NMR Stock Analysis: Nomura Holdings | NYSE
Capital Markets | NYSE, USA | Market Cap: 28.700m USD | 12M Return: 35.1% | US65535H2085 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.27M
EPS Trend: -0.1%
Qual. Beats: 0
Rev. Trend: 83.0%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Nomura Holdings, Inc. (NYSE: NMR) is a Japan-based financial services group that provides investment, financing, and related services to individual, institutional, and government clients globally. Founded in 1925 and headquartered in Tokyo, the company operates through three core segments: Wealth Management, which offers asset management services; Investment Management, which provides investment solutions including investment trusts, discretionary investment services, and fund management; and Wholesale, which encompasses sales and trading of debt and equity securities, foreign exchange, and investment banking activities such as underwriting, M&A advisory, and financial advisory services. As one of Japans largest independent brokerage and investment banking groups, Nomuras three-pillar structure reflects a diversified business model spanning retail wealth, asset management, and global capital markets-a structure broadly comparable to large U.S. peers like Goldman Sachs or Morgan Stanley, though Nomura maintains a particularly strong presence across Asian markets and a notable footprint in fixed income trading worldwide.
- Wholesale trading revenue rises with market volatility and deal activity
- BOJ rate hikes lift Wealth Management net interest income
- Investment Management fees pressured by persistent AUM outflows
| Net Income: 403b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -0.26 > 1.0 |
| NWC/Revenue: -41.03% < 20% (prev 300.8%; Δ -341.8% < -1%) |
| CFO/TA -0.01 > 3% & CFO -843b > Net Income 403b |
| Net Debt (339b) to EBITDA (1367b): 0.25 < 3 |
| Current Ratio: 0.95 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.01b) vs 12m ago -1.97% < -2% |
| Gross Margin: 46.55% > 18% (prev 38.90%; Δ 7.65% > 0.5%) |
| Asset Turnover: 7.83% > 50% (prev 7.65%; Δ 0.18% > 0%) |
| Interest Coverage Ratio: 0.47 > 6 (EBIT TTM 1242b / Interest Expense TTM 2642b) |
| A: -0.03 (Total Current Assets 40755b - Total Current Liabilities 42784b) / Total Assets 68224b |
| B: 0.03 (Retained Earnings 2152b / Total Assets 68224b) |
| C: 0.02 (EBIT TTM 1242b / Avg Total Assets 63163b) |
| D: 0.06 (Book Value of Equity 3834b / Total Liabilities 64230b) |
| Altman-Z'' = 0.10 = B |
| DSRI: 1.09 (Receivables 5758b/4727b, Revenue 4944b/4442b) |
| GMI: 0.84 (GM 38.90% / 46.55%) |
| AQI: 2.36 (AQ_t 0.39 / AQ_t-1 0.17) |
| SGI: 1.11 (Revenue 4944b / 4442b) |
| TATA: 0.02 (NI 403b - CFO -843b) / TA 68224b) |
| Beneish M = -2.21 (Cap -4..+1) = BB |
As of August 19, 2026, the stock is trading at USD 9.65 with a total of 455,355 shares traded. Over the past week, the price has changed by -1.33%, over one month by +2.77%, over three months by +20.47% and over the past year by +35.05%.
Current recommended Stop Loss: 9.20 (which is 4.7% or 2.3 ATR below the current price).
Nomura Holdings has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold NMR.
- StrongBuy: 0
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 10.3 | 6.8% |
Market Cap JPY = 4576b (28.7b USD * 159.44 USD.JPY)
P/E Trailing = 11.6905
P/E Forward = 15.3846
P/S = 0.0123
P/B = 1.1927
P/EG = 0.8146
Revenue TTM = 4944b JPY
EBIT TTM = 1242b JPY
EBITDA TTM = 1367b JPY
Long Term Debt = 17138b JPY (from longTermDebt, last quarter)
Short Term Debt = 18042b JPY (from shortTermDebt, last quarter)
Debt = 35336b JPY (from shortLongTermDebtTotal, last quarter) + Leases 156b
Net Debt = 339b JPY (calculated: Debt 35336b - CCE 34997b)
Enterprise Value = 4915b JPY (4576b + Debt 35336b - CCE 34997b)
Interest Coverage Ratio = 0.47 (Ebit TTM 1242b / Interest Expense TTM 2642b)
EV/FCF = -4.11x (Enterprise Value 4915b / FCF TTM -1197b)
FCF Yield = -24.35% (FCF TTM -1197b / Enterprise Value 4915b)
FCF Margin = -24.21% (FCF TTM -1197b / Revenue TTM 4944b)
Net Margin = 8.15% (Net Income TTM 403b / Revenue TTM 4944b)
Gross Margin = 46.55% ((Revenue TTM 4944b - Cost of Revenue TTM 2642b) / Revenue TTM)
Gross Margin QoQ = 47.20% (prev 53.22%)
Tobins Q-Ratio = 0.07 (Enterprise Value 4915b / Total Assets 68224b)
Interest Expense / Debt = 7.48% (Interest Expense 2642b / Debt 35336b)
Taxrate = 28.55% (169b / 591b)
NOPAT = 887b (EBIT 1242b * (1 - 28.55%))
Current Ratio = 0.95 (Total Current Assets 40755b / Total Current Liabilities 42784b)
Debt / Equity = 9.22 (Debt 35336b / totalStockholderEquity, last quarter 3834b)
Debt / EBITDA = 0.25 (Net Debt 339b / EBITDA 1367b)
Debt / FCF = -0.28 (negative FCF - burning cash) (Net Debt 339b / FCF TTM -1197b)
Total Stockholder Equity = 3670b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.64% (Net Income 403b / Total Assets 68224b)
RoE = 10.98% (Net Income TTM 403b / Total Stockholder Equity 3670b)
RoCE = 5.97% (EBIT 1242b / Capital Employed (Equity 3670b + L.T.Debt 17138b))
RoIC = 2.05% (NOPAT 887b / Invested Capital 43235b)
WACC = 5.89% (E(4576b)/V(39912b) * Re(10.13%) + D(35336b)/V(39912b) * Rd(7.48%) * (1-Tc(0.29)))
Discount Rate = 10.13% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -81.46 | Cagr: -1.94%
[DCF] Fair Price = unknown (Cash Flow -1197b)
EPS Correlation: -0.06 | EPS CAGR: -0.13% | SUE: 0.01 | # QB: 0
Revenue Correlation: 83.03 | Revenue CAGR: 16.69% | SUE: 0.82 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.20 | Chg30d=+15.43% | Revisions=+25% | Analysts=1
EPS next Quarter (2026-12-31): EPS=0.21 | Chg30d=+15.47% | Revisions=+25% | Analysts=1
EPS current Year (2027-03-31): EPS=0.93 | Chg30d=+16.59% | Revisions=+25% | GrowthEPS=+21.1% | GrowthRev=+221.3%
EPS next Year (2028-03-31): EPS=0.95 | Chg30d=+16.08% | Revisions=+25% | GrowthEPS=+1.8% | GrowthRev=+0.5%