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

NMR EPS (Earnings per Share)

EPS Growth (3Y CAGR): -60.54%
EPS Trend (3Y Correlation): 6.7%

NMR Revenue

Revenue Growth (3Y CAGR): 65.42%
Revenue Trend (3Y Correlation): 89.9%

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	20,898m
Sub-Industry	Investment Banking & Brokerage
IPO / Inception	1961-10-01

NMR Stock Ratings

Growth Rating	83.9%
Fundamental	47.7%
Dividend Rating	58.3%
Return 12m vs S&P 500	23.7%
Analyst Rating	3.0 of 5

NMR Dividends

Dividend Yield 12m	5.54%
Yield on Cost 5y	11.07%
Annual Growth 5y	1.14%
Payout Consistency	85.0%
Payout Ratio	46.5%

NMR Growth Ratios

Growth Correlation 3m	18.8%
Growth Correlation 12m	78.3%
Growth Correlation 5y	54.9%
CAGR 5y	36.43%
CAGR/Max DD 3y (Calmar Ratio)	1.38
CAGR/Mean DD 3y (Pain Ratio)	5.44
Sharpe Ratio 12m	1.18
Alpha	37.47
Beta	0.513
Volatility	28.43%
Current Volume	578.5k
Average Volume 20d	601.2k
Stop Loss	6.9 (-4.3%)
Signal	0.49

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income (376.36b TTM) > 0 and > 6% of Revenue (6% = 269.20b TTM)

FCFTA -0.01 (>2.0%) and ΔFCFTA -2.28pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -588.7% (prev -683.6%; Δ 94.83pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.02 (>3.0%) and CFO -1047.68b <= Net Income 376.36b (YES >=105%, WARN >=100%)

Net Debt (-4983.23b) to EBITDA (529.32b) ratio: -9.41 <= 3.0 (WARN <= 3.5)

Current Ratio 0.22 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (3.07b) change vs 12m ago -0.54% (target <= -2.0% for YES)

Gross Margin 39.51% (prev -20.50%; Δ 60.01pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 7.61% (prev 4.00%; Δ 3.61pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.20 (EBITDA TTM 529.32b / Interest Expense TTM 2714.09b) >= 6 (WARN >= 3)

Altman Z'' -2.75

(A) -0.45 = (Total Current Assets 7403.86b - Total Current Liabilities 33817.75b) / Total Assets 58101.09b

(B) 0.03 = Retained Earnings (Balance) 1963.11b / Total Assets 58101.09b

(D) 0.05 = Book Value of Equity 2959.13b / Total Liabilities 54512.14b

Total Rating: -2.75 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 47.66

1. Piotroski 3.50pt = -1.50

2. FCF Yield -2.98% = -1.49

3. FCF Margin -19.36% = -7.26

4. Debt/Equity 8.91 = -2.50

5. Debt/Ebitda -9.41 = 2.50

6. ROIC - WACC (= -0.07)% = -0.08

7. RoE 10.90% = 0.91

8. Rev. Trend 89.95% = 6.75

9. EPS Trend 6.67% = 0.33

What is the price of NMR shares?

As of October 29, 2025, the stock is trading at USD 7.21 with a total of 578,500 shares traded.
Over the past week, the price has changed by +1.98%, over one month by -1.08%, over three months by +10.33% and over the past year by +48.06%.

Is Nomura Holdings a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Nomura Holdings (NYSE:NMR) is currently (October 2025) a stock to sell. It has a ValueRay Fundamental Rating of 47.66 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of NMR is around 8.82 USD . This means that NMR is currently undervalued and has a potential upside of +22.33% (Margin of Safety).

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	7.1	-1.8%
Analysts Target Price	7.1	-1.8%
ValueRay Target Price	9.3	29%

NMR Fundamental Data Overview October 29, 2025

Market Cap JPY = 3193.98b (20.90b USD * 152.839 USD.JPY)
P/E Trailing = 8.85
P/E Forward = 16.0772
P/S = 0.0107
P/B = 0.8869
P/EG = 0.851
Beta = 0.513
Revenue TTM = 4486.68b JPY
EBIT TTM = 529.32b JPY
EBITDA TTM = 529.32b JPY
Long Term Debt = 14270.23b JPY (from longTermDebt, last quarter)
Short Term Debt = 16700.15b JPY (from shortTermDebt, last quarter)
Debt = 30970.38b JPY (from shortLongTermDebtTotal, last quarter)
Net Debt = -4983.23b JPY (from netDebt column, last quarter)
Enterprise Value = 29181.13b JPY (3193.98b + Debt 30970.38b - CCE 4983.23b)
Interest Coverage Ratio = 0.20 (Ebit TTM 529.32b / Interest Expense TTM 2714.09b)
FCF Yield = -2.98% (FCF TTM -868.58b / Enterprise Value 29181.13b)
FCF Margin = -19.36% (FCF TTM -868.58b / Revenue TTM 4486.68b)
Net Margin = 8.39% (Net Income TTM 376.36b / Revenue TTM 4486.68b)
Gross Margin = 39.51% ((Revenue TTM 4486.68b - Cost of Revenue TTM 2714.09b) / Revenue TTM)
Gross Margin QoQ = 45.25% (prev 36.18%)
Tobins Q-Ratio = 0.50 (Enterprise Value 29181.13b / Total Assets 58101.09b)
Interest Expense / Debt = 2.04% (Interest Expense 633.27b / Debt 30970.38b)
Taxrate = 32.95% (52.81b / 160.28b)
NOPAT = 354.92b (EBIT 529.32b * (1 - 32.95%))
Current Ratio = 0.22 (Total Current Assets 7403.86b / Total Current Liabilities 33817.75b)
Debt / Equity = 8.91 (Debt 30970.38b / totalStockholderEquity, last quarter 3476.01b)
Debt / EBITDA = -9.41 (Net Debt -4983.23b / EBITDA 529.32b)
Debt / FCF = 5.74 (negative FCF - burning cash) (Net Debt -4983.23b / FCF TTM -868.58b)
Total Stockholder Equity = 3454.40b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.65% (Net Income 376.36b / Total Assets 58101.09b)
RoE = 10.90% (Net Income TTM 376.36b / Total Stockholder Equity 3454.40b)
RoCE = 2.99% (EBIT 529.32b / Capital Employed (Equity 3454.40b + L.T.Debt 14270.23b))
RoIC = 1.92% (NOPAT 354.92b / Invested Capital 18513.79b)
WACC = 1.98% (E(3193.98b)/V(34164.37b) * Re(7.91%) + D(30970.38b)/V(34164.37b) * Rd(2.04%) * (1-Tc(0.33)))
Discount Rate = 7.91% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -1.14%
Fair Price DCF = unknown (Cash Flow -868.58b)
EPS Correlation: 6.67 | EPS CAGR: -60.54% | SUE: -0.02 | # QB: 0
Revenue Correlation: 89.95 | Revenue CAGR: 65.42% | SUE: 0.53 | # QB: 0

Additional Sources for NMR Stock

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