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NATIONAL RESEARCH CORP (NRC) Stock Fundamental Analysis

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

16.54  -0.13 (-0.78%)

After market: 16.55 +0.01 (+0.06%)

Fundamental Rating

4

NRC gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 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 expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

NRC had positive earnings in the past year.
In the past year NRC had a positive cash flow from operations.
In the past 5 years NRC has always been profitable.
Each year in the past 5 years NRC had a positive operating cash flow.
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

The Return On Assets of NRC (17.91%) is better 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.
With an excellent Return On Invested Capital value of 26.72%, NRC belongs to the best of the industry, outperforming 95.15% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for NRC is significantly above the industry average of 9.71%.
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

NRC has a Profit Margin of 17.13%. This is amongst the best in the industry. NRC outperforms 99.03% of its industry peers.
NRC's Profit Margin has declined in the last couple of years.
NRC has a better Operating Margin (24.89%) than 97.09% of its industry peers.
NRC's Operating Margin has declined in the last couple of years.
The Gross Margin of NRC (60.27%) is better 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

NRC has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for NRC has been reduced compared to 1 year ago.
The number of shares outstanding for NRC has been reduced compared to 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

NRC has an Altman-Z score of 3.75. This indicates that NRC is financially healthy and has little risk of bankruptcy at the moment.
NRC's Altman-Z score of 3.75 is fine compared to the rest of the industry. NRC outperforms 70.87% 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.
NRC has a Debt/Equity ratio of 2.10. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of NRC (2.10) is worse than 76.70% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.1
Debt/FCF 4.37
Altman-Z 3.75
ROIC/WACC3.21
WACC8.33%
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.
With a Current ratio value of 0.54, NRC is not doing good in the industry: 90.29% of the companies in the same industry are doing better.
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.
NRC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.70% yearly.
The Revenue has decreased by -4.16% in the past year.
The Revenue has been growing slightly by 2.25% on average over the past years.
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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3

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 16.06, the valuation of NRC can be described as correct.
76.70% of the companies in the same industry are more expensive than NRC, based on the Price/Earnings ratio.
NRC is valuated rather cheaply when we compare the Price/Earnings ratio to 27.28, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 16.06
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

Based on the Enterprise Value to EBITDA ratio, NRC is valued a bit cheaper than 66.02% of the companies in the same industry.
NRC's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 25.23
EV/EBITDA 10.56
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

NRC has a Yearly Dividend Yield of 2.96%.
NRC's Dividend Yield is rather good when compared to the industry average which is at 2.37. NRC pays more dividend than 95.15% of the companies in the same industry.
NRC's Dividend Yield is a higher than the S&P500 average which is at 2.42.
Industry RankSector Rank
Dividend Yield 2.96%

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 46.75% of its income as dividend. This is a bit on the high side, but may be sustainable.
The Dividend Rate of NRC has been decling, while earnings will also be 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 (7/2/2025, 8:00:02 PM)

After market: 16.55 +0.01 (+0.06%)

16.54

-0.13 (-0.78%)

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)08-11 2025-08-11
Inst Owners51.11%
Inst Owner Change-3.56%
Ins Owners9.62%
Ins Owner Change10.88%
Market Cap376.95M
Analysts45
Price TargetN/A
Short Float %3.91%
Short Ratio4.94
Dividend
Industry RankSector Rank
Dividend Yield 2.96%
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 16.06
Fwd PE N/A
P/S 2.67
P/FCF 25.23
P/OCF 12.89
P/B 12.7
P/tB N/A
EV/EBITDA 10.56
EPS(TTM)1.03
EY6.23%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)0.66
FCFY3.96%
OCF(TTM)1.28
OCFY7.76%
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 3.75
F-Score5
WACC8.33%
ROIC/WACC3.21
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%