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Companies / Financials / Nelnet, Inc.
NNI

Nelnet, Inc.

FinancialsBanks & Brokers
Ticker NNILINCOLN, NEFiscal year ends DecemberBook value per share $105.25Diluted shares 36.0M

Nelnet, Inc. (NYSE: NNI) provides consumer lending, loan servicing, payment processing, and technology-enabled services, many of which serve education customers. Its four reportable segments are Loan Servicing and Systems, which services federally owned, federally insured, private education, and consumer loans and… From the company’s description.

Over the twelve months to Sep 30, 2026, Nelnet, Inc. reported revenue of $1.66B, down 8.2% from a year earlier, and net income of $195.95M. In fiscal 2025, it reported revenue of $1.76B, up 20.6% from fiscal 2024, and net income of $398.35M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$1.76BFY2025
+20.6% year over year
Last 12 mo $1.66B
0.00%FY2025
$398.35MFY2025
+126.4% year over year
Last 12 mo $195.95M
12.24%FY2025
+5.8 percentage points
Last 12 mo 7.18%
Cash & financing
$422.99MFY2025
−36.2% year over year
Last 12 mo $478.77M
$396.75MFY2025
−38.2% year over year
Last 12 mo $451.19M
2.56FY2025
Was 2.83× a year earlier
Last 12 mo 2.46
36.3MFY2025
−0.8% year over year
Last 12 mo 36.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Nelnet, Inc. does

In the company’s own words

Nelnet, Inc. (NYSE: NNI) provides consumer lending, loan servicing, payment processing, and technology-enabled services, many of which serve education customers. Its four reportable segments are Loan Servicing and Systems, which services federally owned, federally insured, private education, and consumer loans and provides related software and outsourced services; Education Technology Services and Payments, which supplies school management, tuition payment, and commerce solutions to K-12 schools, colleges, universities, and other organizations; Asset Generation and Management, which acquires and manages student and other loan assets; and Nelnet Bank, which offers private education and unsecured consumer loans. Major brands include Nelnet Servicing, FACTS, Nelnet Campus Commerce, and Nelnet Payment Services. The company also conducts insurance, investment management, real estate, renewable energy, and venture investment activities. Nelnet began in 1978 as a federal student loan servicer and continues to earn interest income from its legacy loan portfolio. At December 31, 2025, it serviced $486.2 billion of loans for 13.2 million borrowers and held an $8.7 billion loan portfolio in Asset Generation and Management. Its website is www.nelnet.com.

Company details
Sector
Financials
Industry (SIC)
Banks & Brokers
Headquarters
LINCOLN, NE
Fiscal year end
December
CIK
1258602
SIC
6141

Financial performance, year by year

Fiscal 2011–2025 · USD
$-175.89M$351.77M$879.43M$1.41B$1.93B201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Nelnet, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

199
funds hold it
0 of 35
superinvestors hold it
$717.67M
held by funds, at market
21.5%
of shares held by funds

Largest fund holders · Nelnet, Inc.’s weight in each

U.S. SMALL CAP VALUE PORTFOLIO
DFSVX · DFA INVESTMENT DIMENSIONS GROUP INC
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.06%of fund net assets
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
—of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.02%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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