Last 47 quarters of trend data · Financial Services · Asset Managers & Custodians
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 1.08 | 0.15 | 0.28 | 2.79 | 0.19 | 0.24 | 0.22 | 0.38 | 0.32 | 0.34 | 0.30 | 0.22 | 0.19 | 0.15 | 0.24 | 0.39 | 0.25 | 0.20 | 0.26 | 0.74 | 0.46 |
| — | -36.9% | +23.5% | +643.1% | -42.3% | -31.3% | -26.3% | +69.6% | +73.9% | +121.2% | +28.9% | -42.6% | -26.1% | -20.8% | -9.4% | -47.7% | -45.3% | -62.5% | -21.2% | — | +62.5% | |
| P/S Ratio | 0.24 | 0.06 | 0.06 | 0.05 | 0.06 | 0.07 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.05 | 0.07 | 0.06 | 0.07 | 0.09 | 0.10 | 0.08 | 0.14 |
| — | -16.7% | +1.8% | -23.2% | +1.4% | +20.4% | -11.6% | +5.4% | +10.2% | +6.5% | -14.2% | -1.9% | -13.8% | -43.8% | -28.2% | -25.8% | -51.6% | -47.9% | -18.5% | -47.9% | +46.9% | |
| P/B Ratio | 0.07 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.04 | 0.05 | 0.06 |
| — | -16.5% | +5.9% | -14.1% | -8.1% | +24.0% | -13.4% | -10.5% | +5.9% | -27.4% | -36.5% | -19.0% | -13.1% | -37.2% | -36.4% | -55.5% | -69.4% | -63.4% | -54.8% | -38.5% | +38.7% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | 0.77 | 2.01 | 0.67 | 10.72 | 1.73 | — | 0.16 | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | -55.5% | — | +321.2% | — | — | — | -48.4% | — | — | |
| EV / EBITDA | -4.27 | -3.17 | -4.32 | -9.00 | -5.26 | -5.57 | -5.21 | -6.40 | -3.31 | -6.31 | -7.61 | -4.49 | -4.73 | -3.20 | -3.93 | -3.87 | -4.35 | -2.23 | -2.38 | -2.99 | -2.37 |
| — | +43.0% | +17.0% | -40.6% | -59.0% | +11.8% | +31.5% | -42.5% | +30.1% | -97.5% | -93.4% | -15.9% | -8.9% | -43.3% | -65.3% | -29.6% | -83.2% | -59.1% | -21.6% | — | +17.3% | |
| EV / EBIT | -4.67 | -3.17 | -4.32 | -9.00 | -5.26 | -5.57 | -5.21 | -6.40 | -3.31 | -8.23 | -10.08 | -5.29 | -4.73 | -3.20 | -3.93 | -4.56 | -4.35 | -2.51 | -2.69 | -2.99 | -2.37 |
| — | +43.0% | +17.0% | -40.6% | -59.0% | +32.4% | +48.3% | -20.9% | +30.1% | -157.7% | -156.3% | -16.0% | -8.9% | -27.5% | -46.5% | -52.6% | -83.2% | -78.8% | -30.9% | — | +17.3% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.4% | 58.0% | 83.6% | 97.0% | 80.1% | 52.5% | 80.1% | -43.7% | 79.9% | 78.6% | 40.1% | 62.4% | 75.2% | 59.1% | 53.9% | 83.4% | 49.9% | 51.5% | 55.0% | 42.0% | 49.4% |
| — | +10.6% | +4.5% | +322.1% | +0.1% | -33.3% | +99.4% | -170.0% | +6.3% | +33.1% | -25.6% | -25.2% | +50.8% | +14.7% | -2.0% | +98.6% | +1.0% | -8.0% | +4.9% | -21.2% | -14.5% | |
| Operating Margin | 29.8% | 34.8% | 37.8% | 34.6% | 27.2% | 25.6% | 30.3% | 21.1% | 35.2% | 21.8% | 18.7% | 27.6% | 33.2% | 37.1% | 34.7% | 24.9% | 33.9% | 43.8% | 39.4% | 10.5% | 25.2% |
| — | +36.1% | +24.8% | +64.0% | -22.9% | +17.6% | +61.8% | -23.6% | +6.1% | -41.4% | -46.1% | +10.8% | -2.0% | -15.2% | -12.0% | +137.3% | +34.5% | +17.4% | -3.9% | -70.2% | -37.7% | |
| Net Margin | 21.4% | 37.5% | 19.9% | 1.7% | 34.5% | 28.4% | 24.2% | 16.8% | 19.7% | 16.2% | 20.2% | 27.1% | 31.1% | 33.5% | 30.4% | 15.9% | 26.7% | 47.3% | 38.4% | 22.3% | 30.1% |
