NMR
Financial ServicesNomura Holdings, Inc. · Financial - Capital Markets · $24B
What is Nomura Holdings, Inc.?
Nomura Holdings is one of Asia's largest integrated financial services groups, headquartered in Tokyo and serving clients across retail, institutional, and wholesale markets worldwide. The firm operates across more than a dozen countries and territories.
Nomura generates revenue through three core segments. Its Retail arm distributes financial products and investment services through a nationwide branch network in Japan. The Investment Management segment manages funds and provides advisory services. The Wholesale segment handles trading, underwriting, and advisory work for institutional clients globally — covering equities, fixed income, structured products, and mergers-and-acquisitions advisory.
Nomura Holdings was incorporated in its current holding-company structure in 2001 and is headquartered in Tokyo, Japan.
- Retail brokerage and wealth management services
- Investment trust and fund management
- Institutional sales, trading, and market-making
- Underwriting and M&A advisory
Is NMR a Good Stock to Buy?
UQS Score rates NMR as Poor overall, reflecting weak readings across nearly all five pillars.
Among the five pillars, Valuation is the lone area that registers as Neutral rather than outright Weak — meaning the stock is not obviously expensive relative to its fundamentals, even if those fundamentals themselves are challenged.
Quality, Moat, Growth, and Risk all score Weak, signaling persistent concerns around earnings consistency, competitive positioning, business expansion, and balance-sheet or operational risk.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does NMR pay dividends?
Yes — Nomura Holdings, Inc. pays a dividend.
Nomura Holdings pays a regular dividend, consistent with the practice of large Japanese financial institutions that return capital to shareholders. The dividend reflects the company's mature, large-cap profile rather than aggressive reinvestment. Income-focused investors should weigh the payout against the firm's Weak Quality and Risk pillar ratings before relying on dividend sustainability.
When does NMR report earnings?
Nomura Holdings reports earnings on a quarterly cadence, as is standard for internationally listed financial-services companies.
The firm's Weak Growth and Quality pillar ratings suggest earnings have not demonstrated consistent expansion or strong profitability trends in recent periods. Wholesale revenue in particular can be volatile, driven by market conditions and client activity levels.
For the most recent quarter's results and guidance, visit Nomura Holdings' official investor relations page.
NMR Price History
+80.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Nomura Holdings, Inc.?
Based on Nomura Holdings, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
NMR Long-term Outlook
The combination of Weak Growth and Weak Risk pillar ratings points to a cautious fundamental outlook. Nomura faces headwinds from competitive pressure in its home market, ongoing restructuring in its global wholesale business, and sensitivity to capital-markets volatility. The Neutral Valuation reading suggests the market has already priced in much of the difficulty, but a meaningful re-rating would likely require sustained improvement in profitability and risk management.
Growth drivers
- Potential recovery in global capital-markets activity boosting Wholesale revenues
- Expansion of fee-based Investment Management assets in Japan and Asia
- Gradual wealth accumulation among Japan's aging retail investor base
Key risks
- Persistent weakness in core profitability metrics across segments
- Exposure to market volatility and credit events in the Wholesale book
- Competitive pressure from domestic and international financial institutions
NMR vs Peers
Nomura operates in a broad financial-services landscape that includes electronic trading platforms, independent broker-dealers, and tech-driven brokerage firms.
Tradeweb focuses on electronic fixed-income and derivatives trading, giving it a technology-driven model that differs sharply from Nomura's full-service, relationship-based wholesale approach.
LPL Financial operates as an independent broker-dealer network in the US, concentrating on advisor-driven wealth management rather than institutional trading or investment banking.
Futu is a digital brokerage targeting retail investors in Asia through a mobile-first platform, competing with Nomura's retail segment on convenience and low-cost execution.
Frequently Asked Questions
What does Nomura Holdings do?
Nomura Holdings is a Japanese financial services group offering retail brokerage, investment management, and wholesale banking services. Its clients range from individual investors in Japan to corporations, governments, and institutional investors worldwide. The firm earns revenue through commissions, trading, asset management fees, and advisory mandates.
Does NMR pay dividends?
Yes, Nomura Holdings pays a regular dividend. This is consistent with the capital-return practices of large Japanese financial institutions. Investors should review the current payout alongside the company's Weak Quality and Risk pillar scores to assess sustainability. Check Nomura's investor relations page for the latest declared amounts and payment schedule.
