Overview Dividends

(NMR) Nomura Holdings - Ratings and Ratios

Exchange: NYSE • Country: Japan • Currency: USD • Type: Common Stock • ISIN: US65535H2085

Wealth Management, Investment Management, Wholesale, Brokerage, Advisory

EPS (Earnings per Share)

EPS Growth (3y CAGR): 5.33%
EPS Trend (3y Corr): 33.9%

Last SUE: 0.00σ
Qual. Beats: 0

Revenue

Revenue Growth (3y CAGR): 50.59%
Revenue Trend (3y Corr): 88.5%

Last SUE: 0.50σ
Qual. Beats: 0

Risk via 10d forecast
Volatility	32.7%
Value at Risk 5%th	48.6%
Relative Tail Risk	-9.56%

Reward TTM
Sharpe Ratio	0.79
Alpha	12.13

Character TTM
Hurst Exponent	0.297
Beta	1.129
Beta Downside	1.306

Drawdowns 3y
Max DD	26.34%
Mean DD	6.75%
Median DD	6.03%

Description: NMR Nomura Holdings October 16, 2025

Nomura Holdings, Inc. (NYSE: NMR) is a global financial services firm headquartered in Tokyo, operating through three primary segments: Wealth Management, Investment Management, and Wholesale. The Wholesale segment drives the bulk of earnings by providing institutional clients with bond, equity, FX, and derivatives trading, underwriting a broad spectrum of securities, and delivering advisory services for M&A, capital raising, and risk management. Wealth Management supplies retail and high-net-worth clients with investment products and advice, while Investment Management handles discretionary mandates, investment trusts, and fund offerings.

Key quantitative drivers (as of FY 2023) include: • Revenue of ¥1.2 trillion, with the Wholesale segment contributing roughly 70 % of total sales. • Net profit margin of 9 %, supported by a 15 % year-over-year increase in fee-based income from underwriting and advisory work. • Assets under management (AUM) of ¥12 trillion, reflecting modest growth despite a challenging low-interest-rate environment in Japan. The business is highly sensitive to market volatility, global interest-rate cycles, and the health of the Japanese yen, which affect both trading volumes and the valuation of foreign-currency-denominated assets.

If you want a deeper, data-rich assessment of Nomura’s valuation metrics and scenario analysis, a quick look at ValueRay’s analyst toolkit can help you surface the most relevant forward-looking indicators.

NMR Stock Overview

Market Cap in USD	20,509m
Sub-Industry	Investment Banking & Brokerage
IPO / Inception	1961-10-01
Return 12m vs S&P 500	11.8%
Analyst Rating	3.0 of 5

NMR Dividends

Metric	Value
Dividend Yield	5.58%
Yield on Cost 5y	9.89%
Yield CAGR 5y	1.14%
Payout Consistency	85.0%
Payout Ratio	47.6%

NMR Growth Ratios

Metric	Value
CAGR 3y	31.81%
CAGR/Max DD Calmar Ratio	1.21
CAGR/Mean DD Pain Ratio	4.72
Current Volume	2678.1k
Average Volume	615.4k

Piotroski VR‑10 (Strict, 0-10) 2.5

Net Income (370.05b TTM) > 0 and > 6% of Revenue (6% = 264.40b TTM)

FCFTA -0.01 (>2.0%) and ΔFCFTA -3.11pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -604.4% (prev -848.5%; Δ 244.1pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.01 (>3.0%) and CFO -678.61b <= Net Income 370.05b (YES >=105%, WARN >=100%)

Net Debt (9166.34b) to EBITDA (532.95b) ratio: 17.20 <= 3.0 (WARN <= 3.5)

Current Ratio 0.21 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (3.02b) change vs 12m ago -0.98% (target <= -2.0% for YES)

Gross Margin 40.96% (prev 8.96%; Δ 32.00pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 7.48% (prev 5.60%; Δ 1.88pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.30 (EBITDA TTM 532.95b / Interest Expense TTM 2601.60b) >= 6 (WARN >= 3)

Altman Z'' -2.66

(A) -0.44 = (Total Current Assets 7183.65b - Total Current Liabilities 33817.75b) / Total Assets 60367.70b

(B) 0.03 = Retained Earnings (Balance) 1975.90b / Total Assets 60367.70b

(D) 0.03 = Book Value of Equity 1975.90b / Total Liabilities 56759.04b

Total Rating: -2.66 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 43.55

1. Piotroski 2.50pt

2. FCF Yield -3.13%

3. FCF Margin -19.71%

4. Debt/Equity 8.99

5. Debt/Ebitda 17.20

6. ROIC - WACC (= 0.64)%

7. RoE 10.57%

8. Rev. Trend 88.54%

9. EPS Trend 33.90%

What is the price of NMR shares?

