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Side-by-side financial comparison of NATIONAL RESEARCH CORP (NRC) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
NATIONAL RESEARCH CORP is the larger business by last-quarter revenue ($35.2M vs $33.9M, roughly 1.0× Spok Holdings, Inc). Spok Holdings, Inc runs the higher net margin — 8.7% vs 5.1%, a 3.5% gap on every dollar of revenue. On growth, Spok Holdings, Inc posted the faster year-over-year revenue change (-0.1% vs -4.6%). Spok Holdings, Inc produced more free cash flow last quarter ($10.1M vs $6.1M). Over the past eight quarters, NATIONAL RESEARCH CORP's revenue compounded faster (-0.2% CAGR vs -1.5%).
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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
NRC vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $33.9M |
| Net Profit | $1.8M | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | 13.3% | 11.6% |
| Net Margin | 5.1% | 8.7% |
| Revenue YoY | -4.6% | -0.1% |
| Net Profit YoY | -72.6% | -19.6% |
| EPS (diluted) | $49.58 | $0.13 |
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 | $33.9M | ||
| Q3 25 | $34.6M | $33.9M | ||
| Q2 25 | $34.0M | $35.7M | ||
| Q1 25 | $33.6M | $36.3M | ||
| Q4 24 | $36.9M | $33.9M | ||
| Q3 24 | $35.8M | $34.9M | ||
| Q2 24 | $35.0M | $34.0M | ||
| Q1 24 | $35.3M | $34.9M |
| Q4 25 | $1.8M | $2.9M | ||
| Q3 25 | $4.1M | $3.2M | ||
| Q2 25 | $-106.0K | $4.6M | ||
| Q1 25 | $5.8M | $5.2M | ||
| Q4 24 | $6.6M | $3.6M | ||
| Q3 24 | $5.7M | $3.7M | ||
| Q2 24 | $6.2M | $3.4M | ||
| Q1 24 | $6.4M | $4.2M |
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | 13.3% | 11.6% | ||
| Q3 25 | 22.4% | 12.9% | ||
| Q2 25 | 4.7% | 15.1% | ||
| Q1 25 | 25.6% | 16.6% | ||
| Q4 24 | 26.0% | 13.7% | ||
| Q3 24 | 22.3% | 14.2% | ||
| Q2 24 | 25.3% | 13.2% | ||
| Q1 24 | 24.8% | 14.0% |
| Q4 25 | 5.1% | 8.7% | ||
| Q3 25 | 11.9% | 9.5% | ||
| Q2 25 | -0.3% | 12.8% | ||
| Q1 25 | 17.2% | 14.3% | ||
| Q4 24 | 17.8% | 10.8% | ||
| Q3 24 | 15.9% | 10.5% | ||
| Q2 24 | 17.6% | 10.1% | ||
| Q1 24 | 18.0% | 12.1% |
| Q4 25 | $49.58 | $0.13 | ||
| Q3 25 | $0.18 | $0.15 | ||
| Q2 25 | $-0.01 | $0.22 | ||
| Q1 25 | $0.25 | $0.25 | ||
| Q4 24 | $0.27 | $0.17 | ||
| Q3 24 | $0.24 | $0.18 | ||
| Q2 24 | $0.26 | $0.17 | ||
| Q1 24 | $0.27 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $14.0M | $146.4M |
| Total Assets | $134.9M | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.1M | $25.3M | ||
| Q3 25 | $2.2M | $21.4M | ||
| Q2 25 | $5.3M | $20.2M | ||
| Q1 25 | $2.5M | $19.9M | ||
| Q4 24 | $4.2M | $29.1M | ||
| Q3 24 | $3.5M | $27.8M | ||
| Q2 24 | $485.0K | $23.9M | ||
| Q1 24 | $1.7M | $23.3M |
| 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 | $146.4M | ||
| Q3 25 | $14.3M | $148.7M | ||
| Q2 25 | $21.3M | $150.9M | ||
| Q1 25 | $29.7M | $151.7M | ||
| Q4 24 | $31.3M | $154.7M | ||
| Q3 24 | $34.6M | $156.3M | ||
| Q2 24 | $40.2M | $158.2M | ||
| Q1 24 | $36.9M | $160.2M |
| Q4 25 | $134.9M | $206.1M | ||
| Q3 25 | $135.7M | $209.7M | ||
| Q2 25 | $141.4M | $208.7M | ||
| Q1 25 | $135.2M | $204.5M | ||
| Q4 24 | $132.5M | $217.1M | ||
| Q3 24 | $131.8M | $216.8M | ||
| Q2 24 | $119.1M | $216.4M | ||
| Q1 24 | $120.9M | $215.0M |
| 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 | $11.5M |
| Free Cash FlowOCF − Capex | $6.1M | $10.1M |
| FCF MarginFCF / Revenue | 17.2% | 29.9% |
| Capex IntensityCapex / Revenue | 3.2% | 4.1% |
| Cash ConversionOCF / Net Profit | 3.99× | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | $15.7M | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.2M | $11.5M | ||
| Q3 25 | $13.8M | $8.1M | ||
| Q2 25 | $-1.1M | $7.0M | ||
| Q1 25 | $6.6M | $2.3M | ||
| Q4 24 | $6.4M | $8.4M | ||
| Q3 24 | $9.4M | $11.1M | ||
| Q2 24 | $6.8M | $7.4M | ||
| Q1 24 | $12.0M | $2.0M |
| Q4 25 | $6.1M | $10.1M | ||
| Q3 25 | $10.2M | $7.6M | ||
| Q2 25 | $-4.1M | $6.0M | ||
| Q1 25 | $3.7M | $1.5M | ||
| Q4 24 | $1.9M | $7.5M | ||
| Q3 24 | $7.8M | $10.3M | ||
| Q2 24 | $1.5M | $6.8M | ||
| Q1 24 | $7.9M | $1.1M |
| Q4 25 | 17.2% | 29.9% | ||
| Q3 25 | 29.4% | 22.4% | ||
| Q2 25 | -12.2% | 16.8% | ||
| Q1 25 | 10.9% | 4.2% | ||
| Q4 24 | 5.2% | 22.3% | ||
| Q3 24 | 21.8% | 29.4% | ||
| Q2 24 | 4.3% | 20.0% | ||
| Q1 24 | 22.4% | 3.2% |
| Q4 25 | 3.2% | 4.1% | ||
| Q3 25 | 10.4% | 1.6% | ||
| Q2 25 | 8.8% | 2.9% | ||
| Q1 25 | 8.9% | 2.1% | ||
| Q4 24 | 12.0% | 2.5% | ||
| Q3 24 | 4.5% | 2.4% | ||
| Q2 24 | 15.0% | 1.9% | ||
| Q1 24 | 11.7% | 2.5% |
| Q4 25 | 3.99× | 3.93× | ||
| Q3 25 | 3.34× | 2.54× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | 1.15× | 0.43× | ||
| Q4 24 | 0.97× | 2.31× | ||
| Q3 24 | 1.66× | 3.03× | ||
| Q2 24 | 1.10× | 2.17× | ||
| Q1 24 | 1.89× | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NRC
Segment breakdown not available.
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
