Saturday 17 October 2026
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Noah Holdings Ltd.
NOAH Financial Asset Management
Noah Holdings Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $373.3 million, up 4.75% from fiscal 2024. In the quarter to June 2026, revenue grew 3.97%, EPS grew 38.9% and free cash flow grew 214.3%, each against the same quarter a year earlier.
7.22
0.13
−1.77%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
8.82 | 12.46 | 6.50 | 7.58 | 10.13 | 0.00 | 17.86 | 20.53 | 23.44 | 12.83 |
Piotroski F-Score |
7 | 5 | 6 | 4 | 6 | 3 | 5 | 4 | 4 | 4 |
P/S ratio |
1.88 | 2.31 | 19.87 | 2.39 | 3.06 | 5.85 | 4.44 | 5.30 | 6.16 | 3.43 |
P/FCF ratio |
4.08 | 2.74 | 7.00 | 0.00 | 2.32 | 31.15 | 4.66 | 6.83 | 8.21 | 3.65 |
P/Operating CF |
5.01 | 15.48 | 116.61 | 13.57 | 8.63 | 24.30 | 11.69 | 16.95 | 27.72 | 12.57 |
P/B ratio |
0.49 | 0.60 | 6.28 | 0.78 | 1.61 | 2.66 | 1.91 | 2.83 | 3.86 | 2.32 |
Price to Tangible BV |
0.49 | 0.60 | 6.28 | 0.78 | 1.61 | 2.66 | 1.91 | 2.83 | 3.86 | 2.32 |
EV/Sales |
0.21 | 0.61 | 18.34 | 1.07 | 2.39 | 4.49 | 3.14 | 4.54 | 5.79 | 2.35 |
EV/EBITDA |
0.70 | 2.51 | 55.02 | 2.93 | 8.55 | 11.80 | 11.65 | 16.14 | 21.05 | 8.84 |
EV/Operating CF |
0.36 | 0.62 | 6.24 | (1,064.40) | 1.26 | 14.72 | 2.89 | 4.84 | 6.37 | 2.17 |
EV/FCF |
0.45 | 0.73 | 6.46 | (1.31) | 1.81 | 23.90 | 3.30 | 5.85 | 7.71 | 2.50 |
Quick Ratio |
3.82 | 3.90 | 3.29 | 2.75 | 1.89 | 2.96 | 3.51 | 2.17 | 1.37 | 2.60 |
Current Ratio |
4.46 | 4.53 | 3.76 | 3.32 | 2.42 | 3.56 | 4.47 | 3.21 | 2.21 | 3.00 |
Net Debt/EBITDA |
(5.39) | (6.46) | (4.56) | (3.81) | (2.60) | (3.79) | (5.16) | (3.15) | (1.84) | (3.72) |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.81% | 7.51% | 9.56% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.11 | 0.15 |
Asset Turnover |
0.23 | 0.21 | 0.27 | 0.26 | 0.43 | 0.36 | 0.38 | 0.44 | 0.47 | 0.49 |
Operating CF/Net income |
1.75 | 0.81 | 1.31 | 0.65 | 1.16 | (1.07) | 1.55 | 1.27 | 0.82 | 1.07 |
Capex/Depreciation |
(0.85) | (0.52) | (1.00) | (0.40) | (15.23) | (0.54) | (0.97) | (4.27) | (1.86) | (1.65) |
Interest Coverage |
— | — | — | 0.92 | 1.14 | 2.54 | 2,119.76 | 92.36 | 32.21 | 34.59 |
| 5.71% | 4.59% | 9.99% | 10.67% | 17.24% | (10.17%) | 11.74% | 14.83% | 19.08% | 20.00% | |
| 4.85% | 3.83% | 8.13% | 8.28% | 13.10% | (8.02%) | 9.26% | 10.91% | 12.63% | 12.44% | |
ROIC |
9.80% | 8.07% | 14.60% | 14.30% | 16.14% | 36.63% | 20.35% | 18.31% | 16.58% | 41.35% |
Return on Tangible Assets |
7.67% | 6.40% | 13.10% | 14.16% | 22.60% | (14.70%) | 15.01% | 21.02% | 30.32% | 18.93% |
Average Days of Receivables |
58.75 | 66.45 | 55.83 | 58.64 | 68.70 | 47.97 | 23.63 | 33.43 | 55.84 | 117.38 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
