Bread Financial Holdings, Inc. vs NELNET, INC., two Credit Services stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The margin comparison is muddied by Nelnet's 111.7% net margin, an investment-and-servicing-gain artifact, so read the returns: Bread Financial earns 16.9% on equity against Nelnet's 11.2%, the private-label card lender out-earning the student-loan servicer-investor. Both trade cheap, 8.7 and 11.7 times earnings. Bread runs debt-free on this page against Nelnet's 2.06 turns; Nelnet pays a 0.4% dividend, Bread 0.8%. Bread's 47.7% free-cash figure and Nelnet's 7.6% are both loan-flow-flavored. The pair prices two mid-cap credit businesses at single-digit-to-low-double multiples; Bread is a cleaner, higher-return card lender, Nelnet a diversified servicing-and-investment holding, and the market barely distinguishes their prices.
Comparison updated 2026-07-11.
| Metric | BFH | NNI |
|---|---|---|
| Price | $106.19 | $134.48 |
| Market cap | $4.6B | $4.9B |
| Sector | Financial Services | Financial Services |
| Stage | Mature | Growth |
| Implied growth (priced in) | — | +16.4% |
| P/E | 8.7 | 11.7 |
| P/B | 1.38 | 1.30 |
| P/S | 1.11 | 12.99 |
| EV/EBITDA | 12.2 | 138.8 |
| Revenue growth | +2.5% | +23.6% |
| Net margin | 13.6% | 111.7% |
| Return on equity | 16.9% | 11.2% |
| Return on assets | 2.5% | 2.9% |
| Dividend yield | 0.8% | 0.4% |
| Debt / equity | 0.00 | 2.06 |
| Altman Z (solvency) | 0.43 | 0.67 |
| Piotroski F (quality) | 9 / 9 | 8 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.