Here are the 10-K annual reports from Nelnet, Inc. (NNI) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow NNI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NNI filings page.
Nelnet, Inc. provides a detailed look at its diversified education-focused and financial services businesses and key risks for the year ended December 31, 2025. The company services $486.2 billion of loans for 13.2 million borrowers and holds a $7.6 billion FFELP loan portfolio, with 78.8% of total loans federally guaranteed. In February 2026, Nelnet expanded internationally by acquiring a Canadian student loan servicer for CAD $130.5 million (USD $95.7 million). The Department of Education remains its largest customer, contributing 21% of total revenue and 68% of Loan Servicing and Systems revenue in 2025. Nelnet also emphasizes growth in education technology and payments, private education and consumer lending through Nelnet Bank, and renewable energy tax equity investments, while highlighting substantial risks from interest rates, credit performance, regulation, and reduced solar tax incentives.