National Research (NRC)
Market Price (3/3/2026): $13.84 | Market Cap: $306.3 MilSector: Health Care | Industry: Health Care Technology
National Research (NRC)
Market Price (3/3/2026): $13.84Market Cap: $306.3 MilSector: Health CareIndustry: Health Care Technology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.0%, Dividend Yield is 3.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.6% | Weak multi-year price returns2Y Excs Rtn is -100%, 3Y Excs Rtn is -139% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9%, Rev Chg QQuarterly Revenue Change % is -3.4% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18% | Key risksNRC key risks include [1] a significant and ongoing earnings contraction cycle, Show more. | |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine. Themes include Health Data Analytics, and AI in Healthcare Management. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.0%, Dividend Yield is 3.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.6% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Megatrend and thematic driversMegatrends include Digital Health & Telemedicine. Themes include Health Data Analytics, and AI in Healthcare Management. |
| Weak multi-year price returns2Y Excs Rtn is -100%, 3Y Excs Rtn is -139% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.9%, Rev Chg QQuarterly Revenue Change % is -3.4% |
| Key risksNRC key risks include [1] a significant and ongoing earnings contraction cycle, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Weak Q4 2025 Financial Performance: National Research (NRC) reported a 5% year-over-year decline in Q4 2025 revenue to $35.2 million and a significant drop in adjusted earnings per share (EPS) to $0.16, down from $0.29 in the prior-year period. This weaker-than-expected financial outcome directly led to a substantial stock price decrease of nearly 20% in aftermarket trading following the announcement, and a 27.2% decline since the earnings report.
2. Impact of Prior-Year Attrition on Revenue Recognition: The company's revenue was significantly impacted by "unusually heavy" Total Recurring Contract Value (TRCV) attrition experienced during the second half of 2024. This attrition created a challenging comparison base for Q4 2025, leading to a 4% decline in full-year 2025 revenue to $137.4 million.
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Stock Movement Drivers
Fundamental Drivers
The -17.8% change in NRC stock from 11/30/2025 to 3/2/2026 was primarily driven by a -17.8% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 3022026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.85 | 13.85 | -17.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 139 | 139 | 0.0% |
| Net Income Margin (%) | 11.8% | 11.8% | 0.0% |
| P/E Multiple | 22.8 | 18.7 | -17.8% |
| Shares Outstanding (Mil) | 22 | 22 | 0.0% |
| Cumulative Contribution | -17.8% |
Market Drivers
11/30/2025 to 3/2/2026| Return | Correlation | |
|---|---|---|
| NRC | -17.8% | |
| Market (SPY) | 0.4% | 31.6% |
| Sector (XLV) | 0.6% | -0.1% |
Fundamental Drivers
The -4.1% change in NRC stock from 8/31/2025 to 3/2/2026 was primarily driven by a -7.9% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 3022026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.44 | 13.85 | -4.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 140 | 139 | -0.9% |
| Net Income Margin (%) | 12.8% | 11.8% | -7.9% |
| P/E Multiple | 18.2 | 18.7 | 2.7% |
| Shares Outstanding (Mil) | 23 | 22 | 2.4% |
| Cumulative Contribution | -4.1% |
Market Drivers
8/31/2025 to 3/2/2026| Return | Correlation | |
|---|---|---|
| NRC | -4.1% | |
| Market (SPY) | 6.7% | 16.6% |
| Sector (XLV) | 15.9% | 7.9% |
Fundamental Drivers
The -1.9% change in NRC stock from 2/28/2025 to 3/2/2026 was primarily driven by a -37.4% change in the company's Net Income Margin (%).| (LTM values as of) | 2282025 | 3022026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.11 | 13.85 | -1.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 144 | 139 | -3.5% |
| Net Income Margin (%) | 18.8% | 11.8% | -37.4% |
| P/E Multiple | 12.4 | 18.7 | 51.5% |
| Shares Outstanding (Mil) | 24 | 22 | 7.2% |
| Cumulative Contribution | -1.9% |
Market Drivers
2/28/2025 to 3/2/2026| Return | Correlation | |
|---|---|---|
| NRC | -1.9% | |
| Market (SPY) | 16.5% | 26.9% |
| Sector (XLV) | 7.9% | 19.2% |
Fundamental Drivers
The -66.6% change in NRC stock from 2/28/2023 to 3/2/2026 was primarily driven by a -48.7% change in the company's Net Income Margin (%).| (LTM values as of) | 2282023 | 3022026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.41 | 13.85 | -66.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 152 | 139 | -8.3% |
