NELNET INC
NNI · Personal Credit Institutions · 37.4M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $12M (gross $28M, SBC $16M)
Reference price $128.95 · est. market cap ~$4.8B — last insider sale, 2025-12-09 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B70Nelnet — student-loan servicer and diversified holding company.
Strengths
- ROA 75th pct, free cash flow 84th
- Diversified (servicing, fintech, telecom, bank) earnings
Risks
- Leverage (D/E 2.1) inherent to loan portfolio
- Student-loan-policy and runoff exposure
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 2.11)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
11.6%
Return on assets
3.0%
Net-income growth
132.8%
Debt / equity
2.1×
Free cash flow
$397M
Tangible book value
$3.5B
Cash & investments
$296M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Bansal Preeta D | Grant | 1.6K | $110.76 |
| 2026-06-15 | Farrell Kathleen Anne | Grant | 1.6K | $110.76 |
| 2026-06-15 | Van Deun Jona M | Grant | 407 | $110.76 |
| 2026-06-15 | Graff David S | Grant | 1.5K | $110.76 |
| 2026-06-10 | Dunlap Matthew W | Tax withheld | 15 | $130.72 |
| 2026-04-30 | Kruger James D | Gift | 5.0K | — |
| 2026-04-15 | Munn William J | Gift | 1.1K | — |
| 2026-04-15 | Munn William J | Gift | 1.1K | — |
| 2026-03-30 | Peterson Adam K | Option exercise | 9.5K | — |
| 2026-03-10 | Tewes Timothy | Tax withheld | 356 | $131.23 |
| 2026-03-10 | Munn William J | Tax withheld | 119 | $131.23 |
| 2026-03-10 | Munn William J | Tax withheld | 143 | $131.23 |
| 2026-03-10 | Munn William J | Tax withheld | 129 | $131.23 |
| 2026-03-10 | Munn William J | Tax withheld | 50 | $131.23 |
| 2026-03-10 | Munn William J | Grant | 3.0K | — |
| 2026-03-10 | Munn William J | Grant | 2.6K | — |
| 2026-03-10 | Munn William J | Tax withheld | 763 | $132.87 |
| 2026-03-10 | Tewes Timothy | Tax withheld | 794 | $131.23 |
| 2026-03-10 | Wenger DeeAnn | Tax withheld | 245 | $131.23 |
| 2026-03-10 | Wenger DeeAnn | Grant | 3.8K | — |
| 2026-03-10 | Wenger DeeAnn | Grant | 2.2K | — |
| 2026-03-10 | Wenger DeeAnn | Tax withheld | 636 | $132.87 |
| 2026-03-10 | Olinger Emily | Tax withheld | 111 | $131.23 |
| 2026-03-10 | Olinger Emily | Tax withheld | 50 | $131.23 |
| 2026-03-10 | Olinger Emily | Grant | 2.3K | — |
| 2026-03-10 | Olinger Emily | Grant | 1.7K | — |
| 2026-03-10 | Olinger Emily | Tax withheld | 509 | $132.87 |
| 2026-03-10 | Dunlap Matthew W | Tax withheld | 30 | $131.23 |
| 2026-03-10 | Dunlap Matthew W | Tax withheld | 67 | $131.23 |
| 2026-03-10 | Dunlap Matthew W | Grant | 3.8K | — |
| 2026-03-10 | NOORDHOEK JEFFREY R | Tax withheld | 1.2K | $131.23 |
| 2026-03-10 | NOORDHOEK JEFFREY R | Tax withheld | 537 | $131.23 |
| 2026-03-10 | NOORDHOEK JEFFREY R | Tax withheld | 486 | $131.23 |
| 2026-03-10 | NOORDHOEK JEFFREY R | Tax withheld | 204 | $131.23 |
| 2026-03-10 | NOORDHOEK JEFFREY R | Grant | 7.5K | — |
| 2026-03-10 | Tewes Timothy | Tax withheld | 322 | $131.23 |
| 2026-03-10 | Tewes Timothy | Tax withheld | 135 | $131.23 |
| 2026-03-10 | Tewes Timothy | Grant | 7.5K | — |
| 2026-03-10 | Tewes Timothy | Grant | 8.7K | — |
| 2026-03-10 | Tewes Timothy | Tax withheld | 3.7K | $132.87 |
| 2026-03-10 | HEIMES TERRY J | Tax withheld | 791 | $131.23 |
| 2026-03-10 | HEIMES TERRY J | Tax withheld | 356 | $131.23 |
| 2026-03-10 | HEIMES TERRY J | Tax withheld | 322 | $131.23 |
| 2026-03-10 | HEIMES TERRY J | Tax withheld | 135 | $131.23 |
| 2026-03-10 | HEIMES TERRY J | Grant | 7.5K | — |
| 2026-03-10 | HEIMES TERRY J | Grant | 6.5K | — |
