Nelnet, Inc. (NNI) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 1.6B | 1.81B | 1.55B | 1.49B | 1.45B | 1.37B | 1.33B | 1.22B | 1.35B | 1.36B | 1.43B | 1.36B | 1.44B | 1.73B | 1.6B | 1.58B | 1.25B | 1.22B | 1.05B | 979.7M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | 1.67K | 90.11 | 25.6 | 19.11 | 27.98 | 33.22 | 33.17 | 29.47 | 29.12 | 34.95 | 25.42 | 28.46 | 32.77 | 30.79 | 23.5 | 30.54 | 28.07 | 26.41 | 23.66 | 22.78 |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | -17.18B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 12.58B | 12.25B | 12.32B | 12.22B | 12.74B | 12.41B | 12.76B | 13.28B | 14.05B | 15.36B | 15.79B | 16.45B | 16.64B | 17.64B | 17.97B | 19.05B | 19.74B | 20.46B | 21.35B | 22.05B |
| Property, Plant & Equipment | 84.61M | 85.21M | 93.17M | 85.04M | 89.58M | 95.19M | 124.58M | 131.67M | 149.25M | 127.01M | 126.7M | 130.45M | 132.63M | 122.53M | 127.09M | 123.74M | 120.78M | 119.41M | 117.3M | 128.53M |
| Fixed Asset Turnover | 6.19x | 5.65x | 5.55x | 7.02x | 5.05x | 3.95x | 3.39x | 3.24x | 3.74x | 3.38x | 3.74x | 3.49x | 3.72x | 3.79x | 3.77x | 3.23x | 4.11x | 3.56x | 2.60x | 2.56x |
| Goodwill | 203.93M | 0 | 158.03M | 158.03M | 158.03M | 158.03M | 158.03M | 158.03M | 158.03M | 158.03M | 176.9M | 176.9M | 176.9M | 176.9M | 172.03M | 149.12M | 142.09M | 142.09M | 142.09M | 142.09M |
| Intangible Assets | 97.58M | 187.31M | 31.75M | 33.28M | 34.8M | 36.33M | 38.37M | 40.52M | 42.67M | 44.82M | 51.91M | 57.29M | 60.79M | 63.5M | 70.37M | 70.09M | 49.54M | 52.03M | 55.18M | 58.46M |
| Long-Term Investments | 11.92B | 11.79B | 10.95B | 10.83B | 11.36B | 10.94B | 11.4B | 11.79B | 12.61B | 13.86B | 14.6B | 15.18B | 15.36B | 15.86B | 16.45B | 17.51B | 18.28B | 18.95B | 19.86B | 20.72B |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 14.18B | 14.06B | 13.88B | 13.71B | 14.19B | 13.78B | 14.08B | 14.5B | 15.4B | 16.71B | 17.22B | 17.81B | 18.08B | 19.37B | 19.56B | 20.62B | 20.99B | 21.68B | 22.4B | 23.03B |
| Asset Turnover | 0.04x | 0.04x | 0.04x | 0.04x | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.01x | 0.01x |
| Asset Growth % | -0.1% | 2.08% | -1.47% | -5.45% | -7.84% | -17.56% | -18.22% | -18.57% | -14.84% | -13.74% | -11.97% | -13.66% | -13.85% | -10.63% | -12.67% | -10.44% | -5.31% | -4.28% | 0.81% | 1.85% |
| Total Current Liabilities | 0 | 4.74M | 2.66B | 2.02B | 2.23B | 2.15B | 2.18B | 2B | 2.06B | 2.41B | 2.65B | 2.79B | 2.19B | 2.43B | 1.45B | 1.2B | 982.34M | 949.79M | 528.03M | 950.02M |
| Accounts Payable | 0 | 0 | 19.04M | 19.3M | 22.39M | 21.05M | 25.39M | 27.14M | 31.98M | 35.39M | 36.39M | 35.93M | 34.37M | 36.05M | 21.8M | 12.96M | 7.22M | 4.57M | 4.44M | 4.92M |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 4.74M | 1.16B | 621.34M | 890.68M | 943.16M | 1.09B | 1.08B | 1.22B | 1.63B | 1.89B | 2.02B | 1.48B | 1.7B | 843.41M | 594.77M | 491.07M | 600.91M | 322.94M | 742.26M |
| Deferred Revenue (Current) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 0 | 0 | 1.48B | 1.36B | 1.31B | 1.19B | 1.07B | 890.47M | 802.06M | 743.6M | 718.05M | 731.05M | 675.77M | 691.32M | 580.83M | 588.47M | 484.05M | 344.31M | 200.65M | 202.84M |
| Current Ratio | - | 382.15x | 0.58x | 0.74x | 0.65x | 0.64x | 0.61x | 0.61x | 0.66x | 0.56x | 0.54x | 0.49x | 0.66x | 0.71x | 1.10x | 1.32x | 1.27x | 1.28x | 1.99x | 1.03x |
