What is Nelnet's EV / EBITDA?

Nelnet (NNI) reported EV / EBITDA of 10.4× in Q3 2025.

What is the long-term trend for Nelnet's EV / EBITDA?

Over 3 years (2020 to 2024), Nelnet's EV / EBITDA has grown at a -19.9% compound annual growth rate (CAGR), from 22.4× to 11.5×.

What does EV / EBITDA mean?

Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.

Nelnet NNI EV / EBITDA

EV / EBITDA at other companies

SoFi Technologies, Inc.SOFI

8.8×+0.1×

Enova InternationalENVA

10×+0.7×

MFA FinancialMFA

1.1×-0.2×

Fidelity National Information ServicesFIS

11.5×-2.6×

Apollo Global ManagementAPO

9.6×0.0×

American Financial GroupAFG

9.4×-1.0×

Other financials

Income statement

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Net income$71.1M-13.8%

EPS (diluted)$1.97-12.8%

Balance sheet

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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

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Operating cash flow$73.1M-19.8%

CapEx$11.6M+242%

Free cash flow$61.6M-29.9%

Valuation

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Market cap$4.68B+14.9%

Returns & leverage

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Return on equity11.7%+5.9pp

Debt / equity2.1×-0.5×

Where this comes from

Calculated from Nelnet’s reported figures.

enterprise value/ebitda=10.4×

Based on the most recent quarter.

The official record: Nelnet’s 10-Q, filed November 6, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Nelnet's EV / EBITDA?: Nelnet (NNI) reported EV / EBITDA of 10.4× in Q3 2025.
What is the long-term trend for Nelnet's EV / EBITDA?: Over 3 years (2020 to 2024), Nelnet's EV / EBITDA has grown at a -19.9% compound annual growth rate (CAGR), from 22.4× to 11.5×.
What does EV / EBITDA mean?: Enterprise value (market cap plus total debt minus cash) at the quarter end divided by trailing-twelve-month EBITDA. A capital-structure-neutral valuation multiple.