MAAS vs NOAH
Maase Inc. and Noah Holdings Ltd., side by side — 8 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | MAAS | NOAH |
|---|---|---|
| Revenue | ¥781.2M | ¥2.6B |
| Net income | ¥-196.0M | ¥558.9M |
| Gross margin | 82.3% | 94.2% |
| Net margin | −25.1% | 21.4% |
| Return on equity | −20.4% | 5.7% |
| Diluted EPS | −¥25.86 | — |
| Dividend / share | — | — |
| Payout ratio | — | 97.8% |
| Free cash flow | ¥65.9M | ¥842.5M |
| Equity | ¥636.1M | ¥9.8B |
| Net debt / equity | −0.00× | −0.87× |
| Current ratio | 3.84× | 4.46× |
| Revenue CAGR 5y | 43.3% | −4.6% |
| Profit CAGR 5y | — | — |
NOAH bills 3.3× the revenue of MAAS, and MAAS closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
8 years side by side
| Fiscal year | MAAS | NOAH |
|---|---|---|
| FY2024 | ¥781.2M | ¥2.6B |
| FY2023 | ¥963.2M | ¥3.3B |
| FY2022 | ¥114.4M | ¥3.1B |
| FY2021 | ¥188.7M | ¥4.3B |
| FY2020 | ¥9,000 | ¥3.3B |
| FY2019 | ¥129.5M | ¥3.4B |
| FY2018 | ¥203.2M | ¥3.3B |
| FY2017 | ¥165.8M | ¥2.8B |
Net income by year
Bottom line
| Fiscal year | MAAS | NOAH |
|---|---|---|
| FY2024 | ¥-196.0M | ¥475.4M |
| FY2023 | ¥-289.7M | ¥1.0B |
| FY2022 | ¥-43.6M | ¥976.6M |
| FY2021 | ¥-60.7M | ¥1.3B |
| FY2020 | ¥-46.4M | ¥-745.2M |
| FY2019 | ¥-32.9M | ¥829.2M |
| FY2018 | ¥52.0M | ¥811.3M |
| FY2017 | ¥64.6M | ¥762.9M |
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