NELNET INC(NNI)Stock Analysis
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Pending next ranking run
This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
NNI Stock Analysis & AI Quality Score
AI stock analysis and institutional research for NELNET INC (NNI), a Financials sector company. NNI is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), NELNET INC reports quarterly revenue of $101.6M, net income of $71.1M, free cash flow of $61.6M. 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.
Revenue
Q1 2026
$101.6M
Net Income
Q1 2026
$71.1M
Free Cash Flow
Q1 2026
$61.6M
ROIC
Q1 2026
0.7%
D/E Ratio
Q1 2026
2.06
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+70.8% YoYNet Income
+132.8% YoYEPS (Diluted)
+134.9% YoYTotal Assets
+2.1% YoYTotal Debt
-6.4% YoYOp. Cash Flow
-36.2% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $107.5M +70.8% | $62.9M +213.6% | $20.1M +12681.5% | $157.0K | $0.00 | — |
| 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 |
AI Insight: NNI Financial Trends
Total debt has fallen $1,869M over six quarters while equity steadily expanded to $3,731M, signaling meaningful balance-sheet deleveraging.
• Total debt declined from $9,568M in Q2 2024 to $7,699M in Q1 2026, a $1,869M reduction over six quarters.
• Equity grew consistently from $3,294M in Q2 2024 to $3,731M in Q1 2026, adding $437M over the period.
• Net income was volatile, peaking at $181M in Q2 2025 before falling to $58M in Q4 2025 and $71M in Q1 2026.
⚠ Operating cash flow dropped sharply to $73M in Q1 2026, the lowest in eight quarters, from $181M in Q4 2024.
⚠ Net income has nearly halved from the Q2 2025 peak of $181M to $71M in Q1 2026 — sustainability unclear.
AI Insight: NNI Ratio Trends
Nelnet's leverage has steadily declined from 2.90x in Q2 2024 to 2.06x in Q1 2026, while profitability remains volatile quarter-to-quarter.
• D/E ratio fell from 2.90 in Q2 2024 to 2.06 in Q1 2026, a sustained six-quarter deleveraging trend.
• ROE swung sharply from 0.3% in Q3 2024 to a peak of 20.3% in Q2 2025, then retreated to 7.6% in Q1 2026.
• ROIC turned negative at -0.1% in Q3 2024 but recovered to 8.3% in Q2 2025 before cooling to 2.6% in Q1 2026.
⚠ ROIC dropped from 8.3% in Q2 2025 to 2.6% in Q1 2026 — a sharp three-quarter deceleration worth monitoring.
⚠ TTM ROE of 11.2% exceeds the most recent quarter's 7.6%, suggesting recent quarterly earnings momentum is fading.
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Available Research
13F Pro tracks comprehensive data for NELNET INC including:
Top Institutional Holders of NNI
DIMENSIONAL FUND ADVISORS LP
$238.3M1,847,699 shMAGNOLIA GROUP, LLC
$215.2M1,668,976 shFARMERS & MERCHANTS INVESTMENTS INC
$152.7M1,184,351 shBlackRock, Inc.
$126.1M978,034 shVANGUARD PORTFOLIO MANAGEMENT LLC
$87.6M679,395 shVANGUARD CAPITAL MANAGEMENT LLC
$74.5M577,940 shGEODE CAPITAL MANAGEMENT, LLC
$44.7M346,688 shAMERICAN CENTURY COMPANIES INC
$43.3M335,702 shSTATE STREET CORP
$40.6M314,978 shGENERAL AMERICAN INVESTORS CO INC
$30.2M234,026 sh
| Fund | Value | Shares |
|---|---|---|
| DIMENSIONAL FUND ADVISORS LP | $238.3M | 1,847,699 |
| MAGNOLIA GROUP, LLC | $215.2M | 1,668,976 |
| FARMERS & MERCHANTS INVESTMENTS INC | $152.7M | 1,184,351 |
| BlackRock, Inc. | $126.1M | 978,034 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $87.6M | 679,395 |
| VANGUARD CAPITAL MANAGEMENT LLC | $74.5M | 577,940 |
| GEODE CAPITAL MANAGEMENT, LLC | $44.7M | 346,688 |
| AMERICAN CENTURY COMPANIES INC | $43.3M | 335,702 |
| STATE STREET CORP | $40.6M | 314,978 |
| GENERAL AMERICAN INVESTORS CO INC | $30.2M | 234,026 |
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Popular Research
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.
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.