Fact based stock research
Nomura Real Estate Holdings (TSE:3231)

JP3762900003

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Nomura Real Estate Holdings stock research in summary

nomura-re-hd.co.jp

ANALYSIS: With an Obermatt Combined Rank of 94 (better than 94% compared with investment alternatives), Nomura Real Estate Holdings (Real Estate: Diversified Operations, Japan) shares have much better financial characteristics than comparable stocks. Shares of Nomura Real Estate Holdings are a good value (attractively priced) with a consolidated Value Rank of 93 (better than 93% of alternatives), are safely financed (Safety Rank of 79, which means low debt burdens), but show below-average growth (Growth Rank of 35). ...read more

RECOMMENDATION: A Combined Rank of 94, is a strong buy recommendation based on Nomura Real Estate Holdings's financial characteristics. As the company Nomura Real Estate Holdings's key financial metrics exhibit good value (Obermatt Value Rank of 93) but low growth (Obermatt Growth Rank of 35) while being safely financed (Obermatt Safety Rank of 79), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 93% of comparable companies, may also indicate that the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity and the downside is limited due to below-average financing risks. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	93
Growth Rank	35
Safety Rank	79
Combined Rank	94

Country	Japan
Industry	Real Estate: Diversified Operations
Index	Human Rights
Size class	X-Large

14-Nov-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Nomura Real Estate Holdings

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	73	95	80	93
GROWTH
GROWTH	60	61	53	35
SAFETY
SAFETY	47	74	69	79
SENTIMENT
SENTIMENT	n/a	34	72	^new
360° VIEW
360° VIEW	n/a	89	89	^new

Most recent update of the stock research: 14-Nov-2024. Financial reporting date used for calculating ranks: 30-Jun-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Nomura Real Estate Holdings is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	73	95	80	93
GROWTH
GROWTH	60	61	53	35
SAFETY
SAFETY	47	74	69	79
COMBINED
COMBINED	66	100	87	94

Last update of combined financial performance: 14-Nov-2024. Stock analysis on combined financial performance: The higher the rank of Nomura Real Estate Holdings the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 93 (better than 93% compared with alternatives) for 2024, Nomura Real Estate Holdings shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Nomura Real Estate Holdings. Price-to-Sales is 87 which means that the stock price compared with what market professionals expect for future sales is lower than for 87% of comparable companies, indicating a good value for Nomura Real Estate Holdings's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 83% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 78. Compared with other companies in the same industry, dividend yields of Nomura Real Estate Holdings are expected to be higher than for 67% of all competitors (a Dividend Yield rank of 67). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 93, is a buy recommendation based on Nomura Real Estate Holdings's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Nomura Real Estate Holdings based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	77	91	87	87
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	76	74	73	83
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	63	84	67	78
DIVIDEND YIELD
DIVIDEND YIELD	67	60	54	67
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	73	95	80	93

Last update of Value Rank: 14-Nov-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Nomura Real Estate Holdings; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 35 (better than 35% compared with alternatives), Nomura Real Estate Holdings shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below-average for Nomura Real Estate Holdings. While Sales Growth ranks at 70, professionals currently expect the company to grow more than 70% of its competitors, while all other growth ranks are below the market median. Profit Growth has a rank of 47, which means that, currently, professionals expect the company to grow its profits less than 53% of its competitors, and Capital Growth has a low rank of 14. Historic stock returns were also below average with a current Stock Returns rank of 33 which means that the stock returns have recently been below 67% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 35, is a hold recommendation for growth and momentum investors. If revenues are expected to increase, but all other growth indicators are negative, the company may be investing in future growth through means not visible in the balance sheet and thus not reflected in capital growth. The fact that Stock Returns have been below market doesn't mean that much, as it may be due to overly optimistic investor behavior in the past, which has been corrected to a more reasonable level recently. If that were the case, a positive Value Rank would be a reason to invest because the company is still expected to grow, while stock prices are now at a more reasonable level. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance isn't stellar here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	37	45	21	70
PROFIT GROWTH
PROFIT GROWTH	50	49	36	47
CAPITAL GROWTH
CAPITAL GROWTH	n/a	55	76	14
STOCK RETURNS
STOCK RETURNS	88	67	87	33
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	60	61	53	35

Last update of Growth Rank: 14-Nov-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Nomura Real Estate Holdings.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 79 (better than 79% compared with alternatives) for 2024, the company Nomura Real Estate Holdings has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Nomura Real Estate Holdings is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above-average for Nomura Real Estate Holdings. Refinancing is at 91, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 91% of its competitors. Liquidity is also good at 58, meaning the company generates more profit to service its debt than 58% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 38, which means the company has an above-average debt-to-equity ratio. It has more debt than 62% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 79 (better than 79% compared with alternatives), Nomura Real Estate Holdings has a financing structure that is significantly safer than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and Nomura Real Estate Holdings could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with Nomura Real Estate Holdings and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	21	35	37	38
REFINANCING
REFINANCING	77	94	87	91
LIQUIDITY
LIQUIDITY	42	46	51	58
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	47	74	69	79

Last update of Safety Rank: 14-Nov-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Nomura Real Estate Holdings and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	57	65	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	60	36	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	16	100	^new
MARKET PULSE
MARKET PULSE	n/a	58	53	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	34	72	^new

Last update of Sentiment Rank: 14-Nov-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Nomura Real Estate Holdings.
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