| 2026-03-10 | HEIMES TERRY J | Tax withheld | 3.7K | $132.87 |
| 2026-03-10 | Kruger James D | Tax withheld | 795 | $131.23 |
| 2026-03-10 | Kruger James D | Tax withheld | 356 | $131.23 |
| 2026-03-10 | Kruger James D | Tax withheld | 322 | $131.23 |
| 2026-03-10 | Kruger James D | Tax withheld | 135 | $131.23 |
| 2026-03-10 | Kruger James D | Grant | 7.5K | — |
| 2026-03-10 | Kruger James D | Grant | 8.7K | — |
| 2026-03-10 | Kruger James D | Tax withheld | 3.7K | $132.87 |
| 2026-03-10 | Wenger DeeAnn | Tax withheld | 99 | $131.23 |
| 2026-03-10 | Wenger DeeAnn | Tax withheld | 100 | $131.23 |
| 2026-03-10 | Wenger DeeAnn | Tax withheld | 129 | $131.23 |
| 2026-03-10 | Wenger DeeAnn | Tax withheld | 69 | $131.23 |
| 2025-12-09 | Van Deun Jona M | Sell | 400 | $128.95 |
| 2025-12-01 | DUNLAP MICHAEL S | Gift | 101K | — |
| 2025-12-01 | DUNLAP MICHAEL S | Gift | 266K | — |
| 2025-12-01 | DUNLAP MICHAEL S | Gift | 67K | — |
| 2025-12-01 | Dunlap Matthew W | Gift | 63K | — |
| 2025-12-01 | DUNLAP MICHAEL S | Gift | 302K | — |
| 2025-12-01 | DUNLAP MICHAEL S | Gift | 101K | — |
| 2025-12-01 | DUNLAP MICHAEL S | Gift | 89K | — |
| 2025-12-01 | DUNLAP MICHAEL S | Gift | 89K | — |
| 2025-12-01 | DUNLAP MICHAEL S | Gift | 59K | — |
| 2025-11-19 | DUNLAP MICHAEL S | Gift | 35K | — |
| 2025-09-05 | HENNING THOMAS EDWARD | Sell | 5.1K | $128.87 |
| 2025-09-05 | HENNING THOMAS EDWARD | Sell | 3.1K | $128.87 |
| 2025-08-25 | Butterfield Shelby J | Sell | 42K | $119.25 |
| 2025-08-25 | Butterfield Shelby J | Conversion | 42K | — |
| 2025-08-25 | Butterfield Shelby J | Conversion | 42K | — |
| 2025-08-18 | MUHLEISEN ANGIE | Gift | 12K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 7.3K | — |
| 2025-07-28 | Butterfield Shelby J | Gift | 18K | — |
| 2025-07-28 | Butterfield Shelby J | Gift | 3.7K | — |
| 2025-07-28 | Butterfield Shelby J | Gift | 3.7K | — |
| 2025-07-28 | Dunlap Matthew W | Gift | 8.1K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 14K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 3.2K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 4.8K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 4.8K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 15K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 3.3K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 5.0K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 5.0K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 21K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 4.7K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 7.0K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 7.0K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 22K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 4.9K | — |
| 2025-07-28 | DUNLAP MICHAEL S | Gift | 7.3K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 9.3K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Inherited | 1.2M | — |
| 2025-07-28 | MUHLEISEN ANGIE | Inherited | 1.2M | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 28K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 14K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 14K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 29K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 15K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 15K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 19K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 9.3K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 20K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 9.8K | — |
