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National Research (NRC) Financials

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$10.54 +0.01 (+0.09%)
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Annual Income Statements for National Research

Annual Income Statements for National Research

This table shows National Research's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders
32 31 25
Consolidated Net Income / (Loss)
32 31 25
Net Income / (Loss) Continuing Operations
32 31 25
Total Pre-Tax Income
43 40 33
Total Operating Income
47 40 35
Total Gross Profit
152 149 143
Total Revenue
152 149 143
Operating Revenue
152 149 143
Total Cost of Revenue
0.00 0.00 0.00
Total Operating Expenses
105 109 108
Selling, General & Admin Expense
43 47 45
Depreciation Expense
5.28 5.90 6.02
Other Operating Expenses / (Income)
57 56 57
Total Other Income / (Expense), net
-3.73 -0.08 -2.50
Interest Expense
1.21 0.86 2.60
Interest & Investment Income
0.17 0.82 0.13
Other Income / (Expense), net
-2.69 -0.04 -0.03
Income Tax Expense
11 8.99 7.91
Basic Earnings per Share
$1.28 $1.26 $1.05
Weighted Average Basic Shares Outstanding
24.92M 24.54M 23.70M
Diluted Earnings per Share
$1.27 $1.25 $1.04
Weighted Average Diluted Shares Outstanding
25.05M 24.67M 23.74M
Weighted Average Basic & Diluted Shares Outstanding
24.59M 23.85M 22.95M
Cash Dividends to Common per Share
$0.84 $1.48 $0.48

Quarterly Income Statements for National Research

This table shows National Research's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders
8.30 6.64 6.96 7.27 7.88 8.86 6.36 6.18 5.69 6.56
Consolidated Net Income / (Loss)
8.30 6.64 6.96 7.27 7.88 8.86 6.36 6.18 5.69 6.56
Net Income / (Loss) Continuing Operations
8.30 6.64 6.96 7.27 7.88 8.86 6.36 6.18 5.69 6.56
Total Pre-Tax Income
11 9.47 9.01 9.44 10 11 8.19 8.32 7.30 8.88
Total Operating Income
11 12 9.02 9.37 9.96 12 8.76 8.87 7.98 9.59
Total Gross Profit
38 38 36 36 38 38 35 35 36 37
Total Revenue
38 38 36 36 38 38 35 35 36 37
Operating Revenue
38 38 36 36 38 38 35 35 36 37
Total Operating Expenses
27 26 27 27 28 26 27 26 28 27
Selling, General & Admin Expense
11 11 12 12 12 11 11 11 11 11
Depreciation Expense
1.30 1.38 1.39 1.52 1.56 1.43 1.45 1.51 1.55 1.52
Other Operating Expenses / (Income)
15 14 14 13 15 14 14 13 15 14
Total Other Income / (Expense), net
-0.26 -2.77 -0.01 0.08 0.08 -0.24 -0.57 -0.54 -0.68 -0.71
Interest Expense
0.29 0.29 0.24 0.19 0.16 0.27 0.61 0.56 0.71 0.73
Interest & Investment Income
0.02 0.13 0.25 0.27 0.26 0.04 0.04 0.03 0.03 0.02
Other Income / (Expense), net
0.01 -2.62 -0.01 -0.00 -0.01 -0.01 -0.01 -0.01 -0.01 -0.01
Income Tax Expense
2.55 2.83 2.05 2.17 2.16 2.61 1.84 2.15 1.61 2.32
Basic Earnings per Share
$0.34 $0.27 $0.28 $0.30 $0.32 $0.36 $0.27 $0.26 $0.24 $0.28
Weighted Average Basic Shares Outstanding
24.72M 24.92M 24.59M 24.58M 24.56M 24.54M 23.87M 23.87M 23.72M 23.70M
Diluted Earnings per Share
$0.33 $0.27 $0.28 $0.29 $0.32 $0.36 $0.27 $0.26 $0.24 $0.27
Weighted Average Diluted Shares Outstanding
24.85M 25.05M 24.74M 24.72M 24.70M 24.67M 23.96M 23.92M 23.75M 23.74M
Weighted Average Basic & Diluted Shares Outstanding
24.69M 24.59M 24.61M 24.57M 24.56M 23.85M 23.88M 23.87M 23.48M 22.95M

Annual Cash Flow Statements for National Research

This table details how cash moves in and out of National Research's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Net Change in Cash & Equivalents
-29 -18 -2.42
Net Cash From Operating Activities
36 38 35
Net Cash From Continuing Operating Activities
36 38 35
Net Income / (Loss) Continuing Operations
32 31 25
Consolidated Net Income / (Loss)
32 31 25
Depreciation Expense
5.28 5.90 6.02
Non-Cash Adjustments To Reconcile Net Income
1.28 0.44 0.74
Changes in Operating Assets and Liabilities, net
-2.09 0.80 3.08
Net Cash From Investing Activities
-9.84 -16 -20
Net Cash From Continuing Investing Activities
-9.84 -16 -20
Purchase of Property, Plant & Equipment
-9.84 -16 -15
Acquisitions
0.00 0.00 -4.83
Sale of Property, Plant & Equipment
0.00 0.00 0.00
Net Cash From Financing Activities
-56 -41 -17
Net Cash From Continuing Financing Activities
-56 -41 -17
Repayment of Debt
-4.40 -20 -56
Repurchase of Common Equity
-28 -19 -31
Payment of Dividends
-21 -36 -11
Issuance of Debt
0.00 34 82
Other Financing Activities, net
-2.61 0.29 -0.34
Effect of Exchange Rate Changes
-0.18 -0.00 0.00
Cash Interest Paid
1.23 0.80 2.44
Cash Income Taxes Paid
12 8.93 8.23

