Nomura HoldingsHAM:NSE +0.93%66 Net Margin % is 18.60% as of Mar. 2026, which is 25% above its 10-year median of 14.85. GuruFocus rates HAM:NSE with a GF Score™ of 66/100 and a GF Value™ of €6.23 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 774 Capital Markets companies, Nomura Holdings ranks better than 56.85% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Nomura Holdings's Net Income for the
three
months ended in Mar. 2026 was €403 Mil. Nomura Holdings's Revenue for the
three
months ended in Mar. 2026 was €2,166 Mil. Therefore, Nomura Holdings's net margin for the quarter that ended in Mar. 2026 was 18.60%.
The historical rank and industry rank for Nomura Holdings's Net Margin % or its related term are showing as below:
HAM:NSE'
s Net Margin % Range Over the Past 10 Years
Min: -9.97 Med: 14.85 Max: 20.5
Current: 19.66
HAM:NSE's Net Margin % is ranked better than 56.85% of 774
companies
in the Capital Markets industry
Industry Median: 14.305
vs HAM:NSE: 19.66
Nomura Holdings (HAM:NSE) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Nomura Holdings Net Margin % Related Terms
Nomura Holdings Net Margin % Historical Data
* Premium members only.
The historical data trend for Nomura Holdings's Net Margin % 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.
For the Capital Markets subindustry, Nomura Holdings's Net Margin %, along with its competitors' market caps and Net Margin % 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 Holdings Net Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Nomura Holdings's Net Margin % distribution charts can be found below:
* The bar in red indicates where Nomura Holdings's Net Margin % falls into.
* 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 Holdings (HAM:NSE) has a Net Margin % of 18.60% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Nomura Holdings and its competitors. This is 25% above median its historical median of 14.85. According to the industry distribution chart, Nomura Holdings ranks #334 out of 774 companies in the Capital Markets industry, placing it in the top 43.2%.
Is Nomura Holdings' Net Margin % too high?
Nomura Holdings' current Net Margin % of 18.60% is 25% above median its 10-year median of 14.85. The Capital Markets industry median Net Margin % is 14.31. Nomura Holdings' value of 18.60% is 30% above this industry median. Based on the distribution chart, Nomura Holdings ranks #334 out of 774 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Nomura Holdings has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nomura Holdings' Net Margin % compare to MS and GS?
According to the Capital Markets industry distribution chart, Nomura Holdings ranks #334 out of 774 companies for Net Margin %. This puts Nomura Holdings in the upper half of its industry. The industry median Net Margin % is 14.31. Nomura Holdings' value of 18.60% is 30% above this benchmark. While the company's 10-year median is 14.85 vs. the industry median of 14.31, Nomura Holdings 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 Net Margin % for a Capital Markets company?
The median Net Margin % among Capital Markets companies is 14.31, based on 774 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nomura Holdings's current Net Margin % of 18.60% is 30% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Nomura Holdings and its competitors. For the Capital Markets industry, the median Net Margin % is 14.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nomura Holdings's current Net Margin % is 18.60%, which is 25% above median its own 10-year median of 14.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nomura Holdings stock overvalued right now?
Based on GuruFocus' analysis, Nomura Holdings (HAM:NSE) is currently considered Modestly Overvalued. The stock's GF Value™ is €6.23, compared to a current price of €7.56 — trading 21.3% above its estimated fair value. The current Net Margin % is 18.60%, which is 25% above median its 10-year median of 14.85 and 30% above the Capital Markets industry median of 14.31. Nomura Holdings' overall GF Score™ is 66/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Nomura Holdings (HAM:NSE), the current Net Margin % is 18.60% 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 Holdings (HAM:NSE) Overvalued in 2026?
Based on GuruFocus' analysis, Nomura Holdings stock appears to be overvalued.
The current stock price of €7.56 is trading 21.3% above its estimated GF Value™ of €6.23.
GuruFocus considers Nomura Holdings to be Modestly Overvalued.
Key valuation signals for HAM:NSE:
Net Margin %: 18.60% (25% above median its 10-year median of 14.85)
GF Value™: €6.23 vs. price of €7.56 (21.3% above fair value)
Industry Position: 30% above the Capital Markets median (#334 of 774)
No single metric tells the full story. See the HAM:NSE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nomura Holdings Inc is a financial services group in Japan and operates offices in countries and regions world-wide, including Japan, the U.S., the U.K., Singapore, and the Hong Kong Special Administrative Region ("Hong Kong") through its subsidiaries. The company's clients include individuals, corporations, financial institutions, governments, and governmental agencies. The company's business consists of Wealth Management*, Investment Management, and Wholesale. The company generates the majority of its revenue from the wholesale segment. The Wholesale Division consists of two businesses, Global Markets, which is mainly engaged in the trading, sales, and structuring of financial products, and Investment Banking, which is engaged in advisory, financing, and solutions businesses.
66GF Score
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