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STOCK COMPARISON

International Business Machines vs Nomura Research Institute Ltd: Fair Value & Quality

Both stocks run through our valuation models. Here is how International Business Machines (IBM) and Nomura Research Institute Ltd (NRILY) compare, as of Sep 8, 2026.

As of Sep 8, 2026, Fair Value Calculator sees International Business Machines as the less overvalued of the two: International Business Machines trades at $235 versus a fair value of $176 (-25%), while Nomura Research Institute Ltd trades at $33.34 versus $24.01 (-28%).
International Business Machines
IBM · USD · Information Technology
-25%
upside to fair value
overvalued
Price$235
Fair Value$176
Quality67/100
Nomura Research Institute Ltd
NRILY · USD · Information Technology
-28%
upside to fair value
overvalued
Price$33.34
Fair Value$24.01
Quality69/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

International Business MachinesNomura Research Institute Ltd
Valuation
25.7×P/E (TTM)208.4×
2.96×P/S (TTM)
6.25×P/B
14.8×EV/EBITDA
2.71×PEG0.38×
−25.2%Fair value upside−28.0%
2.9%Dividend yield1.7%
$6.72Dividend per share$77.00
Profitability
14%Operating margin18%
1.63×EBIT margin trend (5Y)1.19×
36%Return on equity4%
5%Return on assets10%
Growth
10%Revenue growth (YoY)8%
3.7%Avg. growth/yr (3Y)7.7%
-1.7%Avg. growth/yr (5Y)9.4%
+16.1%Value creation/yr−19.3%
Balance & size
5.3×Interest coverage (EBIT/interest)33.6×
1.68×Debt / equity0.44×
$204BMarket cap$16B
weakGrowth qualitymixed

Nomura Research Institute Ltd leads: 5 to 8 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

International Business Machinesof which business quality 61 · market factors 35 Nomura Research Institute Ltdof which business quality 68 · market factors 49
ProfitabilityMargins and returns on capital today
59
39
Quality GrowthAre margins and returns improving?
68
52
CashflowEarnings quality: real cash, not paper profit
70
85
Fin. StrengthBalance sheet, leverage, solvency risk
39
70
InvestmentDisciplined investing over empire-building
66
87
Low VolatilityCalm price path (market factor)
54
62
MomentumPrice trend over the last 3–12 months (market factor)
28
46
52W MomentumDistance to the 52-week high (market factor)
25
40
Net IssuanceBuybacks instead of dilution
69
87

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyInternational Business MachinesPrice $235Nomura Research Institute LtdPrice $33.34
DCF Models-27%below the price$170+267%above the price$122
Earnings-Based-64%below the price$84.63-65%below the price$11.79
Dividend Discount-68%below the price$76.30n/a
Multiples-12%close to the price$206+101%above the price$66.89
Asset-Based-90%below the price$23.27-54%below the price$15.48
Growth DCF-47%below the price$125+286%above the price$129
Economic Profit-64%below the price$84.51+41%above the price$46.94
Growth Earnings+1%close to the price$237-38%below the price$20.66
Minimum-90%below the price$23.27-65%below the price$11.79
Maximum+1%close to the price$237+286%above the price$129
Median-55%below the price$105+41%above the price$46.94
Geometric mean-56%below the price$103+22%above the price$40.73

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

International Business Machines: 21 of 24 models see the stock below the current price.

Nomura Research Institute Ltd: 9 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

International Business Machines
Bear $111Fair Value $176Bull $273
$235 = current price (white tick)
Nomura Research Institute Ltd
Bear $16.60Fair Value $24.01Bull $31.42
$33.34 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

International Business Machines · Information Technology

Quality score67 · Top 25%
Fair value upside-25% · above median

Nomura Research Institute Ltd · Information Technology

Quality score69 · Top 25%
Fair value upside-28% · above median

Bottom line

As of Sep 8, 2026, Fair Value Calculator sees International Business Machines as the less overvalued of the two: International Business Machines trades at $235 versus a fair value of $176 (-25%), while Nomura Research Institute Ltd trades at $33.34 versus $24.01 (-28%).

Nomura Research Institute Ltd has the higher quality score (69/100).

See the full analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.