IREN Limited (IREN) vs Nomura Holdings Inc ADR (NMR)

IREN Limited and Nomura Holdings Inc ADR are both Capital Markets companies. Nomura Holdings Inc ADR is the larger, with a market value of $28.6B against $18.4B — 1.6× the size. IREN Limited has negative trailing earnings, so its P/E is not meaningful; Nomura Holdings Inc ADR trades at 10.3×. IREN Limited grew revenue faster over the last twelve months: 41.1% against 9.61%. Nomura Holdings Inc ADR has the higher net margin (8.90% vs −99.4%) and the higher return on invested capital (0.00% vs −5.53%). Across the 19 metrics below, Nomura Holdings Inc ADR leads on 15 and IREN Limited on 4.

Valuation

Metric IREN NMR Capital Markets median
P/E n/m 10.27 15.78
P/S 19.73 0.89 2.32
P/B 3.33 1.17 1.89
Price to free cash flow n/m 5.49 6.25
EV/EBITDA 319.38 n/m 8.87
EV/Sales 19.94 (3.26) 2.28
Earnings yield (4.53%) 9.74% (3.77%)
Free cash flow yield (6.26%) 18.20% (1.49%)

Profitability

Metric IREN NMR Capital Markets median
Gross margin 68.92% 95.73% 62.80%
Operating margin (54.17%) 73.13% 0.00%
Net margin (99.38%) 8.90% (0.55%)
Free cash flow margin (123.59%) 0.00% 0.00%
Return on equity (23.41%) 11.83% 0.00%
Return on assets (7.50%) 0.71% 0.00%
Return on invested capital (5.53%) 0.00% 0.00%

Growth

Metric IREN NMR Capital Markets median
Revenue growth (TTM) 41.11% 9.61% 21.02%
EPS growth (last fiscal year) (669.23%) 8.22% —
Revenue growth, 5-year CAGR 142.17% 15.62% 18.16%
Net income growth, 5-year CAGR 0.00% 10.68% 0.00%

Health

Metric IREN NMR Capital Markets median
Debt to equity 1.84 8.06 0.08
Current ratio 3.55 2.00 1.51
Net debt to EBITDA 3.30 1.52 (0.24)

Dividend

Metric IREN NMR Capital Markets median
Dividend yield — 2.73% 2.20%
Payout ratio 0.00 0.00 0.00

Size

Metric IREN NMR Capital Markets median
Market cap 18.38b 28.55b 724.58m

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