Saturday 17 October 2026
Export NNI’s income statement to Excel — free account
Nelnet, Inc.
Nelnet, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 5.49% from fiscal 2024. In the quarter to June 2026, revenue fell 23.0%, EPS fell 62.8%, free cash flow fell 52.3% and total debt fell 10.9%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for three.
127.57
0.45
−0.35%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
11.30 | 21.36 | 36.02 | 8.33 | 9.58 | 7.78 | 16.50 | 9.40 | 13.21 | 8.56 |
Piotroski F-Score |
7 | 9 | 6 | 7 | 8 | 8 | 7 | 6 | 6 | 7 |
P/S ratio |
2.14 | 1.83 | 1.62 | 1.70 | 2.51 | 1.61 | 1.31 | 1.23 | 1.83 | 1.71 |
P/FCF ratio |
12.18 | 6.10 | 9.19 | 5.42 | 8.94 | 11.80 | 11.30 | 14.68 | 13.74 | 9.45 |
P/Operating CF |
35.11 | 21.68 | 41.39 | 129.14 | 26.21 | 15.80 | 14.95 | 27.69 | 26.83 | 53.16 |
P/B ratio |
1.35 | 1.19 | 1.03 | 1.06 | 1.28 | 1.06 | 0.98 | 0.93 | 1.06 | 1.06 |
Price to Tangible BV |
1.43 | 1.26 | 1.10 | 1.14 | 1.37 | 1.15 | 1.08 | 1.05 | 1.15 | 1.17 |
EV/Sales |
4.12 | 4.25 | 6.01 | 7.33 | 12.40 | 11.65 | 12.02 | 13.13 | 17.97 | 19.80 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
21.97 | 13.72 | 28.30 | 21.30 | 38.76 | 57.73 | 71.56 | 84.60 | 69.69 | 84.76 |
EV/FCF |
23.42 | 14.16 | 34.16 | 23.33 | 44.18 | 85.47 | 103.63 | 157.11 | 135.08 | 109.39 |
Quick Ratio |
162.61 | 148.80 | 81.66 | 96.24 | 609.53 | 67.99 | 31.08 | 23.38 | 23.63 | 31.19 |
Current Ratio |
661.98 | 631.21 | 457.59 | 524.52 | 4,660.89 | 773.96 | 486.16 | 398.15 | 468.94 | 585.93 |
Net Debt/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Assets |
55.33% | 60.31% | 70.78% | 75.55% | 81.33% | 85.32% | 86.59% | 88.10% | 89.12% | 90.72% |
Debt/Equity |
2.18 | 2.52 | 3.70 | 4.57 | 5.97 | 7.35 | 8.59 | 9.60 | 9.86 | 11.91 |
Asset Turnover |
0.16 | 0.14 | 0.11 | 0.10 | 0.07 | 0.07 | 0.07 | 0.07 | 0.05 | 0.04 |
Operating CF/Net income |
0.99 | 3.60 | 4.81 | 1.68 | 1.22 | 0.99 | 2.11 | 1.19 | 1.86 | 1.17 |
Capex/Depreciation |
(0.29) | (0.16) | (0.51) | (0.34) | (0.45) | (0.57) | (0.48) | (0.68) | (1.13) | (0.55) |
| 12.46% | 5.66% | 2.81% | 13.23% | 14.09% | 14.04% | 6.03% | 10.17% | 8.18% | 12.96% | |
| 3.08% | 1.21% | 0.50% | 1.98% | 1.77% | 1.52% | 0.58% | 0.93% | 0.68% | 0.89% | |
ROIC |
4.32% | 1.71% | 0.52% | 2.25% | 1.76% | 1.41% | 0.51% | 0.77% | 0.63% | 0.98% |
Return on Tangible Assets |
3.16% | 1.38% | 0.55% | 2.14% | 1.84% | 1.58% | 0.61% | 0.92% | 0.73% | 0.96% |
Average Days of Receivables |
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 |
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 |
51.84% | 54.62% | 49.62% | 48.54% | 49.89% | 48.02% | 44.88% | 40.23% | 41.46% | 36.11% |
Intangible Assets out of Total Assets |
