National Research (NR1A) AI Stock Analysis

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National Research

(Frankfurt:NR1A)

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Positive Factors

Recurring Contract GrowthDouble-digit growth in total recurring contract value supports durable revenue visibility and indicates continued demand across multiple product portfolios. Because these offerings are typically embedded in ongoing healthcare workflows, sustained bookings can strengthen retention, cross-selling, and future cash generation.

Negative Factors

Leveraged Balance SheetHigher debt combined with negative equity materially reduces financial flexibility and leaves less room to absorb operating setbacks. The shift from historically conservative leverage to an elevated debt burden can constrain investment, acquisitions, debt reduction, and other capital allocation choices.

National Research (NR1A) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 598.78M
Dividend Yield: 2.72%
Average Volume (3M): ―
Price to Earnings (P/E): 89.5
Beta (1Y): 0.38
Revenue Growth: -1.84%
EPS Growth: -62.07%
Country: Germany
Employees: 357
Sector: Healthcare
Sector Strength: 51
Industry: Medical - Healthcare Information Services

National Research Business Overview & Revenue Model

Company Description

National Research Corporation (NRC) empowers healthcare organizations across the United States and Canada with data-driven analytics and actionable insights to enhance both patient and employee experiences. Through a comprehensive suite of subscripti...

National Research Earnings Call Summary

Earnings Call Date:Oct 26, 2026(Q3-2026)|% Change Since:5.58%|Next Earnings Date:Feb 15, 2027

Earnings Call SentimentPositive

The call was broadly positive. NRC Health reported 11% TRCV growth, solid revenue momentum despite a revenue-recognition headwind, strong pipeline and sales-activity growth, progress on the Landmark implementation, and continued product and AI innovation. The main challenges were lower year-over-year EBITDA, a decline in average deal size, temporary uncertainty following the Qualtrics and Press Ganey transaction, and unusual tax and accounting effects. Highlights significantly outweighed the lowlights.

Positive Updates

Double-Digit TRCV Growth

Total recurring contract value reached $151.9 million, increasing 11% year over year with diversified growth across the experience, market insights, and Governance Institute portfolios. Experienced TRCV grew in the mid teens compared to the prior year, driven by strong bookings activity during the first half of the year.

Negative Updates

Revenue-Recognition Headwind

A change involving the strategic replacement of a third-party vendor for certain reputation-management solutions required net revenue accounting rather than the previous gross revenue and expense treatment. This created an approximately 2-point revenue-growth headwind in the second quarter, equivalent to approximately $1.5 million on an annual basis, with a smaller headwind expected in the third and fourth quarters.

Company Guidance

The company continues to expect margin expansion in the second half of the year; for modeling purposes, third quarter revenue is expected to increase sequentially and adjusted EBITDA margin to be approximately the same as the first half of the year, with a smaller headwind in Q3 and Q4 from the accounting change, while fourth quarter adjusted EBITDA margin is expected to see upside as revenue scales and operating expenses normalize from Q3. For both Q3 and Q4, the effective tax rate is expected to be approximately 4.0%; longer term, the effective tax rate is in the high 20s, call it 28%, 29%, and cash taxes are probably more in the lower to mid-20s. The Landmark customer began contributing revenue during Q3, the next tranche of facilities will be brought on in October, deployment is expected to be complete by the end of the year, and its rounding platform is expected to kick off in the second half of 27.

National Research Risk Analysis

National Research disclosed 24 risk factors in its most recent earnings report. National Research reported the most risks in the "Finance & Corporate" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added

0 New Risks

National Research Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

DE:NR1A against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DOCS	81Outperform	$5.81B	38.95	16.95%	―	11.18%	-28.59%
WAY	76Outperform	$5.32B	42.41	3.41%	―	21.43%	9.80%
PHR	66Neutral	$759.13M	76.54	3.01%	―	12.93%	―
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DH	47Neutral	$169.46M	-0.77	-78.52%	―	-4.99%	39.52%
HCAT	47Neutral	$108.37M	-0.43	-129.70%	―	-7.54%	-143.41%

* Healthcare Sector Average

Performance Comparison

DE:NR1A and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:NR1A	National Research	20.80	9.40	82.38%
PHR	Phreesia	13.18	-9.09	-40.82%
HCAT	Health Catalyst	1.59	-1.37	-46.28%
DOCS	Doximity, Inc.	34.67	-27.91	-44.60%
DH	Definitive Healthcare Corp. Class A	1.23	-1.42	-53.58%
WAY	Waystar Holding Corp.	29.69	-6.11	-17.07%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

National Research AI Stock Analysis