Quarterly Cash Flow Statements for National Research

This table details how cash moves in and out of National Research's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents
-4.58 -3.37 -1.30 -1.23 -19 2.83 -4.95 -1.21 2.98 0.77
Net Cash From Operating Activities
10 8.10 7.75 8.84 9.82 12 12 6.79 9.42 6.38
Net Cash From Continuing Operating Activities
10 8.10 7.75 8.84 9.82 12 12 6.79 9.42 6.38
Net Income / (Loss) Continuing Operations
8.30 6.64 6.96 7.27 7.88 8.86 6.36 6.18 5.69 6.56
Consolidated Net Income / (Loss)
8.30 6.64 6.96 7.27 7.88 8.86 6.36 6.18 5.69 6.56
Depreciation Expense
1.30 1.38 1.39 1.52 1.55 1.43 1.45 1.51 1.55 1.52
Non-Cash Adjustments To Reconcile Net Income
1.27 -0.08 0.30 0.54 0.51 -0.90 2.57 -0.93 0.47 -1.37
Changes in Operating Assets and Liabilities, net
-0.82 0.17 -0.90 -0.50 -0.12 2.32 1.67 0.03 1.72 -0.33
Net Cash From Investing Activities
-3.98 -1.97 -3.20 -4.34 -4.47 -3.77 -4.14 -5.27 -6.43 -4.44
Net Cash From Continuing Investing Activities
-3.98 -1.97 -3.20 -4.34 -4.47 -3.77 -4.14 -5.27 -6.43 -4.44
Purchase of Property, Plant & Equipment
-3.98 -1.97 -3.20 -4.34 -4.47 -3.77 -4.14 -5.27 -1.60 -4.44
Net Cash From Financing Activities
-10 -9.55 -5.86 -5.72 -24 -5.11 -13 -2.73 -0.02 -1.16
Net Cash From Continuing Financing Activities
-10 -9.55 -5.86 -5.72 -24 -5.11 -13 -2.73 -0.02 -1.16
Repayment of Debt
-1.08 -1.19 -1.11 -1.12 -1.15 -16 -7.62 -10 -21 -16
Repurchase of Common Equity
-3.15 -2.32 -1.97 -1.82 -0.31 -15 -15 - -8.55 -7.40
Payment of Dividends
-5.94 -5.93 -2.96 -2.95 -28 -2.95 -2.91 -2.87 -2.86 -2.82
Issuance of Debt
- - 0.00 - 5.00 29 13 11 33 26
Other Financing Activities, net
-0.30 -0.11 0.19 0.17 -0.05 -0.01 -0.33 -0.00 -0.00 -0.00
Cash Interest Paid
0.24 0.29 0.33 0.32 -0.05 0.20 0.52 0.57 0.61 0.74
Cash Income Taxes Paid
3.16 3.29 0.03 4.19 2.27 2.45 0.08 4.25 1.95 1.96

Annual Balance Sheets for National Research

This table presents National Research's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Total Assets
130 122 133
Total Current Assets
44 24 20
Cash & Equivalents
25 6.65 4.23
Accounts Receivable
14 12 11
Prepaid Expenses
2.39 4.23 3.48
Current Deferred & Refundable Income Taxes
0.73 0.16 0.14
Other Current Assets
1.11 0.94 0.69
Plant, Property, & Equipment, net
17 28 38
Total Noncurrent Assets
69 70 75
Goodwill
62 62 66
Intangible Assets
1.61 1.47 2.62
Other Noncurrent Operating Assets
6.26 6.79 5.90
Total Liabilities & Shareholders' Equity
130 122 133
Total Liabilities
58 73 101
Total Current Liabilities
33 36 36
Short-Term Debt
4.49 7.21 5.33
Accounts Payable
1.15 1.30 1.19
Accrued Expenses
3.98 4.89 5.09
Dividends Payable
2.96 2.91 2.77
Current Deferred Revenue
15 15 16
Current Deferred & Payable Income Tax Liabilities
0.00 0.22 0.35
Current Employee Benefit Liabilities
4.55 3.95 4.77
Other Current Liabilities
1.09 0.88 0.56
Total Noncurrent Liabilities
25 37 65
Long-Term Debt
18 29 58
Noncurrent Deferred & Payable Income Tax Liabilities
5.27 4.14 3.53
Other Noncurrent Operating Liabilities
2.05 3.67 3.97
Total Equity & Noncontrolling Interests
72 49 31
Total Preferred & Common Equity
72 49 31
Preferred Stock
0.00 0.00 0.00
Total Common Equity
72 49 31
Common Stock
175 178 180
Retained Earnings
-25 -31 -17
Treasury Stock
-78 -99 -132
Accumulated Other Comprehensive Income / (Loss)
0.00 0.00 0.00

