Saturday 17 October 2026
Export NRC’s income statement to Excel — free account
National Research Corporation
NRC Healthcare Health Information Services
National Research Corporation’s revenue for fiscal 2025 (year ended December 2025) was $137.4 million, down 3.96% from fiscal 2024. In the quarter to June 2026, revenue grew 3.98%, EPS fell 3,091.5%, free cash flow grew 101.5% and total debt rose 11.7%, each against the same quarter a year earlier. Dividend growth for three consecutive years; insiders bought in the last twelve months.
20.15
0.96
−4.55%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
22.19 | 38.95 | 32.07 | 50.34 | 28.89 | 28.24 | 30.41 | 32.70 | 16.80 | 37.15 |
Piotroski F-Score |
9 | 7 | 6 | 9 | 6 | 6 | 6 | 6 | 4 | 6 |
Altman Z-Score |
10.05 | 17.43 | 7.57 | 13.78 | 10.96 | 10.70 | 11.71 | 9.75 | 4.11 | 3.33 |
P/S ratio |
4.16 | 7.60 | 8.63 | 12.78 | 8.04 | 7.13 | 6.40 | 6.80 | 2.92 | 3.06 |
P/FCF ratio |
19.91 | 37.99 | 30.50 | 45.11 | 29.36 | 25.85 | 36.71 | 45.27 | 21.80 | 26.69 |
Altman Z″-Score (non-manufacturers) |
6.82 | 7.36 | (1.92) | (0.23) | 2.73 | 4.03 | 3.58 | 1.45 | 0.88 | 0.03 |
Beneish M-Score |
(2.54) | (2.47) | (3.65) | (2.84) | (2.34) | (2.79) | (2.46) | (2.99) | (2.99) | (3.10) |
P/Operating CF |
51.60 | 135.18 | 74.27 | 136.98 | 66.35 | 87.42 | 119.72 | 86.36 | 65.55 | 58.52 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 45 |
P/B ratio |
5.50 | 9.92 | 54.14 | 49.74 | 16.73 | 12.37 | 13.47 | 20.65 | 13.37 | 30.03 |
Price to Tangible BV |
20.87 | 30.55 | 0.00 | 0.00 | 190.45 | 48.12 | 110.15 | 0.00 | 0.00 | 0.00 |
EV/Sales |
3.87 | 7.31 | 8.81 | 12.91 | 7.98 | 6.92 | 6.35 | 6.96 | 3.30 | 3.57 |
EV/EBITDA |
11.95 | 22.14 | 25.88 | 34.01 | 21.28 | 18.07 | 18.58 | 22.48 | 11.44 | 16.20 |
EV/Operating CF |
15.76 | 30.58 | 26.46 | 40.38 | 26.28 | 22.08 | 26.55 | 27.13 | 13.63 | 18.56 |
EV/FCF |
18.50 | 36.52 | 31.12 | 45.56 | 29.14 | 25.07 | 36.43 | 46.29 | 24.60 | 31.19 |
Quick Ratio |
1.44 | 1.54 | 0.54 | 0.66 | 1.57 | 1.70 | 1.20 | 0.53 | 0.43 | 0.43 |
Current Ratio |
1.49 | 1.62 | 0.60 | 0.76 | 1.71 | 1.83 | 1.31 | 0.67 | 0.55 | 0.55 |
Net Debt/EBITDA |
(0.91) | (0.90) | 0.52 | 0.34 | (0.16) | (0.57) | (0.14) | 0.50 | 1.30 | 2.34 |
Debt/Assets |
0.71% | 0.00% | 31.64% | 26.92% | 19.90% | 14.14% | 13.56% | 24.07% | 43.68% | 55.62% |
Debt/Equity |
0.01 | 0.00 | 1.79 | 0.91 | 0.41 | 0.26 | 0.25 | 0.60 | 1.85 | 5.36 |
Asset Turnover |
0.88 | 0.95 | 1.02 | 1.17 | 1.10 | 1.02 | 1.05 | 1.18 | 1.12 | 1.03 |
Operating CF/Net income |
1.31 | 1.22 | 1.33 | 1.27 | 1.09 | 1.24 | 1.14 | 1.23 | 1.40 | 2.34 |
Capex/Depreciation |
(0.94) | (1.05) | (1.09) | (0.84) | (0.53) | (0.87) | (1.86) | (2.66) | (2.55) | (1.39) |
Interest Coverage |
164.19 | 417.30 | 23.31 | 20.58 | 23.54 | 30.16 | 38.50 | 46.46 | 13.56 | 4.74 |
| 26.13% | 26.55% | 55.07% | 124.28% | 76.54% | 50.07% | 40.41% | 51.18% | 61.77% | 49.88% | |
| 16.50% | 18.51% | 25.53% | 29.53% | 30.48% | 25.75% | 22.08% | 24.49% | 19.44% | 8.45% | |
ROIC |
38.50% | 38.67% | 54.75% | 54.70% | 47.48% | 59.01% | 44.96% | 34.87% | 25.89% | 16.64% |
Return on Tangible Assets |
75.00% | 71.01% | (660.95%) | 712.64% | 108.92% | 81.96% | 115.44% | 189.24% | 112.58% | 46.93% |
Average Days of Receivables |
