Noah Holdings (NOAH) AI Stock Analysis

• Market Cap: $764.43M
• Dividend Yield: 11.12%
• Average Volume (3M): 77.53K
• Price to Earnings (P/E): 8.0
• Beta (1Y): 1.10
• Revenue Growth: -7.61%
• EPS Growth: 14.20%
• Country: US
• Employees: 1,990
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.46
• Shares Outstanding: 66,337,280
• 10 Day Avg. Volume: 82,170
• 30 Day Avg. Volume: 77,525
• PEG Ratio: -0.05
• Price to Book (P/B): 0.12
• Price to Sales (P/S): 0.46
• P/FCF Ratio: 3.93
• Enterprise Value/Market Cap: 0.16
• Enterprise Value/Revenue: 0.05
• Enterprise Value/Gross Profit: 0.12
• Enterprise Value/Ebitda: 0.18
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 65 Neutral
• Price Target: $11.00 ▼(-2.91% Downside)

Noah Holdings' overall stock score reflects strong financial stability and attractive valuation, offset by technical weakness and revenue challenges. The company's strategic growth initiatives and profitability improvements are positive, but declining revenues and bearish technical indicators weigh on the score.

Positive Factors

Overseas Market Expansion

The significant growth in overseas markets indicates successful international expansion, diversifying revenue streams and reducing reliance on domestic markets.

Strong Cash Flow Generation

Robust operating cash flows provide financial flexibility, enabling the company to invest in growth opportunities and manage economic downturns effectively.

Strategic Partnerships

This partnership highlights Noah Holdings' commitment to innovation and diversification, potentially opening new revenue streams in the growing digital asset space.

Negative Factors

Declining Domestic Revenue

The significant decline in domestic revenue suggests challenges in the local market, which could impact overall revenue stability if not addressed.

Inconsistent Revenue Growth

Inconsistent revenue growth poses a risk to long-term profitability and could hinder strategic planning and investment in future initiatives.

Decline in Free Cash Flow

A decline in free cash flow may limit the company's ability to fund new projects and return capital to shareholders, affecting long-term financial health.

Noah Holdings Business Overview & Revenue Model

Company Description

Noah Holdings Limited (NOAH) is a leading wealth and asset management services provider in China, focusing on high-net-worth individuals and institutional clients. The company operates primarily in the financial services sector, offering a range of products including wealth management, investment advisory services, and private equity funds. Noah is known for its innovative investment solutions and access to alternative assets, which cater to the growing demand for diversified investment strategies among affluent clients.

How the Company Makes Money

Noah Holdings generates revenue through several key streams. Primarily, it earns fees from wealth management services, where it charges clients for advisory services and management of their investment portfolios. The company also collects performance-based fees from its private equity funds and other investment products, which are tied to the success of the investments managed. Additionally, Noah benefits from commissions and management fees associated with the sale of financial products, including mutual funds and insurance products. Strategic partnerships with financial institutions and asset managers enhance its product offerings and contribute to revenue growth. The firm’s focus on high-net-worth individuals allows it to command premium fees for its personalized and sophisticated investment solutions.

Noah Holdings Financial Statement Overview

Summary

Noah Holdings shows strong profitability and a solid balance sheet, with high margins and low debt levels. However, challenges include declining revenue and inconsistent cash flow generation, which could impact future financial stability.

Income Statement

Noah Holdings has experienced fluctuations in revenue over the years, with a notable decline in the most recent year. While the company maintains strong gross and net profit margins, the recent revenue decline and inconsistent revenue growth over the past few years present a challenge for future profitability. High margins indicate efficient cost management, but growth sustainability remains a concern.

Balance Sheet

The company exhibits a robust balance sheet with a strong equity base and low debt levels, leading to a favorable debt-to-equity ratio. The high equity ratio indicates financial stability, and the substantial cash position enhances liquidity. Despite these strengths, the declining trend in total assets and equity over the last two years poses potential risks to future growth.

Cash Flow

Noah Holdings demonstrates strong cash flow generation, particularly in operating cash flows, although there is a notable decrease in free cash flow in the latest year. The company has managed to maintain a healthy operating cash flow to net income ratio. However, the decline in free cash flow growth and increased financing outflows could impact future cash reserves.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.53B	2.60B	3.29B	3.10B	4.29B	3.31B
Gross Profit	1.04B	1.25B	1.84B	1.66B	2.12B	2.61B
EBITDA	656.50M	790.57M	1.26B	1.24B	1.35B	1.36B
Net Income	655.78M	475.44M	1.01B	976.57M	1.31B	-745.23M
Balance Sheet
Total Assets	11.55B	11.78B	12.69B	11.80B	10.89B	9.40B
Cash, Cash Equivalents and Short-Term Investments	4.99B	5.10B	5.57B	4.72B	3.50B	5.12B
Total Debt	59.63M	135.99M	327.06M	177.99M	222.24M	280.86M
Total Liabilities	1.65B	1.77B	2.26B	2.30B	2.75B	2.12B
Stockholders Equity	9.90B	9.95B	10.31B	9.41B	8.04B	7.19B
Cash Flow
Free Cash Flow	0.00	305.16M	1.16B	570.19M	-749.38M	744.74M
Operating Cash Flow	0.00	387.34M	1.32B	632.90M	1.52B	796.35M
Investing Cash Flow	0.00	-840.82M	-247.14M	74.29M	-2.57B	352.58M
Financing Cash Flow	0.00	-1.13B	-199.84M	233.76M	-513.12M	-371.42M

