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	20.21%	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	18.55%	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	560.36	572.31	539.7	441.54	354.68	254.13
Total Non-Interest Expense	1,154	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	243.9	398.35	175.92	49.33	388.75	386.28
Minority Interest in Earnings	-	-30.13	-8.13	-40.5	-	-
Net Income to Common	243.9	428.47	184.05	89.83	388.75	386.28
Net Income Growth	52.02%	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	-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%

Additional Metrics

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
Free Cash Flow	370.52	396.75	641.99	357.98	623.64	421.38
Free Cash Flow Growth	-31.57%	-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	10.71%	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%
Effective Tax Rate	50.81%	24.32%	23.04%	28.21%	22.54%	23.07%

SEC Filings: 10-K · 10-Q