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Side-by-side financial comparison of NATIONAL RESEARCH CORP (NRC) and ROCKWELL MEDICAL, INC. (RMTI). Click either name above to swap in a different company.
NATIONAL RESEARCH CORP is the larger business by last-quarter revenue ($35.2M vs $18.3M, roughly 1.9× ROCKWELL MEDICAL, INC.). NATIONAL RESEARCH CORP runs the higher net margin — 5.1% vs -3.0%, a 8.1% gap on every dollar of revenue. On growth, NATIONAL RESEARCH CORP posted the faster year-over-year revenue change (-4.6% vs -25.6%). NATIONAL RESEARCH CORP produced more free cash flow last quarter ($6.1M vs $2.2M). Over the past eight quarters, NATIONAL RESEARCH CORP's revenue compounded faster (-0.2% CAGR vs -10.1%).
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.
Rockwell Medical Inc. is a publicly traded pharmaceutical company based in Wixom, Michigan and founded in 1996 that focuses on development and commercialization of treatments against diseases such as end-stage renal disease (ESRD) and chronic kidney disease (CKD).
NRC vs RMTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $18.3M |
| Net Profit | $1.8M | $-554.0K |
| Gross Margin | — | 21.1% |
| Operating Margin | 13.3% | -2.2% |
| Net Margin | 5.1% | -3.0% |
| Revenue YoY | -4.6% | -25.6% |
| Net Profit YoY | -72.6% | 26.7% |
| EPS (diluted) | $49.58 | $-0.01 |
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 | $18.3M | ||
| Q3 25 | $34.6M | $15.9M | ||
| Q2 25 | $34.0M | $16.1M | ||
| Q1 25 | $33.6M | $18.9M | ||
| Q4 24 | $36.9M | $24.7M | ||
| Q3 24 | $35.8M | $28.3M | ||
| Q2 24 | $35.0M | $25.8M | ||
| Q1 24 | $35.3M | $22.7M |
| Q4 25 | $1.8M | $-554.0K | ||
| Q3 25 | $4.1M | $-1.8M | ||
| Q2 25 | $-106.0K | $-1.5M | ||
| Q1 25 | $5.8M | $-1.5M | ||
| Q4 24 | $6.6M | $-756.0K | ||
| Q3 24 | $5.7M | $1.7M | ||
| Q2 24 | $6.2M | $343.0K | ||
| Q1 24 | $6.4M | $-1.7M |
| Q4 25 | — | 21.1% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 15.6% | ||
| Q1 25 | — | 16.1% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 22.0% | ||
| Q2 24 | — | 17.6% | ||
| Q1 24 | — | 13.5% |
| Q4 25 | 13.3% | -2.2% | ||
| Q3 25 | 22.4% | -9.9% | ||
| Q2 25 | 4.7% | -8.4% | ||
| Q1 25 | 25.6% | -7.2% | ||
| Q4 24 | 26.0% | -2.1% | ||
| Q3 24 | 22.3% | 6.8% | ||
| Q2 24 | 25.3% | 2.0% | ||
| Q1 24 | 24.8% | -5.8% |
| Q4 25 | 5.1% | -3.0% | ||
| Q3 25 | 11.9% | -11.0% | ||
| Q2 25 | -0.3% | -9.3% | ||
| Q1 25 | 17.2% | -8.0% | ||
| Q4 24 | 17.8% | -3.1% | ||
| Q3 24 | 15.9% | 5.9% | ||
| Q2 24 | 17.6% | 1.3% | ||
| Q1 24 | 18.0% | -7.6% |
| Q4 25 | $49.58 | $-0.01 | ||
| Q3 25 | $0.18 | $-0.05 | ||
| Q2 25 | $-0.01 | $-0.05 | ||
| Q1 25 | $0.25 | $-0.04 | ||
| Q4 24 | $0.27 | $-0.02 | ||
| Q3 24 | $0.24 | $0.04 | ||