Quarterly Balance Sheets for National Research

This table presents National Research's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Total Assets
135 134 134 120 121 119 132
Total Current Assets
49 45 41 25 20 17 21
Cash & Equivalents
28 24 22 3.83 1.70 0.49 3.46
Accounts Receivable
15 14 12 14 11 10 11
Prepaid Expenses
3.59 6.08 5.55 5.74 6.38 4.92 4.87
Current Deferred & Refundable Income Taxes
0.39 0.11 0.21 0.34 0.03 0.28 0.65
Other Current Assets
1.36 1.04 0.83 0.37 0.78 1.21 0.66
Plant, Property, & Equipment, net
16 19 23 26 32 34 36
Total Noncurrent Assets
70 70 70 70 69 68 75
Goodwill
62 62 62 62 62 62 66
Intangible Assets
1.65 1.58 1.54 1.51 1.44 1.40 2.71
Other Noncurrent Operating Assets
6.84 6.45 6.87 6.68 6.32 5.39 5.86
Total Liabilities & Shareholders' Equity
135 134 134 120 121 119 132
Total Liabilities
67 60 56 62 84 79 97
Total Current Liabilities
41 36 34 41 49 46 44
Short-Term Debt
4.43 4.55 4.61 9.67 15 17 9.23
Accounts Payable
1.06 1.38 2.15 1.42 2.40 1.24 2.59
Accrued Expenses
4.71 3.82 3.72 4.60 5.73 5.44 6.28
Dividends Payable
5.93 2.95 2.95 2.95 2.87 2.87 2.82
Current Deferred Revenue
17 16 15 16 15 15 17
Current Deferred & Payable Income Tax Liabilities
0.31 1.65 - - 1.97 0.00 0.00
Current Employee Benefit Liabilities
6.02 4.98 4.58 5.03 5.39 4.37 5.39
Other Current Liabilities
1.25 0.90 0.90 0.90 0.81 0.74 0.67
Total Noncurrent Liabilities
26 24 22 21 35 33 53
Long-Term Debt
19 17 15 14 28 26 45
Noncurrent Deferred & Payable Income Tax Liabilities
5.24 4.89 4.52 4.54 3.89 4.00 4.13
Other Noncurrent Operating Liabilities
2.06 2.11 2.27 2.75 3.66 3.52 3.86
Total Equity & Noncontrolling Interests
68 75 78 58 37 40 35
Total Preferred & Common Equity
68 75 78 58 37 40 35
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
68 75 78 58 37 40 35
Common Stock
175 176 177 177 180 180 180
Retained Earnings
-29 -21 -17 -36 -27 -24 -21
Treasury Stock
-76 - - -82 -116 -116 -125

Annual Metrics and Ratios for National Research

This table displays calculated financial ratios and metrics derived from National Research's official financial filings.

