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Equiscale · Syntellia LLC
Nelnet, Inc. engages in loan servicing, education technology services, and payment businesses worldwide. The company operates through four segments: Loan Servicing and Systems, Education Technology Services and Payments, Asset Generation and Management, and Nelnet Bank. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer, payment processing, due diligence procedures, funds management reconciliation, and claim processing services. This segment also offers student loan servicing software; and business process outsourcing services primarily in contact center management, such as inbound calls, outreach campaigns and sales, and interacting with customers through multi-channels, and processing and administrative services. The Education Technology Services and Payments segment provides financial management services; school information system software; a donation platform; education technology solutions; and customized professional development and coaching, and advanced learning and educational instruction services. This segment 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; learning management system; an integrated commerce payment platform; and a school management platform that provides administrative, information and financial management, and communication functions for K-12 schools. The Asset Generation and Management segment invest, allocates an manages loan assts. The Nelnet Bank segment operates as an internet industrial bank. It also offers investment advisory, investment, and reinsurance services, as well as engages in the real estate investment; and solar engineering, procurement, and construction businesses. The company was founded in 1977 and is headquartered in Lincoln, Nebraska.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.4B | - | $428M | $397M | 11.6% | 15.9% | 132.8% |
| 2024 | $1.2B | - | $184M | $642M | 5.5% | 20.4% | 104.9% |
| 2023 | $968M | - | $90M | $358M | 2.8% | -30.2% | -77.9% |
| 2022 | $1.4B | - | $407M | $624M | 12.7% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,386.78 | 968.45 | 1,166.07 | 1,351.08 |
| Operating Revenue | - | 1,386.78 | 968.45 | 1,166.07 | 1,351.08 |
| Selling General And Administration | - | 589.73 | 608.32 | 632.18 | 652.34 |
| Interest Income | - | 742.81 | 1,109.80 | 973.40 | 851.46 |
| Interest Expense | - | 430.14 | 845.09 | 680.54 | 496.95 |
| Net Interest Income | - | 312.67 | 264.71 | 292.86 | 354.51 |
| Pretax Income | - | 501.84 | 68.72 | 228.58 | 526.33 |
| Tax Provision | - | 113.10 | 19.39 | 52.67 | 127.99 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -3.50 | -5.54 | -0.69 | 32.33 |
| Net Income Continuous Operations | - | 388.74 | 49.33 | 175.92 | 398.35 |
| Net Income From Continuing And Discontinued Operation | - | 406.90 | 89.83 | 184.04 | 428.47 |
| Net Income From Continuing Operation Net Minority Interest | - | 406.90 | 89.83 | 184.04 | 428.47 |
| Net Income | - | 406.90 | 89.83 | 184.04 | 428.47 |
| Net Income Common Stockholders | - | 399.12 | 87.94 | 180.50 | 420.68 |
| Net Income Including Noncontrolling Interests | - | 388.74 | 49.33 | 175.92 | 398.35 |
| Normalized Income | - | 418.92 | 115.40 | 186.44 | 320.23 |
| Diluted NI Availto Com Stockholders | - | 399.12 | 87.94 | 180.50 | 420.68 |
| Basic Average Shares | - | 37.60 | 37.42 | 36.64 | 36.34 |
| Diluted Average Shares | - | 37.60 | 37.42 | 36.64 | 36.34 |
| Reconciled Depreciation | - | 176.25 | 145.39 | 132.53 | 90.62 |
| Total Unusual Items | - | -15.52 | -31.11 | -3.08 | 140.58 |
| Total Unusual Items Excluding Goodwill | - | -15.52 | -31.11 | -3.08 | 140.58 |
| Minority Interests | - | 18.15 | 40.50 | 8.13 | 30.13 |
| Special Income Charges | - | -15.52 | -31.11 | -3.08 | 140.58 |
| Gain On Sale Of Business | - | 0 | 0 | 0 | 175.04 |
| Write Off | - | 6.56 | 2.06 | 1.23 | 13.34 |
| Impairment Of Capital Assets | - | 8.96 | 29.86 | 1.91 | 16.27 |
| Gain On Sale Of Security | - | 240.04 | -141.09 | -10.48 | 28.88 |
