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NATIONAL RESEARCH CORP (NRC) Stock Fundamental Analysis

USA - NASDAQ:NRC - US6373722023 - Common Stock

11.61 USD
-0.07 (-0.6%)
Last: 10/17/2025, 8:00:01 PM
11.61 USD
0 (0%)
After Hours: 10/17/2025, 8:00:01 PM
Fundamental Rating

4

NRC gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 101 industry peers in the Health Care Providers & Services industry. While NRC has a great profitability rating, there are quite some concerns on its financial health. NRC has a valuation in line with the averages, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

NRC had positive earnings in the past year.
NRC had a positive operating cash flow in the past year.
NRC had positive earnings in each of the past 5 years.
NRC had a positive operating cash flow in each of the past 5 years.
NRC Yearly Net Income VS EBIT VS OCF VS FCFNRC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

1.2 Ratios

With an excellent Return On Assets value of 12.68%, NRC belongs to the best of the industry, outperforming 98.02% of the companies in the same industry.
NRC's Return On Equity of 84.06% is amongst the best of the industry. NRC outperforms 99.01% of its industry peers.
NRC has a Return On Invested Capital of 20.28%. This is amongst the best in the industry. NRC outperforms 94.06% of its industry peers.
The Average Return On Invested Capital over the past 3 years for NRC is significantly above the industry average of 9.33%.
The last Return On Invested Capital (20.28%) for NRC is well below the 3 year average (37.15%), which needs to be investigated, but indicates that NRC had better years and this may not be a problem.
Industry RankSector Rank
ROA 12.68%
ROE 84.06%
ROIC 20.28%
ROA(3y)22.78%
ROA(5y)24%
ROE(3y)62.21%
ROE(5y)57.67%
ROIC(3y)37.15%
ROIC(5y)35.26%
NRC Yearly ROA, ROE, ROICNRC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50 100 150

1.3 Margins

With an excellent Profit Margin value of 12.78%, NRC belongs to the best of the industry, outperforming 99.01% of the companies in the same industry.
NRC's Profit Margin has declined in the last couple of years.
NRC has a Operating Margin of 19.88%. This is amongst the best in the industry. NRC outperforms 96.04% of its industry peers.
NRC's Operating Margin has declined in the last couple of years.
The Gross Margin of NRC (60.31%) is better than 81.19% of its industry peers.
NRC's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 19.88%
PM (TTM) 12.78%
GM 60.31%
OM growth 3Y-10.18%
OM growth 5Y-5.95%
PM growth 3Y-11.83%
PM growth 5Y-7.25%
GM growth 3Y-2.32%
GM growth 5Y-1.11%
NRC Yearly Profit, Operating, Gross MarginsNRC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

3

2. Health

2.1 Basic Checks

NRC has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
Compared to 1 year ago, NRC has less shares outstanding
Compared to 5 years ago, NRC has less shares outstanding
NRC has a worse debt/assets ratio than last year.
NRC Yearly Shares OutstandingNRC Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M 25M
NRC Yearly Total Debt VS Total AssetsNRC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

2.2 Solvency

An Altman-Z score of 2.72 indicates that NRC is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.72, NRC is in line with its industry, outperforming 57.43% of the companies in the same industry.
NRC has a debt to FCF ratio of 8.73. This is a slightly negative value and a sign of low solvency as NRC would need 8.73 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 8.73, NRC is in line with its industry, outperforming 53.47% of the companies in the same industry.
A Debt/Equity ratio of 3.61 is on the high side and indicates that NRC has dependencies on debt financing.
The Debt to Equity ratio of NRC (3.61) is worse than 78.22% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.61
Debt/FCF 8.73
Altman-Z 2.72
ROIC/WACC2.5
WACC8.1%
NRC Yearly LT Debt VS Equity VS FCFNRC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

2.3 Liquidity

NRC has a Current Ratio of 0.70. This is a bad value and indicates that NRC is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of NRC (0.70) is worse than 86.14% of its industry peers.
A Quick Ratio of 0.70 indicates that NRC may have some problems paying its short term obligations.
NRC's Quick ratio of 0.70 is on the low side compared to the rest of the industry. NRC is outperformed by 80.20% of its industry peers.
Industry RankSector Rank
Current Ratio 0.7
Quick Ratio 0.7
NRC Yearly Current Assets VS Current LiabilitesNRC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M

1

3. Growth

3.1 Past

The earnings per share for NRC have decreased strongly by -36.26% in the last year.
NRC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.70% yearly.
NRC shows a decrease in Revenue. In the last year, the revenue decreased by -4.08%.
Measured over the past years, NRC shows a small growth in Revenue. The Revenue has been growing by 2.25% on average per year.
EPS 1Y (TTM)-36.26%
EPS 3Y-10.59%
EPS 5Y-3.7%
EPS Q2Q%-101.82%
Revenue 1Y (TTM)-4.08%
Revenue growth 3Y-1.13%
Revenue growth 5Y2.25%
Sales Q2Q%-2.8%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
NRC Yearly Revenue VS EstimatesNRC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
NRC Yearly EPS VS EstimatesNRC Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2023 0.2 0.4 0.6 0.8 1

