National Research Corp (NRC)
NASDAQ:NRC
Top Page
National Research
(NASDAQ:NRC)
Select Model
Select Model
Rating:46Neutral
Price Target:
$16.00
▼(-17.91% Downside)
Action:ReiteratedDate:03/05/26
The score is primarily held back by deteriorating financial performance (declining revenue and margin compression) and elevated balance-sheet leverage, alongside bearish technical momentum (price below key moving averages and negative MACD). These negatives are only partially offset by positive free cash flow, a ~4% dividend yield, and a constructive corporate update showing record recurring contract value growth.
Positive Factors
Recurring Revenue Momentum
A record Total Recurring Contract Value increases revenue visibility and reduces volatility by locking in predictable renewals. Strengthening contract value signals deeper client relationships and supports durable, subscription-like revenue that cushions the business against cyclical swings and aids multi-quarter planning.
Negative Factors
Revenue Decline & Margin Compression
A falling revenue trend paired with substantial net margin erosion weakens operating leverage and long-term cash generation. Persistent top-line contraction and margin compression can signal pricing pressure, adverse mix, or competitive losses, limiting reinvestment capacity and undermining sustainable profit growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Revenue Momentum
A record Total Recurring Contract Value increases revenue visibility and reduces volatility by locking in predictable renewals. Strengthening contract value signals deeper client relationships and supports durable, subscription-like revenue that cushions the business against cyclical swings and aids multi-quarter planning.
Read all positive factors
National Research (NRC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$374.86M
Dividend Yield2.52%
Average Volume (3M)102.91K
Price to Earnings (P/E)36.2
Beta (1Y)0.60
Revenue Growth-3.50%
EPS Growth-37.46%
CountryUS
Employees368
SectorHealthcare
Sector Strength45
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.08
Shares Outstanding22,746,397
10 Day Avg. Volume100,181
30 Day Avg. Volume102,911
Financial Highlights & Ratios
PEG Ratio-0.72
Price to Book (P/B)30.03
Price to Sales (P/S)3.06
P/FCF Ratio26.69
Enterprise Value/Market Cap1.20
Enterprise Value/Revenue3.27
Enterprise Value/Gross Profit5.81
Enterprise Value/Ebitda14.88
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 inf...
How the Company Makes Money
null...
National Research Earnings Call Summary
Earnings Call Date:May 07, 2024
(Q1-2024)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted the company's strategic plans to expand its market and integrate innovative AI solutions, with positive organizational changes and financial management. However, financial results were flat year-over-year, and there is an expectation of increased net debt due to ongoing investments.Positive Updates
Expansion Goals and Strategy
The company aims to double the total addressable market through portfolio additions, acquisitions, and partnerships, with a focus on double-digit annual revenue growth and expanding margins.
Negative Updates
Flat Year-over-Year Financial Results
The financial results were consistent with expectations but relatively flat year-over-year, indicating no significant revenue growth in the short term.
Read all updates
Q1-2024 Updates
Positive
Negative
Expansion Goals and Strategy
The company aims to double the total addressable market through portfolio additions, acquisitions, and partnerships, with a focus on double-digit annual revenue growth and expanding margins.
Read all positive updates
Company Guidance
During National Research Corporation's Q1 2024 earnings call, the company outlined ambitious financial goals, including doubling their total addressable market through strategic portfolio additions, acquisitions, and partnerships, and achieving double-digit annual revenue growth. The company aims to expand its margins and create significant value for investors by leveraging its health care DNA and innovative technologies. With plans to enhance enterprise-wide experience solutions and apply a generative AI overlay across their offerings, NRC is focused on providing actionable insights that improve client revenue and costs. Despite flat financial results year-over-year, operating cash flows increased from $8 million to $12 million compared to the previous year, with $18 million returned to stockholders through dividends and stock repurchases. The company maintains a net debt of $40 million as of March 31, 2024, and plans to continue funding growth investments while ensuring financial flexibility for future opportunities.National Research Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
22
Negative
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 137.39M | 143.06M | 148.58M | 151.57M | 147.95M |
| Gross Profit | 77.39M | 86.13M | 92.56M | 94.52M | 95.60M |
| EBITDA | 30.23M | 41.31M | 45.98M | 49.30M | 56.66M |
| Net Income | 11.60M | 24.78M | 30.97M | 31.80M | 37.47M |
Balance Sheet | |||||
| Total Assets | 134.88M | 132.54M | 122.44M | 130.46M | 157.54M |
| Cash, Cash Equivalents and Short-Term Investments | 4.14M | 4.23M | 6.65M | 25.03M | 54.36M |
| Total Debt | 79.03M | 64.41M | 38.96M | 23.39M | 28.68M |
| Total Liabilities | 120.89M | 101.25M | 73.48M | 58.43M | 72.20M |
| Stockholders Equity | 13.99M | 31.28M | 48.95M | 72.03M | 85.34M |
Cash Flow | |||||
| Free Cash Flow | 15.74M | 19.18M | 22.33M | 26.43M | 40.83M |
| Operating Cash Flow | 26.45M | 34.63M | 38.11M | 36.27M | 46.34M |
| Investing Cash Flow | -10.71M | -20.28M | -15.78M | -9.84M | -8.51M |
| Financing Cash Flow | -15.84M | -16.76M | -40.71M | -55.58M | -18.16M |
National Research Technical Analysis
Neutral
19.49
Price Trends
15.65
Positive
16.96
Negative
15.48
Positive
Market Momentum
0.34
Positive
48.39
Neutral
35.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRC, the sentiment is Neutral. The current price of 19.49 is above the 20-day moving average (MA) of 17.14, above the 50-day MA of 15.65, and above the 200-day MA of 15.48, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 48.39 is Neutral, neither overbought nor oversold. The STOCH value of 35.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NRC.
National Research Risk Analysis
National Research disclosed 24 risk factors in its most recent earnings report. National Research reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
National Research Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $230.31M | 17.11 | 10.63% | 9.67% | 1.47% | 11.33% | |
67 Neutral | $262.71M | 13.59 | -49.30% | ― | 13.09% | -745.95% | |
66 Neutral | $115.01M | 44.33 | 4.22% | ― | 24.19% | ― | |
55 Neutral | $268.02M | 73.44 | 3.23% | ― | 3.75% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $374.86M | 36.22 | 58.50% | 2.52% | -3.50% | -37.46% | |
43 Neutral | $73.31M | -0.94 | -54.67% | ― | 4.64% | -17.17% |
* Healthcare Sector Average
NRC
National Research
16.48
6.06
58.14%
TBRG
TruBridge
17.98
-6.24
-25.76%
SLP
Simulations Plus
13.04
-21.12
-61.83%
SPOK
Spok Holdings
11.11
-2.98
-21.12%
OPRX
OptimizeRx
6.13
-2.20
-26.41%
HCAT
Health Catalyst
1.00
-2.84
-74.06%
National Research Corporate Events
Business Operations and StrategyFinancial Disclosures
National Research Hits Record Recurring Contract Value Milestone
Positive
Mar 5, 2026
On March 4, 2026, NRC Health reported that its Total Recurring Contract Value surpassed $152 million, an all‑time high for the company and a 6% increase from the end of 2025. The figure also marked 13% year‑over‑year growth and r...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.