41.46 | 47.13 | 37.42 | 33.39 | 41.35 | 35.72 | 36.59 | 30.80 | 28.56 | 30.91 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
25.95% | 25.25% | 26.21% | 25.76% | 25.74% | 26.33% | 28.17% | 31.38% | 31.39% | 39.89% |
Intangible Assets out of Total Assets |
0.51 | 0.48 | 0.55 | 0.54 | 0.44 | 0.40 | 0.48 | 0.52 | 0.52 | 0.51 |
Share Based Compensation of Revenue |
1.76% | 1.57% | 1.26% | 0.96% | 0.51% | 0.42% | 0.79% | 0.63% | 0.20% | 2.41% |
Graham Net Nets |
0.02 | 0.02 | (0.06) | (0.03) | (0.01) | 0.00 | (0.02) | (0.05) | (0.20) | (0.24) |
Graham Number |
8.07 | 8.88 | 4.34 | 6.25 | 9.22 | 10.54 | 9.12 | 7.52 | 5.58 | 2.67 |
Earnings Yield |
4.51% | 2.57% | 3.12% | 1.99% | 3.46% | 3.54% | 3.29% | 3.06% | 5.95% | 2.69% |
Free Cash Flow Yield |
5.02% | 2.63% | 3.28% | 2.22% | 3.41% | 3.87% | 2.72% | 2.21% | 4.59% | 3.75% |
Revenue per Share |
4.52 | 4.84 | 4.42 | 5.16 | 5.32 | 5.82 | 6.08 | 6.05 | 6.04 | 6.14 |
Operating CF per Share |
1.11 | 1.16 | 1.47 | 1.65 | 1.61 | 1.82 | 1.46 | 1.55 | 1.46 | 1.18 |
Capex per Share |
(0.16) | (0.20) | (0.22) | (0.19) | (0.16) | (0.22) | (0.39) | (0.64) | (0.65) | (0.48) |
Free Cash Flow per Share |
0.94 | 0.96 | 1.25 | 1.46 | 1.46 | 1.61 | 1.06 | 0.91 | 0.81 | 0.70 |
Cash per Share |
1.36 | 1.43 | 0.48 | 0.54 | 1.38 | 2.14 | 1.00 | 0.27 | 0.18 | 0.18 |
Shareholders Equity per Share |
3.42 | 3.71 | 0.70 | 1.33 | 2.56 | 3.36 | 2.89 | 1.99 | 1.32 | 0.63 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
3.42 | 3.71 | 0.70 | 1.33 | 2.56 | 3.36 | 2.89 | 1.99 | 1.32 | 0.63 |
Free Cash Flow |
22.87 | 23.27 | 33.88 | 36.26 | 36.65 | 40.83 | 26.43 | 22.34 | 19.18 | 15.74 |
Working Capital |
15.55 | 19.95 | (18.70) | (9.00) | 22.43 | 33.32 | 10.30 | (11.84) | (16.26) | (16.41) |
Capital Expenditures |
(3.97) | (4.82) | (5.97) | (4.66) | (3.98) | (5.51) | (9.83) | (15.78) | (15.45) | (10.71) |
Net Current Asset Value |
9.25 | 14.98 | (60.54) | (48.64) | (15.00) | 1.50 | (14.71) | (49.12) | (81.65) | (100.68) |
EV/EBIT |
13.56 | 25.11 | 29.89 | 38.39 | 25.02 | 20.36 | 20.69 | 25.82 | 13.41 | 21.74 |
Capex to Sales |
0.04 | 0.04 | 0.05 | 0.04 | 0.03 | 0.04 | 0.06 | 0.11 | 0.11 | 0.08 |
Price to Operating Income |
14.59 | 26.12 | 29.29 | 38.01 | 25.21 | 21.00 | 20.85 | 25.25 | 11.88 | 18.60 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.36 | 0.37 | 0.39 | 0.41 | 0.64 | 0.51 | 0.31 | 0.21 | 0.16 | 0.19 |
Cash ROIC |
19.60% | 18.65% | 51.14% | 47.58% | 29.19% | 25.21% | 23.03% | 26.25% | 20.53% | 16.90% |
Accounts Receivable Turnover |
9.18 | 8.52 | 8.72 | 10.68 | 9.96 | 9.98 | 10.22 | 10.72 | 12.06 | 12.04 |
Accounts Payable Turnover |
66.10 | 72.27 | 78.90 | 49.09 | 41.44 | 34.46 | 36.85 | 45.65 | 45.64 | 44.33 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
6.13 | 4.41 | 4.70 | 10.05 | 8.13 | 13.55 | 7.38 | 8.48 | 7.65 | 8.15 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
11.91 | 13.80 | 13.73 | 11.99 | 13.43 | 14.82 | 14.84 | 13.87 | 11.87 | 11.42 |
Average Payables |
0.69 | 0.68 | 0.60 | 0.95 | 1.19 | 1.52 | 1.55 | 1.23 | 1.25 | 1.18 |
Average Assets |
124.34 | 123.97 | 117.67 | 109.36 | 122.05 | 145.48 | 144.00 | 126.45 | 127.49 | 133.71 |
Average Common Equity |
78.51 | 86.42 | 54.56 | 25.99 | 48.60 | 74.83 | 78.69 | 60.49 | 40.12 | 22.64 |
Columns are period end dates