(NMR) Nomura Holdings - Ratings and Ratios

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

Wealth Management, Investment Management, Wholesale Banking

Stock: Investment Banking & Brokerage
Age 64.3y

MCap 27,552m
Avg Vol 871K (7.68M USD)

Beta 1.161
Volatility 32.43%

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	6.09%
Yield on Cost 5y	9.06%
Yield CAGR 5y	17.83%
Payout Consistency	85.6%
Payout Ratio	47.6%

Risk via 5d forecast
Volatility	32.4%
Value at Risk 5%th	47.3%
Relative Tail Risk	-11.25%

Reward TTM
Sharpe Ratio	1.38
Alpha	38.95
CAGR/Max DD	1.40

Character TTM
Hurst Exponent	0.322
Beta	1.161
Beta Downside	1.380

Drawdowns 3y
Max DD	26.34%
Mean DD	6.73%
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
FCF/TA: -0.01 > 0.02 and ΔFCF/TA -1.17 > 1.0
NWC/Revenue: -604.4% < 20% (prev -606.1%; Δ 1.69% < -1%)
CFO/TA 0.00 > 3% & CFO 264.20b > Net Income 370.05b
Net Debt (9166.34b) to EBITDA (532.95b): 17.20 < 3
Current Ratio: 0.21 > 1.5 & < 3
Outstanding Shares: last quarter (3.02b) vs 12m ago -0.98% < -2%
Gross Margin: 40.96% > 18% (prev 0.35%; Δ 4061 % > 0.5%)
Asset Turnover: 7.48% > 50% (prev 7.84%; Δ -0.36% > 0%)
Interest Coverage Ratio: 0.30 > 6 (EBITDA TTM 532.95b / Interest Expense TTM 2601.60b)

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 1975.90b / Total Assets 60367.70b)
C: 0.01 (EBIT TTM 782.40b / Avg Total Assets 58913.17b)
D: 0.05 (Book Value of Equity 2570.40b / Total Liabilities 56759.04b)
Altman-Z'' Score: -2.65= D

Beneish M -3.73

DSRI: 0.31 (Receivables 443.13b/1479.58b, Revenue 4406.74b/4502.14b)
GMI: 0.85 (GM 40.96% / 34.97%)
AQI: 1.01 (AQ_t 0.87 / AQ_t-1 0.86)
SGI: 0.98 (Revenue 4406.74b / 4502.14b)
TATA: 0.00 (NI 370.05b - CFO 264.20b) / TA 60367.70b)
Beneish M-Score: -3.73 = AAA

ValueRay F-Score (Strict, 0-100) 43.40

1. Piotroski: 2.50pt
2. FCF Yield: -2.91%
3. FCF Margin: -19.71%
4. Debt/Equity: 8.99
5. Debt/Ebitda: 17.20
6. ROIC - WACC: 0.38%
7. RoE: 10.57%
8. Revenue Trend: 81.68%
9. EPS Trend: 45.26%

What is the price of NMR shares?

As of January 25, 2026, the stock is trading at USD 8.96 with a total of 1,008,112 shares traded.
Over the past week, the price has changed by -3.55%, over one month by +6.92%, over three months by +28.74% and over the past year by +54.68%.

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	0.2%
Analysts Target Price	9	0.2%
ValueRay Target Price	12	33.6%

NMR Fundamental Data Overview January 25, 2026

Market Cap JPY = 4366.17b (27.55b USD * 158.4675 USD.JPY)
P/E Trailing = 12.3553
P/E Forward = 16.0772
P/S = 0.0138
P/B = 1.2525
P/EG = 0.851
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 = 29845.09b JPY (4366.17b + Debt 31346.28b - CCE 5867.36b)
Interest Coverage Ratio = 0.30 (Ebit TTM 782.40b / Interest Expense TTM 2601.60b)
EV/FCF = -34.36x (Enterprise Value 29845.09b / FCF TTM -868.58b)
FCF Yield = -2.91% (FCF TTM -868.58b / Enterprise Value 29845.09b)
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 29845.09b / 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 = 0.63% (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 = 2.51% (E(4366.17b)/V(35712.45b) * Re(10.19%) + D(31346.28b)/V(35712.45b) * Rd(2.06%) * (1-Tc(0.30)))
Discount Rate = 10.19% (= 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=+199.8%
EPS next Year (2027-03-31): EPS=0.75 | Chg30d=+0.007 | Revisions Net=+1 | Growth EPS=-11.3% | Growth Revenue=-1.5%

Additional Sources for NMR Stock

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