For fiscal 2025 (ended Dec 31, 2025), Noah Holdings Limited reported CN¥2.63B of revenue and CN¥558.86M of net income. Figures are in CNY, the currency of its SEC filings.
NOAH revenue was CN¥2.63B for fiscal 2025 (ended Dec 31, 2025), up 0.3% from fiscal 2024. Compound annual growth was -4.6% over 5 years and +2.2% over 10 years. It rose in 7 of the last 10 fiscal years.
NOAH net income was CN¥558.86M for fiscal 2025 (ended Dec 31, 2025), up 17.5% from fiscal 2024. Compound annual growth was +0.4% over 10 years. It rose in 2 of the last 4 fiscal years.
NOAH diluted EPS was CN¥1.59 for fiscal 2025 (ended Dec 31, 2025), up 17.8% from fiscal 2024. Compound annual growth was -1.4% over 10 years.
NOAH free cash flow was CN¥842.47M for fiscal 2025 (ended Dec 31, 2025), up 176.1% from fiscal 2024. Compound annual growth was +2.5% over 5 years and +4.6% over 10 years. It rose in 2 of the last 3 fiscal years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥2.63B | CN¥2.62B | CN¥3.32B | CN¥3.13B | CN¥4.33B | CN¥3.32B | CN¥3.41B | CN¥3.31B | CN¥2.85B | CN¥2.56B |
| Selling, general and admin | CN¥305.59M | CN¥296.75M | CN¥275.73M | CN¥235.32M | CN¥383.32M | CN¥277.88M | CN¥296.49M | CN¥280.07M | CN¥246.78M | CN¥234.49M |
| Operating income | CN¥776.66M | CN¥633.89M | CN¥1.10B | CN¥1.09B | CN¥1.20B | CN¥1.26B | CN¥914.97M | CN¥926.52M | CN¥777.03M | CN¥667.29M |
| Pre-tax income | CN¥856.42M | CN¥867.61M | CN¥1.21B | CN¥1.15B | CN¥1.30B | -CN¥585.32M | CN¥967.98M | CN¥1.01B | CN¥868.81M | CN¥733.54M |
| Income tax | CN¥297.81M | CN¥268.59M | CN¥262.36M | CN¥267.11M | CN¥293.94M | CN¥258.46M | CN¥220.03M | CN¥222.32M | CN¥199.09M | CN¥158.00M |
| Net income | CN¥558.86M | CN¥475.44M | CN¥1.01B | CN¥976.57M | CN¥1.31B | -CN¥745.23M | CN¥829.15M | CN¥811.30M | CN¥762.92M | CN¥643.83M |
| EPS, basic | CN¥1.60 | CN¥1.36 | CN¥2.91 | CN¥2.86 | CN¥3.91 | -CN¥2.40 | CN¥2.71 | CN¥2.77 | CN¥2.70 | CN¥2.29 |
| EPS, diluted | CN¥1.59 | CN¥1.35 | CN¥2.91 | CN¥2.86 | CN¥3.89 | -CN¥2.40 | CN¥2.68 | CN¥2.67 | CN¥2.59 | CN¥2.21 |
| Diluted shares | 352.0M | 352.4M | 347.4M | 342.0M | 337.8M | 310.2M | 309.2M | 307.1M | 302.3M | 300.4M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | CN¥4.36B | CN¥3.82B | CN¥5.19B | CN¥4.43B | CN¥3.41B | CN¥5.02B | CN¥4.39B | CN¥2.71B | CN¥1.91B | CN¥2.98B |
| Short-term investments | CN¥657.56M | CN¥1.27B | CN¥379.46M | CN¥315.98M | CN¥92.80M | CN¥114.93M | CN¥671.26M | CN¥450.48M | CN¥160.34M | CN¥299.17M |
| Receivables | CN¥420.13M | CN¥473.49M | CN¥503.98M | CN¥498.11M | CN¥808.03M | CN¥434.46M | CN¥219.57M | CN¥282.43M | CN¥175.52M | CN¥204.13M |
| Current assets | CN¥6.36B | CN¥6.47B | CN¥7.12B | CN¥6.32B | CN¥5.52B | CN¥6.70B | CN¥6.73B | CN¥5.10B | CN¥4.04B | CN¥4.73B |
| Total assets | CN¥11.74B | CN¥11.78B | CN¥12.69B | CN¥11.80B | CN¥10.89B | CN¥9.40B | CN¥9.80B | CN¥8.01B | CN¥6.49B | CN¥5.96B |
| Current liabilities | CN¥1.43B | CN¥1.43B | CN¥1.89B | CN¥1.90B | CN¥2.28B | CN¥1.88B | CN¥1.51B | CN¥1.59B | CN¥1.82B | CN¥1.58B |
| Long-term debt | - | - | - | - | - | - | - | CN¥145.00M | - | CN¥555.44M |
| Total debt | - | - | - | - | - | - | - | CN¥145.00M | - | CN¥555.44M |
