Nomura Holdings Inc ADR (NMR) Fair Value & Analysis
Financial Services · US · Market cap $26.2B · ISIN US65535H2085
What is Nomura Holdings Inc ADR really worth?
Nomura Holdings Inc ADR
NMR · US
Below-average quality, currently priced close to our fair value of $9.99.
Strengths
Risks
For context
Fair value as of: Aug 31, 2026
From 6 valuation models · updated 5 days ago
Fair value updated Aug 31, 2026, revised from $10.15 to $9.99 (−1.6%) since Aug 27, 2026. Share price +9.0% over the past month.
What runs behind every stock
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What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.
How to read this chart
60‑month range $2.57 – $10.62 · fair‑value band $7.49 – $12.48 · the $10.62 price screens above the $9.99 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 31, 2026.
Analysis
Nomura Holdings Inc ADR (NMR) currently trades at $10.62, while our model-based Fair Value estimate is $9.99, implying the stock looks roughly 6.3% fairly valued today. The Quality Score stands at 40/100 (below-average quality), in the Financial Services sector. How firm this estimate is: it rests on 16 models at a data quality of 96/100, which puts the evidence level at medium.
Over the trailing twelve months, Nomura Holdings Inc ADR generated revenue of $2.2T at a net margin of 16.7%. Revenue grew 27.5% year over year. It earns a return on equity of 10.1%. Net debt stands at $13.0T. Fundamentals as of Aug 31, 2026
Our scenario range runs from $7.49 (bear case) to $12.48 (bull case); at $10.62, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 79% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at −6%, NMR screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Multiples ($1,611) versus Asset-Based ($849.91). Highest evidence: Residual Income (70).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 86
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Nomura Holdings, Inc. engages in the provision of investment, financing, and related services to individual, institutional, and government clients worldwide. It operates through three segments: Wealth Management, Investment Management, and Wholesale. The Wealth Management segment offers asset management services.
Full company description
Nomura Holdings, Inc. engages in the provision of investment, financing, and related services to individual, institutional, and government clients worldwide. It operates through three segments: Wealth Management, Investment Management, and Wholesale. The Wealth Management segment offers asset management services. The Investment Management segment provides investment management services and investment solutions, such as establishing and managing investment trusts, discretionary investment services, investment and management for investment vehicles, funds for institutional investors, and management of silent partnerships. The Wholesale segment is involved in the sales and trading of debt and equity securities, foreign exchange; offers investment banking services, including underwriting and distribution of debt and equity securities, mergers and acquisitions, and financial advisory services. Nomura Holdings, Inc. was incorporated in 1925 and is headquartered in Tokyo, Japan.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Nomura Holdings Inc ADR reported revenue of $4.8T in FY2026 versus $1.4T in FY2022, a compound +36.4%/yr. Reported net income was $362B in FY2026, compounding +26.1%/yr from FY2022.
of which total revenue +11.7 % · buybacks/dilution +2.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Nomura (NMR) is on the Move, Here's Why the Trend Could be Sustainable
- Bank of Canada Set to Strike Balanced Tone Next Week, Avoiding Policy Direction Amid US Tariff Trade War, Says Nomura
- Japan ends 4-year crypto approval freeze with Nomura-backed Laser Digital
- Recent Price Trend in Nomura (NMR) is Your Friend, Here's Why
Peer Group
Capital Markets · 453 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Capital Markets median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Capital Markets stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Morgan Stanley, a financial holding company, MS | $214.77 | $138.97 | −35% |
| The Goldman Sachs Group GS | $1,034 | $756.89 | −27% |
| The Charles Schwab Corporation SCHW | $110.16 | $66.17 | −40% |
| Robinhood Markets, Inc HOOD | $104.26 | $30.94 | −70% |
| Macquarie Group MQG | A$251.87 | A$75.58 | −70% |
| CITIC Securities Company 600030 | ¥27.93 | ¥17.68 | −37% |
| Guotai Haitong Securities Co 601211 | ¥17.87 | ¥18.62 | +4% |
| East Money Information Co 300059 | ¥19.42 | ¥4.77 | −75% |
| CSC Financial Co 601066 | ¥25.78 | ¥14.17 | −45% |
| Huatai Securities Co 601688 | ¥19.56 | ¥19.26 | −2% |
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