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Side-by-side financial comparison of NATIONAL RESEARCH CORP (NRC) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $35.2M, roughly 1.3× NATIONAL RESEARCH CORP). NATIONAL RESEARCH CORP runs the higher net margin — 5.1% vs -33.9%, a 39.0% gap on every dollar of revenue. On growth, NATIONAL RESEARCH CORP posted the faster year-over-year revenue change (-4.6% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs -0.2%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
NRC vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $47.1M |
| Net Profit | $1.8M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | 13.3% | -17.7% |
| Net Margin | 5.1% | -33.9% |
| Revenue YoY | -4.6% | -15.6% |
| Net Profit YoY | -72.6% | 68.8% |
| EPS (diluted) | $49.58 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $34.6M | $38.2M | ||
| Q2 25 | $34.0M | $38.4M | ||
| Q1 25 | $33.6M | $32.5M | ||
| Q4 24 | $36.9M | $55.8M | ||
| Q3 24 | $35.8M | $29.3M | ||
| Q2 24 | $35.0M | $34.0M | ||
| Q1 24 | $35.3M | $25.5M |
| Q4 25 | $1.8M | $-16.0M | ||
| Q3 25 | $4.1M | $-23.8M | ||
| Q2 25 | $-106.0K | $202.5M | ||
| Q1 25 | $5.8M | $-25.0M | ||
| Q4 24 | $6.6M | $-51.1M | ||
| Q3 24 | $5.7M | $-148.3M | ||
| Q2 24 | $6.2M | $-582.3M | ||
| Q1 24 | $6.4M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | 13.3% | -17.7% | ||
| Q3 25 | 22.4% | -33.6% | ||
| Q2 25 | 4.7% | -34.8% | ||
| Q1 25 | 25.6% | -65.0% | ||
| Q4 24 | 26.0% | -84.4% | ||
| Q3 24 | 22.3% | -493.2% | ||
| Q2 24 | 25.3% | -1705.5% | ||
| Q1 24 | 24.8% | -267.0% |
| Q4 25 | 5.1% | -33.9% | ||
| Q3 25 | 11.9% | -62.2% | ||
| Q2 25 | -0.3% | 527.8% | ||
| Q1 25 | 17.2% | -76.9% | ||
| Q4 24 | 17.8% | -91.6% | ||
| Q3 24 | 15.9% | -506.3% | ||
| Q2 24 | 17.6% | -1712.6% | ||
| Q1 24 | 18.0% | -283.9% |
| Q4 25 | $49.58 | $-4.40 | ||
| Q3 25 | $0.18 | $-2.84 | ||
| Q2 25 | $-0.01 | $-1.79 | ||
| Q1 25 | $0.25 | $-0.15 | ||
| Q4 24 | $0.27 | $-15.29 | ||
| Q3 24 | $0.24 | $-18.24 | ||
| Q2 24 | $0.26 | $-71.81 | ||
| Q1 24 | $0.27 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $14.0M | $-249.4M |
| Total Assets | $134.9M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.1M | $48.9M | ||
| Q3 25 | $2.2M | $43.1M | ||
| Q2 25 | $5.3M | $40.8M | ||
| Q1 25 | $2.5M | $58.6M | ||
| Q4 24 | $4.2M | $56.3M | ||
| Q3 24 | $3.5M | $75.4M | ||
| Q2 24 | $485.0K | $89.6M | ||
| Q1 24 | $1.7M | $112.8M |
| 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 | $-249.4M | ||
| Q3 25 | $14.3M | $-235.7M | ||
| Q2 25 | $21.3M | $-214.1M | ||
| Q1 25 | $29.7M | $-417.5M | ||
| Q4 24 | $31.3M | $-398.4M | ||
| Q3 24 | $34.6M | $-344.1M | ||
| Q2 24 | $40.2M | $-203.2M | ||
| Q1 24 | $36.9M | $371.6M |
| Q4 25 | $134.9M | $308.9M | ||
| Q3 25 | $135.7M | $362.6M | ||
| Q2 25 | $141.4M | $379.2M | ||
| Q1 25 | $135.2M | $405.1M | ||
| Q4 24 | $132.5M | $437.4M | ||
| Q3 24 | $131.8M | $537.8M | ||
| Q2 24 | $119.1M | $691.5M | ||
| Q1 24 | $120.9M | $1.3B |
| 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 | $8.2M |
| Free Cash FlowOCF − Capex | $6.1M | — |
| FCF MarginFCF / Revenue | 17.2% | — |
| Capex IntensityCapex / Revenue | 3.2% | — |
| Cash ConversionOCF / Net Profit | 3.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $15.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.2M | $8.2M | ||
| Q3 25 | $13.8M | $11.4M | ||
| Q2 25 | $-1.1M | $-21.3M | ||
| Q1 25 | $6.6M | $8.5M | ||
| Q4 24 | $6.4M | $-14.7M | ||
| Q3 24 | $9.4M | $-9.4M | ||
| Q2 24 | $6.8M | $-11.9M | ||
| Q1 24 | $12.0M | $-621.0K |
| 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 24 | $7.9M | — |
| 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 24 | 22.4% | — |
| 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 24 | 11.7% | — |
| Q4 25 | 3.99× | — | ||
| Q3 25 | 3.34× | — | ||
| Q2 25 | — | -0.11× | ||
| 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.
