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%
Market cap
$466.9M
P/E
80.6×
Fwd P/E
4.9×
Dividend yield
3.18%
F-score
6/9
Altman Z
3.33
Beneish M
−3.10
Dividend safety
45/100
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
ROE
26.13% 26.55% 55.07% 124.28% 76.54% 50.07% 40.41% 51.18% 61.77% 49.88%
ROA
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

Fold the line items

Columns are period end dates