Nomura Holdings, Inc. (NMR) 10-Year Financial Performance & Capital Metrics

NMR • • Banking & Credit

Financial ServicesCapital MarketsInvestment Banking & AdvisoryFull-Service Investment Banks

AboutNomura Holdings, Inc. provides various financial services to individuals, corporations, financial institutions, governments, and governmental agencies worldwide. It operates through three segments: Retail, Investment Management, and Wholesale. The Retail segment offers various financial products and investment services. As of March 31, 2022, this segment operated a network of 119 branches. The Investment Management segment engages in the management of funds, investment trusts, and other investment vehicles; and provision of investment advisory, custodial, and administrative services. The Wholesale segment is involved in the research, sale, trading, agency execution, and market-making of fixed income and equity-related products. It also engages in underwriting various securities and other financial instruments, such as various classes of shares, convertible and exchangeable securities, investment grade and high yield debts, sovereign and emerging market debts, structured securities, and other securities; arranging private placements, as well as other capital raising activities; and the provision of financial advisory services on business transactions comprising mergers and acquisitions, divestitures, spin-offs, capital structuring, corporate defense activities, leveraged buyouts, and risk solutions. In addition, this segment offers various financial instruments. The company was formerly known as The Nomura Securities Co., Ltd. and changed its name to Nomura Holdings, Inc. in October 2001. Nomura Holdings, Inc. was incorporated in 1925 and is headquartered in Tokyo, Japan.Show more

Net Interest Income $83.6B +227.1%
Total Revenue $4506.63B +13.4%
Net Income $340.74B +105.4%
Return on Equity 9.69% +95.0%
Net Interest Margin 0.15% +217.5%
Efficiency Ratio 26.41% -4.9%
ROA 0.61% +88.9%
Equity / Assets 6.3% +0.8%
Book Value per Share 1167.80 +6.5%
Tangible BV/Share 1143.88 +5.5%
Debt/Equity 8.75 -2.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Efficient operations: 26.4% efficiency ratio
✓Momentum leader: RS Rating 84 (top 16%)
✓Share count reduced 2.5% through buybacks
✓Diversified revenue: 35.0% from non-interest income
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 8.8x
✗Weak NIM of 0.1%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.06%

5Y21%

3Y48.58%

TTM-

Profit (Net Income) CAGR

10Y4.25%

5Y9.44%

3Y33.57%

TTM77.97%

EPS CAGR

10Y6.34%

5Y10.9%

3Y34.9%

TTM81.33%

ROCE

10Y Avg1.01%

5Y Avg1.02%

3Y Avg1.32%

Latest2.1%

Peer Comparison

Full-Service Investment Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
GSThe Goldman Sachs Group, Inc.	281.38B	938.15	23.14	17%	11.25%	12.59%	5.06
MSMorgan Stanley	290.46B	182.76	22.99	16.83%	12.98%	14.57%	3.42
JEFJefferies Financial Group Inc.	12.82B	62.12	20.78	41.3%	7.07%	7.12%	1.99
MS-PQMorgan Stanley		26.27	3.30	16.83%	12.98%	14.61%	3.42
SFBStifel Financial Corporation 5.20% Senior Notes due 2047		20.50	3.28	37.64%	12.29%	11.53%	0.37
NMRNomura Holdings, Inc.	27.08B	9.23	0.08	13.42%	7.56%	10.49%	8.75