As of November 22, 2025, the stock is trading at USD 7.16 with a total of 2,678,097 shares traded.
Over the past week, the price has changed by -3.11%, over one month by +1.27%, over three months by +1.51% and over the past year by +25.65%.

Is NMR a buy, sell or hold?

Nomura Holdings has received a consensus analysts rating of 3.00. Therefor, it is recommend to hold NMR.

Strong Buy: 0
Buy: 0
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the NMR price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	7.6	5.9%
Analysts Target Price	7.6	5.9%
ValueRay Target Price	8.9	24.3%

NMR Fundamental Data Overview November 21, 2025

Market Cap JPY = 3206.64b (20.51b USD * 156.35 USD.JPY)
P/E Trailing = 8.9615
P/E Forward = 16.0772
P/S = 0.0103
P/B = 0.9034
P/EG = 0.851
Beta = 0.449
Revenue TTM = 4406.74b JPY
EBIT TTM = 782.40b JPY
EBITDA TTM = 532.95b JPY
Long Term Debt = 14776.43b JPY (from longTermDebt, last quarter)
Short Term Debt = 1221.74b JPY (from shortLongTermDebt, last quarter)
Debt = 31346.28b JPY (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 9166.34b JPY (from netDebt column, last quarter)
Enterprise Value = 27721.08b JPY (3206.64b + Debt 31346.28b - CCE 6831.84b)
Interest Coverage Ratio = 0.30 (Ebit TTM 782.40b / Interest Expense TTM 2601.60b)
FCF Yield = -3.13% (FCF TTM -868.58b / Enterprise Value 27721.08b)
FCF Margin = -19.71% (FCF TTM -868.58b / Revenue TTM 4406.74b)
Net Margin = 8.40% (Net Income TTM 370.05b / Revenue TTM 4406.74b)
Gross Margin = 40.96% ((Revenue TTM 4406.74b - Cost of Revenue TTM 2601.60b) / Revenue TTM)
Gross Margin QoQ = 42.03% (prev 45.25%)
Tobins Q-Ratio = 0.46 (Enterprise Value 27721.08b / Total Assets 60367.70b)
Interest Expense / Debt = 2.06% (Interest Expense 645.75b / Debt 31346.28b)
Taxrate = 29.90% (40.85b / 136.65b)
NOPAT = 548.49b (EBIT 782.40b * (1 - 29.90%))
Current Ratio = 0.21 (Total Current Assets 7183.65b / Total Current Liabilities 33817.75b)
Debt / Equity = 8.99 (Debt 31346.28b / totalStockholderEquity, last quarter 3485.28b)
Debt / EBITDA = 17.20 (Net Debt 9166.34b / EBITDA 532.95b)
Debt / FCF = -10.55 (negative FCF - burning cash) (Net Debt 9166.34b / FCF TTM -868.58b)
Total Stockholder Equity = 3500.53b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.61% (Net Income 370.05b / Total Assets 60367.70b)
RoE = 10.57% (Net Income TTM 370.05b / Total Stockholder Equity 3500.53b)
RoCE = 4.28% (EBIT 782.40b / Capital Employed (Equity 3500.53b + L.T.Debt 14776.43b))
RoIC = 2.89% (NOPAT 548.49b / Invested Capital 18971.49b)
WACC = 2.25% (E(3206.64b)/V(34552.92b) * Re(10.18%) + D(31346.28b)/V(34552.92b) * Rd(2.06%) * (1-Tc(0.30)))
Discount Rate = 10.18% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.90%
Fair Price DCF = unknown (Cash Flow -868.58b)
EPS Correlation: 33.90 | EPS CAGR: 5.33% | SUE: 0.00 | # QB: 0
Revenue Correlation: 88.54 | Revenue CAGR: 50.59% | SUE: 0.50 | # QB: 0

Additional Sources for NMR Stock

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