Nelnet (NNI)
NYSE:NNI
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Nelnet
(NYSE:NNI)
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Rating:63Neutral
Price Target:
$134.00
▼(-3.89% Downside)
Action:Reiterated
Date:05/19/26
The score is driven primarily by solid fundamentals—strong margins, improved earnings versus 2023–2024, and good cash conversion—tempered by a notable TTM revenue decline and some balance-sheet consistency uncertainty. Technicals are the biggest drag with weak momentum (below key moving averages and negative MACD). Valuation is reasonable (P/E ~16.35), while recent corporate events modestly support liquidity and governance stability.
Positive Factors
High Profitability
Sustained high margins indicate durable earnings power across Nelnet’s fee‑based servicing and tech businesses. Strong operating and net margins provide internal funding for reinvestment, support returns to shareholders, and give resilience against cyclical revenue swings.
Negative Factors
Revenue Decline
A material YoY revenue drop signals demand or volume sensitivity in servicing and education products. Persistent top‑line weakness would pressure long‑term growth assumptions, limit scalability benefits of high margins, and raise execution risk for strategic initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained high margins indicate durable earnings power across Nelnet’s fee‑based servicing and tech businesses. Strong operating and net margins provide internal funding for reinvestment, support returns to shareholders, and give resilience against cyclical revenue swings.
Read all positive factors
Nelnet (NNI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.63B
Dividend Yield0.87%
Average Volume (3M)136.52K
Price to Earnings (P/E)16.4
Beta (1Y)0.61
Revenue Growth8.64%
EPS Growth117.05%
CountryUS
Employees6,739
SectorFinancial
Sector Strength70
IndustryFinancial - Credit Services
Share Statistics
EPS (TTM)11.45
Shares Outstanding25,317,348
10 Day Avg. Volume154,225
30 Day Avg. Volume136,519
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.31
Price to Sales (P/S)2.13
P/FCF Ratio12.17
Enterprise Value/Market Cap2.64
Enterprise Value/Revenue5.72
Enterprise Value/Gross Profit7.07
Enterprise Value/Ebitda15.51
Forecast
1Y Price Target
$135.00Price Target Upside-3.17% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)9.2
Revenue Forecast (FY)$1.69B
Nelnet Business Overview & Revenue Model
Company Description
Nelnet, Inc. engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, custome...
How the Company Makes Money
Nelnet makes money through multiple business lines: (1) Loan servicing and education-related processing: it earns servicing and administration fees for managing loan accounts and performing billing, payment processing, customer support, and compli...
Nelnet Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.14B | 2.26B | 1.85B | 1.81B | 1.82B | 1.42B |
| Gross Profit | 1.73B | 1.97B | 1.11B | 961.15M | 1.35B | 1.25B |
| EBITDA | 787.38M | 1.06B | 361.11M | 214.11M | 678.09M | 634.43M |
| Net Income | 417.04M | 428.47M | 184.04M | 89.83M | 406.90M | 393.29M |
Balance Sheet | ||||||
| Total Assets | 14.18B | 14.06B | 13.78B | 16.71B | 19.37B | 21.68B |
| Cash, Cash Equivalents and Short-Term Investments | 118.66M | 973.55M | 1.18B | 1.11B | 1.51B | 1.06B |
| Total Debt | 7.70B | 7.79B | 8.31B | 11.83B | 14.64B | 17.65B |
| Total Liabilities | 10.57B | 10.49B | 10.48B | 13.51B | 16.17B | 18.73B |
| Stockholders Equity | 3.73B | 3.69B | 3.35B | 3.25B | 3.20B | 2.95B |
Cash Flow | ||||||
| Free Cash Flow | 370.52M | 396.75M | 641.99M | 358.92M | 624.64M | 421.38M |
| Operating Cash Flow | 404.93M | 422.99M | 662.89M | 432.98M | 684.06M | 480.33M |
| Investing Cash Flow | 356.83M | 509.43M | 2.41B | 1.94B | 2.27B | 1.19B |
| Financing Cash Flow | -760.57M | -890.16M | -3.17B | -2.70B | -2.79B | -1.43B |
Nelnet Technical Analysis
Negative
139.42
Price Trends
132.52
Negative
132.26
Negative
130.40
Negative
Market Momentum
-2.15
Positive
43.72
Neutral
82.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NNI, the sentiment is Negative. The current price of 139.42 is above the 20-day moving average (MA) of 133.06, above the 50-day MA of 132.52, and above the 200-day MA of 130.40, indicating a bearish trend. The MACD of -2.15 indicates Positive momentum. The RSI at 43.72 is Neutral, neither overbought nor oversold. The STOCH value of 82.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NNI.
Nelnet Risk Analysis
Nelnet disclosed 26 risk factors in its most recent earnings report. Nelnet reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nelnet Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $3.92B | 9.27 | 24.88% | ― | 17.46% | 46.61% | |
71 Outperform | $3.50B | 4.43 | 17.08% | 1.12% | -0.65% | 118.03% | |
68 Neutral | $5.70B | 8.37 | 29.39% | ― | 4.52% | 72.48% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $4.18B | 3.40 | 31.16% | 1.88% | 1.73% | 28.93% | |
63 Neutral | $4.63B | 16.35 | 11.39% | 0.87% | 8.64% | 117.05% | |
53 Neutral | $793.27M | 11.43 | -2.45% | 4.95% | -20.89% | -217.55% |
* Financial Sector Average
NNI
Nelnet
128.95
15.64
13.80%
BFH
Bread Financial Holdings
86.60
36.53
72.96%
CACC
Credit Acceptance
544.80
67.99
14.26%
SLM
SLM
22.15
-10.79
-32.76%
NAVI
Navient
8.44
-4.10
-32.67%
ENVA
Enova International
157.51
66.82
73.68%
Nelnet Corporate Events
Executive/Board ChangesShareholder Meetings
Nelnet Shareholders Reaffirm Board, Auditor, and Pay Policies
Positive
May 18, 2026
Nelnet, Inc. held its 2026 annual meeting of shareholders on May 14, 2026, where investors re-elected three Class III directors—Kathleen A. Farrell, David S. Graff, and Thomas E. Henning—to serve until the 2029 annual meeting, signalin...
Financial DisclosuresRegulatory Filings and Compliance
Nelnet Bank Files First-Quarter 2026 FDIC Call Report
Neutral
Apr 30, 2026
On April 29, 2026, Nelnet Bank filed its quarterly Consolidated Reports of Condition and Income, known as the Call Report, for the period ended March 31, 2026, with the Federal Deposit Insurance Corporation. The filing, available in part on the FD...
Business Operations and StrategyPrivate Placements and Financing
Nelnet Establishes New Long-Term Unsecured Credit Facility
Positive
Apr 2, 2026
On March 31, 2026, Nelnet, Inc. entered into a new $435 million unsecured revolving credit facility with a syndicate of banks led by U.S. Bank National Association, with an initial outstanding balance of zero and full availability for future borro...
Executive/Board Changes
Nelnet Announces Resignation of Board Member Adam Peterson
Neutral
Mar 23, 2026
Nelnet, Inc. announced that on March 23, 2026, Board member Adam Peterson resigned from the company’s Board of Directors effective immediately, citing business and personal reasons. The company emphasized that his departure did not stem from...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.