Metric 2022 2023 2024
Growth Metrics
- - -
Revenue Growth
2.44% -1.97% -3.72%
EBITDA Growth
-13.27% -6.57% -10.28%
EBIT Growth
-12.77% -8.78% -12.11%
NOPAT Growth
-10.76% -10.22% -14.03%
Net Income Growth
-15.12% -2.61% -19.98%
EPS Growth
-13.01% -1.57% -16.80%
Operating Cash Flow Growth
-21.75% 5.10% -9.15%
Free Cash Flow Firm Growth
-40.13% -7.41% -27.05%
Invested Capital Growth
19.11% 13.51% 13.62%
Revenue Q/Q Growth
-0.10% -0.10% -0.76%
EBITDA Q/Q Growth
-6.20% 4.86% -4.69%
EBIT Q/Q Growth
-6.93% 5.47% -5.67%
NOPAT Q/Q Growth
-3.46% 0.99% -6.84%
Net Income Q/Q Growth
-8.60% 7.71% -8.48%
EPS Q/Q Growth
-7.30% 7.76% -7.96%
Operating Cash Flow Q/Q Growth
-9.87% 10.44% -13.34%
Free Cash Flow Firm Q/Q Growth
-24.63% 15.17% -27.25%
Invested Capital Q/Q Growth
5.21% 1.33% 5.59%
Profitability Metrics
- - -
Gross Margin
100.00% 100.00% 100.00%
EBITDA Margin
32.42% 30.89% 28.79%
Operating Margin
30.71% 26.95% 24.60%
EBIT Margin
28.93% 26.92% 24.58%
Profit (Net Income) Margin
20.98% 20.84% 17.32%
Tax Burden Percent
74.27% 77.50% 75.81%
Interest Burden Percent
97.63% 99.90% 92.98%
Effective Tax Rate
25.73% 22.50% 24.19%
Return on Invested Capital (ROIC)
52.10% 40.30% 30.50%
ROIC Less NNEP Spread (ROIC-NNEP)
74.55% 39.91% 26.49%
Return on Net Nonoperating Assets (RNNOA)
-11.68% 10.90% 31.27%
Return on Equity (ROE)
40.41% 51.20% 61.77%
Cash Return on Invested Capital (CROIC)
34.65% 27.64% 17.75%
Operating Return on Assets (OROA)
30.46% 31.64% 27.58%
Return on Assets (ROA)
22.08% 24.49% 19.44%
Return on Common Equity (ROCE)
40.41% 51.20% 61.77%
Return on Equity Simple (ROE_SIMPLE)
44.15% 63.26% 79.22%
Net Operating Profit after Tax (NOPAT)
35 31 27
NOPAT Margin
22.81% 20.89% 18.65%
Net Nonoperating Expense Percent (NNEP)
-22.46% 0.39% 4.01%
Return On Investment Capital (ROIC_SIMPLE)
36.69% 36.24% 28.23%
Cost of Revenue to Revenue
0.00% 0.00% 0.00%
SG&A Expenses to Revenue
28.17% 31.38% 31.39%
R&D to Revenue
0.00% 0.00% 0.00%
Operating Expenses to Revenue
69.29% 73.05% 75.40%
Earnings before Interest and Taxes (EBIT)
44 40 35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
49 46 41
Valuation Ratios
- - -
Price to Book Value (P/BV)
12.12 19.45 13.24
Price to Tangible Book Value (P/TBV)
99.12 0.00 0.00
Price to Revenue (P/Rev)
5.76 6.41 2.89
Price to Earnings (P/E)
27.45 30.74 16.71
Dividend Yield
2.38% 3.82% 2.72%
Earnings Yield
3.64% 3.25% 5.98%
Enterprise Value to Invested Capital (EV/IC)
12.06 11.99 5.08
Enterprise Value to Revenue (EV/Rev)
5.74 6.61 3.31
Enterprise Value to EBITDA (EV/EBITDA)
17.71 21.39 11.49
Enterprise Value to EBIT (EV/EBIT)
19.84 24.55 13.46
Enterprise Value to NOPAT (EV/NOPAT)
25.17 31.64 17.73
Enterprise Value to Operating Cash Flow (EV/OCF)
24.00 25.76 13.66
Enterprise Value to Free Cash Flow (EV/FCFF)
37.85 46.13 30.47
Leverage & Solvency
- - -
Debt to Equity
0.31 0.75 2.02
Long-Term Debt to Equity
0.25 0.60 1.85
Financial Leverage
-0.16 0.27 1.18
Leverage Ratio
1.83 2.09 3.18
Compound Leverage Factor
1.79 2.09 2.95
Debt to Total Capital
23.54% 42.84% 66.90%
Short-Term Debt to Total Capital
4.77% 8.42% 5.64%
Long-Term Debt to Total Capital
18.78% 34.41% 61.26%
Preferred Equity to Total Capital
0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00%
Common Equity to Total Capital
76.46% 57.16% 33.10%
Debt to EBITDA
0.45 0.80 1.54
Net Debt to EBITDA
-0.06 0.65 1.43
Long-Term Debt to EBITDA
0.36 0.64 1.41
Debt to NOPAT
0.64 1.18 2.37
Net Debt to NOPAT
-0.08 0.97 2.21
Long-Term Debt to NOPAT
0.51 0.95 2.17
Altman Z-Score
11.06 9.60 4.08
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00%
Liquidity Ratios
- - -
Current Ratio
1.31 0.67 0.55
Quick Ratio
1.18 0.53 0.43
Cash Flow Metrics
- - -
Free Cash Flow to Firm (FCFF)
23 21 16
Operating Cash Flow to CapEx
368.73% 241.56% 224.14%
Free Cash Flow to Firm to Interest Expense
19.02 24.70 5.98
Operating Cash Flow to Interest Expense
30.00 44.21 13.34
Operating Cash Flow Less CapEx to Interest Expense
21.86 25.91 7.39
Efficiency Ratios
- - -
Asset Turnover
1.05 1.18 1.12
Accounts Receivable Turnover
10.75 11.07 12.21
Inventory Turnover
0.00 0.00 0.00
Fixed Asset Turnover
10.23 6.54 4.30
Accounts Payable Turnover
0.00 0.00 0.00
Days Sales Outstanding (DSO)
33.94 32.97 29.89
Days Inventory Outstanding (DIO)
0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00
Cash Conversion Cycle (CCC)
33.94 32.97 29.89
Capital & Investment Metrics
- - -
Invested Capital
72 82 93
Invested Capital Turnover
2.28 1.93 1.64
Increase / (Decrease) in Invested Capital
12 9.75 11
Enterprise Value (EV)
870 982 473
Market Capitalization
873 952 414
Book Value per Share
$2.92 $1.99 $1.33
Tangible Book Value per Share
$0.36 ($0.58) ($1.60)
Total Capital
94 86 95
Total Debt
22 37 63
Total Long-Term Debt
18 29 58
Net Debt
-2.85 30 59
Capital Expenditures (CapEx)
9.84 16 15
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-10 -11 -15
Debt-free Net Working Capital (DFNWC)
15 -4.63 -11
Net Working Capital (NWC)
10 -12 -16
Net Nonoperating Expense (NNE)
2.77 0.06 1.90
Net Nonoperating Obligations (NNO)
0.11 33 62
Total Depreciation and Amortization (D&A)
5.28 5.90 6.02
Debt-free, Cash-free Net Working Capital to Revenue
-6.75% -7.59% -10.60%
Debt-free Net Working Capital to Revenue
9.76% -3.12% -7.64%
Net Working Capital to Revenue
6.80% -7.97% -11.36%
Earnings Adjustments
- - -
Adjusted Basic Earnings per Share
$1.28 $1.26 $1.05
Adjusted Weighted Average Basic Shares Outstanding
24.92M 24.54M 23.70M
Adjusted Diluted Earnings per Share
$1.27 $1.25 $1.04
Adjusted Weighted Average Diluted Shares Outstanding
25.05M 24.67M 23.74M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
24.59M 23.85M 22.95M
Normalized Net Operating Profit after Tax (NOPAT)
35 31 27
Normalized NOPAT Margin
22.81% 20.89% 18.65%
Pre Tax Income Margin
28.25% 26.90% 22.85%
Debt Service Ratios
- - -
EBIT to Interest Expense
36.27 46.41 13.55
NOPAT to Interest Expense
28.59 36.00 10.28
EBIT Less CapEx to Interest Expense
28.14 28.10 7.60
NOPAT Less CapEx to Interest Expense
20.46 17.70 4.33
Payout Ratios
- - -
Dividend Payout Ratio
65.92% 117.42% 46.21%
Augmented Payout Ratio
152.76% 179.09% 171.08%

