Financials in USD. Standardized financial statements.
A compact view of how Nelnet, Inc. turns revenue into operating income and net income.
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue? | $2.26B | $1.85B | $1.81B | $1.82B | $1.42B | $1.37B | $1.68B | $1.68B | $1.18B | $1.19B |
| Revenue Growth? | +22.6% | +1.8% | -0.1% | +28.1% | +3.3% | -18.2% | -0.2% | +42.6% | -1.3% | 0.0% |
| Cost of Revenue? | $293.41M | $735.14M | $853.21M | $465.11M | $163.81M | $393.43M | $738.33M | $692.91M | $479.64M | $401.68M |
| Gross Profit? | $1.97B | $1.11B | $961.15M | $1.35B | $1.25B | $979.20M | $939.43M | $987.40M | $698.65M | $792.10M |
| Gross Margin? | +87.0% | +60.2% | +53.0% | +74.4% | +88.4% | +71.3% | +56.0% | +58.8% | +59.3% | +66.4% |
| Operating Expenses? | $821.71M | $882.93M | $892.43M | $849.96M | $751.91M | $528.71M | $762.69M | $701.11M | $471.97M | $393.28M |
| Operating Income? | $1.14B | $228.58M | $68.72M | $501.85M | $502.11M | $450.49M | $176.75M | $286.29M | $226.68M | $398.81M |
| EBITDA? | $1.06B | $361.11M | $214.11M | $678.09M | $634.43M | $648.96M | $369.41M | $470.98M | $364.51M | $521.36M |
| Income Before Tax | $526.33M | $228.58M | $68.72M | $501.85M | $502.11M | $450.49M | $176.75M | $286.29M | $226.68M | $398.81M |
| Income Tax Expense | $127.99M | $52.67M | $19.39M | $113.10M | $115.82M | $100.86M | $35.45M | $58.77M | $64.86M | $141.31M |
| Net Income? | $428.47M | $184.04M | $89.83M | $406.90M | $393.29M | $352.44M | $141.80M | $227.91M | $173.17M | $256.75M |
| EPS? | $11.58 | $5.02 | $2.39 | $10.63 | $10.20 | $9.02 | $3.54 | $5.64 | $4.14 | $6.02 |
| Diluted EPS? | $11.58 | $5.02 | $2.39 | $10.63 | $10.20 | $9.02 | $3.54 | $5.57 | $4.14 | $6.02 |
Revenue, profitability, margins, EPS, and share-count trends over time.
Top-line demand and scale over time
Profit left after direct production costs
Core business profitability before financing and tax
Bottom-line profit after all expenses
Profit allocated to each diluted share
Share count trend that affects EPS quality
Gross, operating, and net margin quality