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Diversified company servicing federal student loans, plus education technology, payments and telecom/investment businesses.
Diversified company servicing federal student loans, plus education technology, payments and telecom/investment businesses.
Is paid a monthly fee per borrower to service federal student loans under government contracts, and fees for processing tuition payments and payment plans at schools, while an older book of loans it owns earns interest and is shrinking as loans are repaid. Cash from that run-off funds investments in other businesses, including a fiber telecom operator.
Moat: narrow (scale, regulatory licence, switching costs). One of few large federal student loan servicers with contract-based relationships and integrated technology.
Headquarters: Lincoln, Nebraska, US · Founded: 1978 · Employees: 5,744
Size Nelnet (NNI) is a United States Financials company (Finance/Rental/Leasing) with a market value of $4.67B, the 1229th largest of 3,117 United States companies the cockpit tracks. Shares closed at $130.53 on 6 Nov 2026.
Performance Over six months the shares gained 6.7%, against -9.7% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue fell 6.8% over the last twelve months (peer median +8.9%); the operating margin is 42.9% (peer median 31.4%).
Valuation It trades at 1.24× book value against a peer median of 2.01× (8th cheapest of 20).
Price implies The share price implies a return on equity of about 10.1%; Nelnet delivers 8.1%, so the price asks more than the business earns today.
Short interest Short interest is 2.7% of the free float (15 Oct 2026).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.10B | $2.26B | $2.12B | $2.07B | $1.76B |
| Revenue growth | — | +7% | +3% | +17% | — |
| Gross profit | $1.86B | $2.00B | $1.81B | $1.77B | $1.52B |
| EBITDA | $1.08B | $1.26B | $1.11B | $1.04B | $1.06B |
| Net income | $297M | $421M | $180M | $87.9M | $400M |
| Free cash flow | $364M | $397M | $642M | $358M | $625M |
| Capital expenditure | $37.0M | $26.2M | $20.9M | $74.1M | $81.0M |
| Total debt | $7.04B | $7.79B | $8.32B | $11.8B | $14.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Nelnet NNI | $4.67B | +7% | -7% | 8% | 1.24× | 10.1% |
| Navient NAVI | $790M | -1% | -17% | -2% | 0.33× | 5.6% |
| SLM SLM | $3.10B | -25% | -6% | 25% | 1.55× | 13.8% |
| MAXIMUS MMS | $3.43B | +2% | -3% | 21% | 1.97× | 12.2% |
| Flywire FLYW | $2.62B | +25% | +31% | 9% | 2.91× | 27.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NNI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.6% | -2.9% | 7th highest of 21 |
| 6-month return | +6.7% | -9.7% | 3rd highest of 21 |
| Return on equity | 8.1% | 14.3% | 4th lowest of 20 |
| Price / book | 1.24× | 2.01× | 8th cheapest of 20 |
| Trailing P/E | 15.9× | 11.9× | 9th most expensive of 20 |
| ROE the price implies | 10.1% | 23.7% | 8th least demanding of 20 |
| ROE delivered | 8.1% | 14.3% | 4th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Nelnet NNI | United States | $4.67B | +7% | -7% | 8% | 1.24× | 10.1% | 8.1% |
| HDB Financial Services HDBFS.NS | India | $4.71B | -24% | +11% | 14% | 2.01× | 30.2% | 14.3% |
| Bohai Leasing 000415.SZ | China | $4.44B | +2% | -7% | 18% | 0.90× | 6.3% | 17.8% |
| Poonawalla Fincorp POONAWALLA.NS | India | $4.42B | +4% | +77% | 9% | 3.02× | 47.4% | 9.2% |
| Sundaram Finance SUNDARMFIN.NS | India | $4.95B | -11% | +14% | 14% | 2.89× | 35.3% | 14.4% |
| ACOM 8572.T | Japan | $4.38B | -12% | +7% | 9% | 0.96× | 5.6% | 9.3% |
| Blue Owl Technology Finance OTF | United States | $4.36B | -13% | +95% | 5% | 0.58× | 4.9% | 4.8% |
| Herc HRI | United States | $5.08B | +14% | +19% | 6% | 2.56× | 33.3% | 6.3% |
| Figure Technology Solutions FIGR | United States | $5.10B | -40% | +66% | 26% | 3.58× | 26.5% | 26.2% |
| Enova International ENVA | United States | $4.22B | -1% | +20% | 27% | 2.72× | 26.6% | 26.8% |
| Avis Budget CAR | United States | $4.20B | -18% | -1% | n/a | n/a | n/a | n/a |
| Mahindra & Mahindra Financial Services M&MFIN.NS | India | $4.12B | -15% | +15% | 14% | 1.41× | 23.7% | 13.8% |
| Credit Acceptance CACC | United States | $5.37B | -1% | +2% | 23% | 3.86× | 38.2% | 22.7% |
| GMO Payment Gateway 3769.T | Japan | $3.98B | +6% | +13% | 22% | 5.02× | 32.4% | 21.5% |
| Element Fleet Management EFN.TO | Canada | $5.61B | -31% | +5% | 11% | 2.06× | 9.2% | 10.6% |
| Bread Financial BFH | United States | $3.87B | +17% | +2% | 16% | 1.13× | 12.2% | 15.9% |
| Chailease 5871.TW | Taiwan | $5.74B | -10% | -4% | 12% | 0.97× | 3.8% | 11.5% |
| SBI Cards & Payment Services SBICARD.NS | India | $5.89B | -10% | +6% | 16% | 3.24× | 40.7% | 16.3% |
| Sixt SIX2.DE | Germany | $3.67B | +4% | +7% | 15% | 1.67× | 15.8% | 15.0% |
| Credit Saison 8253.T | Japan | $3.62B | -10% | +10% | 9% | 0.73× | 6.3% | 9.2% |
| Far East Horizon 3360.HK | Hong Kong | $3.44B | -25% | +1% | 8% | 0.45× | 4.5% | 7.6% |