| Total liabilities | CN¥1.76B | CN¥1.77B | CN¥2.26B | CN¥2.30B | CN¥2.75B | CN¥2.12B | CN¥1.93B | CN¥1.84B | CN¥1.99B | CN¥2.23B |
| Shareholders' equity | CN¥9.83B | CN¥9.95B | CN¥10.43B | CN¥9.50B | CN¥8.14B | CN¥7.28B | CN¥7.87B | CN¥6.18B | CN¥4.51B | CN¥3.39B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | CN¥976.61M | CN¥387.34M | CN¥1.32B | CN¥632.90M | CN¥1.52B | CN¥796.35M | CN¥1.29B | CN¥1.03B | CN¥628.38M | CN¥686.25M |
| Capital expenditures | CN¥134.14M | CN¥82.17M | CN¥157.92M | CN¥62.71M | CN¥2.27B | CN¥51.62M | CN¥65.33M | CN¥128.22M | CN¥152.71M | CN¥101.37M |
| Free cash flow | CN¥842.47M | CN¥305.16M | CN¥1.16B | CN¥570.19M | -CN¥749.38M | CN¥744.74M | CN¥1.22B | CN¥901.16M | CN¥475.67M | CN¥584.88M |
| Investing cash flow | CN¥299.45M | -CN¥840.82M | -CN¥247.14M | CN¥74.29M | -CN¥2.57B | CN¥352.58M | -CN¥182.01M | -CN¥395.68M | -CN¥833.86M | -CN¥883.79M |
| Financing cash flow | -CN¥635.55M | -CN¥1.13B | -CN¥199.84M | CN¥233.76M | -CN¥513.12M | -CN¥371.42M | CN¥543.31M | CN¥109.83M | -CN¥791.79M | CN¥994.63M |
| Dividends paid | CN¥546.77M | CN¥1.01B | CN¥177.50M | - | - | - | - | - | - | - |
| Share repurchases | CN¥52.30M | CN¥53.34M | - | - | CN¥372.38M | CN¥281.61M | - | - | CN¥31.29M | CN¥12.60M |
| Stock-based compensation | CN¥66.88M | CN¥109.03M | CN¥11.53M | CN¥42.30M | CN¥51.04M | CN¥59.79M | CN¥94.90M | CN¥112.76M | CN¥93.64M | CN¥79.17M |
| Depreciation and amortization | CN¥156.90M | CN¥156.68M | CN¥158.08M | CN¥155.97M | CN¥146.57M | CN¥98.45M | CN¥105.43M | CN¥92.28M | CN¥81.96M | CN¥61.32M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 0.3% | -21.0% | 6.0% | -27.7% | 30.1% | -2.6% | 3.1% | 16.3% | 11.1% | 20.8% |
| Net income growth, YoY | 17.5% | -52.9% | 3.4% | -25.7% | - | - | 2.2% | 6.3% | 18.5% | 20.2% |
| EPS growth, YoY | 17.8% | -53.6% | 1.7% | -26.5% | - | - | 0.6% | 3.0% | 17.3% | 20.6% |
| Operating margin | 29.5% | 24.2% | 33.1% | 34.8% | 27.7% | 37.9% | 26.8% | 28.0% | 27.3% | 26.0% |
| Net margin | 21.3% | 18.1% | 30.4% | 31.2% | 30.4% | -22.4% | 24.3% | 24.5% | 26.8% | 25.1% |
| Free cash flow margin | 32.0% | 11.6% | 35.0% | 18.2% | -17.3% | 22.4% | 35.8% | 27.2% | 16.7% | 22.8% |
| Return on equity | 5.7% | 4.8% | 9.7% | 10.3% | 16.1% | -10.2% | 10.5% | 13.1% | 16.9% | 19.0% |
| Return on assets | 4.8% | 4.0% | 8.0% | 8.3% | 12.1% | -7.9% | 8.5% | 10.1% | 11.7% | 10.8% |
| Current ratio | 4.46 | 4.53 | 3.76 | 3.32 | 2.42 | 3.56 | 4.47 | 3.21 | 2.21 | 3.00 |
| Debt to equity | - | - | - | - | - | - | - | 0.02 | - | 0.16 |
Source: XBRL data Noah Holdings Limited files with the SEC, latest filing dated Apr 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures and share counts are restated for stock splits the filings show: 10-for-1, first reported Apr 24, 2024.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| NOAH | CN¥2.63B | +0.3% | CN¥558.86M | 21.3% | $464.7M |
| BX | $16.11B | +17.2% | $3.52B | 21.8% | $89.94B |
| KKR | $21.31B | +31.1% | $3.15B | 14.8% | $88.24B |
| APO | $30.82B | +12.2% | -$918.00M | -3.0% | $69.25B |
| AMP | $20.14B | +8.8% | $4.16B | 20.7% | $44.22B |
| ARES | $5.99B | +24.0% | $636.35M | 10.6% | $44.16B |
| TROW | $7.70B | +6.9% | $2.19B | 28.4% | $23.19B |
| TPG | $5.17B | +21.6% | $268.72M | 5.2% | $17.99B |