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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	141.3	143.06	148.58	151.57	147.95	133.28
Revenue Growth (YoY)	-4.15%	-3.72%	-1.97%	2.44%	11.01%	4.14%
Cost of Revenue	56.13	56.93	56.02	57.05	52.35	49.19
Gross Profit	85.16	86.13	92.57	94.52	95.6	84.09
Selling, General & Admin	43.96	44.85	46.58	42.69	38.81	34.38
Operating Expenses	50.08	50.88	52.48	47.96	44.86	41.17
Operating Income	35.09	35.25	40.09	46.56	50.74	42.92
Interest Expense	-2.89	-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)	-0.02	-0.03	-0.04	-2.69	0	0.66
EBT Excluding Unusual Items	32.28	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	32.22	32.69	39.96	42.82	48.62	41.47
Income Tax Expense	8.01	7.91	8.99	11.02	11.16	4.21
Net Income	24.21	24.78	30.97	31.8	37.47	37.26
Preferred Dividends & Other Adjustments	0	0	0.01	0.02	0.02	0.06
Net Income to Common	24.21	24.78	30.96	31.78	37.45	37.2
Net Income Growth	-20.27%	-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)	-4.02%	-3.77%	-1.51%	-2.29%	-0.22%	0.17%
EPS (Basic)	1.03	1.05	1.26	1.28	1.47	1.48
EPS (Diluted)	1.02	1.04	1.25	1.27	1.46	1.45
EPS Growth	-17.82%	-16.80%	-1.57%	-13.01%	0.69%	15.08%
Free Cash Flow	14.94	19.18	22.33	26.43	40.83	36.65
Free Cash Flow Per Share	0.64	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	60.27%	60.20%	62.30%	62.36%	64.62%	63.09%
Operating Margin	24.83%	24.64%	26.98%	30.72%	34.30%	32.20%
Profit Margin	17.13%	17.32%	20.84%	20.97%	25.31%	27.91%
Free Cash Flow Margin	10.57%	13.41%	15.03%	17.44%	27.60%	27.50%
EBITDA	41.2	41.27	45.99	51.83	56.79	49.71
EBITDA Margin	29.16%	28.85%	30.95%	34.20%	38.39%	37.30%
D&A For EBITDA	6.12	6.02	5.9	5.28	6.05	6.79
EBIT	35.09	35.25	40.09	46.56	50.74	42.92
EBIT Margin	24.83%	24.64%	26.98%	30.72%	34.30%	32.20%
Effective Tax Rate	24.86%	24.19%	22.50%	25.73%	22.94%	10.14%

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

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