Nelnet Inc - Understand $nni stock

$NNI Market Cap: $3.96 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$1.266B

TTM

Gross Margin

68.64%

TTM

Net Earnings

$112.3M

TTM

Current Assets

$373.3M

Q3 2024

Current Liabilities

$1.501B

Q3 2024

Current Ratio

24.88%

Q3 2024

Total Assets

$14.08B

Q3 2024

Total Liabilities

$10.87B

Q3 2024

Book Value

$3.210B

Q3 2024

Cash

$219.7M

Q3 2024

P/E

35.26

Nov 29, 2024 EST

Free Cash Flow

$502.4M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000
Revenue	$1.110B	$742.8M	$523.8M	$619.7M	$948.7M	$924.3M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$603.9M	$620.2M	$1.490B	$2.065B	$1.663B	$963.2M	$799.0M	$479.9M	$530.4M	$431.4M	$365.0M
YoY Change	49.41%	41.8%	-15.46%	-34.68%	2.64%								-100.0%	-2.62%	-58.38%	-27.86%	24.22%	72.62%	20.55%	66.49%	-9.52%	22.95%	18.19%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000
Revenue	$1.110B	$742.8M	$523.8M	$619.7M	$948.7M	$924.3M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$603.9M	$620.2M	$1.490B	$2.065B	$1.663B	$963.2M	$799.0M	$479.9M	$530.4M	$431.4M	$365.0M
Cost Of Revenue	$219.8M	$168.4M	$108.7M	$105.0M	$102.0M	$76.49M	$58.63M	$51.18M	$41.73M	$49.99M	$64.96M	$78.38M	$228.3M	$232.9M	$384.9M	$1.027B	$1.503B	$1.241B	$620.1M	$254.6M	$200.3M	$235.0M	$220.7M	$234.1M
Gross Profit	$890.0M	$574.4M	$415.2M	$514.6M	$846.7M	$847.8M	-$58.63M	-$51.18M	-$41.73M	-$49.99M	-$64.96M	-$78.38M	$754.7M	$797.3M	$623.9M	$463.5M	$562.7M	$421.6M	$343.1M	$544.4M	$279.7M	$295.4M	$210.7M	$130.9M
Gross Profit Margin	80.2%	77.33%	79.26%	83.05%	89.25%	91.72%								132.02%	100.6%	31.11%	27.24%	25.36%	35.62%	68.14%	58.28%	55.69%	48.84%	35.86%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000
Selling, General & Admin	$599.0M	$596.4M	$519.0M	$515.7M	$476.3M	$436.2M	$301.9M	$255.9M	$293.4M	$281.4M	$261.1M	$271.2M	$264.5M	$257.7M	$226.2M	$322.5M	$390.3M	$334.0M	$214.6M	$194.8M	$185.1M	$179.6M	$148.2M	$93.50M
YoY Change	0.44%	14.91%	0.64%	8.27%	9.19%	44.48%	17.98%	-12.78%	4.26%	7.77%	-3.72%	2.53%	2.64%	13.93%	-29.86%	-17.37%	16.86%	55.64%	10.16%	5.24%	3.06%	21.19%	58.5%
% of Gross Profit	67.3%	103.83%	125.01%	100.21%	56.26%	51.45%							35.05%	32.32%	36.26%	69.58%	69.36%	79.22%	62.55%	35.78%	66.18%	60.8%	70.34%	71.43%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$145.4M	$176.2M	$132.3M	$198.5M	$192.7M	$184.7M	$137.8M	$122.5M	$123.7M	$108.0M	$79.48M	$116.8M	$103.5M	$101.0M	$116.0M	$141.6M	$261.4M	$167.2M	$105.1M	$96.70M	$101.4M	$93.90M	$45.30M	$23.50M
YoY Change	-17.51%	33.19%	-33.33%	3.02%	4.32%	34.0%	12.47%	-0.96%	14.6%	35.84%	-31.94%	12.86%	2.45%	-12.93%	-18.08%	-45.83%	56.34%	59.09%	8.69%	-4.64%	7.99%	107.28%	92.77%
% of Gross Profit	16.34%	30.68%	31.87%	38.57%	22.76%	21.78%							13.71%	12.67%	18.59%	30.55%	46.45%	39.66%	30.63%	17.76%	36.25%	31.79%	21.5%	17.95%
Operating Expenses	$860.5M	$834.4M	$726.3M	$781.1M	$762.8M	$689.4M	$484.5M	$433.3M	$469.2M	$452.5M	$429.0M	$433.6M	$407.7M	$503.5M	$405.6M	-$629.2M	-$1.034B	-$830.7M	$210.5M	$207.2M	$217.7M	$208.3M	$183.6M	$115.1M
YoY Change	3.12%	14.88%	-7.01%	2.4%	10.65%	42.28%	11.83%	-7.66%	3.69%	5.48%	-1.06%	6.35%	-19.03%	24.12%	-164.47%	-39.13%	24.43%	-494.63%	1.59%	-4.82%	4.51%	13.45%	59.51%
Operating Profit	$29.54M	-$260.0M	-$311.2M	-$266.5M	$83.83M	$158.4M	-$543.2M	-$484.5M	-$511.0M	-$502.5M	-$493.9M	-$511.9M	$347.0M	$293.8M	$218.3M	$1.093B	$1.596B	$1.252B	$132.6M	$337.2M	$62.00M	$87.10M	$27.10M	$15.80M
YoY Change	-111.36%	-16.44%	16.78%	-417.88%	-47.08%	-129.16%	12.12%	-5.18%	1.68%	1.73%	-3.52%	-247.51%	18.12%	34.61%	-80.02%	-31.55%	27.47%	844.42%	-60.68%	443.87%	-28.82%	221.4%	71.52%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Interest Expense	$845.1M	$430.1M	$176.2M	$330.1M	$699.3M	$669.9M	$465.2M	$388.2M	$302.2M	$273.2M	$230.9M	$268.6M	$228.3M	$232.9M	$384.9M
YoY Change	96.47%	144.07%	-46.61%	-52.8%	4.39%	44.01%	19.84%	28.45%	10.6%	18.32%	-14.01%	17.64%	-1.96%	-39.5%
% of Operating Profit	2861.32%				834.25%	422.95%							65.78%	79.25%	176.33%
Other Income/Expense, Net	$189.9M	$170.8M	$145.5M	$160.6M	$194.3M	$166.3M	$143.1M	$117.7M	$123.0M	$126.3M	$125.7M	$128.7M	$113.4M	$119.8M	$100.2M	-$1.005B	-$1.473B	-$1.114B	$158.4M	-$92.10M	-$5.600M	-$1.200M	-$5.900M
YoY Change	11.17%	17.4%	-9.41%	-17.35%	16.81%	16.21%	21.61%	-4.34%	-2.6%	0.51%	-2.39%	13.51%	-5.3%	19.51%	-109.98%	-31.79%	32.19%	-803.35%	-271.99%	1544.64%	366.67%	-79.66%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000
Pretax Income	$74.19M	$509.5M	$502.1M	$450.5M	$176.7M	$286.3M	$226.7M	$398.8M	$420.6M	$469.5M	$465.5M	$274.5M	$321.8M	$302.5M	$215.7M	$62.10M	$74.20M	$116.7M	$291.1M	$245.0M	$56.40M	$85.90M	$21.10M	$15.70M
YoY Change	-85.44%	1.47%	11.46%	154.88%	-38.26%	26.3%	-43.16%	-5.19%	-10.41%	0.86%	69.59%	-14.69%	6.39%	40.22%	247.34%	-16.31%	-36.42%	-59.91%	18.82%	334.4%	-34.34%	307.11%	34.39%
Income Tax	$19.75M	$113.2M	$115.8M	$100.9M	$35.45M	$58.77M	$64.86M	$141.3M	$152.4M	$160.2M	$161.2M	$96.08M	$117.5M	$113.4M	$76.57M	$17.90M	$21.70M	$36.20M	$100.6M	$85.20M	$19.30M	$27.70M	$0.00	$0.00
% Of Pretax Income	26.63%	22.22%	23.07%	22.39%	20.06%	20.53%	28.61%	35.43%	36.23%	34.13%	34.63%	35.0%	36.5%	37.5%	35.5%	28.82%	29.25%	31.02%	34.56%	34.78%	34.22%	32.25%	0.0%	0.0%
Net Earnings	$91.53M	$407.3M	$393.3M	$352.4M	$141.8M	$227.9M	$173.2M	$256.8M	$268.0M	$307.6M	$302.7M	$178.0M	$204.3M	$189.0M	$139.1M	$46.10M	$49.90M	$82.50M	$192.9M	$159.8M	$37.20M	$58.60M	$20.50M	$15.70M
YoY Change	-77.53%	3.58%	11.59%	148.54%	-37.78%	31.62%	-32.55%	-4.19%	-12.88%	1.63%	70.04%	-12.89%	8.09%	35.87%	201.79%	-7.62%	-39.52%	-57.23%	20.71%	329.57%	-36.52%	185.85%	30.57%
Net Earnings / Revenue	8.25%	54.84%	75.08%	56.88%	14.95%	24.66%								31.3%	22.43%	3.09%	2.42%	4.96%	20.03%	20.0%	7.75%	11.05%	4.75%	4.3%
Basic Earnings Per Share	$2.45	$10.83	$10.20	$9.02	$3.54							$3.76	$4.24	$3.82	$2.79
Diluted Earnings Per Share	$2.45	$10.83	$10.20	$9.02	$3.54	$5.641M	$4.144M	$6.014M	$5.890M	$6.615M	$6.496M	$3.74	$4.23	$3.81	$2.78	$935.1K	$1.004M	$1.539M	$3.586M	$2.981M	$817.6K	$1.302M	$455.6K	$382.0K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Cash & Short-Term Investments	$168.1M	$118.1M	$125.6M	$121.0M	$134.0M	$121.0M	$67.00M	$70.00M	$64.00M	$130.0M	$63.00M	$66.00M	$43.00M	$284.0M	$338.0M	$190.0M	$112.0M	$102.0M	$104.0M	$40.00M	$198.0M	$40.00M	$36.00M
YoY Change	42.29%	-5.91%	3.77%	-9.7%	10.74%	80.6%	-4.29%	9.38%	-50.77%	106.35%	-4.55%	53.49%	-84.86%	-15.98%	77.89%	69.64%	9.8%	-1.92%	160.0%	-79.8%	395.0%	11.11%
Cash & Equivalents	$168.1M	$118.1M	$125.6M	$121.0M	$134.0M	$121.0M	$67.00M	$70.00M	$64.00M	$130.0M	$63.00M	$66.00M	$43.00M	$284.0M	$338.0M	$190.0M	$112.0M	$102.0M	$104.0M	$40.00M	$198.0M	$40.00M	$36.00M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables	$196.2M	$194.9M	$163.3M	$76.00M	$115.0M	$60.00M	$54.00M	$44.00M	$51.00M	$28.06B	$25.96B	$24.89B	$24.36B	$24.09B	$23.97B	$25.46B	$26.79B	$23.84B	$20.30B	$13.49B	$10.47B	$8.574B	$7.438B
Other Receivables	$0.00	$0.00	$0.00	$0.00	$734.0M	$679.0M	$431.0M	$391.0M	$384.0M	$0.00	$0.00	$308.0M	$308.0M	$318.0M	$329.0M	$472.0M	$594.0M	$503.0M	$395.0M	$251.0M	$196.0M	$177.0M	$181.0M
Total Short-Term Assets	$364.3M	$313.0M	$288.9M	$197.0M	$983.0M	$860.0M	$552.0M	$505.0M	$499.0M	$28.19B	$26.03B	$25.27B	$24.71B	$24.69B	$24.64B	$26.12B	$27.49B	$24.44B	$20.80B	$13.78B	$10.87B	$8.791B	$7.655B
YoY Change	16.39%	8.35%	46.64%	-79.96%	14.3%	55.8%	9.31%	1.2%	-98.23%	8.3%	3.0%	2.25%	0.1%	0.21%	-5.67%	-5.0%	12.47%	17.54%	50.91%	26.81%	23.62%	14.84%
Property, Plant & Equipment	$140.6M	$137.4M	$133.7M	$142.0M	$381.0M	$345.0M	$248.0M	$124.0M	$80.00M	$46.00M	$34.00M	$32.00M	$35.00M	$31.00M	$27.00M	$39.00M	$56.00M	$62.00M	$37.00M	$30.00M	$19.00M	$13.00M	$9.000M
YoY Change	2.33%	2.73%	-5.83%	-62.73%	10.43%	39.11%	100.0%	55.0%	73.91%	35.29%	6.25%	-8.57%	12.9%	14.81%	-30.77%	-30.36%	-9.68%	67.57%	23.33%	57.89%	46.15%	44.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$1.871B	$2.112B	$1.589B	$993.0M	$247.0M	$249.0M	$241.0M	$254.0M	$304.0M	$236.0M	$192.0M	$83.00M	$51.00M	$43.00M
YoY Change	-11.41%	32.92%	60.01%	302.02%	-0.8%	3.32%	-5.12%	-16.45%	28.81%	22.92%	131.33%	62.75%	18.6%
Other Assets	$875.3M	$1.239B	$1.069B	$837.0M	$1.089B	$1.071B	$875.0M	$1.101B	$977.0M	$969.0M	$903.0M	$912.0M	$724.0M	$757.0M	$717.0M	$1.158B	$1.009B	$1.699B	$1.542B	$1.263B	$957.0M	$876.0M	$401.0M
YoY Change	-29.38%	15.99%	27.67%	-23.14%	1.68%	22.4%	-20.53%	12.69%	0.83%	7.31%	-0.99%	25.97%	-4.36%	5.58%	-38.08%	14.77%	-40.61%	10.18%	22.09%	31.97%	9.25%	118.45%
Total Long-Term Assets	$16.37B	$19.06B	$21.39B	$22.45B	$22.73B	$24.36B	$23.41B	$26.69B	$29.92B	$1.912B	$1.744B	$1.340B	$1.139B	$1.206B	$1.240B	$1.738B	$1.672B	$2.353B	$2.003B	$1.380B	$1.065B	$976.0M	$480.0M
YoY Change	-14.11%	-10.88%	-4.72%	-1.22%	-6.71%	4.05%	-12.28%	-10.8%	1464.85%	9.63%	30.15%	17.65%	-5.56%	-2.74%	-28.65%	3.95%	-28.94%	17.47%	45.14%	29.58%	9.12%	103.33%
Total Assets	$16.74B	$19.37B	$21.68B	$22.65B	$23.71B	$25.22B	$23.96B	$27.19B	$30.42B	$30.10B	$27.77B	$26.61B	$25.85B	$25.89B	$25.88B	$27.86B	$29.16B	$26.80B	$22.80B	$15.16B	$11.93B	$9.767B	$8.135B
YoY Change
Accounts Payable	$425.5M	$348.3M	$366.0M	$301.0M	$438.0M	$370.0M	$187.0M	$120.0M	$145.0M	$118.0M	$168.0M	$97.00M	$110.0M	$89.00M	$92.00M	$161.0M	$82.00M	$154.0M	$153.0M	$249.0M		$132.0M	$66.00M
YoY Change	22.16%	-4.83%	21.6%	-31.28%	18.38%	97.86%	55.83%	-17.24%	22.88%	-29.76%	73.2%	-11.82%	23.6%	-3.26%	-42.86%	96.34%	-46.75%	0.65%	-38.55%			100.0%
Accrued Expenses	$54.48M	$56.46M	$25.57M	$53.00M	$86.00M	$62.00M	$50.00M	$46.00M	$32.00M	$26.00M	$22.00M	$15.00M	$20.00M	$19.00M	$20.00M	$82.00M	$129.0M	$120.0M	$94.00M	$49.00M		$20.00M	$21.00M
YoY Change	-3.51%	120.86%	-51.76%	-38.37%	38.71%	24.0%	8.7%	43.75%	23.08%	18.18%	46.67%	-25.0%	5.26%	-5.0%	-75.61%	-36.43%	7.5%	27.66%	91.84%			-4.76%
Deferred Revenue
YoY Change
Short-Term Debt	$743.6M	$691.3M	$344.3M	$55.00M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	7.56%	100.78%	526.03%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$1.224B	$1.096B	$735.9M	$409.0M	$524.0M	$432.0M	$237.0M	$166.0M	$177.0M	$144.0M	$190.0M	$112.0M	$130.0M	$108.0M	$112.0M	$243.0M	$211.0M	$274.0M	$247.0M	$298.0M		$152.0M	$87.00M
YoY Change	11.63%	48.95%	79.92%	-21.95%	21.3%	82.28%	42.77%	-6.21%	22.92%	-24.21%	69.64%	-13.85%	20.37%	-3.57%	-53.91%	15.17%	-22.99%	10.93%	-17.11%			74.71%
Long-Term Debt	$11.83B	$14.64B	$17.63B	$19.32B	$20.53B	$22.22B	$21.36B	$24.67B	$28.11B	$28.03B	$25.96B	$25.10B	$24.44B	$24.67B	$24.81B	$26.79B	$28.12B	$25.56B	$21.67B	$14.30B	$11.37B	$9.448B	$7.926B
YoY Change	-19.19%	-16.98%	-8.75%	-5.88%	-7.61%	4.04%	-13.42%	-12.23%	0.28%	7.98%	3.41%	2.72%	-0.96%	-0.54%	-7.4%	-4.72%	9.99%	17.94%	51.56%	25.82%	20.3%	19.2%
Other Long-Term Liabilities	$462.7M	$440.8M	$358.2M	$288.0M	$265.0M	$256.0M	$205.0M	$288.0M	$245.0M	$201.0M	$182.0M	$233.0M	$222.0M	$207.0M	$175.0M	$181.0M	$227.0M	$289.0M	$228.0M	$104.0M	$260.0M	$58.00M	$57.00M
YoY Change	4.97%	23.06%	24.39%	8.68%	3.52%	24.88%	-28.82%	17.55%	21.89%	10.44%	-21.89%	4.95%	7.25%	18.29%	-3.31%	-20.26%	-21.45%	26.75%	119.23%	-60.0%	348.28%	1.75%
Total Long-Term Liabilities	$12.29B	$15.08B	$17.99B	$19.61B	$20.79B	$22.48B	$21.56B	$24.96B	$28.35B	$28.23B	$26.14B	$25.33B	$24.66B	$24.88B	$24.98B	$26.97B	$28.34B	$25.85B	$21.90B	$14.41B	$11.63B	$9.506B	$7.983B
YoY Change	-18.48%	-16.18%	-8.26%	-5.7%	-7.48%	4.23%	-13.6%	-11.97%	0.44%	8.0%	3.18%	2.74%	-0.89%	-0.4%	-7.38%	-4.85%	9.64%	18.03%	52.04%	23.9%	22.3%	19.08%
Total Liabilities	$13.47B	$16.18B	$18.73B	$20.01B	$21.32B	$22.92B	$21.82B	$25.13B	$28.54B	$28.37B	$26.33B	$25.44B	$24.79B	$24.99B	$25.09B	$27.21B	$28.55B	$26.13B	$22.15B	$14.70B	$11.63B	$9.657B	$8.071B
YoY Change	-16.7%	-13.63%	-6.43%	-6.13%	-6.96%	5.05%	-13.19%	-11.93%	0.57%	7.77%	3.47%	2.65%	-0.8%	-0.42%	-7.79%	-4.7%	9.3%	17.95%	50.63%	26.46%	20.4%	19.65%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2012	2011	2010	2009
Basic Shares Outstanding	37.42M shares	37.60M shares	38.57M shares	39.06M shares	40.05M shares	47.01M shares	47.86M shares	49.13M shares	49.48M shares
Diluted Shares Outstanding	37.42M shares	37.60M shares	38.57M shares	39.06M shares	40.05M shares	47.24M shares	48.05M shares	49.33M shares	49.69M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $3.9601 Billion

About NELNET INC

Nelnet, Inc. engages in loan servicing and education technology, services, and payment processing. The company is headquartered in Lincoln, Nebraska and currently employs 7,550 full-time employees. The company went IPO on 2003-12-11. The firm's segments include Loan Servicing and Systems (LSS), Education Technology Services and Payments (ETSP), Asset Generation and Management (AGM), and Nelnet Bank. The LSS segment is focused on student and consumer loan servicing, loan servicing-related technology solutions and outsourcing business services. This segment includes the brands Nelnet Diversified Solutions, Nelnet Government Services and others. The ETSP segment provides education and payment technology and services for K-12 schools, higher education institutions, churches, and businesses in the United States and internationally. The AGM segment includes the acquisition and management of student and other loan assets, including investment interests therein. The Nelnet Bank includes an Internet Utah-chartered industrial bank focused on the private education and unsecured consumer loan markets.

Industry: Personal Credit Institutions Peers: BREAD FINANCIAL HOLDINGS, INC. AMERICAN EXPRESS CO CREDIT ACCEPTANCE CORP FirstCash Holdings, Inc. NAVIENT CORP OneMain Holdings, Inc. PRA GROUP INC SLM Corp SoFi Technologies, Inc. Upstart Holdings, Inc.