67.62% | 73.64% | 67.33% | 65.35% | 69.63% | 62.12% | 66.00% | 68.59% | 69.92% | 73.90% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
2.53% | 3.71% | 0.35% | 1.36% | 1.65% | 1.81% | 2.80% | 3.43% | 3.31% | 3.15% |
Graham Net Nets |
0.94 | 0.79 | 0.07 | 0.54 | 0.21 | 0.24 | 0.32 | 0.19 | 0.12 | 0.29 |
Graham Number |
22.89 | 20.33 | 9.85 | 30.65 | 36.01 | 0.00 | 28.70 | 26.98 | 23.60 | 19.20 |
Earnings Yield |
11.34% | 8.03% | 15.37% | 13.20% | 9.87% | (3.95%) | 5.60% | 4.87% | 4.27% | 7.79% |
Free Cash Flow Yield |
24.53% | 36.53% | 14.29% | (34.34%) | 43.16% | 3.21% | 21.45% | 14.64% | 12.18% | 27.38% |
Revenue per Share |
5.35 | 5.08 | 0.67 | 6.58 | 10.03 | 8.17 | 7.97 | 8.17 | 7.68 | 6.43 |
Operating CF per Share |
2.00 | 0.76 | 0.27 | 1.34 | 3.56 | 1.97 | 3.03 | 2.56 | 1.71 | 1.76 |
Capex per Share |
(0.27) | (0.16) | (0.03) | (0.13) | (5.22) | (0.13) | (0.15) | (0.32) | (0.41) | (0.26) |
Free Cash Flow per Share |
1.73 | 0.60 | 0.24 | 1.21 | (1.66) | 1.84 | 2.87 | 2.24 | 1.29 | 1.50 |
Cash per Share |
10.31 | 9.97 | 1.16 | 10.06 | 8.17 | 12.67 | 11.90 | 7.84 | 5.62 | 8.40 |
Shareholders Equity per Share |
20.47 | 19.55 | 2.11 | 20.16 | 19.02 | 17.98 | 18.50 | 15.33 | 12.25 | 9.52 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
20.47 | 19.55 | 2.11 | 20.16 | 19.02 | 17.98 | 18.50 | 15.33 | 12.25 | 9.52 |
Free Cash Flow |
120.47 | 41.81 | 163.44 | 82.67 | (111.50) | 114.13 | 175.66 | 131.07 | 73.11 | 84.24 |
Working Capital |
705.46 | 691.22 | 736.05 | 639.71 | 507.45 | 739.02 | 750.69 | 510.95 | 340.10 | 454.68 |
Capital Expenditures |
(19.18) | (11.26) | (22.24) | (9.09) | (350.31) | (7.91) | (9.38) | (18.65) | (23.47) | (14.60) |
Net Current Asset Value |
658.16 | 645.08 | 684.41 | 582.77 | 434.47 | 702.06 | 689.99 | 474.90 | 314.93 | 359.78 |
EV/EBIT |
0.70 | 2.51 | 55.02 | 3.05 | 8.55 | 11.80 | 11.65 | 16.14 | 21.05 | 8.84 |
Capex to Sales |
0.05 | 0.03 | 0.05 | 0.02 | 0.52 | 0.02 | 0.02 | 0.04 | 0.05 | 0.04 |
Price to Operating Income |
6.31 | 9.46 | 59.62 | 6.80 | 10.96 | 15.38 | 16.46 | 18.83 | 22.42 | 12.93 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.07 | 0.07 | 0.06 | 0.06 | 0.06 | 0.38 | 0.23 | 0.09 | 0.27 | 0.25 |
Cash ROIC |
5.61% | 2.02% | 7.18% | 4.00% | (6.10%) | 6.00% | 9.45% | 9.51% | 6.73% | 7.72% |
Accounts Receivable Turnover |
5.97 | 5.25 | 6.48 | 4.52 | 6.97 | 10.33 | 12.93 | 8.68 | 4.75 | 5.35 |
Average Receivables |
62.47 | 67.93 | 71.60 | 99.51 | 96.69 | 49.06 | 37.68 | 55.15 | 91.44 | 67.65 |
Average Assets |
1,646.31 | 1,700.20 | 1,748.63 | 1,709.71 | 1,574.70 | 1,424.30 | 1,286.84 | 1,081.94 | 928.08 | 745.19 |
Average Common Equity |
1,399.64 | 1,420.22 | 1,423.07 | 1,327.52 | 1,196.45 | 1,123.24 | 1,014.67 | 795.50 | 614.45 | 463.63 |
Columns are period end dates