Nomura Holdings Future Growth

Future criteria checks 0/6

Nomura Holdings's earnings are forecast to decline at 1.9% per annum while its annual revenue is expected to grow at 0.7% per year. EPS is expected to grow by 0.8% per annum. Return on equity is forecast to be 8.7% in 3 years.

Key information

-1.9%

Earnings growth rate

0.84%

EPS growth rate

Capital Markets earnings growth	0.5%
Revenue growth rate	0.7%
Future return on equity	8.67%
Analyst coverage	Good
Last updated	30 Oct 2025

Recent future growth updates

Nomura Holdings, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Oct 31

Nomura Holdings, Inc. Just Beat Revenue By 20%: Here's What Analysts Think Will Happen Next

Aug 01

Recent updates

Nomura Holdings, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Oct 31

Nomura Holdings, Inc. Just Beat Revenue By 20%: Here's What Analysts Think Will Happen Next

Aug 01

Nomura Holdings (TSE:8604) Is Due To Pay A Dividend Of ¥24.00

Jul 21

Lacklustre Performance Is Driving Nomura Holdings, Inc.'s (TSE:8604) Low P/E

May 24

Should You Be Adding Nomura Holdings (TSE:8604) To Your Watchlist Today?

Apr 17

Nomura Holdings' (TSE:8604) Upcoming Dividend Will Be Larger Than Last Year's

Mar 19

Nomura Holdings' (TSE:8604) Upcoming Dividend Will Be Larger Than Last Year's

Mar 05

Nomura Holdings (TSE:8604) Has Announced That It Will Be Increasing Its Dividend To ¥33.00

Feb 08

Diversification And Operational Efficiency Propel Revenue And Margin Growth In Financial Markets

Nov 10 Diversification across business lines and regions is enhancing revenue growth and stability, positively impacting future earnings and margins.

Earnings and Revenue Growth Forecasts

TSE:8604 - Analysts future estimates and past financials data (JPY Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
3/31/2028	1,936,376	337,081	N/A	N/A	5
3/31/2027	1,892,229	321,494	N/A	N/A	6
3/31/2026	1,927,196	322,583	N/A	N/A	3
9/30/2025	1,993,493	370,054	N/A	N/A	N/A
6/30/2025	1,961,358	376,363	N/A	N/A	N/A
3/31/2025	1,892,485	340,736	-868,582	-678,611	N/A
12/31/2024	1,884,852	325,516	N/A	N/A	N/A
9/30/2024	1,783,096	274,625	-607,329	-430,559	N/A
6/30/2024	1,667,529	211,470	N/A	N/A	N/A
3/31/2024	1,562,000	165,863	-13,144	132,640	N/A
12/31/2023	1,441,831	116,488	997,681	1,141,810	N/A
9/30/2023	1,435,264	132,882	-8,788	159,208	N/A
6/30/2023	1,382,462	114,421	-416,056	-246,690	N/A
3/31/2023	1,335,577	92,786	-865,985	-694,820	N/A
12/31/2022	1,344,428	116,374	-1,615,183	-1,431,595	N/A
9/30/2022	1,301,735	109,763	-2,152,096	-2,036,639	N/A
6/30/2022	1,302,643	96,205	-1,341,295	-1,245,466	N/A
3/31/2022	1,363,890	142,996	-974,163	-862,832	N/A
12/31/2021	1,200,141	-43,375	-1,050,068	-935,655	N/A
9/30/2021	1,251,268	-5,342	-269,121	-149,208	N/A
6/30/2021	1,301,400	59,087	-395,526	-254,187	N/A
3/31/2021	1,408,872	153,116	547,735	667,610	N/A
12/31/2020	1,467,307	274,049	130,269	232,076	N/A
9/30/2020	1,400,193	232,749	669,865	839,404	N/A
6/30/2020	1,414,575	303,681	66,873	241,646	N/A
3/31/2020	1,285,829	216,998	-301,454	-94,709	N/A
12/31/2019	1,344,613	252,317	190,622	498,872	N/A
9/30/2019	1,270,232	99,975	-770,776	-502,377	N/A
6/30/2019	1,169,774	-49,832	N/A	-151,713	N/A
3/31/2019	1,109,770	-100,442	N/A	-361,165	N/A
12/31/2018	1,204,553	-78,611	N/A	-345,365	N/A
9/30/2018	1,350,572	104,627	N/A	-24,805	N/A
6/30/2018	1,419,143	167,710	N/A	-25,264	N/A
3/31/2018	1,507,969	219,343	N/A	-445,690	N/A
12/31/2017	1,462,009	257,934	N/A	-339,487	N/A
9/30/2017	1,424,038	240,318	N/A	-497,122	N/A
6/30/2017	1,419,540	249,648	N/A	981,666	N/A
3/31/2017	1,397,197	239,617	N/A	1,304,994	N/A
12/31/2016	1,327,266	159,198	N/A	1,660,491	N/A
9/30/2016	1,313,520	124,254	N/A	1,933,368	N/A
6/30/2016	1,297,129	109,633	N/A	437,810	N/A
3/31/2016	1,388,681	131,550	N/A	1,238,372	N/A
12/31/2015	1,544,044	232,717	N/A	763,667	N/A
9/30/2015	1,614,141	267,354	N/A	686,420	N/A
6/30/2015	1,651,370	273,667	N/A	482,967	N/A
3/31/2015	1,597,176	224,785	N/A	-77,028	N/A
12/31/2014	1,569,605	204,027	N/A	-256,818	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 8604's earnings are forecast to decline over the next 3 years (-1.9% per year).

