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NNINelnet, Inc.
$134.31$4.8B
Overview & Verdict
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NNI logoNelnet, Inc.(NNI)Earnings, Financials & Key Ratios

NNI•NYSE
$134.31
11.6× P/E·Price updated Jul 6, 2026
SectorFinancial ServicesIndustryCredit ServicesSub-IndustryStudent Loan Lending and Servicing
AboutNelnet, Inc. engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services. This segment also provides student loan servicing software; business process outsourcing services specialized in contact center management, such as inbound calls, outreach campaigns and sales, and interacting with customers through multi-channels. The Education Technology, Services, and Payment Processing segment offers financial management services; school information system software; website design and cost effective admissions software; FACTS Giving, a donation platform; and customized professional development and coaching services, educational instruction services, and technology products that aid in teacher and student evaluations. It 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; faith community engagement, giving management, and learning management services and technologies; and an integrated commerce payment platform, financial management, and tuition payment plan services, as well as a school management platform that provides administrative, information management, financial management, and communication functions for K-12 schools. The Communications segment provides fiber optic service to homes and businesses for internet, television, and telephone services. The Asset Generation and Management segment acquires, manages, and owns loan assets. The Nelnet Bank segment operates internet industrial banks. The company was founded in 1978 and is headquartered in Lincoln, Nebraska.Show more
  • EBITDA$1.18B+226.3%
  • Net Income$428M+132.8%
  • EPS (Diluted)11.58+130.7%
  • Gross Margin87.04%+44.6%
  • EBITDA Margin52.07%+166.3%
  • Operating Margin50.58%+308.7%
  • Net Margin18.93%+89.9%
  • ROE12.46%+120.0%

NNI Price & Volume

Nelnet, Inc. (NNI) stock price & volume — 10-year historical chart

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Strategic Pivot Masks Legacy Loan Portfolio Runoff

Investment Thesis • Updated 2026Q1

VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Adequate
Cash Flow:Mixed
Primary Risk:Infrastructure capital intensity

Key Thesis Takeaways

  • Nelnet is undergoing a complex structural transformation, recycling cash flows from its legacy student loan servicing business into capital-intensive fiber-optic infrastructure.
  • While the company has successfully scaled operating income from a $39.6 million loss in 2023Q4 to $207.3 million in 2026Q1, the long-term outlook remains tethered to the execution of the Allo fiber expansion.
  • Investors should monitor the sustainability of this transition, as the reliance on legacy assets to fund high-growth segments creates potential volatility in future free cash flow generation.

Verdict Logic

while the company has improved its operating margin to 39.4% as of 2026Q1, the high forward P/E of 15.63 and ongoing capital requirements for fiber expansion warrant a cautious approach.

NNI Growth Metrics

Nelnet, Inc. (NNI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years7.38%
5 Years10.52%
3 Years7.6%
TTM-

Profit CAGR

10 Years4.81%
5 Years3.98%
3 Years1.74%
TTM115.86%

EPS CAGR

10 Years6.99%
5 Years5.12%
3 Years2.89%
TTM116.63%

Return on Capital

10 Years2.23%
5 Years3.23%
3 Years3.71%
Last Year8.91%

NNI Recent Earnings

Nelnet, Inc. (NNI) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 8/12 qtrs (67%)
Q2 2026Latest
May 7, 2026
Metric
Actual
Est
EPS
$1.94-27.1%
$2.66
Rev
$419M-5.6%
$444M
Q1 2026
Feb 26, 2026
Metric
Actual
Est
EPS
$1.56-4.3%
$1.63
Rev
$392M+2.5%
$382M
Q4 2025
Nov 6, 2025
Metric
Actual
Est
EPS
$2.95+94.1%
$1.52
Rev
$495M+29.5%
$382M
Q3 2025
Aug 6, 2025
Metric
Actual
Est
EPS
$5.05+164.4%
$1.91
Rev
$618M+64.1%
$376M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 7, 2026
$1.94vs $2.66-27.1%
$419Mvs $444M-5.6%
Q1 2026Feb 26, 2026
$1.56vs $1.63-4.3%
$392Mvs $382M+2.5%
Q4 2025Nov 6, 2025
$2.95vs $1.52+94.1%
$495Mvs $382M+29.5%
Q3 2025Aug 6, 2025
$5.05vs $1.91+164.4%
$618Mvs $376M+64.1%
Based on last 12 quarters of dataView full earnings history →

Latest NNI News

Recent stock market news and headlines for Nelnet, Inc. (NNI)

PRNewsWire·Jun 29, 2026
Nelnet Bank Steps Up for Graduate Students Facing New Borrowing Challenges

As Grad PLUS loan changes approach July 1, Nelnet Bank offers clear, flexible financing options designed to help students move forward with confidence DRAPER, Utah, June 29, 2026 /PRNewswire/ -- With major federal student loan changes scheduled to take effect July 1, including the phaseout of Grad PLUS loans for new borrowers, many students and families are reassessing how they plan to pay for graduate school. As borrowers explore new financing options and prepare for upcoming enrollment and tuition deadlines, Nelnet Bank is ready to help with graduate student loan solutions built around clarity, flexibility, and support.

Peers Comparison

Key metrics vs top competitors for Nelnet, Inc. (NNI)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
NNI logoNNINelnet, Inc.Current
$134.31$4.83B11.6022.56%18.93%12.46%0.88%
SLM logoSLMSLM Corporation
$25.53$5.06B7.384.1%33.13%31.01%—
NAVI logoNAVINavient Corporation
$8.39$788.57M-10.36-23.74%-1.96%-2.45%—
WRLD logoWRLDWorld Acceptance Corporation
$201.61$935.54M29.303.7%5.98%9.36%—
ENVA logoENVAEnova International, Inc.
$234.78$5.86B20.2718.58%9.95%24.88%—
PFSI logoPFSIPennyMac Financial Services, Inc.
$83.75$4.37B9.01173.81%14.31%12.02%—

Compare NNI vs Peers

Nelnet, Inc. (NNI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs SLM

Most directly comparable listed peer for NNI.

Scale Benchmark

vs INTU

Larger-name benchmark to compare NNI against a more recognizable public peer.

Peer Set

Compare Top 5

vs SLM, NAVI, WRLD, ENVA

NNI SEC Filings & Documents

Nelnet, Inc. (NNI) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

Apr 2, 2026·SEC

Material company update

Mar 23, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 27, 2025·SEC

FY 2024

Feb 27, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 6, 2025·SEC

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NNI Frequently Asked Questions

Nelnet, Inc. (NNI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Nelnet, Inc.'s revenue?

Nelnet, Inc. (NNI) reported $2.14B in revenue for fiscal year 2025.

How fast is Nelnet, Inc. growing?

Nelnet, Inc. (NNI) grew revenue by 22.6% over the past year. This is strong growth.

Is NNI profitable?

Yes, Nelnet, Inc. (NNI) is profitable, generating $417.0M in net income for fiscal year 2025 (18.9% net margin).

Dividend & Returns
Does NNI pay dividends?

Yes, Nelnet, Inc. (NNI) pays a dividend with a yield of 0.88%. This makes it attractive for income-focused investors.

What is NNI's return on equity?

Nelnet, Inc. (NNI) has a return on equity (ROE) of 12.5%. This is reasonable for most industries.

What is Nelnet, Inc.'s free cash flow?

Nelnet, Inc. (NNI) generated $370.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in NNI back in 2002?

Total return calculator · dividends reinvested · 24+ years of data

See returns →