4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 15.08, which indicates a correct valuation of NRC.
80.20% of the companies in the same industry are more expensive than NRC, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.42. NRC is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 15.08
Fwd PE N/A
NRC Price Earnings VS Forward Price EarningsNRC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

70.30% of the companies in the same industry are more expensive than NRC, based on the Enterprise Value to EBITDA ratio.
NRC's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 28.87
EV/EBITDA 10.03
NRC Per share dataNRC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 -2 4 6

4.3 Compensation for Growth

The excellent profitability rating of NRC may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.11%, NRC is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 2.45, NRC pays a better dividend. On top of this NRC pays more dividend than 99.01% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.36, NRC pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.11%

5.2 History

The dividend of NRC decreases each year by -17.40%.
NRC has paid a dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)-17.4%
Div Incr Years0
Div Non Decr Years0
NRC Yearly Dividends per shareNRC Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1

5.3 Sustainability

NRC pays out 62.38% of its income as dividend. This is not a sustainable payout ratio.
NRC's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP62.38%
EPS Next 2YN/A
EPS Next 3YN/A
NRC Yearly Income VS Free CF VS DividendNRC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
NRC Dividend Payout.NRC Dividend Payout, showing the Payout Ratio.NRC Dividend Payout.PayoutRetained Earnings

NATIONAL RESEARCH CORP

NASDAQ:NRC (10/17/2025, 8:00:01 PM)

After market: 11.61 0 (0%)

11.61

-0.07 (-0.6%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)08-05 2025-08-05
Earnings (Next)10-27 2025-10-27
Inst Owners51.36%
Inst Owner Change-0.12%
Ins Owners9.51%
Ins Owner Change10.19%
Market Cap267.73M
Analysts45
Price TargetN/A
Short Float %3.56%
Short Ratio4.27
Dividend
Industry RankSector Rank
Dividend Yield 4.11%
Yearly Dividend0.48
Dividend Growth(5Y)-17.4%
DP62.38%
Div Incr Years0
Div Non Decr Years0
Ex-Date09-26 2025-09-26 (0.12)
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 15.08
Fwd PE N/A
P/S 1.91
P/FCF 28.87
P/OCF 12.56
P/B 12.55
P/tB N/A
EV/EBITDA 10.03
EPS(TTM)0.77
EY6.63%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)0.4
FCFY3.46%
OCF(TTM)0.92
OCFY7.96%
SpS6.08
BVpS0.92
TBVpS-2.05
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 12.68%
ROE 84.06%
ROCE 26.45%
ROIC 20.28%
ROICexc 21.34%
ROICexgc 67.64%
OM 19.88%
PM (TTM) 12.78%
GM 60.31%
FCFM 6.61%
ROA(3y)22.78%
ROA(5y)24%
ROE(3y)62.21%
ROE(5y)57.67%
ROIC(3y)37.15%
ROIC(5y)35.26%
ROICexc(3y)44.09%
ROICexc(5y)48.46%
ROICexgc(3y)273.96%
ROICexgc(5y)N/A
ROCE(3y)48.46%
ROCE(5y)46%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y-21.97%
ROICexc growth 5Y-12.09%
OM growth 3Y-10.18%
OM growth 5Y-5.95%
PM growth 3Y-11.83%
PM growth 5Y-7.25%
GM growth 3Y-2.32%
GM growth 5Y-1.11%
F-Score5
Asset Turnover0.99
Health
Industry RankSector Rank
Debt/Equity 3.61
Debt/FCF 8.73
Debt/EBITDA 2.25
Cap/Depr 189.66%
Cap/Sales 8.58%
Interest Coverage 9.03
Cash Conversion 62.23%
Profit Quality 51.72%
Current Ratio 0.7
Quick Ratio 0.7
Altman-Z 2.72
F-Score5
WACC8.1%
ROIC/WACC2.5
Cap/Depr(3y)236.79%
Cap/Depr(5y)169.97%
Cap/Sales(3y)9.3%
Cap/Sales(5y)6.92%
Profit Quality(3y)77.54%
Profit Quality(5y)88.07%
High Growth Momentum
Growth
EPS 1Y (TTM)-36.26%
EPS 3Y-10.59%
EPS 5Y-3.7%
EPS Q2Q%-101.82%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-4.08%
Revenue growth 3Y-1.13%
Revenue growth 5Y2.25%
Sales Q2Q%-2.8%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-29.67%
EBIT growth 3Y-11.19%
EBIT growth 5Y-3.83%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-56.39%
FCF growth 3Y-22.27%
FCF growth 5Y-11.96%
OCF growth 1Y-38.68%
OCF growth 3Y-9.26%
OCF growth 5Y-3.29%