Quarterly Metrics and Ratios for National Research

This table displays calculated financial ratios and metrics derived from National Research's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
-0.20% -0.40% -5.12% -3.03% 0.67% -0.37% -3.18% -3.15% -5.60% -2.88%
EBITDA Growth
-13.96% -22.79% -20.40% -14.01% -7.40% 19.35% -1.87% -4.75% -17.25% -15.44%
EBIT Growth
-14.68% -25.32% -23.35% -17.64% -10.58% 21.54% -2.74% -5.44% -19.86% -18.07%
NOPAT Growth
-15.44% -13.54% -20.24% -16.59% -8.10% 5.37% -2.43% -8.82% -20.34% -21.63%
Net Income Growth
-14.07% -31.06% -18.44% -12.61% -5.09% 33.38% -8.69% -15.10% -27.78% -25.93%
EPS Growth
-13.16% -27.03% -17.65% -12.12% -3.03% 33.33% -3.57% -10.34% -25.00% -25.00%
Operating Cash Flow Growth
15.46% -32.88% -6.48% -10.04% -2.32% 44.47% 55.26% -23.18% -4.02% -45.52%
Free Cash Flow Firm Growth
-75.89% -131.21% -151.91% -232.69% -238.96% 76.49% 169.94% 98.87% 75.79% -477.53%
Invested Capital Growth
8.38% 19.11% 14.05% 18.38% 17.86% 13.51% 6.95% 8.48% 9.03% 13.62%
Revenue Q/Q Growth
1.07% 1.20% -4.38% -0.86% 4.93% 0.15% -7.07% -0.83% 2.28% 3.04%
EBITDA Q/Q Growth
-1.91% -11.42% -5.47% 4.69% 5.63% 14.17% -22.28% 1.62% -8.23% 16.66%
EBIT Q/Q Growth
-2.18% -13.46% -6.45% 4.01% 6.19% 17.63% -25.15% 1.13% -10.01% 20.27%
NOPAT Q/Q Growth
-1.72% 1.00% -18.82% 3.51% 8.29% 15.80% -24.83% -3.26% -5.40% 13.93%
Net Income Q/Q Growth
-0.29% -19.97% 4.86% 4.44% 8.29% 12.47% -28.21% -2.89% -7.89% 15.35%
EPS Q/Q Growth
0.00% -18.18% 3.70% 3.57% 10.34% 12.50% -25.00% -3.70% -7.69% 12.50%
Operating Cash Flow Q/Q Growth
2.33% -19.36% -4.33% 13.96% 11.11% 19.26% 2.81% -43.62% 38.82% -32.30%
Free Cash Flow Firm Q/Q Growth
-13.96% -193.72% 24.34% -117.51% 9.90% 84.14% 325.08% -103.51% -1,830.59% -278.22%
Invested Capital Q/Q Growth
3.85% 5.21% 3.92% 4.26% 3.39% 1.33% -2.09% 5.76% 3.91% 5.59%
Profitability Metrics
- - - - - - - - - -
Gross Margin
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin
32.94% 28.83% 28.50% 30.10% 30.30% 34.54% 28.89% 29.60% 26.56% 30.07%
Operating Margin
29.47% 32.09% 24.72% 25.90% 26.24% 30.81% 24.81% 25.31% 22.28% 25.98%
EBIT Margin
29.50% 25.23% 24.68% 25.89% 26.20% 30.78% 24.79% 25.28% 22.25% 25.97%
Profit (Net Income) Margin
22.02% 17.41% 19.09% 20.11% 20.76% 23.31% 18.01% 17.63% 15.88% 17.78%
Tax Burden Percent
76.50% 70.12% 77.28% 77.01% 78.45% 77.24% 77.61% 74.18% 77.96% 73.92%
Interest Burden Percent
97.55% 98.42% 100.10% 100.87% 100.97% 98.05% 93.59% 94.01% 91.57% 92.62%
Effective Tax Rate
23.50% 29.88% 22.72% 22.99% 21.55% 22.76% 22.39% 25.82% 22.04% 26.08%
Return on Invested Capital (ROIC)
51.90% 51.40% 40.62% 41.07% 40.98% 45.91% 36.58% 33.71% 29.64% 31.41%
ROIC Less NNEP Spread (ROIC-NNEP)
54.00% 67.15% 40.67% 35.49% 41.54% 44.79% 34.57% 31.93% 28.25% 30.30%
Return on Net Nonoperating Assets (RNNOA)
-6.82% -10.52% -4.02% -0.53% 7.85% 12.23% 13.49% 12.19% 23.34% 35.76%
Return on Equity (ROE)
45.08% 40.88% 36.60% 40.54% 48.83% 58.15% 50.07% 45.90% 52.99% 67.17%
Cash Return on Invested Capital (CROIC)
46.28% 34.65% 33.53% 26.72% 24.74% 27.64% 33.07% 28.97% 25.27% 17.75%
Operating Return on Assets (OROA)
30.75% 26.55% 25.69% 28.49% 30.55% 36.16% 28.64% 29.27% 25.46% 29.14%
Return on Assets (ROA)
22.94% 18.33% 19.87% 22.13% 24.20% 27.39% 20.80% 20.41% 18.17% 19.95%
Return on Common Equity (ROCE)
45.08% 40.88% 36.60% 40.54% 48.83% 58.15% 50.07% 45.90% 52.99% 67.17%
Return on Equity Simple (ROE_SIMPLE)
51.34% 0.00% 40.48% 37.53% 49.69% 0.00% 82.19% 72.81% 78.21% 0.00%
Net Operating Profit after Tax (NOPAT)
8.50 8.58 6.97 7.21 7.81 9.04 6.80 6.58 6.22 7.09
NOPAT Margin
22.55% 22.50% 19.10% 19.94% 20.58% 23.80% 19.25% 18.78% 17.37% 19.21%
Net Nonoperating Expense Percent (NNEP)
