National Research Corporation (NRC) Stock

National Research Corporation (NRC) is a Technology stock trading at $20.00 (as of 2026-09-02), with a market capitalization of $442.39M and a trailing P/E of 75.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

National Research Corporation offers subscription analytics and market insights focused on measuring and improving patient and employee experience. Its offerings include experience and health risk assessment solutions, service recovery and care transitions insights, and tools for tracking and analyzing healthcare brand awareness, perception, and competitive positioning, serving healthcare organizations in the United States and Canada.

Understand National Research Corporation: how it makes money

National Research sells subscription-based analytics that help US and Canadian healthcare organizations measure patient experience, manage care transitions, and track employee engagement. The model is recurring-contract based, with a broad pool of platform adopters feeding a smaller group of active program users who drive the revenue.

The profit engine lives in the gap between organizations that adopt the Human Understanding platform and the smaller subset that are actively running it as a paying program; closing that gap is where margin is created or lost.

Business quality (Mixed): The recurring-subscription structure is sound for healthcare software, but the company is still spending its way to scale, making this more of a growth thesis than a cash-flow story today.

Valuation: Trades at 67× trailing earnings · $485M market cap.

Bull case

  • Market prices in durable stickiness: A P/E of 66.5x signals that investors are valuing the subscription revenue model as highly sticky, implying they believe healthcare analytics contracts are hard to churn once embedded in clinical and HR workflows.

Bear case

  • Still burning cash to grow: Operating margin of -9% means every dollar of revenue currently costs more than 90 cents to deliver, so the business is not yet self-funding and continues to depend on external capital or aggressive cost cuts to improve the bottom line.
Valuation — source: SEC EDGAR (first-party)
Price$20.00
Market Cap$442.39M
P/E Ratio75.5
EV / EBITDA23.7
Price / Book67.55
Price / Sales3.16
FCF Yield3.6%
DCF Value (model)$6.93
DCF Upside vs Price-65.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$137.39M
Net Margin8.4%
Revenue Growth (YoY)4.0%
EPS Growth (YoY)1400.0%
FCF Growth (YoY)-1205.9%
Financial Health — source: SEC EDGAR
Altman Z-Score3.54 (safe)
Valuation vs Sector & Industry
Stock P/E75.5
Sector P/E (Technology)31.8
Industry P/E (Business Services)28.3
vs Sector137.2%
vs Industry166.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderKAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC ($44.77M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOTrent Green
Employees368
CountryUS
IPO Date2013-05-23

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NRC earnings history · NRC institutional & insider holders · NRC KPIs & operating metrics · NRC financials · NRC investor presentations & press releases · NRC SEC filings · NRC peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-09-02.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.