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Nelnet NNI Asset Generation and Management — Net Income

Other segment segments

Education Technology Services and Payments (ETSP)
$36.34M+0.6%
Loan Servicing and Systems (LSS)
$15.05M+7.0%
Nelnet Bank
$7.11M+369%

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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:ProfitLoss.

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 itemReportable Segments / Loan Servicing and Systems (LSS)Reportable Segments / Education Technology Services and Payments (ETSP)Reportable Segments / Asset Generation and ManagementReportable Segments / Nelnet BankTotal Reportable SegmentsReconciling Items / NFS Other Operating SegmentsReconciling Items / Corporate and Other ActivitiesReconciling Items / Eliminations/ ReclassificationsTotal
Intersegment expenses, net16,7196,0341,35265724,762457(25,147)(72)
Total operating expenses111,34062,86012,1836,429192,81226,83519,417(5,078)233,986
Income (loss) before income taxes19,80147,81330,5209,219107,353(742)(30,958)875,661
Income tax (expense) benefit(4,752)(11,475)(7,321)(2,106)(25,654)1625,431(20,061)
Net income (loss)15,04936,33823,1997,11381,699(580)(25,527)855,600
Net (income) loss attributable to noncontrolling interests(18)(18)6915,483(8)15,526
Net income (loss) attributable to Nelnet, Inc.$15,04936,33823,1817,11381,681(511)(10,044)71,126
Total assets as of March 31, 2026$479,061452,9629,490,1622,515,55912,937,7441,129,447771,091(660,365)14,177,917

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Nelnet's asset generation and management — net income?
Nelnet (NNI) reported asset generation and management — net income of $23.2M in Q1 2026.
How has Nelnet's asset generation and management — net income changed year-over-year?
Nelnet's asset generation and management — net income increased by 2.3% year-over-year, from $22.68M to $23.2M.
What is the long-term trend for Nelnet's asset generation and management — net income?
Over 4 years (2021 to 2025), Nelnet's asset generation and management — net income has grown at a -26.1% compound annual growth rate (CAGR), from $321.94M to $96.15M.
What does asset generation and management — net income mean?
The final bottom-line profit generated by the Asset Generation and Management segment after accounting for all operating expenses, interest, taxes, and noncontrolling interests. This is the primary measure of the segment's contribution to the total company's net earnings.

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