What is the 13F Pro Quality Score for NNI?

13F Pro ranks NELNET INC (NNI) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View NNI's current score at https://13fpro.ai/company/NNI (free sign-up required for the full ranking).

Where does 13F Pro source NNI data?

All NELNET INC fundamentals and ownership data come directly from SEC EDGAR. NELNET INC files with the SEC under CIK 1258602. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is NNI in?

NELNET INC (NNI) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

What drives NNI's revenue?

Per NELNET INC's latest 10-Q filed with the SEC on 2026-08-06, the biggest revenue drivers are: Net interest income ($96.0M); Total other income (expense), net ($314.0M); Loan Servicing and Systems revenue ($132.2M). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/NNI.

How often is NNI research updated on 13F Pro?

NNI's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

NELNET INC(NNI)Stock Analysis

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13F Pro Quality Score

65.3/100

Rank #490 of 2,961 stocksTOP 25%

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

96.0/100

Profitability

99.7/100

Balance Sheet

54.2/100

Earnings Quality

57.3/100

Free Cash Flow

99.8/100

Institutional Flow

42.6/100

Revenue Scale

18.0/100

Dilution Risk

14.0/100

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Why NNI Scores 65/100

exact factor attribution · 2026-09-11

NNI's composite is driven by revenue growth and profitability, held back by scale and shareholder dilution. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+12.3 pts

96th pct

Profitability

+9.9 pts

100th pct

Free cash flow

+7.5 pts

100th pct

Earnings growth

+1.8 pts

77th pct

Earnings quality

+0.7 pts

57th pct

Capital efficiency

+0.6 pts

54th pct

Institutional flow

-0.5 pts

43th pct

Shareholder dilution

-2.4 pts

14th pct

Scale

-6.4 pts

18th pct

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

NNI Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for NELNET INC (NNI), 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 #490 of 2,961 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.

✦

Fun facts about NELNET INC

Quirks, history, and lore behind NNI — the kind of stuff that makes a stock memorable.

1
The Basics
A financial services company headquartered in Nebraska · operates in the education finance sector · listed on the NYSE.
2
The Numbers
Manages a student loan portfolio worth tens of billions of dollars, serving millions of borrowers across the United States — not exactly a glamorous business, but somebody has to do it.
3
The History
Founded in the 1990s in Lincoln, Nebraska, it grew largely by servicing and acquiring federally backed student loans as the government outsourced that headache to private operators.
4
The Secret
Beyond loan servicing, it has quietly built businesses in education technology and payment processing — it's more than a glorified collections department.
5
The Lore
It is one of the largest student loan servicers in the country and has navigated every political storm around student debt forgiveness that Washington has thrown its way.
6
The Giveaway
If you ever had a federal student loan and got a statement from a company based in Lincoln, Nebraska with a ticker that rhymes with 'money' — congratulations, you've met this one personally.

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What's Driving NNI's Business? Latest 10-Q Breakdown

✓ 25/25 datapoints verified

AI-extracted from NELNET INC's 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.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$96.0M

Net Income

Q2 2026

$66.7M

Free Cash Flow

Q2 2026

$71.6M

ROIC

Q2 2026

2.4%

D/E Ratio

Q2 2026

1.87

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+21.0% YoY

$354.5MFY 2025

FY22 $1.56BFY23 $264.7MFY24 $292.9MFY25 $354.5M

Net Income

+132.8% YoY

$428.5MFY 2025

FY22 $406.9MFY23 $89.8MFY24 $184.0MFY25 $428.5M

EPS (Diluted)

+134.9% YoY

$11.79FY 2025

FY22 $10.82FY23 $2.40FY24 $5.02FY25 $11.79

Total Assets

+2.1% YoY

$14.06BFY 2025

FY22 $19.37BFY23 $16.71BFY24 $13.78BFY25 $14.06B

Total Debt

-6.4% YoY

$7.78BFY 2025

FY22 $14.64BFY23 $11.83BFY24 $8.31BFY25 $7.78B

Op. Cash Flow

-36.2% YoY

$423.0MFY 2025

FY22 $683.1MFY23 $432.0MFY24 $662.9MFY25 $423.0M

Free Cash Flow

-38.2% YoY

$396.7MFY 2025

FY22 $623.6MFY23 $358.0MFY24 $642.0MFY25 $396.7M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$354.5M +21.0%	$292.9M +10.6%	$264.7M -83.0%	$1.56B +17.7%	$1.32B -5.4%	$1.40B
Net Income	$428.5M +132.8%	$184.0M +104.9%	$89.8M -77.9%	$406.9M +3.5%	$393.3M +11.6%	$352.4M
EPS (Diluted)	$11.79 +134.9%	$5.02 +109.2%	$2.40 -77.8%	$10.82 +6.1%	$10.20 +13.1%	$9.02
Total Assets	$14.06B +2.1%	$13.78B -17.6%	$16.71B -13.7%	$19.37B -10.6%	$21.68B -4.3%	$22.65B
Total Debt	$7.78B -6.4%	$8.31B -29.7%	$11.83B -19.2%	$14.64B -17.0%	$17.63B -8.7%	$19.32B
Operating Cash Flow	$423.0M -36.2%	$662.9M +53.4%	$432.0M -36.8%	$683.1M +42.2%	$480.3M +37.6%	$349.1M
Free Cash Flow	$396.7M -38.2%	$642.0M +79.3%	$358.0M -42.6%	$623.6M +48.0%	$421.4M +78.7%	$235.8M

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Available Research

13F Pro tracks comprehensive data for NELNET INC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of NNI

DIMENSIONAL FUND ADVISORS LP
$247.0M1,852,273 sh
MAGNOLIA GROUP, LLC
$169.3M1,269,723 sh
FARMERS & MERCHANTS INVESTMENTS INC
$157.2M1,179,351 sh
BlackRock, Inc.
$155.0M1,162,288 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$92.7M695,621 sh
VANGUARD CAPITAL MANAGEMENT LLC
$78.0M584,970 sh
AMERICAN CENTURY COMPANIES INC
$56.1M420,692 sh
GEODE CAPITAL MANAGEMENT, LLC
$52.0M389,595 sh
STATE STREET CORP
$48.7M365,440 sh
Bragg Financial Advisors, Inc
$33.1M248,493 sh

Fund	Value	Shares
DIMENSIONAL FUND ADVISORS LP	$247.0M	1,852,273
MAGNOLIA GROUP, LLC	$169.3M	1,269,723
FARMERS & MERCHANTS INVESTMENTS INC	$157.2M	1,179,351
BlackRock, Inc.	$155.0M	1,162,288
VANGUARD PORTFOLIO MANAGEMENT LLC	$92.7M	695,621
VANGUARD CAPITAL MANAGEMENT LLC	$78.0M	584,970
AMERICAN CENTURY COMPANIES INC	$56.1M	420,692
GEODE CAPITAL MANAGEMENT, LLC	$52.0M	389,595
STATE STREET CORP	$48.7M	365,440
Bragg Financial Advisors, Inc	$33.1M	248,493

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Is NNI a good stock to buy?

13F Pro's AI-powered analysis of NELNET INC (NNI) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NNI are available on the NNI stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. NNI is classified as a mid company.

Which hedge funds own NNI?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NNI. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of NELNET INC's investment landscape.