Nelnet, Inc. (NNI) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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NNI Revenue Growth
Revenue Breakdown (FY 2025)
NNI's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
NNI Revenue Analysis (2014–2025)
As of May 7, 2026, Nelnet, Inc. (NNI) generated trailing twelve-month (TTM) revenue of $1.80 billion, reflecting significant decline in growth of -48.1% year-over-year. The most recent quarter (Q4 2025) recorded $225.4 million in revenue, down 54.4% sequentially.
Looking at the longer-term picture, NNI's 5-year compound annual growth rate (CAGR) stands at -9.8%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $1.85 billion in 2024.
Revenue diversification analysis shows NNI's business is primarily driven by Loan Servicing And Systems Revenue (31%), Education Technology Services And Payment Processing Services (31%), and Payment Processing (12%).
When compared to Financial Services sector peers including SLM, NAVI, and WRLD. Compare NNI vs SLM →
NNI Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NNICurrent | $1.8B | -48.1% | -9.8% | - | |
 SLM | $3.1B | - | - | 31.9% | |
 NAVI | $3.2B | - | - | 77.1% | |
 WRLD | $565M | - | - | 28.1% | |
 ENVA | $3.2B | - | - | 23.5% | |
 PFSI | $4.4B | - | - | 34.6% |
NNI Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $821.7M | - | $0 | - | $0 | - |
| 2024 | $1.85B | - | $1.11B | 60.2% | $228.6M | 12.4% |
| 2023 | $1.81B | - | $961.1M | 53.0% | $68.7M | 3.8% |
| 2022 | $1.82B | - | $1.35B | 74.4% | $501.8M | 27.6% |
| 2021 | $1.42B | - | $1.25B | 88.4% | $502.1M | 35.4% |
| 2020 | $1.37B | - | $979.2M | 71.3% | $450.5M | 32.8% |
| 2019 | $1.68B | - | $939.4M | 56.0% | $176.7M | 10.5% |
| 2018 | $1.68B | - | $987.4M | 58.8% | $286.3M | 17.0% |
| 2017 | $1.18B | - | $698.6M | 59.3% | $226.7M | 19.2% |
| 2016 | $1.19B | - | $792.1M | 66.4% | $398.8M | 33.4% |
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Start ComparisonNNI — Frequently Asked Questions
Quick answers to the most common questions about buying NNI stock.
Is NNI's revenue growth accelerating or slowing?
NNI revenue declined -48.1% year-over-year, contrasting with the 5-year CAGR of -9.8%. TTM revenue fell to $1.8B. This reverses the prior growth trend.
What is NNI's long-term revenue growth rate?
Nelnet, Inc.'s 5-year revenue CAGR of -9.8% reflects the variable expansion pattern. Current YoY growth of -48.1% is below this long-term average.
How is NNI's revenue distributed by segment?
NNI reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.