When does NMR report earnings?
Nomura Holdings reports on a quarterly cadence. Because our data source does not cover specific upcoming dates, visit the company's investor relations page for the current earnings calendar and the most recent quarterly results.
Is NMR a good stock to buy?
UQS Score rates NMR as Poor, driven by Weak readings across Quality, Moat, Growth, and Risk. The Valuation pillar is Neutral, meaning the stock is not obviously overpriced, but weak fundamentals limit the investment case. Investors should review the full pillar breakdown before drawing conclusions.
Is NMR overvalued?
The UQS Valuation pillar for NMR is rated Neutral, suggesting the stock is neither clearly expensive nor a deep-value opportunity relative to its fundamentals. Given the Weak scores across other pillars, a low price alone may not be sufficient to offset underlying business challenges.
How does NMR compare to its competitors?
Compared to peers like Tradeweb, LPL Financial, and Futu Holdings, Nomura offers a broader but more traditional full-service model spanning retail, asset management, and wholesale banking. Technology-focused competitors tend to carry leaner cost structures, while Nomura's global wholesale franchise adds complexity and risk exposure.
What is NMR's market cap bracket?
Nomura Holdings is classified as a large-cap stock, reflecting its status as one of Asia's largest integrated financial services groups. Large-cap classification generally implies greater liquidity and institutional coverage, though size alone does not indicate quality or growth potential.
Who founded Nomura Holdings?
Nomura's origins trace back to the founding of Nomura Securities in 1925 by Tokushichi Nomura II in Osaka, Japan. The current holding-company structure, Nomura Holdings, Inc., was established in 2001. Full historical context is available through the company's official corporate history resources.
Is NMR a long-term quality investment?
As a long-term quality indicator, NMR's Poor UQS Score — with Weak ratings across Quality, Moat, Growth, and Risk — raises meaningful questions about durable competitive advantage and earnings consistency. Long-term investors typically look for stronger pillar profiles before committing capital over an extended horizon. The full analysis is available to Pro members.
What sector does NMR belong to?
Nomura Holdings belongs to the Financial Services sector. Within that sector, it spans multiple sub-industries including retail brokerage, asset management, investment banking, and fixed-income trading — making it one of the more diversified names in the space, though diversification has not translated into strong pillar scores.
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Pro Analysis
NMR — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 12, 2026 | 29.0 | 27.8 | 22.0 | 24.2 | 4.9 | 73.3 | -4.3 |
| May 8, 2026 | 33.3 | 13.1 | 22.0 | 47.7 | 0.0 | 100.0 | +3.6 |
| May 7, 2026 | 29.7 | 28.2 | 22.0 | 38.4 | 4.5 | 58.7 | -0.2 |
| Apr 26, 2026 | 29.9 | 28.2 | 22.0 | 38.4 | 4.5 | 60.0 | +0.6 |
| Apr 19, 2026 | 29.3 | 28.2 | 22.0 | 38.4 | 4.5 | 55.7 | -0.2 |
| Apr 18, 2026 | 29.5 | 28.2 | 22.0 | 38.4 | 4.5 | 57.0 | -5.7 |
| Apr 14, 2026 | 35.2 | 28.2 | 22.0 | 38.4 | 4.5 | 95.0 | -0.1 |
| Apr 13, 2026 | 35.3 | 28.2 | 22.0 | 38.4 | 4.5 | 95.7 | +0.1 |
| Apr 12, 2026 | 35.2 | 28.2 | 22.0 | 38.4 | 4.5 | 95.5 | -0.6 |
| Apr 10, 2026 | 35.8 | 28.2 | 22.0 | 38.4 | 4.5 | 99.0 | 0.0 |
NMR — Pillar Breakdown
Quality
— 27.8/100 (25%)Nomura Holdings, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 24.2/100 (20%)Nomura Holdings, Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 4.9/100 (15%)Nomura Holdings, Inc. presents elevated risk with concerns around leverage or financial stability.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 73.3/100 (15%)Nomura Holdings, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 22/100 (25%)Nomura Holdings, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for NMR.
Score Composition
Financial Data
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How is the NMR UQS Score Calculated?
The UQS (Unified Quality Score) for Nomura Holdings, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Nomura Holdings, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Nomura Holdings, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.