Is NMR or PIPR more undervalued in 2026?

CirclFi compares Nomura Holdings Inc (NMR) and Piper Sandler Companies (PIPR) using 13 institutional-grade valuation models. NMR has a Quality of Company score of 7.7/10 while PIPR scores 8.6/10.

Which is a better buy — NMR or PIPR?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do NMR and PIPR valuations compare?

NMR at $7.99 and PIPR at $79.23 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

NMR vs PIPR Valuation Comparison 2026 — Intrinsic Value Analysis

NMR

Capital Markets

Nomura Holdings Inc

Quality

7.7

out of 10

Value Trap

SAFE

Price

$7.99

Last close

Models

7/13

Active

PIPR

Capital Markets

Piper Sandler Companies

Quality

8.6

out of 10

Value Trap

LOW

Price

$79.23

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	NMR Fair Value	NMR Upside	PIPR Fair Value	PIPR Upside
Bayesian DCF	Intrinsic	—	—	$96.62	+22.0%
Earnings Power Value	Intrinsic	—	—	$24.33	-69.3%
EROIC Spread	Intrinsic	$19.45	+143.4%	$19.45	-75.5%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$41.06	+413.9%	$234.18	+195.6%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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NMR vs PIPR — Which Stock Is More Undervalued?

PIPR scores higher with a 8.6/10 quality rating vs NMR's 7.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Nomura Holdings Inc (NMR) and Piper Sandler Companies (PIPR) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

NMR currently trades at $7.99 with a QOC of 7.7/10, while PIPR trades at $79.23 with a QOC of 8.6/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).