Noah Holdings Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Transaction-Based Revenues	2,630	2,621	3,318	3,129	4,327
Other Revenues	-19.55	-20.35	-23.13	-28.51	-33.51
Revenue	2,610	2,601	3,295	3,100	4,293
Revenue Growth (YoY)	0.36%	-21.06%	6.27%	-27.78%	29.86%
Cost of Revenue	1,217	1,349	1,457	1,442	2,011
Gross Profit	1,394	1,252	1,838	1,658	2,282
Selling, General & Admin	548.4	565.79	761.51	584.33	820.45
Other Operating Expenses	68.63	51.85	-21.48	-14.29	104.86
Operating Income	776.66	633.89	1,098	1,088	1,199
Interest Income	159.8	205.9	100.44	146.97	137.29
Other Non-Operating Income (Expense)	-80.04	27.81	10.89	-85.87	-38.15
Total Non-Operating Income (Expense)	79.76	233.72	111.33	61.1	99.14
Pretax Income	856.43	867.61	1,209	1,150	1,298
Provision for Income Taxes	297.81	268.59	262.36	267.11	293.94
Net Income	558.86	475.45	1,009	976.57	1,314
Minority Interest in Earnings	-0.24	123.57	-62.61	-94.13	-310.03
Net Income to Common	558.86	475.45	1,009	976.57	1,314
Net Income Growth	17.54%	-52.90%	3.37%	-25.69%	-
Shares Outstanding (Basic)	70	70	69	68	67
Shares Outstanding (Diluted)	70	70	69	68	68
Shares Change (YoY)	-0.11%	1.42%	1.59%	1.23%	8.90%
EPS (Basic)	8.00	6.80	14.55	14.30	19.55
EPS (Diluted)	7.95	6.75	14.55	14.30	19.45
EPS Growth	17.78%	-53.61%	1.75%	-26.48%	-
Shares Outstanding	66.67	66.08	65.26	62.6	60.16
Free Cash Flow	842.47	305.16	1,160	570.19	-749.38
Free Cash Flow Growth	176.07%	-73.70%	103.51%	-	-
Free Cash Flow Per Share	11.97	4.33	16.70	8.34	-11.09
Dividends Per Share	4.665	4.140	7.750	2.750	-
Dividend Growth	12.68%	-46.58%	181.82%	-	-
Gross Margin	53.39%	48.12%	55.78%	53.49%	53.16%
Operating Margin	29.75%	24.37%	33.32%	35.11%	27.93%
Profit Margin	21.35%	18.72%	30.38%	31.34%	30.42%
FCF Margin	32.28%	11.73%	35.22%	18.39%	-17.46%
EBITDA	933.57	790.57	1,256	1,244	1,345
EBITDA Margin	35.77%	30.40%	38.12%	40.14%	31.34%
EBIT	776.66	633.89	1,098	1,088	1,199
EBIT Margin	29.75%	24.37%	33.32%	35.11%	27.93%
Effective Tax Rate	34.77%	30.96%	21.70%	23.24%	22.64%

Updated Mar 24, 2026. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.

SEC Filings: 10-K · 10-Q