NELNET INC(NNI)— Stock Profile, AI Score & Financials
Financials · NYSE · AI-powered stock analysis, 32-signal quality score, SEC EDGAR financials, and institutional holdings. Updated .
NELNET INC (NNI) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores NNI at 65.3/100 on a 32-signal composite quality model, placing it at rank #491 of 2,960 stocks — the top 25% of the AI-ranked universe. NNI scores in the top quartile across free cash flow (99.8), profitability (99.7), revenue growth (96.0). Areas of concern include revenue scale (18.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 14.0/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), NELNET INC reports quarterly revenue of $96.0M, net income of $66.7M, free cash flow of $71.6M. Top institutional holders of NNI by reported 13-F value include DIMENSIONAL FUND ADVISORS, MAGNOLIA GROUP, FARMERS & MERCHANTS INVESTMENTS, based on the most recent SEC filings. NNI trades on the NYSE exchange and files with the SEC under CIK 1258602. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NNI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NELNET INC directly from SEC EDGAR.
AI Quality Score
65.3/100
AI Rank
#491
Revenue
$96.0M
Net Income
$66.7M
Free Cash Flow
$71.6M
NNI key financials by period
NELNET INC reported revenue, net income and margins by fiscal period, from SEC filings.
Period
Form
Revenue
Net income
Operating margin
FY 2025
10-K
$354.5M
$428.5M
157.0%
FY 2024
10-K
$292.9M
$184.0M
78.0%
FY 2023
10-K
$264.7M
$89.8M
26.0%
FY 2022
10-K
$1.6B
$406.9M
32.2%
FY 2021
10-K
$1.3B
$393.3M
37.9%
FY 2020
10-K
$1.4B
$352.4M
32.2%
Institutions holding NNI
Institutional investors reporting a position in NELNET INC on SEC Form 13F.
AI-extracted from the 10-Q filed 2026-08-06 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income attributable to Nelnet fell 63% YoY to $66.7M, mainly because Q2 2025 included a one-time $175.0M ALLO investment gain, even as core net interest income rose 21% to $96.0M.
Biggest Revenue Drivers
Net interest income$96.0M
Interest expense fell on a lower average debt balance and lower cost of funds, partially offset by higher interest expense on larger Nelnet Bank deposit balances.
Total other income (expense), net$314.0M
Includes LSS, ETSP, and reinsurance revenue; prior-year period included a $175.0M gain on partial redemption of the ALLO investment not repeated in 2026.
Biggest Revenue Drivers
Net interest income$96.0M
Interest expense fell on a lower average debt balance and lower cost of funds, partially offset by higher interest expense on larger Nelnet Bank deposit balances.
Total other income (expense), net$314.0M
Includes LSS, ETSP, and reinsurance revenue; prior-year period included a $175.0M gain on partial redemption of the ALLO investment not repeated in 2026.
Within Total other income (expense), net
Loan Servicing and Systems revenue$132.2M
Growth from the newly acquired NDS Canada business was partially offset by declining Department of Education servicing revenue as borrower volume fell.
Education Technology Services and Payments revenue$118.9M
Higher tuition payment plan and payment processing volumes were partially offset by lower education technology services revenue from reduced professional development activity.
Reinsurance premiums earned$40.6M
Increase was primarily due to timing of premium recognition under certain reinsurance treaties.
Largest Expense Items
Salaries and benefits$152.7M
Increase primarily due to the NDS Canada acquisition and higher ETSP headcount to support customer growth and new technology development.
Interest expense on bonds/notes payable and bank deposits$108.9M
Decrease due to lower average debt outstanding and lower cost of funds, partly offset by higher interest expense on larger Nelnet Bank deposits.
Other expenses$64.2M
Increase primarily due to higher legal and transition service costs from closing and integrating the NDS Canada acquisition, plus IT costs for new technology.
Provision for loan losses$41.1M
Increase driven by the initial allowance on loans originated/acquired during the period, including a significant rise in Pay Later receivables acquired since Q3 2025.
Margins: LSS before-tax margin fell to 11.0% from 16.0% on declining Department servicing revenue; ETSP margin fell to 24.3% from 30.0% on higher growth investment; AGM's loan spread widened to 2.33% from 1.24% on a richer consumer-loan mix.
Watch Items from the Filing
Department of Education servicing revenue was $74.6M in Q2 2026, down from $85.7M, as borrower volume continues to decline and shift to other servicers.
Provision for loan losses more than doubled to $41.1M from $17.9M, and consumer loan allowance rose to 7.60% of balance from 5.11%, driven by Pay Later receivables growth.
Solar tax equity HLBV losses were $22.5M in Q2 2026 versus $1.5M a year earlier, with legislation accelerating the phase-out of solar tax credits cited as a risk.
Nelnet Bank swung to $13.8M income before taxes from a $(0.5)M loss after AGM contributed $716.3M of federally insured loans, funded with deposits.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