Earnings vs Market: 8604's earnings are forecast to decline over the next 3 years (-1.9% per year).

High Growth Earnings: 8604's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 8604's revenue (0.7% per year) is forecast to grow slower than the JP market (4.5% per year).

High Growth Revenue: 8604's revenue (0.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 8604's Return on Equity is forecast to be low in 3 years time (8.7%).

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/10/31 06:57
End of Day Share Price	2025/10/31 00:00
Earnings	2025/09/30
Annual Earnings	2025/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Nomura Holdings, Inc. is covered by 21 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Azuma Ohno	Barclays
Natsumu Tsujino	BofA Global Research
Koichi Niwa	Citigroup Inc

Nomura Holdings Future Growth

Future criteria checks 0/6

Key information

Recent future growth updates

Nomura Holdings, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Nomura Holdings, Inc. Just Beat Revenue By 20%: Here's What Analysts Think Will Happen Next

Price target increased by 10% to JP¥901

Consensus EPS estimates increase by 20%

Price target increased by 14% to JP¥808

Price target increased by 9.0% to JP¥709

Recent updates

Nomura Holdings, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For This Year

Second quarter 2026 earnings: EPS and revenues exceed analyst expectations

Nomura Holdings, Inc. Declares Dividend for the Half Year of Fiscal 2025/2026, Payable on December 1, 2025

Nomura Holdings' (TSE:8604) Dividend Will Be ¥24.00

Upcoming dividend of JP¥24.00 per share

Nomura Holdings (TSE:8604) Is Due To Pay A Dividend Of ¥24.00

Nomura Holdings' (TSE:8604) Dividend Will Be ¥24.00

Nomura Holdings (TSE:8604) Is Due To Pay A Dividend Of ¥24.00

Nomura Holdings, Inc. Just Beat Revenue By 20%: Here's What Analysts Think Will Happen Next

First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind

Nomura Holdings (TSE:8604) Is Due To Pay A Dividend Of ¥24.00

Final dividend of JP¥24.00 announced

New major risk - Revenue and earnings growth

Full year 2025 earnings: EPS and revenues exceed analyst expectations

Nomura Holdings, Inc. Appoints Hiroyuki Moriuchi as Chief Financial Officer

Nomura Holdings, Inc. to Report Q1, 2026 Results on Jul 29, 2025

Lacklustre Performance Is Driving Nomura Holdings, Inc.'s (TSE:8604) Low P/E

Full year 2025 earnings: EPS and revenues exceed analyst expectations

Nomura Holdings, Inc., Annual General Meeting, Jun 24, 2025

Should You Be Adding Nomura Holdings (TSE:8604) To Your Watchlist Today?