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Net Interest Income+	112.64B	128.72B	110.49B	58.62B	129.82B	141.1B	54.11B	-36.46B	25.56B	83.6B
NII Growth %	0.02%	0.14%	-0.14%	-0.47%	1.21%	0.09%	-0.62%	-1.67%	1.7%	2.27%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	440.05B	441.04B	585.67B	776.96B	794.47B	356.47B	284.22B	1.11T	2.62T	2.93T
Interest Expense	327.42B	312.32B	475.19B	718.35B	664.65B	215.36B	230.11B	1.15T	2.6T	2.84T
Loan Loss Provision	0	0	0	0	0	0	0	0	0	0
Non-Interest Income+	1.13T	1.15T	1.19T	949.22B	942.98B	1.06T	1.09T	1.18T	1.35T	1.58T
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	1.57T	1.59T	1.77T	1.73T	1.74T	1.41T	1.37T	2.3T	3.97T	4.51T
Revenue Growth %	-0.09%	0.01%	0.12%	-0.03%	0.01%	-0.19%	-0.03%	0.67%	0.73%	0.13%
Non-Interest Expense	1.07T	952.91B	967.45B	1.05T	824.54B	968.11B	917.09B	995.5B	1.1T	1.19T
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	165.16B	322.8B	328.16B	-37.7B	248.26B	230.67B	226.62B	149.47B	273.85B	471.96B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.52%	0.95%	0.02%	-1.11%	7.58%	-0.07%	-0.02%	-0.34%	0.83%	0.72%
Pretax Income+	165.16B	322.8B	328.16B	-37.7B	248.26B	230.67B	226.62B	149.47B	273.85B	471.96B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	22.6B	80.23B	103.87B	57.01B	28.89B	70.27B	80.09B	57.8B	96.63B	124.71B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	131.55B	239.62B	219.34B	-100.44B	217B	153.12B	143B	92.79B	165.86B	340.74B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.41%	0.82%	-0.08%	-1.46%	3.16%	-0.29%	-0.07%	-0.35%	0.79%	1.05%
Net Income (Continuing)	142.56B	242.57B	224.29B	-94.71B	219.37B	160.4B	146.53B	91.68B	177.22B	347.25B
EPS (Diluted)+	35.52	65.65	61.90	-29.90	66.20	48.63	45.23	29.74	52.75	111.03
EPS Growth %	-0.41%	0.85%	-0.06%	-1.48%	3.21%	-0.27%	-0.07%	-0.34%	0.77%	1.1%
EPS (Basic)	36.53	67.29	63.13	-29.90	67.76	50.11	46.68	30.86	54.97	115.30
Diluted Shares Outstanding	3.7B	3.65B	3.54B	3.36B	3.28B	3.15B	3.16B	3.11B	3.14B	3.07B

