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NATIONAL RESEARCH CORP (NRC) Stock Fundamental Analysis

NASDAQ:NRC - Nasdaq - US6373722023 - Common Stock - Currency: USD

14.055  -0.54 (-3.67%)

Fundamental Rating

5

NRC gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 109 industry peers in the Health Care Providers & Services industry. While NRC has a great profitability rating, there are some minor concerns on its financial health. NRC is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year NRC was profitable.
NRC had a positive operating cash flow in the past year.
NRC had positive earnings in each of the past 5 years.
Each year in the past 5 years NRC had a positive operating cash flow.
NRC Yearly Net Income VS EBIT VS OCF VS FCFNRC Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

1.2 Ratios

NRC has a Return On Assets of 20.54%. This is amongst the best in the industry. NRC outperforms 100.00% of its industry peers.
NRC's Return On Equity of 78.20% is amongst the best of the industry. NRC outperforms 97.20% of its industry peers.
Looking at the Return On Invested Capital, with a value of 30.89%, NRC belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for NRC is significantly above the industry average of 8.18%.
The last Return On Invested Capital (30.89%) for NRC is well below the 3 year average (38.44%), which needs to be investigated, but indicates that NRC had better years and this may not be a problem.
Industry RankSector Rank
ROA 20.54%
ROE 78.2%
ROIC 30.89%
ROA(3y)24.47%
ROA(5y)26.09%
ROE(3y)50.42%
ROE(5y)61.46%
ROIC(3y)38.44%
ROIC(5y)38.36%
NRC Yearly ROA, ROE, ROICNRC Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 50 100 150

1.3 Margins

NRC has a better Profit Margin (18.78%) than 99.07% of its industry peers.
NRC's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 26.12%, NRC belongs to the top of the industry, outperforming 99.07% of the companies in the same industry.
NRC's Operating Margin has declined in the last couple of years.
NRC has a Gross Margin of 60.89%. This is amongst the best in the industry. NRC outperforms 82.24% of its industry peers.
NRC's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 26.12%
PM (TTM) 18.78%
GM 60.89%
OM growth 3Y-5.19%
OM growth 5Y-1.76%
PM growth 3Y-9.28%
PM growth 5Y-3.56%
GM growth 3Y-0.42%
GM growth 5Y0.68%
NRC Yearly Profit, Operating, Gross MarginsNRC Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 20 40 60

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6

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), NRC is creating value.
NRC has less shares outstanding than it did 1 year ago.
NRC has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, NRC has a worse debt to assets ratio.
NRC Yearly Shares OutstandingNRC Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 5M 10M 15M 20M 25M
NRC Yearly Total Debt VS Total AssetsNRC Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M

2.2 Solvency

NRC has an Altman-Z score of 3.68. This indicates that NRC is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.68, NRC is in the better half of the industry, outperforming 73.83% of the companies in the same industry.
NRC has a debt to FCF ratio of 2.13. This is a good value and a sign of high solvency as NRC would need 2.13 years to pay back of all of its debts.
NRC has a better Debt to FCF ratio (2.13) than 83.18% of its industry peers.
A Debt/Equity ratio of 1.44 is on the high side and indicates that NRC has dependencies on debt financing.
NRC has a worse Debt to Equity ratio (1.44) than 71.03% of its industry peers.
Even though the debt/equity ratio score it not favorable for NRC, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF 2.13
Altman-Z 3.68
ROIC/WACC3.69
WACC8.37%
NRC Yearly LT Debt VS Equity VS FCFNRC Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M

2.3 Liquidity

NRC has a Current Ratio of 0.47. This is a bad value and indicates that NRC is not financially healthy enough and could expect problems in meeting its short term obligations.
NRC has a Current ratio of 0.47. This is amonst the worse of the industry: NRC underperforms 92.52% of its industry peers.
A Quick Ratio of 0.47 indicates that NRC may have some problems paying its short term obligations.
NRC has a Quick ratio of 0.47. This is amonst the worse of the industry: NRC underperforms 91.59% of its industry peers.
NRC does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
Industry RankSector Rank
Current Ratio 0.47
Quick Ratio 0.47
NRC Yearly Current Assets VS Current LiabilitesNRC Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M

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1

3. Growth

3.1 Past

NRC shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -3.12%.
The Earnings Per Share has been growing slightly by 3.24% on average over the past years.
Looking at the last year, NRC shows a decrease in Revenue. The Revenue has decreased by -3.07% in the last year.
The Revenue has been growing slightly by 4.42% on average over the past years.
EPS 1Y (TTM)-3.12%
EPS 3Y-4.7%
EPS 5Y3.24%
EPS Q2Q%-25.12%
Revenue 1Y (TTM)-3.07%
Revenue growth 3Y3.68%
Revenue growth 5Y4.42%
Sales Q2Q%-5.62%

3.2 Future

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
NRC Yearly Revenue VS EstimatesNRC Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
NRC Yearly EPS VS EstimatesNRC Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0.2 0.4 0.6 0.8 1

