Nelnet, Inc. Financial Ratios — NNI Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	20.71	15.95	23.2	19.41	14.85	13.01	8.22	10.23	6.05	14.05	14.09	13.23	2.78	5.57	12.18
Return on Assets (%)	0.79	0.68	1.11	1.06	0.89	0.89	0.68	0.93	0.58	1.52	1.77	1.98	0.5	1.21	3.08
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	0.5	1.13	1.08	0.9	0.91	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	15.58	48.66	66.13	69.19	67.34	64.72	19.33	18.28	19.69	19.04	10.66	12.71	15.01	11.37	6.71
Operating Margin (%)	- -	30.73	56.48	56.26	52.03	49.51	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	415.2	-1,544.78	153.45	38.22	186.77	769.2	431.17	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	48.45	42.15	56.48	56.26	52.03	49.51	31.79	28.33	18.06	43.21	40.44	36.19	7.1	19.6	38.96
Profit Margin (%)	30.77	27.33	36.72	36.86	33.15	31.87	24.28	22.56	14.49	33.81	31.68	29.34	9.28	15.78	31.71
Net Income to Common Margin (%)	30.77	27.33	36.72	36.86	33.15	31.87	24.28	22.56	14.49	33.81	31.68	29.34	9.28	15.78	31.71
Effective Tax Rate (%)	36.5	35	34.63	34.13	36.23	35.43	28.61	20.53	20.06	22.39	23.07	22.54	28.21	23.04	24.32
Dvd Payout Ratio (%)	8.69	37.03	6.07	5.96	7.08	8.2	16.01	11.82	20.94	9.16	9.08	9.88	446.22	24.34	11.68
Sustainable Growth Rate (%)	18.91	10.05	21.8	18.26	13.8	11.95	6.91	9.02	4.78	12.76	12.81	11.93	-9.64	4.22	10.76

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	24,435	25,099	25,955	28,027	28,106	24,668	21,357	22,219	20,529	19,321	17,147	14,070	11,620	8,310	7,781
ST Debt	889	1,609	1,441	1,242	1,956	1,677	346	1,297	945	553	117	1,132	1,422	943	982
LT Debt	23,546	23,490	24,514	26,786	26,150	22,991	21,011	20,922	19,584	18,767	17,030	12,938	10,198	7,367	6,799
Total Debt/EBITDA	236.15	79.21	47.62	48.53	51.63	47.32	154.96	120.31	106.55	97.35	129.58	79.83	79.92	62.7	85.86
Net Debt/EBITDA	235.73	79	47.51	48.31	51.51	47.18	154.47	119.65	105.86	96.74	128.64	79.16	78.77	61.23	82.6
Total Debt/EBIT	- -	125.43	55.75	59.69	66.82	61.85	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	125.1	55.62	59.42	66.67	61.68	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.12	4.38	5.2	5.73	6.19	7.58	8.97	9.14	10.07	11.62	13.61	16.51	19.47	24.31	26.21
Long-Term Debt/Equity (%)	2,208.37	2,015.91	1,697.65	1,552.18	1,382.02	1,110.18	970.29	903.84	819.06	714.04	576.74	404.31	318.68	223.29	190.06
Long-Term Debt/Capital (%)	92.33	89.44	89.47	90.03	87.17	85.98	89.32	85.28	85.45	85.5	84.73	74.91	68.81	63.46	59.86
Long-Term Debt/Total Assets (%)	91.08	88.28	88.27	88.99	85.97	84.55	87.67	82.95	82.6	82.87	78.56	66.78	61.02	53.47	48.34
