Nomura Holdings Inc ADR (NMR) vs XP Inc. (XP)

Nomura Holdings Inc ADR and XP Inc. are both Capital Markets companies. Nomura Holdings Inc ADR is the larger, with a market value of $27.1B against $15.5B — 1.7× the size. Nomura Holdings Inc ADR trades at the lower P/E: 9.4× against 15.1×. XP Inc. grew revenue faster over the last twelve months: 18.2% against 9.61%. XP Inc. has the higher net margin (27.8% vs 8.90%) and the higher return on invested capital (20.5% vs 0.00%). Both pay a dividend; Nomura Holdings Inc ADR yields more (1.62% vs 1.30%). Across the 21 metrics below, XP Inc. leads on 13 and Nomura Holdings Inc ADR on 8.

Valuation

Metric NMR XP Capital Markets median
P/E 9.43 15.12 14.20
P/S 0.82 4.15 2.00
P/B 1.07 3.05 1.51
Price to free cash flow 5.05 6.36 6.36
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 10.61% 6.61% (3.94%)
Free cash flow yield 19.82% 15.72% (1.62%)

Profitability

Metric NMR XP Capital Markets median
Gross margin 95.73% 100.00% 62.80%
Operating margin 73.13% 33.63% 0.00%
Net margin 8.90% 27.84% (0.55%)
Free cash flow margin 0.00% 65.15% 0.00%
Return on equity 11.83% 22.76% 0.00%
Return on assets 0.71% 1.37% 0.00%
Return on invested capital 0.00% 20.52% 0.00%

Growth

Metric NMR XP Capital Markets median
Revenue growth (TTM) 9.61% 18.17% 20.70%
EPS growth (last fiscal year) 8.22% 13.73% 22.92%
Revenue growth, 5-year CAGR 15.62% 15.82% 18.16%
Net income growth, 5-year CAGR 10.68% 18.11% 0.00%

Health

Metric NMR XP Capital Markets median
Debt to equity 8.06 0.07 0.08
Current ratio 2.00 4.80 1.50
Net debt to EBITDA 1.52 (1.52) (0.24)

Dividend

Metric NMR XP Capital Markets median
Dividend yield 1.62% 1.30% 1.36%
Payout ratio 0.15 0.20 0.19

Size

Metric NMR XP Capital Markets median
Market cap 27.12b 15.53b 565.91m

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