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NATIONAL RESEARCH CORP (NRC) Stock Fundamental Analysis

NASDAQ:NRC - Nasdaq - US6373722023 - Common Stock - Currency: USD

12.63  -0.63 (-4.75%)

After market: 12.63 0 (0%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to NRC. NRC was compared to 103 industry peers in the Health Care Providers & Services industry. While NRC belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. NRC has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year NRC was profitable.
NRC had a positive operating cash flow in the past year.
Each year in the past 5 years NRC has been profitable.
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

NRC has a better Return On Assets (17.91%) than 99.03% of its industry peers.
With an excellent Return On Equity value of 81.59%, NRC belongs to the best of the industry, outperforming 99.03% of the companies in the same industry.
NRC has a Return On Invested Capital of 26.72%. This is amongst the best in the industry. NRC outperforms 95.15% of its industry peers.
NRC had an Average Return On Invested Capital over the past 3 years of 37.15%. This is significantly above the industry average of 9.72%.
The 3 year average ROIC (37.15%) for NRC is well above the current ROIC(26.72%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 17.91%
ROE 81.59%
ROIC 26.72%
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 17.13%, NRC belongs to the best of the industry, outperforming 99.03% of the companies in the same industry.
In the last couple of years the Profit Margin of NRC has declined.
The Operating Margin of NRC (24.89%) is better than 97.09% of its industry peers.
NRC's Operating Margin has declined in the last couple of years.
NRC has a better Gross Margin (60.27%) than 82.52% of its industry peers.
In the last couple of years the Gross Margin of NRC has remained more or less at the same level.
Industry RankSector Rank
OM 24.89%
PM (TTM) 17.13%
GM 60.27%
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

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), NRC is creating value.
Compared to 1 year ago, NRC has less shares outstanding
NRC has less shares outstanding than it did 5 years ago.
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 3.24 indicates that NRC is not in any danger for bankruptcy at the moment.
The Altman-Z score of NRC (3.24) is better than 68.93% of its industry peers.
The Debt to FCF ratio of NRC is 4.37, which is a neutral value as it means it would take NRC, 4.37 years of fcf income to pay off all of its debts.
NRC's Debt to FCF ratio of 4.37 is fine compared to the rest of the industry. NRC outperforms 71.84% of its industry peers.
A Debt/Equity ratio of 2.10 is on the high side and indicates that NRC has dependencies on debt financing.
NRC's Debt to Equity ratio of 2.10 is on the low side compared to the rest of the industry. NRC is outperformed by 76.70% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.1
Debt/FCF 4.37
Altman-Z 3.24
ROIC/WACC3.01
WACC8.89%
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

A Current Ratio of 0.54 indicates that NRC may have some problems paying its short term obligations.
NRC has a Current ratio of 0.54. This is amonst the worse of the industry: NRC underperforms 90.29% of its industry peers.
A Quick Ratio of 0.54 indicates that NRC may have some problems paying its short term obligations.
The Quick ratio of NRC (0.54) is worse than 86.41% of its industry peers.
Industry RankSector Rank
Current Ratio 0.54
Quick Ratio 0.54
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

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1

3. Growth

3.1 Past

The earnings per share for NRC have decreased strongly by -16.63% in the last year.
The Earnings Per Share has been decreasing by -3.70% on average over the past years.
Looking at the last year, NRC shows a decrease in Revenue. The Revenue has decreased by -4.16% in the last year.
NRC shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.25% yearly.
EPS 1Y (TTM)-16.63%
EPS 3Y-10.59%
EPS 5Y-3.7%
EPS Q2Q%-5.05%
Revenue 1Y (TTM)-4.16%
Revenue growth 3Y-1.13%
Revenue growth 5Y2.25%
Sales Q2Q%-4.98%

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

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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 12.26, NRC is valued correctly.
82.52% of the companies in the same industry are more expensive than NRC, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 27.61, NRC is valued rather cheaply.
Industry RankSector Rank
PE 12.26
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

72.82% 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 ratio is a bit cheaper when compared to the industry. NRC is cheaper than 63.11% of the companies in the same industry.
Industry RankSector Rank
P/FCF 19.27
EV/EBITDA 8.4
NRC Per share dataNRC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

NRC has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2YN/A
EPS Next 3YN/A

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 3.26%, NRC has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 2.61, NRC pays a better dividend. On top of this NRC pays more dividend than 95.15% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.32, NRC pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.26%

5.2 History

The dividend of NRC decreases each year by -17.40%.
NRC has been paying a dividend for at least 10 years, so it has 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 46.75% of its income as dividend. This is a bit on the high side, but may be sustainable.
NRC's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP46.75%
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

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NATIONAL RESEARCH CORP

NASDAQ:NRC (7/30/2025, 8:00:02 PM)

After market: 12.63 0 (0%)

12.63

-0.63 (-4.75%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)05-06 2025-05-06
Earnings (Next)08-05 2025-08-05
Inst Owners51.11%
Inst Owner Change0.17%
Ins Owners9.62%
Ins Owner Change10.88%
Market Cap287.84M
Analysts45
Price TargetN/A
Short Float %3.39%
Short Ratio4.59
Dividend
Industry RankSector Rank
Dividend Yield 3.26%
Yearly Dividend0.48
Dividend Growth(5Y)-17.4%
DP46.75%
Div Incr Years0
Div Non Decr Years0
Ex-Date06-27 2025-06-27 (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 12.26
Fwd PE N/A
P/S 2.04
P/FCF 19.27
P/OCF 9.85
P/B 9.7
P/tB N/A
EV/EBITDA 8.4
EPS(TTM)1.03
EY8.16%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)0.66
FCFY5.19%
OCF(TTM)1.28
OCFY10.16%
SpS6.2
BVpS1.3
TBVpS-1.71
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 17.91%
ROE 81.59%
ROCE 36.11%
ROIC 26.72%
ROICexc 27.4%
ROICexgc 90.7%
OM 24.89%
PM (TTM) 17.13%
GM 60.27%
FCFM 10.57%
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 Turnover1.05
Health
Industry RankSector Rank
Debt/Equity 2.1
Debt/FCF 4.37
Debt/EBITDA 1.51
Cap/Depr 233.71%
Cap/Sales 10.12%
Interest Coverage 13.06
Cash Conversion 70.8%
Profit Quality 61.7%
Current Ratio 0.54
Quick Ratio 0.54
Altman-Z 3.24
F-Score5
WACC8.89%
ROIC/WACC3.01
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)-16.63%
EPS 3Y-10.59%
EPS 5Y-3.7%
EPS Q2Q%-5.05%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-4.16%
Revenue growth 3Y-1.13%
Revenue growth 5Y2.25%
Sales Q2Q%-4.98%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-12.46%
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-40.79%
FCF growth 3Y-22.27%
FCF growth 5Y-11.96%
OCF growth 1Y-18.18%
OCF growth 3Y-9.26%
OCF growth 5Y-3.29%