Total Debt/Equity (%)	2,291.73	2,154.01	1,797.47	1,624.14	1,485.39	1,191.18	986.27	959.86	858.56	735.09	580.7	439.7	363.12	251.88	217.51
Total Debt/Capital (%)	95.82	95.56	94.73	94.2	93.69	92.26	90.79	90.56	89.57	88.03	85.31	81.47	78.41	71.58	68.51
Total Debt/Total Assets (%)	94.52	94.33	93.46	93.12	92.4	90.72	89.12	88.1	86.59	85.32	79.1	72.62	69.53	60.31	55.33
Net Debt to Equity	2,287.74	2,148.35	1,793.09	1,616.57	1,482.03	1,187.82	983.19	954.62	852.96	730.48	576.45	436.01	357.87	245.98	209.24
Net Debt/Capital (%)	95.81	95.55	94.72	94.17	93.68	92.23	90.77	90.52	89.51	87.96	85.22	81.34	78.16	71.1	67.66
EBITDA	103	317	545	577	544	521	138	185	193	198	132	176	145	133	91
EBITDA-CapEx	89	307	528	551	528	454	-18	60	100	85	73	117	71	112	64
Operating Income (Loss)	- -	200	466	470	421	399	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	4.12	4.38	5.2	5.73	6.19	7.58	8.97	9.14	10.07	11.62	13.61	16.51	19.47	24.31	26.21
Long-Term Debt/Equity (%)	2,208.37	2,015.91	1,697.65	1,552.18	1,382.02	1,110.18	970.29	903.84	819.06	714.04	576.74	404.31	318.68	223.29	190.06
Long-Term Debt/Capital (%)	92.33	89.44	89.47	90.03	87.17	85.98	89.32	85.28	85.45	85.5	84.73	74.91	68.81	63.46	59.86
Long-Term Debt/Total Assets (%)	91.08	88.28	88.27	88.99	85.97	84.55	87.67	82.95	82.6	82.87	78.56	66.78	61.02	53.47	48.34
Total Debt/Equity (%)	2,291.73	2,154.01	1,797.47	1,624.14	1,485.39	1,191.18	986.27	959.86	858.56	735.09	580.7	439.7	363.12	251.88	217.51
Total Debt/Capital (%)	95.82	95.56	94.73	94.2	93.69	92.26	90.79	90.56	89.57	88.03	85.31	81.47	78.41	71.58	68.51
Total Debt/Total Assets (%)	94.52	94.33	93.46	93.12	92.4	90.72	89.12	88.1	86.59	85.32	79.1	72.62	69.53	60.31	55.33
CFO/Total Liabilities	1.25	1.18	1.47	1.26	1.37	1.19	1.48	1.18	1.4	1.74	2.57	4.22	3.2	6.33	4.03
CFO/CapEx	21.94	30.1	22.76	13.49	23.35	4.44	2.07	2.17	3.23	3.08	8.15	11.5	5.83	31.71	16.12
Altman's Z-Score	0.11	0.14	0.2	0.2	0.19	0.24	0.22	0.22	0.25	0.29	0.37	0.43	0.48	0.65	0.74

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	1.79	1.75	2.22	2.16	1.93	1.85	1.58	1.67	2.29	10.87	10.36	7.74	4.95	6.55	7.65
Days Sales Outstanding	204.12	208.29	164.26	168.98	189.02	197.18	231.22	218.01	159.31	33.58	35.24	47.13	73.69	55.74	47.73
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	1,153	1,389	1,954	2,142	1,476	2,137	2,236	2,107	2,314	2,732	3,704	3,370	3,270	3,876	4,770
- Cash & Cash Equivalents	43	66	63	130	64	70	67	121	134	121	126	118	168	195	296
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	8	9	16	10	4	-4	2	1	-54	-51	-109
