← NELNET INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) attributable to Nelnet, Inc. | $256.8m | $173.2m | $227.9m | $141.8m | $352.4m | $393.3m | $407.3m | $91.5m | $184.0m | $428.5m | — | |
| Net income | $257.5m |
$161.8m
-37.16%
|
$227.5m
+40.60%
|
$141.3m
-37.90%
|
$349.6m
+147.45%
|
$386.3m
+10.48%
|
$396.2m
+2.58%
|
$54.4m
-86.26%
|
$175.9m
+223.17%
|
$398.3m
+126.44%
|
$240.4m
-39.64%
|
|
| Net loss attributable to noncontrolling interests | $750k | $11.3m | $389k | ($509k) | ($2.8m) | ($7.0m) | ($11.1m) | ($37.1m) | ($8.1m) | ($30.1m) | — | |
| Depreciation and amortization, including debt discounts and loan premiums and deferred origination costs | $122.5m | $137.8m | $184.7m | $192.7m | $198.5m | $132.3m | $176.2m | $145.4m | $132.5m | $90.6m | $81.1m | |
| Deferred income tax benefit | $27.0m | ($1.5m) | $11.0m | ($7.3m) | $8.0m | $55.6m | $34.6m | ($52.0m) | ($21.6m) | ($4.3m) | $72.4m | |
| Impairment expense | $0 | $3.6m | $11.7m | $0 | — | $16.4m | $15.5m | $29.5m | $42.6m | $29.6m | — | |
| (Increase) decrease in accounts receivable | $7.5m | ($12.0m) | $3.1m | ($55.9m) | $40.9m | ($87.0m) | ($26.4m) | ($1.4m) | $36.1m | ($33.4m) | ($24.3m) | |
| Decrease in loan and investment accrued interest receivable | ($7.4m) | ($39.2m) | ($248.9m) | ($54.6m) | ($61.1m) | $1.4m | ($38.5m) | $47.2m | $220.9m | $40.7m | — | |
| Decrease in accrued interest payable | $14.2m | $4.4m | $11.6m | ($14.4m) | ($18.6m) | ($24.1m) | $31.5m | ($658k) | ($14.5m) | ($4.9m) | — | |
| Other | $2.9m | $3.9m | $2.2m | ($2.6m) | $186k | $0 | $723k | $326k | $163k | $8.0m | — | |
| Decrease in other assets | ($2.2m) | ($34.5m) | ($4.1m) | ($11.1m) | $59.2m | $39.4m | ($11.3m) | $3.9m | $64.8m | $57.7m | — | |
| Increase in other liabilities | $2.4m | ($2.3m) | ($12.5m) | $40.4m | $35.9m | $29.8m | $40.0m | $85.5m | $27.4m | $51.8m | — | |
| Student loans and other assets acquired | $0 | — | — | — | — | — | $0 | $0 | $121.6m | $672.6m | — | |
| Borrowings and other liabilities assumed in acquisition of student loans | $0 | — | — | — | — | — | $0 | $0 | $54.7m | $706.5m | — | |
| Net cash provided by operating activities: | ||||||||||||
| Purchases of property and equipment | ($67.6m) | ($156.0m) | ($125.0m) | ($92.5m) | ($113.3m) | ($59.0m) | ($59.4m) | ($74.1m) | ($20.9m) | ($26.2m) | ($37.0m) | |
| (Gain) loss on investments, net | — | — | — | ($3.1m) | ($14.1m) | ($3.8m) | $24.6m | $118.0m | ($8.0m) | ($24.6m) | — | |
| Purchases of other investments and issuance of notes receivable | — | — | — | — | ($168.2m) | ($253.9m) | ($263.3m) | ($344.9m) | ($483.7m) | ($591.8m) | — | |
| Proceeds from other investments and repayments of notes receivable | — | — | — | $63.9m | $13.0m | $191.8m | $65.4m | $41.3m | $97.9m | $533.0m | — | |
| Purchases of held-to-maturity debt securities | — | — | — | $0 | $0 | ($8.2m) | ($240k) | ($12.4m) | $0 | ($295k) | — | |