| Net Income Margin (%) | 22.9% | 11.8% | -48.7% |
| P/E Multiple | 29.4 | 18.7 | -36.3% |
| Shares Outstanding (Mil) | 25 | 22 | 11.7% |
| Cumulative Contribution | -66.6% |
Market Drivers
2/28/2023 to 3/2/2026| Return | Correlation | |
|---|---|---|
| NRC | -66.6% | |
| Market (SPY) | 79.7% | 25.8% |
| Sector (XLV) | 30.5% | 26.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NRC Return | -2% | -8% | 10% | -54% | 10% | -29% | -65% |
| Peers Return | 5% | -32% | -5% | -24% | -44% | -28% | -79% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 0% | 83% |
Monthly Win Rates [3] | |||||||
| NRC Win Rate | 58% | 50% | 33% | 33% | 50% | 33% | |
| Peers Win Rate | 45% | 40% | 52% | 40% | 33% | 7% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| NRC Max Drawdown | -6% | -23% | 0% | -56% | -42% | -36% | |
| Peers Max Drawdown | -17% | -52% | -36% | -41% | -50% | -34% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HSTM, PHR, DH, HCAT, EVH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/2/2026 (YTD)
How Low Can It Go
| Event | NRC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -41.5% | -25.4% |
| % Gain to Breakeven | 71.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -50.2% | -33.9% |
| % Gain to Breakeven | 100.9% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -26.4% | -19.8% |
| % Gain to Breakeven | 35.9% | 24.7% |
| Time to Breakeven | 175 days | 120 days |
Compare to HSTM, PHR, DH, HCAT, EVH
In The Past
National Research's stock fell -41.5% during the 2022 Inflation Shock from a high on 8/23/2021. A -41.5% loss requires a 71.0% gain to breakeven.
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About National Research (NRC)
AI Analysis | Feedback
```htmlHere are 1-3 brief analogies to describe National Research (NRC):
- NRC Health is like J.D. Power for healthcare patient and employee experience.
- NRC Health is like Gartner for healthcare experience data and analytics.
- NRC Health is like Qualtrics, but exclusively focused on the healthcare industry.
AI Analysis | Feedback
- Patient Experience Solutions: Provides platforms and analytics to healthcare organizations to measure, understand, and improve the patient journey and satisfaction.
- Workforce Engagement Solutions: Offers tools and surveys to assess and enhance employee and physician engagement, alignment, and retention within healthcare systems.
- Consumer Loyalty & Market Insights: Delivers data-driven insights and analytics to help healthcare providers understand consumer behavior, build loyalty, and identify market growth opportunities.
- Reputation Management: Enables healthcare organizations to monitor, manage, and improve their online reputation through patient feedback and review management.
AI Analysis | Feedback
National Research (symbol: NRC) sells primarily to other companies (Business-to-Business, or B2B) within the healthcare sector.
NRC Health, the operating name for National Research, provides healthcare intelligence, analytics, and solutions to help organizations improve patient experience, provider engagement, and overall quality. As such, their customer base consists of a wide array of healthcare providers across the United States.
While NRC serves numerous healthcare organizations, it does not typically disclose specific individual "major customers" by name in its public filings (such as 10-K reports), as no single customer generally accounts for a material portion of its revenue (e.g., 10% or more). Instead, its customer base is diversified across the following types of healthcare organizations, which collectively represent its major customer segments:
- Hospitals and Health Systems: This includes individual hospitals as well as large integrated health systems comprising multiple hospitals, clinics, and specialized care facilities. Examples of prominent systems they have worked with (though not necessarily designated as "major" by revenue share) include Sutter Health, Intermountain Healthcare, and Parkview Health. These are typically private or non-profit entities and do not have public stock symbols.
- Physician Groups and Clinics: Independent physician practices and larger groups of medical professionals.
- Long-Term Care Facilities: Such as nursing homes, assisted living facilities, and other post-acute care providers.
- Other Healthcare Providers: This can include home health agencies, hospices, and other specialized treatment centers.
Given the nature of their business and diversified customer base, NRC's "major customers" are best understood as the collective body of healthcare organizations within these categories, rather than a few specific, named entities representing a dominant share of revenue.
