Noah Hldgs Ltd Financials

NOAH

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

This page shows Noah Hldgs Ltd (NOAH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 63/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Noah Hldgs Ltd has an operating margin of 24.4%, meaning the company retains $24 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 33.3% the prior year.

Growth

Noah Hldgs Ltd's revenue declined 23.2% year-over-year, from $464.0M to $356.3M. This contraction results in a growth score of 0/100.

Leverage

100

Noah Hldgs Ltd carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 4.53, Noah Hldgs Ltd holds $4.53 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

Noah Hldgs Ltd has a free cash flow margin of 11.7%, earning a moderate score of 59/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Noah Hldgs Ltd generates a 4.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 19/100. This is down from 9.8% the prior year.

Altman Z-Score Safe

3.58

Noah Hldgs Ltd scores 3.58, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($791.4M) relative to total liabilities ($242.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Weak

3/9

Noah Hldgs Ltd passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

0.81x

For every $1 of reported earnings, Noah Hldgs Ltd generates $0.81 in operating cash flow ($53.1M OCF vs $65.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$356.3M

YoY-23.2%

5Y CAGR-6.1%

10Y CAGR+10.7%

Noah Hldgs Ltd generated $356.3M in revenue in fiscal year 2024. This represents a decrease of 23.2% from the prior year.

EBITDA

$108.3M

YoY-38.8%

5Y CAGR-5.9%

10Y CAGR+1.5%

Noah Hldgs Ltd's EBITDA was $108.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 38.8% from the prior year.

Free Cash Flow

$41.8M

YoY-74.4%

5Y CAGR-25.0%

10Y CAGR-6.9%

Noah Hldgs Ltd generated $41.8M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 74.4% from the prior year.

Net Income

$65.1M

YoY-54.2%

5Y CAGR-11.4%

10Y CAGR-1.1%

Noah Hldgs Ltd reported $65.1M in net income in fiscal year 2024. This represents a decrease of 54.2% from the prior year.

EPS (Diluted)

$0.18

YoY-56.1%

Noah Hldgs Ltd earned $0.18 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 56.1% from the prior year.

Cash & Debt

$523.7M

YoY-28.4%

5Y CAGR-3.6%

10Y CAGR+6.8%

Noah Hldgs Ltd held $523.7M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

335M

YoY+2.2%

Noah Hldgs Ltd had 335M shares outstanding in fiscal year 2024. This represents an increase of 2.2% from the prior year.

Gross Margin

N/A

Operating Margin

24.4%

YoY-8.9pp

5Y CAGR-2.6pp

10Y CAGR-44.9pp

Noah Hldgs Ltd's operating margin was 24.4% in fiscal year 2024, reflecting core business profitability. This is down 8.9 percentage points from the prior year.

Net Margin

18.3%

YoY-12.4pp

5Y CAGR-6.2pp

10Y CAGR-37.7pp

Noah Hldgs Ltd's net profit margin was 18.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 12.4 percentage points from the prior year.

Return on Equity

4.8%

YoY-5.0pp

5Y CAGR-7.0pp

10Y CAGR-19.5pp

Noah Hldgs Ltd's ROE was 4.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 5.0 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$7.3M

10Y CAGR-4.6%

Noah Hldgs Ltd spent $7.3M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$11.3M

YoY-49.4%

5Y CAGR+3.7%

10Y CAGR+1.6%

Noah Hldgs Ltd invested $11.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 49.4% from the prior year.

NOAH Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$356.3M-23.2%	$464.0M+3.2%	$449.5M-33.3%	$673.7M+33.0%	$506.6M+4.0%	$487.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$40.7M+4.7%	$38.8M+13.8%	$34.1M-43.3%	$60.2M+41.2%	$42.6M0.0%	$42.6M
Operating Income	$86.8M-43.8%	$154.6M-2.0%	$157.8M-16.1%	$188.1M-2.5%	$192.9M+46.8%	$131.4M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$36.8M-0.4%	$37.0M-4.6%	$38.7M-16.0%	$46.1M+16.4%	$39.6M+25.3%	$31.6M
Net Income	$65.1M-54.2%	$142.2M+0.4%	$141.6M-31.3%	$206.2M+280.6%	-$114.2M-195.9%	$119.1M
EPS (Diluted)	$0.18-56.1%	$0.41	$4.14-32.1%	$6.10+265.8%	$-3.68-195.3%	$3.86

