Noah Holdings Limited(NOAH)Earnings, Financials & Key Ratios

NOAH•NYSE•Banking & Credit

1.8× P/E·Price updated Jun 19, 2026

SectorFinancial Services IndustryAsset Management Sub-IndustryWealth managers and broker platforms

AboutNoah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses. It offers investment products, including domestic and overseas publicly-raised and public securities investment funds, privately-raised investment funds, and private equity products; customized value-added financial services, such as investor education and trust services, as well as insurance brokerage services; and insurance products. The company also provides onshore and offshore private equity, real estate, public securities, multi-strategy, and other investment products, as well as lending services. Noah Holdings Limited was founded in 2005 and is headquartered in Shanghai, the People's Republic of China.Show more

Net Interest Income$128M-18.1%
Total Revenue$2.61B+0.4%
Net Income$559M+17.5%
Return on Equity5.59%+20.1%
Net Interest Margin1.09%-17.9%
Efficiency Ratio23.64%-0.5%
ROA4.75%+22.2%
Equity / Assets85.03%
Book Value per Share709.54-0.1%

NOAH Key Insights

Noah Holdings Limited (NOAH) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 9/9
✓Efficient operations: 23.6% efficiency ratio
✓Well capitalized: 85.0% equity/assets
✓Diversified revenue: 95.1% from non-interest income
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak NIM of 1.1%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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NOAH Price & Volume

Noah Holdings Limited (NOAH) stock price & volume — 10-year historical chart

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NOAH Growth Metrics

Noah Holdings Limited (NOAH) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years2.1%

5 Years-4.61%

3 Years-5.57%

TTM-

Profit CAGR

10 Years0.42%

5 Years-

3 Years-16.98%

TTM17.51%

EPS CAGR

10 Years-1.72%

5 Years-

3 Years-18.64%

TTM17.46%

Return on Capital

10 Years13.03%

5 Years10.06%

3 Years7.88%

Last Year7.04%

NOAH Recent Earnings

Noah Holdings Limited (NOAH) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 0/12 qtrs (0%)●Beat Revenue 2/12 qtrs (29%)

Q2 2026Latest

May 27, 2026

Metric

Actual

Est

EPS

$0.28

—

Rev

$91M

—

Q2 2026

Mar 24, 2026

Metric

Actual

Est

EPS

$0.05

—

Rev

$105M+16.6%

$90M

Q4 2025

Nov 25, 2025

Metric

Actual

Est

EPS

$0.46

—

Rev

$89M

—

Q3 2025

Aug 27, 2025

Metric

Actual

Est

EPS

$0.37

—

Rev

$88M

—

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 27, 2026	$0.28	$91M
Q2 2026	Mar 24, 2026	$0.05	$105Mvs $90M+16.6%
Q4 2025	Nov 25, 2025	$0.46	$89M
Q3 2025	Aug 27, 2025	$0.37	$88M

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
LULufax Holding LtdDirect Competitor	524.09M	1.25	-1.78	-32.51%	-10.59%	-3.8%	0.99
JFINJiayin Group Inc.Direct Competitor	209.42M	4.01	6.52	-85.08%	24.72%	37.66%	0.16
CNFCNFinance Holdings LimitedDirect Competitor	1.04M	3.09	-0.02	-60.88%	-14.04%	-1.25%	1.18
BENFranklin Resources, Inc.Product Competitor	17.17B	33.05	36.32	3.45%	8.99%	5.64%	0.94
IVZInvesco Ltd.Product Competitor	12.5B	28.14	-17.58	5.11%	-3.69%	-1.74%	0.78
AMGAffiliated Managers Group, Inc.Product Competitor	9.42B	352.90	15.52	19.83%	30.92%	16.01%	0.61
APAMArtisan Partners Asset Management Inc.Product Competitor	2.53B	35.88	8.86	7.63%	23.96%	44.91%	0.52
FUTUFutu Holdings LimitedSupply Chain	13.49B	96.64	9.46	67.83%	44.27%	26.38%	0.44

Compare NOAH vs Peers

Noah Holdings Limited (NOAH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs LU

Most directly comparable listed peer for NOAH.