+ Total Debt	24,435	25,099	25,955	28,027	28,106	24,668	21,357	22,219	20,529	19,321	17,147	14,070	11,620	8,310	7,781
Enterprise Value	25,545	26,349	27,666	29,902	29,384	26,641	23,464	24,162	22,661	21,579	19,797	15,933	13,730	10,957	11,017
Total Capital	25,501	26,264	27,399	29,753	29,998	26,739	23,522	24,534	22,920	21,949	20,100	17,270	14,820	11,609	11,358
Total Debt/Capital (%)	95.82	95.56	94.73	94.2	93.69	92.26	90.79	90.56	89.57	88.03	85.31	81.47	78.41	71.58	68.51
Total Debt / EV	0.96	0.95	0.94	0.94	0.96	0.93	0.91	0.92	0.91	0.9	0.87	0.88	0.85	0.76	0.71
EV/Sales	38.46	40.46	33.57	35.83	36.35	33.07	32.9	23.91	23.16	20.7	15.95	11.49	14.18	9.4	8.15
EV/EBITDA	246.88	83.15	50.76	51.78	53.98	51.1	170.25	130.83	117.62	108.73	149.61	90.4	94.44	82.68	121.57
EV/EBIT	- -	131.68	59.43	63.69	69.85	66.8	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	82.18	88.03	71.45	83.65	75.08	88.75	72.81	89.19	75.81	61.81	41.22	23.33	31.78	16.53	26.05
EV/Free Cash Flow to Firm	78.59	85.2	68.45	77.88	72	72.44	49.06	61.03	57.89	46.67	36.71	21.46	27.13	16.02	24.53
Diluted Market Cap	1,178	1,411	1,962	2,153	1,528	2,165	2,289	2,141	2,332	2,783	3,768	3,412	3,301	3,914	4,832
Diluted Enterprise Value	25,570	26,444	27,855	30,050	29,579	26,774	23,595	24,249	22,732	21,978	20,791	17,365	14,699	11,978	12,208
EV per Share	541.92	565.27	596.54	646.62	668.52	632.73	574.96	600.17	570.37	562.71	522.13	429.12	370.45	301.91	307.09
TTM Sales	664	651	824	835	808	806	713	1,010	978	1,043	1,242	1,387	968	1,166	1,351
TTM EBITDA	103	317	545	577	544	521	138	185	193	198	132	176	145	133	91
TTM Operating Income	- -	200	466	470	421	399	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	311	299	387	357	391	300	322	271	299	349	480	683	432	663	423
TTM Free Cash Flow to Firm	325	309	404	384	408	368	478	396	391	462	539	742	506	684	449

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	3.63	4.56	4.86	5.61	3.74	5.89	4.79	5.41	5.96	6.02	6.99	4.6	6.52	5.72	10.76
EV/EBIT	- -	131.68	59.43	63.69	69.85	66.8	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	25,545	26,349	27,666	29,902	29,384	26,641	23,464	24,162	22,661	21,579	19,797	15,933	13,730	10,957	11,017
Low Price	16.5	21.49	28.85	34.86	30.55	27.8	38.72	47.59	51.19	36.7	67.93	72.94	81.67	82.22	98.15
EV/Sales	38.46	40.46	33.57	35.83	36.35	33.07	32.9	23.91	23.16	20.7	15.95	11.49	14.18	9.4	8.15
EV/EBITDA	246.88	83.15	50.76	51.78	53.98	51.1	170.25	130.83	117.62	108.73	149.61	90.4	94.44	82.68	121.57
Price/Earnings	5.77	7.93	6.48	7	5.7	8.43	13.22	9.39	16.45	7.9	9.58	8.39	36.75	21.27	11.28
Price/Earnings Average	5.05	6.62	5.73	6.38	6.91	6.47	11.67	10.02	16.81	6.36	7.69	8.02	38.38	20.33	10.19
