Noah Holdings Limited

NYSE•NOAH

CEO: Ms. Jingbo Wang

Sector: Financial Services

Industry: Asset Management

Listing Date: 2010-11-10

Noah 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. It operates through three segments: Wealth Management, Asset Management, and Other Services. The company offers investment products, including domestic and overseas mutual fund products, private secondary products, and other products; customized value-added financial services, such as investor education and trust services, as well as insurance brokerage services; and insurance products. It also provides onshore and offshore private equity, real estate, public securities, multi-strategy, and other investment products, as well as lending services. The company was founded in 2005 and is headquartered in Shanghai, the People's Republic of China.

Contact Information

No.1226, South Shenbin Road, Minhang District, Shanghai, 200090, China

86-21-8035--8292

www.noah-fund.com

Market Cap

$786.30M

P/E (TTM)

1.7

Dividend Yield

9.8%

52W High

$12.84

52W Low

$7.67

52W Range

79%

Rank30Top 19.5%

5.1

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Average • 5.1 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$88.44M-7.43%

4-Quarter Trend

EPS

$2.19+64.40%

4-Quarter Trend

FCF

$0.00+0.00%

4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Net Income Drops Sharply Net income attributable to shareholders was RMB 475.4M in 2024, down 52.9% from RMB 1,009.5M in 2023.

Total Net Revenues Decline Total Net Revenues decreased 21.1% to RMB 2.60B in 2024, primarily due to lower wealth management one-time commissions.

Asset Management AUM Stable Total Asset Management AUM slightly decreased to RMB 151.5B as of December 31, 2024, with Olive reaching RMB 42.6B.

Risk Factors

PRC VIE Structure Uncertainty Reliance on Contractual Arrangements creates uncertainty; PRC government action could invalidate control structure and impact financial performance.

HFCAA Delisting Potential Future PCAOB inspection failure could prohibit ADS trading in the United States, materially affecting investment value.

Wealth Management Revenue Pressure Transaction value dropped 13.8% in 2024, primarily due to decreased distribution of domestic mutual fund products.

Outlook

New Business Segmentation Adopted Revenues now disclosed under six domestic/overseas segments plus Headquarters starting Q4 2024 for clearer performance insight.

Expanding Overseas Asset Management Accelerating Olive's overseas offerings to offset RMB private equity fundraising absence and strengthen global capabilities.

2025 Capital Expenditure Planned Expect capital expenditure of approximately RMB37.0M (US$5.1M) in 2025, primarily for headquarters renovation and upgrade.

Peer Comparison

Revenue (TTM)

CPSS

$434.47M

+10.4%

NOAH

$350.70M

-8.0%

MRBK

$205.49M

+4.1%

Gross Margin (Latest Quarter)

CPSS

100.0%

-5.1pp

OXSQ

85.2%

-65.2pp

NOAH

80.1%

+0.1pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
NOAH	$786.30M	1.7	6.6%	0.5%
MRBK	$221.26M	9.9	11.8%	6.5%
PEBK	$198.19M	15.6	13.5%	0.9%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-0.8%

Flat Growth

4Q Net Income CAGR

26.0%

Profitability Improved

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:Mar 24, 2026

EPS:-

Revenue:-

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data