Nelnet annual free cash flow
2009
2010
2011
2012
2013
2014
2018
2019
2020
2021
2022
2023
2024
2025
Nelnet Free Cash Flow (FCF) History (NNI)
Nelnet reported $396.7M in free cash flow for fiscal 2025, a decrease of 38.20% from the previous fiscal year.
View full Nelnet company overviewNelnet free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $396.7M | −$245.2M | −38.20% | — |
| 2024 | 2024-12-31 | $642.0M | $284.0M | +79.34% | — |
| 2023 | 2023-12-31 | $358.0M | −$265.7M | −42.60% | — |
| 2022 | 2022-12-31 | $623.6M | $202.3M | +48.00% | +40.01% |
| 2021 | 2021-12-31 | $421.4M | $185.6M | +78.71% | +31.81% |
| 2020 | 2020-12-31 | $235.8M | $29.4M | +14.23% | +16.84% |
| 2019 | 2019-12-31 | $206.4M | $60.5M | +41.51% | +19.10% |
| 2018 | 2018-12-31 | $145.9M | −$185.1M | −55.93% | +13.57% |
| 2014 | 2014-12-31 | $331.0M | −$39.2M | −10.59% | — |
| 2013 | 2013-12-31 | $370.2M | $80.8M | +27.92% | — |
| 2012 | 2012-12-31 | $289.4M | −$7.3M | −2.47% | — |
| 2011 | 2011-12-31 | $296.7M | $114.6M | +62.93% | — |
| 2010 | 2010-12-31 | $182.1M | −$141.4M | −43.71% | +21.98% |
| 2009 | 2009-12-31 | $323.5M | — | — | +49.74% |
Nelnet quarterly free cash flow
Q3.10
Q1.11
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Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $71.6M | −$6.5M | −8.32% | — |
| Q1 2026 | 2026-03-31 | $61.6M | −$26.2M | −29.87% | — |
| Q4 2025 | 2025-12-31 | $130.1M | −$33.0M | −20.25% | — |
| Q3 2025 | 2025-09-30 | $100.8M | −$31.8M | −24.00% | — |
| Q2 2025 | 2025-06-30 | $78.1M | −$45.1M | −36.61% | — |
| Q1 2025 | 2025-03-31 | $87.8M | −$100.5M | −53.39% | — |
| Q4 2024 | 2024-12-31 | $163.2M | $105.1M | +181.24% | — |
| Q3 2024 | 2024-09-30 | $132.6M | −$6.2M | −4.48% | — |
| Q2 2024 | 2024-06-30 | $123.1M | $60.4M | +96.30% | — |
| Q1 2024 | 2024-03-31 | $188.3M | $89.9M | +91.37% | — |
| Q4 2023 | 2023-12-31 | $58.0M | $46.8M | +418.45% | — |
| Q3 2023 | 2023-09-30 | $138.8M | −$24.1M | −14.78% | — |
| Q2 2023 | 2023-06-30 | $62.7M | −$127.3M | −66.98% | — |
| Q1 2023 | 2023-03-31 | $98.4M | −$161.1M | −62.08% | +29.67% |
| Q4 2022 | 2022-12-31 | $11.2M | −$116.2M | −91.22% | +3.32% |
| Q3 2022 | 2022-09-30 | $162.9M | $26.0M | +19.01% | +41.22% |
| Q2 2022 | 2022-06-30 | $190.0M | $63.7M | +50.42% | +55.04% |
| Q1 2022 | 2022-03-31 | $259.6M | $228.8M | +743.81% | +53.90% |
| Q4 2021 | 2021-12-31 | $127.4M | −$16.0M | −11.17% | +32.30% |
| Q3 2021 | 2021-09-30 | $136.9M | −$108.1M | −44.12% | +47.75% |
| Q2 2021 | 2021-06-30 | $126.3M | $108.9M | +625.11% | +41.68% |
| Q1 2021 | 2021-03-31 | $30.8M | $200.8M | — | +9.04% |