Price/Earnings High	5.83	7.98	7	7.33	8.29	9.14	14.4	11.49	19.76	8.19	9.79	9.19	42.32	25.35	11.95
Price/Earnings Low	3.89	5.72	4.44	5.27	5.19	4.62	9.34	8.54	14.46	4.07	6.66	6.74	34.02	16.37	8.32
Price/Book Value	1.08	1.19	1.35	1.24	0.78	1.04	1.04	0.91	0.97	1.04	1.25	1.05	1	1.16	1.29
Price/Book Value Average	0.95	0.99	1.2	1.13	0.95	0.79	0.92	0.98	0.99	0.84	1.01	1.01	1.05	1.11	1.17
Price/Book Value High	1.09	1.2	1.46	1.3	1.14	1.12	1.13	1.12	1.16	1.08	1.28	1.15	1.16	1.38	1.37
Price/Book Value Low	0.73	0.86	0.93	0.93	0.71	0.57	0.74	0.83	0.85	0.53	0.87	0.85	0.93	0.89	0.96
Price/Tangible Book Value	1.25	1.34	1.48	1.38	0.87	1.14	1.13	1.04	1.08	1.13	1.34	1.14	1.07	1.23	1.36
Price/Tangible Book Value Average	1.1	1.12	1.31	1.26	1.06	0.88	1	1.11	1.1	0.91	1.08	1.09	1.12	1.17	1.23
Price/Tangible Book Value High	1.27	1.35	1.6	1.44	1.27	1.24	1.23	1.27	1.29	1.17	1.37	1.25	1.23	1.46	1.44
Price/Tangible Book Value Low	0.84	0.96	1.01	1.04	0.8	0.63	0.8	0.94	0.95	0.58	0.93	0.92	0.99	0.95	1.01
Price/Sales	1.77	2.17	2.38	2.58	1.89	2.69	3.21	2.12	2.38	2.67	3.03	2.46	3.41	3.36	3.58
Price/Sales Average	1.55	1.81	2.1	2.35	2.29	2.06	2.83	2.26	2.44	2.15	2.44	2.35	3.56	3.21	3.23
Price/Sales High	1.79	2.18	2.57	2.7	2.75	2.91	3.5	2.59	2.86	2.77	3.1	2.7	3.93	4	3.79
Price/Sales Low	1.2	1.56	1.63	1.94	1.72	1.47	2.27	1.93	2.1	1.37	2.11	1.98	3.16	2.58	2.64
Price/Cash Flow	3.79	4.71	5.07	6.02	3.91	7.21	7.1	7.9	7.8	7.97	7.84	5	7.64	5.9	11.42
Price/Cash Flow Average	3.32	3.93	4.48	5.49	4.73	5.53	6.27	8.43	7.97	6.43	6.3	4.77	7.98	5.64	10.32
Price/Cash Flow High	3.83	4.74	5.47	6.31	5.68	7.82	7.74	9.67	9.37	8.27	8.01	5.48	8.8	7.04	12.1
Price/Cash Flow Low	2.56	3.4	3.47	4.53	3.55	3.95	5.02	7.19	6.86	4.11	5.46	4.02	7.07	4.54	8.43
Price/Free Cash Flow Average	3.18	3.81	4.29	5.11	4.54	4.52	4.22	5.77	6.09	4.85	5.61	4.39	6.81	5.47	9.71
Price/Free Cash Flow High	3.67	4.59	5.24	5.87	5.44	6.38	5.21	6.61	7.16	6.24	7.14	5.04	7.51	6.82	11.4
Price/Free Cash Flow Low	2.44	3.29	3.32	4.22	3.41	3.23	3.38	4.92	5.24	3.1	4.86	3.69	6.04	4.41	7.94
EV/Sales Average	38.25	40.22	33.51	35.77	36.91	32.58	32.64	24.1	23.27	20.52	16.11	12.38	15.3	10.09	8.65
EV/Sales High	38.48	40.59	33.98	36.11	37.35	33.42	33.29	24.43	23.69	21.13	16.76	12.73	15.66	10.88	9.2
EV/Sales Low	37.9	39.98	33.04	35.36	36.36	32	32.09	23.78	22.93	19.76	15.79	12.01	14.9	9.48	8.07
EV/EBITDA Average	245.5	82.66	50.67	51.69	54.81	50.34	168.9	131.88	118.16	107.81	151.12	97.44	101.88	88.81	128.94
EV/EBITDA High	247.01	83.41	51.38	52.19	55.47	51.64	172.26	133.66	120.31	111	157.24	100.12	104.3	95.72	137.17