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

NOAH Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.6B-9.7%	$1.8B+4.5%	$1.7B+0.1%	$1.7B+18.6%	$1.4B+2.3%	$1.4B
Current Assets	$887.0M-11.5%	$1.0B+9.4%	$915.9M+5.8%	$865.7M-15.7%	$1.0B+6.2%	$966.9M
Cash & Equivalents	$523.7M-28.4%	$731.3M+14.5%	$638.5M+19.5%	$534.3M-30.4%	$767.1M+21.7%	$630.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$64.9M-8.6%	$71.0M-1.7%	$72.2M-43.0%	$126.8M+90.4%	$66.6M+111.1%	$31.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$242.0M-23.9%	$318.0M-4.5%	$333.1M-22.8%	$431.2M+32.6%	$325.2M+17.5%	$276.9M
Current Liabilities	$195.8M-26.5%	$266.4M-3.6%	$276.2M-22.9%	$358.3M+24.3%	$288.3M+33.4%	$216.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.4B-6.2%	$1.5B+6.5%	$1.4B+8.1%	$1.3B+14.6%	$1.1B+9.3%	$1.0B
Retained Earnings	$808.9M-10.8%	$906.6M+11.6%	$812.6M-0.2%	$814.0M+33.1%	$611.5M-10.1%	$680.1M

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Total Assets	$1.6B-9.7%	$1.8B+4.5%	$1.7B+0.1%	$1.7B+18.6%	$1.4B+2.3%	$1.4B+20.8%	$1.2B+16.8%	$998.2M
Current Assets	$887.0M-11.5%	$1.0B+9.4%	$915.9M+5.8%	$865.7M-15.7%	$1.0B+6.2%	$966.9M+30.2%	$742.4M+19.7%	$620.3M
Cash & Equivalents	$523.7M-28.4%	$731.3M+14.5%	$638.5M+19.5%	$534.3M-30.4%	$767.1M+21.7%	$630.2M+60.2%	$393.3M+34.2%	$293.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$64.9M-8.6%	$71.0M-1.7%	$72.2M-43.0%	$126.8M+90.4%	$66.6M+111.1%	$31.5M-23.2%	$41.1M+52.3%	$27.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$242.0M-23.9%	$318.0M-4.5%	$333.1M-22.8%	$431.2M+32.6%	$325.2M+17.5%	$276.9M+3.5%	$267.5M-12.4%	$305.4M
Current Liabilities	$195.8M-26.5%	$266.4M-3.6%	$276.2M-22.9%	$358.3M+24.3%	$288.3M+33.4%	$216.2M-6.6%	$231.4M-17.4%	$280.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.4B-6.2%	$1.5B+6.5%	$1.4B+8.1%	$1.3B+14.6%	$1.1B+9.3%	$1.0B+18.7%	$849.1M+24.7%	$680.8M
Retained Earnings	$808.9M-10.8%	$906.6M+11.6%	$812.6M-0.2%	$814.0M+33.1%	$611.5M-10.1%	$680.1M+18.5%	$573.9M+29.5%	$443.1M

NOAH Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$53.1M-71.4%	$185.7M+102.3%	$91.8M-61.6%	$238.8M+95.7%	$122.0M-34.0%	$185.0M
Capital Expenditures	$11.3M-49.4%	$22.2M+144.6%	$9.1M-97.4%	$356.4M+4405.2%	$7.9M-15.7%	$9.4M
Free Cash Flow	$41.8M-74.4%	$163.4M+97.7%	$82.7M+170.3%	-$117.6M-203.0%	$114.1M-35.0%	$175.7M
Investing Cash Flow	-$115.2M-230.9%	-$34.8M-423.1%	$10.8M+102.7%	-$403.6M-846.9%	$54.0M+306.7%	-$26.1M
Financing Cash Flow	-$155.4M-452.0%	-$28.1M-183.0%	$33.9M+142.1%	-$80.5M-41.5%	-$56.9M-172.9%	$78.0M
Dividends Paid	$138.1M+452.3%	$25.0M	N/A	N/A	N/A	N/A
Share Buybacks	$7.3M	N/A	N/A	$58.4M+35.4%	$43.2M	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

