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Nelnet NNI Asset Generation and Management — Bonds and notes payable

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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$4.85B+5.9%
Enterprise value$12.31B+0.4%
P/E11.6×-2.3×

Returns & leverage

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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:DebtAndCapitalLeaseObligations.

The source filing: Nelnet’s 10-K, filed February 26, 2026.

Filed
Feb 26, 2026, 4:33 PM EST
Fiscal year
FY2025
Accession
0001258602-26-000014

As of December 31, 2025, the Company’s AGM operating segment had $7.0 billion, $0.2 billion, and $0.2 billion of FFELP loans indexed to the 30-day average SOFR rate, three-month commercial paper rate, and the three-month treasury bill rate, respectively, the indices for which reset daily, and $1.4 billion of debt indexed to 90-day average SOFR and 3-month CME term SOFR, the indices for which reset quarterly, and $5.0 billion of debt indexed to 30-day average SOFR and 1-month CME term SOFR, the indices for which reset monthly.

ITEM 16. FORM 10-K SUMMARY

FAQ

What is Nelnet's asset generation and management — bonds and notes payable?
Nelnet (NNI) reported asset generation and management — bonds and notes payable of $5B in Q4 2025.
How has Nelnet's asset generation and management — bonds and notes payable changed year-over-year?
Nelnet's asset generation and management — bonds and notes payable decreased by 0.0% year-over-year, from $5B to $5B.
What does asset generation and management — bonds and notes payable mean?
The total debt obligations issued by the segment to fund its asset acquisition and operational activities. This metric indicates the segment's reliance on external financing and its leverage position within the capital structure.

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