Nomura Holdings Future Growth

Future criteria checks 0/6

Nomura Holdings's revenue and earnings are forecast to decline at 2.3% and 6.9% per annum respectively. EPS is expected to decline by 5.1% per annum. Return on equity is forecast to be 7.5% in 3 years.

Key information

-6.9%

Earnings growth rate

-5.1%

EPS growth rate

Capital Markets earnings growth	13.0%
Revenue growth rate	-2.3%
Future return on equity	7.5%
Analyst coverage	Good
Last updated	01 May 2025

Recent future growth updates

No updates

Recent updates

Nomura: Wealth Management Business And Overseas Markets Are Key Growth Engines

Jul 03

Nomura: Positive On Americas Growth Plans And Potential Results Beat

Apr 21

Nomura: Above-Expectations Results And New Buyback Plan Were Positive Surprises (Rating Upgrade)

Feb 01

Sixteen Wall Street firms agree to pay $1.1B to settle SEC's texting/email probe

Sep 27

Nomura Holdings: Focus On Performance, Valuations And ROE Target

Aug 17

Nomura Holdings GAAP EPS of ¥0.52, revenue of ¥299B

Aug 03

Nomura Holdings: Volatile Shareholder Returns To Continue

Mar 29

Earnings and Revenue Growth Forecasts

NYSE:NMR - Analysts future estimates and past financials data (JPY Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
3/31/2028	1,772,050	282,600	N/A	N/A	2
3/31/2027	1,797,060	293,041	N/A	N/A	7
3/31/2026	1,732,100	292,576	N/A	N/A	3
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	-432,960	-151,713	N/A
3/31/2019	1,109,770	-100,442	-680,255	-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
9/30/2014	1,524,030	182,317	N/A	84,326	N/A
6/30/2014	1,514,587	167,557	N/A	416,642	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NMR's earnings are forecast to decline over the next 3 years (-6.9% per year).

Earnings vs Market: NMR's earnings are forecast to decline over the next 3 years (-6.9% per year).

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

Revenue vs Market: NMR's revenue is expected to decline over the next 3 years (-2.3% per year).

High Growth Revenue: NMR's revenue is forecast to decline over the next 3 years (-2.3% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NMR's Return on Equity is forecast to be low in 3 years time (7.5%).

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/11 22:00
End of Day Share Price	2025/05/09 00:00
Earnings	2025/03/31
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 26 analysts. 7 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
Siti Bte Salikin	CFRA Equity Research

Nomura Holdings Future Growth

Future criteria checks 0/6

Key information

Recent future growth updates

Recent updates

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

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

Nomura Appoints Ong Kin Yok as MD and Team Head

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

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.

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.

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

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

Nomura Reportedly Enters the Race to Acquire Avendus

Nomura: Wealth Management Business And Overseas Markets Are Key Growth Engines

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

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

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

Nomura: Positive On Americas Growth Plans And Potential Results Beat

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

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.

Nomura: Above-Expectations Results And New Buyback Plan Were Positive Surprises (Rating Upgrade)

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.

Nomura Holdings, Inc. to Report Q3, 2024 Results on Jan 31, 2024

Talos Trading, Inc. acquired Laser Digital Group Holdings AG from Nomura Holdings, Inc. (TSE:8604).

Nomura Appoints Ruchir Sharma as Global Head of Forex Options Trading

Nomura Holdings: Too Early To Be Bullish

Nomura Holdings, Inc. Declares Dividend, Payable on December 1, 2023

Nomura Holdings, Inc. to Report Q2, 2024 Results on Oct 27, 2023

Laser Digital Asset Management Launches Bitcoin Adoption Fund for Institutional Investors

Nomura Holdings: ROE Improvement Is Still A Work-In-Progress

Nomura Holdings, Inc. Approves Board Elections

Nomura Holdings, Inc. to Report Q1, 2024 Results on Aug 01, 2023

Nomura Holdings, Inc. entered into an agreement to acquire securities business of LINE Securities Corporation.

Nomura: Investment Banking Relatively Resilient, But Sours The Picture

Global Hydrogen Energy LLC entered into a definitive agreement to acquire Dune Acquisition Corporation (NasdaqCM:DUNE) from Dune Acquisition Holdings LLC and others for $57.5 million in a reverse merger transaction.

Nomura's crypto unit takes stake in DeFi protocol Infinity Exchange

Nomura Loses On Low BoJ Rates In Retail, But Not In Investment Banking

Nomura Holdings, Inc. to Report Q3, 2023 Results on Feb 01, 2023

Nomura Holdings GAAP EPS of ¥5.41, revenue of ¥317.96B