| 2025-07-28 | MUHLEISEN ANGIE | Gift | 9.8K | — |
| 2025-07-17 | MUHLEISEN ANGIE | Gift | 41K | — |
| 2025-06-16 | Van Deun Jona M | Grant | 471 | $95.58 |
| 2025-06-16 | Graff David S | Grant | 1.8K | $95.58 |
| 2025-06-16 | Farrell Kathleen Anne | Grant | 1.9K | $95.58 |
| 2025-06-16 | Bansal Preeta D | Grant | 1.9K | $95.58 |
| 2025-06-10 | Dunlap Matthew W | Tax withheld | 15 | $115.07 |
| 2025-06-09 | Peterson Adam K | Other | 231K | — |
| 2025-04-09 | Munn William J | Gift | 1.7K | — |
| 2025-04-09 | Munn William J | Gift | 1.7K | — |
| 2025-03-10 | Wenger DeeAnn | Tax withheld | 141 | $115.86 |
| 2025-03-10 | Wenger DeeAnn | Tax withheld | 99 | $115.86 |
| 2025-03-10 | Wenger DeeAnn | Tax withheld | 100 | $115.86 |
| 2025-03-10 | Wenger DeeAnn | Tax withheld | 129 | $115.86 |
| 2025-03-10 | Wenger DeeAnn | Tax withheld | 69 | $115.86 |
| 2025-03-10 | Wenger DeeAnn | Grant | 4.2K | — |
| 2025-03-10 | Tewes Timothy | Tax withheld | 791 | $115.86 |
| 2025-03-10 | Tewes Timothy | Tax withheld | 488 | $115.86 |
| 2025-03-10 | Tewes Timothy | Tax withheld | 486 | $115.86 |
| 2025-03-10 | Tewes Timothy | Grant | 2.3K | — |
| 2025-03-10 | Olinger Emily | Tax withheld | 111 | $115.86 |
| 2025-03-10 | Olinger Emily | Grant | 834 | — |
| 2025-03-10 | NOORDHOEK JEFFREY R | Tax withheld | 791 | $115.86 |
| 2025-03-10 | NOORDHOEK JEFFREY R | Tax withheld | 488 | $115.86 |
| 2025-03-10 | NOORDHOEK JEFFREY R | Tax withheld | 486 | $115.86 |
| 2025-03-10 | NOORDHOEK JEFFREY R | Grant | 2.3K | — |
| 2025-03-10 | Munn William J | Tax withheld | 141 | $115.86 |
| 2025-03-10 | Munn William J | Tax withheld | 119 | $115.86 |
| 2025-03-10 | Munn William J | Tax withheld | 143 | $115.86 |
| 2025-03-10 | Munn William J | Tax withheld | 129 | $115.86 |
| 2025-03-10 | Munn William J | Grant | 834 | — |
| 2025-03-10 | Kruger James D | Tax withheld | 791 | $115.86 |
| 2025-03-10 | Kruger James D | Tax withheld | 488 | $115.86 |
| 2025-03-10 | Kruger James D | Tax withheld | 486 | $115.86 |
| 2025-03-10 | Kruger James D | Grant | 2.3K | — |
| 2025-03-10 | HEIMES TERRY J | Tax withheld | 791 | $115.86 |
| 2025-03-10 | HEIMES TERRY J | Tax withheld | 488 | $115.86 |
| 2025-03-10 | HEIMES TERRY J | Tax withheld | 486 | $115.86 |
| 2025-03-10 | HEIMES TERRY J | Grant | 2.3K | — |
| 2025-03-10 | Dunlap Matthew W | Tax withheld | 30 | $115.86 |
| 2025-03-10 | Dunlap Matthew W | Tax withheld | 28 | $115.86 |
| 2025-03-10 | Dunlap Matthew W | Tax withheld | 67 | $115.86 |
| 2025-02-21 | NOORDHOEK JEFFREY R | Gift | 11K | — |
| 2024-12-31 | Butterfield Shelby J | Gift | 4.5K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
- U.S. Department of Education
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-18 | 2026-05-14 | 0001258602-26-000035 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001258602-26-000033 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001258602-26-000032 ↗ |
| 8-K | 2026-04-30 | 2026-04-29 | 0001258602-26-000028 ↗ |
| 8-K | 2026-04-02 | 2026-03-31 | 0001258602-26-000023 ↗ |
| 8-K | 2026-03-23 | 2026-03-23 | 0001258602-26-000016 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001258602-26-000014 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001258602-26-000013 ↗ |
| 8-K | 2026-02-02 | 2026-02-02 | 0001258602-26-000006 ↗ |
| 8-K | 2026-01-30 | 2026-01-29 | 0001258602-26-000004 ↗ |
| 8-K | 2026-01-15 | 2026-01-15 | 0001258602-26-000002 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001258602-25-000063 ↗ |