National Research (NRC) AI Stock Analysis

• Market Cap: $290.97M
• Dividend Yield: 3.76%
• Average Volume (3M): 92.78K
• Price to Earnings (P/E): 12.4
• Beta (1Y): 0.49
• Revenue Growth: -4.15%
• EPS Growth: -17.17%
• Country: US
• Employees: 368
• Sector: Healthcare
• Sector Strength: 60
• Industry: Medical - Healthcare Information Services
• EPS (TTM): 0.25
• Shares Outstanding: 22,785,421
• 10 Day Avg. Volume: 93,532
• 30 Day Avg. Volume: 92,775
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.23
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 4.14
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

National Research's overall stock score of 52 reflects significant financial challenges, particularly in profitability and balance sheet transparency, despite strong cash flows. The bearish technical trend poses short-term risks. However, the attractive valuation and positive corporate events, including leadership changes and a share repurchase program, provide some resilience and potential for future improvement.

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

NRC generates revenue through a subscription-based model for its analytics and insights services, which are offered to hospitals, healthcare systems, and other healthcare providers. Key revenue streams include licensing fees for access to its software platforms, consulting services for healthcare performance improvement, and sales of its proprietary market research reports. Additionally, the company maintains strategic partnerships with healthcare organizations, which contribute to its earnings by expanding its client base and enhancing its service offerings.

National Research Financial Statement Overview

Summary

National Research faces notable challenges, particularly in profitability and balance sheet transparency in 2024. Although the company has exhibited operational strength through its cash flows, declining revenues and net income, coupled with unclear equity and debt positions, raise concerns about its financial health. Strategic adjustments may be necessary to bolster profitability and improve financial clarity.

Income Statement

The income statement reveals a declining revenue trend over the past few years, with revenue dropping from $151.6 million in 2022 to $143.1 million in 2024. Despite this, the company has maintained a strong gross profit margin, consistently at or near 100% in recent years. However, the net profit margin has been under pressure, dropping to zero in 2024, indicating significant challenges in converting sales into profit.

Balance Sheet

The balance sheet shows a precarious financial position in 2024, with stockholders' equity and total debt both at zero, suggesting potential inaccuracies or major structural changes. Historically, the company had a reasonable debt-to-equity ratio and a positive equity position, but current figures prevent a meaningful analysis of leverage and capital structure.

Cash Flow

Cash flow analysis indicates healthy operating cash flow with a positive free cash flow figure despite a decrease from past years. The free cash flow to net income ratio cannot be calculated for 2024 due to zero net income, but historically, the company has generated strong free cash flows, supporting operational resilience.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
143.06M	148.58M	151.57M	147.95M	133.28M
	Gross Profit
86.13M	92.56M	94.52M	95.60M	84.09M
	EBIT
35.19M	40.05M	46.54M	50.27M	42.68M
	EBITDA
41.31M	45.98M	51.83M	56.66M	50.78M
	Net Income Common Stockholders
24.78M	30.97M	31.80M	37.47M	37.26M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
4.23M	6.65M	25.03M	54.36M	34.69M
	Total Assets
132.54M	122.44M	130.46M	157.54M	133.42M
	Total Debt
62.68M	38.96M	22.18M	26.55M	30.61M
	Net Debt
58.45M	32.30M	-2.85M	-27.81M	-4.08M
	Total Liabilities
101.25M	73.48M	58.43M	72.20M	69.11M
	Stockholders Equity
31.28M	48.95M	72.03M	85.34M	64.31M
Cash Flow		Free Cash Flow
19.18M	22.33M	26.43M	40.83M	36.65M
	Operating Cash Flow
34.63M	38.11M	36.27M	46.34M	40.64M
	Investing Cash Flow
-20.28M	-15.78M	-9.84M	-8.51M	-3.72M
	Financing Cash Flow
-16.76M	-40.71M	-55.58M	-18.16M	-15.50M

National Research Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 12.78
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRC, the sentiment is Negative. The current price of 12.78 is above the 20-day moving average (MA) of 11.32, below the 50-day MA of 12.97, and below the 200-day MA of 17.80, indicating a neutral trend. The MACD of -0.16 indicates Negative momentum. The RSI at 56.66 is Neutral, neither overbought nor oversold. The STOCH value of 87.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NRC.