| — | +32.0% | -17.8% | -89.7% | +75.6% | +75.1% | +19.7% | -37.8% | -36.8% | -51.6% | -33.4% | +70.7% | +16.7% | -29.2% | -20.8% | -29.0% | -11.3% | +39.2% | +3.5% | +113.5% | -9.6% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.6% | 2.4% | 1.3% | 0.1% | 2.2% | 1.8% | 1.5% | 1.1% | 1.4% | 1.0% | 1.3% | 2.1% | 2.3% | 3.2% | 2.6% | 1.5% | 2.0% | 4.0% | 3.7% | 3.5% | 3.5% |
| — | +32.7% | -15.2% | -88.6% | +61.3% | +82.8% | +17.6% | -46.9% | -39.6% | -69.1% | -50.8% | +41.8% | +14.9% | -20.8% | -30.6% | -57.8% | -43.4% | -2.4% | -41.3% | +116.0% | -14.0% | |
| ROA | 4.8% | 2.0% | 1.1% | 0.1% | 1.9% | 1.5% | 1.3% | 0.9% | 1.1% | 0.8% | 1.0% | 1.7% | 1.9% | 2.5% | 2.0% | 1.2% | 1.6% | 3.2% | 2.8% | 2.7% | 2.7% |
| — | +32.1% | -15.2% | -88.5% | +67.4% | +91.0% | +21.8% | -44.9% | -39.5% | -69.0% | -49.2% | +42.1% | +14.0% | -19.5% | -26.9% | -55.1% | -40.8% | +0.5% | -41.7% | +116.0% | -10.8% | |
| ROIC | 5.8% | 1.7% | 1.8% | 1.9% | 1.3% | 1.2% | 1.4% | 1.0% | 1.8% | 1.0% | 0.9% | 1.6% | 1.8% | 2.6% | 2.2% | 1.7% | 1.9% | 2.7% | 2.8% | 1.2% | 2.2% |
| — | +36.9% | +29.0% | +81.7% | -29.1% | +22.7% | +60.4% | -34.1% | +1.5% | -62.4% | -60.4% | -8.4% | -3.3% | -4.4% | -22.0% | +42.2% | -13.3% | -17.2% | -45.1% | -64.2% | -39.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.03 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 | 0.03 | 0.02 |
| — | -25.4% | -16.2% | -26.6% | -24.9% | +27.3% | -5.7% | -56.7% | +5.7% | -27.6% | -31.6% | +67.4% | -29.5% | -27.7% | -60.8% | -31.4% | -45.5% | -51.5% | -0.2% | -29.3% | -51.9% | |
| Debt / EBITDA | 0.11 | 0.16 | 0.22 | 0.87 | 0.35 | 0.43 | 0.34 | 0.99 | 0.32 | 0.31 | 0.44 | 1.26 | 0.31 | 0.23 | 0.34 | 0.69 | 0.44 | 0.26 | 0.59 | 0.96 | 0.68 |
| — | -63.9% | -35.6% | -12.0% | +7.6% | +37.3% | -21.2% | -21.3% | +3.7% | +38.8% | +29.4% | +82.7% | -28.7% | -14.2% | -43.2% | -28.4% | -36.0% | -47.6% | +73.7% | — | -18.2% | |
| Current Ratio | 4.46 | 3.40 | 4.75 | 4.46 | 4.77 | 3.85 | 4.81 | 4.53 | 4.43 | 2.99 | 4.12 | 3.76 | 3.48 | 3.21 | 3.17 | 3.32 | 3.68 | 3.25 | 2.63 | 2.42 | 2.88 |
| — | -11.7% | -1.2% | -1.6% | +7.5% | +28.7% | +16.9% | +20.4% | +27.3% | -6.9% | +30.0% | +13.5% | -5.4% | -1.2% | +20.5% | +37.2% | +28.0% | +17.6% | -17.1% | -32.2% | -50.8% | |
| Quick Ratio | 4.46 | 3.40 | 4.75 | 4.46 | 4.77 | 3.85 | 4.81 | 4.53 | 4.43 | 2.99 | 4.12 | 3.76 | 3.48 | 3.21 | 3.17 | 3.32 | 3.68 | 3.25 | 2.63 | 2.42 | 2.88 |
| — | -11.7% | -1.2% | -1.6% | +7.5% | +28.7% | +16.9% | +20.4% | +27.3% | -6.9% | +30.0% | +13.5% | -5.4% | -1.2% | +20.5% | +37.2% | +28.0% | +17.6% | -17.1% | -32.2% | -50.8% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying NOAH stock.
Noah Holdings Limited's current P/E is 1.1x. The average P/E over the last 4 quarters is 0.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Noah Holdings Limited's current operating margin is 29.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Noah Holdings Limited's business trajectory between earnings reports.