Noah Holdings Ltd income statement NOAH
In fiscal 2025, which ended Dec 31, 2025, Noah Holdings Ltd reported revenue of $373.3 million, up 4.8% from the year before. Net income was $79.9 million, a profit margin of 21.4%. Operating income came to $111.1 million, an operating margin of 29.8%. Diluted earnings per share were $0.23. Across the 10 fiscal years shown, revenue grew from $205.0 million in fiscal 2016 to $373.3 million in fiscal 2025, about 6.9% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
FY 2023
Dec 31, 2023
|
FY 2022
Dec 31, 2022
|
FY 2021
Dec 31, 2021
|
FY 2020
Dec 31, 2020
|
FY 2019
Dec 31, 2019
|
FY 2018
Dec 31, 2018
|
FY 2017
Dec 31, 2017
|
FY 2016
Dec 31, 2016
|
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue |
373
+4.8%
|
356
-23.2%
|
464
+3.2%
|
450
-33.3%
|
674
+33.0%
|
507
+4.0%
|
487
+1.8%
|
478
+131.2%
|
207
+1.0%
|
205
+19.1%
|
| Selling, general and administrative |
78
+1.2%
|
78
-27.7%
|
107
+26.6%
|
85
-34.2%
|
129
+52.9%
|
84
-6.6%
|
90
-10.4%
|
101
+15.0%
|
88
+9.0%
|
80
+19.6%
|
| Other operating income (expense) |
-9
+29.6%
|
-13
+19.4%
|
-16
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
| Operating income |
111
+27.9%
|
87
-43.8%
|
155
-2.0%
|
158
-16.1%
|
188
-2.5%
|
193
+46.8%
|
131
-2.5%
|
135
+12.8%
|
119
+24.3%
|
96
+11.4%
|
| Other income (expense) |
11
-64.4%
|
32
+104.2%
|
16
+77.0%
|
9
-43.1%
|
16
+105.5%
|
-283
-3811.2%
|
8
-38.5%
|
12
-12.3%
|
14
+47.8%
|
10
-18.7%
|
| Equity in earnings of affiliates |
-0
+98.7%
|
-15
-301.3%
|
8
-41.0%
|
13
-72.7%
|
47
+208.4%
|
15
-7.6%
|
17
+690.6%
|
2
-85.1%
|
14
+340.0%
|
3
-2.4%
|
| Pretax income |
122
+3.0%
|
119
-30.2%
|
170
+2.2%
|
167
-18.2%
|
204
+327.1%
|
-90
-164.5%
|
139
-5.5%
|
147
+10.2%
|
134
+26.4%
|
106
+7.8%
|
| Income tax |
43
+15.7%
|
37
-0.4%
|
37
-4.6%
|
39
-16.0%
|
46
+16.4%
|
40
+25.3%
|
32
-2.3%
|
32
+5.7%
|
31
+34.5%
|
23
+13.5%
|
| Net income |
80
+22.7%
|
65
-54.2%
|
142
+0.4%
|
142
-31.3%
|
206
+280.6%
|
-114
-195.9%
|
119
+0.9%
|
118
+0.6%
|
117
+26.5%
|
93
+12.1%
|
| Basic EPS |
0.23
+21.1%
|
0.19
-53.7%
|
0.41
-90.1%
|
4.14
-32.6%
|
6.14
+266.8%
|
-3.68
-194.4%
|
3.90
-3.0%
|
4.02
-3.1%
|
4.15
+26.1%
|
3.29
+11.5%
|
| Diluted EPS |
0.23
+27.8%
|
0.18
-56.1%
|
0.41
-90.1%
|
4.14
-32.1%
|
6.10
+265.8%
|
-3.68
-195.3%
|
3.86
-0.5%
|
3.88
-2.5%
|
3.98
+25.2%
|
3.18
+12.4%
|
| Weighted average shares, basic |
349
-0.6%
|
351
+1.0%
|
347
+1.7%
|
342
+1.7%
|
336
+982.7%
|
31
+1.4%
|
31
+4.4%
|
29
+3.6%
|
28
+0.4%
|
28
+0.2%
|
| Weighted average shares, diluted |
352
-0.1%
|
352
+1.4%
|
347
+1.6%
|
342
+1.2%
|
338
+989.0%
|
31
+0.3%
|
31
+0.7%
|
31
+1.6%
|
30
+0.7%
|
30
-0.4%
|
| Other measures | ||||||||||
| Depreciation and amortization |
22
+4.5%
|
21
-3.6%
|
22
-1.5%
|
23
-1.7%
|
23
+52.4%
|
15
-0.4%
|
15
+12.8%
|
13
+6.5%
|
13
+42.6%
|
9
+66.2%
|
| EBITDA |
133
+23.3%
|
108
-38.8%
|
177
-1.9%
|
180
-14.5%
|
211
+1.5%
|
208
+41.9%
|
147
-1.1%
|
148
+12.2%
|
132
+25.8%
|
105
+14.6%
|
| Margins | ||||||||||
| Operating margin |
29.75%
|
24.37%
|
33.32%
|
35.11%
|
27.93%
|
38.07%
|
26.98%
|
28.17%
|
57.71%
|
46.89%
|
| Pretax margin |
32.81%
|
33.36%
|
36.70%
|
37.08%
|
30.24%
|
-17.71%
|
28.54%
|
30.75%
|
64.53%
|
51.54%
|
| Profit margin |
21.41%
|
18.28%
|
30.64%
|
31.50%
|
30.61%
|
-22.54%
|
24.45%
|
24.66%
|
56.66%
|
45.24%
|
| EBITDA margin |
35.77%
|
30.39%
|
38.12%
|
40.14%
|
31.34%
|
41.05%
|
30.08%
|
30.97%
|
63.80%
|
51.20%
|
| Effective tax rate |
34.77%
|
30.96%
|
21.70%
|
23.24%
|
22.65%
|
—
|
22.73%
|
21.98%
|
22.91%
|
21.54%
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Investment Advice (SIC 6282)
- Listed as
- NOAH (NYSE)
- Headquarters
- Shanghai
- SEC filer status
- Accelerated filer
- SEC CIK
- 1499543
Other Investment Advice companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.