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Companies / Health Care / NRC Health
NRC

NRC Health

Health CareProfessional Services
Ticker NRCLINCOLN, NEFiscal year ends DecemberBook value per share $-0.41Diluted shares 22.0M

National Research Corporation (Nasdaq: NRC), doing business as NRC Health, provides subscription-based healthcare experience, market research, analytics, and governance services to healthcare organizations. Its digital solutions help providers collect and analyze feedback and improve patient, consumer, employee, and… From the company’s description.

Over the twelve months to Sep 30, 2026, NRC Health reported revenue of $143.79M, up 3.4% from a year earlier, and net income of $6.44M. Its operating margin was 11.1%, and operations generated $23.77M in cash. In fiscal 2025, it reported revenue of $137.39M, down 4.0% from fiscal 2024, and net income of $11.60M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$137.39MFY2025
−4.0% year over year
Last 12 mo $143.79M
16.44%FY2025
−8.2 percentage points
Last 12 mo 11.06%
$11.60MFY2025
−53.2% year over year
Last 12 mo $6.44M
82.92%FY2025
+3.7 percentage points
Last 12 mo -70.61%
Cash & financing
$26.45MFY2025
−23.6% year over year
Last 12 mo $23.77M
$15.74MFY2025
−17.9% year over year
Last 12 mo $18.45M
5.65FY2025
Was 2.00× a year earlier
Last 12 mo -11.28
22.4MFY2025
−5.7% year over year
Last 12 mo 22.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What NRC Health does

In the company’s own words

National Research Corporation (Nasdaq: NRC), doing business as NRC Health, provides subscription-based healthcare experience, market research, analytics, and governance services to healthcare organizations. Its digital solutions help providers collect and analyze feedback and improve patient, consumer, employee, and market experiences, including service recovery, care transitions, reputation management, engagement, and brand loyalty. Offerings include CAHPS-compliant surveys, consumer and market insights, online reputation tools, and Huey, an AI engine embedded in its experience platform. The company also provides governance services through The Governance Institute, whose membership supports not-for-profit health system boards, executives, and physician leaders with conferences, publications, advisory services, research, and an online portal. NRC Health generates most of its revenue from renewable customer subscriptions and serves healthcare organizations across the United States; more than 250 of the 400 largest U.S. healthcare systems use at least one solution. The company employed 357 associates as of December 31, 2025. Its website is www.nrchealth.com.

Company details
Sector
Health Care
Industry (SIC)
Professional Services
Headquarters
LINCOLN, NE
Fiscal year end
December
CIK
70487
SIC
8731

Financial performance, year by year

Fiscal 2011–2025 · USD
$-15.16M$30.31M$75.78M$121.25M$166.72M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns NRC Health — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

147
funds hold it
0 of 35
superinvestors hold it
$88.94M
held by funds, at market
20.5%
of shares held by funds

Largest fund holders · NRC Health’s weight in each

Virtus KAR Small-Cap Growth Fund
PSGAX · Virtus Equity Trust
3.22%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.01%of fund net assets
Heartland Value Fund
HRTVX · HEARTLAND GROUP INC.
—of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do NRC Health and its peers compare on margins and cash generation over ten years?”
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