NNI
Nelnet Inc
NYSE: NNI · FINANCIAL SERVICES · CREDIT SERVICES
$142.48
-1.21% today
Updated 2026-04-29
Market cap
$5.13B
P/E ratio
12.10
P/S ratio
3.07x
EPS (TTM)
$11.78
Dividend yield
0.83%
52W range
$104 – $144
Volume
0.1M
Nelnet Inc (NNI) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.75B | $2.02B | $1.43B | $960.27M | $969.85M | $892.44M | $919.76M | $1.06B | $1.11B | $1.11B | $1.19B | $1.18B | $1.68B | $1.68B | $1.37B | $1.42B | $1.82B | $1.81B | $1.85B | $2.26B |
| Revenue growth (YoY) | — | +15.6% | -29.2% | -33.0% | +1.0% | -8.0% | +3.1% | +14.7% | +5.0% | +0.3% | +7.5% | -1.3% | +42.6% | -0.2% | -18.2% | +3.3% | +28.1% | -0.1% | +1.8% | +22.6% |
| Cost of revenue | $1.26B | $1.53B | $1.05B | $413.86M | $255.56M | $249.54M | $290.07M | $249.44M | $282.74M | $312.36M | $401.68M | $479.64M | $692.91M | $738.33M | $393.43M | $163.81M | $465.11M | $853.21M | $735.14M | $293.41M |
| Gross profit | $494.54M | $493.49M | $381.00M | $546.40M | $714.29M | $642.90M | $629.69M | $805.67M | $825.10M | $798.28M | $792.10M | $698.65M | $987.40M | $939.43M | $979.20M | $1.25B | $1.35B | $961.15M | $1.11B | $1.97B |
| Gross margin | 28.2% | 24.4% | 26.6% | 56.9% | 73.6% | 72.0% | 68.5% | 76.4% | 74.5% | 71.9% | 66.4% | 59.3% | 58.8% | 56.0% | 71.3% | 88.4% | 74.4% | 53.0% | 60.2% | 87.0% |
| R&D | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.90M | $0.00 | $0.00 | $0.00 | $3.70M | $0.00 | — | — |
| SG&A | $214.68M | $236.63M | $177.72M | $155.53M | $166.01M | $177.95M | $192.83M | $196.17M | $228.08M | $247.91M | $255.92M | $301.88M | $436.18M | $463.50M | $501.83M | $507.13M | $589.73M | $608.32M | $632.18M | $652.34M |
| Operating income | $102.39M | $57.15M | $44.74M | $215.70M | $302.45M | $321.79M | $274.50M | $465.53M | $469.52M | $420.64M | $398.81M | $226.68M | $286.29M | $176.75M | $450.49M | $502.11M | $501.85M | $68.72M | $228.58M | $1.14B |
| Operating margin | 5.8% | 2.8% | 3.1% | 22.5% | 31.2% | 36.1% | 29.8% | 44.1% | 42.4% | 37.9% | 33.4% | 19.2% | 17.0% | 10.5% | 32.8% | 35.4% | 27.6% | 3.8% | 12.4% | 50.6% |
| EBITDA | $269.58M | $318.53M | $186.34M | $331.74M | $403.45M | $425.26M | $391.29M | $545.02M | $577.49M | $544.38M | $521.36M | $364.51M | $470.98M | $369.41M | $648.96M | $634.43M | $678.09M | $214.11M | $361.11M | $1.06B |
| EBITDA margin | 15.4% | 15.7% | 13.0% | 34.5% | 41.6% | 47.7% | 42.5% | 51.7% | 52.1% | 49.0% | 43.7% | 30.9% | 28.0% | 22.0% | 47.3% | 44.7% | 37.3% | 11.8% | 19.6% | 46.7% |
| EBIT | $102.39M | $57.15M | $44.74M | $215.70M | $302.45M | $321.79M | $274.50M | $465.53M | $469.52M | $420.64M | $398.81M | $226.68M | $286.29M | $176.75M | $450.49M | $502.11M | $501.85M | $68.72M | $228.58M | $1.02B |
| Interest expense | $1.24B | $1.50B | $1.03B | $384.86M | $232.86M | $228.29M | $268.57M | $230.94M | $273.24M | $302.21M | $388.18M | $465.19M | $669.91M | $699.33M | $330.07M | $176.23M | $430.14M | $845.09M | $680.54M | $496.95M |
| Income tax | $36.24M | $21.72M | $17.90M | $76.57M | $113.42M | $117.45M | $96.08M | $161.19M | $160.24M | $152.38M | $141.31M | $64.86M | $58.77M | $35.45M | $100.86M | $115.82M | $113.10M | $19.39M | $52.67M | — |
| Effective tax rate | 35.5% | 39.8% | 38.4% | 35.5% | 37.5% | 36.5% | 35.1% | 34.7% | 34.3% | 36.2% | 35.5% | 27.3% | 20.5% | 20.0% | 22.3% | 22.7% | 21.8% | 17.8% | 22.3% | 0.0% |
| Net income | $65.92M | $32.85M | $28.66M | $139.13M | $189.03M | $204.34M | $178.00M | $302.67M | $307.61M | $267.98M | $256.75M | $173.17M | $227.91M | $141.80M | $352.44M | $393.29M | $406.90M | $89.83M | $184.04M | $428.47M |
| Net income growth (YoY) | — | -50.2% | -12.8% | +385.4% | +35.9% | +8.1% | -12.9% | +70.0% | +1.6% | -12.9% | -4.2% | -32.6% | +31.6% | -37.8% | +148.5% | +11.6% | +3.5% | -77.9% | +104.9% | +132.8% |
| Profit margin | 3.8% | 1.6% | 2.0% | 14.5% | 19.5% | 22.9% | 19.4% | 28.7% | 27.8% | 24.1% | 21.5% | 14.7% | 13.6% | 8.5% | 25.7% | 27.7% | 22.4% | 5.0% | 10.0% | 18.9% |