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Side-by-side financial comparison of NELNET INC (NNI) and Ouster, Inc. (OUST). Click either name above to swap in a different company.
Ouster, Inc. is the larger business by last-quarter revenue ($62.2M vs $33.5M, roughly 1.9× NELNET INC). On growth, Ouster, Inc. posted the faster year-over-year revenue change (106.6% vs 79.6%). NELNET INC produced more free cash flow last quarter ($396.7M vs $-37.2M). Over the past eight quarters, NELNET INC's revenue compounded faster (62.0% CAGR vs 54.8%).
Nelnet, Inc. is a United States–based conglomerate that primarily focuses on financial services including student and consumer loan origination and servicing. Additionally, the company operates an investing arm, an internet bank and has a 26% stake in Allo Fiber, a cable and internet provider. The company is headquartered in Lincoln, Nebraska.
Ouster, Inc. is an American lidar technology company headquartered in San Francisco, California. It builds high-resolution, digital 3D lidar sensors for use in autonomous vehicles, industrial, robotics, drones, mapping, defense, and security systems.
NNI vs OUST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $33.5M | $62.2M |
| Net Profit | $57.8M | — |
| Gross Margin | 50.5% | 60.2% |
| Operating Margin | — | 1.5% |
| Net Margin | 172.3% | — |
| Revenue YoY | 79.6% | 106.6% |
| Net Profit YoY | -8.5% | — |
| EPS (diluted) | $1.62 | $0.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $33.5M | $62.2M | ||
| Q3 25 | $23.2M | $39.5M | ||
| Q2 25 | $26.1M | $35.0M | ||
| Q1 25 | $24.7M | $32.6M | ||
| Q4 24 | $18.7M | $30.1M | ||
| Q3 24 | $16.6M | $28.1M | ||
| Q2 24 | $14.9M | $27.0M | ||
| Q1 24 | $12.8M | $25.9M |
| Q4 25 | $57.8M | — | ||
| Q3 25 | $106.7M | $-21.7M | ||
| Q2 25 | $181.5M | $-20.6M | ||
| Q1 25 | $82.6M | $-22.0M | ||
| Q4 24 | $63.2M | — | ||
| Q3 24 | $2.4M | $-25.6M | ||
| Q2 24 | $45.1M | $-23.9M | ||
| Q1 24 | $73.4M | $-23.8M |
| Q4 25 | 50.5% | 60.2% | ||
| Q3 25 | 29.6% | 42.1% | ||
| Q2 25 | 29.8% | 45.2% | ||
| Q1 25 | 30.5% | 41.3% | ||
| Q4 24 | 13.7% | 43.8% | ||
| Q3 24 | 0.1% | 38.3% | ||
| Q2 24 | 27.3% | 33.7% | ||
| Q1 24 | 15.3% | 28.6% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | -61.4% | ||
| Q2 25 | — | -76.5% | ||
| Q1 25 | — | -73.0% | ||
| Q4 24 | 97.7% | -85.1% | ||
| Q3 24 | -13.4% | -98.0% | ||
| Q2 24 | 88.0% | -93.6% | ||
| Q1 24 | — | -99.5% |
| Q4 25 | 172.3% | — | ||
| Q3 25 | 460.5% | -55.0% | ||
| Q2 25 | 694.9% | -58.8% | ||
| Q1 25 | 334.4% | -67.5% | ||
| Q4 24 | 338.2% | — | ||
| Q3 24 | 14.4% | -91.1% | ||
| Q2 24 | 303.6% | -88.4% | ||
| Q1 24 | 574.4% | -91.9% |
| Q4 25 | $1.62 | $0.10 | ||
| Q3 25 | $2.94 | $-0.37 | ||
| Q2 25 | $4.97 | $-0.38 | ||
| Q1 25 | $2.26 | $-0.42 | ||
| Q4 24 | $1.74 | $-0.46 | ||
| Q3 24 | $0.07 | $-0.54 | ||
| Q2 24 | $1.23 | $-0.53 | ||
| Q1 24 | $1.98 | $-0.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $296.0M | $208.6M |
