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.
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.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Nomura Research Institute's annualizedNet Income for the quarter that ended in Mar. 2026 was $-1,713 Mil. Nomura Research Institute's average total tangible assets for the quarter that ended in Mar. 2026 was $4,486 Mil. Therefore, Nomura Research Institute's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -38.18%.
The historical rank and industry rank for Nomura Research Institute's Return-on-Tangible-Asset or its related term are showing as below:
NURAF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2.15 Med: 10.76 Max: 14.23
Current: 2.22
During the past 13 years, Nomura Research Institute's highest Return-on-Tangible-Asset was 14.23%. The lowest was 2.15%. And the median was 10.76%.
NURAF's Return-on-Tangible-Asset is ranked better than 50.74% of 2887
companies
in the Software industry
Industry Median: 2.04
vs NURAF: 2.22
Nomura Research Institute (OTCPK:NURAF) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Nomura Research Institute Return-on-Tangible-Asset Related Terms
Nomura Research Institute Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Nomura Research Institute's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset Chart
NURAF vs IBM, ACN, FISV: Return-on-Tangible-Asset Comparison
For the Information Technology Services subindustry, Nomura Research Institute's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Software Industry
For the Software industry and Technology sector, Nomura Research Institute's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Nomura Research Institute's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of -38.18% mean?
Nomura Research Institute (NURAF) has a Return-on-Tangible-Asset of -38.18% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Nomura Research Institute and its competitors. Over the past decade, Nomura Research Institute's Return-on-Tangible-Asset has ranged from 2.15 to 14.23. According to the industry distribution chart, Nomura Research Institute ranks #1422 out of 2887 companies in the Software industry, placing it in the top 49.3%.
Is Nomura Research Institute's Return-on-Tangible-Asset too high?
Nomura Research Institute's current Return-on-Tangible-Asset is -38.18%. Over the past 10 years, this metric has ranged from a low of 2.15 to a high of 14.23. Based on the distribution chart, Nomura Research Institute ranks #1422 out of 2887 companies in the Software industry, which is above the industry midpoint. Overall, Nomura Research Institute has a GF Score™ of 88/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nomura Research Institute's Return-on-Tangible-Asset compare to IBM and ACN?
According to the Software industry distribution chart, Nomura Research Institute ranks #1422 out of 2887 companies for Return-on-Tangible-Asset. This puts Nomura Research Institute in the upper half of its industry. The industry median Return-on-Tangible-Asset is 2.04. Historically, Nomura Research Institute's own Return-on-Tangible-Asset has ranged from 2.15 to 14.23 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Software company?
The median Return-on-Tangible-Asset among Software companies is 2.04, based on 2,887 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Nomura Research Institute and its competitors. For the Software industry, the median Return-on-Tangible-Asset is 2.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nomura Research Institute's current Return-on-Tangible-Asset is -38.18%. 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 Fairly Valued. The stock's GF Value™ is $30.66, compared to a current price of $30.95 — trading 0.9% above its estimated fair value. The current Return-on-Tangible-Asset is -38.18%. Nomura Research Institute's overall GF Score™ is 88/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Nomura Research Institute (NURAF), the current Return-on-Tangible-Asset is -38.18% 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 (NURAF) Overvalued in 2026?
Based on GuruFocus' analysis, Nomura Research Institute stock appears to be overvalued.
The current stock price of $30.95 is trading 0.9% above its estimated GF Value™ of $30.66.
GuruFocus considers Nomura Research Institute to be Fairly Valued.
Key valuation signals for NURAF:
Return-on-Tangible-Asset: -38.18%
GF Value™: $30.66 vs. price of $30.95 (0.9% above fair value)
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
Get the complete analysis for NURAF
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NURAF has been successfully added to your 
