NMS Holdings (TSE:2162) Interest Coverage: 3.94 (As of Mar. 2026) — 15% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:2162 NMS Holdings Corp TSE:2162
46 GF Score
Price 円533.00
GF Value 円335.22
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is NMS Holdings Interest Coverage?

NMS Holdings TSE:2162 46 Interest Coverage is 3.94 as of Mar. 2026, which is 15% above its 10-year median of 3.43. GuruFocus rates TSE:2162 with a GF Score™ of 46/100 and a GF Value™ of 円335.22 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,678 Hardware companies, NMS Holdings ranks worse than 80.51% on this metric.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income by its Interest Expense. NMS Holdings's Operating Income for the three months ended in Mar. 2026 was 円502 Mil. NMS Holdings's Interest Expense for the three months ended in Mar. 2026 was 円-128 Mil. NMS Holdings's interest coverage for the quarter that ended in Mar. 2026 was 3.94. The higher the ratio, the stronger the company's financial strength is.

Warning Sign:

Ben Graham prefers companies' interest coverage to be at least 5. NMS Holdings Corp interest coverage is 3.53, which is low.

The historical rank and industry rank for NMS Holdings's Interest Coverage or its related term are showing as below:

TSE:2162' s Interest Coverage Range Over the Past 10 Years
Min: 2.55   Med: 3.43   Max: 12.33
Current: 3.53


TSE:2162's Interest Coverage is ranked worse than
80.51% of 1678 companies
in the Hardware industry
Industry Median: 13.645 vs TSE:2162: 3.53

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.


NMS Holdings  (TSE:2162) Interest Coverage Explanation

Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.

Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .


NMS Holdings Interest Coverage Related Terms


NMS Holdings Interest Coverage Historical Data

* Premium members only.

The historical data trend for NMS Holdings's Interest Coverage 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.

Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.

NMS Holdings Interest Coverage Chart

NMS Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Interest Coverage
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 4.00 2.55 3.43 3.53

NMS Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Interest Coverage 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 5.08 3.17 4.07 2.98 3.94

TSE:2162 vs APH, GLW: Interest Coverage Comparison

For the Electronic Components subindustry, NMS Holdings's Interest Coverage, along with its competitors' market caps and Interest Coverage 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.


NMS Holdings Interest Coverage vs Hardware Industry

For the Hardware industry and Technology sector, NMS Holdings's Interest Coverage distribution charts can be found below:

* The bar in red indicates where NMS Holdings's Interest Coverage falls into.


TSE:2162
46GF Score
NMS Holdings Corp TSE:2162
Interest Coverage is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NMS Holdings Interest Coverage Calculation

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

If Interest Expense is negative and Operating Income is positive, then

Interest Coverage=-1* Operating Income /Interest Expense

Else if Interest Expense is negative and Operating Income is negative, then

The company did not have earnings to cover the interest expense.

Else if Interest Expense is 0 and Long-Term Debt & Capital Lease Obligation is 0, then

The company had no debt (1).


Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

NMS Holdings's Interest Coverage for the fiscal year that ended in Mar. 2026 is calculated as

Here, for the fiscal year that ended in Mar. 2026, NMS Holdings's Interest Expense was 円-480 Mil. Its Operating Income was 円1,695 Mil. And its Long-Term Debt & Capital Lease Obligation was 円1,830 Mil.

Interest Coverage=-1* Operating Income (A: Mar. 2026 )/Interest Expense (A: Mar. 2026 )
=-1*1695.321/-480.114
=3.53

NMS Holdings's Interest Coverage for the quarter that ended in Mar. 2026 is calculated as

Here, for the three months ended in Mar. 2026, NMS Holdings's Interest Expense was 円-128 Mil. Its Operating Income was 円502 Mil. And its Long-Term Debt & Capital Lease Obligation was 円1,830 Mil.

Interest Coverage=-1* Operating Income (Q: Mar. 2026 )/Interest Expense (Q: Mar. 2026 )
=-1*502.354/-127.645
=3.94

* 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.

The higher the ratio, the stronger the company's Financial Strength is.

