Nelnet Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Interest Income	354.51	292.86	264.71	312.67	347.6
Net Interest Income Growth	21.05%	10.63%	-15.34%	-10.05%	20.04%
Non-Interest Income	1,404	1,165	924.31	1,242	977.08
Non-Interest Income Growth	20.54%	26.05%	-25.61%	27.16%	-12.01%
Revenues Before Loan Losses	1,759	1,458	1,189	1,555	1,325
Provision for Credit Losses	67.85	54.61	8.12	34.97	-12.43
Revenue	1,691	1,403	1,181	1,520	1,337
Revenue Growth (YoY)	20.50%	18.83%	-22.32%	13.69%	0.04%
Compensation Expenses	558.79	576.93	591.54	589.58	507.13
Selling, General & Admin	33.57	58.12	79.12	74.08	73.74
Other Non-Interest Expenses	572.31	539.7	441.54	354.68	254.13
Total Non-Interest Expense	927.09	882.93	892.43	834.43	726.34
Pretax Income	526.33	228.58	68.72	501.85	502.11
Provision for Income Taxes	-127.99	-52.67	-19.39	113.1	115.82
Net Income	826.82	359.96	139.16	388.75	386.28
Minority Interest in Earnings	-30.13	-8.13	-40.5	-	-
Net Income to Common	826.82	359.96	139.16	388.75	386.28
Net Income Growth	129.70%	158.67%	-64.20%	0.64%	10.48%
Shares Outstanding (Basic)	36	37	37	38	39
Shares Outstanding (Diluted)	36	37	37	38	39
Shares Change (YoY)	-0.82%	-2.07%	-0.50%	-2.51%	-1.25%
EPS (Basic)	11.79	5.02	2.40	10.82	10.20
EPS (Diluted)	11.79	5.02	2.40	10.82	10.20
EPS Growth	134.86%	109.17%	-77.82%	6.08%	13.08%
Free Cash Flow	396.75	641.99	357.98	623.64	421.38
Free Cash Flow Growth	-38.20%	79.34%	-42.60%	48.00%	78.71%
Free Cash Flow Per Share	10.92	17.52	9.57	16.58	10.92
Dividends Per Share	1.190	1.120	1.060	0.980	0.900
Dividend Growth	6.25%	5.66%	8.16%	8.89%	9.76%
Profit Margin	23.56%	12.54%	4.18%	25.57%	28.89%
FCF Margin	23.46%	45.75%	30.31%	41.02%	31.51%
EBITDA	90.62	132.53	145.39	176.25	132.33
EBITDA Margin	5.36%	9.44%	12.31%	11.59%	9.90%
Effective Tax Rate	-24.32%	-23.04%	-28.21%	22.54%	23.07%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q