NOAH Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	24.4%-8.9pp	33.3%-1.8pp	35.1%+7.2pp	27.9%-10.1pp	38.1%+11.1pp	27.0%
Net Margin	18.3%-12.4pp	30.6%-0.9pp	31.5%+0.9pp	30.6%+53.1pp	-22.5%-47.0pp	24.4%
Return on Equity	4.8%-5.0pp	9.8%-0.6pp	10.4%-6.0pp	16.3%	N/A	11.8%
Return on Assets	4.0%-3.9pp	8.0%-0.3pp	8.3%-3.8pp	12.1%+20.0pp	-7.9%-16.4pp	8.5%
Current Ratio	4.53+0.8	3.76+0.4	3.32+0.9	2.42-1.1	3.56-0.9	4.47
Debt-to-Equity	0.18-0.0	0.22-0.0	0.24-0.1	0.34+0.0	0.30+0.0	0.27
FCF Margin	11.7%-23.5pp	35.2%+16.8pp	18.4%+35.9pp	-17.5%-40.0pp	22.5%-13.5pp	36.0%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19	Q4'18	Q4'17
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	4.53+0.8	3.76+0.4	3.32+0.9	2.42-1.1	3.56-0.9	4.47+1.3	3.21+1.0	2.21
Debt-to-Equity	0.18-0.0	0.22-0.0	0.24-0.1	0.34+0.0	0.30+0.0	0.27-0.0	0.32-0.1	0.45
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Noah Hldgs Ltd's annual revenue?

Noah Hldgs Ltd (NOAH) reported $356.3M in total revenue for fiscal year 2024. This represents a -23.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Noah Hldgs Ltd's revenue growing?

Noah Hldgs Ltd (NOAH) revenue declined by 23.2% year-over-year, from $464.0M to $356.3M in fiscal year 2024.

Is Noah Hldgs Ltd profitable?

Yes, Noah Hldgs Ltd (NOAH) reported a net income of $65.1M in fiscal year 2024, with a net profit margin of 18.3%.

What is Noah Hldgs Ltd's earnings per share (EPS)?

Noah Hldgs Ltd (NOAH) reported diluted earnings per share of $0.18 for fiscal year 2024. This represents a -56.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Noah Hldgs Ltd's EBITDA?

Noah Hldgs Ltd (NOAH) had EBITDA of $108.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Noah Hldgs Ltd's operating margin?

Noah Hldgs Ltd (NOAH) had an operating margin of 24.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Noah Hldgs Ltd's net profit margin?

Noah Hldgs Ltd (NOAH) had a net profit margin of 18.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Noah Hldgs Ltd's return on equity (ROE)?

Noah Hldgs Ltd (NOAH) has a return on equity of 4.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Noah Hldgs Ltd's free cash flow?

Noah Hldgs Ltd (NOAH) generated $41.8M in free cash flow during fiscal year 2024. This represents a -74.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Noah Hldgs Ltd's operating cash flow?

Noah Hldgs Ltd (NOAH) generated $53.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Noah Hldgs Ltd's total assets?

Noah Hldgs Ltd (NOAH) had $1.6B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Noah Hldgs Ltd's capital expenditures?

Noah Hldgs Ltd (NOAH) invested $11.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Noah Hldgs Ltd buy back shares?

Yes, Noah Hldgs Ltd (NOAH) spent $7.3M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Noah Hldgs Ltd have outstanding?

Noah Hldgs Ltd (NOAH) had 335M shares outstanding as of fiscal year 2024.

What is Noah Hldgs Ltd's current ratio?

Noah Hldgs Ltd (NOAH) had a current ratio of 4.53 as of fiscal year 2024, which is generally considered healthy.

What is Noah Hldgs Ltd's debt-to-equity ratio?

Noah Hldgs Ltd (NOAH) had a debt-to-equity ratio of 0.18 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Noah Hldgs Ltd's return on assets (ROA)?

Noah Hldgs Ltd (NOAH) had a return on assets of 4.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Noah Hldgs Ltd's Altman Z-Score?

Noah Hldgs Ltd (NOAH) has an Altman Z-Score of 3.58, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Noah Hldgs Ltd's Piotroski F-Score?

Noah Hldgs Ltd (NOAH) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Noah Hldgs Ltd's earnings high quality?

Noah Hldgs Ltd (NOAH) has an earnings quality ratio of 0.81x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Noah Hldgs Ltd?

Noah Hldgs Ltd (NOAH) scores 63 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.