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	3.9T	2.97T	2.96T	3.26T	3.87T	4.16T	3.64T	4.52T	5.15T	5.51T
Short Term Investments	0	0	0	0	0	0	0	0	0	0
Total Investments+	3.17T	3.49T	10.74T	10.4T	17.83T	16.66T	16.28T	5.19T	6.78T	7.56T
Investments Growth %	0%	0.1%	2.08%	-0.03%	0.72%	-0.07%	-0.02%	-0.68%	0.31%	0.12%
Long-Term Investments	3.17T	3.49T	10.74T	10.4T	17.83T	16.66T	16.28T	5.19T	6.78T	7.56T
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	80.76B	80.41B	78.52B	474M	472M	13.14B	14.41B	17.64B	19.26B	17.2B
Intangible Assets	29.77B	24.41B	20.93B	19.32B	17.31B	15.89B	15.6B	18.56B	19.13B	56.15B
PP&E (Net)	355.51B	349.7B	338.98B	349.37B	440.51B	464.45B	419.05B	464.32B	448.79B	436.45B
Other Assets	32.12T	34.59T	99.45B	5.19T	-5.2T	-5.52T	-15.56B	36.02T	41T	41.52T
Total Current Assets	5.29T	4.29T	23.93T	25T	6.14T	5.41T	5.12T	6.04T	6.86T	7.18T
Total Non-Current Assets	35.8T	38.56T	16.66T	15.97T	13.1T	11.82T	16.73T	41.73T	48.29T	49.62T
Total Assets+	41.09T	42.85T	40.59T	40.97T	44T	42.52T	43.41T	47.77T	55.15T	56.8T
Asset Growth %	-0.02%	0.04%	-0.05%	0.01%	0.07%	-0.03%	0.02%	0.1%	0.15%	0.03%
Return on Assets (ROA)	0%	0.01%	0.01%	-0%	0.01%	0%	0%	0%	0%	0.01%
Accounts Payable	688.2B	1.07T	1.18T	1.23T	1.47T	1.45T	1.52T	1.36T	1.31T	1.38T
Total Debt+	23.46T	25.17T	8.54T	9.18T	10.17T	9.94T	10.9T	26.15T	30.96T	31.35T
Net Debt	19.56T	22.2T	5.58T	5.91T	6.3T	5.78T	6.84T	21.63T	25.81T	25.83T
Long-Term Debt	8.61T	7.53T	7.8T	8.33T	8.49T	8.37T	9.65T	10.73T	12.85T	13.77T
Short-Term Debt	14.86T	17.64T	743.5B	841.76B	1.49T	1.37T	1.05T	15.23T	17.93T	17.41T
Other Liabilities	4.09T	4.05T	-7.8T	-8.33T	-8.69T	-8.57T	3.57T	3.76T	5.5T	5.35T
Total Current Liabilities	25.66T	28.43T	1.92T	2.07T	2.95T	2.82T	2.57T	29.76T	33.08T	33.82T
Total Non-Current Liabilities	12.69T	11.58T	7.8T	8.33T	8.69T	8.57T	13.42T	14.79T	18.62T	19.4T
Total Liabilities	38.35T	40.01T	37.79T	38.29T	41.27T	39.76T	40.44T	44.55T	51.7T	53.22T
Total Equity+	2.74T	2.84T	2.8T	2.68T	2.73T	2.76T	2.97T	3.22T	3.45T	3.58T
Equity Growth %	-0%	0.04%	-0.02%	-0.04%	0.02%	0.01%	0.08%	0.08%	0.07%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.05%	0.09%	0.08%	-0.04%	0.08%	0.06%	0.05%	0.03%	0.05%	0.1%
Book Value per Share	741.28	779.61	790.11	797.96	833.59	875.80	941.15	1035.27	1096.67	1167.80
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	594.49B	594.49B	594.49B	594.49B	594.49B	594.49B	594.49B	594.49B	594.49B	594.49B
Additional Paid-in Capital	692.71B	681.33B	675.28B	687.76B	683.23B	696.12B	697.51B	707.19B	708.78B	704.88B
Retained Earnings	1.52T	1.66T	1.7T	1.49T	1.65T	1.53T	1.61T	1.65T	1.71T	1.87T
Accumulated OCI	44.98B	33.65B	-59.36B	-29.05B	-26.11B	-38.14B	127.97B	318.45B	459.98B	447.81B
Treasury Stock	-148.52B	-182.79B	-157.99B	-108.97B	-243.6B	-91.25B	-112.36B	-118.57B	-118.8B	-143.68B
Preferred Stock	0	0	1.7T	1.49T	0	0	0	0	0	0