Frequently Asked Questions Learn more about Interest Coverage →
What does a Interest Coverage of 3.94 mean?
NMS Holdings (TSE:2162) has a Interest Coverage of 3.94 as of Mar. 2026. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on NMS Holdings and its competitors. This is 15% above median its historical median of 3.43. Over the past decade, NMS Holdings' Interest Coverage has ranged from 2.55 to 12.33. According to the industry distribution chart, NMS Holdings ranks #1351 out of 1678 companies in the Hardware industry, placing it in the top 80.5%.
Is NMS Holdings' Interest Coverage too high?
NMS Holdings' current Interest Coverage of 3.94 is 15% above median its 10-year median of 3.43. Over the past 10 years, this metric has ranged from a low of 2.55 to a high of 12.33. The Hardware industry median Interest Coverage is 13.65. NMS Holdings' value of 3.94 is 71.1% below this industry median. Based on the distribution chart, NMS Holdings ranks #1351 out of 1678 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, NMS Holdings has a GF Score™ of 46/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NMS Holdings' Interest Coverage compare to APH and GLW?
According to the Hardware industry distribution chart, NMS Holdings ranks #1351 out of 1678 companies for Interest Coverage. This places NMS Holdings in the lower half of its industry. The industry median Interest Coverage is 13.65. NMS Holdings' value of 3.94 is 71.1% below this benchmark. Historically, NMS Holdings' own Interest Coverage has ranged from 2.55 to 12.33 over the past decade. While the company's 10-year median is 3.43 vs. the industry median of 13.65, NMS Holdings has consistently been below 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 Interest Coverage for a Hardware company?
The median Interest Coverage among Hardware companies is 13.65, based on 1,678 companies in the industry. Companies in the top quartile (top 25%) have a Interest Coverage significantly above this median, while those in the bottom quartile fall well below. However, Interest Coverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NMS Holdings's current Interest Coverage of 3.94 is 71.1% below 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 Interest Coverage mean?
A high Interest Coverage can signal that a stock is expensive relative to its fundamentals. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on NMS Holdings and its competitors. For the Hardware industry, the median Interest Coverage is 13.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NMS Holdings's current Interest Coverage is 3.94, which is 15% above median its own 10-year median of 3.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NMS Holdings stock overvalued right now?
Based on GuruFocus' analysis, NMS Holdings (TSE:2162) is currently considered Significantly Overvalued. The stock's GF Value™ is 円335.22, compared to a current price of 円533.00 — trading 59% above its estimated fair value. The current Interest Coverage is 3.94, which is 15% above median its 10-year median of 3.43 and 71.1% below the Hardware industry median of 13.65. NMS Holdings' overall GF Score™ is 46/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Interest Coverage calculated?
Interest Coverage is calculated from a company's financial statements. For NMS Holdings (TSE:2162), the current Interest Coverage is 3.94 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 NMS Holdings (TSE:2162) Overvalued in 2026?

Based on GuruFocus' analysis, NMS Holdings stock appears to be overvalued. The current stock price of 円533.00 is trading 59% above its estimated GF Value™ of 円335.22. GuruFocus considers NMS Holdings to be Significantly Overvalued.

Key valuation signals for TSE:2162:

  • Interest Coverage: 3.94 (15% above median its 10-year median of 3.43)
  • GF Value™: 円335.22 vs. price of 円533.00 (59% above fair value)
  • GF Score™: 46/100 with 9 warning signs
  • Industry Position: 71.1% below the Hardware median (#1351 of 1678)

No single metric tells the full story. See the TSE:2162 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


NMS Holdings Business Description

Address 3-20-2 Nishi-Shinjuku, 45th floor, Tokyo Opera City Tower, Shinjuku-ku, Tokyo, JPN, 163-1445
NMS Holdings Corp is a Japan-based company. Its business activities are divided into four operating segments including Human resource solution business, Electronics manufacturing service (EMS) business, Vision ( neo EMS ), and Power supply business. The company offers staff members for contract manufacturing, engineer dispatch service, repairs and customer service. Its EMS business offers a wide range of services concerning board assembly through an integrated production process and firm management system. NMS also offers solutions for power supply and power supply-related products.
46GF Score

Get the complete analysis for TSE:2162

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

円533.00
Price
円335.22
GF Value