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Noah Holdings
(NYSE:NOAH)
Noah Holdings (NOAH) vs. SPDR S&P 500 ETF (SPY)
Noah Holdings Business Overview & Revenue Model
Noah Holdings Earnings Call Summary
Noah Holdings Financial Statement Overview
| 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
Noah Holdings Risk Analysis
Noah Holdings Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $702.69M | 8.21 | 11.92% | 11.47% | -12.17% | -14.93% | |
73 Outperform | $791.19M | 25.90 | 10.40% | 4.56% | 81.45% | -26.75% | |
70 Outperform | $818.32M | 9.09 | 9.07% | 10.80% | -6.30% | -6.92% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $666.73M | 8.79 | 8.46% | 14.71% | -8.32% | -33.94% | |
65 Neutral | $813.38M | 9.06 | 6.53% | 11.65% | -7.77% | 13.95% | |
62 Neutral | $854.32M | 9.16 | 8.18% | 13.18% | -26.08% | -27.65% |
Noah Holdings Corporate Events
Noah Holdings Limited reported in a January 30, 2026 filing that there were no changes to its total issued share capital on the Hong Kong Stock Exchange as of January 28, 2026, with the number of issued ordinary shares remaining at 335,258,287. However, the company disclosed that between December 23, 2025 and January 28, 2026 (U.S. Eastern Time), it actively repurchased a series of ADSs on the New York Stock Exchange under a shareholder mandate granted on June 12, 2025, with these ADSs representing multiple tranches of ordinary shares that have been redeemed or repurchased for cancellation but had not yet been cancelled by the reporting date, signaling an ongoing capital management effort likely aimed at enhancing shareholder value and tightening its free float without immediately altering the headline share count reported in Hong Kong.
The most recent analyst rating on (NOAH) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On January 29, 2026, Noah Holdings Limited reported to the U.S. SEC that its issued ordinary share count on the Hong Kong Stock Exchange remained unchanged at 335,258,287 shares as of January 27, 2026. The filing detailed an ongoing series of share repurchases conducted on the New York Stock Exchange between December 23, 2025, and January 27, 2026, under a mandate approved on June 12, 2025, involving multiple small daily buybacks of American depositary shares representing ordinary shares that are earmarked for cancellation but had not yet been cancelled by the reporting date. This sustained repurchase activity signals continued capital management efforts that could support earnings per share and reflects management’s confidence in the company’s valuation, while having only a modest impact on the overall share base to date.
The most recent analyst rating on (NOAH) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
In a filing dated January 28, 2026, Noah Holdings Limited reported that its total number of issued ordinary shares remained unchanged at 335,258,287 as of January 26, 2026, with no variation in the aggregate issued share capital during the disclosed period. However, between December 23, 2025, and January 26, 2026 (U.S. Eastern Time), the company actively repurchased American Depositary Shares on the New York Stock Exchange under a share repurchase mandate approved at its June 12, 2025 annual general meeting, acquiring multiple small tranches that together represented several hundred thousand ordinary shares, all earmarked for cancellation but not yet cancelled as of the reporting date; this continued buyback activity underscores management’s ongoing capital management efforts and may be supportive of shareholder value by gradually reducing the company’s free-float over time.
The most recent analyst rating on (NOAH) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
Noah Holdings reported in a January 26, 2026 filing that its issued share capital on the Hong Kong Stock Exchange remained unchanged at 335,258,287 ordinary shares as of January 22, 2026, with no treasury shares recorded. However, between December 23, 2025 and January 22, 2026 (U.S. Eastern Time), the company actively repurchased ADSs on the New York Stock Exchange under a share repurchase mandate approved at its June 12, 2025 annual general meeting, with each ADS representing five ordinary shares, resulting in multiple tranches of shares that have been bought back for cancellation but not yet cancelled. The series of buybacks, executed at prices around US$2.10–US$2.31 per ordinary share, modestly reduced the company’s free float and signals ongoing capital management efforts that may support shareholder value while leaving the total number of issued shares temporarily unchanged pending formal cancellation.
