Overview Dividends

(NNI) Nelnet - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US64031N1081

Loan Servicing, Education Technology, Payment Processing, Student Loans, Banking

Consumer Finance
Market Cap in USD: 4,899m

IPO / Inception: 2003-12-11
Return 12m vs S&P 500: 12.2%

EPS (Earnings per Share)

EPS CAGR: 4.51%
EPS Trend: -4.4%

Last SUE: 1.11
Qual. Beats: 3

Revenue

Rev. CAGR: 4.38%
Rev. Trend: 40.0%

Last SUE: 0.49
Qual. Beats: 0

Dividends

Dividend Yield	0.86%
Yield on Cost 5y	1.83%
Yield CAGR 5y	8.11%
Payout Consistency	86.5%
Payout Ratio	10.1%

Risk via 5d forecast
Volatility	21.9%
Value at Risk 5%th	32.7%
Relative Tail Risk	-9.08%

Reward TTM
Sharpe Ratio	1.18
Alpha	19.45
CAGR/Max DD	0.92

Character TTM
Hurst Exponent	0.483
Beta	0.685
Beta Downside	0.719

Drawdowns 3y
Max DD	18.52%
Mean DD	6.67%
Median DD	5.60%

Description: NNI Nelnet November 07, 2025

Nelnet, Inc. (NYSE: NNI) operates four distinct segments: (1) Loan Servicing and Systems, delivering end-to-end student loan processing, software, and contact-center outsourcing; (2) Education Technology Services and Payments, offering school-management platforms, tuition-payment plans, and campus-payment processing; (3) Asset Generation and Management, which acquires and holds loan assets; and (4) Nelnet Bank, an internet-industrial bank that also provides investment advisory, real-estate, and solar-EPC services. The company’s diversified model ties together traditional consumer-finance servicing with growing education-tech and renewable-energy businesses.

Key performance indicators from the most recent FY 2023 filing show: total revenue of approximately $2.2 billion (up ~4% YoY), a loan-servicing portfolio of roughly $120 billion, and an operating margin of 9.5%. The Education Technology segment contributed about $420 million in revenue, reflecting a 12% annual growth rate driven by expanding K-12 digital-learning adoption. Nelnet’s net interest income margin remained near 3.2%, consistent with broader consumer-finance benchmarks.

Sector drivers that materially affect Nelnet’s outlook include: (i) the federal policy environment around student-loan forgiveness and interest-rate subsidies, which can shift servicing volumes; (ii) higher-education enrollment trends-currently stabilizing after a pandemic-induced dip-supporting demand for tuition-payment and LMS solutions; and (iii) the low-interest-rate backdrop that sustains loan-asset yields but also pressures net interest margins across the consumer-finance industry.

For a deeper quantitative dive, you might explore the company’s metrics on ValueRay, where the platform aggregates recent earnings estimates and peer benchmarks.

Piotroski VR‑10 (Strict, 0-10) 4.5

Net Income (433.9m TTM) > 0 and > 6% of Revenue (6% = 120.5m TTM)

FCFTA 0.03 (>2.0%) and ΔFCFTA -0.22pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -54.94% (prev -46.66%; Δ -8.28pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.03 (>3.0%) and CFO 465.9m > Net Income 433.9m (YES >=105%, WARN >=100%)

Net Debt (7.61b) to EBITDA (653.2m) ratio: 11.65 <= 3.0 (WARN <= 3.5)

Current Ratio 0.58 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (36.3m) change vs 12m ago -0.31% (target <= -2.0% for YES)

Gross Margin 71.53% (prev 57.07%; Δ 14.46pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 14.36% (prev 13.03%; Δ 1.33pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 1.07 (EBITDA TTM 653.2m / Interest Expense TTM 519.8m) >= 6 (WARN >= 3)

Altman Z'' 0.98

(A) -0.08 = (Total Current Assets 1.55b - Total Current Liabilities 2.66b) / Total Assets 13.88b

(B) 0.26 = Retained Earnings (Balance) 3.65b / Total Assets 13.88b

(D) 0.35 = Book Value of Equity 3.65b / Total Liabilities 10.29b

Total Rating: 0.98 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 58.43

1. Piotroski 4.50pt

2. FCF Yield 3.71%

3. FCF Margin 23.14%

4. Debt/Equity 2.14

5. Debt/Ebitda 11.65

6. ROIC - WACC (= -0.46)%

7. RoE 12.40%

8. Rev. Trend 39.96%

9. EPS Trend -4.44%

What is the price of NNI shares?

