NRC (NRC) financial statements
NRC reported revenue of $137M in fiscal 2025, up 2.6% a year over 9 years.
Net income was $12M and the operating margin 16.4%, against 28.5% in 2016.
Free cash flow was $16M, and the company returned $11M in dividends and $20M in net buybacks.
The diluted share count fell 13% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from NRC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $109M | $118M | $120M | $128M | $133M | $148M | $152M | $149M | $143M | $137M |
| Selling, general and admin | $28M | $30M | $31M | $33M | $34M | $39M | $43M | $47M | $45M | $55M |
| Operating income | $31M | $34M | $35M | $43M | $43M | $50M | $47M | $40M | $35M | $23M |
| Interest expense | $190,000 | $82,000 | $2M | $2M | $2M | $2M | $1M | $862,000 | $3M | $5M |
| Pre-tax income | $31M | $34M | $35M | $41M | $41M | $49M | $43M | $40M | $33M | $18M |
| Income tax | $11M | $11M | $5M | $8M | $4M | $11M | $11M | $9M | $8M | $6M |
| Net income | $21M | $23M | $30M | $32M | $37M | $37M | $32M | $31M | $25M | $12M |
| EPS (diluted) | — | — | — | $1.26 | $1.45 | $1.46 | $1.27 | $1.25 | $1.04 | $50.00 |
| Diluted shares | — | — | — | 26M | 26M | 26M | 25M | 25M | 24M | 22M |
| Operating margin | 28.5% | 29.1% | 29.5% | 33.6% | 32.0% | 34.0% | 30.7% | 27.0% | 24.6% | 16.4% |
| Net margin | 18.8% | 19.5% | 25.1% | 25.3% | 28.0% | 25.3% | 21.0% | 20.8% | 17.3% | 8.4% |
Balance sheet
Fiscal years, from NRC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $33M | $35M | $13M | $14M | $35M | $54M | $25M | $7M | $4M | $4M |
| Receivables | $11M | $15M | $12M | $12M | $14M | $14M | $14M | $12M | $11M | $11M |
| Total current assets | $47M | $52M | $28M | $29M | $54M | $74M | $44M | $24M | $20M | $20M |
| Property, plant and equipment | $12M | $12M | $14M | $14M | $12M | $12M | $17M | $28M | $38M | $40M |
| Goodwill | $58M | $58M | $58M | $58M | $57M | $62M | $62M | $62M | $66M | $66M |
| Total assets | $121M | $127M | $108M | $111M | $133M | $158M | $130M | $122M | $133M | $135M |
| Total current liabilities | $32M | $32M | $47M | $38M | $32M | $40M | $33M | $36M | $36M | $37M |
| Long-term debt | $857,000 | — | $34M | $30M | $27M | — | — | $29M | $58M | $75M |
| Total liabilities | $38M | $37M | $89M | $78M | $69M | $72M | $58M | $73M | $101M | $121M |
| Shareholders' equity | $83M | $90M | $19M | $33M | $64M | $85M | $72M | $49M | $31M | $14M |
| Net debt | -$29M | -$34M | $21M | $16M | -$8M | -$54M | -$25M | $23M | $54M | $75M |
Cash flow
Fiscal years, from NRC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $27M | $28M | $40M | $41M | $41M | $46M | $36M | $38M | $35M | $26M |
| Capital spending | $4M | $5M | $6M | $5M | $4M | $6M | $10M | $16M | $15M | $11M |
| Free cash flow | $23M | $24M | $34M | $36M | $37M | $41M | $26M | $22M | $19M | $16M |
| Stock-based compensation | $2M | $2M | $2M | $1M | $680,000 | $623,000 | $1M | $935,000 | $284,000 | $3M |
| Dividends paid | $29M | $17M | $17M | $31M | $11M | $9M | $21M | $36M | $11M | $11M |
| Share buybacks (net) | — | — | — | — | — | -$4M | -$28M | -$19M | -$31M | -$20M |
| Free cash flow margin | 20.9% | 20.0% | 28.3% | 28.3% | 27.5% | 27.6% | 17.4% | 15.0% | 13.4% | 11.5% |
| Dividends per share | — | — | — | $1.22 | $0.41 | $0.36 | $0.84 | $1.47 | $0.48 | $0.49 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for NRC.
Open NRC in InvestinglyQuestions
What was NRC's revenue in 2025?
$137M in fiscal 2025, from its 10-K filing.
How much free cash flow does NRC generate?
$16M in fiscal 2025 (operating cash flow minus capital spending).
From NRC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.