# NRC Health (NRC) · Edgar & Edgarette company card

> NRC Health (NRC) saw revenue fall 4.0% in FY2025 to $137 million, operating margin 16.4% against a 14.9% median for commercial physical & biological research, equity 10.4% of assets, and dividend per share up 1 year running. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 70487 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/NRC) · [JSON](https://www.pops4.com/boards/company/NRC.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $137M |
| Revenue growth, 1 year | -4.0% |
| Revenue growth per year | -1.8% |
| Operating margin | 16.4% (prior year 24.6%) |
| Net margin | 8.4% |
| Operating cash flow | $26M |
| Capital spending | $11M |
| Free cash flow | $16M |
| Cash | $4M |
| Long-term debt | $75M |
| Total assets | $135M |
| Total equity | $14M |
| Equity ÷ assets | 10.4% |
| Return on equity | 82.9% |
| Dividend per share | $0.52 |
| Dividend years rising | 1 |

## Readings, computed from those figures

- Altman Z: 0.03 (distress zone)
- Piotroski F: 5 of 9 (middling)
- Health Harbor boat: New ship · no warning signs
- Cash Compass: Cash cow now · steady, with strong cash arriving today

## Edgarette's reading

Exposure: revenue $137.4M (FY2025), total debt $75.0M. Experience: revenue down 4.0% on the year, down 1.8% a year over 4 years; operating margin 16.4%, down from 24.6%. Soundness: equity 10.4% of assets, return on equity 82.9%, payout 94.6% of profit, dividend per share up 1 year running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $114.7M and $146.8M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $107.7M to $156.7M. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, its industry group): operating margin 16.4% against a 14.9% median; growth -4.0% against 5.2%.

Range logged 2026-10-20, receipt 3e98f79c1624efb9, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 4, latest 2026-10-19 ([filing](https://www.sec.gov/Archives/edgar/data/70487/000143774926032899/0001437749-26-032899-index.htm))

## Recent filings

- 10-Q · filed 2026-11-04 · [filing](https://www.sec.gov/Archives/edgar/data/70487/000143774926034887/0001437749-26-034887-index.htm)
- 8-K · filed 2026-10-27 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/70487/000143774926033639/0001437749-26-033639-index.htm)
- 8-K · filed 2026-10-19 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/70487/000143774926032899/0001437749-26-032899-index.htm)
- 8-K · filed 2026-08-11 · 5.02 Departure or Election of Directors; Appointment of Officers · [filing](https://www.sec.gov/Archives/edgar/data/70487/000143774926027031/0001437749-26-027031-index.htm)
- 10-Q · filed 2026-08-04 · [filing](https://www.sec.gov/Archives/edgar/data/70487/000143774926025624/0001437749-26-025624-index.htm)
- 8-K · filed 2026-07-28 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/70487/000143774926024663/0001437749-26-024663-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0000070487.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=70487

## Cite

POPS4, Edgar & Edgarette: NRC Health (NRC) company card, from the company's own SEC filings, accessed 2026-11-05, https://www.pops4.com/boards/company/NRC. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.