AI Analysis | Feedback
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Trent Green, Chief Executive Officer
Trent Green was appointed Chief Executive Officer of NRC Health effective June 1, 2025. He brings over 25 years of healthcare leadership experience, having most recently served as CEO of One Medical and previously as Chief Operating Officer at Legacy Health. Green is recognized as a visionary leader and was named to the inaugural list of TIME100 Most Influential People in Health.
Shane Harrison, Executive Vice President and Chief Financial Officer
Shane Harrison was appointed Executive Vice President and Chief Financial Officer, effective on or about September 25, 2025. He is a seasoned finance leader with more than 25 years of experience. Prior to joining NRC Health, he served as Senior Vice President of Finance and Investor Relations at PowerSchool, a K-12 education SaaS provider, since 2022. He also held positions as Senior Vice President of Corporate Development for NAVEX Global from 2019-2021, and various roles including Senior Vice President of Corporate Development and Investor Relations, Corporate Treasurer, and Interim CFO for FLIR Systems from 2010-2019. Harrison began his career with Deloitte and was an investment banker at Lehman Brothers.
Michael D. Hays, Chairman of the Board
Michael D. Hays founded National Research Corporation (NRC Health) in 1981 and served as its CEO for over four decades, leading the company until Trent Green's appointment in June 2025, at which point he transitioned to Chairman of the Board. Prior to founding NRC Health, Hays served for seven years as a Vice President and Director at SRI Research Center, Inc., which is now known as the Gallup Organization.
Helen Hrdy, Chief Operating Officer
Helen Hrdy serves as the Chief Operating Officer for NRC Health. She has extensive experience with National Research Corporation, spanning over two decades, having risen through the ranks in roles focused on customer relations and growth initiatives.
Jordan N. Freeman, Chief Accounting Officer
Jordan N. Freeman was named the Chief Accounting Officer, joining the company in April 2025 as Vice President, Finance Operations. Freeman's professional background includes significant experience in accounting and finance, having held various roles at Nelnet, Inc., a publicly traded company, ranging from Director of Accounting to Segment Controller. She is also a Certified Public Accountant with previous experience at HBE Becker Meyer Love, LLP, and as a Senior Audit Associate with Deloitte & Touche LLP.
AI Analysis | Feedback
The key risks to National Research Corporation's (NRC) business are:
-
Declining Revenue and Earnings Contraction: National Research Corporation has experienced a notable slowdown in revenue and a contraction in earnings. In Q3 2025, GAAP net income decreased by 27.5%, and revenue saw a 3.4% year-over-year dip. The trailing twelve months (TTM) revenue also showed a decline of 3.51%, indicating challenges with existing clients. This trend includes an 82% decrease in operating income and a net loss in Q2 2025 compared to the prior year. Over the past five years, earnings have declined by 11.8% annually, signaling an earnings contraction cycle characterized by falling sales, margin pressure, and limited opportunities for reinvestment.
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Highly Competitive Market and Industry Consolidation: The company operates within a highly competitive healthcare information and market research services industry, which can lead to increased price pressure and potential loss of market share. Furthermore, ongoing consolidation within the healthcare industry reduces the number of potential clients and grants remaining clients greater leverage in pricing negotiations. The market is characterized by "commodity products" and "excess supply," contributing to lower margins and slower capital turnover for businesses in this sector.
-
Reliance on Existing Clients and Client Retention: A significant risk for NRC is its dependence on existing clients for revenue. A slowdown in revenue from these clients is a core concern, exacerbated by rising costs and a challenging regulatory environment. The company experienced a $1.3 million reduction in recurring revenue from existing clients in Q2 2025. Client contracts are often cancelable on short notice without penalty, meaning that any failure of clients to renew or defer their agreements could materially impact the company's financial results. A substantial portion of NRC's revenue, historically around 14-15%, comes from its ten largest clients, highlighting the risk associated with client concentration.
AI Analysis | Feedback
The public company National Research (symbol: NRC), known as NRC Health, operates in the healthcare IT sector, providing patient experience and engagement solutions, including surveys, analytics, and improvement tools for healthcare providers.
A clear emerging threat for NRC is the **rapid advancement and adoption of artificial intelligence (AI) and natural language processing (NLP) for sentiment analysis and real-time patient insight generation.** Historically, NRC's core business relies heavily on structured patient surveys (e.g., CAHPS, HCAHPS) and proprietary data collection methodologies. However, increasingly sophisticated AI and NLP technologies enable new entrants, existing competitors, or even large hospital systems themselves to analyze vast amounts of unstructured patient data—such as online reviews, social media comments, call center transcripts, patient portal messages, and clinician notes—to derive real-time sentiment, identify pain points, and understand the patient journey more comprehensively and continuously. This capability could commoditize traditional survey data, shifting the value proposition towards dynamic, AI-driven insights from a broader spectrum of data sources, potentially diminishing the unique value of NRC's survey-centric offerings.