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	1.24T	1.3T	-445.69B	-361.17B	-15.94B	665.77B	-862.83B	-694.82B	132.64B	-678.61B
Operating CF Growth %	17.08%	0.05%	-1.34%	0.19%	0.96%	42.76%	-2.3%	0.19%	1.19%	-6.12%
Net Income	142.56B	242.57B	224.29B	-94.71B	219.37B	160.4B	146.53B	91.68B	177.22B	347.25B
Depreciation & Amortization	79.39B	70.93B	71.58B	57.92B	63.58B	63.85B	59.52B	61.42B	61.34B	61.65B
Deferred Taxes	-58.86B	22.53B	60.26B	21.57B	-23.91B	-21.11B	3.11B	6.14B	-312M	11.56B
Other Non-Cash Items	-166.9B	-67.42B	-209.99B	77.49B	-82.41B	-49.41B	-224.94B	-435.61B	-41.01B	-25.47B
Working Capital Changes	1.23T	1.03T	-601.48B	-445.24B	-205.26B	483.8B	-874.99B	-453.66B	-116.11B	-1.11T
Cash from Investing+	-23.71B	-118.05B	-56.17B	-112.5B	216.34B	-139.03B	-593.18B	-233.22B	-887.94B	-848.65B
Purchase of Investments	0	-647M	-61M	-3.28T	-2.36B	-9.18B	-115.21B	-75.5B	-156.93B	-322.45B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	-13.13B	262.91B	-2.48B	-11.15B	0	16.95B	-457M	8.14B
Other Investing	243.3B	105.38B	160.61B	3.2T	414.6B	-43.73B	-572.17B	-304.58B	-761.85B	-498.76B
Cash from Financing+	986.39B	-2.13T	373.17B	761.19B	332.06B	-269.93B	1.11T	1.28T	1.01T	1.68T
Dividends Paid	-82.78B	-42.83B	-70.2B	-47.48B	-58.42B	-76.36B	-70.71B	-57.26B	-60.16B	-112.54B
Share Repurchases	-20B	-61.34B	-109.1B	-51.71B	-150.01B	-11M	-39.65B	-24.73B	-61.03B	-59.01B
Stock Issued	571M	401M	764M	313M	285M	215M	11M	4M	953M	1.41B
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	1000K
Other Financing	1.01T	-1.07T	-13.25B	257.78B	578.85B	420.81B	361.29B	341.89B	116.79B	748.75B
Net Change in Cash+	2.16T	-939.45B	-182.2B	332.26B	505.18B	317.7B	-193.6B	504.44B	478.17B	126.42B
Exchange Rate Effect	-1000K	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K	1000K	-1000K
Cash at Beginning	1.32T	3.48T	2.54T	2.35T	2.69T	3.19T	3.51T	3.32T	3.82T	4.3T
Cash at End	3.48T	2.54T	2.35T	2.69T	3.19T	3.51T	3.32T	3.82T	4.3T	4.43T
Interest Paid	352.28B	307.63B	473.76B	700.86B	677.16B	222.02B	225.68B	1.1T	2.51T	2.88T
Income Taxes Paid	118.58B	47.48B	49.45B	27.2B	55.59B	35.67B	114.62B	94.26B	26.05B	93.92B
Free Cash Flow+	913.65B	992.11B	-730.85B	-680.25B	-222.69B	545.89B	-974.16B	-865.99B	-13.14B	-868.58B
FCF Growth %	4.19%	0.09%	-1.74%	0.07%	0.67%	3.45%	-2.78%	0.11%	0.98%	-65.08%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	4.79%	8.58%	7.77%	-3.67%	8.02%	5.58%	4.99%	2.99%	4.97%	9.69%
Return on Assets (ROA)	0.32%	0.57%	0.53%	-0.25%	0.51%	0.35%	0.33%	0.2%	0.32%	0.61%
Net Interest Margin	0.27%	0.3%	0.27%	0.14%	0.3%	0.33%	0.12%	-0.08%	0.05%	0.15%
Efficiency Ratio	68.53%	60.01%	54.63%	60.57%	47.46%	68.46%	66.75%	43.36%	27.79%	26.41%
Equity / Assets	6.68%	6.64%	6.9%	6.54%	6.21%	6.48%	6.85%	6.75%	6.25%	6.3%
Book Value / Share	741.28	779.61	790.11	797.96	833.59	875.8	941.15	1.04K	1.1K	1.17K
NII Growth	2.07%	14.28%	-14.16%	-46.95%	121.47%	8.69%	-61.65%	-167.38%	170.11%	227.06%