National Research Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TCMD	74 Outperform	$333.21M	20.07	8.27%	―	6.76%	-41.38%
VMD	71 Outperform	$291.29M	26.68	9.19%	―	22.54%	8.55%
NRC	52 Neutral	$290.97M	12.42	72.68%	3.76%	-4.15%	-17.17%
Sector *	52 Neutral	$5.35B	3.83	-41.61%	2.85%	17.10%	1.22%
HUMA	42 Neutral	$203.21M	―	239.90%	―	―	-17.92%
CRVS	41 Neutral	$246.65M	―	-174.85%	―	―	-71.53%

National Research Corporate Events

NRC Health Announces Q1 Results and Share Repurchase

On April 28, 2025, NRC Health announced its first quarter results, highlighting a sequential increase in total recurring contract value, expansion of its sales force, and a new share repurchase program. The company also declared a quarterly cash dividend and completed a prior share repurchase program. These developments reflect NRC Health’s strategic focus on revenue growth and shareholder returns, with significant contributions from its leadership team.

Spark’s Take on NRC Stock

According to Spark, TipRanks’ AI Analyst, NRC is a Neutral.

National Research Corporation’s stock score reflects significant financial challenges, particularly in profitability and balance sheet transparency. However, strong cash flows and a low valuation indicate some resilience. Recent leadership changes offer potential for future improvement, but technical analysis currently shows a bearish trend, highlighting short-term risks. The valuation remains attractive, providing a buffer against these challenges.

To see Spark’s full report on NRC stock, click here.

National Research Appoints New Financial Officer

On April 18, 2025, National Research Corporation’s board appointed Michael D. Hays as the principal financial officer while retaining his role as the principal executive officer until Trent Green assumes the CEO position on June 1, 2025. Additionally, Jordan N. Freeman was appointed as the Chief Accounting Officer, with no changes in compensation for these roles. These appointments are part of the company’s strategic leadership transition.

Spark’s Take on NRC Stock

According to Spark, TipRanks’ AI Analyst, NRC is a Neutral.

National Research Corporation’s stock score reflects significant financial challenges, particularly in profitability and balance sheet transparency. However, strong cash flows and a low valuation indicate some resilience. Recent leadership changes offer potential for future improvement, but technical analysis currently shows a bearish trend, highlighting short-term risks. The valuation remains attractive, providing a buffer against these challenges.

To see Spark’s full report on NRC stock, click here.

National Research Approves New Executive Compensation Program

On April 3, 2025, National Research Corporation’s Compensation and Talent Committee approved a new compensation program for its executive officers, excluding Trent Green and Michael D. Hays. This decision aligns with the strategic changes following Trent Green’s appointment as CEO, effective June 1, 2025. The new compensation package for Helen L. Hrdy, Chief Operating Officer, includes a grant of 100,000 shares of common stock with specific restrictions, a cash bonus, and a severance arrangement. Similar adjustments were made for Andrew Monnich, Chief Corporate Development Officer, while Michael D. Hays’ compensation remained unchanged.

Spark’s Take on NRC Stock

According to Spark, TipRanks’ AI Analyst, NRC is a Neutral.

National Research’s stock score reflects significant financial challenges, particularly in profitability and balance sheet clarity. While technical indicators suggest a bearish trend, the company’s valuation metrics, including a moderate P/E ratio and strong dividend yield, provide some upside potential. The new CEO appointment may drive future growth, but immediate financial hurdles remain a key risk.

To see Spark’s full report on NRC stock, click here.

National Research Appoints Trent Green as CEO

On February 26, 2025, National Research Corporation announced the appointment of Trent Green as the new Chief Executive Officer, effective June 1, 2025. Green, who has extensive experience in healthcare leadership, will succeed Mike Hays, who will transition to the role of Chairman. This leadership change is expected to drive NRC Health’s growth and innovation in the healthcare sector, building on its legacy of excellence and transparency.