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Nelnet, Inc.

NNI Financial Credit Services

Nelnet, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 5.49% from fiscal 2024.

Revenue: −23.0%
EPS: −27.6%
Free cash flow: +575.6%
Total debt: −13.5%

Quarter to September 2026, against a year earlier

129.89 2.88 +2.27%

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Market cap: $4.5B
P/E: 16.8×
Fwd P/E: 16.5×
Dividend yield: 1.04%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview

	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
P/E ratio Full definition →	8.56	13.21	9.40	16.50	7.78	9.58	8.33	36.02	21.36	11.30
Piotroski F-Score Full definition →	7	6	6	7	8	8	7	6	9	7
P/S ratio Full definition →	1.71	1.83	1.23	1.31	1.61	2.51	1.70	1.62	1.83	2.14
P/FCF ratio Full definition →	9.45	13.74	14.68	11.30	11.80	8.94	5.42	9.19	6.10	12.18
P/Operating CF Full definition →	53.16	26.83	27.69	14.95	15.80	26.21	129.14	41.39	21.68	35.11
P/B ratio Full definition →	1.06	1.06	0.93	0.98	1.06	1.28	1.06	1.03	1.19	1.35
Price to Tangible BV Full definition →	1.17	1.15	1.05	1.08	1.15	1.37	1.14	1.10	1.26	1.43
EV/Sales Full definition →	19.80	17.97	13.13	12.02	11.65	12.40	7.33	6.01	4.25	4.12
EV/EBITDA Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EV/Operating CF Full definition →	84.76	69.69	84.60	71.56	57.73	38.76	21.30	28.30	13.72	21.97
EV/FCF Full definition →	109.39	135.08	157.11	103.63	85.47	44.18	23.33	34.16	14.16	23.42
Quick Ratio Full definition →	31.19	23.63	23.38	31.08	67.99	609.53	96.24	81.66	148.80	162.61
Current Ratio Full definition →	585.93	468.94	398.15	486.16	773.96	4,660.89	524.52	457.59	631.21	661.98
Net Debt/EBITDA Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt/Assets Full definition →	90.72%	89.12%	88.10%	86.59%	85.32%	81.33%	75.55%	70.78%	60.31%	55.33%
Debt/Equity Full definition →	11.91	9.86	9.60	8.59	7.35	5.97	4.57	3.70	2.52	2.18
Asset Turnover Full definition →	0.04	0.05	0.07	0.07	0.07	0.07	0.10	0.11	0.14	0.16
Operating CF/Net income Full definition →	1.17	1.86	1.19	2.11	0.99	1.22	1.68	4.81	3.60	0.99
Capex/Depreciation Full definition →	(0.55)	(1.13)	(0.68)	(0.48)	(0.57)	(0.45)	(0.34)	(0.51)	(0.16)	(0.29)
ROE Full definition →	12.96%	8.18%	10.17%	6.03%	14.04%	14.09%	13.23%	2.81%	5.66%	12.46%
ROA Full definition →	0.89%	0.68%	0.93%	0.58%	1.52%	1.77%	1.98%	0.50%	1.21%	3.08%
ROIC Full definition →	0.98%	0.63%	0.77%	0.51%	1.41%	1.76%	2.25%	0.52%	1.71%	4.32%
Return on Tangible Assets Full definition →	0.96%	0.73%	0.92%	0.61%	1.58%	1.84%	2.14%	0.55%	1.38%	3.16%
Average Days of Receivables Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Research and Development Expense of Revenue Full definition →	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →	36.11%	41.46%	40.23%	44.88%	48.02%	49.89%	48.54%	49.62%	54.62%	51.84%
Intangible Assets out of Total Assets Full definition →	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Share Based Compensation of Revenue Full definition →	0.34%	0.35%	0.37%	0.38%	0.97%	0.71%	0.71%	0.81%	0.56%	0.59%
Graham Net Nets Full definition →	0.75	0.73	0.77	0.72	0.79	0.68	0.81	0.82	0.72	0.63
Graham Number Full definition →	81.08	69.47	84.21	68.86	117.76	132.55	143.80	68.52	100.64	161.46
Earnings Yield Full definition →	11.68%	7.57%	10.64%	6.06%	12.86%	10.44%	12.01%	2.78%	4.68%	8.85%
Free Cash Flow Yield Full definition →	10.58%	7.28%	6.81%	8.85%	8.47%	11.18%	18.44%	10.88%	16.40%	8.21%
Revenue per Share Full definition →	30.11	29.90	42.66	44.45	44.29	38.91	52.80	54.36	58.36	62.07
Operating CF per Share Full definition →	7.04	7.71	6.62	7.46	8.94	12.45	18.17	11.55	18.09	11.64
Capex per Share Full definition →	(1.58)	(3.73)	(3.06)	(2.31)	(2.90)	(1.53)	(1.58)	(1.98)	(0.57)	(0.72)
Free Cash Flow per Share Full definition →	5.45	3.98	3.57	5.15	6.04	10.92	16.58	9.57	17.52	10.92
Cash per Share Full definition →	33.38	28.30	35.24	36.70	49.96	72.15	92.27	77.24	85.47	91.40
Shareholders Equity per Share Full definition →	48.53	51.81	56.58	59.71	67.29	76.55	85.10	85.53	90.04	98.43
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	48.53	51.81	56.58	59.71	67.29	76.55	85.10	85.53	90.04	98.43
Free Cash Flow Full definition →	232.59	166.26	145.87	206.42	235.79	421.38	623.64	357.98	641.99	396.75
Working Capital Full definition →	26,717.74	23,415.32	24,495.95	22,940.68	22,184.75	21,277.05	18,872.22	16,159.18	13,263.34	13,501.24
Capital Expenditures Full definition →	(67.60)	(156.00)	(125.02)	(92.50)	(113.31)	(58.95)	(59.42)	(74.05)	(20.90)	(26.24)
Net Current Asset Value Full definition →	1,641.25	1,666.31	1,651.44	1,670.08	2,195.64	2,556.42	2,734.13	2,682.29	2,805.75	3,035.12
EV/EBIT Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capex to Sales Full definition →	0.05	0.12	0.07	0.05	0.07	0.04	0.03	0.04	0.01	0.01
Price to Operating Income Full definition →	5.51	10.08	7.48	13.20	6.18	7.50	6.54	32.68	16.89	8.69
Other line items
Depreciation/Fixed assets Full definition →	0.99	0.56	0.54	0.55	1.61	1.11	1.44	1.14	1.39	1.20
Cash ROIC Full definition →	0.83%	0.67%	0.56%	0.85%	0.99%	1.80%	2.93%	2.00%	4.36%	2.70%
Accounts Receivable Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days of Inventory on Hand Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Assets Full definition →	28,806.12	25,578.77	24,592.71	24,464.97	23,177.57	22,162.10	20,526.04	18,043.21	15,245.07	13,920.77
Average Common Equity Full definition →	1,981.54	2,118.16	2,240.08	2,352.94	2,509.72	2,790.59	3,076.37	3,200.00	3,249.61	3,438.17

Show all line items

Columns are period end dates · fundamentals updated 5 Nov 2026

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