(NOAH) Noah Holdings - Overview

Sector: Financial Services | Industry: Asset Management | Exchange: NYSE (USA) | Market Cap: 784m USD | Total Return: 20.2% in 12m

Stock Wealth Management, Asset Management, Lending
Total Rating 36
Safety 64
Buy Signal -0.57
Asset Management +6.7
Asset Management & Custody Banks +6.7
Market Cap: 784m
Avg Trading Vol: 1.55M USD
ATR: 4.47%
Peers RS (IBD): 48.0
Risk 5d forecast
Volatility56.5%
Rel. Tail Risk-10.9%
Reward TTM
Sharpe Ratio0.46
Alpha-11.09
Character TTM
Beta1.016
Beta Downside1.405
Drawdowns 3y
Max DD44.80%
CAGR/Max DD-0.10
EPS (Earnings per Share) EPS (Earnings per Share) of NOAH over the last years for every Quarter: "2021-03": 1.03, "2021-06": 5, "2021-09": 4.2, "2021-12": 4.28, "2022-03": 4.65, "2022-06": 5.28, "2022-09": 0.37, "2022-12": 0.29, "2023-03": 0.51, "2023-06": 4.51, "2023-09": 0.46, "2023-12": 4.3108, "2024-03": 2.6211, "2024-06": 1.9563, "2024-09": 2.14, "2024-12": 0.26, "2025-03": 0.3078, "2025-06": 2.69, "2025-09": 0.437, "2025-12": 0,
EPS CAGR: -62.28%
EPS Trend: -37.5%
Last SUE: 0.00
Qual. Beats: 0
Revenue Revenue of NOAH over the last years for every Quarter: 2021-03: 1224.736, 2021-06: 899.389, 2021-09: 908.915, 2021-12: 1260.054, 2022-03: 795.692, 2022-06: 738.142, 2022-09: 684.468, 2022-12: 882.07, 2023-03: 803.473, 2023-06: 941.757, 2023-09: 749.958, 2023-12: 799.508, 2024-03: 649.535, 2024-06: 615.854, 2024-09: 683.686, 2024-12: 651.907, 2025-03: 614.594, 2025-06: 629.501, 2025-09: 632.899, 2025-12: 726.841674,
Rev. CAGR: -2.38%
Rev. Trend: -61.0%
Last SUE: -0.03
Qual. Beats: 0
Description: NOAH Noah Holdings

Noah Holdings Ltd. (NOAH) is a Chinese wealth and asset management firm. It serves high-net-worth individuals and corporate clients.

The company operates in three segments: Wealth Management, Asset Management, and Other Services. Wealth management firms typically offer a range of financial products and advisory services.

NOAHs offerings include mutual funds, private secondary products, insurance brokerage, and trust services. Asset management involves managing investment portfolios for clients.

Its asset management segment provides private equity, real estate, public securities, and multi-strategy products. Lending services are also offered.

For more detailed financial analysis, consider ValueRay.

