Nomura Holdings, Inc. (NMR)
Financial Services · NYQ · US
Fundamentals
Valuation and ratings
Nomura Holdings, Inc. trades at USD9.79, close to the USD10.99 our discounted cash flow model puts on the business. On this measure the market and the model broadly agree, so the interesting question is which of them is wrong.
Our moat model scores it 63 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 13.0 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About Nomura Holdings, Inc.
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.
NMR passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is Nomura Holdings, Inc. (NMR) undervalued?
Against our discounted cash flow estimate of USD10.99, NMR at USD9.79 is 12% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is NMR's P/E ratio?
NMR trades at 13.0 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.