National Research Corp (NRC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of National Research Corp stock $10.79, price $25.86, that is 58.3% below the price, quality 63 out of 100. Rating: strongly overvalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $9.64 – $47.45 · fair‑value band $6.03 – $15.03 · the $25.86 price screens above the $10.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 4, 2026.
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NRC Health provides analytics and insights to measure and improve patient and employee experience for healthcare organizations in the United States.
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The company offers market experience solutions, a subscription-based services for improved tracking of awareness, perception, and consistency of healthcare brands; assessment of differentiators; and segmentation tools to evaluate the needs, wants, and behaviors of communities through assessments.
It also provides patient experience solutions, a cross-continuum multi-mode digital platform that collects and measures data to improve patient experience, engagement, and loyalty; employee experience solutions, which combines health care with technology comprising engagement, pulse, lifecycle, culture of safety, and magnet RN satisfaction; and consumer experience solution that offers online reputation solutions, community insights, and cross-journey listening through nGage.
In addition, the company offers Huey, an AI engine built for Human Understanding that serves as a healthcare experience management companion; and governance solutions provided through national conferences, publications, advisory services, and an online portal for not-for-profit health system boards of directors, executives, and physician leadership.
Further, it provides patient experience, service recovery, care transitions, employee engagement, reputation management, rounding, and brand loyalty. The company was formerly known as National Research Corporation and changed its name to NRC Health April 2026.
The company was founded in 1981 and is headquartered in Lincoln, Nebraska.
Stock analysis
National Research Corp (NRC) currently trades at $25.86, while our model-based Fair Value estimate is $10.79, 58% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $12.03 per share, and 0 of the 24 models we run sit above the $25.86 price.
Bear case: the Economic Profit group reads lowest at $4.11, and 24 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $6.03 (bear) to $15.03 (bull), the price of $25.86 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Healthcare sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
National Research Corp reported revenue of $137M in FY2025 versus $148M in FY2021, a compound −1.8%/yr. Reported net income was $11.6M in FY2025, compounding −25.4%/yr from FY2021.
Key figures
Market cap $569M Small · P/E ratio 95.8 · P/S ratio 3.96 · EPS (TTM) $0.2700 · Dividend yield 2.5% · Net margin 4.5% · Return on equity 248% · Return on assets (EBIT) 28.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 120% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 3% fair-value upside, at −58%, NRC screens richer than that median.
Fair Value models
Bear$6.03Fair Value $10.79Bull$15.03
Price $25.86 · Downside -58.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
BuyShane R HarrisonEVP & Chief Financial Officer8,000 shares at $12.27$98,160Feb 17, 2026
Plus 5 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−4.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.6%
Start year 2020 (pandemic). Over 10 years: +3.0% a year
Revenue growth 32 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−14.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.5%
Dividend (yield on the price)2.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−18.6% vs −3.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 16%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+23.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +20.5% a year for the price.
News mood ⓘNews mood, the average tone of recent news (63 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Health Information Services · 116 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside−58.3% · Below median
Profitability
Return on equity (12 months)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets8.6% · Top 25%
Net margin (12 months)4.5% · Above median
Operating margin (12 months)23.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)11.0% · Above median
Dividend yield (12 months)2.5% · Above median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Health Information Services median · lower = cheaper
P/E (12 months)95.8× · Priciest 25%
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months)3.96× · Pricier than median
Price / free cash flow (fiscal year)36.2× · Pricier than median
EV/EBITDA20.5× · Pricier than median
PEG1.32× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 2
FUTURE (revenue growth)55· sector 48
PAST (return on equity)0· sector 10
HEALTH (low debt)0· sector 98
DIVIDEND (yield)49· sector 45
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "National Research Corp Fair Value". https://www.fairvalue-calculator.com/stock/NRC
Frequently asked questions
Is National Research Corp (NRC) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $10.79 versus a price of $25.86, about 58% lower (overvalued).
What is the fair value of NRC?
Our model-based fair value for National Research Corp is $10.79 (as of Nov 4, 2026), built from audited fundamentals. The current price: $25.86.
What is the quality score of NRC?
National Research Corp has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for National Research Corp (NRC)?
Our model-based price target is the fair value of $10.79 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario $6.03, optimistic scenario $15.03. It is a calculation from audited fundamentals, not an analyst target.
What is the National Research Corp stock forecast for 2026?
Our models put fair value at $10.79, about 58% lower versus a price of $25.86 (overvalued). Cautious scenario $6.03, optimistic scenario $15.03. The calculation is refreshed regularly with new filings.
What is the revenue of National Research Corp (NRC)?
National Research Corp reported trailing-twelve-month revenue of about $144M (latest available figure, as of Nov 4, 2026).
Does National Research Corp pay a dividend?
National Research Corp currently shows a dividend yield of 2.47% relative to its recent price (as of Nov 4, 2026).