Another clear emerging threat is the **increasing integration of patient experience and feedback tools directly into major Electronic Health Record (EHR) systems.** As dominant EHR vendors like Epic and Cerner continuously enhance their platforms, they are incorporating more robust patient engagement features, communication tools, and feedback mechanisms directly within their native systems and patient portals. Healthcare providers, seeking to streamline their technology stack and reduce costs, may increasingly opt for these "good enough" integrated EHR solutions for basic patient feedback and experience management, thereby reducing their reliance on or need for specialized third-party patient experience vendors like NRC Health. This trend could lead to a "platform lock-in" effect where a unified EHR system becomes the preferred hub for all patient-related interactions, including experience measurement.
AI Analysis | Feedback
National Research Corporation (NRC Health) focuses on providing analytics and insights to healthcare organizations, primarily in the United States and Canada, to improve patient and employee experiences and increase patient engagement and customer loyalty. Their main products and services encompass several key areas, each with an addressable market.
Here are the estimated addressable market sizes for NRC Health's main products and services:
-
Patient Engagement & Experience Solutions:
- The global patient engagement solutions market was valued at approximately USD 27.63 billion in 2024 and is projected to reach USD 86.67 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 20.97% from 2025 to 2030.
- Another estimate places the global patient engagement solutions market at USD 28.69 billion in 2025, expected to reach USD 54.79 billion by 2030.
- The patient experience technology market, a component of this, is projected to reach USD 1.16 billion by 2030 from USD 0.66 billion in 2025 globally.
- In North America, the patient engagement solutions market was valued at USD 11.1 billion in 2023.
- The U.S. patient engagement solutions market size was USD 7.40 billion in 2025 and is predicted to grow to approximately USD 25.21 billion by 2034.
-
Healthcare Analytics:
- The global healthcare analytics market was estimated at USD 52.98 billion in 2024 and is projected to reach USD 198.79 billion by 2033, with a CAGR of 14.85% from 2025 to 2033.
- Other estimates show the global market at USD 35.41 billion in 2024, expected to reach USD 205.5 billion by 2032, or USD 44.83 billion in 2024, projected to reach USD 133.19 billion by 2029.
- North America is a dominant region in healthcare analytics, holding a revenue share of 48.0% in the global market in 2024.
-
Healthcare Survey Tools (for patient feedback and performance measurement, including CAHPS programs):
- The global healthcare survey tools market is estimated to be USD 2.5 billion in 2025, growing at a CAGR of 15% from 2025 to 2033.
- Another report indicates the global healthcare survey tools market size was approximately USD 1.2 billion in 2023 and is projected to reach around USD 3.5 billion by 2032.
- North America currently holds the largest market share in this sector.
-
Consumer Experience Solutions (aligned with the broader Consumer Healthcare Market):
- The global consumer healthcare market size was calculated at USD 330.89 billion in 2024 and is expected to hit around USD 708.44 billion by 2034, growing at a CAGR of 7.91% from 2025 to 2034.
- North America dominated the market in 2024.
-
Employee Engagement and Physician Engagement:
- Specific addressable market sizes for healthcare-focused employee and physician engagement solutions are not readily available as distinct, standalone markets in the provided search results. These services are often integrated within broader human resources technology, patient experience platforms, or healthcare consulting services, for which specific market sizes for NRC Health's offerings cannot be isolated.
