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Side-by-side financial comparison of FRANKLIN STREET PROPERTIES CORP (FSP) and NATIONAL RESEARCH CORP (NRC). Click either name above to swap in a different company.
NATIONAL RESEARCH CORP is the larger business by last-quarter revenue ($35.2M vs $26.0M, roughly 1.4× FRANKLIN STREET PROPERTIES CORP). NATIONAL RESEARCH CORP runs the higher net margin — 5.1% vs -28.1%, a 33.2% gap on every dollar of revenue. On growth, NATIONAL RESEARCH CORP posted the faster year-over-year revenue change (-4.6% vs -8.2%). NATIONAL RESEARCH CORP produced more free cash flow last quarter ($6.1M vs $-12.7M). Over the past eight quarters, NATIONAL RESEARCH CORP's revenue compounded faster (-0.2% CAGR vs -8.7%).
Franklin Street Properties Corp is a Massachusetts-based real estate investment trust (REIT) in the United States. It primarily invests in, owns, and operates high-quality office properties across major U.S. metropolitan markets, serving corporate tenants across various industry segments, and delivers stable long-term returns via rental income and strategic asset management.
National Research Corporation, doing business as NRC Health, is an American healthcare company which provides healthcare products and subscription-based solutions in United States and Canada. It was founded in 1981, and is based in Lincoln, Nebraska.
FSP vs NRC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.0M | $35.2M |
| Net Profit | $-7.3M | $1.8M |
| Gross Margin | 59.4% | — |
| Operating Margin | -27.9% | 13.3% |
| Net Margin | -28.1% | 5.1% |
| Revenue YoY | -8.2% | -4.6% |
| Net Profit YoY | 14.1% | -72.6% |
| EPS (diluted) | $-0.06 | $49.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $26.0M | $35.2M | ||
| Q3 25 | $27.3M | $34.6M | ||
| Q2 25 | $26.7M | $34.0M | ||
| Q1 25 | $27.1M | $33.6M | ||
| Q4 24 | $28.4M | $36.9M | ||
| Q3 24 | $29.7M | $35.8M | ||
| Q2 24 | $30.8M | $35.0M | ||
| Q1 24 | $31.2M | $35.3M |
| Q4 25 | $-7.3M | $1.8M | ||
| Q3 25 | $-8.3M | $4.1M | ||
| Q2 25 | $-7.9M | $-106.0K | ||
| Q1 25 | $-21.4M | $5.8M | ||
| Q4 24 | $-8.5M | $6.6M | ||
| Q3 24 | $-15.6M | $5.7M | ||
| Q2 24 | $-21.0M | $6.2M | ||
| Q1 24 | $-7.6M | $6.4M |
| Q4 25 | 59.4% | — | ||
| Q3 25 | 60.9% | — | ||
| Q2 25 | 59.9% | — | ||
| Q1 25 | 62.8% | — | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 61.0% | — | ||
| Q2 24 | 64.2% | — | ||
| Q1 24 | 64.7% | — |
| Q4 25 | -27.9% | 13.3% | ||
| Q3 25 | -30.5% | 22.4% | ||
| Q2 25 | -29.2% | 4.7% | ||
| Q1 25 | -78.9% | 25.6% | ||
| Q4 24 | -29.9% | 26.0% | ||
| Q3 24 | -52.4% | 22.3% | ||
| Q2 24 | -68.0% | 25.3% | ||
| Q1 24 | -24.0% | 24.8% |
| Q4 25 | -28.1% | 5.1% | ||
| Q3 25 | -30.5% | 11.9% | ||
| Q2 25 | -29.5% | -0.3% | ||
| Q1 25 | -79.1% | 17.2% | ||
| Q4 24 | -30.0% | 17.8% | ||
| Q3 24 | -52.6% | 15.9% | ||
| Q2 24 | -68.2% | 17.6% | ||