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 |
0.59% | 0.56% | 0.81% | 0.71% | 0.71% | 0.97% | 0.38% | 0.37% | 0.35% | 0.34% |
Graham Net Nets |
0.63 | 0.72 | 0.82 | 0.81 | 0.68 | 0.79 | 0.72 | 0.77 | 0.73 | 0.75 |
Graham Number |
161.46 | 100.64 | 68.52 | 143.80 | 132.55 | 117.76 | 68.86 | 84.21 | 69.47 | 81.08 |
Earnings Yield |
8.85% | 4.68% | 2.78% | 12.01% | 10.44% | 12.86% | 6.06% | 10.64% | 7.57% | 11.68% |
Free Cash Flow Yield |
8.21% | 16.40% | 10.88% | 18.44% | 11.18% | 8.47% | 8.85% | 6.81% | 7.28% | 10.58% |
Revenue per Share |
62.07 | 58.36 | 54.36 | 52.80 | 38.91 | 44.29 | 44.45 | 42.66 | 29.90 | 30.11 |
Operating CF per Share |
11.64 | 18.09 | 11.55 | 18.17 | 12.45 | 8.94 | 7.46 | 6.62 | 7.71 | 7.04 |
Capex per Share |
(0.72) | (0.57) | (1.98) | (1.58) | (1.53) | (2.90) | (2.31) | (3.06) | (3.73) | (1.58) |
Free Cash Flow per Share |
10.92 | 17.52 | 9.57 | 16.58 | 10.92 | 6.04 | 5.15 | 3.57 | 3.98 | 5.45 |
Cash per Share |
91.40 | 85.47 | 77.24 | 92.27 | 72.15 | 49.96 | 36.70 | 35.24 | 28.30 | 33.38 |
Shareholders Equity per Share |
98.43 | 90.04 | 85.53 | 85.10 | 76.55 | 67.29 | 59.71 | 56.58 | 51.81 | 48.53 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
98.43 | 90.04 | 85.53 | 85.10 | 76.55 | 67.29 | 59.71 | 56.58 | 51.81 | 48.53 |
Free Cash Flow |
396.75 | 641.99 | 357.98 | 623.64 | 421.38 | 235.79 | 206.42 | 145.87 | 166.26 | 232.59 |
Working Capital |
13,501.24 | 13,263.34 | 16,159.18 | 18,872.22 | 21,277.05 | 22,184.75 | 22,940.68 | 24,495.95 | 23,415.32 | 26,717.74 |
Capital Expenditures |
(26.24) | (20.90) | (74.05) | (59.42) | (58.95) | (113.31) | (92.50) | (125.02) | (156.00) | (67.60) |
Net Current Asset Value |
3,035.12 | 2,805.75 | 2,682.29 | 2,734.13 | 2,556.42 | 2,195.64 | 1,670.08 | 1,651.44 | 1,666.31 | 1,641.25 |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.01 | 0.01 | 0.04 | 0.03 | 0.04 | 0.07 | 0.05 | 0.07 | 0.12 | 0.05 |
Price to Operating Income |
8.69 | 16.89 | 32.68 | 6.54 | 7.50 | 6.18 | 13.20 | 7.48 | 10.08 | 5.51 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
1.20 | 1.39 | 1.14 | 1.44 | 1.11 | 1.61 | 0.55 | 0.54 | 0.56 | 0.99 |
Cash ROIC |
2.70% | 4.36% | 2.00% | 2.93% | 1.80% | 0.99% | 0.85% | 0.56% | 0.67% | 0.83% |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
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 |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Assets |
13,920.77 | 15,245.07 | 18,043.21 | 20,526.04 | 22,162.10 | 23,177.57 | 24,464.97 | 24,592.71 | 25,578.77 | 28,806.12 |
Average Common Equity |
3,438.17 | 3,249.61 | 3,200.00 | 3,076.37 | 2,790.59 | 2,509.72 | 2,352.94 | 2,240.08 | 2,118.16 | 1,981.54 |
Columns are period end dates