New minor risk - Share price stability

Investor sentiment deteriorates as stock falls 16%

Upcoming dividend of JP¥33.00 per share

Nomura Holdings' (TSE:8604) Upcoming Dividend Will Be Larger Than Last Year's

Nomura Holdings, Inc. to Report Q4, 2025 Results on Apr 25, 2025

Nomura Holdings' (TSE:8604) Upcoming Dividend Will Be Larger Than Last Year's

Nomura Appoints Ong Kin Yok as MD and Team Head

Nomura Holdings, Inc. Approves Commemorative Dividend, Payable on June 2, 2025

Nomura Holdings (TSE:8604) Has Announced That It Will Be Increasing Its Dividend To ¥33.00

Dividend increased to JP¥33.00

Third quarter 2025 earnings: EPS and revenues exceed analyst expectations

Nomura Holdings Names Sudhir Nemali as Managing Director and Chief Operating Officer of Its International Wealth Management Division

Nomura Holdings, Inc. to Report Q3, 2025 Results on Feb 05, 2025

TVS Credit Reportedly to Make A Bid for Avendus Capital

Novo Holdings A/S completed the acquisition of Catalent, Inc. (NYSE:CTLT) from a group of shareholders.

Diversification And Operational Efficiency Propel Revenue And Margin Growth In Financial Markets

Investor sentiment improves as stock rises 17%

Nomura Holdings, Inc. (TSE:8604), ITOCHU Corporation (TSE:8001) and Mitsubishi UFJ Financial Group, Inc. (TSE:8306) agreed to acquire unknown minority stake in Teamshares Inc.

Second quarter 2025 earnings released: EPS: JP¥33.30 (vs JP¥11.61 in 2Q 2024)

Nomura Holdings, Inc. Declares Dividend for the Half Year of Fiscal 2024/25, Payable on December 2, 2024

Nomura Holdings and Mizuho Financial Group Reportedly Leading Bidders for Avendus Capital

Upcoming dividend of JP¥8.00 per share

Nomura Holdings, Inc. to Report Q2, 2025 Results on Nov 01, 2024

Nomura Reportedly Enters the Race to Acquire Avendus

Investor sentiment deteriorates as stock falls 20%

New minor risk - Share price stability

First quarter 2025 earnings released: EPS: JP¥23.33 (vs JP¥7.71 in 1Q 2024)

Now 23% undervalued after recent price drop

Final dividend of JP¥8.00 announced

Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Nomura Holdings, Inc. to Report Q1, 2025 Results on Jul 30, 2024

Price target increased by 10% to JP¥901

Consensus EPS estimates increase by 20%

Nomura Holdings, Inc., Annual General Meeting, Jun 25, 2024

Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Nomura Holdings, Inc. Declares Dividend, Payable on June 3, 2024

Nomura Holdings, Inc. to Report Q4, 2024 Results on Apr 26, 2024

Upcoming dividend of JP¥9.00 per share

Nomurara, Inc Appoints Hemish Shah as Head of Flow Rates for Europe, the Middle East, and Africa

Price target increased by 14% to JP¥808

Dividend of JP¥9.00 announced

New major risk - Financial position

Price target increased by 9.0% to JP¥709

Novo Holdings A/S entered into an agreement to acquire Catalent, Inc. (NYSE:CTLT) from Elliott Investment Management L.P. and other for $11.7 million.

Third quarter 2024 earnings released: EPS: JP¥16.76 (vs JP¥22.30 in 3Q 2023)

Price target increased by 8.4% to JP¥668

Nomura Holdings, Inc. (TSE:8604) announces an Equity Buyback for 125,000,000 shares, representing 4.15% for ¥100,000 million.

Nomura Appoints Mouloud Ameni as Head of Flow Credit Ceemea

Global Hydrogen Energy LLC completed the acquisition of Dune Acquisition Corporation (NasdaqCM:DUNE) from Dune Acquisition Holdings LLC and others in a reverse merger transaction.