Nelnet (Nelnet) Effective Interest Rate on Debt % : 7.05% (As of Mar. 2024)

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What is Nelnet Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Nelnet's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $778 Mil. Nelnet's average total debt for the quarter that ended in Mar. 2024 was $11,044 Mil. Therefore, Nelnet's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 7.05%.

Nelnet Effective Interest Rate on Debt % Historical Data

The historical data trend for Nelnet's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Nelnet Effective Interest Rate on Debt % Chart

Nelnet Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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3.27

1.66

0.97

2.76

6.58

Nelnet Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															5.89	7.27	6.69	6.92	7.05

Competitive Comparison of Nelnet's Effective Interest Rate on Debt %

For the Credit Services subindustry, Nelnet's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Nelnet's Effective Interest Rate on Debt % Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Nelnet's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Nelnet's Effective Interest Rate on Debt % falls into.

Nelnet Effective Interest Rate on Debt % Calculation

Nelnet's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -845.091	/	( (14069.941	+	11620.229)	/ 2 )
=	-1 * -845.091	/	12845.085
=	6.58 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	12937.629	+	1132.312
=	14069.941

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	10198.053	+	1422.176
=	11620.229

Nelnet's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -778.32	/	( (11620.229	+	10468.015)	/ 2 )
=	-1 * -778.32	/	11044.122
=	7.05 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	10198.053	+	1422.176
=	11620.229

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	9360.056	+	1107.959
=	10468.015

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Nelnet (NYSE:NNI) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Nelnet Effective Interest Rate on Debt % Related Terms

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Nelnet (Nelnet) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Nelnet Inc (NYSE:NNI) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

NIJ:Germany

Address

121 South 13th Street, Suite 100, Lincoln, NE, USA, 68508

Website

https://www.nelnet.com

Nelnet Inc is a United States based company engaged in these five segments; Loan Servicing and Systems focuses on student and consumer loan origination services and servicing, loan origination and servicing-related technology solutions, and outsourcing business services, Education Technology, Services, and Payment Processing provides education services, payment technology, and community management solutions for K-12 schools, institutions, churches, and businesses, Asset Generation and Management Includes the acquisition and management of student and other loan assets, Nelnet Bank focuses on the private education and unsecured consumer loan markets, and Communications provides fiber optic service for internet, telephone, and television services.

Executives

William J Munn	officer: Secy, Chief Legal Off, Gen Cou	121 S. 13TH STREET, SUITE 100, LINCOLN NE 68508
Van Deun Jona M	director	121 SOUTH 13TH STREET, SUITE 100, LINCOLN NE 68508
Dan D Muhleisen	10 percent owner	6321 DOECREEK CIRCLE, LINCOLN NE 68516
Preeta D Bansal	director	121 SOUTH 13TH STREET, SUITE 100, LINCOLN NE 68508
David S Graff	director	121 SOUTH 13TH STREET, SUITE 100, LINCOLN NE 68508
Kimberly Kay Rath	director	121 SOUTH 13TH STREET, SUITE 100, LINCOLN NE 68508
Kathleen Anne Farrell	director	121 SOUTH 13TH STREET, SUITE 100, LINCOLN NE 68508
Matthew W Dunlap	director, officer: Chief Business Develop. Off.	121 SOUTH 13TH STREET, SUITE 100, LINCOLN NE 68508
Magnolia Capital Fund, Lp	other: See remarks	1601 DODGE STREET, SUITE 3300, OMAHA NE 68102
Magnolia Group, Llc	other: See remarks	1601 DODGE STREET, SUITE 3300, OMAHA NE 68102
Adam K Peterson	director, other: See below	1601 DODGE STREET, SUITE 3300, OMAHA NE 68102
Shelby J Butterfield	10 percent owner	121 SOUTH 13TH STREET, SUITE 100, LINCOLN NE 68508
Michael S Dunlap	director, 10 percent owner, officer: Chairman, Co-Chief Ex. Officer	121 SOUTH 13TH STREET, SUITE 100, LINCOLN NE 68508
Joann M Martin	director	6221 ANDREW COURT, LINCOLN NE 68512
Angie Mulheisen	10 percent owner	3643 S 48TH STREET P O BOX 82535, LINCOLN NE 68501-2535