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National Research Corporation (NRC)
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National Research Corporation NRC
$ 26.91
1.09%
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National Research Corporation Balance Sheet 2025-2008 | NRC
Brief overview of National Research Corporation's financial position
The comparison uses five available annual reports from the 2021–2025 interval.
The asset base decreased -14.4%, from $157.5 million to $134.9 million. Resources became smaller over the five periods.
Funding shifted toward liabilities: they gained +67.4%, compared with -14.4% for assets.
Internal capital represents 10.4% of the balance sheet versus 54.2% five periods ago. The cushion is thin.
Net debt to equity is high at 5.1x; refinancing risk and borrowing costs become more important.
The cash reserve occupies 3.1% of the balance sheet, previously 34.5%. It is one marker of short-term resilience.
Retained earnings are negative at -$17.3 million. This reduces the formal capital cushion, although large shareholder returns may have contributed.
Balance sheet takeaway
Taken together, National Research Corporation's balance sheet indicators point to elevated risk. Asset growth does not offset weak funding sources.
Annual Balance Sheet National Research Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
71.3 M | 54.2 M | 23.4 M | -2.71 M | -27.7 M | -8.14 M | 20.7 M | 24.9 M | -33.6 M | -29.5 M | -36.4 M | -32 M | -11.8 M | 4.48 M | 6.4 M | - | - | - |
Long Term Debt |
75 M | 57.9 M | 29.5 M | 22.3 M | 26.6 M | 26.5 M | 29.8 M | 34.2 M | - | 857 K | 3.34 M | 5.74 M | 8.07 M | - | 12.6 M | - | - | - |
Long Term Debt Current |
451 K | 550 K | 581 K | - | - | - | - | - | - | 2.68 M | 2.4 M | 2.33 M | 2.26 M | 12.4 M | - | - | - | - |
Total Non Current Liabilities |
84.3 M | 65.4 M | 37.3 M | 25 M | 31.8 M | 37.4 M | 39.6 M | 41.8 M | 4.96 M | 6.3 M | 10.7 M | 13.8 M | 15.6 M | 8.01 M | 20.7 M | 21 M | - | - |
Total Current Liabilities |
36.6 M | 35.9 M | 36.2 M | 33.4 M | 40.4 M | 31.7 M | 38.2 M | 47.1 M | 32.3 M | 31.5 M | 44.2 M | 27.9 M | 23.7 M | 35.3 M | 24.4 M | 26.2 M | - | - |
Total Liabilities |
121 M | 101 M | 73.5 M | 58.4 M | 72.2 M | 69.1 M | 77.8 M | 88.9 M | 37.3 M | 37.8 M | 54.9 M | 41.8 M | 39.2 M | 43.3 M | 45.1 M | 47.2 M | - | - |
Deferred Revenue |
16.2 M | 15.8 M | 14.8 M | 15.2 M | 17.2 M | 15.6 M | 16.4 M | 16.2 M | 16.9 M | 15.5 M | 14.8 M | 15.1 M | 13.9 M | 15.8 M | 16.5 M | 17.7 M | - | - |
Retained Earnings |
-17.3 M | -17.1 M | -30.5 M | -25.2 M | -36.1 M | -61.4 M | -93.4 M | -106 M | 77.6 M | 71.5 M | 65.3 M | 73.7 M | 58 M | 44.7 M | 47 M | 41.3 M | - | - |
Total Assets |
135 M | 133 M | 122 M | 130 M | 158 M | 133 M | 111 M | 108 M | 127 M | 121 M | 129 M | 130 M | 111 M | 100 M | 101 M | 95.8 M | - | - |
Cash and Cash Equivalents |