Headlines to Watch Out For
  • Wealth Management fees drive primary revenue growth
  • Asset Management performance impacts fee income
  • Chinese regulatory changes pose significant risk
  • Global economic slowdown reduces client investment
  • Competition from other wealth managers pressures margins
Piotroski VR‑10 (Strict) 5.5
Net Income: 558.7m TTM > 0 and > 6% of Revenue
FCF/TA: 0.03 > 0.02 and ΔFCF/TA 2.57 > 1.0
NWC/Revenue: 181.0% < 20% (prev 194.0%; Δ -12.99% < -1%)
CFO/TA 0.03 > 3% & CFO 387.3m > Net Income 558.7m
Net Debt (-4.31b) to EBITDA (633.4m): -6.81 < 3
Current Ratio: 4.52 > 1.5 & < 3
Outstanding Shares: last quarter (14.1m) vs 12m ago -95.74% < -2%
Gross Margin: 78.11% > 18% (prev 0.54%; Δ 7.76k% > 0.5%)
Asset Turnover: 22.13% > 50% (prev 22.08%; Δ 0.05% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM)
Altman Z'' 4.69
A: 0.40 (Total Current Assets 6.05b - Total Current Liabilities 1.34b) / Total Assets 11.75b
B: 0.50 (Retained Earnings 5.82b / Total Assets 11.75b)
C: 0.07 (EBIT TTM 770.5m / Avg Total Assets 11.76b)
D: 0.00 (Book Value of Equity 113k / Total Liabilities 1.76b)
Altman-Z'' Score: 4.69 = AA
Beneish M -2.25
DSRI: 2.15 (Receivables 1.02b/473.5m, Revenue 2.60b/2.60b)
GMI: 0.70 (GM 78.11% / 54.48%)
AQI: 1.16 (AQ_t 0.28 / AQ_t-1 0.24)
SGI: 1.00 (Revenue 2.60b / 2.60b)
TATA: 0.01 (NI 558.7m - CFO 387.3m) / TA 11.75b)
Beneish M-Score: -2.25 (Cap -4..+1) = BBB
What is the price of NOAH shares? As of April 04, 2026, the stock is trading at USD 9.90 with a total of 234,384 shares traded.
Over the past week, the price has changed by -0.79%, over one month by -11.56%, over three months by -10.62% and over the past year by +20.21%.
Is NOAH a buy, sell or hold? Noah Holdings has received a consensus analysts rating of 3.60. Therefor, it is recommend to hold NOAH.
  • StrongBuy: 2
  • Buy: 1
  • Hold: 1
  • Sell: 0
  • StrongSell: 1
What are the forecasts/targets for the NOAH price?
Wallstreet Target Price 13.7 38%
Analysts Target Price 13.7 38%
NOAH Fundamental Data Overview as of 01 April 2026
P/E Trailing = 9.7105
P/E Forward = 7.6687
P/S = 0.2655
P/B = 0.521
P/EG = 0.7473
Revenue TTM = 2.60b USD
EBIT TTM = 770.5m USD
EBITDA TTM = 633.4m USD
 Long Term Debt = unknown (none)
 Short Term Debt = unknown (none)
 Debt = 60.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -4.31b USD (from netDebt column, last quarter)
Enterprise Value = -4.19b USD (783.9m + Debt 60.4m - CCE 5.03b)
 Interest Coverage Ratio = unknown (Ebit TTM 770.5m / Interest Expense TTM 0.0)
 EV/FCF = -13.73x (Enterprise Value -4.19b / FCF TTM 305.2m)
FCF Yield = -7.29% (FCF TTM 305.2m / Enterprise Value -4.19b)
FCF Margin = 11.72% (FCF TTM 305.2m / Revenue TTM 2.60b)
Net Margin = 21.46% (Net Income TTM 558.7m / Revenue TTM 2.60b)
Gross Margin = 78.11% ((Revenue TTM 2.60b - Cost of Revenue TTM 569.9m) / Revenue TTM)
Gross Margin QoQ = none% (prev 80.07%)
 Tobins Q-Ratio = -0.36 (set to none) (Enterprise Value -4.19b / Total Assets 11.75b)
 Interest Expense / Debt = 31.96% (Interest Expense 19.3m / Debt 60.4m)
Taxrate = 34.83% (289.7m / 831.7m)
NOPAT = 502.1m (EBIT 770.5m * (1 - 34.83%))
Current Ratio = 4.52 (Total Current Assets 6.05b / Total Current Liabilities 1.34b)
Debt / Equity = 0.01 (Debt 60.4m / totalStockholderEquity, last quarter 9.99b)
Debt / EBITDA = -6.81 (Net Debt -4.31b / EBITDA 633.4m)
Debt / FCF = -14.14 (Net Debt -4.31b / FCF TTM 305.2m)
Total Stockholder Equity = 9.89b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.75% (Net Income 558.7m / Total Assets 11.75b)
RoE = 5.65% (Net Income TTM 558.7m / Total Stockholder Equity 9.89b)
RoCE = 7.40% (EBIT 770.5m / Capital Employed (Total Assets 11.75b - Current Liab 1.34b))
RoIC = 10.01% (NOPAT 502.1m / Invested Capital 5.02b)
WACC = 10.37% (E(783.9m)/V(844.2m) * Re(9.56%) + D(60.4m)/V(844.2m) * Rd(31.96%) * (1-Tc(0.35)))
Discount Rate = 9.56% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 0.64%
[DCF] Terminal Value 60.75% ; FCFF base≈184.2m ; Y1≈120.9m ; Y5≈55.3m
[DCF] Fair Price = 76.94 (EV 777.4m - Net Debt -4.31b = Equity 5.09b / Shares 66.2m; r=10.37% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: -37.54 | EPS CAGR: -62.28% | SUE: 0.0 | # QB: 0
Revenue Correlation: -60.98 | Revenue CAGR: -2.38% | SUE: -0.03 | # QB: 0
EPS next Year (2026-12-31): EPS=11.06 | Chg7d=+0.223 | Chg30d=+0.246 | Revisions Net=+2 | Growth EPS=+15.1% | Growth Revenue=+5.2%
External Resources
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