What is Nelnet's D&A?

Nelnet (NNI) reported D&A of $21.16M in Q1 2026.

How has Nelnet's D&A changed year-over-year?

Nelnet's D&A decreased by 8.5% year-over-year, from $23.12M to $21.16M.

What is the long-term trend for Nelnet's D&A?

Over 4 years (2021 to 2025), Nelnet's D&A has grown at a -9.0% compound annual growth rate (CAGR), from $132.33M to $90.62M.

Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.

Nelnet (NNI) D&A — Quarterly & Annual

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Segments

By segment

See full

Loan Servicing and Systems (LSS)$4M+50.8%

Education Technology Services and Payments (ETSP)$2.37M-2.5%

Nelnet Bank$352K+3.8%

Asset Generation and Management$0—

Other financials

Income statement

See full

Net income$71.1M-13.8%

EPS (diluted)$1.97-12.8%

Balance sheet

See full

Cash & equivalents$240.0M+8.8%

Total debt$7.7B-11.1%

Total equity$3.7B+9.1%

Total assets$14.2B-0.1%

Cash flow

See full

Operating cash flow$73.1M-19.8%

CapEx$11.6M+242%

Free cash flow$61.6M-29.9%

Valuation

See full

Market cap$4.85B+5.9%

Enterprise value$12.31B+0.4%

P/E11.6×-2.3×

Returns & leverage

See full

Return on equity11.7%+5.9pp

Debt / equity2.1×-0.5×

Where this comes from

Reported directly by Nelnet in its filing.

Tagged under the XBRL concept us-gaap:DepreciationDepletionAndAmortization.

The source filing: Nelnet’s 10-Q, filed May 7, 2026.

Filed: May 7, 2026, 4:23 PM EDT
Fiscal quarter: Q1 FY2026
Calendar quarter: Q1 2026
Accession: 0001258602-26-000033

Line item	Three months ended / March 31, 2026	Three months ended / March 31, 2025
Net loss attributable to noncontrolling interests	(15,526)	(1,430)
Net income	55,600	81,130
Adjustments to reconcile net income to net cash provided by operating activities, net of acquisitions:
Depreciation and amortization, including debt discounts and loan premiums and deferred origination costs	21,163	23,123
Loan discount and deferred lender fees accretion	(44,131)	(19,407)
Provision for loan losses	53,244	15,337
Provision for beneficial interests	4,130	1,510
Derivative market value adjustments	(1,587)	6,324

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Nelnet's D&A?: Nelnet (NNI) reported D&A of $21.16M in Q1 2026.
How has Nelnet's D&A changed year-over-year?: Nelnet's D&A decreased by 8.5% year-over-year, from $23.12M to $21.16M.
What is the long-term trend for Nelnet's D&A?: Over 4 years (2021 to 2025), Nelnet's D&A has grown at a -9.0% compound annual growth rate (CAGR), from $132.33M to $90.62M.
What does D&A mean?: Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.