How much is the dividend of National Research Corp (NRC) and when is the ex-dividend date?
National Research Corp pays a dividend of $0.64 per share a year, a dividend yield of 2.5%. The next ex-dividend date is Dec 29, 2026. A dividend has been paid every year since at least 2014. Free cash flow covers the dividend 1.16 times. Our assessment: Payout strained. The dividend exceeds reported earnings (though reported profit is often depressed by one-off charges), and free cash flow only just covers it (or coverage is unknown). Not an emergency, but little room for error.
What growth is priced into National Research Corp (NRC)?
For today's price to be fair in a discounted-cash-flow model, National Research Corp would have to grow free cash flow by +23.4 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.6 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of NRC use?
Our models discount National Research Corp at 9.8 %: a base by market capitalisation (small), damped by beta 0.28, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For National Research Corp that is +23.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has National Research Corp (NRC) delivered so far?
Over the past 5 years revenue at National Research Corp grew +0.6 % a year. The price currently implies free-cash-flow growth of +23.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of National Research Corp (NRC) growing?
The median revenue growth in the sector is +6.3 % a year. That is the yardstick for the growth priced into National Research Corp (+23.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of National Research Corp (NRC)?
The free-cash-flow yield on the price is 2.77 %: that much free cash flow National Research Corp produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of National Research Corp (NRC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For National Research Corp it is $10.79 per share (as of Nov 4, 2026), against a price of $25.86. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is National Research Corp stock overvalued or undervalued in 2026?
As of Nov 4, 2026, NRC trades above its calculated fair value: price $25.86, fair value $10.79, a gap of about −58% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NRC?
No. The price is what the market pays today ($25.86); the fair value is what the company's own numbers justify ($10.79). For National Research Corp the two are $15.07 per share apart. That gap is exactly why we show both numbers side by side.
How much is National Research Corp worth?
The market values National Research Corp at about $569M (market capitalisation, as of Nov 4, 2026). Per share that is $25.86; our models calculate a fair value of $10.79 per share.
What do the bullish and bearish scenarios say about NRC?
Our models span a range for National Research Corp: cautious scenario $6.03, base $10.79, optimistic $15.03 per share (as of Nov 4, 2026, price $25.86). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NRC?
National Research Corp trades at a price-to-earnings ratio of 95.8 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $10.79 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2023 ex one-offs: 31.7. Other multiples: PEG 1.3, P/S 4.0, EV/EBITDA 20.5.
What is the PEG ratio of NRC?
The PEG ratio of National Research Corp is 1.32 (P/E divided by earnings growth, as of Nov 4, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of National Research Corp (NRC)?
Balance-sheet figures for National Research Corp (as of Nov 4, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is NRC from its 52-week high?
National Research Corp trades at $25.86, about 4% below its 52-week high of $27.07 and 120% above the low of $11.73 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $10.79 is for.
Which stocks are comparable to National Research Corp?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, Hinge Health, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is National Research Corp stock attractive at the current price?
The data as of Nov 4, 2026: price $25.86, calculated fair value $10.79 (−58%), Quality Score 63/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NRC calculated?
We run National Research Corp through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $10.79 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. National Research Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of National Research Corp (NRC)?
The closing price on Nov 6, 2026 was $25.86. Our model-based fair value is $10.79, about 58% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with National Research Corp right now?
The price sits above even our optimistic bull case ($15.03). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($6.03 to $15.03) leaves room in how you read the outcome.
Where does the earnings growth of National Research Corp (NRC) come from?
Earnings per share at National Research Corp grew +2.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.1 %, EBIT margin −2.1 %, tax rate +1.5 %, residual (interest, one-offs) −1.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of National Research Corp
How large is the market capitalisation of National Research Corp (NRC)?
The market capitalisation of National Research Corp is $569M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of National Research Corp (NRC)?
The price-to-sales ratio of National Research Corp is 3.96 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of National Research Corp (NRC)?
Earnings per share at National Research Corp are $0.2700 (price ÷ EPS = P/E 95.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of National Research Corp (NRC)?
The dividend yield of National Research Corp is 2.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of National Research Corp (NRC)?
The net margin of National Research Corp is 4.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of National Research Corp (NRC)?
The return on equity (ROE) of National Research Corp is 248% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of National Research Corp (NRC)?
On an EBIT basis the return on assets of National Research Corp is 28.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of National Research Corp (NRC)?
The operating margin of National Research Corp is 23.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at National Research Corp (NRC)?
Revenue at National Research Corp is growing +11.0% versus a year earlier (3y avg −3.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at National Research Corp (NRC)?
Earnings per share at National Research Corp are growing +16.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does National Research Corp (NRC) carry?
The net debt of National Research Corp is $74.9M (fiscal year 2025, ≈ 4.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 4, 2026