Scale Benchmark

vs MS

Larger-name benchmark to compare NOAH against a more recognizable public peer.

Peer Set

Compare Top 5

vs LU, JFIN, CNF, BEN

NOAH Income Statement

Noah Holdings Limited (NOAH) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Net Interest Income	20.89M	59.81M	88.67M	67.32M	71.87M	61.42M	161.93M	155.75M	127.55M
NII Growth %	3.17%	186.3%	48.24%	-24.08%	6.76%	-14.54%	163.65%	-3.81%	-18.11%
Net Interest Margin %	0.32%	0.75%	0.9%	0.72%	0.66%	0.52%	1.28%	1.32%	1.09%
Interest Income	45.02M	69.84M	89.1M	67.32M	71.87M	61.42M	161.93M	155.75M	127.55M
Interest Expense	24.13M	10.03M	430K	0	0	0	0	0	0
Loan Loss Provision	1.38B	1.55B	1.61B	699.41M	2.17B	1.44B	1.46B	1.35B	1.22B
Non-Interest Income	2.78B	3.22B	3.3B	3.24B	4.22B	3.04B	3.13B	2.45B	2.48B
Non-Interest Income %	98.41%	97.88%	97.37%	97.96%	98.33%	98.02%	95.09%	94.01%	95.11%
Total Revenue	2.83B▲ 0%	3.29B▲ 16.4%	3.39B▲ 3.1%	3.31B▼ 2.5%	4.29B▲ 29.9%	3.1B▼ 27.8%	3.29B▲ 6.3%	2.6B▼ 21.1%	2.61B▲ 0.4%
Revenue Growth %	12.47%	16.37%	3.11%	-2.54%	29.86%	-27.78%	6.27%	-21.06%	0.36%
Non-Interest Expense	642.5M	798.89M	866.08M	1.35B	925.32M	570.04M	740.03M	617.64M	617.02M
Efficiency Ratio	22.73%	24.29%	25.53%	40.77%	21.55%	18.39%	22.46%	23.75%	23.64%
Operating Income	777.03M▲ 0%	926.52M▲ 19.2%	914.97M▼ 1.2%	1.26B▲ 37.5%	1.2B▼ 4.7%	1.09B▼ 9.2%	1.1B▲ 0.9%	633.89M▼ 42.3%	776.66M▲ 22.5%
Operating Margin %	27.49%	28.17%	26.98%	38.07%	27.93%	35.11%	33.32%	24.37%	29.75%
Operating Income Growth %	16.45%	19.24%	-1.25%	37.54%	-4.73%	-9.21%	0.87%	-42.26%	22.52%
Pretax Income	868.81M▲ 0%	1.01B▲ 16.4%	1.08B▲ 7.1%	-485.06M▼ 144.8%	1.6B▲ 429.9%	1.24B▼ 22.6%	1.26B▲ 2.0%	755.6M▼ 40.2%	855.03M▲ 13.2%
Pretax Margin %	30.73%	30.75%	31.95%	-14.67%	37.27%	39.95%	38.35%	29.05%	32.76%
Income Tax	199.09M	222.32M	220.03M	258.46M	293.94M	267.11M	262.36M	268.59M	297.81M
Effective Tax Rate %	22.91%	21.98%	20.3%	-53.28%	18.37%	21.56%	20.77%	35.55%	34.83%
Net Income	762.92M▲ 0%	811.3M▲ 6.3%	829.15M▲ 2.2%	-745.23M▼ 189.9%	1.31B▲ 276.3%	976.57M▼ 25.7%	1.01B▲ 3.4%	475.44M▼ 52.9%	558.86M▲ 17.5%
Net Margin %	26.99%	24.66%	24.45%	-22.54%	30.61%	31.5%	30.64%	18.28%	21.41%
Net Income Growth %	18.5%	6.34%	2.2%	-189.88%	276.34%	-25.69%	3.37%	-52.9%	17.54%
Net Income (Continuing)	761.86M	803.75M	863.76M	-743.52M	1.31B	971.59M	1B	487M	557.22M
EPS (Diluted)	63.09▲ 0%	66.67▲ 5.7%	67.05▲ 0.6%	-60.05▼ 189.6%	97.25▲ 261.9%	71.40▼ 26.6%	72.65▲ 1.8%	33.75▼ 53.5%	38.45▲ 13.9%
EPS Growth %	17.71%	5.67%	0.57%	-189.56%	261.95%	-26.58%	1.75%	-53.54%	13.93%
EPS (Basic)	67.45	69.91	67.80	-60.05	97.80	71.45	72.65	34.00	38.80
Diluted Shares Outstanding	12.09M	12.28M	12.37M	12.41M	13.51M	13.68M	13.9M	14.09M	14.08M

NOAH Balance Sheet

Noah Holdings Limited (NOAH) balance sheet — assets, liabilities & shareholders' equity

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash & Short Term Investments	2.07B	3.15B	5.06B	5.12B	3.5B	4.72B	5.57B	5.1B	5.03B
Cash & Due from Banks	1.91B	2.7B	4.39B	5.01B	3.4B	4.4B	5.19B	3.82B	4.37B
Short Term Investments	160.34M	450.48M	671.26M	114.93M	92.8M	315.98M	379.46M	1.27B	657.98M
Total Investments	2.12B	2.85B	2.82B	1.92B	2.16B	2.58B	2.72B	3.62B	3.27B
Investments Growth %	78.63%	34.64%	-0.91%	-32.17%	12.92%	19.34%	5.21%	33.22%	-9.63%
Long-Term Investments	1.96B	2.4B	2.15B	1.8B	2.07B	2.27B	2.34B	2.34B	2.61B
Accounts Receivables	172.27M	279.88M	214.42M	428.6M	777.9M	912.29M	503.98M	473.49M	1.02B
Goodwill & Intangibles	0	0	0	0	0	0	0	0	0
Goodwill	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0
PP&E (Net)	303.35M	346.65M	648.51M	522.82M	2.8B	2.65B	2.62B	2.5B	2.46B
Other Assets	125.87M	49.97M	102.09M	148.29M	161.83M	124.12M	610.08M	137.29M	314.27M
Total Current Assets	4.04B	5.1B	6.73B	6.7B	5.52B	6.32B	7.12B	6.47B	6.05B
Total Non-Current Assets	2.46B	2.91B	3.07B	2.7B	5.37B	5.48B	5.57B	5.3B	5.7B
Total Assets	6.49B▲ 0%	8.01B▲ 23.4%	9.8B▲ 22.3%	9.4B▼ 4.1%	10.89B▲ 15.9%	11.8B▲ 8.3%	12.69B▲ 7.5%	11.78B▼ 7.1%	11.75B▼ 0.3%
Asset Growth %	9.04%	23.39%	22.31%	-4.11%	15.85%	8.34%	7.52%	-7.15%	-0.26%
Return on Assets (ROA)	12.25%	11.18%	9.31%	-7.76%	12.95%	8.61%	8.25%	3.89%	4.75%
Accounts Payable	0	0	0	53.63M	71.59M	117.15M	104.48M	122.62M	126.19M
Total Debt	491.83M	145M	374.43M	280.86M	222.24M	177.99M	327.06M	135.99M	99.53M
Net Debt	-1.41B	-2.56B	-4.01B	-4.72B	-3.18B	-4.23B	-4.87B	-3.69B	-4.28B
Long-Term Debt	0	145M	0	0	0	0	0	0	0
Short-Term Debt	491.83M	0	0	0	0	10.46M	188.7M	15.38M	39.21M
Other Liabilities	113.66M	35.72M	3.43M	855K	100.02M	59.76M	27.66M	15.01M	1.38B
Total Current Liabilities	1.82B	1.59B	1.51B	1.88B	2.28B	1.9B	1.89B	1.43B	39.21M
Total Non-Current Liabilities	163.78M	247.81M	422.59M	241.12M	465.11M	392.7M	366.6M	336.83M	1.76B
Total Liabilities	1.99B	1.84B	1.93B	2.12B	2.75B	2.3B	2.26B	1.77B	1.76B
Total Equity	4.51B▲ 0%	6.18B▲ 37.0%	7.87B▲ 27.5%	7.28B▼ 7.6%	8.14B▲ 11.9%	9.5B▲ 16.7%	10.43B▲ 9.8%	10.01B▼ 4.0%	9.99B▼ 0.2%
Equity Growth %	32.92%	36.99%	27.52%	-7.59%	11.88%	16.69%	9.76%	-3.98%	-0.23%
Equity / Assets (Capital Ratio)	69.4%	77.05%	80.34%	77.42%	74.76%	80.53%	82.2%	85.01%	85.03%
Return on Equity (ROE)	19.32%	15.19%	11.8%	-9.84%	17.05%	11.07%	10.13%	4.65%	5.59%
Book Value per Share	372.74	502.71	636.64	586.50	602.52	694.52	750.35	710.43	709.54
Tangible BV per Share	372.74	502.71	636.64	586.50	602.52	694.52	750.35	710.43	709.54
Common Stock	96K	101K	103K	104K	104K	105K	110K	113K	113.07K
Additional Paid-in Capital	1.37B	1.9B	2.18B	3.57B	3.53B	3.8B	3.8B	3.91B	3.98B
Retained Earnings	2.88B	3.95B	4.73B	3.99B	5.19B	5.6B	6.44B	5.9B	5.82B
Accumulated OCI	213.42M	36.2M	97.05M	-79.11M	-140.01M	-2.55M	74.62M	186.55M	41.78M
Treasury Stock	-40.27M	-40.27M	0	-290.91M	-541.38M	0	0	-53.34M	-4.1M
Preferred Stock	0	0	0	0	0	0	0	0	0