EV/EBITDA Low	243.25	82.16	49.96	51.1	53.99	49.44	166.05	130.08	116.44	103.81	148.11	94.53	99.22	83.37	120.25
EV/EBIT Average	- -	130.9	59.33	63.58	70.93	65.81	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	132.09	60.15	64.2	71.78	67.51	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	130.11	58.49	62.85	69.88	64.64	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	24.47	29.79	42.14	46.33	33.57	50.75	54.78	52.34	58.24	71.24	97.68	90.75	88.22	106.81	132.96
High Price	24.75	29.98	45.49	48.52	48.8	55.01	59.68	64	69.97	73.92	99.79	99.49	101.6	127.32	140.87
Enterprise Value Average	25,402	26,192	27,618	29,851	29,837	26,247	23,278	24,355	22,764	21,398	19,997	17,173	14,813	11,770	11,685
Enterprise Value High	25,559	26,430	28,002	30,141	30,195	26,924	23,741	24,684	23,179	22,031	20,807	17,647	15,164	12,686	12,430
Enterprise Value Low	25,170	26,035	27,230	29,509	29,393	25,779	22,886	24,024	22,433	20,603	19,599	16,661	14,425	11,049	10,898

Shares Outstanding	47	47	46	46	44	42	41	40	40	38	38	37	37	36	36
Diluted Weighted Avg Shares	48	47	47	46	46	43	42	41	40	39	39	38	37	37	36
Basic Weighted Avg Shares	48	47	47	46	46	43	42	41	40	39	39	38	37	37	36
Revenue per Share	13.79	13.75	17.7	17.96	17.76	18.88	17.06	24.7	24.43	26.69	32.19	36.88	25.88	31.82	37.18
EBITDA per Share	2.15	6.69	11.7	12.43	11.96	12.22	3.3	4.51	4.81	5.08	3.43	4.69	3.89	3.62	2.49
Operating Income per Share	- -	4.22	10	10.1	9.24	9.35	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	4.24	3.76	6.5	6.62	5.89	6.02	4.14	5.57	3.54	9.02	10.2	10.82	2.4	5.02	11.79
Basic EPS from Cont Ops	4.24	3.77	6.54	6.66	5.89	6.03	3.87	5.56	3.53	8.95	10.01	10.34	1.32	4.8	10.96
Diluted EPS, GAAP	4.24	3.76	6.5	6.62	5.89	6.02	4.14	5.57	3.54	9.02	10.2	10.82	2.4	5.02	11.79
Diluted EPS from Cont Ops	4.24	3.77	6.54	6.66	5.89	6.03	3.87	5.56	3.53	8.95	10.01	10.34	1.32	4.8	10.96
Dividend per Share	0.37	1.4	0.4	0.4	0.42	0.5	0.58	0.66	0.74	0.81	0.89	0.97	1.05	1.11	1.18
Cash Flow per Share	6.46	6.32	8.31	7.69	8.6	7.04	7.71	6.62	7.46	8.94	12.45	18.17	11.55	18.09	11.64
Free Cash Flow per Basic Share	6.16	6.11	7.95	7.12	8.23	5.45	3.98	3.57	5.15	6.04	10.92	16.58	9.57	17.52	10.92
Cash & Equivalents per Share	0.9	2.98	5.27	5.8	4.68	4.12	3.52	4.33	4.7	12.25	27.83	40.59	29.84	32.47	39.72
Book Value per Share	22.62	25	31.13	37.31	42.87	48.96	52.67	57.24	60.07	68.63	77.83	86.16	87.79	92.3	102.74
Tangible Book Value per Share	19.53	22.28	28.47	33.66	38.39	44.33	48.33	50.51	54.07	62.97	72.72	79.68	82.32	86.94	97.51

Nelnet, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)