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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

129.38 2.37 +1.87%

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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 '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
P/E ratio Full definition →	11.30	21.36	36.02	8.33	9.58	7.78	16.50	9.40	13.21	8.56
Piotroski F-Score Full definition →	7	9	6	7	8	8	7	6	6	7
P/S ratio Full definition →	2.14	1.83	1.62	1.70	2.51	1.61	1.31	1.23	1.83	1.71
P/FCF ratio Full definition →	12.18	6.10	9.19	5.42	8.94	11.80	11.30	14.68	13.74	9.45
P/Operating CF Full definition →	35.11	21.68	41.39	129.14	26.21	15.80	14.95	27.69	26.83	53.16
P/B ratio Full definition →	1.35	1.19	1.03	1.06	1.28	1.06	0.98	0.93	1.06	1.06
Price to Tangible BV Full definition →	1.43	1.26	1.10	1.14	1.37	1.15	1.08	1.05	1.15	1.17
EV/Sales Full definition →	4.12	4.25	6.01	7.33	12.40	11.65	12.02	13.13	17.97	19.80
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 →	21.97	13.72	28.30	21.30	38.76	57.73	71.56	84.60	69.69	84.76
EV/FCF Full definition →	23.42	14.16	34.16	23.33	44.18	85.47	103.63	157.11	135.08	109.39
Quick Ratio Full definition →	162.61	148.80	81.66	96.24	609.53	67.99	31.08	23.38	23.63	31.19
Current Ratio Full definition →	661.98	631.21	457.59	524.52	4,660.89	773.96	486.16	398.15	468.94	585.93
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 →	55.33%	60.31%	70.78%	75.55%	81.33%	85.32%	86.59%	88.10%	89.12%	90.72%
Debt/Equity Full definition →	2.18	2.52	3.70	4.57	5.97	7.35	8.59	9.60	9.86	11.91
Asset Turnover Full definition →	0.16	0.14	0.11	0.10	0.07	0.07	0.07	0.07	0.05	0.04
Operating CF/Net income Full definition →	0.99	3.60	4.81	1.68	1.22	0.99	2.11	1.19	1.86	1.17
Capex/Depreciation Full definition →	(0.29)	(0.16)	(0.51)	(0.34)	(0.45)	(0.57)	(0.48)	(0.68)	(1.13)	(0.55)
ROE Full definition →	12.46%	5.66%	2.81%	13.23%	14.09%	14.04%	6.03%	10.17%	8.18%	12.96%
ROA Full definition →	3.08%	1.21%	0.50%	1.98%	1.77%	1.52%	0.58%	0.93%	0.68%	0.89%
ROIC Full definition →	4.32%	1.71%	0.52%	2.25%	1.76%	1.41%	0.51%	0.77%	0.63%	0.98%
Return on Tangible Assets Full definition →	3.16%	1.38%	0.55%	2.14%	1.84%	1.58%	0.61%	0.92%	0.73%	0.96%
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 →	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 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 →	0.59%	0.56%	0.81%	0.71%	0.71%	0.97%	0.38%	0.37%	0.35%	0.34%
Graham Net Nets Full definition →	0.63	0.72	0.82	0.81	0.68	0.79	0.72	0.77	0.73	0.75
Graham Number Full definition →	161.46	100.64	68.52	143.80	132.55	117.76	68.86	84.21	69.47	81.08
Earnings Yield Full definition →	8.85%	4.68%	2.78%	12.01%	10.44%	12.86%	6.06%	10.64%	7.57%	11.68%
Free Cash Flow Yield Full definition →	8.21%	16.40%	10.88%	18.44%	11.18%	8.47%	8.85%	6.81%	7.28%	10.58%
Revenue per Share Full definition →	62.07	58.36	54.36	52.80	38.91	44.29	44.45	42.66	29.90	30.11
Operating CF per Share Full definition →	11.64	18.09	11.55	18.17	12.45	8.94	7.46	6.62	7.71	7.04
Capex per Share Full definition →	(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 Full definition →	10.92	17.52	9.57	16.58	10.92	6.04	5.15	3.57	3.98	5.45
Cash per Share Full definition →	91.40	85.47	77.24	92.27	72.15	49.96	36.70	35.24	28.30	33.38
Shareholders Equity per Share Full definition →	98.43	90.04	85.53	85.10	76.55	67.29	59.71	56.58	51.81	48.53
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 →	98.43	90.04	85.53	85.10	76.55	67.29	59.71	56.58	51.81	48.53
Free Cash Flow Full definition →	396.75	641.99	357.98	623.64	421.38	235.79	206.42	145.87	166.26	232.59
Working Capital Full definition →	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 Full definition →	(26.24)	(20.90)	(74.05)	(59.42)	(58.95)	(113.31)	(92.50)	(125.02)	(156.00)	(67.60)
Net Current Asset Value Full definition →	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 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 →	0.01	0.01	0.04	0.03	0.04	0.07	0.05	0.07	0.12	0.05
Price to Operating Income Full definition →	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 Full definition →	1.20	1.39	1.14	1.44	1.11	1.61	0.55	0.54	0.56	0.99
Cash ROIC Full definition →	2.70%	4.36%	2.00%	2.93%	1.80%	0.99%	0.85%	0.56%	0.67%	0.83%
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 →	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 Full definition →	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

Show all line items

Columns are period end dates · fundamentals updated 5 Nov 2026

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