| Q4 2020 | 2020-12-31 | $143.5M | $12.3M | +9.36% | +27.08% |
| Q3 2020 | 2020-09-30 | $244.9M | $108.1M | +79.06% | +79.83% |
| Q2 2020 | 2020-06-30 | $17.4M | −$85.5M | −83.07% | +5.48% |
| Q1 2020 | 2020-03-31 | −$170.0M | −$5.5M | — | −69.20% |
| Q4 2019 | 2019-12-31 | $131.2M | $82.4M | +168.85% | +45.53% |
| Q3 2019 | 2019-09-30 | $136.8M | $46.3M | +51.22% | +47.90% |
| Q2 2019 | 2019-06-30 | $102.9M | $126.2M | — | +42.54% |
| Q1 2019 | 2019-03-31 | −$164.5M | −$194.4M | — | −62.08% |
| Q4 2018 | 2018-12-31 | $48.8M | $22.5M | +85.33% | +22.32% |
| Q3 2018 · Sep 30 | 2018-09-30 | $90.5M | $7.7M | +9.32% | +32.73% |
| Q2 2018 · Jun 30 | 2018-06-30 | −$23.3M | −$44.6M | — | −9.02% |
| Q1 2018 · Mar 31 | 2018-03-31 | $29.9M | −$36.5M | −54.96% | +9.27% |
| Q3 2018 · Sep 30 | 2017-09-30 | $26.3M | −$30.1M | −53.32% | — |
| Q2 2018 · Jun 30 | 2017-06-30 | $82.7M | −$6.5M | −7.30% | — |
| Q1 2018 · Mar 31 | 2017-03-31 | $21.4M | −$90.8M | −80.95% | — |
| Q3 2017 | 2016-09-30 | $66.4M | $4.9M | +7.91% | — |
| Q2 2017 | 2016-06-30 | $56.4M | −$64.6M | −53.38% | — |
| Q1 2017 | 2016-03-31 | $89.3M | −$329,000 | −0.37% | — |
| Q3 2015 | 2015-09-30 | $112.1M | $18.2M | +19.38% | — |
| Q2 2015 | 2015-06-30 | $61.5M | −$502,000 | −0.81% | — |
| Q1 2015 | 2015-03-31 | $121.0M | $35.5M | +41.56% | — |
| Q4 2014 | 2014-12-31 | $89.6M | −$89.7M | −50.03% | — |
| Q3 2014 | 2014-09-30 | $93.9M | $46.7M | +98.75% | — |
| Q2 2014 | 2014-06-30 | $62.0M | $577,000 | +0.94% | — |
| Q1 2014 | 2014-03-31 | $85.5M | $3.2M | +3.95% | — |
| Q4 2013 | 2013-12-31 | $179.3M | $143.1M | +395.99% | — |
| Q3 2013 | 2013-09-30 | $47.3M | −$49.1M | −50.96% | — |
| Q2 2013 | 2013-06-30 | $61.4M | $2.8M | +4.81% | — |
| Q1 2013 | 2013-03-31 | $82.2M | −$16.1M | −16.34% | — |
| Q4 2012 | 2012-12-31 | $36.1M | −$58.4M | −61.76% | — |
| Q3 2012 | 2012-09-30 | $96.4M | $54.1M | +128.16% | +57.10% |
| Q2 2012 | 2012-06-30 | $58.6M | −$22.7M | −27.89% | +34.14% |
| Q1 2012 | 2012-03-31 | $98.3M | $19.6M | +24.90% | +53.49% |
| Q4 2011 | 2011-12-31 | $94.5M | $142.9M | — | — |
| Q3 2011 | 2011-09-30 | $42.2M | — | — | +23.22% |
| Q2 2011 | 2011-06-30 | $81.3M | — | — | +49.54% |
| Q1 2011 | 2011-03-31 | $78.7M | — | — | +41.15% |
| Q3 2010 | 2010-09-30 | −$48.4M | — | — | −29.30% |
Nelnet free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $235.8M to $396.7M, a compound annual growth rate of 10.97%. Nelnet's latest reported quarter, Q2 2026, generated $71.6M in free cash flow, a decrease of 8.32% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Nelnet filings at SEC.gov ↗