| Depreciation Amortization Depletion Income Statement | - | 74.08 | 79.12 | 58.12 | 33.57 |
| Depreciation And Amortization In Income Statement | - | 74.08 | 79.12 | 58.12 | 33.57 |
| General And Administrative Expense | - | 589.73 | 608.32 | 632.18 | 652.34 |
| Salaries And Wages | - | 589.58 | 591.54 | 576.93 | 558.79 |
| Insurance And Claims | - | 0.15 | 16.78 | 55.25 | 93.55 |
| Otherunder Preferred Stock Dividend | - | 7.78 | 1.89 | 3.55 | 7.79 |
| Other Non Interest Expense | - | 170.62 | 173.07 | 189.50 | 211.57 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Nelnet, Inc.this co. | NNI | $4.7B | 11.06↓ discount | 1.26 | 11.4% | - |
| Associated Banc-Corp | ASB | $5.2B | 11.04 | 1.10 | 9.9% | - |
| Selective Insurance Group, Inc. | SIGI | $5.1B | 11.04 | 1.51 | 13.7% | - |
| First Financial Bankshares, Inc. | FFIN | $4.6B | 18.28 | 2.42 | 13.2% | - |
| International Bancshares Corporation | IBOC | $4.5B |
| - |
| - |
| - |
| - |
| 11.00 |
| 1.39 |
| 12.7% |
| - |
| Texas Capital Bancshares, Inc. | TCBI | $4.5B | 13.53 | 1.34 | 9.9% | - |
| CNO Financial Group, Inc. | CNO | $4.4B | 19.18 | 1.67 | 8.7% | - |
| Eastern Bankshares, Inc. | EBC | $4.3B | 48.96 | 1.00 | 2.0% | - |
| PennyMac Financial Services, Inc. | PFSI | $4.2B | 8.45 | 0.98 | 11.6% | 43.48 |
| Peer Median | - | 12.29 | 1.37 | 10.8% | 43.48 | |
Historically, Jul has averaged the highest return (+5.1%); Sep the lowest (-3.1%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.8%Neutral MonthJan 2026: -0.80% | -1.8%Neutral MonthFeb 2026: -1.85% | -0.4%Neutral MonthMar 2026: -0.39% | +9.9%Positive MonthApr 2026: +9.88% | -7.9%Negative MonthMay 2026: -7.85% | +2.1%Positive MonthJun 2026: +2.11% | +1.9%Neutral MonthJul 2026: +1.91% | -7.2%*Negative MonthAug 2026: -7.18% | — | — | — | — |
| 2025 | +3.1%Positive MonthJan 2025: +3.15% | +11.1%Positive MonthFeb 2025: +11.09% | -9.4%Negative MonthMar 2025: -9.36% | -4.4%Negative MonthApr 2025: -4.36% | +9.5%Positive MonthMay 2025: +9.51% | +4.3%Positive MonthJun 2025: +4.25% | +3.0%Positive MonthJul 2025: +3.01% | +3.1%Positive MonthAug 2025: +3.08% | -2.5%Negative MonthSep 2025: -2.51% | +2.9%Positive MonthOct 2025: +2.93% | +0.1%Neutral MonthNov 2025: +0.15% | +2.9%Positive MonthDec 2025: +2.88% |
| 2024 | -1.2%Neutral MonthJan 2024: -1.24% | -1.4%Neutral MonthFeb 2024: -1.45% | +10.2%Positive MonthMar 2024: +10.22% | -0.5%Neutral MonthApr 2024: -0.50% | +10.1%Positive MonthMay 2024: +10.07% | -2.7%Negative MonthJun 2024: -2.70% | +11.7%Positive MonthJul 2024: +11.75% | +2.5%Positive MonthAug 2024: +2.55% | -2.0%Neutral MonthSep 2024: -1.99% | -0.5%Neutral MonthOct 2024: -0.51% | -3.4%Negative MonthNov 2024: -3.35% | -1.9%Neutral MonthDec 2024: -1.94% |
| 2023 | +5.2%Positive MonthJan 2023: +5.22% | -1.7%Neutral MonthFeb 2023: -1.70% | -2.1%Negative MonthMar 2023: -2.11% | +4.8%Positive MonthApr 2023: +4.80% | -3.9%Negative MonthMay 2023: -3.95% | +4.3%Positive MonthJun 2023: +4.30% | +2.3%Positive MonthJul 2023: +2.28% | -6.9%Negative MonthAug 2023: -6.92% | -2.8%Negative MonthSep 2023: -2.75% | -5.0%Negative MonthOct 2023: -5.05% | -1.1%Neutral MonthNov 2023: -1.07% | +5.1%Positive MonthDec 2023: +5.15% |
| 2022 | -9.4%Negative MonthJan 2022: -9.37% | -9.0%Negative MonthFeb 2022: -9.01% | +5.5%Positive MonthMar 2022: +5.51% | -3.4%Negative MonthApr 2022: -3.44% | +3.2%Positive MonthMay 2022: +3.19% | +0.7%Neutral MonthJun 2022: +0.66% | +11.5%Positive MonthJul 2022: +11.54% | -11.4%Negative MonthAug 2022: -11.41% | -6.0%Negative MonthSep 2022: -5.99% | +12.5%Positive MonthOct 2022: +12.50% | +10.6%Positive MonthNov 2022: +10.61% | -7.9%Negative MonthDec 2022: -7.91% |
| 2021 | — | — | — | — | +1.7%Neutral MonthMay 2021: +1.74% | -0.4%Neutral MonthJun 2021: -0.38% | +0.1%Neutral MonthJul 2021: +0.09% | +7.4%Positive MonthAug 2021: +7.41% | -2.0%Negative MonthSep 2021: -2.03% | +4.3%Positive MonthOct 2021: +4.28% | +4.3%Positive MonthNov 2021: +4.32% | +13.3%Positive MonthDec 2021: +13.32% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 6 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
