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MARKETS / NASDAQ / NRC
NASDAQ · SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH · MID CAP

NRC Health NRC

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$137.4M
▼ 4.0% YoY
$11.6M
▼ 53.2% YoY
$15.7M
▼ 17.9% YoY
In brief

What this company does

The company's portfolio of subscription-based solutions provides information, analysis, and workflow enablement tools to healthcare organizations covering patient experience, service recovery, care transitions, employee engagement, reputation management, rounding, and brand loyalty. Its ten largest customers collectively accounted for 20% of total revenue in 2025, compared with 17% in 2024 and 15% in 2023. As of December 31, 2025, the company employed a total of 357 associates. Its digital solutions consist of four primary solution categories — Patient Experience, Consumer Experience, Employee Experience, and Market Experience — which can be implemented collectively as an enterprise solution or individually to meet specific needs within the organization. Its Market Insights survey measures the opinions and behaviors of approximately 300,000 healthcare consumers across the contiguous United States annually. The company was founded in 1981 and has grown through internal product development as well as select acquisitions. It is a Delaware corporation headquartered in Lincoln, Nebraska.

Written from the business description in NRC HEALTH's annual report to the U.S. Securities and Exchange Commission, filed 5 March 2026. Every sentence was checked against that document before publication.

Growth
USD 137.4M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 137.4 · Net income 11.6
80M200920112013201520172019202120232025
Compound annual growth
−3.2%
+0.6%
+3.0%
+5.3%
−28.5%
−20.8%
+240.2%
+103.0%
−14.8%
+19.9%
−13.9%
+24.2%
+10.2%
+12.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +0.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 16.4% · Net 8.4%
10%20%30%200920112013201520172019202120232025
ROE
FY2018 · ROE 55.1%
20%40%200920112013201520172019202120232025

Cash & shareholders
USD 31.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 15.7
20M40M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 11.0 · Net buybacks 20.0
20M40MDividendsNet buybacks200920112013201620182020202220242025

USD 11.0M in dividends and USD 20.0M in buybacks went back to shareholders.

Total assetsUSD 134.9M
EquityUSD 14.0M
CashUSD 4.1M
Gross debtUSD 75.0M
Net debtUSD 70.9M
Current ratio0.55×

Net debt stands at 507% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

The share count changed between 2012 and 2017, but the exact year can't be marked here — the underlying count wasn't on file for every year in that stretch.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.10.10.10.20.10.10.10.10.10.10.10.10.10.10.10.10.1
Operating income $B0.00.00.00.00.10.00.00.00.00.00.00.00.00.00.00.00.0
EBITDA $B···········0.00.00.00.00.00.0
Income tax $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Net income $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Free cash flow $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
EPS, diluted $50.001.041.251.27·1.451.26······2.171.691.261.26
Dividend / sh $0.520.481.480.840.480.210.78······2.540.880.760.64
Payout %·······567413957·14115514450
ROE %·······55.126.526.121.722.824.126.822.224.919.2
Shares out B0.020.020.020.020.030.030.020.020.02····0.010.010.01·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 1 failures in 59 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente1 failures
ActivityServices-Commercial Physical & Biological Research
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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