NomuraNOMURA Co.,Ltd.9716東証プライムサービス業FY ending Feb 2026, consolidated, J-GAAP

Nomura revenue and profit

Out of every ¥100 of sales, about ¥8 is left as operating profit. Revenue changed +8.3% from the prior year, operating profit +44.1%.

Five-year trend

Revenue¥162.7B
FY ending Feb 2022: ¥111.1B¥111.1BFY ending Feb 2023: ¥110.9B¥110.9BFY ending Feb 2024: ¥134.1B¥134.1BFY ending Feb 2025: ¥150.3B¥150.3BFY ending Feb 2026: ¥162.7B¥162.7BFY22FY23FY24FY25FY26
Operating income¥12.8B
FY ending Feb 2022: ¥5.43B¥5.43BFY ending Feb 2023: ¥3.11B¥3.11BFY ending Feb 2024: ¥5.21B¥5.21BFY ending Feb 2025: ¥8.9B¥8.9BFY ending Feb 2026: ¥12.8B¥12.8BFY22FY23FY24FY25FY26
Operating margin7.9%
FY ending Feb 2022: 4.9%4.9%FY ending Feb 2023: 2.8%2.8%FY ending Feb 2024: 3.9%3.9%FY ending Feb 2025: 5.9%5.9%FY ending Feb 2026: 7.9%7.9%FY22FY23FY24FY25FY26

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin5.6%
Asset turnover1.64×
ROA9.2%
ROA9.2%
Financial leverage1.77×
ROE16.4%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin5.6%
2022: 3.6%3.6%2023: 2.0%2.0%2024: 2.9%2.9%2025: 4.5%4.5%2026: 5.6%5.6%2223242526
Asset turnover1.64×
2022: 1.41×1.41×2023: 1.40×1.40×2024: 1.62×1.62×2025: 1.59×1.59×2026: 1.64×1.64×2223242526
ROA9.2%
2022: 5.0%5.0%2023: 2.8%2.8%2024: 4.7%4.7%2025: 7.1%7.1%2026: 9.2%9.2%2223242526
Financial leverage1.77×
2022: 1.63×1.63×2023: 1.64×1.64×2024: 1.71×1.71×2025: 1.85×1.85×2026: 1.77×1.77×2223242526
ROE16.4%
2022: 8.2%8.2%2023: 4.6%4.6%2024: 7.9%7.9%2025: 13.2%13.2%2026: 16.4%16.4%2223242526
PeriodNet marginAsset turnoverROAFinancial leverageROE
20223.6%1.41×5.0%1.63×8.2%
20232.0%1.40×2.8%1.64×4.6%
20242.9%1.62×4.7%1.71×7.9%
20254.5%1.59×7.1%1.85×13.2%
20265.6%1.64×9.2%1.77×16.4%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue4.9%
2021: 7.1%7.1%2022: 6.6%6.6%2023: 6.8%6.8%2024: 5.6%5.6%2025: 5.0%5.0%2026: 4.9%4.9%212223242526
PPE ÷ total assets8.3%
2021: 9.3%9.3%2022: 9.3%9.3%2023: 9.5%9.5%2024: 8.7%8.7%2025: 7.4%7.4%2026: 8.3%8.3%212223242526
Goodwill ÷ parent equity—
2021: 0.1%0.1%2022: 0.1%0.1%212223242526
Goodwill balance—
2021: ¥50M¥50M2022: ¥25M¥25M212223242526

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

R&D spending¥180M
2023: ¥129M¥129M2024: ¥164M¥164M2025: ¥148M¥148M2026: ¥180M¥180M212223242526
R&D / revenue0.1%
2023: 0.1%0.1%2024: 0.1%0.1%2025: 0.1%0.1%2026: 0.1%0.1%212223242526
Cash conversion cycle—
2021: 45d45d2022: 29d29d212223242526
Receivable days—
2021: 71d71d2022: 64d64d212223242526
Inventory days3d
2021: 40d40d2022: 29d29d2023: 4d4d2024: 3d3d2025: 4d4d2026: 3d3d212223242526
Payable days34d
2021: 65d65d2022: 64d64d2023: 72d72d2024: 67d67d2025: 90d90d2026: 34d34d212223242526

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Feb 2022FY ending Feb 2023FY ending Feb 2024FY ending Feb 2025FY ending Feb 2026
Revenue111,081110,928134,138150,256162,679
Cost of revenue90,38592,573111,854122,878129,909
Gross profit20,69518,35522,28327,37832,769
SG&A15,26315,24117,07018,48019,950
Operating income5,4313,1135,2138,89712,818
Pretax income5,9623,2405,4219,31012,876
Income tax1,9831,0111,5582,5523,742
Net income attributable to owners3,9842,2293,8626,7579,134
Operating margin4.9%2.8%3.9%5.9%7.9%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 40%
1%
8%
1%
4%
Other assets 46%

Funding

Trade payables 13%
Other liabilities 22%
Equity 65%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Feb 2022FY ending Feb 2023FY ending Feb 2024FY ending Feb 2025FY ending Feb 2026
Cash and equivalents¥37.1B¥29.5B¥32.6B¥31.3B¥37.6B
Total assets¥79B¥79.1B¥86.7B¥102.5B¥95.3B
Net assets¥48.7B¥49B¥50.3B¥54.3B¥62B
Share capital¥6.5B¥6.5B¥6.5B¥6.5B¥6.5B
Trade receivables¥19.5B————
Inventories¥7.22B¥1B¥955M¥1.19B¥1.07B
Property, plant and equipment¥7.35B¥7.51B¥7.54B¥7.58B¥7.89B
Intangible assets excluding goodwill¥2.67B¥2.2B¥1.64B¥1.06B¥639M
Goodwill¥25M————
Investment securities¥2.02B¥3.03B¥2.99B¥2.5B¥4.02B
Current assets¥64.9B¥64.7B¥72B¥88.4B¥79.3B
Current liabilities¥25.1B¥25B¥31.3B¥43.2B¥28.7B
Trade payables¥15.9B¥18.3B¥20.6B¥30.3B¥12B
Total liabilities¥30.3B¥30.1B¥36.4B¥48.2B¥33.3B
Equity attributable to owners of parent¥48.4B¥48B¥49.2B¥53B¥58.6B
Retained earnings¥36B¥35.7B¥36.8B¥40.5B¥46.1B
Treasury stock-¥1.08B-¥1.07B-¥1.07B-¥1.05B-¥1.05B

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第89期(2025/03/01-2026/02/28)

    ID S100Y66D2026-05-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第88期(2024/03/01-2025/02/28)

    ID S100VSO42025-05-22Open
  • EDINET (FSA Japan)

    有価証券報告書-第87期(2023/03/01-2024/02/29)

    ID S100THC52024-05-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第86期(2022/03/01-2023/02/28)

    ID S100QTK72023-05-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第85期(令和3年3月1日-令和4年2月28日)

    ID S100O4CQ2022-05-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第84期(令和2年3月1日-令和3年2月28日)

    ID S100LENE2021-05-27Open

Extracted from XBRL: 50 / Derived from other figures: 1

Spotted an error? Report it (corrections keep the original record)

Analyze this page with AI

Markdown with figures, units, periods and sources, ready to paste into ChatGPT or Claude.