Dividend Payout	62.93%	17.88%	32%	-	26.92%	49.87%	49.45%	61.71%	36.27%	33.03%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Brokerage Commissions	-	-	-	-	-	-	236.35B	190.78B	242.69B	264.51B
Brokerage Commissions Growth	-	-	-	-	-	-	-	-19.28%	27.21%	8.99%
Other Commissions	-	-	-	-	-	-	52.3B	58.81B	65.17B	76.39B
Other Commissions Growth	-	-	-	-	-	-	-	12.46%	10.81%	17.22%
Fund Unit Distribution Fees	-	-	-	-	-	-	43.7B	-	-	-
Fund Unit Distribution Fees Growth	-	-	-	-	-	-	-	-	-	-
Stock Brokerage Commissions	-	-	-	-	-	262.29B	-	-	-	-
Stock Brokerage Commissions Growth	-	-	-	-	-	-	-	-	-	-
Commissions For Distributing Of Investment Trusts	-	-	-	-	-	68.79B	-	-	-	-
Commissions For Distributing Of Investment Trusts Growth	-	-	-	-	-	-	-	-	-	-
Other Brokerage Commissions	-	-	-	-	-	45.82B	-	-	-	-
Other Brokerage Commissions Growth	-	-	-	-	-	-	-	-	-	-
Wholesale	148.96B	174.38B	127.86B	58.9B	142.42B	-	-	-	-	-
Wholesale Growth	-	17.07%	-26.68%	-53.93%	141.78%	-	-	-	-	-
Asset Management	4.39B	9.4B	8.79B	8.24B	7.42B	-	-	-	-	-
Asset Management Growth	-	113.92%	-6.49%	-6.30%	-9.99%	-	-	-	-	-
Retail	5.69B	4.93B	6.61B	7.74B	6.38B	-	-	-	-	-
Retail Growth	-	-13.28%	34.11%	17.00%	-17.59%	-	-	-	-	-
All Other And Eliminations	-46.4B	-59.99B	-32.78B	-16.26B	-26.39B	-	-	-	-	-
All Other And Eliminations Growth	-	-29.30%	45.37%	50.38%	-62.26%	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
JAPAN	951.32B	912.86B	992.12B	768.04B	900.51B	965.21B	857.85B	812.75B	782.96B	865.99B
JAPAN Growth	-	-4.04%	8.68%	-22.59%	17.25%	7.18%	-11.12%	-5.26%	-3.67%	10.60%
Americas	219.86B	263.59B	268.65B	169.58B	229.26B	226.74B	289.57B	290.04B	453.07B	589.12B
Americas Growth	-	19.89%	1.92%	-36.88%	35.19%	-1.10%	27.71%	0.16%	56.21%	30.03%
Europe	145.81B	159.47B	168.19B	131.18B	115.48B	142.94B	131.39B	163.98B	269.29B	375.65B
Europe Growth	-	9.37%	5.46%	-22.01%	-11.96%	23.78%	-8.08%	24.80%	64.23%	39.49%
Asia Pacific	78.7B	67.28B	68.01B	47.98B	42.57B	66.98B	85.08B	68.82B	56.68B	61.73B
Asia Pacific Growth	-	-14.51%	1.09%	-29.46%	-11.27%	57.35%	27.02%	-19.12%	-17.63%	8.90%

Frequently Asked Questions

Valuation & Price

Nomura Holdings, Inc. (NMR) has a price-to-earnings (P/E) ratio of 0.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Nomura Holdings, Inc. (NMR) grew revenue by 13.4% over the past year. This is steady growth.

Yes, Nomura Holdings, Inc. (NMR) is profitable, generating $376.36B in net income for fiscal year 2025 (7.6% net margin).

Dividend & Returns

Yes, Nomura Holdings, Inc. (NMR) pays a dividend with a yield of 100.00%. This makes it attractive for income-focused investors.

Nomura Holdings, Inc. (NMR) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.

Industry Metrics

Nomura Holdings, Inc. (NMR) has a net interest margin (NIM) of 0.1%. NIM has been under pressure due to interest rate environment.

Nomura Holdings, Inc. (NMR) has an efficiency ratio of 26.4%. This is excellent, indicating strong cost control.

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