The most recent analyst rating on (NOAH) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On January 22, 2026, Noah Holdings Private Wealth and Asset Management Limited filed a Next Day Disclosure Return in Hong Kong and Noah Holdings Limited furnished a related Form 6-K in the United States, detailing recent repurchases of American depositary shares (ADSs) on the New York Stock Exchange under a share repurchase mandate granted at the company’s June 12, 2025 annual general meeting. Between December 23, 2025 and January 21, 2026 (U.S. Eastern Time), the company bought back multiple tranches of ADSs representing ordinary shares at prices around US$2.0–2.3 per underlying share, while the total number of issued ordinary shares reported as of January 20–21, 2026 remained at 335,258,287, indicating the repurchased shares were earmarked for cancellation but had not yet been cancelled; the program underscores management’s ongoing capital-return efforts and may have implications for earnings per share and shareholder value once cancellations are completed.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
In a regulatory filing dated January 22, 2026, Noah Holdings Limited disclosed that its issued share capital on the Hong Kong Stock Exchange remained unchanged at 335,258,287 ordinary shares as of January 20, 2026, but detailed an ongoing series of share repurchases conducted via ADS buybacks on the New York Stock Exchange from December 23, 2025 through January 20, 2026. Over this period, the company repurchased multiple tranches of ADSs, together representing a series of relatively small incremental reductions in its ordinary share float that had been approved under a mandate granted at its June 12, 2025 annual general meeting; these shares have been earmarked for cancellation but were not yet cancelled as of the reporting date, signalling continued capital management efforts that may support earnings per share and indicate management’s confidence in the firm’s valuation to existing shareholders.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
Noah Holdings reported that its issued ordinary share count on the Hong Kong Stock Exchange remained unchanged at 335,258,287 shares as of January 15, 2026, but detailed a series of share repurchases for cancellation conducted on the New York Stock Exchange between December 23, 2025, and January 15, 2026. Over this period, the company bought back multiple tranches of ADSs—each representing five ordinary shares—under a repurchase mandate approved at its June 12, 2025 annual general meeting, with individual transactions representing small fractions of total share capital and priced around USD 2 per underlying share. The disclosure, filed on January 20, 2026, underscores Noah’s ongoing capital management efforts and signals continued use of buybacks as a tool to return value to shareholders and potentially support its share price across its U.S. and Hong Kong listings.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On January 16, 2026, Noah Holdings Limited filed a Form 6-K in the United States disclosing a Hong Kong Stock Exchange Next Day Disclosure Return that detailed recent share repurchase activity by Noah Holdings Private Wealth and Asset Management Limited. The filing shows that while the company’s total issued ordinary shares remained at 335,258,287 as of January 14, 2026, Noah has been actively repurchasing its American Depositary Shares on the New York Stock Exchange for cancellation under a mandate approved at its June 12, 2025 annual general meeting. Between December 23 and 29, 2025, and from January 2 through January 14, 2026 (U.S. Eastern Time), the company bought back multiple tranches of ADSs, together representing hundreds of thousands of underlying ordinary shares at prices generally around US$2.00 to US$2.24 per share, signalling ongoing capital management efforts and a continued return of capital to shareholders without yet reducing the reported issued share count as of the latest disclosure date.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
In a filing dated January 15, 2026, Noah Holdings Limited reported that its Hong Kong-listed subsidiary, Noah Holdings Private Wealth and Asset Management Limited, had no change in its total issued ordinary share capital up to January 13, 2026, while detailing a series of ADS repurchases on the New York Stock Exchange between December 23, 2025 and January 13, 2026. Over this period, the company bought back multiple tranches of ADSs, together representing relatively small percentages of its issued ordinary shares, at prices generally around US$2.00 per underlying share, under a repurchase mandate approved at its June 12, 2025 annual general meeting; the repurchased shares are designated for cancellation but had not yet been cancelled as of the latest reporting date, indicating an ongoing capital management effort that marginally reduces free float and may support shareholder value without materially altering the firm’s overall share structure.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
Noah Holdings disclosed that, as of January 12, 2026 (U.S. Eastern Time), it had conducted a series of share repurchases on the New York Stock Exchange under a mandate approved at its June 12, 2025 annual general meeting, involving multiple buybacks of American depositary shares representing ordinary shares between December 23, 2025 and January 12, 2026. While these repurchased shares had not yet been cancelled as of the latest reporting date, the company confirmed that its issued share capital in Hong Kong remained unchanged at 335,258,287 ordinary shares as of January 12, 2026, signalling continued execution of its capital management programme and potential incremental enhancement of shareholder value through reduced free float once the cancellations are completed.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
In a regulatory filing dated January 12, 2026, Noah Holdings Limited reported that its Hong Kong-listed unit, Noah Holdings Private Wealth and Asset Management Limited, maintained 335,258,287 issued ordinary shares as of January 8, 2026, with no change in the total number of issued or treasury shares despite recent buyback activity. The disclosure details a series of share repurchases conducted between December 23, 2025 and January 8, 2026 on the New York Stock Exchange under a previously approved mandate, covering multiple tranches of American depositary shares equivalent to hundreds of thousands of ordinary shares that have been bought back for cancellation but were not yet cancelled as of the reporting date, signaling ongoing capital management efforts that may support shareholder value and earnings per share over time once cancellations are completed.