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Nomura Research Institute Overview
About Nomura Research Institute
NRI was formed in 1988 through the merger of the original Nomura Research Institute and Nomura Computer Systems. Its core financial IT solutions segment (roughly half of revenue) acts as a de facto utility for Japan’s capital markets, running shared back-office platforms for major brokerages and banks. The industrial IT solutions segment builds supply chain and enterprise resource planning systems for retailers and manufacturers. These are supported by IT platform services (data centers) and a consulting business that originates digital transformation projects. Nomura Holdings, the parent of Nomura Securities, remains NRI’s largest shareholder with a 20% stake.
Founded
1965
HQ
Employees
21.6K
Website
Financials (LTM)
EV
$18B
Nomura Research Institute Financials
Nomura Research Institute reported last 12-month revenue of $5B and EBITDA of $1B.
In the same LTM period, Nomura Research Institute generated $2B in gross profit, $1B in EBITDA, and $654M in net income.
Revenue (LTM)
Nomura Research Institute P&L
In the most recent fiscal year, Nomura Research Institute reported revenue of $5B and EBITDA of $1B.
Nomura Research Institute expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $5B | XXX | $5B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 38% | XXX | 33% | XXX | XXX | XXX |
| EBITDA | $1B | XXX | $1B | XXX | XXX | XXX |
| EBITDA Margin | 24% | XXX | 24% | XXX | XXX | XXX |
| EBIT Margin | 18% | XXX | 18% | XXX | XXX | XXX |
| Net Profit | $654M | XXX | $651M | XXX | XXX | XXX |
| Net Margin | 13% | XXX | 12% | XXX | XXX | XXX |
| Net Debt | — | — | $488M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Nomura Research Institute Stock Performance
Nomura Research Institute has current market cap of $18B, and enterprise value of $18B.
Market Cap Evolution
Nomura Research Institute's stock price is $30.80.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $18B | $18B | 0.3% | XXX | XXX | XXX | $1.14 |
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Start Free TrialNomura Research Institute Valuation Multiples
Nomura Research Institute trades at 3.5x EV/Revenue multiple, and 14.4x EV/EBITDA.
EV / Revenue (LTM)
Nomura Research Institute Financial Valuation Multiples
As of April 19, 2026, Nomura Research Institute has market cap of $18B and EV of $18B.
Equity research analysts estimate Nomura Research Institute's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Nomura Research Institute has a P/E ratio of 27.0x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $18B | XXX | $18B | XXX | XXX | XXX |
| EV (current) | $18B | XXX | $18B | XXX | XXX | XXX |
| EV/Revenue | 3.5x | XXX | 3.4x | XXX | XXX | XXX |
| EV/EBITDA | 14.4x | XXX | 14.1x | XXX | XXX | XXX |
| EV/EBIT | 19.1x | XXX | 19.3x | XXX | XXX | XXX |
| EV/Gross Profit | 9.2x | XXX | 10.4x | XXX | XXX | XXX |
| P/E | 27.0x | XXX | 27.1x | XXX | XXX | XXX |
| EV/FCF | 33.2x | XXX | 32.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Nomura Research Institute Valuation Multiples
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Nomura Research Institute Margins & Growth Rates
Nomura Research Institute's revenue in the last 12 month grew by 5%.
Nomura Research Institute's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.0M for the same period.
Nomura Research Institute's rule of 40 is 31% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Nomura Research Institute's rule of X is 39% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Nomura Research Institute Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 5% | XXX | (3%) | XXX | XXX | XXX |
| EBITDA Margin | 24% | XXX | 24% | XXX | XXX | XXX |
| EBITDA Growth | 14% | XXX | (2%) | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 31% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 39% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.0M | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 17% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 17% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Nomura Research Institute Public Comps
See public comps and valuation multiples for other Business Consulting and IT Consulting comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Nomura Research Institute | XXX | XXX | XXX | XXX | XXX | XXX |
| TD Synnex | XXX | XXX | XXX | XXX | XXX | XXX |
| CDW | XXX | XXX | XXX | XXX | XXX | XXX |
| CGI | XXX | XXX | XXX | XXX | XXX | XXX |
| Leidos | XXX | XXX | XXX | XXX | XXX | XXX |
| Bureau Veritas | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Nomura Research Institute M&A Activity
Nomura Research Institute acquired XXX companies to date.
Last acquisition by Nomura Research Institute was on XXXXXXXX, XXXXX. Nomura Research Institute acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Nomura Research Institute
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialNomura Research Institute Investment Activity
Nomura Research Institute invested in XXX companies to date.
Nomura Research Institute made its latest investment on XXXXXXXX, XXXXX. Nomura Research Institute invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Nomura Research Institute
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Nomura Research Institute
| When was Nomura Research Institute founded? | Nomura Research Institute was founded in 1965. |
| Where is Nomura Research Institute headquartered? | Nomura Research Institute is headquartered in Japan. |
| How many employees does Nomura Research Institute have? | As of today, Nomura Research Institute has over 21K employees. |
| Who is the CEO of Nomura Research Institute? | Nomura Research Institute's CEO is Kaga Yanagisawa. |
| Is Nomura Research Institute publicly listed? | Yes, Nomura Research Institute is a public company listed on Tokyo Stock Exchange. |
| What is the stock symbol of Nomura Research Institute? | Nomura Research Institute trades under 4307 ticker. |
| When did Nomura Research Institute go public? | Nomura Research Institute went public in 2001. |
| Who are competitors of Nomura Research Institute? | Nomura Research Institute main competitors are TD Synnex, CDW, CGI, Leidos. |
| What is the current market cap of Nomura Research Institute? | Nomura Research Institute's current market cap is $18B. |
| What is the current revenue of Nomura Research Institute? | Nomura Research Institute's last 12 months revenue is $5B. |
| What is the current revenue growth of Nomura Research Institute? | Nomura Research Institute revenue growth (NTM/LTM) is 5%. |
| What is the current EV/Revenue multiple of Nomura Research Institute? | Current revenue multiple of Nomura Research Institute is 3.5x. |
| Is Nomura Research Institute profitable? | Yes, Nomura Research Institute is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Nomura Research Institute? | Nomura Research Institute's last 12 months EBITDA is $1B. |
| What is Nomura Research Institute's EBITDA margin? | Nomura Research Institute's last 12 months EBITDA margin is 24%. |
| What is the current EV/EBITDA multiple of Nomura Research Institute? | Current EBITDA multiple of Nomura Research Institute is 14.4x. |
| What is the current FCF of Nomura Research Institute? | Nomura Research Institute's last 12 months FCF is $546M. |
| What is Nomura Research Institute's FCF margin? | Nomura Research Institute's last 12 months FCF margin is 11%. |
| What is the current EV/FCF multiple of Nomura Research Institute? | Current FCF multiple of Nomura Research Institute is 33.2x. |
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