Nomura Research Institute, Ltd. (TYO:4307)

Nomura Research Institute Income Statement

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

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar 31, 2026	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022
Revenue	814,708	764,813	736,556	692,165	611,634
Revenue Growth (YoY)	6.52%	3.84%	6.41%	13.17%	11.14%
Cost of Revenue	514,556	489,517	475,549	452,336	395,562
Gross Profit	300,152	275,296	261,007	239,829	216,072
Selling, General & Admin	145,642	144,071	142,353	131,580	113,536
Other Operating Expenses	97,339	-2,604	-283	-1,331	-123
Operating Expenses	242,981	141,467	142,070	130,249	113,413
Operating Income	57,171	133,829	118,937	109,580	102,659
Interest Expense	-4,595	-5,684	-6,095	-4,807	-1,382
Interest & Investment Income	5,173	4,255	3,405	2,066	1,705
Earnings From Equity Investments	1,103	902	780	450	204
Other Non Operating Income (Expenses)	-2	681	-498	-592	-1,872
EBT Excluding Unusual Items	58,850	133,983	116,529	106,697	101,314
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	-	-
Pretax Income	58,850	134,160	117,223	108,498	104,670
Income Tax Expense	43,067	39,778	37,062	32,002	32,878
Earnings From Continuing Operations	15,783	94,382	80,161	76,496	71,792
Minority Interest in Earnings	-526	-620	-518	-189	-347
Net Income	15,257	93,762	79,643	76,307	71,445
Net Income to Common	15,257	93,762	79,643	76,307	71,445
Net Income Growth	-83.73%	17.73%	4.37%	6.80%	35.14%
Shares Outstanding (Basic)	573	573	582	592	593
Shares Outstanding (Diluted)	573	573	582	592	594
Shares Change (YoY)	-0.02%	-1.51%	-1.70%	-0.27%	-1.04%
EPS (Basic)	26.62	163.56	136.90	128.92	120.57
EPS (Diluted)	26.62	163.56	136.84	128.88	120.34
EPS Growth	-83.73%	19.53%	6.18%	7.10%	36.56%
Free Cash Flow	141,797	123,536	134,793	106,838	91,313
Free Cash Flow Per Share	247.40	215.50	231.59	180.45	153.80
Dividend Per Share	77.000	63.000	53.000	45.000	40.000
Dividend Growth	22.22%	18.87%	17.78%	12.50%	11.11%
Gross Margin	36.84%	35.99%	35.44%	34.65%	35.33%
Operating Margin	7.02%	17.50%	16.15%	15.83%	16.78%
Profit Margin	1.87%	12.26%	10.81%	11.02%	11.68%
Free Cash Flow Margin	17.41%	16.15%	18.30%	15.43%	14.93%
EBITDA	108,446	182,739	167,094	154,672	144,600
EBITDA Margin	13.31%	23.89%	22.69%	22.35%	23.64%
D&A For EBITDA	51,275	48,910	48,157	45,092	41,941
EBIT	57,171	133,829	118,937	109,580	102,659
EBIT Margin	7.02%	17.50%	16.15%	15.83%	16.78%
Effective Tax Rate	73.18%	29.65%	31.62%	29.49%	31.41%

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