| Redemption of held-to-maturity debt securities | — | — | — | — | $0 | $0 | $3.5m | $4.6m | $24.8m | $11.4m | — | |
| Net cash provided by investing activities | $3.3b | $3.3b | ($732.4m) | $1.5b | $621.2m | $1.2b | $2.3b | $1.9b | $2.4b | $356.4m | ($388.3m) | |
| Payments of debt issuance costs | ($5.8m) | ($6.5m) | ($13.8m) | ($14.4m) | ($8.7m) | ($7.1m) | ($3.8m) | ($5.7m) | ($2.3m) | ($7.8m) | — | |
| Repurchases of common stock | ($69.1m) | ($68.9m) | ($45.3m) | ($40.4m) | ($73.4m) | ($58.1m) | ($97.7m) | ($28.0m) | ($83.3m) | ($69.3m) | — | |
| Proceeds from issuance of common stock | $889k | $678k | $1.4m | $1.6m | $1.7m | $1.5m | $1.6m | $1.8m | $1.9m | $1.9m | $1.9m | |
| Dividends paid | ($21.2m) | ($24.1m) | ($26.8m) | ($29.5m) | ($31.8m) | ($34.5m) | ($36.6m) | ($39.4m) | ($40.8m) | ($43.0m) | ($46.3m) | |
| Net cash used in financing activities | ($3.6b) |
($3.5b)
+2.18%
|
$711.8m
+120.33%
|
($1.8b)
-351.94%
|
($1.1b)
+38.76%
|
($1.5b)
-36.12%
|
($2.8b)
-86.80%
|
($2.7b)
+3.20%
|
($3.2b)
-17.26%
|
($737.1m)
+76.74%
|
$165.5m
+122.46%
|
|
| Net (decrease) increase in cash, cash equivalents, and restricted cash | $129.4m | ($228.3m) | $250.3m | $30.2m | ($264.2m) | $235.8m | $163.4m | ($332.1m) | ($94.5m) | $42.5m | — | |
| Cash, cash equivalents, and restricted cash, beginning of period | $1.2b | $942.1m | $1.2b | $1.2b | $958.4m | $1.2b | $1.4b | $1.0b | $931.0m | $973.5m | — | |
| Effect of exchange rate changes on cash and restricted cash | — | — | — | $0 | $0 | ($121k) | ($160k) | $16k | ($437k) | $275k | ($13.8m) | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Loan discount and deferred lender fees accretion | — | — | — | — | — | — | ($67.5m) | ($30.8m) | ($54.1m) | ($107.3m) | — | |
| Provision for loan losses | $13.5m | $14.4m | $23.0m | $39.0m | $63.4m | ($12.4m) | $46.4m | $65.5m | $54.6m | $67.9m | — | |
| Provision for beneficial interests | — | — | — | — | — | — | — | $0 | $39.5m | $11.3m | — | |
| Derivative market value adjustments | ($59.9m) | ($26.4m) | ($1.0m) | $76.2m | $28.1m | ($92.8m) | ($231.7m) | $41.8m | ($10.1m) | $9.1m | — | |
| Proceeds from termination of derivative instruments | — | — | — | ($12.5m) | $0 | $0 | $91.8m | $164.1m | $0 | $0 | — | |
| (Payments to) proceeds from clearinghouse - initial and variation margin, net | $0 | $76.3m | $40.4m | ($70.7m) | ($26.7m) | $91.3m | $148.7m | ($213.9m) | $2.4m | ($5.9m) | — | |
| Gain on partial redemption of ALLO investment | — | — | — | — | — | — | — | $0 | $0 | ($175.0m) | — | |
| Loss on sale of loans, net | $0 | $0 | $0 | ($17.3m) | ($33.0m) | ($18.7m) | ($2.9m) | ($39.7m) | $1.6m | $1.7m | — | |
| Non-cash compensation expense | $4.3m | $4.4m | $6.5m | $6.8m | $16.7m | $10.7m | $14.2m | $16.5m | $12.0m | $13.3m | — | |
| Decrease in the carrying amount of ROU asset | — | — | $0 | $8.8m | $11.6m | $7.2m | $5.7m | $4.9m | $3.9m | $3.7m | — | |
| Decrease in the carrying amount of lease liability | — | — | $0 | ($8.7m) | ($9.4m) | ($7.0m) | ($5.6m) | ($5.4m) | ($3.8m) | ($5.4m) | — | |