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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 11.24, which indicates a very decent valuation of NRC.
85.98% of the companies in the same industry are more expensive than NRC, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 29.98, NRC is valued rather cheaply.
Industry RankSector Rank
PE 11.24
Fwd PE N/A
NRC Price Earnings VS Forward Price EarningsNRC Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 0 0 0 0

4.2 Price Multiples

NRC's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. NRC is cheaper than 78.50% of the companies in the same industry.
85.05% of the companies in the same industry are more expensive than NRC, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 12.88
EV/EBITDA 8.76
NRC Per share dataNRC EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

NRC has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)3.47
EPS Next 2YN/A
EPS Next 3YN/A

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6

5. Dividend

5.1 Amount

NRC has a Yearly Dividend Yield of 3.31%. Purely for dividend investing, there may be better candidates out there.
The stock price of NRC dropped by -25.79% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
NRC's Dividend Yield is rather good when compared to the industry average which is at 3.06. NRC pays more dividend than 93.46% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.30, NRC pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.31%

5.2 History

On average, the dividend of NRC grows each year by 16.85%, which is quite nice.
NRC has been paying a dividend for at least 10 years, so it has a reliable track record.
NRC has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)16.85%
Div Incr Years3
Div Non Decr Years3
NRC Yearly Dividends per shareNRC Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.5 1

5.3 Sustainability

NRC pays out 42.78% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of NRC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP42.78%
EPS Next 2YN/A
EPS Next 3YN/A
NRC Yearly Income VS Free CF VS DividendNRC Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M
NRC Dividend Payout.NRC Dividend Payout, showing the Payout Ratio.NRC Dividend Payout.PayoutRetained Earnings

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NATIONAL RESEARCH CORP

NASDAQ:NRC (3/3/2025, 2:51:20 PM)

14.055

-0.54 (-3.67%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Providers & Services
Earnings (Last)11-05 2024-11-05/amc
Earnings (Next)N/A N/A
Inst Owners52.14%
Inst Owner Change-2.36%
Ins Owners0.69%
Ins Owner Change0%
Market Cap324.39M
Analysts45
Price TargetN/A
Short Float %1.96%
Short Ratio3.04
Dividend
Industry RankSector Rank
Dividend Yield 3.31%
Yearly Dividend1.49
Dividend Growth(5Y)16.85%
DP42.78%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 11.24
Fwd PE N/A
P/S 2.25
P/FCF 12.88
P/OCF 8.12
P/B 9.37
P/tB N/A
EV/EBITDA 8.76
EPS(TTM)1.25
EY8.89%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)1.09
FCFY7.76%
OCF(TTM)1.73
OCFY12.32%
SpS6.25
BVpS1.5
TBVpS-1.49
PEG (NY)N/A
PEG (5Y)3.47
Profitability
Industry RankSector Rank
ROA 20.54%
ROE 78.2%
ROCE 43.03%
ROIC 30.89%
ROICexc 32.09%
ROICexgc 141.93%
OM 26.12%
PM (TTM) 18.78%
GM 60.89%
FCFM 17.46%
ROA(3y)24.47%
ROA(5y)26.09%
ROE(3y)50.42%
ROE(5y)61.46%
ROIC(3y)38.44%
ROIC(5y)38.36%
ROICexc(3y)54.35%
ROICexc(5y)53.24%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)50.64%
ROCE(5y)50.54%
ROICexcg growth 3Y-21.81%
ROICexcg growth 5YN/A
ROICexc growth 3Y-7.18%
ROICexc growth 5Y-7.33%
OM growth 3Y-5.19%
OM growth 5Y-1.76%
PM growth 3Y-9.28%
PM growth 5Y-3.56%
GM growth 3Y-0.42%
GM growth 5Y0.68%
F-Score4
Asset Turnover1.09
Health
Industry RankSector Rank
Debt/Equity 1.44
Debt/FCF 2.13
Debt/EBITDA 1.14
Cap/Depr 248.91%
Cap/Sales 10.25%
Interest Coverage 19.8
Cash Conversion 91.64%
Profit Quality 92.99%
Current Ratio 0.47
Quick Ratio 0.47
Altman-Z 3.68
F-Score4
WACC8.37%
ROIC/WACC3.69
Cap/Depr(3y)180.12%
Cap/Depr(5y)135.49%
Cap/Sales(3y)6.94%
Cap/Sales(5y)5.49%
Profit Quality(3y)88.14%
Profit Quality(5y)95.04%
High Growth Momentum
Growth
EPS 1Y (TTM)-3.12%
EPS 3Y-4.7%
EPS 5Y3.24%
EPS Q2Q%-25.12%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-3.07%
Revenue growth 3Y3.68%
Revenue growth 5Y4.42%
Sales Q2Q%-5.62%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-31.07%
EBIT growth 3Y-1.7%
EBIT growth 5Y2.58%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-17.86%
FCF growth 3Y-15.23%
FCF growth 5Y-8%
OCF growth 1Y-0.7%
OCF growth 3Y-2.12%
OCF growth 5Y-0.89%