Noah Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.33
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NOAH, the sentiment is Negative. The current price of 11.33 is above the 20-day moving average (MA) of 10.81, above the 50-day MA of 11.25, and above the 200-day MA of 10.64, indicating a bearish trend. The MACD of -0.29 indicates Positive momentum. The RSI at 37.91 is Neutral, neither overbought nor oversold. The STOCH value of 22.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NOAH.

Noah Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NCDL	75 Outperform	$722.53M	9.52	8.46%	13.94%	-8.32%	-33.94%
VINP	73 Outperform	$770.32M	25.22	10.40%	4.93%	81.45%	-26.75%
SLRC	72 Outperform	$860.87M	9.56	9.07%	10.57%	-6.30%	-6.92%
FDUS	71 Outperform	$717.26M	8.38	11.92%	11.43%	-12.17%	-14.93%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
NOAH	65 Neutral	$764.43M	7.99	6.54%	11.12%	-7.61%	14.20%
BCSF	63 Neutral	$922.43M	9.89	8.18%	12.64%	-26.08%	-27.65%

Noah Holdings Corporate Events

Noah Holdings Reports Q3 2025 Financial Results with Increased Net Income

Noah Holdings Limited announced its unaudited financial results for the third quarter of 2025, reporting a net revenue of RMB632.9 million, a 7.4% decrease from the same period in 2024, mainly due to reduced revenues from insurance product distribution. Despite a decline in income from operations by 28.6%, the company saw a significant 62.6% increase in net income attributable to shareholders, driven by a rise in the fair value of investments in affiliates. The company also reported a 19.1% increase in the aggregate value of investment products distributed, with notable growth in private secondary products. Noah’s operational updates highlighted an increase in registered and active clients, with an expanded coverage network in mainland China.

Noah Holdings Cancels 6.7 Million Treasury Shares in Strategic Move

On November 21, 2025, Noah Holdings Limited announced the cancellation of 6,762,680 treasury shares, which were repurchased as American Depositary Shares (ADSs) on the New York Stock Exchange between December 2, 2024, and May 28, 2025. This move is part of the company’s strategic management of its share capital, potentially impacting its market positioning by optimizing its capital structure and enhancing shareholder value.

Noah Holdings to Announce Q3 2025 Financial Results

Noah Holdings announced that its board of directors will meet on November 25, 2025, to consider and approve the unaudited financial results for the third quarter of 2025. The results will be published on November 26, 2025, and a conference call will follow to discuss the outcomes and recent business activities. This announcement is significant for stakeholders as it provides insights into the company’s financial health and strategic direction.

Noah Holdings Reports Stable Share Capital for October 2025

Noah Holdings Limited submitted a monthly return for October 2025, detailing no changes in its authorized or issued share capital. The report, dated November 7, 2025, confirms compliance with Hong Kong Exchange listing rules and highlights the company’s stable share structure, with no new shares issued or treasury shares transferred during the month. This stability in share capital indicates a steady operational phase for the company, maintaining its market position without significant shifts in equity structure.

Noah Holdings Reports Share Increase for September 2025

Noah Holdings Limited reported a minor increase in its issued shares for September 2025, as disclosed in their monthly return to the Hong Kong Stock Exchange. The company issued an additional 28,860 ordinary shares, bringing the total to 337,654,818 shares, while the treasury shares remained unchanged. This adjustment reflects ongoing activities under their 2022 Share Incentive Plan and RSU Plan, which are part of their strategic initiatives to manage equity and incentivize stakeholders.

Noah Holdings Releases 2025 Interim Report

Noah Holdings Limited released its 2025 Interim Report on September 17, 2025. This report, filed under the Securities Exchange Act of 1934, highlights the company’s financial performance and strategic initiatives for the year. The release of this report is significant for stakeholders as it provides insights into the company’s operations and market positioning in the private wealth and asset management industry.

Noah Holdings Announces Share Issuance Under Settlement Plan

On September 12, 2025, Noah Holdings Limited announced changes in its issued shares as part of its New Settlement Plan. The company issued 28,860 new ordinary shares, representing a 0.0087% increase in its existing shares, under an issuance mandate approved at the 2025 annual general meeting. This move is part of a broader strategy to settle with affected clients, demonstrating Noah Holdings’ commitment to regulatory compliance and shareholder value enhancement.

Noah Holdings Reports August 2025 Share Movements

On September 5, 2025, Noah Holdings Limited reported its monthly return for equity issuers and Hong Kong Depositary Receipts for August 2025. The report highlighted a minor increase in issued shares, with a total of 39,970 new ordinary shares issued. This update reflects the company’s ongoing compliance with regulatory requirements and its efforts to manage share capital effectively, which could have implications for stakeholders regarding the company’s financial health and market strategies.