$Nelnet (NNI.US)$Over the past 5 years, revenue declined by ...

Revenue is dominated by non-interest income, and non-interest income is also dominated by commission income. Interest income accounts for only 22%.

There were 260 million business sales revenue in 2020; otherwise, net profit for that year would have plummeted.

Over the past five years, the balance ratio has declined from 90.8% to 83.5%. The total assets of 19.4 billion yuan are mainly composed of net loans of 15.2 billion dollars, securities investments of 1.8 billion dollars, and cash of 1.6 billion dollars. The total liabilities of 16.2 billion are mainly composed of 13 billion long-term loans and 1 billion short-term loans and 1 billion customer deposits, with no risk of crowding out.

The share capital of common stock has been declining over the past 5 years, indicating that the company continues to buy back and write off shares to increase the return on net assets.

Currently, the price-earnings ratio is 8.3 and the net price-to-market ratio is 1.04. There are not many valuation discounts, so it is not very attractive.