| Q1 24 | -24.2% | 18.0% |
| Q4 25 | $-0.06 | $49.58 | ||
| Q3 25 | $-0.08 | $0.18 | ||
| Q2 25 | $-0.08 | $-0.01 | ||
| Q1 25 | $-0.21 | $0.25 | ||
| Q4 24 | $-0.09 | $0.27 | ||
| Q3 24 | $-0.15 | $0.24 | ||
| Q2 24 | $-0.20 | $0.26 | ||
| Q1 24 | $-0.07 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $30.6M | $4.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $607.0M | $14.0M |
| Total Assets | $892.9M | $134.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.6M | $4.1M | ||
| Q3 25 | $31.4M | $2.2M | ||
| Q2 25 | $29.4M | $5.3M | ||
| Q1 25 | $30.2M | $2.5M | ||
| Q4 24 | $41.1M | $4.2M | ||
| Q3 24 | $40.9M | $3.5M | ||
| Q2 24 | $30.2M | $485.0K | ||
| Q1 24 | $34.2M | $1.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $48.7M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $35.2M |
| Q4 25 | $607.0M | $14.0M | ||
| Q3 25 | $615.3M | $14.3M | ||
| Q2 25 | $624.7M | $21.3M | ||
| Q1 25 | $633.4M | $29.7M | ||
| Q4 24 | $655.9M | $31.3M | ||
| Q3 24 | $665.4M | $34.6M | ||
| Q2 24 | $682.1M | $40.2M | ||
| Q1 24 | $703.9M | $36.9M |
| Q4 25 | $892.9M | $134.9M | ||
| Q3 25 | $901.0M | $135.7M | ||
| Q2 25 | $903.2M | $141.4M | ||
| Q1 25 | $916.4M | $135.2M | ||
| Q4 24 | $946.9M | $132.5M | ||
| Q3 24 | $981.5M | $131.8M | ||
| Q2 24 | $1.0B | $119.1M | ||
| Q1 24 | $1.0B | $120.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | 0.95× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.8M | $7.2M |
| Free Cash FlowOCF − Capex | $-12.7M | $6.1M |
| FCF MarginFCF / Revenue | -48.6% | 17.2% |
| Capex IntensityCapex / Revenue | 63.0% | 3.2% |
| Cash ConversionOCF / Net Profit | — | 3.99× |
| TTM Free Cash FlowTrailing 4 quarters | $-25.3M | $15.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8M | $7.2M | ||
| Q3 25 | $8.3M | $13.8M | ||
| Q2 25 | $-2.9M | $-1.1M | ||
| Q1 25 | $-5.5M | $6.6M | ||
| Q4 24 | $9.0M | $6.4M | ||
| Q3 24 | $14.5M | $9.4M | ||
| Q2 24 | $-648.0K | $6.8M | ||
| Q1 24 | $-7.1M | $12.0M |
| Q4 25 | $-12.7M | $6.1M | ||
| Q3 25 | $3.0M | $10.2M | ||
| Q2 25 | $-5.7M | $-4.1M | ||
| Q1 25 | $-9.9M | $3.7M | ||
| Q4 24 | $-16.2M | $1.9M | ||
| Q3 24 | $8.6M | $7.8M | ||
| Q2 24 | $-5.1M | $1.5M | ||
| Q1 24 | $-15.8M | $7.9M |
| Q4 25 | -48.6% | 17.2% | ||
| Q3 25 | 11.0% | 29.4% | ||
| Q2 25 | -21.5% | -12.2% | ||
| Q1 25 | -36.7% | 10.9% | ||
| Q4 24 | -57.2% | 5.2% | ||
| Q3 24 | 29.1% | 21.8% | ||
| Q2 24 | -16.7% | 4.3% | ||
| Q1 24 | -50.8% | 22.4% |
| Q4 25 | 63.0% | 3.2% | ||
| Q3 25 | 19.4% | 10.4% | ||
| Q2 25 | 10.7% | 8.8% | ||
| Q1 25 | 16.4% | 8.9% | ||
| Q4 24 | 88.9% | 12.0% | ||
| Q3 24 | 19.6% | 4.5% | ||
| Q2 24 | 14.6% | 15.0% | ||
| Q1 24 | 28.1% | 11.7% |
| Q4 25 | — | 3.99× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | 0.97× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 1.10× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