NOAH Cash Flow Statement

Noah Holdings Limited (NOAH) cash flow — operating, investing & free cash flow history

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	628.38M	1.03B	1.29B	796.35M	1.52B	632.9M	1.32B	387.34M	976.61M
Operating CF Growth %	-8.43%	63.82%	25.15%	-38.18%	91.1%	-58.41%	108.3%	-70.62%	152.13%
Net Income	761.86M	803.75M	863.76M	-743.52M	1.31B	971.59M	1B	487M	557.22M
Depreciation & Amortization	81.96M	92.28M	105.43M	98.45M	146.57M	155.97M	158.08M	156.68M	156.9M
Deferred Taxes	-16.93M	-40.73M	-62.36M	-67.33M	-119.61M	-84.9M	0	0	0
Other Non-Cash Items	-348.26M	54.07M	351.04M	742.92M	-84.97M	-279.12M	121.43M	228.98M	184.51M
Working Capital Changes	56.11M	7.26M	-64.53M	-584.77M	202.82M	-172.93M	26.26M	-594.36M	11.1M
Cash from Investing	-833.86M	-395.68M	-182.01M	352.58M	-2.57B	74.29M	-247.14M	-840.82M	299.45M
Purchase of Investments	-1.19B	-241.14M	-1.7B	-231.45M	-145.56M	-81.73M	-532.16M	-1.74B	-1.47B
Sale/Maturity of Investments	965.9M	383.99M	1.56B	275.6M	138.2M	63.54M	297.18M	778.29M	1.97B
Net Investment Activity	-223.19M	142.85M	-144.27M	44.15M	-7.36M	-18.19M	-234.98M	-966.61M	500.87M
Acquisitions	-297.86M	-559.36M	124.51M	128.91M	-436K	-8.08M	-14.74M	12.33M	-64.18M
Other Investing	-160.09M	149.05M	-96.92M	231.15M	-293.08M	163.27M	160.5M	195.63M	-3.1M
Cash from Financing	-791.79M	109.83M	543.31M	-371.42M	-513.12M	233.76M	-199.84M	-1.13B	-635.55M
Dividends Paid	0	0	0	0	0	0	-177.5M	-1.01B	-546.77M
Share Repurchases	-31.29M	0	0	-281.61M	-372.38M	0	0	-53.34M	-52.3M
Stock Issued	0	0	0	0	0	247.01M	0	0	0
Net Stock Activity	-31.29M	0	0	-281.61M	-372.38M	247.01M	0	-53.34M	-52.3M
Debt Issuance (Net)	0	0	0	0	0	0	0	0	0
Other Financing	-760.5M	109.83M	543.31M	-89.81M	-140.75M	-13.25M	-22.33M	-73.01M	-36.48M
Net Change in Cash	-1.08B▲ 0%	799.84M▲ 174.3%	1.69B▲ 111.0%	628.77M▼ 62.7%	-1.61B▼ 356.1%	1.02B▲ 163.5%	919.44M▼ 10.0%	-1.52B▼ 264.8%	541.03M▲ 135.7%
Exchange Rate Effect	-79.49M	56.3M	37.81M	-148.75M	-46.71M	81.05M	48.1M	72.16M	-99.49M
Cash at Beginning	2.98B	1.91B	2.71B	4.39B	5.02B	3.41B	4.43B	5.35B	3.84B
Cash at End	1.91B	2.71B	4.39B	5.02B	3.41B	4.43B	5.35B	3.84B	4.38B
Interest Paid	23.74M	13.02M	430K	0	0	0	0	0	0
Income Taxes Paid	205.04M	211.5M	209.97M	310.59M	364.12M	407.49M	285.51M	203.67M	187.46M
Free Cash Flow	475.67M▲ 0%	901.16M▲ 89.5%	1.22B▲ 35.7%	744.74M▼ 39.1%	-749.38M▼ 200.6%	570.19M▲ 176.1%	1.16B▲ 103.5%	305.16M▼ 73.7%	842.47M▲ 176.1%
FCF Growth %	-18.67%	89.45%	35.7%	-39.1%	-200.62%	176.09%	103.51%	-73.7%	176.07%

