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