Noah Holdings Ltd (NOAH)
NYSE:NOAH
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Earnings Data
Report Date
Sep 02, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
0.4Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Q1 2026
Earnings Call Date:May 27, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call emphasized strong progress in margin expansion, cost efficiency, AI-driven productivity, domestic fundraising momentum, and measured overseas expansion (including licensing milestones). While top-line growth was modest and there were sequential revenue declines and non-operational volatility (mark-to-market and affiliate losses), management framed these as temporary or strategic (e.g., purposeful insurance revenue reduction and AI-driven restructuring). The balance of substantive operational and structural improvements (notably operating profit/margin expansion, transaction growth, AI proof points, and strong liquidity/shareholder returns) outweighs the listed challenges.Company Guidance
Stable Top-Line with Modest YoY Growth
Net revenues of RMB 626 million, up 1.8% year-over-year (down 14.7% quarter-over-quarter).
Material Operating Profit and Margin Expansion
Operating profit reached RMB 236 million, up 27.1% year-over-year. Operating margin expanded to 37.8% (one of the highest quarterly levels in recent years; up from 30.3% in Q1 last year).
Consistent Non-GAAP Profitability
Non-GAAP net income attributable to Noah was RMB 134 million. The company reported 62 consecutive quarters of non-GAAP profitability since listing.
Strong Client and Transaction Growth
Active clients grew to 10.7k (+21.8% YoY). Total transaction value was RMB 23.3 billion, up 44.8% year-over-year and 37.5% quarter-over-quarter.
Domestic Fund and Secondary Market Fundraising Momentum
RMB-denominated mutual fund transaction value reached RMB 9.9 billion (+131% YoY). RMB-denominated private secondary transaction value reached RMB 5.3 billion (+61% YoY). Noah Upright net revenues RMB 28 million (+63% YoY) driven by doubled public fund transaction volume.
Overseas AUA and Client Base Expansion
Overseas registered clients reached 20.4k (+11.9% YoY). Overseas AUA ~US$9.6 billion (+~5.9% YoY). Overseas AUM US$6.2 billion (+~5% YoY). US$-denominated transaction value for the quarter ~US$1.15 billion (broadly flat YoY).
Global Footprint and Licensing Milestones
Japan office commenced operations (May 4). U.S. broker-dealer license completed final approval; key team members joining in June — moving from license deployment to operational execution.
AI-Driven Productivity and Singapore Proof Point
AI initiatives reduced headcount while boosting productivity: group headcount ~2.6k (down 10.4% YoY). Singapore AUA grew ~192% YoY and revenue per capita reached 8.5x, validating AI-enhanced RM and AI wealth management department model.
Cost Efficiency and Expense Reductions
Total operating costs and expenses declined to RMB 389 million (down 9.2% YoY and 18.1% QoQ). Personnel costs declined 12.2% YoY to RMB 267 million. SG&A down 10.8% YoY and 35.1% QoQ.
Strong Liquidity and Shareholder Returns
Cash and cash equivalents reported at RMB 4.0 billion with short-term investments RMB 834 million (CEO cited total cash, cash equivalents and short-term investments ~RMB 5.13 billion). Board proposed special dividend to bring total payout to 100% of 2025 non-GAAP net income (pending approval). Cumulative ADS repurchases since 2020 ~3 million ADS (~US$35M+).
NOAH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NOAH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 27, 2026 | $10.10 | ― | ― |
Mar 25, 2026 | $11.33 | $9.89 | -12.71% |
Nov 26, 2025 | $10.37 | $10.37 | 0.00% |
Aug 28, 2025 | $11.81 | $12.45 | +5.42% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Noah Holdings Ltd (NOAH) report earnings?
Noah Holdings Ltd (NOAH) is schdueled to report earning on Sep 02, 2026, After Close (Confirmed).
What is Noah Holdings Ltd (NOAH) earnings time?
Noah Holdings Ltd (NOAH) earnings time is at Sep 02, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is NOAH EPS forecast?
Currently, no data Available