National Research (NRC) AI Stock Analysis

• Market Cap: $317.82M
• Dividend Yield: 3.62%
• Average Volume (3M): 95.98K
• Price to Earnings (P/E): 19.6
• Beta (1Y): 0.83
• Revenue Growth: -3.50%
• EPS Growth: -37.46%
• Country: US
• Employees: 368
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): 0.18
• Shares Outstanding: 23,063,517
• 10 Day Avg. Volume: 96,974
• 30 Day Avg. Volume: 95,979
• PEG Ratio: -1.01
• Price to Book (P/B): 13.38
• Price to Sales (P/S): 2.92
• P/FCF Ratio: 21.82
• Enterprise Value/Market Cap: 1.44
• Enterprise Value/Revenue: 3.28
• Enterprise Value/Gross Profit: 5.65
• Enterprise Value/Ebitda: 13.20
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: $16.50 ▲(2.80% Upside)

The overall stock score of 68 reflects a balanced view of National Research's current position. The company's strong technical momentum and reasonable valuation are significant positives. However, financial performance concerns, particularly around declining revenue and increased leverage, weigh on the score. Investors should monitor financial stability and revenue growth closely.

National Research Business Overview & Revenue Model

Company Description

National Research Corporation provides analytics and insights that facilitate measurement and enhancement of the patient and employee experience in the United States and Canada. Its portfolio of subscription-based solutions provides actionable information and analysis to healthcare organizations across a range of mission-critical, constituent-related elements, including patient experience, service recovery, care transitions, health risk assessments, employee engagement, reputation management, and brand loyalty. The company also offers market insights solutions that allow the tracking of awareness, perception, and consistency of healthcare brands; assessment of competitive differentiators; and enhanced segmentation tools to evaluate needs, wants, and behaviors of communities through real-time competitive assessments and enhanced segmentation tools. In addition, it provides experience solutions, such as patient and resident experience, workforce engagement, health risk assessments, transitions, and improvement tools. Further, the company offers health risk assessment solutions that enable clients to segment populations and manage care for those who are most at risk, engage individuals, enhance preventative care, and manage wellness programs; and transitions solutions, which enable organizations to identify and manage high-risk patients to reduce readmissions, enhance patient satisfaction and support safe care transitions. Additionally, it provides transparency solutions that allow healthcare organizations to share picture of their organization and ensure content informs in consumer decision-making; and governance solutions for not-for-profit hospital and health system boards of directors, executives, and physician leadership. The company serves integrated health systems, post-acute providers, and payer organizations. National Research Corporation was founded in 1981 and is headquartered in Lincoln, Nebraska.

How the Company Makes Money

National Research Corporation generates revenue primarily through subscription-based services and consulting engagements. The company offers various subscription plans for access to its proprietary data and analytics platforms, which provide clients with insights into patient and employee experiences. Key revenue streams include fees from survey administration, data analysis, and reporting services. NRC also earns revenue from custom research projects and consulting services that help healthcare organizations implement strategies based on the data provided. Partnerships with healthcare providers, hospitals, and other organizations enhance its market reach and bolster its credibility, contributing significantly to its earnings.

National Research Financial Statement Overview

Summary

National Research faces challenges with declining revenue and profitability, coupled with increased financial leverage, which raises concerns about financial stability. However, the company demonstrates operational efficiency and strong cash flow generation, which could support future recovery efforts. The company should focus on improving revenue growth and managing leverage to enhance financial health.

Income Statement

The income statement shows a declining trend in revenue and profitability. The TTM data indicates a negative revenue growth rate of -0.86%, and margins have decreased compared to previous years. Gross profit margin and net profit margin have both declined, reflecting reduced efficiency and profitability. However, the company maintains a reasonable EBIT and EBITDA margin, suggesting operational efficiency despite revenue challenges.

Balance Sheet

The balance sheet reveals a significant increase in leverage, with the debt-to-equity ratio rising to 5.59 in the TTM period, indicating potential financial risk. Return on equity has decreased, reflecting reduced profitability for shareholders. The equity ratio has also declined, suggesting a lower proportion of assets financed by equity. These factors point to increased financial risk and reduced stability.

Cash Flow

Cash flow analysis shows a positive trend in free cash flow growth, with a 25.33% increase in the TTM period. The operating cash flow to net income ratio remains healthy, indicating strong cash generation relative to net income. However, the free cash flow to net income ratio has decreased, suggesting potential challenges in maintaining cash flow levels relative to profitability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	139.10M	143.06M	148.58M	151.57M	147.95M	133.28M
Gross Profit	80.84M	86.13M	92.56M	94.52M	95.60M	84.09M
EBITDA	34.57M	41.31M	45.98M	49.30M	56.66M	50.78M
Net Income	16.36M	24.78M	30.97M	31.80M	37.47M	37.26M
Balance Sheet
Total Assets	135.72M	132.54M	122.44M	130.46M	157.54M	133.42M
Cash, Cash Equivalents and Short-Term Investments	2.22M	4.23M	6.65M	25.03M	54.36M	34.69M
Total Debt	80.04M	64.41M	38.96M	23.39M	28.68M	33.24M
Total Liabilities	121.41M	101.25M	73.48M	58.43M	72.20M	69.11M
Stockholders Equity	14.31M	31.28M	48.95M	72.03M	85.34M	64.31M
Cash Flow
Free Cash Flow	11.62M	19.18M	22.33M	26.43M	40.83M	36.65M
Operating Cash Flow	25.65M	34.63M	38.11M	36.27M	46.34M	40.64M
Investing Cash Flow	-14.03M	-20.28M	-15.78M	-9.84M	-8.51M	-3.72M
Financing Cash Flow	-12.86M	-16.76M	-40.71M	-55.58M	-18.16M	-15.50M

National Research Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 16.05
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRC, the sentiment is Positive. The current price of 16.05 is above the 20-day moving average (MA) of 13.88, above the 50-day MA of 13.56, and above the 200-day MA of 14.09, indicating a bullish trend. The MACD of 0.80 indicates Negative momentum. The RSI at 73.57 is Negative, neither overbought nor oversold. The STOCH value of 89.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NRC.

National Research Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SPOK	72 Outperform	$283.64M	17.21	10.88%	9.95%	1.47%	11.33%
NRC	68 Neutral	$317.82M	19.57	66.01%	3.62%	-3.50%	-37.46%
SLP	63 Neutral	$341.76M	―	-41.49%	0.35%	20.01%	-750.59%
OPRX	61 Neutral	$275.70M	―	0.03%	―	24.19%	―
TBRG	59 Neutral	$288.37M	-22.76	1.57%	―	3.75%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
HCAT	45 Neutral	$158.44M	―	-31.33%	―	4.64%	-17.17%

National Research Corporate Events

NRC Health Reports Strong Q3 2025 Performance

National Research Corporation, operating as NRC Health, is a prominent player in the healthcare sector, specializing in healthcare experience improvement solutions. The company is known for its commitment to enhancing patient and employee experiences through insightful data and engagement strategies.

National Research Appoints New CFO Shane Harrison

On August 25, 2025, National Research Corporation announced the appointment of Shane Harrison as Executive Vice President and Chief Financial Officer, effective September 25, 2025. Harrison, with over 25 years of experience in finance and strategic transactions, is expected to drive NRC Health’s growth and profitability. His compensation package includes a base salary, signing bonus, and restricted shares, with vesting conditions tied to his continued employment and potential change in control scenarios.

The most recent analyst rating on (NRC) stock is a Buy with a $17.00 price target. To see the full list of analyst forecasts on National Research stock, see the NRC Stock Forecast page.