COMP <GO>

NNI vs CACC // FORWARD P/E MULTIPLE

Nelnet Inc. (NYSE) VS. Credit Acceptance Corporation (NASDAQ) • 15-METRIC TALLY: NNI 3 — CACC 3

■ METRIC PARITY

LAST: $124.27 (+1.47%) • MKT CAP: $4.38B

forward-pe

9.6x

LAST: $484.76 (+4.27%) • MKT CAP: $4.71B

forward-pe

—

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (NNI VS. CACC) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	NNI	CACC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	11.60%	0.00%	+11.60	NNI	/roic <GO>
EV/EBITDA & P/E Valuation	—	95.0x	—	TIE	/valuation <GO>
Free Cash Flow Yield	8.98%	17.62%	-8.64	CACC	/fcf-yield <GO>
Operating Margin	—	0.00%	—	TIE	/operating-margins <GO>
Net Profit Margin	—	0.00%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	7.20%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.97%	0.00%	+0.97	NNI	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	8/9	-4.00	CACC	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	42.2	39.3	+2.90	NNI	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	1.02	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple ACTIVE	9.6x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$4.38B	$4.71B	-$330.9M	CACC	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	NNI REV	CACC REV	NNI GROSS %	CACC GROSS %	NNI FCF	CACC FCF
FY 2025	$5.91B	$2.32B	—	—	$396.7M	$1.05B
FY 2024	$5.79B	$2.16B	—	—	$642.0M	$1.14B
FY 2023	$1.64B	$1.90B	—	—	$432.0M	$1.12B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

NNI // BETA —

CACC // BETA 1.02