $69.3M |
| Share count change | −1.2% | −2.5% | −0.5% | −2.1% | −0.8% |
| Debt and strength | |||||
| Cash and short-term investments | $126M | $118M | $168M | $195M | $296M |
| Debt incl. finance leases | $17.6B | $14.6B | $11.8B | $8.3B | $7.8B |
| Deposits | $344M | $691M | $744M | $1.2B | $1.7B |
| Shareholders' equity | $3.0B | $3.2B | $3.3B | $3.3B | $3.7B |
| Returns and quality | |||||
| Return on equity | 14.1% | 13.2% | 2.8% | 5.6% | 12.2% |
| Return on tangible equity | 14.3% | 13.8% | 2.9% | 5.8% | 12.2% |
| Piotroski F-score | 6 | 7 | 5 | 7 | 6 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.1M
1 insider
Of sales under plans
100%
$0.1M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Nelnet Inc · NNI
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $122.59 a share, the company is worth $4.4B: 14.6 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001258602). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.