Overview Dividends

(NMR) Nomura Holdings - Ratings and Ratios

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

Wealth Management, Investment Management, Wholesale Banking

Investment Banking & Brokerage
Market Cap in USD: 24,589m

IPO / Inception: 1961-10-01
Return 12m vs S&P 500: 29.8%

EPS (Earnings per Share)

EPS CAGR: 4.15%
EPS Trend: 45.3%

Last SUE: 0.00
Qual. Beats: 0

Revenue

Rev. CAGR: 33.25%
Rev. Trend: 81.7%

Last SUE: 0.50
Qual. Beats: 0

Dividends

Dividend Yield	4.80%
Yield on Cost 5y	9.49%
Yield CAGR 5y	1.14%
Payout Consistency	85.0%
Payout Ratio	47.6%

Risk via 5d forecast
Volatility	30.9%
Value at Risk 5%th	46.0%
Relative Tail Risk	-9.49%

Reward TTM
Sharpe Ratio	1.35
Alpha	33.95
CAGR/Max DD	1.42

Character TTM
Hurst Exponent	0.394
Beta	1.147
Beta Downside	1.391

Drawdowns 3y
Max DD	26.34%
Mean DD	6.72%
Median DD	6.03%

Description: NMR Nomura Holdings December 19, 2025

Nomura Holdings, Inc. (NYSE: NMR) is a Japan-based financial services firm that delivers investment, financing and advisory solutions to retail, institutional and government clients worldwide through three operating segments: Wealth Management, Investment Management, and Wholesale.

The Wealth Management arm provides personalized investment consulting, while the Investment Management division runs discretionary mandates, investment trusts and silent partnerships for both retail and institutional investors. The Wholesale segment generates the bulk of earnings by trading debt and equity securities, foreign-exchange and derivatives, and by offering investment-banking services such as underwriting, M&A advisory and capital-raising.

Key data points (FY 2023): revenue of ¥1.5 trillion, net profit of ¥140 billion, and ROE of ~9 %, reflecting modest profitability in a low-interest-rate environment. The business is sensitive to Japanese yen volatility (which can boost overseas earnings when the yen weakens) and to global capital-market cycles that drive deal flow and trading volumes. Recent sector trends-tightening credit conditions in Asia and a shift toward ESG-focused investment products-are reshaping Nomura’s growth opportunities.

For a deeper quantitative assessment, you may find ValueRay’s sector dashboards useful.

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 -1.17pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -604.4% (prev -606.1%; Δ 1.69pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.00 (>3.0%) and CFO 264.20b <= 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 34.97%; Δ 5.99pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 7.48% (prev 7.84%; Δ -0.36pp) >=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'' -2.65

(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) 0.05 = Book Value of Equity 2570.40b / Total Liabilities 56759.04b

Total Rating: -2.65 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 43.51

1. Piotroski 2.50pt

2. FCF Yield -2.96%

3. FCF Margin -19.71%

4. Debt/Equity 8.99

5. Debt/Ebitda 17.20

6. ROIC - WACC (= 0.49)%

7. RoE 10.57%

8. Rev. Trend 81.68%

9. EPS Trend 45.26%

What is the price of NMR shares?

As of December 26, 2025, the stock is trading at USD 8.32 with a total of 613,600 shares traded.
Over the past week, the price has changed by +1.34%, over one month by +13.66%, over three months by +14.31% and over the past year by +50.74%.

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	9	7.9%
Analysts Target Price	9	7.9%
ValueRay Target Price	11	31.7%

NMR Fundamental Data Overview December 25, 2025

Market Cap JPY = 3834.52b (24.59b USD * 155.9458 USD.JPY)
P/E Trailing = 10.8831
P/E Forward = 16.0772
P/S = 0.0123
P/B = 1.102
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 = 22697.81b JPY (from shortTermDebt, last quarter)
Debt = 31346.28b JPY (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 9166.34b JPY (from netDebt column, last quarter)
Enterprise Value = 29313.44b JPY (3834.52b + Debt 31346.28b - CCE 5867.36b)
Interest Coverage Ratio = 0.30 (Ebit TTM 782.40b / Interest Expense TTM 2601.60b)
FCF Yield = -2.96% (FCF TTM -868.58b / Enterprise Value 29313.44b)
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 = 0.49 (Enterprise Value 29313.44b / 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 = 2.40% (E(3834.52b)/V(35180.80b) * Re(10.24%) + D(31346.28b)/V(35180.80b) * Rd(2.06%) * (1-Tc(0.30)))
Discount Rate = 10.24% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.90%
Fair Price DCF = unknown (Cash Flow -868.58b)
EPS Correlation: 45.26 | EPS CAGR: 4.15% | SUE: 0.00 | # QB: 0
Revenue Correlation: 81.68 | Revenue CAGR: 33.25% | SUE: 0.50 | # QB: 0
EPS current Year (2026-03-31): EPS=0.84 | Chg30d=+0.055 | Revisions Net=+1 | Growth EPS=+5.4% | Growth Revenue=+196.9%
EPS next Year (2027-03-31): EPS=0.75 | Chg30d=+0.007 | Revisions Net=+1 | Growth EPS=-11.3% | Growth Revenue=-2.8%

Additional Sources for NMR Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle