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 | CNY 781.2M | CNY 2.6B |
| Net income | CNY -196.0M | CNY 558.9M |
| Gross margin | 49.1% | — |
| Net margin | −58.7% | 21.3% |
| Return on equity | −20.4% | 5.7% |
| Diluted EPS | −CNY 25.86 | CNY 1.59 |
| Dividend / share | — | — |
| Payout ratio | — | 97.8% |
| Free cash flow | CNY 65.9M | CNY 842.5M |
| Equity | CNY 636.1M | CNY 9.8B |
| Net debt / equity | −0.00× | — |
| 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.
Revenue by year
8 years side by side
| Fiscal year | MAAS | NOAH |
|---|---|---|
| FY2024 | CNY 781.2M | CNY 2.6B |
| FY2023 | CNY 963.2M | CNY 3.3B |
| FY2022 | CNY 114.4M | CNY 3.1B |
| FY2021 | CNY 188.7M | CNY 4.3B |
| FY2020 | CNY 9,000 | CNY 3.3B |
| FY2019 | CNY 129.5M | CNY 3.4B |
| FY2018 | CNY 203.2M | CNY 3.3B |
| FY2017 | CNY 165.8M | CNY 2.8B |
Net income by year
Bottom line
| Fiscal year | MAAS | NOAH |
|---|---|---|
| FY2024 | CNY -196.0M | CNY 475.4M |
| FY2023 | CNY -289.7M | CNY 1.0B |
| FY2022 | CNY -43.6M | CNY 976.6M |
| FY2021 | CNY -60.7M | CNY 1.3B |
| FY2020 | CNY -46.4M | CNY -745.2M |
| FY2019 | CNY -32.9M | CNY 829.2M |
| FY2018 | CNY 52.0M | CNY 811.3M |
| FY2017 | CNY 64.6M | CNY 762.9M |