# Nelnet, Inc. (NNI)

> Source: Nexqual · https://nexqual.com/NNI · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Nelnet, Inc. (NNI), nexqual.com/NNI" · informational, not investment advice.

**Price:** USD 121.88 (-0.71% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 122.75 · day 120.79–123.15 · 52w 116.62–144.38 · market cap $4.36B · NYQ

## Key facts
- Analysts: Hold (mean 3.00 on a 1–5 scale) (1 analysts), mean target USD 125 (range 125–125).
- Total return with dividends: 1Y -4.0% vs S&P 500 +13.6%; 5Y +55.7% vs S&P 500 +79.8%.
- Next earnings: 2026-11-05, EPS estimate USD 1.83, revenue estimate $427M.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 1 analysts; mean target USD 125 (low 125, high 125).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-06 | TD Cowen | Target lowered | Hold | $130 → $125 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -4.0% | +55.7% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -4.0% | +9.3% |
| Volatility (annualized) | 23.9% | 21.2% |
| Max drawdown | -15.3% (Apr 2026→May 2026) | -21.0% (Dec 2021→Jun 2022) |

## Peers (Credit Services)
SEZL (Sezzle Inc.) USD 130.02 +2.09% · ENVA (Enova International, Inc.) USD 179.82 +4.97% · KLAR (Klarna Group plc) USD 13.16 +3.70% · BFH (Bread Financial Holdings, Inc.) USD 104.73 +2.07% · SLM (SLM Corporation) USD 17.72 -5.59% · CACC (Credit Acceptance Corporation) USD 544.9 +0.44%

## More
Full page: https://nexqual.com/NNI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-08-06)

- "The increase was primarily driven by higher loan spreads 2 and growth in the company's consumer loan portfolio, partially offset by the anticipated runoff of the legacy FFELP portfolio."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.83 | $2.09 | -12.4% | $427.0M | 1 |
| Next quarter (ends 2026-12-31) | $1.78 | $1.99 | -10.6% | $413.0M | 1 |
| Current fiscal year (ends 2026-12-31) | $7.42 | $8.18 | -9.3% | $1.67B | 1 |
| Next fiscal year (ends 2027-12-31) | $8.50 | $9.58 | -11.3% | $1.77B | 1 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $1.77 | $2.13 | Miss −16.9% | — |
| — | Quarter ended Mar 31, 2026 | $1.94 | $2.66 | Miss −27.1% | — |
| — | Quarter ended Dec 31, 2025 | $1.56 | $1.63 | Miss −4.3% | — |
| — | Quarter ended Sep 30, 2025 | $2.95 | $1.52 | Beat +94.1% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-09-16 | 8-K | Director or executive officer change, or pay arrangement; Regulation FD disclosure — “Appointment of New Board Members On September 15, 2026, the Board of Directors (the "Board") of Nelnet, Inc. (the "Company"), upon the recommendation of the Board's Nominating and Corporate Governance Committee: increased the size of the Board from eight to ten members; increased the number of Class III members of the Board from three to four; increased the number of Class II members of the Board from two to three; appointed Angela Klein as a Class III member of the Board, to hold office for a term expiring at the…” | https://www.sec.gov/Archives/edgar/data/1258602/000125860226000045/0001258602-26-000045-index.htm |
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1258602/000125860226000042/0001258602-26-000042-index.htm |
| 2026-08-06 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1258602/000125860226000041/0001258602-26-000041-index.htm |
| 2026-07-30 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1258602/000125860226000037/0001258602-26-000037-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.