Nelnet Inc (N:NNI)
Business Focus: Consumer Lending
| Sector: Financials | Industry: Consumer Lending |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | STE 201, 121 SOUTH 13TH ST LINCOLN NE 68508 |
| Tel: | 1-402-4583038 |
| Website: | https://www.nelnet.com |
| IR: | See website |
| Key People | ||
| Michael Dunlap Executive Chairman of the Board | Timothy A. Tewes President | Jeffrey R. Noordhoek Chief Executive Officer |
| James D. Kruger Chief Financial Officer | Terry J. Heimes Chief Operating Officer | William J. Munn Corporate Secretary, Chief Governance Officer, General Counsel | Matthew W. Dunlap Chief Business Development Officer, Director |
| Business Overview |
| Nelnet, Inc. operates businesses that are engaged in loan servicing and education technology services and payments. The Company's segments include Loan Servicing and Systems (LSS), Education Technology Services and Payments (ETSP), Asset Generation and Management (AGM), and Nelnet Bank. The LSS segment is focused on student and consumer loan servicing, loan servicing-related technology solutions and outsourcing business services. This segment includes the brands Nelnet Diversified Solutions, Nelnet Government Services and others. The ETSP segment provides education and payment technology and services for K-12 schools, higher education institutions, churches, and businesses in the United States and internationally. The AGM segment includes the acquisition and management of student and other loan assets, including investment interests therein. The Nelnet Bank includes an Internet Utah-chartered industrial bank focused on the private education and unsecured consumer loan markets. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Nelnet Inc revenues increased 7% to $2.11B. Net income applicable to common stockholders decreased 78% to $89.6M. Revenues reflect Education Technology, Services, and Payment Processing segment increase of 17% to $486.2M, Asset generation and management segment increase of 5% to $1.01B. Net income was offset by G/L on Invest HFS, Maturity & Trading increase from $9.5M (income) to $55.3M (expense). |
| Employees: | 7,550 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $15,901M as of Dec 31, 2023 |
| Annual revenue (TTM): | $2,106M as of Dec 31, 2023 |
| EBITDA (TTM): | $368.22M as of Dec 31, 2023 |
| Net annual income (TTM): | $89.61M as of Dec 31, 2023 |
| Free cash flow (TTM): | $319.50M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $12,404M as of Dec 31, 2023 |
| Shares outstanding: | 36,839,296 as of Mar 25, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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