Nelnet, Inc (NNI) Fair Value & Analysis
Financial Services · US · Market cap $4.8B
Nelnet, Inc
NNI · US
Fair value as of: Jul 18, 2026
From 13 valuation models · updated 23 days ago
Fair value updated Jul 18, 2026, revised from $108.92 to $109.72 (+0.7%) since Jul 7, 2026. Share price −0.3% over the past month.
A solid business, but screening 17% overvalued on our models.
What matters now
- Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($92.87 to $191.66) leaves room in how you read the outcome.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range $68.95 – $143.87 · fair‑value band $92.87 – $191.66 · the $131.46 price screens above the $109.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Nelnet, Inc (NNI) currently trades at $131.46, while our model-based Fair Value estimate is $109.72, implying the stock looks roughly 16.5% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Nelnet, Inc generated revenue of $1.6B at a net margin of 25.3%. Revenue declined 7.1% year over year. It earns a return on equity of 10.7%. Net debt stands at $6.8B. Fundamentals as of Jul 18, 2026
Our scenario range runs from $92.87 (bear case) to $191.66 (bull case); at $131.46, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 18% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -41% fair-value upside, at -17%, NNI screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 13 models by family
Widest divergence: Multiples ($142.04) versus DCF Models ($9.29). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 53
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Nelnet, Inc. engages in loan servicing, education technology services, and payment businesses worldwide. The company operates through four segments: Loan Servicing and Systems, Education Technology Services and Payments, Asset Generation and Management, and Nelnet Bank.
Full company description
Nelnet, Inc. engages in loan servicing, education technology services, and payment businesses worldwide. The company operates through four segments: Loan Servicing and Systems, Education Technology Services and Payments, Asset Generation and Management, and Nelnet Bank. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer, payment processing, due diligence procedures, funds management reconciliation, and claim processing services. This segment also offers student loan servicing software; and business process outsourcing services primarily in contact center management, such as inbound calls, outreach campaigns and sales, and interacting with customers through multi-channels, and processing and administrative services. The Education Technology Services and Payments segment provides financial management services; school information system software; a donation platform; education technology solutions; and customized professional development and coaching, and advanced learning and educational instruction services. This segment also offers tuition payment plans, and service and technology for student billings, payments, and refunds; solutions for in-person, online, and mobile payment experiences on campus; payment processing services, such as credit card and electronic transfer; learning management system; an integrated commerce payment platform; and a school management platform that provides administrative, information and financial management, and communication functions for K-12 schools. The Asset Generation and Management segment invest, allocates an manages loan assts. The Nelnet Bank segment operates as an internet industrial bank. It also offers investment advisory, investment, and reinsurance services, as well as engages in the real estate investment; and solar engineering, procurement, and construction businesses. The company was founded in 1977 and is headquartered in Lincoln, Nebraska.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Nelnet, Inc reported revenue of $2.3B in FY2025 versus $1.4B in FY2021, a compound +12.4%/yr. Reported net income was $428M in FY2025, compounding +2.2%/yr from FY2021.
NNI screens 17% overvalued. Compare with Visa Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- 3 Reasons to Sell NNI and 1 Stock to Buy Instead
- Winners And Losers Of Q1: Nelnet (NYSE:NNI) Vs The Rest Of The Consumer Finance Stocks
- Nelnet Campus Commerce Announces Partnership with Atrium Campus to Expand the Connected Campus Experience
- Nelnet Bank Steps Up for Graduate Students Facing New Borrowing Challenges
Peer Group
Credit Services · 333 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Credit Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Credit Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Visa Inc V | $348.97 | $204.19 | -41% |
| Mastercard Incorporated MA | $537.70 | $221.87 | -59% |
| American Express Company AXP | $358.44 | $206.40 | -42% |
| Bajaj Finance Limited BAJFINANCE | ₹1,056 | ₹397.61 | -62% |
| Shriram Finance Limited SHRIRAMFIN | ₹1,024 | ₹553.83 | -46% |
| Cholamandalam Investment and Finance Company CHOLAFIN | ₹1,808 | ₹796.52 | -56% |
| Tata Capital Limited TATACAP | ₹360.60 | ₹229.85 | -36% |
| Power Finance Corporation PFC | ₹405.10 | ₹810.20 | +100% |
| Muthoot Finance Limited MUTHOOTFIN | ₹3,129 | ₹3,463 | +11% |
| Indian Railway Finance Corporation IRFC | ₹88.41 | ₹69.72 | -21% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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