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Side-by-side financial comparison of NATIONAL RESEARCH CORP (NRC) and Orion Properties Inc. (ONL). Click either name above to swap in a different company.
Orion Properties Inc. is the larger business by last-quarter revenue ($36.3M vs $35.2M, roughly 1.0× NATIONAL RESEARCH CORP). NATIONAL RESEARCH CORP runs the higher net margin — 5.1% vs -37.4%, a 42.5% gap on every dollar of revenue. On growth, Orion Properties Inc. posted the faster year-over-year revenue change (-4.6% vs -4.6%). Over the past eight quarters, NATIONAL RESEARCH CORP's revenue compounded faster (-0.2% CAGR vs -4.9%).
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.
NRC vs ONL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $36.3M |
| Net Profit | $1.8M | $-13.6M |
| Gross Margin | — | — |
| Operating Margin | 13.3% | -9.3% |
| Net Margin | 5.1% | -37.4% |
| Revenue YoY | -4.6% | -4.6% |
| Net Profit YoY | -72.6% | -45.0% |
| EPS (diluted) | $49.58 | $-0.24 |
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.
| Q1 26 | — | $36.3M | ||
| Q4 25 | $35.2M | $35.2M | ||
| Q3 25 | $34.6M | $37.1M | ||
| Q2 25 | $34.0M | $37.3M | ||
| Q1 25 | $33.6M | $38.0M | ||
| Q4 24 | $36.9M | $38.4M | ||
| Q3 24 | $35.8M | $39.2M | ||
| Q2 24 | $35.0M | $40.1M |
| Q1 26 | — | $-13.6M | ||
| Q4 25 | $1.8M | $-35.8M | ||
| Q3 25 | $4.1M | $-69.0M | ||
| Q2 25 | $-106.0K | $-25.1M | ||
| Q1 25 | $5.8M | $-9.4M | ||
| Q4 24 | $6.6M | $-32.8M | ||
| Q3 24 | $5.7M | $-10.2M | ||
| Q2 24 | $6.2M | $-33.8M |
| Q1 26 | — | -9.3% | ||
| Q4 25 | 13.3% | -101.5% | ||
| Q3 25 | 22.4% | -185.8% | ||
| Q2 25 | 4.7% | -67.1% | ||
| Q1 25 | 25.6% | -24.4% | ||
| Q4 24 | 26.0% | -85.4% | ||
| Q3 24 | 22.3% | -25.9% | ||
| Q2 24 | 25.3% | -84.1% |
| Q1 26 | — | -37.4% | ||
| Q4 25 | 5.1% | -101.7% | ||
| Q3 25 | 11.9% | -186.0% | ||
| Q2 25 | -0.3% | -67.3% | ||
| Q1 25 | 17.2% | -24.6% | ||
| Q4 24 | 17.8% | -85.4% | ||
| Q3 24 | 15.9% | -26.1% | ||
| Q2 24 | 17.6% | -84.2% |
| Q1 26 | — | $-0.24 | ||
| Q4 25 | $49.58 | $-0.63 | ||
| Q3 25 | $0.18 | $-1.23 | ||
| Q2 25 | $-0.01 | $-0.45 | ||
| Q1 25 | $0.25 | $-0.17 | ||
| Q4 24 | $0.27 | $-0.59 | ||
| Q3 24 | $0.24 | $-0.18 | ||
| Q2 24 | $0.26 | $-0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.1M | $10.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $14.0M | $608.5M |
| Total Assets | $134.9M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $10.3M | ||
| Q4 25 | $4.1M | $22.4M | ||
| Q3 25 | $2.2M | $32.6M | ||
| Q2 25 | $5.3M | $17.4M | ||
| Q1 25 | $2.5M | $9.4M | ||
| Q4 24 | $4.2M | $15.6M | ||
| Q3 24 | $3.5M | $16.6M | ||
| Q2 24 | $485.0K | $24.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $465.0M | ||
| Q3 25 | — | $483.0M | ||
| Q2 25 | — | $483.0M | ||
| Q1 25 | — | $505.0M | ||
| Q4 24 | — | $492.0M | ||
| Q3 24 | $48.7M | $485.0M | ||
| Q2 24 | $33.3M | $462.0M |
| Q1 26 | — | $608.5M | ||
| Q4 25 | $14.0M | $623.2M | ||
| Q3 25 | $14.3M | $658.8M | ||
| Q2 25 | $21.3M | $728.0M | ||
| Q1 25 | $29.7M | $753.5M | ||
| Q4 24 | $31.3M | $763.9M | ||
| Q3 24 | $34.6M | $800.9M | ||
| Q2 24 | $40.2M | $816.1M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $134.9M | $1.2B | ||
| Q3 25 | $135.7M | $1.2B | ||
| Q2 25 | $141.4M | $1.3B | ||
| Q1 25 | $135.2M | $1.3B | ||
| Q4 24 | $132.5M | $1.3B | ||
| Q3 24 | $131.8M | $1.4B | ||
| Q2 24 | $119.1M | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.73× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.67× | ||
| Q4 24 | — | 0.64× | ||
| Q3 24 | 1.41× | 0.61× | ||
| Q2 24 | 0.83× | 0.57× |
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 | $7.2M | — |
| Free Cash FlowOCF − Capex | $6.1M | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 3.2% | 51.4% |
| Cash ConversionOCF / Net Profit | 3.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $7.2M | $23.6M | ||
| Q3 25 | $13.8M | $5.7M | ||
| Q2 25 | $-1.1M | $11.6M | ||
| Q1 25 | $6.6M | $-2.2M | ||
| Q4 24 | $6.4M | $54.3M | ||
| Q3 24 | $9.4M | $13.8M | ||
| Q2 24 | $6.8M | $17.0M |
| Q1 26 | — | — | ||
| Q4 25 | $6.1M | — | ||
| Q3 25 | $10.2M | — | ||
| Q2 25 | $-4.1M | — | ||
| Q1 25 | $3.7M | — | ||
| Q4 24 | $1.9M | — | ||
| Q3 24 | $7.8M | — | ||
| Q2 24 | $1.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | 17.2% | — | ||
| Q3 25 | 29.4% | — | ||
| Q2 25 | -12.2% | — | ||
| Q1 25 | 10.9% | — | ||
| Q4 24 | 5.2% | — | ||
| Q3 24 | 21.8% | — | ||
| Q2 24 | 4.3% | — |
| Q1 26 | — | 51.4% | ||
| Q4 25 | 3.2% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 8.8% | — | ||
| Q1 25 | 8.9% | — | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 15.0% | — |
| Q1 26 | — | — | ||
| 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× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NRC
Segment breakdown not available.
ONL
| Rental | $36.1M | 100% |
| Fee income from unconsolidated joint venture | $137.0K | 0% |
