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Side-by-side financial comparison of NELNET INC (NNI) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
READING INTERNATIONAL INC is the larger business by last-quarter revenue ($50.3M vs $33.5M, roughly 1.5× NELNET INC). NELNET INC runs the higher net margin — 172.3% vs -5.1%, a 177.4% gap on every dollar of revenue. On growth, NELNET INC posted the faster year-over-year revenue change (79.6% vs -14.2%). NELNET INC produced more free cash flow last quarter ($396.7M vs $4.1M). Over the past eight quarters, NELNET INC's revenue compounded faster (62.0% CAGR vs 5.6%).
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.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
NNI vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $33.5M | $50.3M |
| Net Profit | $57.8M | $-2.6M |
| Gross Margin | 50.5% | — |
| Operating Margin | — | -1.9% |
| Net Margin | 172.3% | -5.1% |
| Revenue YoY | 79.6% | -14.2% |
| Net Profit YoY | -8.5% | -14.5% |
| EPS (diluted) | $1.62 | $-0.11 |
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 | $50.3M | ||
| Q3 25 | $23.2M | $52.2M | ||
| Q2 25 | $26.1M | $60.4M | ||
| Q1 25 | $24.7M | $40.2M | ||
| Q4 24 | $18.7M | $58.6M | ||
| Q3 24 | $16.6M | $60.1M | ||
| Q2 24 | $14.9M | $46.8M | ||
| Q1 24 | $12.8M | $45.1M |
| Q4 25 | $57.8M | $-2.6M | ||
| Q3 25 | $106.7M | $-4.2M | ||
| Q2 25 | $181.5M | $-2.7M | ||
| Q1 25 | $82.6M | $-4.8M | ||
| Q4 24 | $63.2M | $-2.2M | ||
| Q3 24 | $2.4M | $-7.0M | ||
| Q2 24 | $45.1M | $-12.8M | ||
| Q1 24 | $73.4M | $-13.2M |
| Q4 25 | 50.5% | — | ||
| Q3 25 | 29.6% | — | ||
| Q2 25 | 29.8% | — | ||
| Q1 25 | 30.5% | — | ||
| Q4 24 | 13.7% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 27.3% | — | ||
| Q1 24 | 15.3% | — |
| Q4 25 | — | -1.9% | ||
| Q3 25 | — | -0.6% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | -17.2% | ||
| Q4 24 | 97.7% | 2.6% | ||
| Q3 24 | -13.4% | -0.6% | ||
| Q2 24 | 88.0% | -16.4% | ||
| Q1 24 | — | -16.7% |
| Q4 25 | 172.3% | -5.1% | ||
| Q3 25 | 460.5% | -8.0% | ||
| Q2 25 | 694.9% | -4.4% | ||
| Q1 25 | 334.4% | -11.8% | ||
| Q4 24 | 338.2% | -3.8% | ||
| Q3 24 | 14.4% | -11.7% | ||
| Q2 24 | 303.6% | -27.4% | ||
| Q1 24 | 574.4% | -29.4% |
| Q4 25 | $1.62 | $-0.11 | ||
| Q3 25 | $2.94 | $-0.18 | ||
| Q2 25 | $4.97 | $-0.12 | ||
| Q1 25 | $2.26 | $-0.21 | ||
| Q4 24 | $1.74 | $-0.11 | ||
| Q3 24 | $0.07 | $-0.31 | ||
| Q2 24 | $1.23 | $-0.57 | ||
| Q1 24 | $1.98 | $-0.59 |
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 | $10.5M |
| Total DebtLower is stronger | $7.8B | $185.1M |
