Key Drivers
- Strong margins
- Heavy leverage
- Weak cash flow
AIAI Summary
Nomura should be viewed as a leverage-sensitive turnaround rather than a simple cheap bank: record profits and improving Japan-related growth support upside, but negative free cash flow, weak cash conversion, and 15.3x equity leverage mean investors should wait for proof that Macquarie integration is fading and earnings are turning into durable cash before expecting a rerating.
Price Chart
Financial Metrics
Deep Analysis
Research tool. Not personalized advice.
Fundamental Analysis
Key Financial Insights:
- •Strong margins
- •Heavy leverage
- •Weak cash flow
NMR shows solid earnings profitability and a low earnings multiple, but its highly leveraged balance sheet, weak cash flow, and poor asset efficiency limit the investment case. ക ക
Price Behavior
Key Price Behavior Insights:
- •Support Holding
- •Lower Highs
- •Base Building
Over the last month, NMR has rebounded from support near $7.76-$7.90 but remains below resistance at $8.27-$8.32, keeping the short-term trend mixed to slightly bearish.
Quick rebound from $7.77 on 2026-05-04 to $8.16 on 2026-05-06 shows buyers can still spark sharp bounces
Sentiment & News
Key News Insights:
- •Record profits
- •Valuation discount
- •Integration costs
Nomura posted record annual profit for a second straight year, but the stock focus remains on its discount to peers and near-term pressure from Macquarie integration costs despite solid growth in asset management and banking.
The news is modestly positive for fundamentals but likely keeps the instrument trading as a valuation-driven story until integration costs ease and growth momentum translates into clearer earnings upside
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