Nomura Research Institute, Ltd. (FRA:NR7)

Nomura Research Institute Income Statement

Financials in millions JPY. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	798,901	764,813	736,556	692,165	611,634	550,337
Revenue Growth (YoY)	5.85%	3.84%	6.41%	13.17%	11.14%	4.06%
Cost of Revenue	505,122	489,517	475,549	452,336	395,562	364,539
Gross Profit	293,779	275,296	261,007	239,829	216,072	185,798
Selling, General & Admin	144,056	144,071	142,353	131,580	113,536	98,366
Other Operating Expenses	-712	-2,604	-283	-1,331	-123	4,526
Operating Expenses	143,344	141,467	142,070	130,249	113,413	102,892
Operating Income	150,435	133,829	118,937	109,580	102,659	82,906
Interest Expense	-4,775	-5,684	-6,095	-4,807	-1,382	-1,005
Interest & Investment Income	5,546	4,255	3,405	2,066	1,705	1,258
Earnings From Equity Investments	901	902	780	450	204	62
Other Non Operating Income (Expenses)	-3	681	-498	-592	-1,872	-9,925
EBT Excluding Unusual Items	152,104	133,983	116,529	106,697	101,314	73,296
Gain (Loss) on Sale of Investments	-	15	1,430	-438	-	-
Gain (Loss) on Sale of Assets	-	-	15	2,239	3,356	-
Asset Writedown	-	162	-751	-	-	-2,220
Pretax Income	152,104	134,160	117,223	108,498	104,670	71,076
Income Tax Expense	46,319	39,778	37,062	32,002	32,878	18,497
Earnings From Continuing Operations	105,785	94,382	80,161	76,496	71,792	52,579
Minority Interest in Earnings	-617	-620	-518	-189	-347	288
Net Income	105,168	93,762	79,643	76,307	71,445	52,867
Net Income to Common	105,168	93,762	79,643	76,307	71,445	52,867
Net Income Growth	16.41%	17.73%	4.37%	6.80%	35.14%	-23.69%
Shares Outstanding (Basic)	573	573	582	592	593	598
Shares Outstanding (Diluted)	573	573	582	592	594	600
Shares Change (YoY)	-0.28%	-1.51%	-1.70%	-0.27%	-1.04%	-5.55%
EPS (Basic)	183.63	163.56	136.90	128.92	120.57	88.34
EPS (Diluted)	183.63	163.56	136.84	128.88	120.34	88.12
EPS Growth	16.73%	19.53%	6.18%	7.10%	36.56%	-19.20%
Free Cash Flow	137,904	123,536	134,793	106,838	91,313	76,960
Free Cash Flow Per Share	240.78	215.50	231.59	180.45	153.80	128.28
Dividend Per Share	69.000	63.000	53.000	45.000	40.000	36.000
Dividend Growth	18.97%	18.87%	17.78%	12.50%	11.11%	12.50%
Gross Margin	36.77%	35.99%	35.44%	34.65%	35.33%	33.76%
Operating Margin	18.83%	17.50%	16.15%	15.83%	16.78%	15.07%
Profit Margin	13.16%	12.26%	10.81%	11.02%	11.68%	9.61%
Free Cash Flow Margin	17.26%	16.15%	18.30%	15.43%	14.93%	13.98%
EBITDA	200,577	182,739	167,094	154,672	144,600	123,817
EBITDA Margin	25.11%	23.89%	22.69%	22.35%	23.64%	22.50%
D&A For EBITDA	50,142	48,910	48,157	45,092	41,941	40,911
EBIT	150,435	133,829	118,937	109,580	102,659	82,906
EBIT Margin	18.83%	17.50%	16.15%	15.83%	16.78%	15.07%
Effective Tax Rate	30.45%	29.65%	31.62%	29.49%	31.41%	26.02%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.