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Side-by-side financial comparison of NATIONAL RESEARCH CORP (NRC) and Quipt Home Medical Corp. (QIPT). Click either name above to swap in a different company.
Quipt Home Medical Corp. is the larger business by last-quarter revenue ($49.0M vs $35.2M, roughly 1.4× NATIONAL RESEARCH CORP). NATIONAL RESEARCH CORP runs the higher net margin — 5.1% vs -2.1%, a 7.3% gap on every dollar of revenue. On growth, Quipt Home Medical Corp. posted the faster year-over-year revenue change (32.3% vs -4.6%). Quipt Home Medical Corp. produced more free cash flow last quarter ($6.9M vs $6.1M).
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.
Quipt Home Medical Corp is a U.S.-based home medical equipment provider specializing in respiratory care, sleep therapy supplies, and chronic disease management products. It serves patients with long-term health conditions, partners with healthcare providers and insurance payers across operating regions to deliver accessible in-home medical solutions.
NRC vs QIPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $49.0M |
| Net Profit | $1.8M | $-1.1M |
| Gross Margin | — | 53.5% |
| Operating Margin | 13.3% | 2.1% |
| Net Margin | 5.1% | -2.1% |
| Revenue YoY | -4.6% | 32.3% |
| Net Profit YoY | -72.6% | 2.9% |
| EPS (diluted) | $49.58 | $-0.02 |
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 | $35.2M | $49.0M | ||
| Q3 25 | $34.6M | $39.8M | ||
| Q2 25 | $34.0M | $35.1M | ||
| Q1 25 | $33.6M | $33.3M | ||
| Q4 24 | $36.9M | $37.1M | ||
| Q3 24 | $35.8M | — | ||
| Q2 24 | $35.0M | — | ||
| Q1 24 | $35.3M | — |
| Q4 25 | $1.8M | $-1.1M | ||
| Q3 25 | $4.1M | $-3.5M | ||
| Q2 25 | $-106.0K | $-3.0M | ||
| Q1 25 | $5.8M | $-3.0M | ||
| Q4 24 | $6.6M | $-1.1M | ||
| Q3 24 | $5.7M | — | ||
| Q2 24 | $6.2M | — | ||
| Q1 24 | $6.4M | — |
| Q4 25 | — | 53.5% | ||
| Q3 25 | — | 48.7% | ||
| Q2 25 | — | 57.6% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 13.3% | 2.1% | ||
| Q3 25 | 22.4% | -3.6% | ||
| Q2 25 | 4.7% | -5.2% | ||
| Q1 25 | 25.6% | -3.0% | ||
| Q4 24 | 26.0% | 1.2% | ||
| Q3 24 | 22.3% | — | ||
| Q2 24 | 25.3% | — | ||
| Q1 24 | 24.8% | — |
| Q4 25 | 5.1% | -2.1% | ||
| Q3 25 | 11.9% | -8.9% | ||
| Q2 25 | -0.3% | -8.6% | ||
| Q1 25 | 17.2% | -9.1% | ||
| Q4 24 | 17.8% | -2.9% | ||
| Q3 24 | 15.9% | — | ||
| Q2 24 | 17.6% | — | ||
| Q1 24 | 18.0% | — |
| Q4 25 | $49.58 | $-0.02 | ||
| Q3 25 | $0.18 | $-0.07 | ||
| Q2 25 | $-0.01 | $-0.07 | ||
| Q1 25 | $0.25 | $-0.07 | ||
| Q4 24 | $0.27 | $-0.03 | ||
| Q3 24 | $0.24 | — | ||
| Q2 24 | $0.26 | — | ||
| Q1 24 | $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 | $4.1M | $10.5M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $14.0M | $113.0M |
| Total Assets | $134.9M | $280.7M |
| Debt / EquityLower = less leverage | — | 0.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.1M | $10.5M | ||
| Q3 25 | $2.2M | $12.9M | ||
| Q2 25 | $5.3M | $11.3M | ||
| Q1 25 | $2.5M | $17.1M | ||
| Q4 24 | $4.2M | $15.5M | ||
| Q3 24 | $3.5M | — | ||
| Q2 24 | $485.0K | — | ||
| Q1 24 | $1.7M | — |
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $87.6M | ||
| Q2 25 | — | $66.0M | ||
| Q1 25 | — | $71.5M | ||
| Q4 24 | — | $70.6M | ||
| Q3 24 | $48.7M | — | ||
| Q2 24 | $33.3M | — | ||
| Q1 24 | $35.2M | — |
| Q4 25 | $14.0M | $113.0M | ||
| Q3 25 | $14.3M | $112.1M | ||
| Q2 25 | $21.3M | $102.5M | ||
| Q1 25 | $29.7M | $103.6M | ||
| Q4 24 | $31.3M | $106.3M | ||
| Q3 24 | $34.6M | — | ||
| Q2 24 | $40.2M | — | ||
| Q1 24 | $36.9M | — |
| Q4 25 | $134.9M | $280.7M | ||
| Q3 25 | $135.7M | $283.3M | ||
| Q2 25 | $141.4M | $236.1M | ||
| Q1 25 | $135.2M | $244.6M | ||
| Q4 24 | $132.5M | $242.8M | ||
| Q3 24 | $131.8M | — | ||
| Q2 24 | $119.1M | — | ||
| Q1 24 | $120.9M | — |
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.78× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.66× | ||
| 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 | $7.2M | $8.9M |
| Free Cash FlowOCF − Capex | $6.1M | $6.9M |
| FCF MarginFCF / Revenue | 17.2% | 14.0% |
| Capex IntensityCapex / Revenue | 3.2% | 4.2% |
| Cash ConversionOCF / Net Profit | 3.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.7M | $26.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.2M | $8.9M | ||
| Q3 25 | $13.8M | $9.8M | ||
| Q2 25 | $-1.1M | $9.7M | ||
| Q1 25 | $6.6M | $8.9M | ||
| Q4 24 | $6.4M | $9.3M | ||
| Q3 24 | $9.4M | — | ||
| Q2 24 | $6.8M | — | ||
| Q1 24 | $12.0M | — |
| Q4 25 | $6.1M | $6.9M | ||
| Q3 25 | $10.2M | $8.0M | ||
| Q2 25 | $-4.1M | $4.4M | ||
| Q1 25 | $3.7M | $7.3M | ||
| Q4 24 | $1.9M | $5.6M | ||
| Q3 24 | $7.8M | — | ||
| Q2 24 | $1.5M | — | ||
| Q1 24 | $7.9M | — |
| Q4 25 | 17.2% | 14.0% | ||
| Q3 25 | 29.4% | 20.0% | ||
| Q2 25 | -12.2% | 12.6% | ||
| Q1 25 | 10.9% | 22.0% | ||
| Q4 24 | 5.2% | 15.2% | ||
| Q3 24 | 21.8% | — | ||
| Q2 24 | 4.3% | — | ||
| Q1 24 | 22.4% | — |
| Q4 25 | 3.2% | 4.2% | ||
| Q3 25 | 10.4% | 4.6% | ||
| Q2 25 | 8.8% | 14.9% | ||
| Q1 25 | 8.9% | 4.8% | ||
| Q4 24 | 12.0% | 9.9% | ||
| Q3 24 | 4.5% | — | ||
| Q2 24 | 15.0% | — | ||
| Q1 24 | 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.
