NURAF (Nomura Research Institute) Scaled Net Operating Assets: 0.50 (As of Mar. 2026)


NURAF Nomura Research Institute Ltd NURAF
88 GF Score
Price $25.65
GF Value $30.67
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Nomura Research Institute Scaled Net Operating Assets?

Nomura Research Institute NURAF 88 Scaled Net Operating Assets is 0.50 as of Mar. 2026. 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.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Nomura Research Institute's operating assets for the quarter that ended in Mar. 2026 was $4,822 Mil. Nomura Research Institute's operating liabilities for the quarter that ended in Mar. 2026 was $1,800 Mil. Nomura Research Institute's Total Assets for the quarter that ended in Dec. 2025 was $6,084 Mil. Therefore, Nomura Research Institute's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.50.


Nomura Research Institute Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Nomura Research Institute's Scaled Net Operating Assets 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 Scaled Net Operating Assets Chart

Nomura Research Institute Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.65 0.56 0.55 0.57 0.49

Nomura Research Institute Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.61 0.57 0.58 0.55 0.50

NURAF vs IBM, ACN, FISV: Scaled Net Operating Assets Comparison

For the Information Technology Services subindustry, Nomura Research Institute's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Software Industry

For the Software industry and Technology sector, Nomura Research Institute's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Nomura Research Institute's Scaled Net Operating Assets falls into.


NURAF
88GF Score
Nomura Research Institute Ltd NURAF
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Nomura Research Institute Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Nomura Research Institute's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(A: Mar. 2026 )
=(Operating Assets (A: Mar. 2026 )-Operating Liabilities (A: Mar. 2026 ))/Total Assets (A: Mar. 2025 )
=(4822.189-1800.214)/6229.142
=0.49

where

Operating Assets(A: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6048.504 - 1226.315
=4822.189

Operating Liabilities(A: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3288.266 - 1343.02 - 145.032
=1800.214

Nomura Research Institute's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(4822.189-1800.214)/6083.693
=0.50

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=6048.504 - 1226.315
=4822.189

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=3288.266 - 1343.02 - 145.032
=1800.214

* 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.

What does a Scaled Net Operating Assets of 0.50 mean?
Nomura Research Institute (NURAF) has a Scaled Net Operating Assets of 0.50 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Nomura Research Institute and its competitors.
Is Nomura Research Institute's Scaled Net Operating Assets too high?
Nomura Research Institute's current Scaled Net Operating Assets is 0.50. 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 Scaled Net Operating Assets compare to IBM and ACN?
Nomura Research Institute's Scaled Net Operating Assets of 0.50 can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Software company?
A good Scaled Net Operating Assets depends on the Software industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Nomura Research Institute and its competitors. Nomura Research Institute's current Scaled Net Operating Assets is 0.50. 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 Scaled Net Operating Assets is 0.50. 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 Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Nomura Research Institute (NURAF), the current Scaled Net Operating Assets is 0.50 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 $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:

  • Scaled Net Operating Assets: 0.50
  • GF Value™: $30.67 vs. price of $25.65 (16.4% below fair value)
  • GF Score™: 88/100 with 3 warning signs

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 Business Description

Address 1-9-2 Otemachi, Otemachi Financial City Grand Cube, Chiyoda-ku, Tokyo, JPN, 100-0004
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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Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$25.65
Price
$30.67
GF Value