Nomura Research InstituteNURAF 88 EV-to-FCF is 22.68 as of Jun. 29, 2026, which is 35% below its 10-year median of 34.92. GuruFocus rates NURAF with a GF Score™ of 88/100 and a GF Value™ of $30.67 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,588 Software companies, Nomura Research Institute ranks worse than 70.15% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Nomura Research Institute's Enterprise Value is $15,182 Mil.
Nomura Research Institute's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $669 Mil. Therefore, Nomura Research Institute's EV-to-FCF for today is 22.68.
The historical rank and industry rank for Nomura Research Institute's EV-to-FCF or its related term are showing as below:
NURAF'
s EV-to-FCF Range Over the Past 10 Years
Min: 15.73 Med: 34.92 Max: 101.75
Current: 24.24
During the past 13 years, the highest EV-to-FCF of Nomura Research Institute was 101.75. The lowest was 15.73. And the median was 34.92.
NURAF's EV-to-FCF is ranked worse than 70.15% of 1588
companies
in the Software industry
Industry Median: 13.98
vs NURAF: 24.24
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Nomura Research Institute (OTCPK:NURAF) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Nomura Research Institute's PE Ratio (TTM) for today is calculated as:
Nomura Research Institute's share price for today is $25.65.
Nomura Research Institute's Earnings per Share (Diluted) 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 $0.222.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Nomura Research Institute EV-to-FCF Related Terms
Nomura Research Institute EV-to-FCF Historical Data
* 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.
For the Information Technology Services subindustry, Nomura Research Institute's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Software Industry
For the Software industry and Technology sector, Nomura Research Institute's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Nomura Research Institute's EV-to-FCF falls into.
Nomura Research Institute's current Enterprise Value is $15,182 Mil.
Nomura Research Institute's Free Cash Flow 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 $669 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.
Nomura Research Institute (NURAF) has a EV-to-FCF of 22.68 as of Jun. 29, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Nomura Research Institute and its competitors. This is 35% below median its historical median of 34.92. Over the past decade, Nomura Research Institute's EV-to-FCF has ranged from 15.73 to 101.75. According to the industry distribution chart, Nomura Research Institute ranks #1114 out of 1588 companies in the Software industry, placing it in the top 70.2%.
Is Nomura Research Institute's EV-to-FCF too high?
Nomura Research Institute's current EV-to-FCF of 22.68 is 35% below median its 10-year median of 34.92. Over the past 10 years, this metric has ranged from a low of 15.73 to a high of 101.75. The Software industry median EV-to-FCF is 13.98. Nomura Research Institute's value of 22.68 is 62.2% above this industry median. Based on the distribution chart, Nomura Research Institute ranks #1114 out of 1588 companies in the Software industry, which is below the industry midpoint. 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 EV-to-FCF compare to IBM and ACN?
According to the Software industry distribution chart, Nomura Research Institute ranks #1114 out of 1588 companies for EV-to-FCF. This places Nomura Research Institute in the lower half of its industry. The industry median EV-to-FCF is 13.98. Nomura Research Institute's value of 22.68 is 62.2% above this benchmark. Historically, Nomura Research Institute's own EV-to-FCF has ranged from 15.73 to 101.75 over the past decade. While the company's 10-year median is 34.92 vs. the industry median of 13.98, 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 EV-to-FCF for a Software company?
The median EV-to-FCF among Software companies is 13.98, based on 1,588 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nomura Research Institute's current EV-to-FCF of 22.68 is 62.2% 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 EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Nomura Research Institute and its competitors. For the Software industry, the median EV-to-FCF is 13.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nomura Research Institute's current EV-to-FCF is 22.68, which is 35% below median its own 10-year median of 34.92. 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 (NURAF) is currently considered Modestly Undervalued. The stock's GF Value™ is $30.67, compared to a current price of $25.65 — trading 16.4% below its estimated fair value. The current EV-to-FCF is 22.68, which is 35% below median its 10-year median of 34.92 and 62.2% above the Software industry median of 13.98. 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 EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Nomura Research Institute (NURAF), the current EV-to-FCF is 22.68 as of Jun. 29, 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 (NURAF) Overvalued in 2026?
Based on GuruFocus' analysis, Nomura Research Institute stock appears to be undervalued.
The current stock price of $25.65 is trading 16.4% below its estimated GF Value™ of $30.67.
GuruFocus considers Nomura Research Institute to be Modestly Undervalued.
Key valuation signals for NURAF:
EV-to-FCF: 22.68 (35% below median its 10-year median of 34.92)
GF Value™: $30.67 vs. price of $25.65 (16.4% below fair value)
Industry Position: 62.2% above the Software median (#1114 of 1588)
No single metric tells the full story. See the NURAF 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.
88GF Score
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