As of December 21, 2025, the stock is trading at USD 138.59 with a total of 475,201 shares traded.
Over the past week, the price has changed by +4.21%, over one month by +10.13%, over three months by +9.33% and over the past year by +31.90%.

Is NNI a buy, sell or hold?

Nelnet has received a consensus analysts rating of 3.00. Therefor, it is recommend to hold NNI.

Strong Buy: 0
Buy: 0
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the NNI price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	135	-2.6%
Analysts Target Price	135	-2.6%
ValueRay Target Price	165.1	19.1%

NNI Fundamental Data Overview December 18, 2025

Market Cap USD = 4.90b (4.90b USD * 1.0 USD.USD)
P/E Trailing = 11.372
P/E Forward = 15.5763
P/S = 2.8738
P/B = 1.3174
P/EG = -1.93
Beta = 0.833
Revenue TTM = 2.01b USD
EBIT TTM = 558.4m USD
EBITDA TTM = 653.2m USD
Long Term Debt = 6.66b USD (from longTermDebt, last quarter)
Short Term Debt = 1.16b USD (from shortTermDebt, last quarter)
Debt = 7.82b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 7.61b USD (from netDebt column, last quarter)
Enterprise Value = 12.51b USD (4.90b + Debt 7.82b - CCE 216.4m)
Interest Coverage Ratio = 1.07 (Ebit TTM 558.4m / Interest Expense TTM 519.8m)
FCF Yield = 3.71% (FCF TTM 464.5m / Enterprise Value 12.51b)
FCF Margin = 23.14% (FCF TTM 464.5m / Revenue TTM 2.01b)
Net Margin = 21.61% (Net Income TTM 433.9m / Revenue TTM 2.01b)
Gross Margin = 71.53% ((Revenue TTM 2.01b - Cost of Revenue TTM 571.6m) / Revenue TTM)
Gross Margin QoQ = 76.32% (prev 75.39%)
Tobins Q-Ratio = 0.90 (Enterprise Value 12.51b / Total Assets 13.88b)
Interest Expense / Debt = 1.54% (Interest Expense 120.7m / Debt 7.82b)
Taxrate = 26.22% (35.8m / 136.4m)
NOPAT = 412.0m (EBIT 558.4m * (1 - 26.22%))
Current Ratio = 0.58 (Total Current Assets 1.55b / Total Current Liabilities 2.66b)
Debt / Equity = 2.14 (Debt 7.82b / totalStockholderEquity, last quarter 3.65b)
Debt / EBITDA = 11.65 (Net Debt 7.61b / EBITDA 653.2m)
Debt / FCF = 16.37 (Net Debt 7.61b / FCF TTM 464.5m)
Total Stockholder Equity = 3.50b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.13% (Net Income 433.9m / Total Assets 13.88b)
RoE = 12.40% (Net Income TTM 433.9m / Total Stockholder Equity 3.50b)
RoCE = 5.50% (EBIT 558.4m / Capital Employed (Equity 3.50b + L.T.Debt 6.66b))
RoIC = 3.53% (NOPAT 412.0m / Invested Capital 11.67b)
WACC = 3.99% (E(4.90b)/V(12.72b) * Re(8.54%) + D(7.82b)/V(12.72b) * Rd(1.54%) * (1-Tc(0.26)))
Discount Rate = 8.54% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.40%
[DCF Debug] Terminal Value 76.21% ; FCFE base≈479.5m ; Y1≈470.8m ; Y5≈481.4m
Fair Price DCF = 308.0 (DCF Value 7.80b / Shares Outstanding 25.3m; 5y FCF grow -2.76% → 3.0% )
EPS Correlation: -4.44 | EPS CAGR: 4.51% | SUE: 1.11 | # QB: 3
Revenue Correlation: 39.96 | Revenue CAGR: 4.38% | SUE: 0.49 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.57 | Chg30d=+0.030 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=8.80 | Chg30d=+0.060 | Revisions Net=+1 | Growth EPS=+34.8% | Growth Revenue=+6.3%

Additional Sources for NNI Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle