Nelnet NNI Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Intersegment revenue by Business | ||||||
| Asset Generation and Management | $0— | $0— | $0— | $0— | $0— | |
| Education Technology Services and Payments (ETSP) | $274K+3.0% | $266K+5.1% | $253K+4.1% | $243K+3.8% | $234K+6.8% | |
| Loan Servicing and Systems (LSS) | $21.48M-3.1% | $22.16M-2.3% | $22.67M-0.5% | $22.79M-2.2% | $23.29M-4.9% | |
| Nelnet Bank | $0— | $0— | $0— | $0— | $0— | |
| Net Income by Business | ||||||
| Asset Generation and Management | $96.67M+0.5% | $96.15M-0.7% | $96.79M+71.2% | $56.53M+4.3% | $54.18M-5.2% | |
| Education Technology Services and Payments (ETSP) | $86.11M+0.3% | $85.88M-0.8% | $86.57M-1.6% | $88.02M-1.8% | $89.61M-0.1% | |
| Loan Servicing and Systems (LSS) | $74.24M+1.3% | $73.26M-13.6% | $84.78M+83.7% | $46.16M+41.2% | $32.69M+6.2% | |
| Nelnet Bank | $16.65M+50.6% | $11.05M— | —— | —— | —— | |
| Other, net by Business | ||||||
| Asset Generation and Management | $49.49M+75.8% | $28.14M+80.4% | $15.6M-23.2% | $20.33M+43.6% | $14.16M-0.6% | |
| Education Technology Services and Payments (ETSP) | $0— | $0— | $0— | $0— | $0— | |
| Loan Servicing and Systems (LSS) | $135K-70.5% | $458K-54.8% | $1.01M-36.6% | $1.6M-26.3% | $2.17M-21.6% | |
| Nelnet Bank | $4.74M+42.6% | $3.32M+18.6% | $2.8M+20.0% | $2.34M-14.1% | $2.72M-7.9% | |
| Noninterest Income (Expense) by Business | ||||||
| Asset Generation and Management | $49.29M+113% | $23.13M+19.8% | $19.31M+6.6% | $18.11M+25.2% | $14.46M-41.9% | |
| Education Technology Services and Payments (ETSP) | $514.53M+1.4% | $507.42M+0.8% | $503.42M+2.3% | $492.27M+0.3% | $490.99M+0.8% | |
| Loan Servicing and Systems (LSS) | $537.81M+1.1% | $531.71M-4.1% | $554.19M+8.2% | $512.01M+2.1% | $501.41M-1.6% | |
| Nelnet Bank | $4.94M+4,017% | $120K-97.3% | $4.46M+466% | $788K-77.6% | $3.51M-59.0% | |
| Interest and Dividend Income, Operating by Business | ||||||
| Asset Generation and Management | $669.86M-0.6% | $674.09M0.0% | $674.21M-5.8% | $715.72M-5.0% | $753.19M-7.9% | |
| Education Technology Services and Payments (ETSP) | $25.65M-3.1% | $26.48M-3.7% | $27.5M-4.1% | $28.67M-1.0% | $28.96M-3.1% | |
| Loan Servicing and Systems (LSS) | $2.86M+17.1% | $2.44M-9.8% | $2.71M-11.8% | $3.07M-17.1% | $3.7M-24.1% | |
| Nelnet Bank | $129.47M+9.1% | $118.7M+7.2% | $110.7M+9.3% | $101.28M+10.4% | $91.78M+8.8% | |
| Intersegment expenses, net by Business | ||||||
| Asset Generation and Management | $5.06M+2.1% | $4.95M-1.7% | $5.04M-0.6% | $5.07M-0.2% | $5.08M+0.8% | |
| Education Technology Services and Payments (ETSP) | $25.04M+1.7% | $24.61M+7.2% | $22.97M+8.6% | $21.15M+7.4% | $19.69M+4.3% | |
| Loan Servicing and Systems (LSS) | $68.05M+0.4% | $67.81M+2.0% | $66.51M-1.7% | $67.64M-1.4% | $68.63M-4.0% | |
| Nelnet Bank | $2.76M-1.9% | $2.81M+3.3% | $2.72M+5.6% | $2.58M+2.4% | $2.51M+6.5% | |
| Total Assets by Business | ||||||
| Asset Generation and Management | $39.43B-2.2% | $40.3B-0.4% | $40.48B-1.6% | $41.14B-3.0% | $42.42B-4.4% | |
| Education Technology Services and Payments (ETSP) | $2.05B-0.8% | $2.07B-2.8% | $2.13B-1.4% | $2.16B+2.6% | $2.11B+3.9% | |
| Loan Servicing and Systems (LSS) | $1B+41.7% | $706.63M-5.3% | $746.17M-0.3% | $748.33M-11.4% | $844.28M-3.2% | |
| Nelnet Bank | $8.36B+11.0% | $7.53B+9.0% | $6.91B+10.8% | $6.23B+10.3% | $5.65B+11.1% | |
| Other expenses by Business | ||||||
| Asset Generation and Management | $6.65M+2.5% | $6.48M+17.2% | $5.53M+5.2% | $5.26M+33.7% | $3.93M-5.3% | |
| Education Technology Services and Payments (ETSP) | $40.68M+7.1% | $37.96M+2.6% | $37M+5.5% | $35.08M+3.9% | $33.77M+4.6% | |
| Loan Servicing and Systems (LSS) | $49.63M+7.3% | $46.27M+2.9% | $44.96M-0.3% | $45.09M-0.2% | $45.18M+4.4% | |
| Nelnet Bank | $7.41M-1.1% | $7.49M+12.8% | $6.64M-7.6% | $7.19M-0.5% | $7.22M+3.5% | |
| Derivative settlements, net by Business | ||||||
| Asset Generation and Management | $1.62M-22.8% | $2.1M-20.0% | $2.62M-22.6% | $3.38M-20.3% | $4.24M-18.7% | |
| Education Technology Services and Payments (ETSP) | $0— | $0— | $0— | $0— | $0— | |
| Loan Servicing and Systems (LSS) | $0— | $0— | $0— | $0— | $0— | |
| Nelnet Bank | $481K-20.6% | $606K-16.0% | $721K-13.7% | $835K-5.0% | $879K-4.1% | |
| Income Tax Expense (Benefit) by Business | ||||||
| Asset Generation and Management | $30.5M+0.5% | $30.34M-0.7% | $30.55M+71.2% | $17.84M+4.3% | $17.11M-5.2% | |
| Education Technology Services and Payments (ETSP) | $27.19M+0.3% | $27.12M-0.8% | $27.34M-1.7% | $27.8M-1.8% | $28.3M-0.1% | |
| Loan Servicing and Systems (LSS) | $23.44M+1.3% | $23.13M-13.6% | $26.77M+83.7% | $14.58M+41.2% | $10.32M+6.2% | |
| Nelnet Bank | $5.23M+46.9% | $3.56M— | —— | —— | —— | |
| Net loss attributable to noncontrolling interests by Business | ||||||
| Asset Generation and Management | $86K+1.2% | $85K+26.9% | $67K+67.5% | $40K+135% | $17K— | |
| Education Technology Services and Payments (ETSP) | $0+100% | -$45K+55.9% | -$102K+34.6% | -$156K+15.7% | -$185K-17.8% | |
| Loan Servicing and Systems (LSS) | $0— | $0— | $0— | $0— | $0— | |
| Nelnet Bank | $0— | $0— | $0— | $0— | $0— | |
| Interest Income (Expense), Operating by Business | ||||||
| Asset Generation and Management | $225.51M+6.9% | $210.99M+7.7% | $195.83M+3.3% | $189.54M+8.0% | $175.45M+7.6% | |
| Education Technology Services and Payments (ETSP) | $25.65M-3.1% | $26.48M-3.7% | $27.5M-4.1% | $28.67M-1.0% | $28.96M-3.1% | |
| Loan Servicing and Systems (LSS) | $2.31M-5.3% | $2.44M-9.8% | $2.71M-11.8% | $3.07M-17.1% | $3.7M-24.1% | |
| Nelnet Bank | $64.86M+9.2% | $59.42M+8.5% | $54.79M+9.7% | $49.94M+12.6% | $44.34M+12.2% | |
| Reinsurance losses and underwriting expenses by Business | ||||||
| Asset Generation and Management | $0— | $0— | $0— | $0— | $0— | |
| Education Technology Services and Payments (ETSP) | $0— | $0— | $0— | $0— | $0— | |
| Loan Servicing and Systems (LSS) | $0— | $0— | $0— | $0— | $0— | |
| Nelnet Bank | $0— | $0— | $0— | $0— | $0— | |
| Derivative market value adjustments, net by Business | ||||||
| Asset Generation and Management | -$1.13M+82.4% | -$6.42M-442% | $1.88M+126% | -$7.18M-76.0% | -$4.08M-175% | |
| Education Technology Services and Payments (ETSP) | $0— | $0— | $0— | $0— | $0— | |
| Loan Servicing and Systems (LSS) | $0— | $0— | $0— | $0— | $0— | |
| Salaries and benefits by Business | ||||||
| Asset Generation and Management | $6.77M+6.4% | $6.36M+7.6% | $5.92M+14.5% | $5.17M+7.4% | $4.81M+0.5% | |
| Education Technology Services and Payments (ETSP) | $170.38M+0.6% | $169.42M+0.2% | $169.13M+1.2% | $167.15M+0.5% | $166.29M+1.0% | |
| Loan Servicing and Systems (LSS) | $269.85M-0.7% | $271.81M-3.4% | $281.44M-2.3% | $288.14M-1.7% | $293.22M-2.4% | |
| Nelnet Bank | $11.55M+0.9% | $11.45M+3.5% | $11.06M-1.4% | $11.21M-0.1% | $11.22M+0.9% | |
| Operating Expenses by Business | ||||||
| Asset Generation and Management | $48.98M+4.1% | $47.07M+6.3% | $44.27M+1.5% | $43.6M+0.5% | $43.37M-4.8% | |
| Education Technology Services and Payments (ETSP) | $248.06M+1.7% | $244.03M+2.1% | $239.05M+2.4% | $233.45M+1.5% | $230.03M+1.6% | |
| Loan Servicing and Systems (LSS) | $434.43M+1.0% | $430.2M-1.9% | $438.34M-2.4% | $449.17M-2.1% | $458.58M-2.9% | |
| Nelnet Bank | $26.87M+2.0% | $26.34M+6.2% | $24.79M0.0% | $24.78M+2.7% | $24.12M+4.4% | |
| Servicing fees by Business | ||||||
| Asset Generation and Management | $30.51M+4.2% | $29.27M+5.3% | $27.79M-1.2% | $28.11M-4.9% | $29.55M-6.5% | |
| Nelnet Bank | $3.75M+17.5% | $3.19M+6.7% | $2.99M+22.7% | $2.44M+34.9% | $1.81M+31.6% | |
| Interest expense on bonds and notes payable and bank deposits by Business | ||||||
| Asset Generation and Management | $444.36M-4.0% | $463.1M-3.2% | $478.39M-9.1% | $526.18M-8.9% | $577.75M-11.7% | |
| Education Technology Services and Payments (ETSP) | $0— | $0— | $0— | $0— | $0— | |
| Loan Servicing and Systems (LSS) | $548K— | $0— | $0— | $0— | $0— | |
| Nelnet Bank | $64.61M+9.0% | $59.28M+6.0% | $55.92M+8.9% | $51.34M+8.2% | $47.44M+5.8% | |
| D&A by Business | ||||||
| Asset Generation and Management | $0— | $0— | $0— | $0— | $0— | |
| Education Technology Services and Payments (ETSP) | $10.82M-0.6% | $10.88M+9.3% | $9.96M-1.1% | $10.07M-2.0% | $10.28M-2.4% | |
| Loan Servicing and Systems (LSS) | $10.32M+15.0% | $8.97M-13.5% | $10.37M-23.2% | $13.5M-20.7% | $17.02M-12.6% | |
| Nelnet Bank | $1.41M+0.9% | $1.4M+1.2% | $1.38M+0.9% | $1.37M+0.8% | $1.36M+6.2% | |
| Cost of Services by Business | ||||||
| Asset Generation and Management | $0— | $0— | $0— | $0— | $0— | |
| Education Technology Services and Payments (ETSP) | $178.81M+1.1% | $176.91M0.0% | $176.91M+3.0% | $171.82M-0.2% | $172.2M-0.3% | |
| Loan Servicing and Systems (LSS) | $8.01M+6.0% | $7.55M+8.0% | $7M+35.3% | $5.17M+46.8% | $3.52M+86.4% | |
| Nelnet Bank | $0— | $0— | $0— | $0— | $0— | |
| Goodwill by Business | ||||||
| Asset Generation and Management | $167.53M0.0% | $167.53M0.0% | $167.53M0.0% | $167.53M0.0% | $167.53M0.0% | |
| Education Technology Services and Payments (ETSP) | $370.03M0.0% | $370.03M0.0% | $370.03M0.0% | $370.03M0.0% | $370.03M0.0% | |
| Loan Servicing and Systems (LSS) | $140.46M+48.5% | $94.56M0.0% | $94.56M0.0% | $94.56M0.0% | $94.56M0.0% | |
| Nelnet Bank | $0— | $0— | $0— | $0— | $0— | |
| Provision for loan losses by Business | ||||||
| Asset Generation and Management | $84.72M+72.0% | $49.26M+62.8% | $30.26M-39.0% | $49.61M+44.8% | $34.25M+23.7% | |
| Education Technology Services and Payments (ETSP) | $0— | $0— | $0— | $0— | $0— | |
| Loan Servicing and Systems (LSS) | $0— | $0— | $0— | $0— | $0— | |
| Nelnet Bank | $21.04M+13.2% | $18.59M-13.5% | $21.5M-9.8% | $23.83M-4.2% | $24.87M-7.6% | |
| Revenue by Product | ||||||
| Education technology services | $171.9M+0.2% | $171.48M-0.5% | $172.26M+3.8% | $166.02M-1.6% | $168.74M-0.2% | |
| FFELP loan servicing | $8.5M-4.3% | $8.88M-7.0% | $9.55M-8.7% | $10.46M-8.8% | $11.47M-6.1% | |
| Other | $1.66M+50.0% | $1.11M+4.8% | $1.06M-7.4% | $1.14M-47.7% | $2.18M-27.5% | |
| Outsourced services | $3.01M-10.4% | $3.35M-13.0% | $3.85M-9.8% | $4.27M-8.4% | $4.67M-2.6% | |
| Payment processing | $197.67M+2.3% | $193.32M+1.9% | $189.65M+2.0% | $185.98M+1.7% | $182.79M+2.1% | |
| Private education and consumer loan servicing | $97.44M+3.1% | $94.47M-0.1% | $94.54M+13.5% | $83.31M+13.3% | $73.53M+15.9% | |
| Software services | $43.19M+12.4% | $38.42M+14.9% | $33.44M+19.2% | $28.06M+19.5% | $23.48M+11.7% | |
| Tuition payment plan services | $143.03M+1.3% | $141.25M+0.7% | $140.21M+0.9% | $138.89M+1.3% | $137.04M+0.9% | |
| Cost of Services by Product | ||||||
| Education technology services and payments revenue | $178.81M+1.1% | $176.91M0.0% | $176.91M+3.0% | $171.82M-0.2% | $172.2M-0.3% | |
| Loan servicing and systems revenue | $8.01M+6.0% | $7.55M+8.0% | $7M+35.3% | $5.17M+46.8% | $3.52M+86.4% | |
| Solar construction revenue | $33.98M-18.7% | $41.81M-28.0% | $58.04M-24.9% | $77.25M+8.4% | $71.27M-8.2% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Nelnet break its business down?
- Nelnet (NNI) reports intersegment revenue by business across 4 parts — Asset Generation and Management, Education Technology Services and Payments (ETSP), Loan Servicing and Systems (LSS) and Nelnet Bank. Each is extracted from the segment footnotes and tracked over time.
- Where does Nelnet's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Nelnet's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.