Nelnet, Inc.
Nelnet, Inc. is classed by the SEC under Personal Credit Institutions (industry code 6141), based in Lincoln, NE. Its latest filed balance sheet (2025-12-31) shows total assets of $14 billion (its filed statements).
vs its business-model standard
Three tenses, nine metrics. Unseen metrics stay unseen; the grade never fakes a number. Proxy era: provisional values, marked. Weighed as a lending business: prior from its industry code (SEC 6141, Personal Credit Institutions); the filing read can change it. All three tenses have at least two readings, so the archetype blend applies as printed.
The grade, in three tenses
Headline 5.4 out of ten, 9 of 9 metrics filed: past 5.6 out of ten, present 5.6 out of ten, future 4.8 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.
The nine metrics
- Surviving crises (past): 7.5 out of ten. No warning events in its filings since 2017. 75th percentile among 12 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
- Track record (past): 2.6 out of ten. +1.3% a year over 10 filed years; profitable in 10 of 10. 26th percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
- Shareholder treatment (past): 5.0 out of ten. Share count shrank 1.1% a year. 20% of cash flow returned. Insiders: 1 sales, 0 purchases. 50th percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
- Financial health (present): 4.4 out of ten. ROE 12%: 12¢ of profit per shareholder dollar. Leverage 75%: owes 75¢ per asset dollar. 44th percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
- Industry position (present): 5.0 out of ten. top 50% of 11 in its family; net margin 50.3%. 50th percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
- Leadership (present): 8.9 out of ten. top 11% of 11 in its family for leadership; chief executive since 2014. 89th percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
- Room to expand (future): 5.3 out of ten. top 47% of 11 in its family for room to expand. 53rd percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
- Growth drivers (future): 3.2 out of ten. bottom 32% of 11 in its family for growth drivers. 32nd percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
- Expectations vs reality (future): 5.9 out of ten. top 41% of 11 in its family for expectations against reality. 59th percentile among 11 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
The filing record
Newest annual report: Form 10-K filed 2026-02-26 for the period ended 2025-12-31 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-08-06 for the period ended 2026-06-30 (on EDGAR). Newest results release: Form 8-K filed 2026-08-06 (on EDGAR). Newest filing: Form 4, 2026-10-07. Filings on record since 2003. Read from EDGAR 2026-10-12.
Who runs it
Noordhoek, Jeffrey R (Chief Executive Officer); Dunlap, Michael S (Executive Chairman of Board); Dunlap, Matthew W (President, NFS); Popevis, Joseph Ernest (President, NDS); Tewes, Timothy (President); Kruger, James D (Chief Financial Officer); Heimes, Terry J (Chief Operating Officer); Munn, William J (Secy/Chief Legal Off/Gen Coun); Olinger, Emily (Chief People Services Officer); Wenger, Deeann (Pres, Nelnet Business Services); and 9 more. 19 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-10-07.
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