| Quick Ratio | - | 382.15x | 0.58x | 0.74x | 0.65x | 0.64x | 0.61x | 0.61x | 0.66x | 0.56x | 0.54x | 0.49x | 0.66x | 0.71x | 1.10x | 1.32x | 1.27x | 1.28x | 1.99x | 1.03x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 10.57B | 10.48B | 7.63B | 8.21B | 8.6B | 8.33B | 8.69B | 9.28B | 10.08B | 11.1B | 11.32B | 11.77B | 12.67B | 13.75B | 14.95B | 16.34B | 16.92B | 17.78B | 19.02B | 19.25B |
| Long-Term Debt | 7.7B | 7.79B | 6.66B | 7.28B | 7.77B | 7.37B | 7.85B | 8.49B | 9.36B | 10.2B | 10.56B | 11.05B | 11.96B | 12.94B | 14.2B | 15.52B | 16.25B | 17.03B | 18.29B | 18.64B |
| Capital Lease Obligations | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 10.57B | 10.49B | 10.29B | 10.23B | 10.83B | 10.48B | 10.87B | 11.28B | 12.14B | 13.51B | 13.96B | 14.56B | 14.86B | 16.17B | 16.4B | 17.53B | 17.9B | 18.73B | 19.55B | 20.2B |
| Total Debt | 7.7B | 7.79B | 7.82B | 7.9B | 8.66B | 8.31B | 8.94B | 9.57B | 10.58B | 11.83B | 12.45B | 13.07B | 13.44B | 14.64B | 15.04B | 16.12B | 16.74B | 17.65B | 18.61B | 19.38B |
| Net Debt | 7.58B | 6.82B | 7.61B | 7.68B | 8.44B | 8.12B | 8.72B | 9.42B | 10.4B | 11.66B | 12.26B | 12.95B | 13.25B | 14.52B | 14.98B | 15.99B | 16.57B | 17.52B | 18.42B | 19.17B |
| Debt / Equity | 2.14x | 2.18x | 2.18x | 2.27x | 2.57x | 2.52x | 2.78x | 2.97x | 3.25x | 3.70x | 3.82x | 4.02x | 4.17x | 4.57x | 4.75x | 5.21x | 5.43x | 5.98x | 6.51x | 6.85x |
| Debt / EBITDA | 35.57x | 38.23x | 51.36x | 29.64x | 66.97x | 79.18x | 261.54x | 101.68x | 82.74x | - | 146.10x | 150.59x | 205.24x | 152.42x | 90.28x | 110.28x | 60.44x | 94.42x | 179.35x | 131.32x |
| Net Debt / EBITDA | 35.02x | 33.45x | 49.94x | 28.79x | 65.26x | 77.33x | 255.11x | 100.14x | 81.34x | - | 143.89x | 149.19x | 202.37x | 151.18x | 89.90x | 109.40x | 59.85x | 93.75x | 177.51x | 129.88x |
| Interest Coverage | 1.69x | 1.39x | 1.13x | 1.79x | 0.85x | 0.56x | -0.01x | 0.33x | 0.48x | -0.19x | 0.24x | 0.12x | 0.16x | 0.18x | 1.00x | 1.47x | 5.00x | 3.48x | 1.33x | 2.19x |
| Total Equity | 3.61B | 3.58B | 3.59B | 3.48B | 3.36B | 3.3B | 3.21B | 3.22B | 3.26B | 3.2B | 3.26B | 3.25B | 3.22B | 3.2B | 3.17B | 3.09B | 3.09B | 2.95B | 2.86B | 2.83B |
| Equity Growth % | 7.23% | 8.43% | 11.73% | 8.16% | 3.23% | 3.09% | -1.5% | -0.85% | 1.07% | 0.01% | 2.93% | 5.06% | 4.48% | 8.37% | 10.83% | 9.28% | 12.22% | 12.35% | 18.9% | 20.84% |
| Book Value per Share | 99.95 | 98.43 | 98.76 | 95.45 | 92.19 | 90.48 | 88.12 | 88.16 | 87.68 | 85.67 | 86.92 | 86.67 | 86.31 | 85.81 | 84.71 | 81.97 | 81.10 | 76.99 | 74.02 | 73.01 |
| Total Shareholders' Equity | 3.73B | 3.69B | 3.65B | 3.57B | 3.42B | 3.35B | 3.29B | 3.29B | 3.31B | 3.25B | 3.29B | 3.26B | 3.23B | 3.2B | 3.18B | 3.1B | 3.09B | 2.95B | 2.86B | 2.83B |
| Common Stock | 359K | 359K | 360K | 362K | 364K | 363K | 363K | 363K | 368K | 371K | 374K | 373K | 373K | 372K | 372K | 373K | 379K | 379K | 383K | 386K |
| Retained Earnings | 3.73B | 3.68B | 3.65B | 3.58B | 3.41B | 3.34B | 3.29B | 3.3B | 3.31B | 3.27B | 3.31B | 3.27B | 3.25B | 3.23B | 3.21B | 3.13B | 3.09B | 2.94B | 2.84B | 2.81B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -3.53M | 2.62M | 3.5M | -2.21M | -429K | 1.47M | -1.43M | -2.26M | -8.48M | -20.12M | -25.44M | -21.46M | -27.01M | -37.37M | -28.64M | -31.86M | -5.5M | 9.3M | 13.48M | 10.94M |
| Minority Interest | -125.28M | -108.56M | -66.59M | -92.29M | -56.51M | -50.65M | -80.51M | -74.04M | -48.08M | -53.64M | -35.83M | -11.77M | -6.35M | 943K | -14.26M | -6.24M | -3.25M | 1.63M | -2.29M | -5.18M |