(NNI) Nelnet - Overview
Stock: Loan Servicing, Edtech Software, Tuition Plans, Payment Processing, Loan Assets
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 0.96% |
| Yield on Cost 5y | 1.71% |
| Yield CAGR 5y | 7.23% |
| Payout Consistency | 87.1% |
| Payout Ratio | 12.0% |
| Risk 5d forecast | |
|---|---|
| Volatility | 22.4% |
| Relative Tail Risk | -8.54% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.65 |
| Alpha | 6.50 |
| Character TTM | |
|---|---|
| Beta | 0.673 |
| Beta Downside | 0.693 |
| Drawdowns 3y | |
|---|---|
| Max DD | 18.52% |
| CAGR/Max DD | 0.70 |
Description: NNI Nelnet January 10, 2026
Nelnet, Inc. (NYSE: NNI) operates four distinct segments: Loan Servicing and Systems, Education Technology Services and Payments, Asset Generation and Management, and Nelnet Bank. The Loan Servicing segment handles the full lifecycle of student loans-including conversion, processing, borrower communications, and claim handling-while also providing loan-servicing software and contact-center outsourcing. The Education Technology segment delivers school-information systems, tuition-payment plans, and a suite of K-12 management tools that span billing, refunds, and learning-management services. Asset Generation and Management owns and manages a portfolio of loan assets, and Nelnet Bank functions as an internet-industrial bank offering advisory, investment, real-estate, and solar-energy services.
Key metrics underscore the company’s scale and market exposure: FY 2023 revenue reached approximately $2.3 billion, with the Loan Servicing segment contributing roughly $1.5 billion in fees, and the education-technology arm growing at a 12% CAGR over the past three years. The loan-servicing portfolio sits near $30 billion in outstanding balances, making NNI sensitive to federal student-loan policy shifts and interest-rate movements that affect net interest margins. Additionally, the tuition-payment-plan business benefits from rising enrollment in hybrid and online education, a sector trend that has accelerated post-COVID-19.
For a deeper quantitative assessment, the ValueRay platform provides granular metrics that can help you test these assumptions.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: 433.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -0.22 > 1.0 |
| NWC/Revenue: -54.94% < 20% (prev -46.66%; Δ -8.28% < -1%) |
| CFO/TA 0.03 > 3% & CFO 465.9m > Net Income 433.9m |
| Net Debt (7.61b) to EBITDA (653.2m): 11.65 < 3 |
| Current Ratio: 0.58 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.3m) vs 12m ago -0.31% < -2% |
| Gross Margin: 71.53% > 18% (prev 0.57%; Δ 7096 % > 0.5%) |
| Asset Turnover: 14.36% > 50% (prev 13.03%; Δ 1.33% > 0%) |
| Interest Coverage Ratio: 1.07 > 6 (EBITDA TTM 653.2m / Interest Expense TTM 519.8m) |
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 3.65b / Total Assets 13.88b) |
| C: 0.04 (EBIT TTM 558.4m / Avg Total Assets 13.98b) |
| D: 0.35 (Book Value of Equity 3.65b / Total Liabilities 10.29b) |
| Altman-Z'' Score: 0.98 = BB |
Beneish M -3.23
| DSRI: 0.91 (Receivables 181.2m/181.4m, Revenue 2.01b/1.84b) |
| GMI: 0.80 (GM 71.53% / 57.07%) |
| AQI: 0.98 (AQ_t 0.88 / AQ_t-1 0.90) |
| SGI: 1.09 (Revenue 2.01b / 1.84b) |
| TATA: -0.00 (NI 433.9m - CFO 465.9m) / TA 13.88b) |
| Beneish M-Score: -3.23 (Cap -4..+1) = AA |
What is the price of NNI shares?
Over the past week, the price has changed by +0.17%, over one month by -0.54%, over three months by +2.05% and over the past year by +18.63%.
Is NNI a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the NNI price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 140 | 6% |
| Analysts Target Price | 140 | 6% |
| ValueRay Target Price | 150.4 | 13.9% |
NNI Fundamental Data Overview February 03, 2026
P/E Forward = 15.748
P/S = 2.7987
P/B = 1.2863
P/EG = -1.93
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 = 12.38b USD (4.77b + Debt 7.82b - CCE 216.4m)
Interest Coverage Ratio = 1.07 (Ebit TTM 558.4m / Interest Expense TTM 519.8m)
EV/FCF = 26.64x (Enterprise Value 12.38b / FCF TTM 464.5m)
FCF Yield = 3.75% (FCF TTM 464.5m / Enterprise Value 12.38b)
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 = 0.89 (Enterprise Value 12.38b / 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 = 3.10% (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 = 3.89% (E(4.77b)/V(12.59b) * Re(8.40%) + D(7.82b)/V(12.59b) * Rd(1.54%) * (1-Tc(0.26)))
Discount Rate = 8.40% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.40%
[DCF Debug] Terminal Value 86.15% ; FCFF base≈479.5m ; Y1≈470.7m ; Y5≈480.3m
Fair Price DCF = 266.6 (EV 14.36b - Net Debt 7.61b = Equity 6.75b / Shares 25.3m; r=5.90% [WACC]; 5y FCF grow -2.76% → 2.90% )
EPS Correlation: -15.87 | EPS CAGR: -59.37% | SUE: -0.90 | # QB: 0
Revenue Correlation: 39.96 | Revenue CAGR: 4.38% | SUE: 0.49 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.57 | Chg30d=N/A | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=8.81 | Chg30d=N/A | Revisions Net=+1 | Growth EPS=+27.0% | Growth Revenue=+6.3%