-2.10% -15.75% -0.05% 5.58% -0.55% 1.13% 2.02% 1.78% 1.40% 1.11%
Return On Investment Capital (ROIC_SIMPLE)
- 9.11% - - - 10.56% - - - 7.50%
Cost of Revenue to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
28.55% 27.63% 32.31% 33.09% 31.10% 29.13% 31.86% 32.04% 30.68% 31.03%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
70.53% 67.91% 75.28% 74.10% 73.76% 69.19% 75.19% 74.69% 77.72% 74.02%
Earnings before Interest and Taxes (EBIT)
11 9.62 9.00 9.36 9.94 12 8.76 8.85 7.97 9.58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
12 11 10 11 11 13 10 10 9.51 11
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
13.91 12.12 13.79 13.29 18.52 19.45 26.19 13.63 15.76 13.24
Price to Tangible Book Value (P/TBV)
209.41 99.12 89.72 70.78 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
6.21 5.76 6.88 6.96 7.21 6.41 6.56 3.75 3.79 2.89
Price to Earnings (P/E)
27.10 27.45 34.06 35.41 37.28 30.74 31.87 18.72 20.15 16.71
Dividend Yield
2.21% 2.38% 1.72% 1.43% 3.39% 3.82% 3.76% 6.45% 2.10% 2.72%
Earnings Yield
3.69% 3.64% 2.94% 2.82% 2.68% 3.25% 3.14% 5.34% 4.96% 5.98%
Enterprise Value to Invested Capital (EV/IC)
13.67 12.06 13.70 13.18 13.51 11.99 12.57 6.95 6.77 5.08
Enterprise Value to Revenue (EV/Rev)
6.18 5.74 6.86 6.94 7.34 6.61 6.84 4.03 4.14 3.31
Enterprise Value to EBITDA (EV/EBITDA)
17.90 17.71 22.10 23.06 24.95 21.39 22.05 13.05 13.80 11.49
Enterprise Value to EBIT (EV/EBIT)
19.90 19.84 24.98 26.35 28.79 24.55 25.36 15.03 16.00 13.46
Enterprise Value to NOPAT (EV/NOPAT)
26.18 25.17 31.29 32.82 35.53 31.64 32.66 19.50 20.82 17.73
Enterprise Value to Operating Cash Flow (EV/OCF)
23.30 24.00 28.74 29.66 31.64 25.76 23.78 14.62 14.93 13.66
Enterprise Value to Free Cash Flow (EV/FCFF)
30.74 37.85 43.53 53.50 59.08 46.13 39.30 24.98 27.94 30.47
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
0.34 0.31 0.28 0.26 0.41 0.75 1.14 1.05 1.56 2.02
Long-Term Debt to Equity
0.28 0.25 0.22 0.20 0.24 0.60 0.75 0.64 1.30 1.85
Financial Leverage
-0.13 -0.16 -0.10 -0.01 0.19 0.27 0.39 0.38 0.83 1.18
Leverage Ratio
1.93 1.83 1.84 1.84 2.03 2.09 2.29 2.14 2.72 3.18
Compound Leverage Factor
1.88 1.80 1.84 1.86 2.05 2.05 2.14 2.01 2.49 2.94
Debt to Total Capital
25.56% 23.54% 22.01% 20.43% 29.17% 42.84% 53.24% 51.23% 60.99% 66.90%
Short-Term Debt to Total Capital
4.87% 4.77% 4.75% 4.71% 11.83% 8.42% 18.36% 20.10% 10.40% 5.64%
Long-Term Debt to Total Capital
20.69% 18.78% 17.27% 15.72% 17.34% 34.41% 34.89% 31.13% 50.60% 61.26%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
74.44% 76.46% 77.99% 79.57% 70.83% 57.16% 46.76% 48.77% 39.01% 33.10%
Debt to EBITDA
0.44 0.45 0.45 0.45 0.54 0.80 0.92 0.93 1.25 1.54
Net Debt to EBITDA
-0.10 -0.06 -0.06 -0.06 0.46 0.65 0.88 0.92 1.17 1.43
Long-Term Debt to EBITDA
0.36 0.36 0.36 0.34 0.32 0.64 0.60 0.57 1.04 1.41
Debt to NOPAT
0.65 0.64 0.64 0.64 0.78 1.18 1.36 1.40 1.89 2.37
Net Debt to NOPAT
-0.14 -0.08 -0.08 -0.08 0.65 0.97 1.31 1.38 1.77 2.21
Long-Term Debt to NOPAT
0.53 0.51 0.50 0.49 0.46 0.95 0.89 0.85 1.57 2.17
Altman Z-Score
9.58 10.20 11.55 12.32 11.26 8.84 7.77 5.07 4.23 3.44
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.20 1.31 1.25 1.21 0.61 0.67 0.41 0.37 0.47 0.55
Quick Ratio
1.07 1.18 1.05 1.02 0.45 0.53 0.26 0.23 0.33 0.43
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
3.19 -2.99 -2.27 -4.93 -4.44 -0.70 1.58 -0.06 -1.07 -4.06
Operating Cash Flow to CapEx
252.32% 412.21% 242.36% 203.57% 219.62% 310.56% 290.89% 128.79% 590.35% 143.54%
Free Cash Flow to Firm to Interest Expense
11.09 -10.47 -9.40 -25.66 -27.74 -2.62 2.62 -0.10 -1.52 -5.58
Operating Cash Flow to Interest Expense
34.90 28.34 32.17 46.02 61.36 43.52 19.90 12.23 13.35 8.75
Operating Cash Flow Less CapEx to Interest Expense
