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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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

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.10

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	1	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 43.07%

Capital & Financial Ratios $m

Market Cap 466.94

Revenue 140.00

Net Income 5.86

Free Cash Flow 21.64

Net Debt 82.69

Current Ratio 0.65

Debt/Equity 13.13

P/E ratio 80.60

Fwd P/E 4.89

P/S ratio 3.17

P/B ratio 67.72

Past 5Y EPS Growth (19.18%)

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth 3.79%

Next 5Y EPS Growth (7.79%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 97.60%

10-year low 10-year high

P/S against its own 10 years 15.41%

10-year low 10-year high

P/B against its own 10 years 97.60%

10-year low 10-year high

EV/Sales against its own 10 years 26.24%

10-year low 10-year high

EV/FCF against its own 10 years 25.58%

10-year low 10-year high

Dividends

Payout Ratio 2.56

Annual Dividend Rate 0.64

Annual Dividend Yield 3.18%

	total	individual payouts
2026	0.99	0.16 0.16 0.16
2025	0.72	0.12 0.12 0.12 0.16
2024	0.48	0.12 0.12 0.12 0.12
2023	0.48	0.12 0.12 1.00 0.12 0.12
2022	0.84	0.24 0.24 0.24 0.12
2021	0.48	0.12 0.12 0.12 0.12
2020	0.21	0.21
2019	0.78	0.19 0.19 0.19 0.21
2018	0.63	0.10 0.17 0.17 0.19
2017	0.40	0.10 0.10 0.10 0.10
2016	0.34	0.08 0.08 0.08 0.10

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	7	4	4	3
Receivables	13	11	12	14
Inventory	—	—	—	—
Other	1	1	1	0
	24	20	20	23

	2023	2024	2025	Q'26
Payables	1	1	1	1
ST’ Debt	—	—	—	—
Other	1	1	1	0
	36	36	37	35

Compound Annual Growth %

	10y	5y	3y
Sales	2.99%	0.53%	(3.22%)
Cash Flow	1.91%	(8.23%)	(9.99%)
Earnings	(4.35%)	(21.22%)	(29.19%)
Book Value	(15.37%)	(26.29%)	(42.09%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	35	35	—	—	—
’25	34	34	35	35	137
’24	35	35	36	37	143
’23	36	36	38	38	149
’22	38	37	38	38	152
’21	35	36	38	38	148
’20	34	31	34	35	134

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	7	1	—	—	—
’25	7	(1)	14	7	26
’24	12	7	9	6	35
’23	8	9	10	12	38
’22	8	10	10	8	36
’21	14	11	9	12	46
’20	6	8	11	16	41

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	5	0	—	—	—
’25	4	(4)	10	6	16
’24	8	2	8	2	19
’23	5	4	5	8	22
’22	6	8	6	6	26
’21	13	10	8	10	41
’20	5	8	10	15	37

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.14	(0.15)	—	—	—
’25	0.25	0.00	0.18	0.08	0.50
’24	0.27	0.26	0.24	0.28	1.04
’23	0.28	0.29	0.32	0.36	1.25
’22	0.34	0.33	0.33	0.27	1.27
’21	0.36	0.35	0.38	0.38	1.46
’20	0.46	0.30	0.37	0.32	1.45

