Nomura Research Institute, Ltd. (NURAF)

Nomura Research Institute Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Revenue	754,782	736,556	692,165	611,634	550,337	528,873
Revenue Growth (YoY)	3.95%	6.41%	13.17%	11.14%	4.06%	5.51%
Cost of Revenue	483,170	475,549	452,336	395,562	364,539	348,006
Gross Profit	271,612	261,007	239,829	216,072	185,798	180,867
Selling, General & Admin	143,510	142,353	131,580	113,536	98,366	92,494
Other Operating Expenses	-2,504	-283	-1,331	-123	4,526	-
Operating Expenses	141,006	142,070	130,249	113,413	102,892	97,688
Operating Income	130,606	118,937	109,580	102,659	82,906	83,179
Interest Expense	-6,502	-6,095	-4,807	-1,382	-1,005	-515
Interest & Investment Income	4,515	3,405	2,066	1,705	1,258	1,380
Earnings From Equity Investments	919	780	450	204	62	8
Currency Exchange Gain (Loss)	-	-	-	-	-	236
Other Non Operating Income (Expenses)	-2	-498	-592	-1,872	-9,925	239
EBT Excluding Unusual Items	129,536	116,529	106,697	101,314	73,296	84,527
Gain (Loss) on Sale of Investments	-	1,430	-438	-	-	20,337
Gain (Loss) on Sale of Assets	-	15	2,239	3,356	-	-
Asset Writedown	-	-751	-	-	-2,220	-2,383
Other Unusual Items	-	-	-	-	-	14
Pretax Income	129,536	117,223	108,498	104,670	71,076	102,495
Income Tax Expense	38,613	37,062	32,002	32,878	18,497	32,288
Earnings From Continuing Operations	90,923	80,161	76,496	71,792	52,579	70,207
Minority Interest in Earnings	-578	-518	-189	-347	288	-931
Net Income	90,345	79,643	76,307	71,445	52,867	69,276
Net Income to Common	90,345	79,643	76,307	71,445	52,867	69,276
Net Income Growth	9.69%	4.37%	6.81%	35.14%	-23.69%	36.02%
Shares Outstanding (Basic)	574	582	592	593	598	634
Shares Outstanding (Diluted)	574	582	592	594	600	635
Shares Change (YoY)	-2.04%	-1.70%	-0.28%	-1.04%	-5.55%	-10.28%
EPS (Basic)	157.33	136.90	128.92	120.57	88.34	109.35
EPS (Diluted)	157.31	136.84	128.88	120.34	88.12	109.07
EPS Growth	11.97%	6.18%	7.10%	36.56%	-19.20%	51.61%
Free Cash Flow	132,166	134,793	106,838	91,313	76,960	97,812
Free Cash Flow Per Share	230.13	231.59	180.45	153.80	128.28	153.99
Dividend Per Share	58.000	53.000	45.000	40.000	36.000	32.000
Dividend Growth	23.40%	17.78%	12.50%	11.11%	12.50%	6.67%
Gross Margin	35.99%	35.44%	34.65%	35.33%	33.76%	34.20%
Operating Margin	17.30%	16.15%	15.83%	16.78%	15.06%	15.73%
Profit Margin	11.97%	10.81%	11.02%	11.68%	9.61%	13.10%
Free Cash Flow Margin	17.51%	18.30%	15.44%	14.93%	13.98%	18.49%
EBITDA	179,314	167,094	154,672	144,600	123,817	113,593
EBITDA Margin	23.76%	22.69%	22.35%	23.64%	22.50%	21.48%
D&A For EBITDA	48,708	48,157	45,092	41,941	40,911	30,414
EBIT	130,606	118,937	109,580	102,659	82,906	83,179
EBIT Margin	17.30%	16.15%	15.83%	16.78%	15.06%	15.73%
Effective Tax Rate	29.81%	31.62%	29.50%	31.41%	26.02%	31.50%

Source: S&P Capital IQ. Standard template. Financial Sources.