| Stockholders' EquityBook value | $3.7B | $-18.2M |
| Total Assets | $14.1B | $434.9M |
| Debt / EquityLower = less leverage | 2.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $296.0M | $10.5M | ||
| Q3 25 | $216.4M | $8.1M | ||
| Q2 25 | $225.8M | $9.1M | ||
| Q1 25 | $220.5M | $5.9M | ||
| Q4 24 | $194.5M | $12.4M | ||
| Q3 24 | $219.7M | $10.1M | ||
| Q2 24 | $145.5M | $9.3M | ||
| Q1 24 | $179.7M | $7.5M |
| Q4 25 | $7.8B | $185.1M | ||
| Q3 25 | $7.8B | — | ||
| Q2 25 | $7.9B | — | ||
| Q1 25 | $8.7B | — | ||
| Q4 24 | $8.3B | $202.7M | ||
| Q3 24 | $8.9B | — | ||
| Q2 24 | $9.6B | — | ||
| Q1 24 | $10.6B | — |
| Q4 25 | $3.7B | $-18.2M | ||
| Q3 25 | $3.7B | $-12.1M | ||
| Q2 25 | $3.6B | $-7.7M | ||
| Q1 25 | $3.4B | $-8.1M | ||
| Q4 24 | $3.3B | $-4.4M | ||
| Q3 24 | $3.3B | $1.6M | ||
| Q2 24 | $3.3B | $6.5M | ||
| Q1 24 | $3.3B | $18.0M |
| Q4 25 | $14.1B | $434.9M | ||
| Q3 25 | $13.9B | $435.2M | ||
| Q2 25 | $13.7B | $438.1M | ||
| Q1 25 | $14.2B | $441.0M | ||
| Q4 24 | $13.8B | $471.0M | ||
| Q3 24 | $14.1B | $495.7M | ||
| Q2 24 | $14.5B | $494.9M | ||
| Q1 24 | $15.4B | $494.9M |
| 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 | $4.3M |
| Free Cash FlowOCF − Capex | $396.7M | $4.1M |
| FCF MarginFCF / Revenue | 1183.0% | 8.2% |
| Capex IntensityCapex / Revenue | 78.2% | 0.3% |
| Cash ConversionOCF / Net Profit | 7.32× | — |
| TTM Free Cash FlowTrailing 4 quarters | $663.4M | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $423.0M | $4.3M | ||
| Q3 25 | $112.4M | $295.0K | ||
| Q2 25 | $81.8M | $1.6M | ||
| Q1 25 | $91.2M | $-7.7M | ||
| Q4 24 | $662.9M | $8.0M | ||
| Q3 24 | $137.0M | $1.3M | ||
| Q2 24 | $133.8M | $-10.4M | ||
| Q1 24 | $211.6M | $-2.8M |
| Q4 25 | $396.7M | $4.1M | ||
| Q3 25 | $100.8M | $-246.0K | ||
| Q2 25 | $78.1M | $1.2M | ||
| Q1 25 | $87.8M | $-8.0M | ||
| Q4 24 | $642.0M | $7.0M | ||
| Q3 24 | $132.6M | $-1.1M | ||
| Q2 24 | $123.1M | $-10.6M | ||
| Q1 24 | $188.3M | $-4.7M |
| Q4 25 | 1183.0% | 8.2% | ||
| Q3 25 | 435.0% | -0.5% | ||
| Q2 25 | 299.0% | 1.9% | ||
| Q1 25 | 355.6% | -19.8% | ||
| Q4 24 | 3438.0% | 12.0% | ||
| Q3 24 | 797.9% | -1.8% | ||
| Q2 24 | 829.2% | -22.7% | ||
| Q1 24 | 1473.7% | -10.4% |
| Q4 25 | 78.2% | 0.3% | ||
| Q3 25 | 50.4% | 1.0% | ||
| Q2 25 | 14.2% | 0.6% | ||
| Q1 25 | 13.7% | 0.6% | ||
| Q4 24 | 111.9% | 1.7% | ||
| Q3 24 | 26.7% | 4.0% | ||
| Q2 24 | 71.5% | 0.5% | ||
| Q1 24 | 181.7% | 4.3% |
| 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.
Revenue Breakdown by Segment
NNI
Segment breakdown not available.
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
