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Nelnet NNI Nelnet Bank — Investments - real estate and venture capital

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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 nni:ImpairmentOfRealEstateAndVentureCapital.

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
Line itemLoan Servicing and SystemsEducation Technology Services and PaymentsNelnet Financial Services / Asset Generation and ManagementNelnet Financial Services / Nelnet BankNelnet Financial Services / NFS Other Operating SegmentsCorporate and Other ActivitiesTotal
Property and equipment - solar facilities (a)11,76711,767
Investments - real estate and venture capital (b)4,0013,5757,576
Investments - solar tax equity (b)5,7615,761
Leases, buildings, and associated improvements (c)3,3633,363
Property and equipment - internally developed software1,1451,145
1,1454,00124,46629,612
Year ended December 31, 2024
Property and equipment - solar facilities (a)1,1701,170

ITEM 16. FORM 10-K SUMMARY

FAQ

What is Nelnet's nelnet bank — investments - real estate and venture capital?
Nelnet (NNI) reported nelnet bank — investments - real estate and venture capital of $0 in Q4 2025.
What does nelnet bank — investments - real estate and venture capital mean?
The carrying value of the Nelnet Bank segment's holdings in real estate assets and venture capital funds. These investments represent strategic capital deployment outside of traditional lending activities, aimed at long-term appreciation or diversification.

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