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Nomura Research Institute, Ltd. 4307.T

JP · Tokyo Stock Exchange · XTKS · stock · Technology · website

Nomura Research Institute, Ltd. statistics & valuation

Market cap¥2.87T
P / E188.4×
P / S3.5×
P / B6.6×
P / FCF28.4×
Net margin1.9%
FCF margin12.4%
Net debt¥103.5B
Enterprise value USD$18.8B
Earnings yield EBIT/EV1.9%
Return on capital8.3%
Graham number -86.7%¥679.90

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (¥679.90); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
11.00% 10.80% 12.30% 1.90% 2023202420252026
Gross margin (%)
34.60% 35.40% 36.00% 36.80% 2023202420252026
Operating margin (%)
16.10% 16.20% 17.50% 7.00% 2023202420252026
Return on equity (%)
19.10% 19.90% 21.60% 3.50% 2023202420252026
Shares outstanding
560.1M 560.1M 560.1M 560.1M 2023202420252026
Net debt (¥)
¥108.49B ¥124.60B ¥102.43B ¥103.51B 2023202420252026
Share buybacks (¥)
¥20.16B ¥68.43B ¥30.31B ¥0 2023202420252026
Return on assets (%)
9.10% 8.60% 10.10% 1.60% 2023202420252026
Free cash flow margin (%)
9.30% 12.60% 10.50% 12.40% 2023202420252026
Debt / equity (×)
0.60× 0.75× 0.62× 0.54× 2023202420252026
EPS (¥)
¥128.88 ¥136.84 ¥163.56 ¥26.52 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Nomura Research Institute, Ltd. trades at about 193.5× earnings — above its 10-year norm (10-year range 26.5×–156.2×, median 33×).

26.5× 193.5×

Shaded band = 10-year range (26.5×–156.2×); dot = today's 193.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin36.8%36.0%35.4%34.6%
Operating margin7.0%17.5%16.2%16.1%
Net margin1.9%12.3%10.8%11.0%
FCF margin12.4%10.5%12.6%9.3%
Return on assets1.6%10.1%8.6%9.1%
Return on equity3.5%21.6%19.9%19.1%
Debt / equity0.44×0.48×0.64×0.46×
Current ratio1.841.751.891.76

Computed from company filings · JP · as of 2026-03-31. Figures in JPY. Facts plus Stocktoria's own computed scores — not investment advice.