NNI
NELNET INC
Next earnings Aug 4, 2026 · consensus $2.34 EPS, $427M rev
Last earnings +0.7% on 2026-05-07
$134.41
▲ 0.00%$134.41▲ +16.71%
over 1Y
L $115.17EODHDH $143.87
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+0.0%
1W+3.6%
1M+4.4%
3M+6.5%
YTD+4.7%
1Y+16.7%
Hold
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 8 analysts
Sell
Diversified, low-credit-risk lender/servicer at a cheap 11x, but a run-off loan book and lumpy earnings cap the case.
Net income $428M · FY2025
The read
Middling fundamentals offset by an attractive price (~233% below fair value) — worth a look on the value angle.
Nelnet is an operating holding company built around student-loan servicing, a largely federally guaranteed loan portfolio, payments/education technology, and an expanding set of other businesses (Nelnet Bank, asset management, real estate, renewables). FY2025 net income jumped 132.8% to $428M (EPS $11.79), and non-GAAP net income excluding derivative marks was $435M — a strong rebound from the depressed $89.8M (FY2023) and $184M (FY2024). At $130.34 the stock trades at just 11.1x EPS with an 11.6% ROE, growing equity (+10.0% to $3.69B) and retained earnings ($3.68B).
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $393M | $407M | $89.8M | $184M | $428M |
| Diluted EPS | $10.20 | $10.82 | $2.40 | $5.02 | $11.79 |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)0.09
Earnings yield—
FCF yield—
Quality & risk
ROIC (est.)—
Free cash flow$397M
Total debt$7.78B
Net cash-$7.48B
Piotroski F-Score4/6
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRed flag in recent filings — agreement terminated (2026-04-02). Worth a closer look.
Recent filings
all on EDGAR ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-152026-06-17open ↗4Period ending 2026-06-102026-06-11open ↗SCHEDULE 13D/AFiling2026-06-05open ↗SCHEDULE 13GFiling2026-06-05open ↗3Period ending 2026-05-142026-05-19open ↗8-KPeriod ending 2026-05-142026-05-18open ↗SCHEDULE 13G/AFiling2026-05-13open ↗
Frequently asked
- Is NELNET INC (NNI) a buy?
- NNI currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Diversified, low-credit-risk lender/servicer at a cheap 11x, but a run-off loan book and lumpy earnings cap the case.
- What is NNI's fair value?
- A Modified-Graham model based on NNI's SEC fundamentals estimates a fair value of about $448.02. It is an estimate from reported earnings, not a price target.
- Is NNI overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, NNI currently appears undervalued relative to its SEC-grounded earnings power.
- What is NELNET INC's quality score?
- NNI scores 80.76470588235294/100 (grade A-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001258602, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/21/2026, 8:58:05 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.