What is Nelnet's goodwill?

Nelnet (NNI) reported goodwill of $203.93M in Q1 2026.

How has Nelnet's goodwill changed year-over-year?

Nelnet's goodwill increased by 29.0% year-over-year, from $158.03M to $203.93M.

What is the long-term trend for Nelnet's goodwill?

Over 5 years (2020 to 2025), Nelnet's goodwill has grown at a 2.1% compound annual growth rate (CAGR), from $142.09M to $158.03M.

What does goodwill mean?

The excess of acquisition cost over the fair value of net identifiable assets acquired — representing brand value, customer relationships, and synergies from past M&A.

Nelnet (NNI) Goodwill — Quarterly & Annual

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Segments

By segment

See full

Education Technology Services and Payments$92.51M0.0%

Education Technology Services and Payments (ETSP)$92.51M0.0%

Loan Servicing and Systems (LSS)$69.54M+194%

Asset Generation and Management$41.88M0.0%

Nelnet Bank$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:Goodwill.

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	As of / March 31, 2026	As of / December 31, 2025
Restricted cash	308,177	357,639
Restricted cash - due to customers	282,341	319,924
Accounts receivable (net of allowance for doubtful accounts of $3,069 and $2,758, respectively)	196,910	193,453
Goodwill	203,930	158,029
Intangible assets, net	97,576	29,283
Property and equipment, net	84,606	75,532
Other assets	277,538	279,274
Total assets	$14,177,917	14,063,783

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Nelnet's goodwill?: Nelnet (NNI) reported goodwill of $203.93M in Q1 2026.
How has Nelnet's goodwill changed year-over-year?: Nelnet's goodwill increased by 29.0% year-over-year, from $158.03M to $203.93M.
What is the long-term trend for Nelnet's goodwill?: Over 5 years (2020 to 2025), Nelnet's goodwill has grown at a 2.1% compound annual growth rate (CAGR), from $142.09M to $158.03M.
What does goodwill mean?: The excess of acquisition cost over the fair value of net identifiable assets acquired — representing brand value, customer relationships, and synergies from past M&A.