Nomura Holdings Inc ADR (NMR) is undervalued and Charles Schwab Corp (SCHW) is undervalued.
Against our estimates of intrinsic value, NMR trades at the wider discount: a margin of safety of +56%, against +33% for SCHW.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 5.7% values the shares at $22.48; the price of $9.96 is 56% below that value, and 88% of that value comes from beyond year five.
Leak Score 41/100 on 3 of 12 signals
Discounting its cash flows at 8.7% (average of 3 methods) values the shares at $150.35; the price of $100.35 is 33% below that value, and 77% of that value comes from beyond year five.
Leak Score 86/100 on 9 of 12 signals
| Metric | NMR | SCHW |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $9.96 | $100.35 |
| Intrinsic value | $22.48 | $150.35 |
| Margin of safety | +56% | +33% |
| Leak Score | 41/100 (3/12) | 86/100 (9/12) |
| Market cap | $29.1B | $173.5B |
| Revenue growth, 5 years | 15.7% | 18.0% |
| Operating margin | 11.9% | 49.7% |
| Net margin | 8.1% | 33.1% |
| Return on equity | 10.9% | 20.3% |
| Debt to equity | 10.19 | 0.74 |
| P/E | 11.6x | 18.3x |
| Forward P/E | 10.4x | 12.7x |
| P/B | 1.2x | 4.0x |
| Dividend yield | 3.9% | 1.3% |