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	12.53	16.50	26.35	36.51	34.00	39.27	30.93	37.19	16.74	9.76	Analyst estimates 2026–2028 Powerpack
	High	20.00	41.99	42.85	68.86	71.35	55.67	42.96	47.60	42.18	19.39
People
People	Employees	404	430	434	464	485	511	491	435	368	357
	Revenue/emp, $m	0.27	0.27	0.28	0.28	0.28	0.29	0.31	0.34	0.39	0.38
Income, $m
Income, $m	Revenue	109	118	120	128	134	148	152	149	143	137
	Gross margin, %	58.33	58.26	60.25	63.72	63.24	64.62	62.36	62.30	60.20	61.88
	EBT	31	34	35	41	41	49	43	40	33	18
	EBT margin, %	28.67	29.16	29.00	31.66	30.99	32.86	28.25	26.90	22.85	12.99
	Net income	21	23	30	32	37	37	32	31	25	12
	Depreciation	4	5	5	6	8	6	5	6	6	8
Per share, $
Per share, $	Revenue	4.52	4.84	4.42	5.16	5.32	5.82	6.08	6.05	6.04	6.14
	Earnings	0.85	0.94	1.08	1.30	1.48	1.47	1.28	1.26	1.05	0.50
	Cash flow	1.11	1.16	1.47	1.65	1.61	1.82	1.46	1.55	1.46	1.18
	Capex	(0.16)	(0.20)	(0.22)	(0.19)	(0.16)	(0.22)	(0.39)	(0.64)	(0.65)	(0.48)
	Free cash flow	0.94	0.96	1.25	1.46	1.46	1.61	1.06	0.91	0.81	0.70
	Book value	3.42	3.71	0.70	1.33	2.56	3.36	2.89	1.99	1.32	0.63
	Shares, m	24	24	27	25	25	25	25	25	24	22
Valuation, ×
Valuation, ×	P/E	22.19	38.95	32.07	50.34	28.89	28.24	30.41	32.70	16.80	37.15
	P/S	4.16	7.60	8.63	12.78	8.04	7.13	6.40	6.80	2.92	3.06
	P/B	5.50	9.92	54.14	49.74	16.73	12.37	13.47	20.65	13.37	30.03
	EV/Sales	3.87	7.31	8.81	12.91	7.98	6.92	6.35	6.96	3.30	3.57
	EV/FCF	18.50	36.52	31.12	45.56	29.14	25.07	36.43	46.29	24.60	31.19
Cash, $m
Cash, $m	Operating cash flow	27	28	40	41	41	46	36	38	35	26
	Capex	(4)	(5)	(6)	(5)	(4)	(6)	(10)	(16)	(15)	(11)
	Free cash flow	23	23	34	36	37	41	26	22	19	16
Balance, $m
Balance, $m	Working capital	16	20	(19)	(9)	22	33	10	(12)	(16)	(16)
	Total debt	1	1	34	30	27	22	18	29	58	75
	Net debt	(32)	(35)	21	16	(8)	(32)	(7)	23	54	71
	Shareholders’ equity	83	90	19	33	64	85	72	49	31	14
Returns, %
Returns, %	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
	ROE	26.13	26.55	55.07	124.28	76.54	50.07	40.41	51.18	61.77	49.88

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PHR Phreesia, Inc.	$685.3M	64.4×	23.5×	+10.41% (above 0%: growing)	+200.00% (above 0%: growing)	+43.51% (above 0%: growing)	66.64%	5.88%	Compare
MDRX Veradigm Inc.	$654.5M	— (loss-making)	— (loss-making)	−9.74% (below 0%: shrinking)	n/m	−66.33% (below 0%: shrinking)	50.53%	(37.41%)	Compare
SOPH SOPHiA GENETICS SA	$620.6M	— (loss-making)	— (loss-making)	+27.22% (above 0%: growing)	n/m	+6.50% (above 0%: growing)	64.61%	(86.03%)	Compare
WEAV Weave Communications, Inc.	$594.5M	— (loss-making)	— (loss-making)	+15.52% (above 0%: growing)	n/m	+94.33% (above 0%: growing)	72.03%	(6.49%)	Compare
EVH Evolent Health, Inc	$550.6M	— (loss-making)	— (loss-making)	+46.86% (above 0%: growing)	n/m	+58.67% (above 0%: growing)	12.39%	(1.47%)	Compare
NRC National Research Corporation	$466.9M	80.6×	4.9×	+3.98% (above 0%: growing)	n/m	+101.49% (above 0%: growing)	61.67%	(9.15%)
CTEV Claritev Corporation	$404.4M	— (loss-making)	— (loss-making)	+6.59% (above 0%: growing)	n/m	+49.10% (above 0%: growing)	73.72%	9.09%	Compare
CARL Carlsmed, Inc.	$380.9M	— (loss-making)	— (loss-making)	+56.75% (above 0%: growing)	n/m	−6.84% (below 0%: shrinking)	76.78%	(58.27%)	Compare
CSLT Castlight Health, inc.	$332.4M	— (loss-making)	— (loss-making)	−0.86% (below 0%: shrinking)	n/m	+106.49% (above 0%: growing)	66.20%	(5.42%)	Compare
Median of peers	$572.6M	—	—	+12.97%	—	+46.30%	66.42%	(5.95%)

All 51 Health Information Services stocks →

National Research Corporation (NRC) key facts

Concern: National Research Corporation’s revenue for fiscal 2025 (year ended December 2025) was $137.4 million, down 3.96% from fiscal 2024.
National Research Corporation (NRC) is a Health Information Services company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, NRC traded at $20.15, a market capitalization of $466.9 million.
National Research Corporation pays an annual dividend of $0.64 per share, a yield of 3.18%.
Return on equity was 49.9% and debt-to-equity 13.13.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.33 (safe zone) for fiscal 2025.