NMR Stock Analysis: Nomura Holdings | NYSE
Capital Markets | NYSE, USA | Market Cap: 27.531m USD | 12M Return: 36.5% | US65535H2085 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 8.86M
EPS Trend: -22.9%
Qual. Beats: 0
Rev. Trend: 65.0%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.9 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Nomura Holdings, Inc. (NYSE: NMR) is a Japan-headquartered global financial services group that provides investment, financing, and related services to individual, institutional, and government clients. Founded in 1925 and listed on the NYSE since 1961, Nomura operates as one of Japans largest brokerage and investment banking firms, with a large-cap market presence of approximately $28.96 billion USD. The company is classified within the Financials sector, specifically the Investment Banking & Brokerage sub-industry.
Nomura organizes its business into three core segments: Wealth Management, which delivers asset management services to retail and individual clients; Investment Management, which provides investment solutions, including the management of investment trusts, discretionary investment services, and funds for institutional investors; 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. The Wholesale segment is central to its global institutional and capital markets franchise, while the Investment Management arm connects Nomura to the broader asset and fund management industry.
- BoJ rate hikes boost wealth management net interest income
- Wholesale investment banking revenue surges on M&A recovery
- Asset management AUM declines on Japanese equity market weakness
| Net Income: 415b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -0.33 > 1.0 |
| NWC/Revenue: -67.94% < 20% (prev 78.47%; Δ -146.4% < -1%) |
| CFO/TA -0.01 > 3% & CFO -843b > Net Income 415b |
| Net Debt (-743b) to EBITDA (671b): -1.11 < 3 |
| Current Ratio: 0.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.00b) vs 12m ago -0.76% < -2% |
| Gross Margin: 53.01% > 18% (prev 40.36%; Δ 12.65% > 0.5%) |
| Asset Turnover: 7.00% > 50% (prev 7.23%; Δ -0.23% > 0%) |
| Interest Coverage Ratio: 0.22 > 6 (EBIT TTM 602b / Interest Expense TTM 2712b) |
| A: -0.05 (Total Current Assets 39326b - Total Current Liabilities 42365b) / Total Assets 67482b |
| B: 0.03 (Retained Earnings 2153b / Total Assets 67482b) |
| C: 0.01 (EBIT TTM 602b / Avg Total Assets 63925b) |
| D: 0.06 (Book Value of Equity 3775b / Total Liabilities 63556b) |
| Altman-Z'' = -0.07 = B |
| DSRI: 0.94 (Receivables 4677b/4870b, Revenue 4472b/4362b) |
| GMI: 0.76 (GM 40.36% / 53.01%) |
| AQI: 1.21 (AQ_t 0.41 / AQ_t-1 0.34) |
| SGI: 1.03 (Revenue 4472b / 4362b) |
| TATA: 0.02 (NI 415b - CFO -843b) / TA 67482b) |
| Beneish M = -3.15 (Cap -4..+1) = AA |
As of November 11, 2026, the stock is trading at USD 9.51 with a total of 966,149 shares traded. Over the past week, the price has changed by +0.42%, over one month by -0.63%, over three months by -1.47% and over the past year by +36.52%.
Current recommended Stop Loss: 9.20 (which is 3.3% or 1.3 ATR below the current price).
Nomura Holdings has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy NMR.
- StrongBuy: 1
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 10.6 | 11.9% |
Market Cap JPY = 4350b (27.5b USD * 157.99 USD.JPY)
P/E Trailing = 10.8276
P/E Forward = 15.3846
P/S = 0.0114
P/B = 1.1549
P/EG = 0.8146
Revenue TTM = 4472b JPY
EBIT TTM = 602b JPY
EBITDA TTM = 671b JPY
Long Term Debt = 16082b JPY (from longTermDebt, last quarter)
Short Term Debt = 17668b JPY (from shortTermDebt, last quarter)
Debt = 33906b JPY (from shortLongTermDebtTotal, last quarter) + Leases 156b
Net Debt = -743b JPY (calculated: Debt 33906b - CCE 34650b)
Enterprise Value = 3606b JPY (4350b + Debt 33906b - CCE 34650b)
Interest Coverage Ratio = 0.22 (Ebit TTM 602b / Interest Expense TTM 2712b)
EV/FCF = -3.01x (Enterprise Value 3606b / FCF TTM -1197b)
FCF Yield = -33.19% (FCF TTM -1197b / Enterprise Value 3606b)
FCF Margin = -26.76% (FCF TTM -1197b / Revenue TTM 4472b)
Net Margin = 9.28% (Net Income TTM 415b / Revenue TTM 4472b)
Gross Margin = 53.01% ((Revenue TTM 4472b - Cost of Revenue TTM 2101b) / Revenue TTM)
Gross Margin QoQ = 42.89% (prev 89.18%)
Tobins Q-Ratio = 0.05 (Enterprise Value 3606b / Total Assets 67482b)
Interest Expense / Debt = 8.00% (Interest Expense 2712b / Debt 33906b)
Taxrate = 28.01% (169b / 602b)
NOPAT = 434b (EBIT 602b * (1 - 28.01%))
Current Ratio = 0.93 (Total Current Assets 39326b / Total Current Liabilities 42365b)
Debt / Equity = 8.98 (Debt 33906b / totalStockholderEquity, last quarter 3775b)
Debt / EBITDA = -1.11 (Net Debt -743b / EBITDA 671b)
Debt / FCF = 0.62 (negative FCF - burning cash) (Net Debt -743b / FCF TTM -1197b)
Total Stockholder Equity = 3742b (last 4 quarters mean from totalStockholderEquity)
RoA = 0.65% (Net Income 415b / Total Assets 67482b)
RoE = 11.08% (Net Income TTM 415b / Total Stockholder Equity 3742b)
RoCE = 3.04% (EBIT 602b / Capital Employed (Equity 3742b + L.T.Debt 16082b))
RoIC = 1.02% (NOPAT 434b / Invested Capital 42562b)
WACC = 6.15% (E(4350b)/V(38256b) * Re(9.16%) + D(33906b)/V(38256b) * Rd(8.00%) * (1-Tc(0.28)))
Discount Rate = 9.16% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -83.30 | Cagr: -1.25%
[DCF] Fair Price = unknown (Cash Flow -1197b)
EPS Correlation: -22.89 | EPS CAGR: -36.49% | SUE: 0.36 | # QB: 0
Revenue Correlation: 64.96 | Revenue CAGR: 8.89% | SUE: 0.61 | # QB: 0
EPS current Quarter (2026-12-31): EPS=0.22 | Chg30d=+0.63% | Revisions=+25% | Analysts=1
EPS current Year (2027-03-31): EPS=1.00 | Chg30d=+1.65% | Revisions=+25% | GrowthEPS=+29.3% | GrowthRev=+252.5%
EPS next Year (2028-03-31): EPS=0.96 | Chg30d=-1.68% | Revisions=-25% | GrowthEPS=-3.8% | GrowthRev=+1.2%