Nelnet, Inc. (NNI)

Nelnet Income Statement

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

Year	2023	2022	2021	2020	2019
Revenue	1,154	1,512	1,337	1,337	1,042
Revenue Growth (YoY)	-23.66%	13.10%	0.04%	28.32%	-1.01%
Cost of Revenue	219.76	168.37	108.66	105.02	102.03
Gross Profit	934.69	1,344	1,228	1,232	939.57
Selling, General & Admin	591.54	589.58	507.13	501.83	463.5
Other Operating Expenses	268.97	244.86	219.21	279.27	299.32
Operating Expenses	860.51	834.43	726.34	781.11	762.82
Operating Income	74.19	509.47	502.11	450.49	176.75
Other Expense / Income	-37.1	-11.11	-7	-2.82	-0.51
Pretax Income	111.29	520.57	509.11	453.3	177.25
Income Tax	19.75	113.22	115.82	100.86	35.45
Net Income	91.53	407.35	393.29	352.44	141.8
Net Income Growth	-77.53%	3.58%	11.59%	148.54%	-37.78%
Shares Outstanding (Basic)	37	38	39	39	40
Shares Outstanding (Diluted)	37	38	39	39	40
Shares Change	-0.50%	-2.51%	-1.25%	-2.47%	-2.11%
EPS (Basic)	2.45	10.83	10.20	9.02	3.54
EPS (Diluted)	2.45	10.83	10.20	9.02	3.54
EPS Growth	-77.38%	6.18%	13.08%	154.80%	-36.45%
Free Cash Flow	358.92	624.64	421.38	235.79	206.42
Free Cash Flow Per Share	9.59	16.61	10.92	6.04	5.15
Dividend Per Share	1.060	0.980	0.900	0.820	0.740
Dividend Growth	8.16%	8.89%	9.76%	10.81%	12.12%
Gross Margin	80.96%	88.87%	91.87%	92.14%	90.20%
Operating Margin	6.43%	33.69%	37.55%	33.70%	16.97%
Profit Margin	7.93%	26.94%	29.41%	26.37%	13.61%
Free Cash Flow Margin	31.09%	41.30%	31.51%	17.64%	19.82%
Effective Tax Rate	17.75%	21.75%	22.75%	22.25%	20.00%
EBITDA	261.56	702.52	648.6	663.37	378.71
EBITDA Margin	22.66%	46.45%	48.51%	49.63%	36.36%
Depreciation & Amortization	150.27	181.95	139.5	210.07	201.46
EBIT	111.29	520.57	509.11	453.3	177.25
EBIT Margin	9.64%	34.42%	38.08%	33.91%	17.02%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).