AI Analysis | Feedback
National Research Corporation (NRC) anticipates several key drivers to fuel its revenue growth over the next 2-3 years, focusing on expanding its customer base, deepening existing client relationships, and enhancing its product offerings. Here are the expected drivers of future revenue growth for National Research: * Growth in Total Recurring Contract Value (TRCV) through New Customer Acquisition: NRC has observed sustained momentum in its Total Recurring Contract Value (TRCV), which is considered a leading indicator of future recurring revenue. This growth is driven by a stronger and highly motivated sales team, resulting in increased win rates and average win sizes, along with the acquisition of new customers. The company has secured multiple new deals, including significant new logo wins. * Expansion within the Existing Customer Base through Cross-selling and Upselling: National Research is actively strengthening its customer success capabilities to engage more deeply with its existing clients' organizations. This strategy is proving successful in expanding business with current customers through cross-sell momentum. Over the past year, customer strategy teams have significantly reduced TRCV losses and downsells, and NRC has secured substantial cross-sell deals with top health systems. * Leveraging a Comprehensive Product Portfolio and Introducing AI-driven Innovations: The company has rounded out its comprehensive experience portfolio, which has contributed to stronger year-to-date sales. Customers are choosing NRC for the breadth of its products, the value of its unique data insights, and its enablement tools. Furthermore, NRC's operational priorities include modernizing its technology platform to support seamless integration and to develop new AI-driven innovations, which are expected to enhance its offerings and drive future value. * Capitalizing on the Evolving U.S. Healthcare Market Opportunity: The U.S. healthcare landscape is undergoing significant changes, marked by shifting consumer expectations, regulatory complexities, workforce challenges, and financial pressures. NRC Health views this evolving market as a substantial opportunity, as healthcare organizations increasingly need solutions to connect with patients and adapt to systemic forces. NRC's focus on delivering meaningful insights across healthcare stakeholders to drive better outcomes aligns with these market demands.AI Analysis | Feedback
Share Repurchases
- In May 2022, the Board of Directors approved a new stock repurchase authorization of 2,500,000 shares of common stock.
- During the fourth quarter of 2024, the company repurchased approximately 393,000 shares for about $7.3 million.
- For the first nine months of 2025, National Research repurchased shares totaling $20.2 million.
Share Issuance
- In the third quarter of 2025, there was an issuance of 75,283 shares of common stock related to the exercise of stock options.
Capital Expenditures
- In 2023, capital expenditures amounted to $15.8 million, primarily focused on computer software development for Human Understanding solutions and headquarters building renovations.
- In 2022, capital expenditures were $9.8 million, mainly for computer software development ($3.6 million) and headquarters building renovations ($5.1 million).
- Expected capital expenditures for headquarters building renovations are estimated at $11.6 million for 2024 and $1.4 million for 2025.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| National Research Earnings Notes | 12/16/2025 | |
| National Research Stock Jump Looks Great, But How Secure Is That Gain? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
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| 02282026 | QDEL | QuidelOrtho | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 02272026 | CHE | Chemed | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 02272026 | LLY | Eli Lilly | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 02202026 | HAE | Haemonetics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.5% | 3.5% | 0.0% |
| 02132026 | IQV | IQVIA | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | -3.0% |
| 09302019 | NRC | National Research | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | -21.7% | -14.1% | -39.2% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 7.92 |
| Mkt Cap | 0.4 |
| Rev LTM | 307 |
| Op Inc LTM | -5 |
| FCF LTM | 20 |
| FCF 3Y Avg | 25 |
| CFO LTM | 42 |
| CFO 3Y Avg | 41 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.1% |
| Rev Chg 3Y Avg | 5.4% |
| Rev Chg Q | -1.7% |
| QoQ Delta Rev Chg LTM | -0.4% |
| Op Mgn LTM | -1.0% |
