Noah Holdings Limited (NOAH)

Noah Holdings Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	2,612	2,610	2,601	3,295	3,100	4,293
Revenue Growth	1.24%	0.36%	-21.05%	6.27%	-27.78%	29.86%
Gross Profit Gross Profit Growth	1,472	1,394	1,252	1,838	1,658	2,124
Operating Income Operating Income Growth	881.87	776.66	633.89	1,098	1,088	1,199
Net Income Net Income Growth	588.22	558.86	475.45	1,009	976.57	1,314
Earnings Per Share EPS Growth	8.44	7.95	6.75	14.53	14.29	19.45
EPS Growth	4.20%	17.78%	-53.55%	1.67%	-26.52%	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024
Headquarters Headquarters Growth	44.94	52.37	45.18
Mainland China Asset Management Mainland China Asset Management Growth	688.31	692.47	772.11
International Insurance and Comprehensive Services International Insurance and Comprehensive Services Growth	167.78	178.79	138.87
International Asset Management International Asset Management Growth	531.72	553.94	438.51
Mainland China Public Securities Mainland China Public Securities Growth	721.52	566.49	488.75
Mainland China Insurance Mainland China Insurance Growth	8.43	18.65	42.87
International Wealth Management International Wealth Management Growth	449.1	547.54	674.7
Total Total Growth	2,612	2,610	2,601

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	5,034	5,018	5,097	5,572	4,720	3,497
Total Debt Total Debt Growth	51.02	103.37	135.99	327.06	177.99	233.08
Net Cash (Debt) Net Cash Growth	4,983	4,915	4,961	5,245	4,542	3,264
Net Cash Growth	-6.93%	-0.92%	-5.41%	15.47%	39.14%	-32.21%
Net Cash Per Share Net Cash Per Share Growth	71.34	69.82	70.40	75.48	66.41	48.31

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	-	976.61	387.34	1,318	632.9	1,522
Capital Expenditures CapEx Growth	-	-134.14	-82.18	-157.92	-62.71	-2,271
Free Cash Flow Free Cash Flow Growth	-	842.47	305.16	1,160	570.19	-749.38
Free Cash Flow Growth	-	176.07%	-73.70%	103.51%	-	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	56.34%	53.39%	48.12%	55.78%	53.49%	49.48%
Operating Margin	33.77%	29.75%	24.37%	33.32%	35.11%	27.93%
Pretax Margin	35.19%	32.76%	29.05%	38.35%	39.95%	37.27%
Profit Margin	22.52%	21.41%	18.28%	30.64%	31.50%	30.61%
FCF Margin	-	32.27%	11.73%	35.22%	18.39%	-17.46%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 3, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Dividend Per Share Dividend Per Share Growth	0.694	4.665	4.140	7.750	2.750
Dividend Per Share Growth	16.40%	12.68%	-46.58%	181.82%	-
Dividend Yield	8.32%	7.63%	6.12%	12.54%	4.18%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 3, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	6.72	8.38	11.89	6.36	6.99	6.67
Forward PE	5.76	6.65	8.64	5.67	5.70	8.04
P/FCF Ratio	4.55	5.56	18.52	5.54	11.98	-
PS Ratio	1.48	1.79	2.17	1.95	2.20	2.04

Data Source: S&P Global Market Intelligence Last updated: Aug 25, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 31, 2026

Data Sources Report a data error