Nomura Research Institute, Ltd.

TSE:4307 Stock Report

Market Cap: JP¥2.6t

Nomura Research Institute Valuation

Is 4307 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 4307 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 4307 (¥4485) is trading above our estimate of fair value (¥3651.58)

Significantly Below Fair Value: 4307 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 4307?

Key metric: As 4307 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 4307. This is calculated by dividing 4307's market cap by their current earnings.
What is 4307's PE Ratio?
PE Ratio29.2x
EarningsJP¥87.63b
Market CapJP¥2.59t

Price to Earnings Ratio vs Peers

How does 4307's PE Ratio compare to its peers?

The above table shows the PE ratio for 4307 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average28.5x
4684 OBICLtd
35.4x7.6%JP¥2.2t
6701 NEC
21.9x12.7%JP¥3.3t
4768 Otsuka
27.6x6.7%JP¥1.4t
9613 NTT DATA Group
29x12.6%JP¥3.9t
4307 Nomura Research Institute
29.2x8.2%JP¥2.6t

Price-To-Earnings vs Peers: 4307 is expensive based on its Price-To-Earnings Ratio (29.2x) compared to the peer average (28.5x).

Price to Earnings Ratio vs Industry

How does 4307's PE Ratio compare vs other companies in the JP IT Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
4307 29.2xIndustry Avg. 17.6xNo. of Companies30PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 4307 is expensive based on its Price-To-Earnings Ratio (29.2x) compared to the JP IT industry average (17.6x).

Price to Earnings Ratio vs Fair Ratio

What is 4307's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

4307 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio29.2x
Fair PE Ratio35x

Price-To-Earnings vs Fair Ratio: 4307 is good value based on its Price-To-Earnings Ratio (29.2x) compared to the estimated Fair Price-To-Earnings Ratio (35x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 4307 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentJP¥4,485.00
JP¥4,966.67
+10.7%
7.0%JP¥5,500.00JP¥4,400.00n/a12
Nov ’25JP¥4,493.00
JP¥4,975.00
+10.7%
8.1%JP¥5,500.00JP¥4,400.00n/a12
Oct ’25JP¥5,283.00
JP¥4,897.69
-7.3%
6.8%JP¥5,400.00JP¥4,400.00n/a13
Sep ’25JP¥4,910.00
JP¥4,820.77
-1.8%
8.0%JP¥5,400.00JP¥4,000.00n/a13
Aug ’25JP¥4,647.00
JP¥4,751.54
+2.2%
7.1%JP¥5,300.00JP¥4,000.00n/a13
Jul ’25JP¥4,551.00
JP¥4,678.46
+2.8%
7.9%JP¥5,100.00JP¥3,850.00n/a13
Jun ’25JP¥4,204.00
JP¥4,732.50
+12.6%
7.6%JP¥5,100.00JP¥3,850.00n/a12
May ’25JP¥3,916.00
JP¥4,724.62
+20.6%
6.9%JP¥5,100.00JP¥3,850.00n/a13
Apr ’25JP¥4,206.00
JP¥4,680.83
+11.3%
7.8%JP¥5,100.00JP¥3,800.00n/a12
Mar ’25JP¥4,220.00
JP¥4,680.83
+10.9%
7.8%JP¥5,100.00JP¥3,800.00n/a12
Feb ’25JP¥4,225.00
JP¥4,614.17
+9.2%
8.0%JP¥5,100.00JP¥3,800.00n/a12
Jan ’25JP¥4,101.00
JP¥4,480.83
+9.3%
6.7%JP¥4,900.00JP¥3,800.00n/a12
Dec ’24JP¥4,145.00
JP¥4,405.38
+6.3%
8.8%JP¥4,900.00JP¥3,500.00n/a13
Nov ’24JP¥4,090.00
JP¥4,386.43
+7.2%
8.3%JP¥4,900.00JP¥3,500.00JP¥4,493.0014
Oct ’24JP¥3,893.00
JP¥4,429.29
+13.8%
8.4%JP¥4,900.00JP¥3,500.00JP¥5,283.0014
Sep ’24JP¥4,185.00
JP¥4,311.33
+3.0%
8.4%JP¥4,700.00JP¥3,500.00JP¥4,910.0015
Aug ’24JP¥4,100.00
JP¥4,185.00
+2.1%
11.7%JP¥4,700.00JP¥2,800.00JP¥4,647.0016
Jul ’24JP¥3,961.00
JP¥4,026.88
+1.7%
11.0%JP¥4,700.00JP¥2,800.00JP¥4,551.0016
Jun ’24JP¥3,610.00
JP¥3,983.13
+10.3%
10.8%JP¥4,600.00JP¥2,800.00JP¥4,204.0016
May ’24JP¥3,385.00
JP¥3,924.38
+15.9%
12.6%JP¥4,900.00JP¥2,600.00JP¥3,916.0016
Apr ’24JP¥3,065.00
JP¥3,928.75
+28.2%
12.5%JP¥4,900.00JP¥2,600.00JP¥4,206.0016
Mar ’24JP¥3,030.00
JP¥4,038.75
+33.3%
13.3%JP¥5,000.00JP¥2,600.00JP¥4,220.0016
Feb ’24JP¥3,090.00
JP¥4,169.38
+34.9%
10.0%JP¥5,000.00JP¥3,400.00JP¥4,225.0016
Jan ’24JP¥3,115.00
JP¥4,225.63
+35.7%
9.7%JP¥5,000.00JP¥3,400.00JP¥4,101.0016
Dec ’23JP¥3,015.00
JP¥4,269.38
+41.6%
10.5%JP¥5,000.00JP¥3,400.00JP¥4,145.0016
Nov ’23JP¥3,300.00
JP¥4,507.06
+36.6%
9.6%JP¥5,150.00JP¥3,700.00JP¥4,090.0017

Analyst Forecast: Target price is less than 20% higher than the current share price.

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