
National Research Corporation (NRC) Market Cap
National Research Corporation has a market capitalization of $392.4M.
Financials based on reported quarter end 2025-12-31
Price: $17.25
βΌ -0.25 (-1.43%)
Market Cap: 392.38M
NASDAQ Β· time unavailable
CEO: Trent Green
Sector: Healthcare
Industry: Medical - Healthcare Information Services
IPO Date: 2013-05-23
Website: https://nrchealth.com
National Research Corporation (NRC) - Company Information
Market Cap: 392.38M Β· Sector: Healthcare
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.
Analyst Sentiment
Based on 1 ratings
Consensus Price Target
No data available
Price & Moving Averages
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Fundamentals Overview
π AI Financial Analysis
Powered by StockMarketInfo"For the fiscal year ending December 31, 2025, NRC reported revenue of $35.2M and a net income of $1.8M, reflecting ongoing business operations. The company's earnings per share (EPS) stands at $0.0825. Despite being a profitable entity, NRC faces notable financial challenges, including net debt of $74.9M against total equity of $13.99M, suggesting a leveraged position. Operating cash flow amounted to $7.18M, complemented by free cash flow of $6.06M, indicating positive cash generation capabilities despite a negative capital expenditure of $1.12M. The company has also been returning capital to shareholders with recent dividends of $0.16 per share, twice in the last year, and a lower dividend of $0.12 prior, which showcases a commitment to shareholder returns. Though the stock's price has appreciated by 18.80% over the past year, the year-to-date performance indicates a decline of 3.27%. Valuation metrics are not disclosed, but overall, the financial health appears to balance risk and reward moderately, denoting potential for growth but with caution due to leverage dynamics."
Revenue Growth
Stable revenue growth, but not exceptionally high.
Profitability
Positive net income, though limited margins observed.
Cash Flow Quality
Strong operating and free cash flow generation.
Leverage & Balance Sheet
Moderate leverage with significant net debt in relation to equity.
Shareholder Returns
Prudent dividend payments indicate shareholder return focus.
Analyst Sentiment & Valuation
Mixed sentiment; growth potential balanced by leverage risks.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
NRC Healthβs Q4 2025 performance showed improving business momentum despite a challenging YoY revenue comp from prior-period TRCV attrition. Revenue was $35.2M (-5% YoY, +2% sequentially) while TRCV reached $144.1M (+8% YoY, +2% sequentially) for the fifth straight quarter of sequential TRCV growthβsupporting managementβs view that 2026 revenue growth should follow 2025 TRCV strength. Operating results maintained profitability: adjusted EBITDA was $8.7M and full-year adjusted EBITDA margin held at 29% (near 30%), with management targeting margin expansion as revenue recovers. The key execution drivers were sales coverage reorganization (full-year new sales +86% YoY), customer success depth (highest gross dollar retention in 7+ years), and enablement momentum led by Rounding (TRCV nearly doubling in 2025) plus AI product upgrades. Capital returns continued via a $0.12/share dividend, while opportunistic repurchases were referenced without quantified amounts.
Growth Catalysts
- Go-to-market restructure/coverage model scaling through 2026; full-year new sales increased 86% YoY
- Enablement adoption deepening; Rounding workflow-driven solution momentum with TRCV nearly doubling in 2025 and integrated into platform
- Product innovation in AI capabilities, including beta release of new AI-powered listening capability within Rounding and AI-enabled sentiment/complaint + service recovery capabilities
- Cross-sell potential across enablement, strategic insights, and governance solutions as relationships deepen
- Retention upside opportunity despite a 7-year-high retention rate; hardening 2025 customer success initiatives
- New logo growth driven by broader platform awareness beyond historical footprint
Business Development
- David Burik appointed (early January) to lead strategic insights and governance strategy; previously led Guidehouse Center for Healthcare Insights (adds governance/system transformation expertise)
Financial Highlights
- Q4 2025 revenue: $35.2M, down 5% YoY and up 2% sequentially; attributed difficult YoY compare to unusually heavy TRCV attrition recognized through Q4 2024
- Q4 2025 TRCV: $144.1M, up 8% YoY and up 2% sequentially; fifth consecutive quarter of sequential TRCV growth
- Q4 2025 adjusted EBITDA: $8.7M; operating expense timing impact from annual HUB Conference held in Q4 this year vs Q3 last year
- Q4 2025 adjusted EPS: $0.16; adjusted net income: $3.4M
- 2025 full-year revenue: $137.4M, down 4% YoY (expected); full-year TRCV growth of 8% expected to support 2026 revenue recovery
- 2025 full-year adjusted EBITDA margin: 29% (and βnear 30%β referenced); management expects margin expansion as revenue recovers
- Dividend: $0.12 per share paid in the quarter
Capital Funding
- Quarterly dividend: $0.12 per share (capital return to shareholders)
- Opportunistic share repurchases referenced as offsetting dilution; no dollar amount disclosed
- No specific debt level, cash runway, or buyback authorization/amount disclosed
Strategy & Ops
- Sales reorganization and refined coverage model implemented to mirror how healthcare systems make decisions; multiple-level engagement and larger strategic relationships
- Customer success model strengthening (quality/depth/consistency); highest gross dollar retention rate in more than 7 years
- Leadership build-out to support next phase of growth; David Burik added to strategic insights/governance
- AI feature expansion, including beta listening capability within Rounding; continued investment in AI-enabled sentiment analysis and complement/service recovery capabilities
- Platform breadth emphasized: 7 products across experience, enablement, strategic insight, and governance solutions (flywheel from insight to action)
Market Outlook
- Management expectation: revenue growth in 2026 will follow TRCV growth of 8% in 2025
- TRCV go-to-market model expected to be a βmeaningful tailwind through 2026β
Risks & Headwinds
- YoY revenue comparison headwind from unusually heavy TRCV attrition in Q3 2024, with that attritionβs revenue impact recognized through Q4 2024
- Customer retention risk acknowledged despite strong performance: retention upside needed as customer success initiatives are hardened
- No explicit competition/macro yield detail provided; risks described only generally as forward-looking statement cautions
Q&A: Analyst Interest
Sentiment: MIXED
Note: This summary was synthesized by AI from the NRC Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.