Rankings
▼
Calendar
NNI
Nelnet, Inc.
Mkt Cap
$5B
Financial Services
·
Financial - Credit Services
·
🇺🇸 United States
·
NYSE
Revenue (TTM)
$2.1B
Net Income (TTM)
$428M
EPS (TTM)
$11.74
Free Cash Flow (TTM)
$397M
Gross Margin
76.9%
Op. Margin
32.5%
Net Margin
20.6%
FCF Margin
19.1%
P/S Ratio (TTM)
2.3x
P/E Ratio (TTM)
11.0x
YoY Rev Growth
+12.9%
Employees
—
Earnings Reports
▶
Q4 2025
NEW
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$475M
$241M
$31M
Q2 23
$459M
$237M
$27M
Q3 23
$481M
$270M
$50M
Q4 23
$429M
$213M
-$40M
Q1 24
$517M
$311M
$94M
Q2 24
$455M
$275M
$58M
Q3 24
$435M
$248M
-$2M
Q4 24
$434M
$271M
$78M
Q1 25
$466M
$326M
$106M
Q2 25
$613M
$462M
$237M
Q3 25
$495M
$377M
$136M
Q4 25
$504M
$432M
$195M
marketcaparena.com
Revenue Breakdown
NNI
Nelnet, Inc.
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
2.6x
19.0x
Q2 23
2.5x
24.8x
Q3 23
2.5x
36.4x
Q4 23
2.5x
52.4x
Q1 24
2.5x
34.4x
Q2 24
2.5x
30.4x
Q3 24
2.6x
41.8x
Q4 24
2.6x
25.5x
Q1 25
2.6x
24.3x
Q2 25
2.4x
14.3x
Q3 25
2.3x
10.8x
Q4 25
2.3x
11.0x
marketcaparena.com
Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$123M
$98M
Q2 23
$76M
$63M
Q3 23
$154M
$139M
Q4 23
$80M
$58M
Q1 24
$212M
$188M
Q2 24
$133M
$123M
Q3 24
$137M
$133M
Q4 24
$181M
$198M
Q1 25
$91M
$88M
Q2 25
$82M
$78M
Q3 25
$112M
$101M
Q4 25
$138M
$130M
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$24M
Q2 23
$13M
Q3 23
$15M
Q4 23
$21M
Q1 24
$23M
Q2 24
$11M
Q3 24
$4M
Q4 24
$17M
Q1 25
$3M
Q2 25
$4M
Q3 25
$12M
Q4 25
$7M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
-3.8%
+75.1%
Q2 23
+16.3%
+50.8%
Q3 23
+1.7%
+24.5%
Q4 23
-9.3%
+6.6%
Q1 24
+8.8%
-4.7%
Q2 24
-0.8%
-8.1%
Q3 24
-9.6%
+1.4%
Q4 24
+1.1%
-24.2%
Q1 25
-9.8%
-14.9%
Q2 25
+34.7%
-5.3%
Q3 25
+13.8%
-18.0%
Q4 25
+16.1%
-13.0%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$4M
0.8%
Q2 23
$4M
0.9%
Q3 23
$4M
0.9%
Q4 23
$4M
1.0%
Q1 24
$3M
0.6%
Q2 24
$3M
0.6%
Q3 24
$3M
0.7%
Q4 24
$3M
0.7%
Q1 25
$0
0.0%
Q2 25
$0
0.0%
Q3 25
$0
0.0%
Q4 25
$0
0.0%
marketcaparena.com
OpEx Breakdown
G&A
Quarter
G&A
Q1 23
$153M
Q2 23
$145M
Q3 23
$141M
Q4 23
$153M
Q1 24
$155M
Q2 24
$151M
Q3 24
$146M
Q4 24
$202M
Q1 25
$160M
Q2 25
$160M
Q3 25
$165M
marketcaparena.com
Revenue Segments
Loan Servicing And Systems Revenue
Other Service Offering
Payment Processing
Private Education And Consumer Loan Servicing
Software Services
Tuition Payment Plan Services
Education Technology And Services
Education Technology Services And Payment Processing Services
FFELP Servicing
Outsourced Services Revenue And Other
Quarter
Loan Servicing And Systems Revenue
Other Service Offering
Payment Processing
Private Education And Consumer Loan Servicing
Software Services
Tuition Payment Plan Services
Education Technology And Services
Education Technology Services And Payment Processing Services
FFELP Servicing
Outsourced Services Revenue And Other
Q4 24
$247M
$2M
$75M
$38M
$11M
$65M
—
—
—
—
Q1 25
$121M
$27K
$52M
$23M
$7M
$40M
$56M
$147M
$3M
$1M
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$188M
$1.1B
$1.3B
Q2 23
$122M
$1.0B
$1.2B
Q3 23
$188M
$1.1B
$1.2B
Q4 23
$168M
$938M
$1.1B
Q1 24
$180M
$983M
$1.2B
Q2 24
$145M
$889M
$1.0B
Q3 24
$220M
$926M
$1.1B
Q4 24
$195M
$984M
$1.2B
Q1 25
$221M
$1.0B
$1.3B
Q2 25
$226M
$1.1B
$1.3B
Q3 25
$216M
$1.2B
$1.4B
Q4 25
$2.6B
$0
$2.6B
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
37M
+0.1%
Q2 23
37M
+0.3%
Q3 23
37M
+0.1%
Q4 23
37M
-0.4%
Q1 24
37M
-0.5%
Q2 24
37M
-1.7%
Q3 24
36M
-0.3%
Q4 24
36M
+0.1%
Q1 25
36M
+0.0%
Q2 25
36M
+0.0%
Q3 25
36M
-0.5%
Q4 25
36M
+0.1%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$357K
3K
FY 15
$327K
3K
FY 16
$323K
4K
FY 17
$655K
2K
FY 18
$271K
6K
FY 19
$254K
7K
FY 20
$208K
7K
FY 21
$215K
7K
FY 22
$275K
7K
FY 23
$5M
350
FY 24
$8M
220
FY 25
$10M
220
marketcaparena.com
NNI (Nelnet, Inc.) Stock Financials & Earnings | Market Cap Arena