NMR Stock Analysis: Nomura Holdings | NYSE
Capital Markets | NYSE, USA | Market Cap: 26.248m USD | 12M Return: 55.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 12.1M
EPS Trend: 21.0%
Qual. Beats: 0
Rev. Trend: 84.8%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 10.5 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: 362b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -0.38 > 1.0 |
| NWC/Revenue: 370.9% < 20% (prev -591.3%; Δ 962.2% < -1%) |
| CFO/TA -0.01 > 3% & CFO -843b > Net Income 362b |
| Net Debt (12446b) to EBITDA (608b): 20.47 < 3 |
| Current Ratio: 1.43 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.04b) vs 12m ago -1.09% < -2% |
| Gross Margin: 45.55% > 18% (prev 36.86%; Δ 8.70% > 0.5%) |
| Asset Turnover: 7.97% > 50% (prev 7.93%; Δ 0.04% > 0%) |
| Interest Coverage Ratio: 0.21 > 6 (EBIT TTM 540b / Interest Expense TTM 2591b) |
| A: 0.28 (Total Current Assets 59084b - Total Current Liabilities 41432b) / Total Assets 62646b |
| B: 0.03 (Retained Earnings 2014b / Total Assets 62646b) |
| C: 0.01 (EBIT TTM 540b / Avg Total Assets 59724b) |
| D: 0.06 (Book Value of Equity 3708b / Total Liabilities 58791b) |
| Altman-Z'' = 2.08 = BBB |
| DSRI: 1.04 (Receivables 1798b/1641b, Revenue 4758b/4504b) |
| GMI: 0.81 (GM 36.86% / 45.55%) |
| AQI: 0.06 (AQ_t 0.05 / AQ_t-1 0.87) |
| SGI: 1.06 (Revenue 4758b / 4504b) |
| TATA: 0.02 (NI 362b - CFO -843b) / TA 62646b) |
| Beneish M = -3.69 (Cap -4..+1) = AAA |
As of July 08, 2026, the stock is trading at USD 9.42 with a total of 1,089,938 shares traded. Over the past week, the price has changed by +7.41%, over one month by +9.79%, over three months by +16.73% and over the past year by +55.77%.
Current recommended Stop Loss: 9.10 (which is 3.4% or 1.5 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 | 10.2 | 8.3% |
Market Cap JPY = 4261b (26.2b USD * 162.32 USD.JPY)
P/E Trailing = 12.1351
P/E Forward = 15.3846
P/S = 0.0121
P/B = 1.1453
P/EG = 0.8146
Revenue TTM = 4758b JPY
EBIT TTM = 540b JPY
EBITDA TTM = 608b JPY
Long Term Debt = 15929b JPY (from longTermDebt, last quarter)
Short Term Debt = 1753b JPY (from shortTermDebt, last quarter)
Debt = 17454b JPY (from shortLongTermDebtTotal, last quarter) + Leases 156b
Net Debt = 12446b JPY (calculated: Debt 17454b - CCE 5008b)
Enterprise Value = 16706b JPY (4261b + Debt 17454b - CCE 5008b)
Interest Coverage Ratio = 0.21 (Ebit TTM 540b / Interest Expense TTM 2591b)
EV/FCF = -13.96x (Enterprise Value 16706b / FCF TTM -1197b)
FCF Yield = -7.16% (FCF TTM -1197b / Enterprise Value 16706b)
FCF Margin = -25.15% (FCF TTM -1197b / Revenue TTM 4758b)
Net Margin = 7.61% (Net Income TTM 362b / Revenue TTM 4758b)
Gross Margin = 45.55% ((Revenue TTM 4758b - Cost of Revenue TTM 2591b) / Revenue TTM)
Gross Margin QoQ = 53.22% (prev 42.40%)
Tobins Q-Ratio = 0.27 (Enterprise Value 16706b / Total Assets 62646b)
Interest Expense / Debt = 14.84% (Interest Expense 2591b / Debt 17454b)
Taxrate = 30.65% (165b / 540b)
NOPAT = 374b (EBIT 540b * (1 - 30.65%))
Current Ratio = 1.43 (Total Current Assets 59084b / Total Current Liabilities 41432b)
Debt / Equity = 4.71 (Debt 17454b / totalStockholderEquity, last quarter 3708b)
Debt / EBITDA = 20.47 (Net Debt 12446b / EBITDA 608b)
Debt / FCF = -10.40 (negative FCF - burning cash) (Net Debt 12446b / FCF TTM -1197b)
Total Stockholder Equity = 3580b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.61% (Net Income 362b / Total Assets 62646b)
RoE = 10.11% (Net Income TTM 362b / Total Stockholder Equity 3580b)
RoCE = 2.77% (EBIT 540b / Capital Employed (Equity 3580b + L.T.Debt 15929b))
RoIC = 1.65% (NOPAT 374b / Invested Capital 22728b)
WACC = 10.52% (E(4261b)/V(21715b) * Re(11.45%) + D(17454b)/V(21715b) * Rd(14.84%) * (1-Tc(0.31)))
Discount Rate = 11.45% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -60.0 | Cagr: -1.35%
[DCF] Fair Price = unknown (Cash Flow -1197b)
EPS Correlation: 20.97 | EPS CAGR: 56.53% | SUE: -0.01 | # QB: 0
Revenue Correlation: 84.76 | Revenue CAGR: 22.62% | SUE: 2.19 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.23 | Chg30d=+7.57% | Revisions=+25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.18 | Chg30d=-5.08% | Revisions=+25% | Analysts=1
EPS current Year (2027-03-31): EPS=0.80 | Chg30d=+1.89% | Revisions=+25% | GrowthEPS=+3.8% | GrowthRev=+215.2%
EPS next Year (2028-03-31): EPS=0.82 | Chg30d=N/A | Revisions=-25% | GrowthEPS=+2.2% | GrowthRev=+1.5%