4.14 M | 4.23 M | 6.65 M | 25 M | 54.4 M | 34.7 M | 13.5 M | 13 M | 34.7 M | 33 M | 42.1 M | 40 M | 22.1 M | 8.29 M | 8.08 M | 3.52 M | 2.51 M | 1.11 M |
Book Value |
14 M | 31.3 M | 49 M | 72 M | 85.3 M | 64.3 M | 32.9 M | 19.1 M | 90 M | 82.8 M | 74.2 M | 87.7 M | 71.8 M | 56.7 M | 55.6 M | 48.6 M | - | - |
Total Shareholders Equity |
14 M | 31.3 M | 49 M | 72 M | 85.3 M | 64.3 M | 32.9 M | 19.1 M | 90 M | 82.8 M | 74.2 M | 87.7 M | 71.8 M | 56.7 M | 55.6 M | 48.6 M | 44.2 M | 38.6 M |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet National Research Corporation
| 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
98.1 M | 86 M | 74 M | 744 K | 76 M | 77 M | 58.7 M | 1.16 M | 48.7 M | 33.3 M | - | 1.65 M | 18.9 M | 20.1 M | 21.2 M | 22.3 M | 23.4 M | - | 25.6 M | 348 K | 27.7 M | 28.7 M | 29.7 M | 778 K | 31.7 M | 32.7 M | 502 K | 559 K | 1.25 M | 1.36 M | 1.49 M | 676 K | 38.9 M | 39.8 M | 34.2 M | 1.07 M | 1.69 M | 2.11 M | 2.72 M | 3.54 M | 3.94 M | 4.55 M | 5.15 M | 5.74 M | 6.33 M | 6.91 M | 7.49 M | 8.07 M | 8.64 M | 9.2 M | 9.76 M | 10.3 M | 10.9 M | 11.6 M | 12.1 M | 12.4 M | 13.1 M | 13.6 M | 12.4 M | 14.5 M | 14.5 M | 14.5 M | - |
Total Non Current Liabilities |
106 M | 94.6 M | 82.6 M | 84.3 M | 82.8 M | 84.1 M | 67.7 M | 65.4 M | 52.9 M | 33.2 M | - | 37.3 M | 21.5 M | 22.1 M | 23.5 M | 25 M | 26.1 M | - | 30.1 M | 31.8 M | 33.9 M | 35.5 M | 36.7 M | 37.4 M | 38.4 M | 38.9 M | 38.7 M | 39.6 M | 40.4 M | 41.2 M | 42.6 M | 41.8 M | 43.1 M | 43.2 M | 6.13 M | 4.96 M | 5.73 M | 5.9 M | 6.14 M | 6.3 M | 6.94 M | 7.57 M | 9.68 M | 9.66 M | 11.3 M | 12.1 M | 13 M | 13.8 M | 13.8 M | 14.5 M | 15 M | 15.6 M | 16.2 M | 16.9 M | 7.81 M | 8.01 M | 7.67 M | 19.3 M | 20.6 M | 20.7 M | 20.8 M | 20.6 M | - |
Total Liabilities |
148 M | 130 M | 121 M | 121 M | 121 M | 120 M | 106 M | 101 M | 97.2 M | 78.9 M | - | 73.5 M | 62.3 M | 55.9 M | 59.6 M | 58.4 M | 67.2 M | - | 71.7 M | 72.2 M | 73.1 M | 75.5 M | 73.6 M | 69.1 M | 70.5 M | 71.2 M | 78.6 M | 77.8 M | 78.7 M | 78.3 M | 81.8 M | 88.9 M | 78.6 M | 76.1 M | 35.6 M | 37.3 M | 39.9 M | 36.7 M | 40.5 M | 37.8 M | 38.1 M | 36.8 M | 42.2 M | 53.8 M | 42.9 M | 41.4 M | 40.6 M | 41.8 M | 40.8 M | 39.8 M | 39 M | 39.3 M | 42.4 M | 41.7 M | 43.6 M | 43.3 M | 45.4 M | 44.5 M | 45 M | 45.1 M | 47.4 M | 47.8 M | 45.1 M |
Deferred Revenue |
20.3 M | 16.7 M | 17.2 M | 16.2 M | 17.8 M | 15.6 M | 15.5 M | 15.8 M | 17.3 M | 14.5 M | - | 14.8 M | 16.2 M | 14.8 M | 15.9 M | 15.2 M | 17.4 M | - | 16.7 M | 17.2 M | 17.3 M | 16.8 M | 17.6 M | 15.6 M | 17.3 M | 16.3 M | 19.1 M | 16.4 M | 19.1 M | 17 M | 18.2 M | 16.2 M | 18.6 M | 16.7 M | 17 M | 16.9 M | 18.5 M | 16.7 M | 17.2 M | 15.5 M | 17.4 M | 16.1 M | 17.9 M | 14.8 M | 17.5 M | 17 M | 15.5 M | 15.1 M | 17 M | 16.1 M | 14.7 M | 13.9 M | 16.5 M | 15.8 M | 15.5 M | 15.8 M | 17.5 M | 17.4 M | 16.4 M | 16.5 M | 18.4 M | 18 M | 16.5 M |
Retained Earnings |
