NRILY (Nomura Research Institute) EBIT: $448 Mil (TTM As of Mar. 2026)


NRILY Nomura Research Institute Ltd NRILY
88 GF Score
Price $26.10
GF Value $32.86
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Nomura Research Institute EBIT?

Nomura Research Institute NRILY -3.12% 88 EBIT is $448 Mil as of Mar. 2026. GuruFocus rates NRILY with a GF Score™ of 88/100 and a GF Value™ of $32.86 (Modestly Undervalued). The stock has 3 warning signs investors should review.

Nomura Research Institute's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $-376 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $448 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Nomura Research Institute's annualized ROC % for the quarter that ended in Mar. 2026 was -35.66%. Nomura Research Institute's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -328.48%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Nomura Research Institute's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 3.01%.

Nomura Research Institute  (OTCPK:NRILY) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Nomura Research Institute's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-1533.956 * ( 1 - 0% )/( (4596.511 + 4005.849)/ 2 )
=-1533.956/4301.18
=-35.66 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6083.693 - 418.465 - ( 1068.717 - max(0, 1236.225 - 2573.197+1068.717))
=4596.511

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6048.504 - 816.34 - ( 1226.315 - max(0, 1720.547 - 3157.622+1226.315))
=4005.849

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Nomura Research Institute's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-1503.504/( ( (444.114 + max(-210.781, 0)) + (471.318 + max(-56.527, 0)) )/ 2 )
=-1503.504/( ( 444.114 + 471.318 )/ 2 )
=-1503.504/457.716
=-328.48 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(706.231 + 0 + 174.249) - (418.465 + 0 + 672.796)
=-210.781

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1351.055 + 0 + 167.933) - (816.34 + 0 + 759.175)
=-56.527

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Nomura Research Institute's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=448.407/14916.537
=3.01 %

* 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 EBIT Related Terms

Nomura Research Institute EBIT Historical Data

* Premium members only.

The historical data trend for Nomura Research Institute's EBIT 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 EBIT Chart

Nomura Research Institute Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 912.39 853.26 826.88 938.99 399.83

Nomura Research Institute Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 226.68 271.68 288.31 264.29 -375.88

NRILY vs IBM, ACN, FISV: EBIT Comparison

For the Information Technology Services subindustry, Nomura Research Institute's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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 EV-to-EBIT vs Software Industry

For the Software industry and Technology sector, Nomura Research Institute's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Nomura Research Institute's EV-to-EBIT falls into.


NRILY
88GF Score
Nomura Research Institute Ltd NRILY
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nomura Research Institute EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $448 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of $448 Mil mean?
Nomura Research Institute (NRILY) has a EBIT of $448 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Nomura Research Institute.
Is Nomura Research Institute's EBIT too high?
Nomura Research Institute's current EBIT is $448 Mil. Overall, Nomura Research Institute has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Nomura Research Institute's EBIT compare to IBM and ACN?
Nomura Research Institute's EBIT of $448 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Software company?
A good EBIT depends on the Software industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Nomura Research Institute. Nomura Research Institute's current EBIT is $448 Mil. 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 (NRILY) is currently considered Modestly Undervalued. The stock's GF Value™ is $32.86, compared to a current price of $26.10 — trading 20.6% below its estimated fair value. The current EBIT is $448 Mil. Nomura Research Institute's overall GF Score™ is 88/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Nomura Research Institute (NRILY), the current EBIT is $448 Mil as of Mar. 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 (NRILY) Overvalued in 2026?

Based on GuruFocus' analysis, Nomura Research Institute stock appears to be undervalued. The current stock price of $26.10 is trading 20.6% below its estimated GF Value™ of $32.86. GuruFocus considers Nomura Research Institute to be Modestly Undervalued.

Key valuation signals for NRILY:

  • EBIT: $448 Mil
  • GF Value™: $32.86 vs. price of $26.10 (20.6% below fair value)
  • GF Score™: 88/100 with 3 warning signs

No single metric tells the full story. See the NRILY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Nomura Research Institute Business Description

Address 1-9-2 Otemachi, Otemachi Financial City Grand Cube, Chiyoda-ku, Tokyo, JPN, 100-0004
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.
88GF Score

Get the complete analysis for NRILY

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$26.10
Price
$32.86
GF Value