Last 46 quarters of trend data · Financial Services · Financial - Capital Markets
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Nomura Holdings, Inc.'s quarterly P/E stands at 0.1x, up 43.5% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has compressed 8.9% YoY to 45.7x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 12.16 | 0.06 | 0.05 | 0.07 | 0.04 | 0.04 | 0.06 | 0.09 | 0.07 | 0.09 | 0.13 | 0.41 | 0.04 |
| — | +43.5% | -25.4% | -25.9% | -37.5% | -54.9% | -50.1% | -78.4% | +60.7% | -41.1% | -98.3% | +287.2% | -23.2% | |
| P/S Ratio | 0.88 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| — | +43.9% | +19.8% | +3.8% | +13.7% | +3.3% | +8.6% | +6.7% | -14.2% | -36.1% | -52.2% | -48.2% | -56.3% | |
| P/B Ratio | 1.14 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| — | +26.4% | +12.6% | -9.8% | +14.7% | +25.2% | +39.0% | +55.8% | +15.5% | +18.3% | +0.5% | -12.2% | -23.4% | |
| P/FCF | — | — | — | — | — | — | — | — | 0.01 | — | 0.01 | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 28.24 | 45.70 | 38.90 | 66.12 | 48.20 | 50.14 | 71.86 | 59.77 | 71.73 | 93.10 | 97.90 | 143.59 | 58.30 |
| — | -8.9% | -45.9% | +10.6% | -32.8% | -46.1% | -26.6% | -58.4% | +23.0% | -25.7% | -52.8% | +89.7% | +5.4% | |
| EV / EBIT | 31.82 | 45.70 | 38.90 | 66.12 | 48.20 | 50.14 | 71.86 | 70.11 | 85.75 | 117.77 | 129.59 | 238.47 | 69.51 |
| — | -8.9% | -45.9% | -5.7% | -43.8% | -57.4% | -44.6% | -70.6% | +23.4% | -36.8% | -72.6% | +143.2% | +5.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Nomura Holdings, Inc.'s operating margin was 12.3% in Q2 2026, down 2.2 pp QoQ and up 1.1 pp YoY. Gross margin expanded 15.2% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.6% | 42.0% | 43.0% | 36.2% | 39.7% | 36.5% | 35.0% | 33.3% | 35.0% | 34.1% | 36.8% | 36.0% | 48.8% |
| — | +15.2% | +23.0% | +8.7% | +13.5% | +7.1% | -5.0% | -7.5% | -28.4% | -40.5% | -48.1% | -56.5% | -43.3% | |
| Operating Margin | 11.3% | 12.3% | 14.4% | 10.0% | 12.0% | 11.1% | 8.8% | 8.5% | 7.5% | 5.8% | 5.4% | 3.3% | 11.3% |
| — | +10.1% | +64.5% | +17.6% | +59.2% | +92.1% | +63.2% | +159.8% | -33.4% | -6.9% | +74.7% | -75.1% | -46.5% | |
| Net Margin | 7.6% | 8.3% | 9.4% | 7.3% | 8.8% | 8.2% | 5.9% | 5.2% | 4.8% | 3.6% | 2.7% | 1.1% | 9.0% |
| — | +0.3% | +60.2% | +40.5% | +81.9% | +128.8% | +116.9% | +392.6% | -46.6% | +8.6% | +508.8% | -87.0% | -43.1% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.7% | 2.6% | 2.9% | 2.0% | 2.9% | 2.8% | 2.0% | 1.7% | 1.5% | 1.0% | 0.7% | 0.2% | 2.1% |
| — | -9.5% | +48.3% | +19.0% | +91.1% | +169.6% | +176.9% | +626.0% | -27.9% | +98.3% | +1175.0% | -78.3% | -1.9% | |
| ROA | 0.6% | 0.2% | 0.2% | 0.1% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | 0.1% |
| — | -7.4% | +51.7% | +18.8% | +86.3% | +155.6% | +158.1% | +579.6% | -30.5% | +96.7% | +1156.8% | -78.3% | -2.5% | |
| ROIC | 1.4% | 0.3% | 0.3% | 0.2% | 0.3% | 0.3% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.2% |
| — | +7.0% | +60.0% | +4.7% | +72.4% | +115.8% | +91.4% | +248.1% | -17.6% | +62.7% | +258.7% | -58.4% | -7.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Nomura Holdings, Inc.'s Debt/EBITDA ratio is 232.6x, up from 193.2x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 406.2% YoY to 1.09x, strengthening the short-term liquidity position.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.49 | 8.81 | 8.63 | 8.75 | 8.77 | 9.55 | 9.38 | 8.98 | 9.55 | 9.37 | 8.59 | 8.11 | 8.54 |
| — | -7.8% | -8.0% | -2.5% | -8.2% | +2.0% | +9.1% | +10.7% | +11.8% | +8.5% | +1.5% | +2.7% | -1.7% | |
| Debt / EBITDA | 28.45 | 232.63 | 193.22 | 320.70 | 232.97 | 243.97 | 324.71 | 286.60 | 341.10 | 440.16 | 469.03 | 694.03 | 274.31 |
| — | -4.6% | -40.5% | +11.9% | -31.7% | -44.6% | -30.8% | -58.7% | +24.3% | -26.1% | -52.4% | +89.7% | +4.6% | |
| Current Ratio | 1.43 | 1.09 | 1.39 | 0.21 | 0.20 | 0.22 | 0.11 | 0.21 | 0.20 | 0.19 | 0.19 | 0.20 | 0.19 |
| — | +406.2% | +1208.7% | +2.4% | -1.7% | +14.2% | -43.6% | +2.3% | +5.3% | -2.1% | +1.0% | -5.4% | +8.1% | |
| Quick Ratio | 1.43 | 1.09 | 1.39 | 0.21 | 0.20 | 0.22 | 0.11 | 0.21 | 0.20 | 0.19 | 0.19 | 0.20 | 0.19 |
| — | +406.2% | +1208.7% | +2.4% | -1.7% | +14.2% | -43.6% | +2.3% | +5.3% | -2.1% | +1.0% | -5.4% | +8.1% | |
| Interest Coverage | 0.21 | 0.21 | 0.25 | 0.16 | 0.20 | 0.18 | 0.13 | 0.13 | 0.12 | 0.09 | 0.09 | 0.05 | 0.22 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 46 years · Updated daily
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Quick answers to the most common questions about buying NMR stock.
Nomura Holdings, Inc.'s current P/E is 12.2x. The average P/E over the last 4 quarters is 0.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Nomura Holdings, Inc.'s current operating margin is 11.3%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Nomura Holdings, Inc.'s business trajectory between earnings reports.