-23.2 M | -24.5 M | -17.7 M | -17.3 M | -15.5 M | -16.9 M | -14 M | -17.1 M | -20.9 M | -23.7 M | - | -30.5 M | -36.5 M | -16.8 M | -21.2 M | -25.2 M | -28.9 M | - | -33.6 M | -36.1 M | -42.7 M | -49.3 M | -52.1 M | -61.4 M | -69.6 M | -79.2 M | -86.9 M | -93.4 M | -96.8 M | -100 M | -103 M | -106 M | -97 M | -99.8 M | 83.4 M | 77.6 M | 75.3 M | 75.3 M | 73.8 M | 71.5 M | 70 M | 68.6 M | 67.1 M | 65.3 M | 77.8 M | 76.2 M | 74.6 M | 73.7 M | 72.1 M | 67.5 M | 63.5 M | 58 M | 54.3 M | 58 M | 47 M | 44.7 M | 53.1 M | 51.3 M | 49.1 M | 47 M | 45.3 M | 44.2 M | 47 M |
Total Assets |
139 M | 136 M | 135 M | 135 M | 136 M | 141 M | 135 M | 133 M | 132 M | 119 M | - | 122 M | 120 M | 134 M | 134 M | 130 M | 135 M | - | 153 M | 158 M | 156 M | 152 M | 147 M | 133 M | 127 M | 117 M | 116 M | 111 M | 108 M | 104 M | 105 M | 108 M | 109 M | 103 M | 131 M | 127 M | 129 M | 125 M | 126 M | 121 M | 119 M | 116 M | 118 M | 128 M | 129 M | 131 M | 128 M | 130 M | 127 M | 122 M | 116 M | 111 M | 110 M | 105 M | 104 M | 100 M | 109 M | 106 M | 103 M | 101 M | 101 M | 100 M | 101 M |
Cash and Cash Equivalents |
3.63 M | 3.33 M | 2.55 M | 4.14 M | 2.22 M | 5.27 M | 2.5 M | 4.23 M | 3.46 M | 485 K | - | 6.65 M | 3.83 M | 22.5 M | 23.7 M | 25 M | 28.4 M | - | 47.3 M | 54.4 M | 52.5 M | 48.9 M | 43.5 M | 34.7 M | 21.9 M | 12 M | 10 M | 13.5 M | 8.36 M | 4.02 M | 2.64 M | 13 M | 7.27 M | 6.7 M | 35.5 M | 34.7 M | 35.8 M | 31.6 M | 34.7 M | 33 M | 28.9 M | 27.2 M | 25.4 M | 42.1 M | 37.6 M | 40.6 M | 37 M | 40 M | 39.1 M | 31.5 M | 26.5 M | 22.1 M | 18.9 M | 10.8 M | 9.23 M | 8.29 M | 15 M | 11.2 M | 7.87 M | 8.08 M | 6.22 M | 4.46 M | 8.08 M |
Book Value |
-9.12 M | 6.55 M | 13.5 M | 14 M | 14.3 M | 21.3 M | 29.7 M | 31.3 M | 34.6 M | 40.2 M | - | 49 M | 57.9 M | 77.8 M | 74.7 M | 72 M | 67.8 M | - | 81.5 M | 85.3 M | 83.1 M | 76.4 M | 73.2 M | 64.3 M | 56.7 M | 45.6 M | 37.3 M | 32.9 M | 29 M | 26 M | 22.7 M | 19.1 M | 30.1 M | 26.8 M | 95.4 M | 90 M | 88.8 M | 87.8 M | 85.6 M | 82.8 M | 81.2 M | 79.7 M | 76.2 M | 74.2 M | 86.6 M | 89.7 M | 87.8 M | 87.7 M | 86.3 M | 82.1 M | 77.3 M | 71.8 M | 67.5 M | 63.2 M | 59.9 M | 56.7 M | 64.1 M | 61.1 M | 58.4 M | 55.6 M | 53.5 M | 52.5 M | 55.6 M |
Total Shareholders Equity |
-9.12 M | 6.55 M | 13.5 M | 14 M | 14.3 M | 21.3 M | 29.7 M | 31.3 M | 34.6 M | 40.2 M | 36.9 M | 49 M | 57.9 M | 77.8 M | 74.7 M | 72 M | 67.8 M | 68.6 M | 81.5 M | 85.3 M | 83.1 M | 76.4 M | 73.2 M | 64.3 M | 56.7 M | 45.6 M | 37.3 M | 32.9 M | 29 M | 26 M | 22.7 M | 19.1 M | 30.1 M | 26.8 M | 95.4 M | 90 M | 88.8 M | 87.8 M | 85.6 M | 82.8 M | 81.2 M | 79.7 M | 76.2 M | 74.2 M | 86.6 M | 89.7 M | 87.8 M | 87.7 M | 86.3 M | 82.1 M | 77.3 M | 71.8 M | 67.5 M | 63.2 M | 59.9 M | 56.7 M | 64.1 M | 61.1 M | 58.4 M | 55.6 M | 53.5 M | 52.5 M | 55.6 M |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of National Research Corporation, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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