National Research Corporation (NRC)

National Research Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	140.31	143.06	148.58	151.57	147.95	133.28
Revenue Growth (YoY)	-4.08%	-3.72%	-1.97%	2.44%	11.01%	4.14%
Cost of Revenue	55.69	56.93	56.02	57.05	52.35	49.19
Gross Profit	84.63	86.13	92.57	94.52	95.6	84.09
Selling, General & Admin	50.47	44.85	46.58	42.69	38.81	34.38
Operating Expenses	56.82	50.88	52.48	47.96	44.86	41.17
Operating Income	27.81	35.25	40.09	46.56	50.74	42.92
Interest Expense	-3.37	-2.6	-0.86	-1.21	-1.67	-1.81
Interest & Investment Income	0.1	0.13	0.82	0.17	0.01	0.02
Currency Exchange Gain (Loss)	-	-	-	-	-	-0.33
Other Non Operating Income (Expenses)	-0.01	-0.03	-0.04	-2.69	0	0.66
EBT Excluding Unusual Items	24.53	32.75	40	42.83	49.1	41.45
Merger & Restructuring Charges	-	-	-	-	-0.12	-
Impairment of Goodwill	-	-	-	-	-	-0.71
Asset Writedown	-0.06	-0.06	-0.04	-0.01	-0.36	-0.06
Pretax Income	24.48	32.69	39.96	42.82	48.62	41.47
Income Tax Expense	6.55	7.91	8.99	11.02	11.16	4.21
Net Income	17.93	24.78	30.97	31.8	37.47	37.26
Preferred Dividends & Other Adjustments	0.09	0	0.01	0.02	0.02	0.06
Net Income to Common	17.84	24.78	30.96	31.78	37.45	37.2
Net Income Growth	-38.74%	-19.98%	-2.61%	-15.12%	0.55%	14.98%
Shares Outstanding (Basic)	23	24	25	25	25	25
Shares Outstanding (Diluted)	23	24	25	25	26	26
Shares Change (YoY)	-4.49%	-3.77%	-1.51%	-2.29%	-0.22%	0.17%
EPS (Basic)	0.77	1.05	1.26	1.28	1.47	1.48
EPS (Diluted)	0.77	1.04	1.25	1.27	1.46	1.45
EPS Growth	-35.42%	-16.80%	-1.57%	-13.01%	0.69%	15.08%
Free Cash Flow	9.27	19.18	22.33	26.43	40.83	36.65
Free Cash Flow Per Share	0.40	0.81	0.91	1.05	1.59	1.43
Dividend Per Share	0.480	0.480	0.480	0.840	0.480	0.210
Dividend Growth	-	-	-42.86%	75.00%	128.57%	-73.08%
Gross Margin	60.31%	60.20%	62.30%	62.36%	64.62%	63.09%
Operating Margin	19.82%	24.64%	26.98%	30.72%	34.30%	32.20%
Profit Margin	12.72%	17.32%	20.84%	20.97%	25.31%	27.91%
Free Cash Flow Margin	6.61%	13.41%	15.03%	17.44%	27.60%	27.50%
EBITDA	34.16	41.27	45.99	51.83	56.79	49.71
EBITDA Margin	24.34%	28.85%	30.95%	34.20%	38.39%	37.30%
D&A For EBITDA	6.35	6.02	5.9	5.28	6.05	6.79
EBIT	27.81	35.25	40.09	46.56	50.74	42.92
EBIT Margin	19.82%	24.64%	26.98%	30.72%	34.30%	32.20%
Effective Tax Rate	26.75%	24.19%	22.50%	25.73%	22.94%	10.14%

Updated Jul 28, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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