| Q2 24 | $0.26 | $0.01 | ||
| Q1 24 | $0.27 | $-0.06 |
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 | $10.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $14.0M | $37.0M |
| Total Assets | $134.9M | $57.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.1M | $10.7M | ||
| Q3 25 | $2.2M | $13.6M | ||
| Q2 25 | $5.3M | $12.5M | ||
| Q1 25 | $2.5M | $11.4M | ||
| Q4 24 | $4.2M | $15.7M | ||
| Q3 24 | $3.5M | $12.3M | ||
| Q2 24 | $485.0K | $11.9M | ||
| Q1 24 | $1.7M | $6.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $48.7M | — | ||
| Q2 24 | $33.3M | — | ||
| Q1 24 | $35.2M | — |
| Q4 25 | $14.0M | $37.0M | ||
| Q3 25 | $14.3M | $37.0M | ||
| Q2 25 | $21.3M | $30.4M | ||
| Q1 25 | $29.7M | $31.5M | ||
| Q4 24 | $31.3M | $32.6M | ||
| Q3 24 | $34.6M | $29.1M | ||
| Q2 24 | $40.2M | $23.5M | ||
| Q1 24 | $36.9M | $20.6M |
| Q4 25 | $134.9M | $57.1M | ||
| Q3 25 | $135.7M | $57.5M | ||
| Q2 25 | $141.4M | $52.6M | ||
| Q1 25 | $135.2M | $54.0M | ||
| Q4 24 | $132.5M | $59.2M | ||
| Q3 24 | $131.8M | $57.1M | ||
| Q2 24 | $119.1M | $53.0M | ||
| Q1 24 | $120.9M | $50.7M |
| 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 | $7.2M | $2.3M |
| Free Cash FlowOCF − Capex | $6.1M | $2.2M |
| FCF MarginFCF / Revenue | 17.2% | 12.0% |
| Capex IntensityCapex / Revenue | 3.2% | 0.5% |
| Cash ConversionOCF / Net Profit | 3.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.7M | $-1.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.2M | $2.3M | ||
| Q3 25 | $13.8M | $-1.3M | ||
| Q2 25 | $-1.1M | $1.8M | ||
| Q1 25 | $6.6M | $-3.5M | ||
| Q4 24 | $6.4M | $865.0K | ||
| Q3 24 | $9.4M | $4.3M | ||
| Q2 24 | $6.8M | $1.4M | ||
| Q1 24 | $12.0M | $-2.4M |
| Q4 25 | $6.1M | $2.2M | ||
| Q3 25 | $10.2M | $-1.5M | ||
| Q2 25 | $-4.1M | $1.7M | ||
| Q1 25 | $3.7M | $-3.5M | ||
| Q4 24 | $1.9M | $470.0K | ||
| Q3 24 | $7.8M | $4.1M | ||
| Q2 24 | $1.5M | $1.2M | ||
| Q1 24 | $7.9M | $-2.5M |
| Q4 25 | 17.2% | 12.0% | ||
| Q3 25 | 29.4% | -9.6% | ||
| Q2 25 | -12.2% | 10.5% | ||
| Q1 25 | 10.9% | -18.8% | ||
| Q4 24 | 5.2% | 1.9% | ||
| Q3 24 | 21.8% | 14.4% | ||
| Q2 24 | 4.3% | 4.5% | ||
| Q1 24 | 22.4% | -11.1% |
| Q4 25 | 3.2% | 0.5% | ||
| Q3 25 | 10.4% | 1.4% | ||
| Q2 25 | 8.8% | 1.0% | ||
| Q1 25 | 8.9% | 0.3% | ||
| Q4 24 | 12.0% | 1.6% | ||
| Q3 24 | 4.5% | 0.7% | ||
| Q2 24 | 15.0% | 1.1% | ||
| Q1 24 | 11.7% | 0.6% |
| Q4 25 | 3.99× | — | ||
| Q3 25 | 3.34× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 1.15× | — | ||
| Q4 24 | 0.97× | — | ||
| Q3 24 | 1.66× | 2.57× | ||
| Q2 24 | 1.10× | 4.20× | ||
| Q1 24 | 1.89× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NRC
Segment breakdown not available.
RMTI
| US | $15.9M | 87% |
| Non Us | $2.4M | 13% |
