Fact based stock research
Nomura (TSE:8604)

JP3762600009

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Nomura stock research in summary

nomuraholdings.com

ANALYSIS: With an Obermatt Combined Rank of 28 (worse than 72% compared with investment alternatives), Nomura (Investment Banking & Brokerage, Japan) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Nomura are a good value (attractively priced) with a consolidated Value Rank of 95 (better than 95% of alternatives) but show below-average growth (Growth Rank of 16), and are riskily financed (Safety Rank of 16), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 28, is a hold recommendation based on Nomura's financial characteristics. As the company Nomura's key financial metrics exhibit good value (Obermatt Value Rank of 95) but low growth (Obermatt Growth Rank of 16) and risky financing practices (Obermatt Safety Rank of 16), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 95% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	95
Growth Rank	16
Safety Rank	16
Combined Rank	28

Country	Japan
Industry	Investment Banking & Brokerage
Index	TOPIX 100, Nikkei 225
Size class	XX-Large

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Nomura

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	85	70	81	95
GROWTH
GROWTH	13	87	55	16
SAFETY
SAFETY	14	14	13	16
SENTIMENT
SENTIMENT	12	6	29	^new
360° VIEW
360° VIEW	3	33	41	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Nomura is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	85	70	81	95
GROWTH
GROWTH	13	87	55	16
SAFETY
SAFETY	14	14	13	16
COMBINED
COMBINED	12	69	52	28

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Nomura the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 95 (better than 95% compared with alternatives) for 2025, Nomura shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Nomura. Price-to-Sales is 74 which means that the stock price compared with what market professionals expect for future sales is lower than for 74% of comparable companies, indicating a good value for Nomura's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 77% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 87. Compared with other companies in the same industry, dividend yields of Nomura are expected to be higher than for 74% of all competitors (a Dividend Yield rank of 74). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 95, is a buy recommendation based on Nomura's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Nomura based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	85	74	80	74
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	91	47	66	77
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	95	97	73	87
DIVIDEND YIELD
DIVIDEND YIELD	30	39	58	74
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	85	70	81	95

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Nomura; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 16 (better than 16% compared with alternatives), Nomura shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below average for Nomura. Sales Growth has a below market rank of 10, which means that, currently, professionals expect the company to grow less than 90% of its competitors. The same is valid for Capital Growth, with a rank of 27, and Profit Growth, with a rank of 19. Currently, professionals expect the company to grow its profits less than 81% of its competitors). Only shareholders are optimistic. Stock Returns are above average at a rank of 53, which means that the stock returns have recently been above 53% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 16, is a sell recommendation for growth and momentum investors. That picture may be the result for a company that has reached the bottom. All went south for Nomura, and it still looks bad, but some investors already see light at the end of the tunnel, rewarding the stock with recent above-market stock returns. It could also mean that investors are correcting an overreaction to negative news. If that were the case, the positive stock returns are not yet a sign of recovery. Investors should look closely at the Value and Sentiment indicators before they make a stock purchasing decision, because growth is unlikely to be the driving argument behind this investment. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is low here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	30	44	6	10
PROFIT GROWTH
PROFIT GROWTH	37	84	96	19
CAPITAL GROWTH
CAPITAL GROWTH	27	55	38	27
STOCK RETURNS
STOCK RETURNS	29	89	65	53
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	13	87	55	16

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Nomura.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 16 (better than 16% compared with alternatives), the company Nomura has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Nomura is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Nomura and the other two below average. Refinancing is at 93, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 93% of its competitors. But Leverage is high with a rank of 5, meaning the company has an above-average debt-to-equity ratio. It has more debt than 95% of its competitors. Liquidity is also on the riskier side with a rank of 7, meaning the company generates less profit to service its debt than 93% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 16 (worse than 84% compared with alternatives), Nomura has a financing structure that is significantly riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Nomura are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Nomura and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	3	5	1	5
REFINANCING
REFINANCING	97	95	85	93
LIQUIDITY
LIQUIDITY	1	4	7	7
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	14	14	13	16

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Nomura and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	7	32	^new
OPINIONS CHANGE
OPINIONS CHANGE	69	50	72	^new
PRO HOLDINGS
PRO HOLDINGS	41	20	35	^new
MARKET PULSE
MARKET PULSE	6	31	20	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	12	6	29	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Nomura.
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