| Total DebtLower is stronger | $7.8B | — |
| Stockholders' EquityBook value | $3.7B | $261.7M |
| Total Assets | $14.1B | $349.5M |
| Debt / EquityLower = less leverage | 2.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $296.0M | $208.6M | ||
| Q3 25 | $216.4M | $244.5M | ||
| Q2 25 | $225.8M | $226.5M | ||
| Q1 25 | $220.5M | $168.2M | ||
| Q4 24 | $194.5M | $172.0M | ||
| Q3 24 | $219.7M | $151.4M | ||
| Q2 24 | $145.5M | $184.2M | ||
| Q1 24 | $179.7M | $187.8M |
| Q4 25 | $7.8B | — | ||
| Q3 25 | $7.8B | — | ||
| Q2 25 | $7.9B | — | ||
| Q1 25 | $8.7B | — | ||
| Q4 24 | $8.3B | — | ||
| Q3 24 | $8.9B | — | ||
| Q2 24 | $9.6B | — | ||
| Q1 24 | $10.6B | — |
| Q4 25 | $3.7B | $261.7M | ||
| Q3 25 | $3.7B | $247.4M | ||
| Q2 25 | $3.6B | $221.0M | ||
| Q1 25 | $3.4B | $167.9M | ||
| Q4 24 | $3.3B | $180.9M | ||
| Q3 24 | $3.3B | $171.7M | ||
| Q2 24 | $3.3B | $170.6M | ||
| Q1 24 | $3.3B | $167.2M |
| Q4 25 | $14.1B | $349.5M | ||
| Q3 25 | $13.9B | $353.8M | ||
| Q2 25 | $13.7B | $321.8M | ||
| Q1 25 | $14.2B | $268.6M | ||
| Q4 24 | $13.8B | $276.1M | ||
| Q3 24 | $14.1B | $255.2M | ||
| Q2 24 | $14.5B | $309.9M | ||
| Q1 24 | $15.4B | $317.7M |
| Q4 25 | 2.11× | — | ||
| Q3 25 | 2.14× | — | ||
| Q2 25 | 2.21× | — | ||
| Q1 25 | 2.53× | — | ||
| Q4 24 | 2.48× | — | ||
| Q3 24 | 2.72× | — | ||
| Q2 24 | 2.90× | — | ||
| Q1 24 | 3.20× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $423.0M | $-15.4M |
| Free Cash FlowOCF − Capex | $396.7M | $-37.2M |
| FCF MarginFCF / Revenue | 1183.0% | -59.8% |
| Capex IntensityCapex / Revenue | 78.2% | 35.0% |
| Cash ConversionOCF / Net Profit | 7.32× | — |
| TTM Free Cash FlowTrailing 4 quarters | $663.4M | $-64.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $423.0M | $-15.4M | ||
| Q3 25 | $112.4M | $-18.3M | ||
| Q2 25 | $81.8M | $-1.3M | ||
| Q1 25 | $91.2M | $-4.9M | ||
| Q4 24 | $662.9M | $-2.6M | ||
| Q3 24 | $137.0M | $-3.8M | ||
| Q2 24 | $133.8M | $-21.6M | ||
| Q1 24 | $211.6M | $-5.7M |
| Q4 25 | $396.7M | $-37.2M | ||
| Q3 25 | $100.8M | $-20.0M | ||
| Q2 25 | $78.1M | $-2.2M | ||
| Q1 25 | $87.8M | $-5.4M | ||
| Q4 24 | $642.0M | $-4.0M | ||
| Q3 24 | $132.6M | $-4.3M | ||
| Q2 24 | $123.1M | $-22.0M | ||
| Q1 24 | $188.3M | $-7.1M |
| Q4 25 | 1183.0% | -59.8% | ||
| Q3 25 | 435.0% | -50.7% | ||
| Q2 25 | 299.0% | -6.3% | ||
| Q1 25 | 355.6% | -16.6% | ||
| Q4 24 | 3438.0% | -13.3% | ||
| Q3 24 | 797.9% | -15.4% | ||
| Q2 24 | 829.2% | -81.5% | ||
| Q1 24 | 1473.7% | -27.4% |
| Q4 25 | 78.2% | 35.0% | ||
| Q3 25 | 50.4% | 4.3% | ||
| Q2 25 | 14.2% | 2.5% | ||
| Q1 25 | 13.7% | 1.7% | ||
| Q4 24 | 111.9% | 4.8% | ||
| Q3 24 | 26.7% | 2.0% | ||
| Q2 24 | 71.5% | 1.3% | ||
| Q1 24 | 181.7% | 5.3% |
| Q4 25 | 7.32× | — | ||
| Q3 25 | 1.05× | — | ||
| Q2 25 | 0.45× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 10.50× | — | ||
| Q3 24 | 57.39× | — | ||
| Q2 24 | 2.97× | — | ||
| Q1 24 | 2.88× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