21.07 21.46 18.90 23.41 33.42 29.51 13.06 2.73 11.09 2.65
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
1.04 1.05 1.04 1.10 1.17 1.18 1.16 1.16 1.14 1.12
Accounts Receivable Turnover
9.59 10.75 9.93 11.88 9.97 11.07 11.63 13.33 11.29 12.21
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
11.15 10.23 9.25 8.20 7.19 6.54 5.78 5.19 4.66 4.30
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)
38.06 33.94 36.76 30.73 36.62 32.97 31.38 27.38 32.32 29.89
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)
38.06 33.94 36.76 30.73 36.62 32.97 31.38 27.38 32.32 29.89
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
69 72 75 78 81 82 80 85 88 93
Invested Capital Turnover
2.30 2.28 2.13 2.06 1.99 1.93 1.90 1.80 1.71 1.64
Increase / (Decrease) in Invested Capital
5.30 12 9.23 12 12 9.75 5.21 6.63 7.30 11
Enterprise Value (EV)
938 870 1,027 1,030 1,092 982 1,008 590 596 473
Market Capitalization
943 873 1,030 1,033 1,072 952 968 548 546 414
Book Value per Share
$2.74 $2.92 $3.04 $3.16 $2.36 $1.99 $1.55 $1.68 $1.45 $1.33
Tangible Book Value per Share
$0.18 $0.36 $0.47 $0.59 ($0.21) ($0.58) ($1.09) ($0.96) ($1.44) ($1.60)
Total Capital
91 94 96 98 82 86 79 82 89 95
Total Debt
23 22 21 20 24 37 42 42 54 63
Total Long-Term Debt
19 18 17 15 14 29 28 26 45 58
Net Debt
-5.12 -2.85 -2.65 -2.53 20 30 40 42 51 59
Capital Expenditures (CapEx)
3.98 1.97 3.20 4.34 4.47 3.77 4.14 5.27 1.60 4.44
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-16 -10 -10 -11 -10 -11 -16 -13 -18 -15
Debt-free Net Working Capital (DFNWC)
12 15 14 12 -6.40 -4.63 -14 -12 -14 -11
Net Working Capital (NWC)
8.02 10 9.06 7.25 -16 -12 -29 -29 -24 -16
Net Nonoperating Expense (NNE)
0.20 1.94 0.00 -0.06 -0.07 0.19 0.44 0.40 0.53 0.53
Net Nonoperating Obligations (NNO)
0.81 0.11 0.31 0.42 23 33 43 45 53 62
Total Depreciation and Amortization (D&A)
1.30 1.38 1.39 1.52 1.55 1.43 1.45 1.51 1.55 1.52
Debt-free, Cash-free Net Working Capital to Revenue
-10.50% -6.75% -6.76% -7.17% -6.88% -7.59% -10.87% -8.68% -12.36% -10.60%
Debt-free Net Working Capital to Revenue
8.21% 9.76% 9.09% 7.99% -4.30% -3.12% -9.72% -8.35% -9.95% -7.64%
Net Working Capital to Revenue
5.29% 6.80% 6.06% 4.88% -10.80% -7.97% -19.56% -19.67% -16.36% -11.36%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$0.34 $0.27 $0.28 $0.30 $0.32 $0.36 $0.27 $0.26 $0.24 $0.28
Adjusted Weighted Average Basic Shares Outstanding
24.72M 24.92M 24.59M 24.58M 24.56M 24.54M 23.87M 23.87M 23.72M 23.70M
Adjusted Diluted Earnings per Share
$0.33 $0.27 $0.28 $0.29 $0.32 $0.36 $0.27 $0.26 $0.24 $0.27
Adjusted Weighted Average Diluted Shares Outstanding
24.85M 25.05M 24.74M 24.72M 24.70M 24.67M 23.96M 23.92M 23.75M 23.74M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
24.69M 24.59M 24.61M 24.57M 24.56M 23.85M 23.88M 23.87M 23.48M 22.95M
Normalized Net Operating Profit after Tax (NOPAT)
8.50 8.58 6.97 7.21 7.81 9.04 6.80 6.58 6.22 7.09
Normalized NOPAT Margin
22.55% 22.50% 19.10% 19.94% 20.58% 23.80% 19.25% 18.78% 17.37% 19.21%
Pre Tax Income Margin
28.78% 24.83% 24.71% 26.12% 26.46% 30.18% 23.20% 23.77% 20.37% 24.05%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
38.61 33.65 37.35 48.77 62.14 43.48 14.47 15.95 11.29 13.15
NOPAT to Interest Expense
29.51 30.01 28.91 37.56 48.81 33.62 11.24 11.85 8.81 9.72
EBIT Less CapEx to Interest Expense
24.78 26.77 24.08 26.16 34.21 29.46 7.63 6.46 9.03 7.05
NOPAT Less CapEx to Interest Expense
15.68 23.14 15.64 14.96 20.88 19.61 4.40 2.35 6.55 3.63
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
51.99% 65.92% 69.06% 60.93% 136.83% 117.42% 119.59% 123.79% 42.77% 46.21%
Augmented Payout Ratio
136.61% 152.76% 144.85% 92.64% 159.15% 179.09% 225.39% 227.34% 185.12% 171.08%

Frequently Asked Questions About National Research's Financials

When does National Research's financial year end?

According to the most recent income statement we have on file, National Research's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has National Research's net income changed over the last 2 years?

National Research's net income appears to be on a downward trend, with a most recent value of $24.78 million in 2024, falling from $31.80 million in 2022. The previous period was $30.97 million in 2023.

What is National Research's operating income?
National Research's total operating income in 2024 was $35.19 million, based on the following breakdown:
  • Total Gross Profit: $143.06 million
  • Total Operating Expenses: $107.87 million
How has National Research revenue changed over the last 2 years?

Over the last 2 years, National Research's total revenue changed from $151.57 million in 2022 to $143.06 million in 2024, a change of -5.6%.

How much debt does National Research have?

National Research's total liabilities were at $101.26 million at the end of 2024, a 37.8% increase from 2023, and a 73.3% increase since 2022.

How much cash does National Research have?

In the past 2 years, National Research's cash and equivalents has ranged from $4.23 million in 2024 to $25.03 million in 2022, and is currently $4.23 million as of their latest financial filing in 2024.

How has National Research's book value per share changed over the last 2 years?

Over the last 2 years, National Research's book value per share changed from 2.92 in 2022 to 1.33 in 2024, a change of -54.3%.



This page (NASDAQ:NRC) was last updated on 4/20/2025 by MarketBeat.com Staff
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