What is Nelnet's net debt?

Nelnet (NNI) reported net debt of $7.46B in Q1 2026.

How has Nelnet's net debt changed year-over-year?

Nelnet's net debt decreased by 11.6% year-over-year, from $8.44B to $7.46B.

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

Over 5 years (2020 to 2025), Nelnet's net debt has grown at a -17.2% compound annual growth rate (CAGR), from $19.22B to $7.5B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Nelnet NNI Net debt

Discontinued — last reported Q1 '26

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0.9×+0.2×

Qualys, Inc.QLYS

-0.8×-0.1×

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25.8×-2.1×

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2.3×-1.9×

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0.4×0.0×

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

See full

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.

$7.7Btotal debt−$240.0Mcash and equivalents=$7.46B

The official record: Nelnet’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Nelnet's net debt?: Nelnet (NNI) reported net debt of $7.46B in Q1 2026.
How has Nelnet's net debt changed year-over-year?: Nelnet's net debt decreased by 11.6% year-over-year, from $8.44B to $7.46B.
What is the long-term trend for Nelnet's net debt?: Over 5 years (2020 to 2025), Nelnet's net debt has grown at a -17.2% compound annual growth rate (CAGR), from $19.22B to $7.5B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.