| Total adjustments | — | — | — | — | — | — | $294.3m | $382.7m | $487.0m | $24.6m | — | |
| Purchases of loans | ($349.1m) | ($325.5m) | ($3.8b) | ($2.0b) | ($1.5b) | ($1.3b) | ($1.5b) | ($735.0m) | ($973.9m) | ($6.0b) | — | |
| Net proceeds from loan repayments, claims, and capitalized interest | $3.7b | $3.4b | $3.3b | $3.5b | $2.6b | $3.1b | $4.4b | $2.6b | $3.2b | $5.4b | — | |
| Proceeds from sale of loans | $44.8m | $53.2m | $23.7m | $196.6m | $136.1m | $85.9m | $123.1m | $553.0m | $694.2m | $1.2b | — | |
| Purchases of available-for-sale securities | ($94.7m) | ($128.5m) | ($46.4m) | ($1.0m) | ($471.5m) | ($734.8m) | ($1.0b) | ($581.5m) | ($603.6m) | ($552.9m) | — | |
| Proceeds from sales of available-for-sale securities | $144.3m | $156.5m | $71.4m | $105k | $173.8m | $161.0m | $511.1m | $963.1m | $445.9m | $289.0m | — | |
| Proceeds from beneficial interest in loan securitizations | — | — | $0 | $6.6m | $44.2m | $40.6m | $21.5m | $32.1m | $52.2m | $77.5m | — | |
| Payments on bonds and notes payable | ($4.1b) | ($5.4b) | ($3.1b) | ($4.7b) | ($3.1b) | ($3.7b) | ($4.3b) | ($3.6b) | ($3.6b) | ($2.6b) | — | |
| Proceeds from issuance of bonds and notes payable | $650.9m | $2.0b | $3.9b | $3.0b | $1.9b | $1.9b | $1.3b | $761.2m | $30.7m | $1.4b | — | |
| Increase in bank deposits, net | — | — | $0 | $0 | $54.6m | $289.7m | $347.0m | $52.3m | $442.5m | $483.0m | — | |
| (Decrease) increase in due to customers | ($25.1m) | $67.4m | $59.4m | $68.1m | ($136.3m) | $64.5m | ($17.7m) | $77.2m | $53.0m | ($20.7m) | — | |
| Acquisition of noncontrolling interest | $0 | $0 | ($13.4m) | $0 | ($600k) | $0 | $0 | $0 | ($325k) | ($3.9m) | — | |
| Issuance of noncontrolling interests | $1.2m | $19.5m | $918k | $4.7m | $205.8m | $10.4m | $11.2m | $12.8m | $5.1m | $52.2m | — | |
| Distribution to noncontrolling interests | ($572k) | ($1.6m) | ($525k) | $3.9m | ($1.1m) | $47.9m | $53.0m | $101.1m | $69.8m | $220.1m | — | |
| Cash disbursements made for interest | $301.1m | $390.3m | $591.4m | $657.4m | $301.6m | $152.2m | $350.7m | $781.3m | $651.5m | $472.3m | — | |
| Cash disbursements made for income taxes, net of refunds and credits received | $115.4m | $96.7m | $473k | $17.7m | $29.7m | $18.7m | $57.7m | $47.6m | $15.2m | $68.9m | — | |
| Cash disbursements made for operating leases | $325.3m | $227.5m | $0 | $10.0m | $11.5m | $8.0m | $6.8m | $6.5m | $4.8m | $5.2m | $401.1m | |
| ROU assets obtained in exchange for lease obligations | — | — | $0 | $8.7m | $4.3m | $4.2m | $7.7m | $18.9m | $1.3m | $6.6m | — | |
| Receipt of beneficial interest in consumer loan securitizations as consideration from sale of loans | — | $0 | $0 | $39.8m | $52.5m | $23.5m | $19.1m | $89.1m | $12.5m | $28.1m | — | |
| Receipt of asset-backed investment securities as consideration from sale of loans | — | — | — | — | — | $0 | $13.8m | $66.5m | $10.0m | $2.4m | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.