MARKETS / NYSE / NOAH
NYSE · INVESTMENT ADVICE · MID CAP

Noah Holdings Ltd. NOAH

17 fiscal years on record · CNY · FY2025 reported
SEC FILINGS ONLY
Revenue · FY2025
¥2.6B
▲ 0.4% vs FY2024
EPS · FY25
Dividend / sh · FY25
Payout · FY25
98%
ROE · FY25
5.7%
Net margin · FY25
21.4%
Dividend coverage
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Result
CNY 2.6B
Revenue, FY2025 · full 17-year series below
Revenue Net income
2462.60.62009201220152018202120242025
2462.60.62016201920222025

21 cents of every revenue dollar became profit this year.

Per share
Diluted EPS, FY2025
EPS
0.40.81.22009201220152018202120242025
0.40.81.22016201920222025

The company pays no cash dividend.

Profitability
5.7%
Return on equity, FY2025
ROE
40801201605.7%2009201220152018202120242025
40801201605.7%2016201920222025
Operating margin29.8%
Net margin21.4%
Return on assets4.8%

Each CNY of equity produced 6 cents of profit this year.

Returned to shareholders
CNY 599.1M
returned in FY2025 · dividends + net buybacks
Dividends paidCNY 546.8M
Net buybacksCNY 52.3M
Share of profit107.2%
Consecutive raises

CNY 546.8M in dividends and CNY 52.3M in buybacks — 107% of the year's profit, so the payout drew on cash built up earlier.

Growth
−4.6% a year
revenue, compounded over five years
CAGR
3 yrs
5 yrs
10 yrs
15 yrs
Revenue
−5.6%
−4.6%
+8.9%
+34.4%
Net income
−17.0%
+0.4%
+29.5%
EPS, diluted
−17.8%
Returned to shareholders
+19.3%
+31.0%

Compound annual rates per period — left blank where the series crosses a loss.

Share base
Shares outstanding, FY2025
Change, 5 years+0.9%
Change, 10 years

The share count grew 1% in five years — the same company, cut into more, smaller slices.

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Balance sheet
CNY 11.7B
total assets, end of FY2025
Total assetsCNY 11.7B
EquityCNY 9.8B
CashCNY 4.4B
Current ratio4.46×

Equity funds 84% of total assets.

History
17 fiscal years
Every figure from documents filed with the SEC · CNY
Metric
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
Revenue ¥B
2.6
2.6
3.3
3.1
4.3
3.3
3.4
3.3
2.8
2.5
1.1
0.8
0.6
0.1
0.1
0.0
0.0
Operating income ¥B
0.8
0.6
1.1
1.1
1.2
1.3
0.9
0.9
0.8
0.7
0.6
0.6
0.4
0.0
0.0
0.0
0.0
EBITDA ¥B
0.9
0.8
1.3
1.2
1.3
1.4
1.0
1.0
0.9
0.7
0.6
0.6
0.4
0.0
0.0
0.0
·
Income tax ¥B
0.3
0.3
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.2
0.1
0.2
0.1
0.0
0.0
0.0
0.0
Net income ¥B
0.6
0.5
1.0
1.0
1.3
−0.7
0.8
0.8
0.8
0.6
0.5
0.4
0.3
0.0
0.0
0.0
0.0
EPS, diluted ¥
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Dividend / sh ¥
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Payout %
98
212
18
·
·
·
·
·
·
·
·
0
15
34
·
·
·
ROE %
5.7
4.7
10.2
11.2
17.3
−10.5
12.9
15.8
19.7
22.3
24.9
43.0
158.9
13.7
16.4
16.8
66.6
Shares out B
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·

Slide the table for earlier years · "·" marks figures not disclosed in the filing for that year.

How we verifyAUDITED
47 of 49
checks passed before publication
EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidity

Every figure was compared against the original statement: 2 failures and 0 presentation gaps.

What we don’t show

We’d rather say what’s missing than fill the gap with an estimate.

P/E rationeeds a market quote — not yet licensed
Market capitalizationneeds a market quote — not yet licensed
Dividend yieldneeds a market quote — not yet licensed
Price-to-bookneeds a market quote — not yet licensed