Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Nomura Research Institute's annualized net income for the quarter that ended in Mar. 2026 was $-1,713 Mil. Nomura Research Institute's average shareholder tangible equity for the quarter that ended in Mar. 2026 was $1,396 Mil. Therefore, Nomura Research Institute's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -122.70%.
The historical rank and industry rank for Nomura Research Institute's Return-on-Tangible-Equity or its related term are showing as below:
NURAF'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.67 Med: 25.41 Max: 62.51
Current: 7.9
During the past 13 years, Nomura Research Institute's highest Return-on-Tangible-Equity was 62.51%. The lowest was 7.67%. And the median was 25.41%.
NURAF's Return-on-Tangible-Equity is ranked worse than 51.36% of 2469
companies
in the Software industry
Industry Median: 8.62
vs NURAF: 7.90
Nomura Research Institute (OTCPK:NURAF) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Nomura Research Institute Return-on-Tangible-Equity Related Terms
Nomura Research Institute Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Nomura Research Institute's Return-on-Tangible-Equity 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-Equity Chart
NURAF vs IBM, ACN, FISV: Return-on-Tangible-Equity Comparison
For the Information Technology Services subindustry, Nomura Research Institute's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Software Industry
For the Software industry and Technology sector, Nomura Research Institute's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Nomura Research Institute's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of -122.70% mean?
Nomura Research Institute (NURAF) has a Return-on-Tangible-Equity of -122.70% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Nomura Research Institute and its competitors. Over the past decade, Nomura Research Institute's Return-on-Tangible-Equity has ranged from 7.67 to 62.51. According to the industry distribution chart, Nomura Research Institute ranks #1268 out of 2469 companies in the Software industry, placing it in the top 51.4%.
Is Nomura Research Institute's Return-on-Tangible-Equity too high?
Nomura Research Institute's current Return-on-Tangible-Equity is -122.70%. Over the past 10 years, this metric has ranged from a low of 7.67 to a high of 62.51. Based on the distribution chart, Nomura Research Institute ranks #1268 out of 2469 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 Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Nomura Research Institute's Return-on-Tangible-Equity compare to IBM and ACN?
According to the Software industry distribution chart, Nomura Research Institute ranks #1268 out of 2469 companies for Return-on-Tangible-Equity. This places Nomura Research Institute in the lower half of its industry. The industry median Return-on-Tangible-Equity is 8.62. Historically, Nomura Research Institute's own Return-on-Tangible-Equity has ranged from 7.67 to 62.51 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-Equity for a Software company?
The median Return-on-Tangible-Equity among Software companies is 8.62, based on 2,469 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Nomura Research Institute and its competitors. For the Software industry, the median Return-on-Tangible-Equity is 8.62 — 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-Equity is -122.70%. 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 $30.20, compared to a current price of $28.80 — trading 4.6% below its estimated fair value. The current Return-on-Tangible-Equity is -122.70%. 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-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Nomura Research Institute (NURAF), the current Return-on-Tangible-Equity is -122.70% 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 undervalued.
The current stock price of $28.80 is trading 4.6% below its estimated GF Value™ of $30.20.
GuruFocus considers Nomura Research Institute to be Fairly Valued.
Key valuation signals for NURAF:
Return-on-Tangible-Equity: -122.70%
GF Value™: $30.20 vs. price of $28.80 (4.6% below 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
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