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Nelnet NNI Q3 2025 earnings

Reported November 6, 2025 · After market close

Revenue$494.6MBeat by $112.6M
EPS$2.95Beat by $1.43
Revenue estimate$382.0M
EPS estimate$1.52

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$419.9M
EPS estimate$2.13

Financials

Q3 2025

Income statement

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Net income$106.7M+4,368%
EPS (diluted)$2.94+4,100%

Balance sheet

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Cash & equivalents$216.4M-1.5%
Total debt$7.8B-12.5%
Total equity$3.7B+11.0%
Total assets$13.9B-1.5%

Cash flow

See full
Operating cash flow$112.4M-17.9%
CapEx$11.7M+163%
Free cash flow$100.8M-24.0%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$4.54B+9.6%
Enterprise value$12.14B-5.6%
P/E10.5×-23.8×

Returns & leverage

See full
Return on equity12.5%+8.8pp
Debt / equity2.1×-0.6×

Segments

By product

See full
Payment processing$59.5M+6.6%
Education technology services$36.3M+20.8%
Tuition payment plan services$33.0M+4.1%
Private education and consumer loan servicing$24.3M+86.1%
Software services$10.6M+104%

Versus estimates

Revenue

Q1 2026$419.1MMiss by $24.8MQ4 2025$392.0MBeat by $9.7M
Q3 2025$494.6MBeat by $112.6M
Q2 2025$617.7MBeat by $241.3MQ1 2025$466.1MBeat by $73.1MQ4 2024$434.2MBeat by $99.2M

Diluted EPS

Q1 2026$1.94Miss by $0.72Q4 2025$1.56Miss by $0.07
Q3 2025$2.95Beat by $1.43
Q2 2025$5.05Beat by $3.14Q1 2025$2.39Beat by $0.47Q4 2024$1.44Beat by $0.21

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Questions, answered.

When did Nelnet report Q3 2025 earnings?
Nelnet (NNI) reported Q3 2025 earnings on November 6, 2025 after market close.
What were Nelnet's Q3 2025 revenue and EPS?
Nelnet reported revenue of $494.6M and eps of $2.95 for Q3 2025.
Did Nelnet beat estimates in Q3 2025?
Revenue beat the consensus estimate of $382.0M by $112.6M. EPS beat the consensus estimate of $1.52 by $1.43.
How did Nelnet's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 105.7% from $240.5M a year earlier and eps grew 767.6% from $0.34.
Where can I find Nelnet's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001258602-25-000062) and the 10-Q periodic report (0001258602-25-000063) directly on SEC EDGAR. The filing index links above go to sec.gov.