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Nomura Research InstituteTSE:4307 -1.30%83 Cyclically Adjusted PB Ratio is 6.92 as of Aug. 05, 2026, which is 5% above its 10-year median of 6.56. GuruFocus rates TSE:4307 with a GF Score™ of 83/100 and a GF Value™ of 円5,213.35 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,568 Software companies, Nomura Research Institute ranks worse than 83.74% on this metric.
The historical rank and industry rank for Nomura Research Institute's Cyclically Adjusted PB Ratio or its related term are showing as below:
TSE:4307'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.9 Med: 6.56 Max: 9.84
Current: 7.01
During the past years, Nomura Research Institute's highest Cyclically Adjusted PB Ratio was 9.84. The lowest was 2.90. And the median was 6.56.
TSE:4307's Cyclically Adjusted PB Ratio is ranked worse than 83.74% of 1568
companies
in the Software industry
Industry Median: 2.23
vs TSE:4307: 7.01
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Nomura Research Institute's adjusted book value per share data for the three months ended in Jun. 2026 was 円667.190. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is 円668.41 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Nomura Research Institute (TSE:4307) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Nomura Research Institute Cyclically Adjusted PB Ratio Related Terms
Nomura Research Institute Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Nomura Research Institute's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Nomura Research Institute Cyclically Adjusted PB Ratio Chart
TSE:4307 vs IBM, ACN, FISV: Cyclically Adjusted PB Ratio Comparison
For the Information Technology Services subindustry, Nomura Research Institute's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Nomura Research Institute Cyclically Adjusted PB Ratio vs Software Industry
For the Software industry and Technology sector, Nomura Research Institute's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Nomura Research Institute's Cyclically Adjusted PB Ratio falls into.
Nomura Research Institute Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 6.92 mean?
Nomura Research Institute (TSE:4307) has a Cyclically Adjusted PB Ratio of 6.92 as of Aug. 05, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Nomura Research Institute and its competitors. This is near median its historical median of 6.56. Over the past decade, Nomura Research Institute's Cyclically Adjusted PB Ratio has ranged from 2.90 to 9.84. According to the industry distribution chart, Nomura Research Institute ranks #1313 out of 1568 companies in the Software industry, placing it in the top 83.7%.
Is Nomura Research Institute's Cyclically Adjusted PB Ratio too high?
Nomura Research Institute's current Cyclically Adjusted PB Ratio of 6.92 is near median its 10-year median of 6.56. Over the past 10 years, this metric has ranged from a low of 2.90 to a high of 9.84. The Software industry median Cyclically Adjusted PB Ratio is 2.23. Nomura Research Institute's value of 6.92 is 210.3% above this industry median. Based on the distribution chart, Nomura Research Institute ranks #1313 out of 1568 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Nomura Research Institute has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nomura Research Institute's Cyclically Adjusted PB Ratio compare to IBM and ACN?
According to the Software industry distribution chart, Nomura Research Institute ranks #1313 out of 1568 companies for Cyclically Adjusted PB Ratio. This places Nomura Research Institute in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.23. Nomura Research Institute's value of 6.92 is 210.3% above this benchmark. Historically, Nomura Research Institute's own Cyclically Adjusted PB Ratio has ranged from 2.90 to 9.84 over the past decade. While the company's 10-year median is 6.56 vs. the industry median of 2.23, Nomura Research Institute has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Software company?
The median Cyclically Adjusted PB Ratio among Software companies is 2.23, based on 1,568 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nomura Research Institute's current Cyclically Adjusted PB Ratio of 6.92 is 210.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Nomura Research Institute and its competitors. For the Software industry, the median Cyclically Adjusted PB Ratio is 2.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nomura Research Institute's current Cyclically Adjusted PB Ratio is 6.92, which is near median its own 10-year median of 6.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nomura Research Institute stock overvalued right now?
Based on GuruFocus' analysis, Nomura Research Institute (TSE:4307) is currently considered Modestly Undervalued. The stock's GF Value™ is 円5,213.35, compared to a current price of 円4,627.00 — trading 11.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 6.92, which is near median its 10-year median of 6.56 and 210.3% above the Software industry median of 2.23. Nomura Research Institute's overall GF Score™ is 83/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Nomura Research Institute (TSE:4307), the current Cyclically Adjusted PB Ratio is 6.92 as of Aug. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Nomura Research Institute (TSE:4307) Overvalued in 2026?
Based on GuruFocus' analysis, Nomura Research Institute stock appears to be undervalued.
The current stock price of 円4,627.00 is trading 11.2% below its estimated GF Value™ of 円5,213.35.
GuruFocus considers Nomura Research Institute to be Modestly Undervalued.
Key valuation signals for TSE:4307:
Cyclically Adjusted PB Ratio: 6.92 (near median its 10-year median of 6.56)
GF Value™: 円5,213.35 vs. price of 円4,627.00 (11.2% below fair value)
Industry Position: 210.3% above the Software median (#1313 of 1568)
No single metric tells the full story. See the TSE:4307 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nomura Research Institute was formed in 1988 through the merger of the original Nomura Research Institute and Nomura Computer Systems. Its core financial IT solutions segment acts as a de facto utility for Japan's capital markets, running shared back-office platforms for major brokerages and banks. The industrial IT solutions segment builds supply chain and enterprise resource planning systems for retailers and manufacturers. These are supported by IT platform services and a consulting business that originates digital transformation projects. The company reported fiscal 2025 revenue of JPY 814.7 billion. Nomura Holdings, the parent of Nomura Securities, remains NRI's largest shareholder with a 20% stake.
83GF Score
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