| Op Mgn 3Y Avg | -4.7% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 15.8% |
| CFO/Rev 3Y Avg | 11.3% |
| FCF/Rev LTM | 8.0% |
| FCF/Rev 3Y Avg | 6.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.4 |
| P/S | 1.0 |
| P/EBIT | -1.0 |
| P/E | -0.9 |
| P/CFO | 6.2 |
| Total Yield | -16.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.4% |
| D/E | 0.9 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -15.2% |
| 3M Rtn | -27.7% |
| 6M Rtn | -55.8% |
| 12M Rtn | -57.0% |
| 3Y Rtn | -78.0% |
| 1M Excs Rtn | -15.9% |
| 3M Excs Rtn | -30.7% |
| 6M Excs Rtn | -64.0% |
| 12M Excs Rtn | -74.1% |
| 3Y Excs Rtn | -149.1% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Analytics and insights that facilitate the measurement and improvement of patient and employee | 149 | 152 | 148 | 133 | 128 |
| Total | 149 | 152 | 148 | 133 | 128 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Analytics and insights that facilitate the measurement and improvement of patient and employee | 40 | ||||
| Total | 40 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Analytics and insights that facilitate the measurement and improvement of patient and employee | 31 | ||||
| Total | 31 |
Price Behavior
| Market Price | $13.85 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 05/23/2013 | |
| Distance from 52W High | -38.4% | |
| 50 Days | 200 Days | |
| DMA Price | $17.61 | $15.33 |
| DMA Trend | up | indeterminate |
| Distance from DMA | -21.4% | -9.7% |
| 3M | 1YR | |
| Volatility | 72.5% | 57.6% |
| Downside Capture | 272.14 | 131.07 |
| Upside Capture | 139.57 | 108.94 |
| Correlation (SPY) | 31.7% | 26.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.58 | 2.65 | 2.17 | 0.86 | 0.80 | 0.76 |
| Up Beta | 1.74 | 2.85 | 3.20 | 0.53 | 0.76 | 0.84 |
| Down Beta | 2.79 | 2.36 | 2.20 | 0.42 | 0.35 | 0.36 |
| Up Capture | 220% | 138% | 121% | 96% | 108% | 26% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 10 | 20 | 33 | 62 | 130 | 362 |
| Down Capture | 575% | 366% | 241% | 133% | 118% | 106% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 11 | 21 | 28 | 60 | 118 | 383 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NRC | |
|---|---|---|---|---|
| NRC | -1.3% | 57.4% | 0.20 | - |
| Sector ETF (XLV) | 9.1% | 17.4% | 0.35 | 19.2% |
| Equity (SPY) | 18.4% | 19.3% | 0.75 | 26.9% |
| Gold (GLD) | 86.5% | 25.7% | 2.41 | -22.3% |
| Commodities (DBC) | 16.5% | 17.1% | 0.73 | -12.1% |
| Real Estate (VNQ) | 7.1% | 16.6% | 0.24 | 16.9% |
| Bitcoin (BTCUSD) | -22.3% | 45.0% | -0.43 | 9.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NRC | |
|---|---|---|---|---|
| NRC | -21.3% | 40.4% | -0.47 | - |
| Sector ETF (XLV) | 8.5% | 14.5% | 0.40 | 28.1% |
| Equity (SPY) | 13.6% | 17.0% | 0.63 | 28.7% |
| Gold (GLD) | 23.9% | 17.2% | 1.14 | -7.0% |
| Commodities (DBC) | 11.1% | 19.0% | 0.47 | -2.9% |
| Real Estate (VNQ) | 5.1% | 18.8% | 0.17 | 27.0% |
| Bitcoin (BTCUSD) | 6.2% | 56.8% | 0.33 | 12.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NRC | |
|---|---|---|---|---|
| NRC | 1.7% | 39.2% | 0.17 | - |
| Sector ETF (XLV) | 10.8% | 16.5% | 0.54 | 37.4% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 40.8% |
| Gold (GLD) | 15.6% | 15.6% | 0.84 | -2.1% |
| Commodities (DBC) | 8.9% | 17.6% | 0.42 | 8.0% |
| Real Estate (VNQ) | 6.5% | 20.7% | 0.28 | 39.4% |
| Bitcoin (BTCUSD) | 65.1% | 66.8% | 1.05 | 14.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/3/2026 | -19.5% | ||
| 10/27/2025 | 16.0% | 16.0% | 57.8% |
| 7/28/2025 | -4.8% | -2.0% | 10.4% |
| 4/28/2025 | 9.5% | 17.9% | 22.7% |
| 1/27/2025 | -11.9% | -12.7% | -20.7% |
| 10/25/2024 | 4.5% | 1.1% | 9.4% |
| 8/6/2024 | -9.5% | -5.1% | -5.0% |
| 5/7/2024 | -16.5% | -12.2% | -24.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 13 | 14 |
| # Negative | 14 | 11 | 10 |
| Median Positive | 3.6% | 4.8% | 9.1% |
| Median Negative | -3.3% | -4.4% | -10.0% |
| Max Positive | 16.0% | 17.9% | 57.8% |
| Max Negative | -19.5% | -12.7% | -47.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/17/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/27/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 03/03/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 03/04/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Freeman, Jordan Nicole | Chief Accounting Officer | Direct | Buy | 8042025 | 12.97 | 771 | 10,000 | 10,000 | Form |
| 2 | Beans, Patrick E | Direct | Buy | 5132025 | 13.59 | 2,500 | 33,974 | 475,673 | Form | |
| 3 | Harrison, Shane R | EVP & Chief Financial Officer | IRA | Buy | 2192026 | 12.27 | 8,000 | 98,162 | 98,162 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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