Nelnet Inc (NNI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Nelnet Inc $108, price $125, upside -13.6%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Nelnet Inc
NNI · USOvervalued / MonitorQuality is not strong enough to offset the price risk.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $69.18 – $143.87 · fair‑value band $82.77 – $191.66 · the $125.03 price screens above the $108.03 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
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.
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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.
Stock analysis
Nelnet Inc (NNI) currently trades at $125.03, while our model-based Fair Value estimate is $108.03, implying the stock looks roughly 15.7% overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $142.04 per share, and 4 of the 12 models we run sit above the $125.03 price.
Bear case: the Dividend Discount group reads lowest at $16.89, and 8 of the 12 models stay below the price. Evidence for this calculation is high.
Scenario range: $82.77 (bear) to $191.66 (bull), the price of $125.03 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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.
Key figures
Market cap $4.5B · P/E ratio 11.7 · P/S ratio 2.21 · EPS (TTM) $11.50 · Dividend yield 1.0% · Net margin 18.9% · Return on equity 10.7% · Return on assets (EBIT) 3.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −32% fair-value upside, at −14%, NNI screens cheaper than that median.
Fair Value models
All 13 models by family
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Set up alert →Quality Score breakdown
Of which business quality 59 · Market factors (momentum, volatility) 46
Revenue & earnings trend
Growth Forecast
NNI screens 16% overvalued. Compare with Visa Inc →
Recent news
- Nelnet Board of Directors Appoints Two New Members
- Nelnet Accessibility Services Now on Civic Marketplace
- Nelnet Campus Commerce and PayPal launch Digital Wallet Payments for Higher Education Tuition
- Nelnet (NYSE:NNI) Misses Q2 CY2026 Revenue Estimates
Compare Nelnet Inc with another stock
Price, fair value, quality and upside side by side.
Peer Groupⓘ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.Credit Services · 330 stocks
Valuation Multiplesvs Credit Services median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Credit Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Visa Inc V | $362.04 | $227.35 | −37% |
| Mastercard Incorporated MA | $555.89 | $356.78 | −36% |
| American Express Company AXP | $305.07 | $206.40 | −32% |
| Capital One Financial Corporation COF | $200.55 | $125.36 | −37% |
| Bajaj Finance Limited BAJFINANCE | ₹1,043 | ₹1,101 | +6% |
| PayPal Holdings PYPL | $52.89 | $99.46 | +88% |
| Affirm Holdings AFRM | $71.77 | $16.24 | −77% |
| Shriram Finance Limited SHRIRAMFIN | ₹1,011 | ₹1,374 | +36% |
| Synchrony Financial, SYF | $72.67 | $137.28 | +89% |
| SoFi Technologies, Inc SOFI | $17.16 | $5.57 | −68% |
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