Nomura Research Institute, Ltd. (NRILY)

Nomura Research Institute Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	764,813	736,556	692,165	611,634	550,337
Revenue Growth (YoY)	3.84%	6.41%	13.17%	11.14%	4.06%
Cost of Revenue	489,517	475,549	452,336	395,562	364,539
Gross Profit	275,296	261,007	239,829	216,072	185,798
Selling, General & Admin	144,071	142,353	131,580	113,536	98,366
Other Operating Expenses	-2,781	-283	-1,331	-123	4,526
Operating Expenses	141,290	142,070	130,249	113,413	102,892
Operating Income	134,006	118,937	109,580	102,659	82,906
Interest Expense	-5,803	-6,095	-4,807	-1,382	-1,005
Interest & Investment Income	5,057	3,405	2,066	1,705	1,258
Earnings From Equity Investments	902	780	450	204	62
Other Non Operating Income (Expenses)	-2	-498	-592	-1,872	-9,925
EBT Excluding Unusual Items	134,160	116,529	106,697	101,314	73,296
Gain (Loss) on Sale of Investments	-	1,430	-438	-	-
Gain (Loss) on Sale of Assets	-	15	2,239	3,356	-
Asset Writedown	-	-751	-	-	-2,220
Pretax Income	134,160	117,223	108,498	104,670	71,076
Income Tax Expense	39,778	37,062	32,002	32,878	18,497
Earnings From Continuing Operations	94,382	80,161	76,496	71,792	52,579
Minority Interest in Earnings	-620	-518	-189	-347	288
Net Income	93,762	79,643	76,307	71,445	52,867
Net Income to Common	93,762	79,643	76,307	71,445	52,867
Net Income Growth	17.73%	4.37%	6.80%	35.14%	-23.69%
Shares Outstanding (Basic)	573	582	592	593	598
Shares Outstanding (Diluted)	573	582	592	594	600
Shares Change (YoY)	-1.51%	-1.70%	-0.27%	-1.04%	-5.55%
EPS (Basic)	163.56	136.90	128.92	120.57	88.34
EPS (Diluted)	163.56	136.84	128.88	120.34	88.12
EPS Growth	19.53%	6.18%	7.10%	36.56%	-19.20%
Free Cash Flow	123,536	134,793	106,838	91,313	76,960
Free Cash Flow Per Share	215.50	231.59	180.45	153.80	128.28
Dividend Per Share	63.000	53.000	45.000	40.000	36.000
Dividend Growth	18.87%	17.78%	12.50%	11.11%	12.50%
Gross Margin	35.99%	35.44%	34.65%	35.33%	33.76%
Operating Margin	17.52%	16.15%	15.83%	16.78%	15.07%
Profit Margin	12.26%	10.81%	11.02%	11.68%	9.61%
Free Cash Flow Margin	16.15%	18.30%	15.43%	14.93%	13.98%
EBITDA	182,916	167,094	154,672	144,600	123,817
EBITDA Margin	23.92%	22.69%	22.35%	23.64%	22.50%
D&A For EBITDA	48,910	48,157	45,092	41,941	40,911
EBIT	134,006	118,937	109,580	102,659	82,906
EBIT Margin	17.52%	16.15%	15.83%	16.78%	15.07%
Effective Tax Rate	29.65%	31.62%	29.49%	31.41%	26.02%

Updated Jan 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.