National Research Corporation (NRC) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 7.18M | 7.18M | 13.76M | -1.14M | 6.65M | 6.38M | 9.42M | 6.79M | 12.04M | 11.71M | 9.82M | 8.84M | 7.75M | 8.1M | 10.05M | 9.82M | 8.29M | 12.07M | 8.7M | 11.16M |
| Operating CF Margin % | 20.63% | 20.4% | 39.77% | -3.35% | 19.81% | 17.28% | 26.3% | 19.38% | 34.09% | 30.81% | 25.87% | 24.43% | 21.26% | 21.25% | 26.66% | 26.34% | 21.57% | 31.53% | 23.05% | 30.63% |
| Operating CF Growth % | 8.03% | 12.54% | 46.08% | -116.78% | -44.79% | -45.52% | -4.02% | -23.18% | 55.26% | 44.47% | -2.32% | -10.04% | -6.48% | -32.88% | 15.46% | -11.98% | -42.46% | -25.55% | -17.23% | 33.15% |
| Net Income | 3.22M | 1.8M | 4.12M | -106K | 5.79M | 6.56M | 5.69M | 6.17M | 6.36M | 8.86M | 7.87M | 7.27M | 6.96M | 6.64M | 8.3M | 8.32M | 8.54M | 9.63M | 9.65M | 8.94M |
| Depreciation & Amortization | 2.17M | 2.15M | 2.19M | 1.74M | 1.54M | 1.52M | 1.55M | 1.51M | 1.45M | 1.43M | 1.55M | 1.52M | 1.39M | 1.38M | 1.3M | 1.29M | 1.32M | 1.36M | 1.4M | 1.63M |
| Stock-Based Compensation | 1.61M | 1.91M | 925K | 307K | 171K | 188K | 189K | -57K | -36K | 258K | 68K | 305K | 304K | 290K | 291K | 334K | 285K | 0 | 0 | 203K |
| Deferred Taxes | -36K | 2.53M | -49K | -1.82M | 1.94M | -499K | 90K | 116K | -113K | -246K | 50K | -268K | -253K | 36K | -486K | -676K | -498K | -57K | -206K | 89K |
| Other Non-Cash Items | -29K | 170K | 31K | 83K | 113K | 77K | 34K | 9K | 9K | 0 | 0 | 0 | 0 | 2.73M | 132K | 0 | 100K | 359K | 130K | 1K |
| Working Capital Changes | 246K | -1.38M | 6.54M | -1.35M | -2.9M | -1.46M | 1.87M | -969K | 4.37M | 1.41M | 268K | 5K | -656K | -2.97M | 519K | 551K | -1.45M | 786K | -2.27M | 287K |
| Change in Receivables | 275K | 1.64M | -332K | -1.09M | -272K | 5K | -569K | 1.07M | 1.25M | 2.09M | -2.58M | 2.33M | 242K | 922K | -2.27M | 2.78M | -2.16M | 2.53M | -2.15M | 169K |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 942K | 104K | -91K | -470K | 627K | -707K | 566K | 184K | -151K | -46K | -283K | 342K | 171K | -32K | -696K | 624K | -485K | 211K | 510K | -453K |
| Cash from Investing | -1.83M | -1.12M | -3.59M | -3.01M | -2.99M | -4.44M | -6.43M | -5.27M | -4.14M | -3.77M | -4.47M | -4.34M | -3.2M | -1.97M | -3.98M | -1.34M | -2.54M | -1.72M | -992K | -1.57M |
| Capital Expenditures | -1.83M | -1.12M | -3.59M | -3.01M | -2.99M | -4.44M | -1.6M | -5.27M | -4.14M | -3.77M | -4.47M | -4.34M | -3.2M | -1.97M | -3.98M | -1.34M | -2.54M | -1.72M | -992K | -1.57M |
