Nelnet Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	373.44	354.51	292.86	264.71	312.67	347.6
Net Interest Income Growth	23.92%	21.05%	10.63%	-15.34%	-10.05%	20.04%
Non-Interest Income	1,404	1,404	1,165	924.31	1,242	977.08
Non-Interest Income Growth	24.76%	20.54%	26.05%	-25.61%	27.16%	-12.01%
Revenues Before Loan Losses	1,778	1,759	1,458	1,189	1,555	1,325
Provision for Credit Losses	105.76	67.85	54.61	8.12	34.97	-12.43
Revenue	1,672	1,691	1,403	1,181	1,520	1,337
Revenue Growth (YoY)	22.24%	20.50%	18.83%	-22.32%	13.69%	0.04%
Compensation Expenses	559.93	558.79	576.93	591.54	589.58	507.13
Selling, General & Admin	33.49	33.57	58.12	79.12	74.08	73.74
Other Non-Interest Expenses	564.49	572.31	539.7	441.54	354.68	254.13
Total Non-Interest Expense	1,158	1,165	1,175	1,112	1,018	835
Pretax Income	495.85	526.33	228.58	68.72	501.85	502.11
Provision for Income Taxes	251.96	127.99	52.67	19.39	113.1	115.82
Net Income	219.3	428.47	184.05	89.83	388.75	386.28
Minority Interest in Earnings	-34.61	-30.13	-8.13	-40.5	-	-
Net Income to Common	219.3	428.47	184.05	89.83	388.75	386.28
Net Income Growth	96.06%	132.81%	104.89%	-76.89%	0.64%	10.48%
Shares Outstanding (Basic)	36	36	37	37	38	39
Shares Outstanding (Diluted)	36	36	37	37	38	39
Shares Change (YoY)	-0.64%	-0.82%	-2.07%	-0.50%	-2.51%	-1.25%
EPS (Basic)	11.48	11.79	5.02	2.40	10.82	10.20
EPS (Diluted)	11.48	11.79	5.02	2.40	10.82	10.20
EPS Growth	117.01%	134.86%	109.17%	-77.82%	6.08%	13.08%
Shares Outstanding	35.95	35.88	36.29	37.06	37.13	37.92
Free Cash Flow	370.52	396.75	641.99	357.98	623.64	421.38
Free Cash Flow Growth	-6.61%	-38.20%	79.34%	-42.60%	48.00%	78.71%
Free Cash Flow Per Share	10.22	10.92	17.52	9.57	16.58	10.92
Dividends Per Share	1.240	1.190	1.120	1.060	0.980	0.900
Dividend Growth	4.20%	6.25%	5.66%	8.16%	8.89%	9.76%
Profit Margin	14.59%	23.56%	12.54%	4.18%	25.57%	28.89%
FCF Margin	22.16%	23.46%	45.75%	30.31%	41.02%	31.51%
EBITDA	88.66	90.62	132.53	145.39	176.25	132.33
EBITDA Margin	5.30%	5.36%	9.44%	12.31%	11.59%	9.90%
Effective Tax Rate	50.81%	24.32%	23.04%	28.21%	22.54%	23.07%

Updated May 7, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q