Nelnet, Inc.
NNI · Price history
Price at last available close
$122.75
−$1.30 (-1.05%) 1M
2026-10-27
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Company & revenue
About Nelnet, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Nelnet, Inc. operates globally, encompassing a variety of businesses including loan management, telecommunications, educational technology, related services, and payment processing solutions. Its Loan Servicing and Systems division offers comprehensive support for loan operations. This includes converting and processing loan applications, managing borrower data, providing customer service, handling payments, executing due diligence, reconciling funds, and processing claims.
How they make money
Nelnet is an operating holding company that generates revenue through student and consumer loan servicing, education-related technology and payment processing services, and net interest income from a portfolio of federally insured student loans. The company also diversifies its income through banking, asset management, real estate development, and strategic investments in renewable energy and emerging growth enterprises.
Products & services
The company provides loan servicing, payment processing, tuition management software, education technology solutions, and financial services including banking and asset management.
Brands & revenue mix
Tuition management and financial needs assessment services.
Separate brand revenue is not available in this research.Source
Core student loan servicing operations.
Separate brand revenue is not available in this research.Source
Loan servicing for private education and consumer loans.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
The company's loan servicing business is significantly dependent on contracts with the U.S. Department of Education, which represents a material concentration of its servicing revenue.
Suppliers, materials & equipment
No supplier relationships were confirmed in the sources reviewed. This does not mean the company has no suppliers.
Competitors
Strengths
Sources
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly revenue fell 45.6% versus the same quarter last year.
Check comparable business scope and currency, then separate volume, pricing and divestitures. One weaker quarter does not establish that the same decline will continue.
Quarterly EPS fell 62.8% versus the same quarter last year.
Review net income and weighted-average shares together. Per-share earnings can change because of operating performance, nonrecurring items or the share denominator.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
49
Weak
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
48
Weak
Financial Strength
55
Business Quality / Moat
64
Management
41
Growth Quality
9
Risk / Durability
58
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
60
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
53/100
Building Historical Record
Model Score 53/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as moderate rather than unusually attractive.
The model outlook is currently moderate.
- •Valuation scores attractively
- •Recent buyback activity is present
- •M&A headline · Oct 5, 2026
- •Revenue fundamentals are weak
Company-specific research
Questions worth answering for NNI
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •What is driving NNI's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
- •Is NNI's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is NNI's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •Is NNI's valuation discount tied to a temporary concern or to a longer-term business risk?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of NNI's score?
Essential Investment Snapshot
Wall Street Score
49
Opportunity Score
60
Market Cap
$4.39B
P/E Ratio
14.9
EPS
$8.33
52-Week High
$144.38
52-Week Low
$116.62
Beta
0.77
Intrinsic Value
$197.40
Shares Outstanding
36.3M
Total Revenue
$1.86B
Total Debt
$7.04B
Dividend Yield (TTM)
1.08%
Liquidation Value / Share
$100.07
Dividend / Share (TTM)
$1.32
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Weakening momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for NNI
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
M&A headline · Oct 5, 2026
Nelnet Business Services Acquires International School Management Technology Provider, Entab — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
PRNewsWireCommunity Sentiment
0 active · 0 total callsNo personal call yet on NNI.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Diversified business model across education, technology, and financial services.
- +Established infrastructure and expertise in loan servicing and payment processing.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Financial - Credit Services industry.
- −Dependence on U.S. Department of Education contracts.
- −Regulatory and legislative changes affecting student lending and education policy.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
50
Oct 1, 2026
Change
-0.2
points
Current Score
49
Oct 8, 2026
Category Changes
NNI decreased 0.2 points because some fundamentals weakened.
Projected Score
Projected Score
40
Projected Change
-9.6 points
Preliminary comparable-period financial changes suggest decline of approximately 9.6 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
UndervaluedCurrent Price
$122.75
Model Intrinsic Value
$197.40
Difference
−$74.65
-37.8% vs IV
Margin of Safety
37.8%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.86B | $2.26B | $1.85B | $1.81B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $320.8M | $293.4M | $735.1M | $853.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $1.54B | $1.97B | $1.11B | $961.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $350.2M | $0.00 | $632.2M | $608.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $973.1M | $821.7M | $882.9M | $892.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $561.8M | $1.11B | $361.1M | $214.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $563.8M | $1.14B | $228.6M | $68.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $457.5M | $496.9M | $680.5M | $845.1M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $323.9M | $526.3M | $228.6M | $68.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $83.5M | $128.0M | $52.7M | $19.4M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $302.2M | $428.5M | $184.0M | $89.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $8.33 | $11.58 | $5.02 | $2.39 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 36.04M | 36.33M | 36.64M | 37.42M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 36.04M | 36.33M | 36.64M | 37.42M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$333.6M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$1.85
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
-10.9%
Cash Change
-23.6%
Margin Change
-9.6 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Debt reduced
What Weakened
- Margins contracted
- Cash position declined
Potential Score Impact
Positive indicators included debt levels. Pressure indicators included revenue growth, EPS growth, cash levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 45.6%. EPS declined 62.8%. Cash declined 23.6%. Total debt declined 10.9%. Net income margin declined by 9.6 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Log in to view dividend history.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Financial - Credit ServicesNews
Critical Review: Nelnet (NYSE:NNI) & OppFi (NYSE:OPFI)
Nelnet Business Services Acquires International School Management Technology Provider, Entab
Head-To-Head Review: Nelnet (NYSE:NNI) versus Upbound Group (NASDAQ:UPBD)
Nelnet Board of Directors Appoints Two New Members
Rumor Mill · NNI
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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