National Research Corporation
NASDAQ•NRC
CEO: Mr. Michael D. Hays
Sector: Healthcare
Industry: Medical - Healthcare Information Services
Listing Date: 2013-05-23
National Research Corporation provides analytics and insights that facilitate measurement and enhancement of the patient and employee experience. 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, employee engagement, reputation management, and brand loyalty. The company also offers marketing 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 experience, employee engagement, health risk assessments, care transition, and improvement tools. Further, the company provides reputation solutions that allow healthcare organizations to share a picture of their organization and ensure that timely and relevant content informs consumer decision-making; and governance solutions for not-for-profit hospital and health system boards of directors, executives, and physician leadership. National Research Corporation was founded in 1981 and is headquartered in Lincoln, Nebraska.
Contact Information
Market Cap
$374.86M
P/E (TTM)
31.0
37.8
Dividend Yield
3.4%
52W High
$22.79
52W Low
$9.76
52W Range
Rank24Top 10.8%
5.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q4 2025 Data
Revenue
$35.19M+0.00%
4-Quarter Trend
EPS
$0.08+0.00%
4-Quarter Trend
FCF
$6.06M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
Leading Indicator TRCV Growth Total Recurring Contract Value reached $144.1M in 2025, increasing 8% over 2024, signaling future revenue potential.
Operating Margin Compression Operating margin fell to 16% in 2025, down 9 points, driven by $6.6M in executive transition bonuses and lower revenue.
Strategic Nobl Acquisition Acquired Nobl Health in Q3 2024 for $6.3M consideration to expand rounding solutions and customer feedback portfolio.
New Credit Facility Secured Secured $110.0M Delayed Draw Term Loan in February 2025, ensuring liquidity for growth and future business acquisitions.
Risk Factors
Revenue Concentration Risk Heavy reliance on contract renewals; top ten customers accounted for 20% of 2025 revenue, impacting operating results.
Intense Market Competition Highly competitive industry faces pricing pressure and increased marketing expenditures against larger rivals like Qualtrics.
Healthcare Regulation Impact Revenue tied to healthcare industry conditions; regulatory changes affecting Medicare/Medicaid could reduce customer demand.
Cybersecurity and Data Risk Exposure to cyber-attacks, ransomware, and data breaches impacting operations, liability, and reputational standing.
Outlook
2026 Growth Expectation Expect revenue, operating margin, and cash flow growth in 2026 due to growing TRCV and lower expense run rate.
Growth Strategy Focus Strategy centers on cross-selling existing solutions, winning new customers, and developing new AI-enabled technologies.
New Leadership Alignment New senior management team appointed across CEO, COO, and CFO roles to execute evolving healthcare experience strategy.
Continued Technology Investment Plan to invest in R&D, including AI, to enhance solutions, though new offerings carry inherent development risks.
Peer Comparison
Revenue (TTM)
$346.84M
$311.14M
$270.28M
Gross Margin (Latest Quarter)
117.1%
69.3%
68.1%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| PBYI | $395.82M | 12.6 | 27.8% | 13.2% |
| NRC | $374.86M | 31.0 | 58.5% | 58.6% |
| VMD | $367.11M | 24.2 | 10.9% | 7.4% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.6%
Moderate Growth
4Q Net Income CAGR
-32.3%
Declining Profitability
Cash Flow Stability
75%
Volatile Cash Flow
Deep Research
Next earnings:Apr 27, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
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No Data