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On January 9, 2026, Noah Holdings Limited filed a Form 6-K in the United States reporting a Next Day Disclosure Return dated January 8, 2026, detailing recent share repurchase activity for its Hong Kong-listed subsidiary Noah Holdings Private Wealth and Asset Management Limited. The filing shows that between December 23 and 29, 2025, and January 2, 5, 6 and 7, 2026 (U.S. Eastern Time), the company repurchased multiple tranches of ADSs on the New York Stock Exchange, together representing several hundred thousand ordinary shares to be cancelled, at volume-weighted average prices around US$2.00–US$2.24 per ordinary share, without changing the total issued share count as of January 7, 2026, which remained at 335,258,287 ordinary shares. Executed under a share repurchase mandate approved at the June 12, 2025 annual general meeting, these buybacks form part of the group’s capital management strategy and, once cancellations are completed, are expected to reduce the free float modestly and be marginally supportive of per-share metrics for existing shareholders.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On January 8, 2026, Noah Holdings Limited filed a Form 6-K reporting recent share repurchase activity and related disclosure filings with the Hong Kong Stock Exchange. According to the Next Day Disclosure Returns dated January 7, 2026, the company carried out a series of buybacks of its American depositary shares on the New York Stock Exchange between December 23 and December 29, 2025, and on January 2 and January 5, 2026, under a repurchase mandate approved at its June 12, 2025 annual general meeting. These transactions, covering several tranches of ADSs representing relatively small percentages of the company’s total issued share capital, are intended for cancellation and signal ongoing capital management efforts, while leaving Noah’s total issued ordinary share count unchanged at 335,258,287 as of January 5, 2026.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On January 5, 2026, Noah Holdings Limited filed a Form 6-K in the United States disclosing that its Hong Kong-listed unit, Noah Holdings Private Wealth and Asset Management Limited (stock code 06686), had repurchased additional American depositary shares (ADSs) on the New York Stock Exchange for subsequent cancellation under an existing share repurchase mandate. The filing shows that, while the company’s total issued ordinary shares remained at 335,258,287 as of January 2, 2026, the group bought back 28,918 ADSs, representing 144,590 ordinary shares, on January 2, 2026 (U.S. Eastern Time) at a price of USD 2.101 per share, following earlier buybacks between December 23 and December 29, 2025. These repurchases, though small in percentage terms of total share capital, signal ongoing capital management efforts that may support earnings per share and reflect management’s confidence in the company’s valuation for investors across its dual listings.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On December 31, 2025, Noah Holdings Private Wealth and Asset Management Limited increased its issued share capital by 2,706,880 new ordinary shares, representing about 0.814% of its previously issued share base, taking the total number of issued shares to 335,258,287 as of that date. The shares were issued under an existing issuance mandate approved at the 2025 annual general meeting as part of the vesting of restricted share units granted under a prior settlement plan to affected clients who had accepted a settlement offer as of April 16, 2025, underscoring Noah’s use of equity to fulfill client settlement obligations and slightly diluting existing shareholders while advancing the completion of its settlement program.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On December 30, 2025, Noah Holdings reported that its issued share capital remained unchanged at 332,551,407 ordinary shares as of December 29, 2025, while detailing recent share repurchase activity conducted on the New York Stock Exchange under a mandate approved at its June 12, 2025 annual general meeting. Between December 23 and December 29, 2025 (U.S. Eastern Time), the group repurchased a total of 181,180 ordinary shares equivalent (via ADSs), including 142,885 ordinary shares bought on December 29 at USD 1.999 per share for an aggregate USD 285,555.67, with all repurchased shares designated for cancellation; these moves signal ongoing capital management efforts that may modestly enhance earnings per share and reflect management’s confidence in the company’s valuation, though they represent only a small fraction of total shares outstanding.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On December 23, 2025, Noah Holdings Private Wealth and Asset Management Limited repurchased 28,267 American depositary shares, equivalent to 141,335 ordinary shares, on the New York Stock Exchange under a repurchase mandate approved on June 12, 2025. The buyback, executed at a weighted average price of US$9.876 per ADS (US$1.975 per ordinary share) for a total consideration of about US$279,000, represented approximately 0.043% of the company’s issued share capital at the time and will be cancelled, with the company confirming compliance with Hong Kong listing rules and U.S. market regulations. Although the transaction did not change the total number of issued shares as of the disclosure date, the move signals continued implementation of Noah’s capital management program and may be viewed by investors as a sign of management’s confidence in the firm’s valuation and long-term prospects.
The most recent analyst rating on (NOAH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
On December 20, 2025 (U.S. Eastern Time), Noah Holdings Limited granted 20,000 restricted share units, representing 200,000 shares or about 0.06% of its issued share capital (excluding treasury shares), to two employee participants under its 2022 Share Incentive Plan as part of a broader effort to support its globalization strategy. The RSUs, which carry no purchase price, vest 25% immediately and the remainder in equal tranches over the following three years, subject to continued employment, tailored performance targets linked to metrics such as group revenue and adjusted net income, and strict compliance and clawback provisions, underscoring the company’s emphasis on aligning key overseas talent with long‑term shareholder value and operational goals while tightly managing conduct and performance risk.
The most recent analyst rating on (NOAH) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
In November 2025, Noah Holdings Limited reported movements in its share capital, with the total number of issued shares increasing to 331,686,407. The company executed a significant cancellation of 6,762,680 treasury shares on November 21, 2025, which were previously repurchased on the New York Stock Exchange. This adjustment reflects the company’s strategic management of its share capital and could impact its market positioning by optimizing its capital structure.
The most recent analyst rating on (NOAH) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
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.
The most recent analyst rating on (NOAH) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
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.
The most recent analyst rating on (NOAH) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
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.
The most recent analyst rating on (NOAH) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.
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.
The most recent analyst rating on (NOAH) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Noah Holdings stock, see the NOAH Stock Forecast page.