National Research (NRC) AI Stock Analysis

• Market Cap: $305.59M
• Dividend Yield: 3.62%
• Average Volume (3M): 95.98K
• Price to Earnings (P/E): 18.8
• Beta (1Y): 0.81
• Revenue Growth: -3.50%
• EPS Growth: -36.95%
• 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: 1.49
• 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

• Rating: 62 Neutral
• Price Target: $14.00 ▲(5.66% Upside)

The overall stock score of 62 reflects the company's operational efficiency and strong cash flow generation, which are offset by declining revenue and increased financial leverage. The stock's technical indicators suggest a bearish trend, while its valuation is reasonable with an attractive dividend yield.

National Research Business Overview & Revenue Model

Company Description

National Research Corporation (NRC) is a leading provider of data-driven insights and analytics in the healthcare sector, specializing in patient experience measurement, employee engagement, and market research. With a commitment to improving healthcare quality, NRC offers a suite of core services that include survey administration, benchmarking, and consulting solutions, aiming to enhance organizational performance and patient outcomes across various healthcare settings.

How the Company Makes Money

NRC generates revenue primarily through subscription-based services and fees for its market research and consulting solutions. Key revenue streams include the sale of proprietary surveys to healthcare organizations, allowing them to measure patient satisfaction and employee engagement. Additionally, NRC earns income from customized research projects and ongoing analytics services that help clients interpret and act on survey data. Significant partnerships with healthcare providers, academic institutions, and industry associations enhance NRC's market reach and credibility, driving further earnings through collaborative research initiatives and shared data insights.

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.

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	51.83M	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	62.68M	38.96M	22.18M	26.55M	30.61M
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: 13.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 13.25 is above the 20-day moving average (MA) of 11.90, below the 50-day MA of 13.76, and below the 200-day MA of 14.26, indicating a neutral trend. The MACD of -0.45 indicates Negative momentum. The RSI at 58.69 is Neutral, neither overbought nor oversold. The STOCH value of 50.85 is Neutral, 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	―	$337.90M	19.86	11.03%	7.62%	1.79%	8.48%
OPRX	―	$402.49M	―	-8.21%	―	25.90%	46.13%
SLP	―	$368.53M	-5.83	-41.49%	0.33%	20.01%	-750.59%
NRC	―	$305.59M	18.81	66.53%	3.62%	-3.50%	-36.95%
TBRG	―	$293.03M	-23.13	-6.81%	―	3.42%	77.05%
HCAT	―	$237.86M	―	-28.42%	―	5.55%	-0.99%
Sector *	―	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

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.

NRC Health Reports Positive Trends in Q2 2025

National Research Corporation, operating as NRC Health, is a company dedicated to humanizing healthcare through its unique approach to understanding patient experiences and preferences. It operates primarily in the healthcare sector, providing market research and consumer insights to healthcare systems.