National Research Corp

Health Care
Biotechnology: Commercial Physical & Biological Resarch
www.nrchealth.com

Earnings Score
Moat Score
Safety Score

Market Cap $366.46M
PE 14
Debt $52.46M
Cash $3.46M
EV $415.46M
FCF $25.18M

Earnings

loading chart...

Sales & Net Margins

loading chart...

Earnings	$27.08M
EBIT	$37.16M
ROE	78%
ROA	28%
FCF	$25.18M
Equity	$34.62M
Growth Stability	87%
PE	13.53
PEG	-2.48
PB	10.58
P/FCF	14.55
P/S	2.54
Price/Cash	0.01
Debt/Equity	1.52
Debt/FCF	2.08
Net Margins	17%
Op. Margins	26%
Earnings CAGR	5%
Sales Growth YoY	-6%
Sales Growth QoQ	2%
Sales CAGR	5%
FCF CAGR	1%
Equity CAGR	-4%
Earnings Stability	0.44
Earnings Growth YoY	-28%
Earnings Growth QoQ	-8%
Earnings CAGR 5Y	-5%

Sales CAGR 5Y	3%
FCF CAGR 5Y	-13%
Equity CAGR 5Y	-2%
Earnings CAGR 3Y	-1%
Sales CAGR 3Y	-1%
FCF CAGR 3Y	-17%
Equity CAGR 3Y	-27%
Market Cap	$366.46M
Revenue	$144.16M
Dividend Yield	3%
Payout Ratio	43%
Assets	$131.80M
Total Debt	$52.46M
Cash	$3.46M
Shares Outstanding	23.48M
EV	415.46M
Earnings Score	22%
Moat Score	97%
Safety Score	89%
Final Score	69%
Working Capital	-23.58M
Current Ratio	0.47
Shares Growth 3y	-2%
Equity Growth QoQ	-14%
Equity Growth YoY	-40%

Assets & ROA

loading chart...

Stockholders Equity & ROE

loading chart...

National Research Corp is a provider of analytics and insights that facilitate measurement and improvement of the patient and employee experience while also increasing patient engagement and customer loyalty for healthcare providers, payers, and other healthcare organizations. Its portfolio of solutions represents a set of capabilities that individually and collectively provide value to clients. The solutions are offered at an enterprise level through the Voice of the Customer platform, The Governance Institute, and legacy Experience solutions.

SEC Filings

Direct access to National Research Corp (NRC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does National Research Corp compare to its competitors?

Loading chart...

Peter Lynch's Chart

This chart shows the current pricing of National Research Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 5%

Stability 44%

loading chart...

National Research Corp Discounted Cash Flow

Fully customizable DCF calculator online for National Research Corp.

Years

Calculation mode

= $278M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$25M	$26M	$26M	$26M	$27M	$27M	$27M	$28M	$28M	$29M	$29M	$292M
DCF		$23M	$21M	$20M	$18M	$17M	$16M	$14M	$13M	$12M	$11M	$112M
Value	$278M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	17%	19%	20%	25%	25%	28%	25%	21%	21%	17%
ROA	-	26%	27%	34%	39%	32%	32%	36%	33%	28%
ROE	-	25%	25%	157%	99%	58%	44%	44%	63%	78%

Good Net Margins (17.16%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	0.27	0.09	1.23	1.07	0.95	0.76	1.01	1.97	2.08
Debt over Equity	0.11	0.08	0.02	2.18	1.18	0.54	0.36	0.37	0.9	1.52
Growth Stability	-	-	-	100%	100%	100%	100%	89%	87%	87%

Neutral Debt/FCF ratio (2.08)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Bad Debt/Equity ratio (1.52)

The company is overleveraged and has a bad balance between equity and debt.

Neutral Graham’s Stability (87%)

The company has a stability in its earnings that is not too good nor too bad.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	7%	7%	2%	7%	4%	11%	2%	-2%	3%
Earnings YoY growth	-	17%	12%	31%	8%	15%	1%	-15%	-3%	-5%
Equity YoY growth	-	12%	9%	-79%	72%	96%	33%	-16%	-32%	-2%
FCF YoY growth	-	21%	3%	44%	7%	1%	11%	-35%	-15%	-13%