| CapEx % of Revenue | 5.27% | 3.19% | 10.37% | 8.84% | 8.9% | 12.04% | 4.46% | 15.05% | 11.72% | 9.92% | 11.78% | 12% | 8.77% | 5.15% | 10.57% | 3.6% | 6.61% | 4.48% | 2.63% | 4.3% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | -4.83M | 0 | 0 | 0 | 0 | 1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -6.94M | -4.14M | -13.23M | 6.92M | -5.39M | -1.16M | -17K | -2.73M | -12.85M | -5.11M | -24.02M | -5.72M | -5.86M | -9.55M | -10.47M | -22.71M | -12.86M | -8.48M | -4.06M | -4.19M |
| Debt Issued (Net) | -1.03M | -1.04M | -949K | 15.72M | 2.51M | 9.05M | 11.43M | 140K | 5.37M | 12.83M | 3.81M | -1.24M | -1.23M | -1.21M | -1.19M | -1.18M | -1.19M | -1.04M | -1.03M | -1.14M |
| Equity Issued (Net) | -1.94M | -1K | -9.27M | -5.99M | -4.92M | -7.4M | -8.55M | 0 | -15M | -15M | -309K | -1.82M | -1.97M | -2.32M | -3.15M | -15.47M | -6.68M | -4M | 142K | 0 |
| Dividends Paid | -3.63M | -2.7M | -2.78M | -2.73M | -2.77M | -2.82M | -2.86M | -2.87M | -2.91M | -2.95M | -27.51M | -2.95M | -2.96M | -5.93M | -5.94M | -6.05M | -3.04M | -3.05M | -3.05M | -3.05M |
| Share Repurchases | -1.94M | -1K | -9.27M | -5.99M | -4.92M | -7.4M | -8.55M | 0 | -15M | -15M | -309K | -1.82M | -1.97M | -2.32M | -3.15M | -15.47M | -6.68M | -4.14M | 0 | 0 |
| Other Financing | -345K | -400K | -231K | -73K | -210K | 0 | -37K | 0 | -317K | 0 | -8K | 283K | 301K | -92K | -190K | 0 | -1.95M | -384K | -124K | 0 |
| Net Change in Cash | -1.59M | 1.92M | -3.06M | 2.77M | -1.73M | 772K | 2.98M | -1.21M | -4.95M | 2.83M | -18.67M | -1.23M | -1.3M | -3.37M | -4.58M | -14.32M | -7.07M | 1.88M | 3.58M | 5.45M |
| Free Cash Flow | 5.35M | 6.06M | 10.18M | -4.15M | 3.66M | 1.94M | 7.83M | 1.52M | 7.9M | 7.94M | 5.35M | 4.5M | 4.55M | 6.14M | 6.07M | 8.48M | 5.75M | 10.36M | 7.71M | 9.59M |
| FCF Margin % | 15.36% | 17.21% | 29.4% | -12.19% | 10.91% | 5.24% | 21.85% | 4.33% | 22.37% | 20.89% | 14.09% | 12.43% | 12.49% | 16.09% | 16.1% | 22.73% | 14.95% | 27.04% | 20.42% | 26.33% |
| FCF Growth % | 46.07% | 213.07% | 30.02% | -373.5% | -53.66% | -75.62% | 46.36% | -66.25% | 73.45% | 29.33% | -11.87% | -46.97% | -20.77% | -40.74% | -21.33% | -11.62% | -56.36% | -29.39% | -18.89% | 27.15% |
| FCF per Share | 0.24 | 0.28 | 0.45 | -0.18 | 0.16 | 0.08 | 0.33 | 0.06 | 0.33 | 0.32 | 0.22 | 0.18 | 0.18 | 0.25 | 0.24 | 0.34 | 0.23 | 0.40 | 0.30 | 0.37 |
| FCF Conversion (FCF/Net Income) | 2.23x | 3.99x | 3.34x | 10.75x | 1.15x | 0.97x | 1.66x | 1.10x | 1.89x | 1.32x | 1.25x | 1.21x | 1.11x | 1.22x | 1.21x | 1.18x | 0.97x | 1.25x | 0.90x | 1.25x |
| Interest Paid | 0 | 0 | 1.38M | 966K | 774K | 741K | 609K | 569K | 521K | 203K | -47K | 318K | 329K | 314K | 244K | 345K | 352K | 0 | 0 | 398K |
| Taxes Paid | 0 | 0 | 373K | 3.08M | 80K | -6.27M | 1.95M | 4.25M | 78K | 2.45M | 2.27M | 4.19M | 27K | 3.29M | 3.16M | 5.71M | 75K | 0 | 0 | 3.39M |