Nomura Holdings Inc ADR (NMR) vs Tradeweb Markets Inc. (TW)

Nomura Holdings Inc ADR and Tradeweb Markets Inc. are both Capital Markets companies. Nomura Holdings Inc ADR is the larger, with a market value of $28.6B against $23.7B — 1.2× the size. Nomura Holdings Inc ADR trades at the lower P/E: 10.3× against 24.1×. Tradeweb Markets Inc. grew revenue faster over the last twelve months: 14.0% against 9.61%. Tradeweb Markets Inc. has the higher net margin (40.7% vs 8.90%) and the higher return on invested capital (11.4% vs 0.00%). Both pay a dividend; Nomura Holdings Inc ADR yields more (2.73% vs 0.40%). Across the 22 metrics below, Tradeweb Markets Inc. leads on 13 and Nomura Holdings Inc ADR on 9.

Valuation

Metric NMR TW Capital Markets median
P/E 10.27 24.07 15.78
P/S 0.89 9.73 2.32
P/B 1.17 2.93 1.89
Price to free cash flow 5.49 19.97 6.25
EV/EBITDA n/m 16.06 8.87
EV/Sales (3.26) 8.81 2.28
Earnings yield 9.74% 4.15% (3.77%)
Free cash flow yield 18.20% 5.01% (1.49%)

Profitability

Metric NMR TW Capital Markets median
Gross margin 95.73% 100.00% 62.80%
Operating margin 73.13% 43.68% 0.00%
Net margin 8.90% 40.66% (0.55%)
Free cash flow margin 0.00% 48.75% 0.00%
Return on equity 11.83% 12.76% 0.00%
Return on assets 0.71% 11.00% 0.00%
Return on invested capital 0.00% 11.41% 0.00%

Growth

Metric NMR TW Capital Markets median
Revenue growth (TTM) 9.61% 14.04% 21.02%
EPS growth (last fiscal year) 8.22% 62.23% —
Revenue growth, 5-year CAGR 15.62% 18.12% 18.16%
Net income growth, 5-year CAGR 10.68% 37.35% 0.00%

Health

Metric NMR TW Capital Markets median
Debt to equity 8.06 0.00 0.08
Current ratio 2.00 6.23 1.51
Net debt to EBITDA 1.52 (1.92) (0.24)

Dividend

Metric NMR TW Capital Markets median
Dividend yield 2.73% 0.40% 2.20%
Payout ratio 0.00 0.22 0.00

Size

Metric NMR TW Capital Markets median
Market cap 28.55b 23.67b 724.58m

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