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NYSE · PERSONAL CREDIT INSTITUTIONS · LARGE CAP

Nelnet Inc. NNI

16 fiscal years on record · USD · FY2025 reported · SEC filings only

Net income

$428.5M

▲ 132.8% YoY

Free cash flow

$396.7M

▼ 38.2% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Growth

Revenue, FY2025 · full 16-year series below

Revenue $M Net income $M

FY2014 · Revenue 0.0 · Net income 307.6

150M300M

200920122016201920222025

Compound annual growth

Net income

+1.7%

+4.0%

EPS, diluted

+2.9%

+5.5%

Dividend / share

+2.6%

Returned to shareholders

−5.9%

+1.3%

3 yrs

5 yrs

10 yrs

15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

ROE

FY2025 · ROE 12.2%

10%20%

200920172025

Three returns, three denominators.

Return on equity12.2%

Return on assets2.9%

Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Gross margin·

Operating margin·

Net margin·

EBITDA·

Each USD of equity produced 12 cents of profit this year.

Cash & shareholders

USD 110.5M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 396.7

250.0M500.0M

200920172025

Net buybacks $M Dividends $M

FY2025 · Dividends 43.0 · Net buybacks 67.5

50M100MDividendsNet buybacks

200920112013201620182020202220242025

Dividends paidUSD 43.0M

Net buybacksUSD 67.5M

Share of profit25.8%

Consecutive raises·

USD 43.0M in dividends and USD 67.5M in buybacks — 26% of the year's profit went back to shareholders.

Total assetsUSD 14.1B

EquityUSD 3.7B

CashUSD 296.0M

Gross debtUSD 7.8B

Net debtUSD 7.5B

DepositsUSD 1.7B

Net debt stands at 203% of equity.

The 16-year record

16 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative—not applicable◌not available in our data

NNI, 16-year financial record
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2014	2013	2012	2011	2010	2009
Revenue $B	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	0.0	0.0	0.0	0.0	◌	◌
Operating income $B	◌	0.2	0.1	0.5	0.5	0.5	0.2	0.3	0.2	0.4	◌	◌	◌	◌	◌	◌
EBITDA $B	◌	0.4	0.2	0.7	0.6	0.6	0.4	0.5	0.4	0.5	◌	◌	◌	◌	◌	◌
Income tax $B	0.1	0.1	0.0	0.1	0.1	0.1	0.0	0.1	0.1	0.1	0.2	0.2	0.1	0.1	0.1	0.1
Net income $B	0.4	0.2	0.1	0.4	0.4	0.4	0.1	0.2	0.2	0.3	0.3	0.3	0.2	0.2	0.2	0.1
Free cash flow $B	0.4	0.6	0.4	0.6	0.4	0.2	0.2	0.1	0.2	0.2	0.3	0.4	0.3	0.3	0.2	0.3
EPS, diluted $	11.79	5.02	2.40	10.82	10.20	9.02	3.54	5.57	4.14	6.02	6.62	6.50	3.76	4.24	3.81	2.78
Dividend / sh $	◌	◌	◌	◌	◌	◌	◌	◌	◌	◌	0.40	0.40	1.40	0.37	0.70	◌
Payout %	10	22	44	9	9	9	21	12	14	8	6	6	37	9	18	3
ROE %	12.2	5.6	2.8	13.2	14.1	14.0	6.0	10.2	8.2	12.4	19.4	23.2	16.0	20.7	22.4	17.7

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

Other companies filing in the same sector

UNH · BRK-A · BRK-B · CI · ELV · CNC

Provenance

Company facts, as filed

How we verify · 0 failures in 46 reconciliationsAUDITED

Reconciled in 16 of the 16 fiscal years we could check. Five checks were skipped: cost of revenue is not tagged before 2012. Three checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures

ActivityPersonal Credit Institutions

Listed onNYSE

Incorporated inNebraska

Fiscal year endsDecember 31

Data on record since2009