NOAH Banking Ratios

Noah Holdings Limited (NOAH) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	21.73%	19.32%	15.19%	11.8%	-9.84%	17.05%	11.07%	10.13%	4.65%	5.59%
Return on Assets (ROA)	12.81%	12.25%	11.18%	9.31%	-7.76%	12.95%	8.61%	8.25%	3.89%	4.75%
Net Interest Margin	0.34%	0.32%	0.75%	0.9%	0.72%	0.66%	0.52%	1.28%	1.32%	1.09%
Efficiency Ratio	21.72%	22.73%	24.29%	25.53%	40.77%	21.55%	18.39%	22.46%	23.75%	23.64%
Equity / Assets	56.93%	69.4%	77.05%	80.34%	77.42%	74.76%	80.53%	82.2%	85.01%	85.03%
Book Value / Share	282.26	372.74	502.71	636.64	586.5	602.52	694.52	750.35	710.43	709.54
NII Growth	-14.37%	3.17%	186.3%	48.24%	-24.08%	6.76%	-14.54%	163.65%	-3.81%	-18.11%
Dividend Payout	-	-	-	-	-	-	-	17.58%	211.98%	97.84%

NOAH Frequently Asked Questions

Noah Holdings Limited (NOAH) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Noah Holdings Limited (NOAH) grew revenue by 0.4% over the past year. Growth has been modest.

Yes, Noah Holdings Limited (NOAH) is profitable, generating $558.7M in net income for fiscal year 2025 (21.4% net margin).

Dividend & Returns

Yes, Noah Holdings Limited (NOAH) pays a dividend with a yield of 56.37%. This makes it attractive for income-focused investors.

Noah Holdings Limited (NOAH) has a return on equity (ROE) of 5.6%. This is below average, suggesting room for improvement.

Industry Metrics

Noah Holdings Limited (NOAH) has a net interest margin (NIM) of 1.1%. NIM has been under pressure due to interest rate environment.

Noah Holdings Limited (NOAH) has an efficiency ratio of 23.6%. This is excellent, indicating strong cost control.

What if you invested $1,000 in NOAH back in 2007?

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Noah Holdings Limited(NOAH)Earnings, Financials & Key Ratios

NOAH•NYSE•Banking & Credit

1.8× P/E·Price updated Jun 19, 2026

SectorFinancial Services IndustryAsset Management Sub-IndustryWealth managers and broker platforms

Net Interest Income$128M-18.1%
Total Revenue$2.61B+0.4%
Net Income$559M+17.5%
Return on Equity5.59%+20.1%
Net Interest Margin1.09%-17.9%
Efficiency Ratio23.64%-0.5%
ROA4.75%+22.2%
Equity / Assets85.03%
Book Value per Share709.54-0.1%