Nomura Research Institute - Public Comps and Valuation Multiples

Nomura Research Institute Overview

About Nomura Research Institute

Nomura Research Institute Ltd offers IT services, consulting, and research to support business decisions. The company operates through four segments. The Consulting segment provides policy advocacy, business planning, reform support, and system consulting for IT management. The Financial IT Solutions segment offers consulting, development, operation, shared-use systems, and BPO services for securities, insurance, and banking clients. The IT Infrastructure Services segment manages data centers, builds IT platforms and networks, provides security solutions, and researches new IT businesses and technologies. The Industrial IT Solutions segment delivers consulting, development, and operation services for distribution, manufacturing, services, and the public sector.

Founded

1965

HQ

Employees

21.6K+

Website

nri.com

Sectors

IT Consulting
Business Consulting
Service Providers

Financials

LTM Revenue $5.2B

LTM EBITDA $1.3B

EV

$21.1B

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Nomura Research Institute Financials

As of September 2025, Nomura Research Institute reported last 12-month revenue of $5.2B and EBITDA of $1.3B.

In the same period, Nomura Research Institute generated $1.9B in LTM gross profit and $660M in net income.

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Nomura Research Institute P&L

In the most recent fiscal year, Nomura Research Institute reported revenue of $5.0B and EBITDA of $1.2B.

Nomura Research Institute expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$5.2B	XXX	$5.0B	XXX	XXX	XXX
Gross Profit	$1.9B	XXX	$1.8B	XXX	XXX	XXX
Gross Margin	37%	XXX	36%	XXX	XXX	XXX
EBITDA	$1.3B	XXX	$1.2B	XXX	XXX	XXX
EBITDA Margin	25%	XXX	25%	XXX	XXX	XXX
EBIT	$953M	XXX	$879M	XXX	XXX	XXX
EBIT Margin	18%	XXX	18%	XXX	XXX	XXX
Net Profit	$660M	XXX	$615M	XXX	XXX	XXX
Net Margin	13%	XXX	12%	XXX	XXX	XXX
Net Debt	XXX	XXX	$507M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Nomura Research Institute including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $5.2B. EBITDA for the last twelve months was $1.3B. In the most recent fiscal year, Nomura Research Institute achieved $5.0B in revenue and $1.2B in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$5.2B	Analyst estimates available to subscribers	$5.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$1.9B	Analyst estimates available to subscribers	$1.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	36.9% gross margin	Analyst estimates available to subscribers	36.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.3B	Analyst estimates available to subscribers	$1.2B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	24.5% EBITDA margin	Analyst estimates available to subscribers	24.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$953M	Analyst estimates available to subscribers	$879M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	18.4% EBIT margin	Analyst estimates available to subscribers	17.5% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$660M	Analyst estimates available to subscribers	$615M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	12.7% net profit margin	Analyst estimates available to subscribers	12.3% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$507M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Nomura Research Institute

This financial data table provides comprehensive performance metrics for Nomura Research Institute, a company based in Japan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Nomura Research Institute generated $5.2B in revenue over the last twelve months.
The company achieved $1.3B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $1.9B.
Net income over the last twelve months reached $660M.

Fiscal Year Performance

In the most recent fiscal year, Nomura Research Institute reported $5.0B in total revenue.
Fiscal year EBITDA was $1.2B.
The company maintained a gross profit margin of 36.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 24.7%.
Net profit margin reached 12.3% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Nomura Research Institute. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Nomura Research Institute Stock Performance

Nomura Research Institute has current market cap of JPY 3.14T (or $20.6B), and EV of JPY 3.21T (or $21.1B).

Market Cap Evolution

Nomura Research Institute Stock Data

As of October 16, 2025, Nomura Research Institute's stock price is JPY 5495 (or $36).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$21.1B	$20.6B	XXX	XXX	XXX	XXX	$1.15

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Nomura Research Institute Valuation Multiples

Nomura Research Institute's trades at 4.2x EV/Revenue multiple, and 17.4x EV/EBITDA.

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Nomura Research Institute Financial Valuation Multiples

As of October 16, 2025, Nomura Research Institute has market cap of $20.6B and EV of $21.1B.

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 31.3x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$20.6B	XXX	$20.6B	XXX	XXX	XXX
EV (current)	$21.1B	XXX	$21.1B	XXX	XXX	XXX
EV/Revenue	4.1x	XXX	4.2x	XXX	XXX	XXX
EV/EBITDA	16.6x	XXX	17.4x	XXX	XXX	XXX
EV/EBIT	22.1x	XXX	24.6x	XXX	XXX	XXX
EV/Gross Profit	11.0x	XXX	n/a	XXX	XXX	XXX
P/E	31.3x	XXX	34.8x	XXX	XXX	XXX
EV/FCF	39.0x	XXX	38.4x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Nomura Research Institute Margins & Growth Rates

Nomura Research Institute's last 12 month revenue growth is 6%

Nomura Research Institute's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $43K for the same period.

Nomura Research Institute's rule of 40 is 30% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Nomura Research Institute's rule of X is 40% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Nomura Research Institute Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	6%	XXX	6%	XXX	XXX	XXX
EBITDA Margin	25%	XXX	24%	XXX	XXX	XXX
EBITDA Growth	9%	XXX	8%	XXX	XXX	XXX
Rule of 40	30%	XXX	30%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	40%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$43K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	18%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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