NMR Stock Analysis: Nomura Holdings | NYSE
Capital Markets | NYSE, USA | Market Cap: 27.944m USD | 12M Return: 49.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.1M
EPS Trend: -0.1%
Qual. Beats: 0
Rev. Trend: 74.7%
Qual. Beats: 0
Warnings
No concerns identified
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: 414.4% < 20% (prev 300.8%; Δ 113.7% < -1%) |
| CFO/TA -0.01 > 3% & CFO -843b > Net Income 403b |
| Net Debt (11294b) to EBITDA (3302b): 3.42 < 3 |
| Current Ratio: 1.43 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.92b) vs 12m ago -4.86% < -2% |
| Gross Margin: 39.17% > 18% (prev 38.90%; Δ 0.27% > 0.5%) |
| Asset Turnover: 6.74% > 50% (prev 7.65%; Δ -0.90% > 0%) |
| Interest Coverage Ratio: 1.22 > 6 (EBIT TTM 3234b / Interest Expense TTM 2642b) |
| A: 0.26 (Total Current Assets 59084b - Total Current Liabilities 41432b) / Total Assets 68224b |
| B: 0.03 (Retained Earnings 2152b / Total Assets 68224b) |
| C: 0.05 (EBIT TTM 3234b / Avg Total Assets 63163b) |
| D: 0.06 (Book Value of Equity 3834b / Total Liabilities 64230b) |
| Altman-Z'' = 2.21 = BBB |
| DSRI: 0.19 (Receivables 843b/4727b, Revenue 4259b/4442b) |
| GMI: 0.99 (GM 38.90% / 39.17%) |
| AQI: 0.75 (AQ_t 0.13 / AQ_t-1 0.17) |
| SGI: 0.96 (Revenue 4259b / 4442b) |
| TATA: 0.02 (NI 403b - CFO -843b) / TA 68224b) |
| Beneish M = -3.88 (Cap -4..+1) = AAA |
As of August 05, 2026, the stock is trading at USD 9.74 with a total of 806,312 shares traded. Over the past week, the price has changed by +1.35%, over one month by +4.62%, over three months by +25.35% and over the past year by +49.62%.
Current recommended Stop Loss: 9.20 (which is 5.5% 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 | 5.9% |
Market Cap JPY = 4404b (27.9b USD * 157.59 USD.JPY)
P/E Trailing = 11.95
P/E Forward = 15.3846
P/S = 0.0129
P/B = 1.2072
P/EG = 0.8146
Revenue TTM = 4259b JPY
EBIT TTM = 3234b JPY
EBITDA TTM = 3302b JPY
Long Term Debt = 17138b JPY (from longTermDebt, last quarter)
Short Term Debt = 1933b JPY (from shortLongTermDebt, last quarter)
Debt = 17454b JPY (from shortLongTermDebtTotal, last fiscal year) + Leases 156b
Net Debt = 11294b JPY (calculated: Debt 17454b - CCE 6160b)
Enterprise Value = 15698b JPY (4404b + Debt 17454b - CCE 6160b)
Interest Coverage Ratio = 1.22 (Ebit TTM 3234b / Interest Expense TTM 2642b)
EV/FCF = -13.12x (Enterprise Value 15698b / FCF TTM -1197b)
FCF Yield = -7.62% (FCF TTM -1197b / Enterprise Value 15698b)
FCF Margin = -28.10% (FCF TTM -1197b / Revenue TTM 4259b)
Net Margin = 9.47% (Net Income TTM 403b / Revenue TTM 4259b)
Gross Margin = 39.17% ((Revenue TTM 4259b - Cost of Revenue TTM 2591b) / Revenue TTM)
Gross Margin QoQ = none% (prev 53.22%)
Tobins Q-Ratio = 0.23 (Enterprise Value 15698b / Total Assets 68224b)
Interest Expense / Debt = 15.14% (Interest Expense 2642b / Debt 17454b)
Taxrate = 28.43% (168b / 591b)
NOPAT = 2314b (EBIT 3234b * (1 - 28.43%))
Current Ratio = 1.43 (Total Current Assets 59084b / Total Current Liabilities 41432b)
Debt / Equity = 4.55 (Debt 17454b / totalStockholderEquity, last quarter 3834b)
Debt / EBITDA = 3.42 (Net Debt 11294b / EBITDA 3302b)
Debt / FCF = -9.44 (negative FCF - burning cash) (Net Debt 11294b / 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 = 15.54% (EBIT 3234b / Capital Employed (Equity 3670b + L.T.Debt 17138b))
RoIC = 8.17% (NOPAT 2314b / Invested Capital 28331b)
WACC = 10.72% (E(4404b)/V(21858b) * Re(10.24%) + D(17454b)/V(21858b) * Rd(15.14%) * (1-Tc(0.28)))
Discount Rate = 10.24% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -83.04 | Cagr: -1.35%
[DCF] Fair Price = unknown (Cash Flow -1197b)
EPS Correlation: -0.06 | EPS CAGR: -0.13% | SUE: 0.01 | # QB: 0
Revenue Correlation: 74.66 | Revenue CAGR: 14.04% | SUE: 0.03 | # 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=+201.1%
EPS next Year (2028-03-31): EPS=0.95 | Chg30d=+16.08% | Revisions=-25% | GrowthEPS=+1.8% | GrowthRev=+6.6%