Export financials
Noah Holdings Limited (NOAH)
The export includes the complete available history of financial statements and ratios. Numbers are provided in full, without million or billion abbreviations, in their original reporting units.
CSV downloads as a ZIP archive with one file for each report and frequency.

Noah Holdings Limited Financial Ratios 2025-2009 | NOAH
Brief overview of Noah Holdings Limited's market valuation
The comparison uses the five latest available annual observations between 2021 and 2025.
The valuation comparison uses P/E 6.53x (median 6.41x), P/B 0.37x (median 0.42x), P/CF 3.74x (median 6.74x). Valuation is roughly 13.7% below five-year reference levels. The discount may reflect opportunity or higher perceived risk.
Current earnings relative to valuation equal about 15.3% on the 1/P/E measure. This is a valuation reference, not an expected payout.
Capital efficiency is characterized by ROE 5.7%, ROA 4.8%, ROCE 7.9%. Efficiency ratios are restrained, with capital and assets producing modest returns.
Financial-company multiples cannot be compared directly with industrial businesses; P/B and sustainable capital returns remain central.
What the ratios show
Noah Holdings Limited's multiples look low against history, but fundamental returns do not yet provide convincing support.
Annual Financial Ratios Noah Holdings Limited
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
6.5 | 6.4 | 4.4 | 4.4 | 8.0 | -2.0 | 1.3 | 1.7 | 1.8 | 13.0 | 17.6 | 15.0 | 16.0 | 15.7 | 15.8 | - | - |
P/S |
1.4 | 1.2 | 1.3 | 1.4 | 2.5 | 0.4 | 0.3 | 0.4 | 0.5 | 3.3 | 4.4 | 4.4 | 5.0 | 4.1 | 5.3 | - | - |
EPS |
1.6 | 1.4 | 2.9 | 2.9 | 3.9 | -24.0 | 27.1 | 27.7 | 27.0 | 22.9 | 19.1 | 16.0 | 11.5 | - | - | - | - |
EV (Enterprise Value) |
1.05 B | 993 M | 1.48 B | 2.16 B | 13.3 B | -1.41 B | -1.42 B | 511 M | 1.48 B | 862 M | 869 M | 10.7 M | -15.2 M | 528 M | 489 M | - | - |
EBITDA per Share |
2.68 | 2.25 | 3.62 | 3.64 | 4.01 | 43.7 | 33.4 | 34.8 | 30.4 | 12.9 | 10.6 | 10.5 | 6.95 | 3.11 | 2.94 | - | - |
EV/EBITDA |
1.1 | 1.3 | 1.2 | 1.7 | 0.8 | -1.2 | -2.3 | -0.0 | 1.7 | -1.6 | -0.3 | -1.2 | -1.1 | -2.3 | -3.0 | - | - |
PEG |
-0.27 | -0.3 | -0.3 | -0.37 | 0.02 | -0.05 | 0.04 | 0.04 | 0.03 | 0.65 | 0.28 | 6.35 | 0.13 | -3.13 | 0.87 | - | - |
P/B |
0.4 | 0.3 | 0.4 | 0.4 | 1.3 | 0.2 | 0.1 | 0.2 | 0.3 | 2.5 | 3.8 | 3.6 | 3.7 | 2.1 | 2.4 | - | - |
P/CF |
3.7 | 7.9 | 3.4 | 6.7 | 6.9 | 1.9 | 0.8 | 1.3 | 2.2 | 2.2 | 2.7 | 1.9 | 1.4 | 2.0 | 3.3 | - | - |
ROE % |
5.69 | 4.78 | 9.79 | 10.38 | 16.14 | -10.24 | 10.53 | 13.14 | 16.92 | 19.32 | 21.88 | 24.25 | 22.92 | 13.18 | 14.89 | - | - |
ROA % |
4.76 | 4.04 | 7.96 | 8.28 | 12.07 | -7.93 | 8.46 | 10.12 | 11.75 | 10.81 | 13.08 | 16.80 | 16.96 | 11.11 | 13.25 | - | - |
ROCE % |
7.90 | 6.37 | 10.65 | 11.57 | 14.73 | 16.57 | 11.03 | 14.42 | 16.63 | 15.23 | 17.85 | 28.07 | 25.19 | 14.43 | 15.29 | - | - |
Current Ratio |
6.7 | 6.7 | 5.6 | 5.1 | 4.0 | 4.4 | 5.1 | 4.4 | 3.3 | 3.0 | 3.4 | 3.3 | 4.2 | 7.2 | 10.2 | - | - |
DSO |
62.5 | 68.6 | 55.5 | 29.3 | 18.5 | 36.1 | 27.0 | 25.4 | 24.5 | 197.6 | 84.8 | 72.1 | 73.0 | 61.3 | 40.3 | - | - |
DPO |
37.3 | 30.7 | 27.8 | 14.8 | - | - | - | - | - | 193.1 | 59.3 | - | 27.6 | 24.9 | 45.9 | - | - |
Operating Cycle |
62.5 | 68.6 | 55.5 | 29.3 | 18.5 | 36.1 | 27.0 | 25.4 | 24.5 | 197.6 | 84.8 | 72.1 | 73.0 | 61.3 | 40.3 | - | - |
Cash Conversion Cycle |
25.1 | 37.9 | 27.7 | 14.5 | 18.5 | 36.1 | 27.0 | 25.4 | 24.5 | 4.5 | 25.5 | 72.1 | 45.5 | 36.3 | -5.6 | - | - |
All numbers in CNY currency
Quarterly Financial Ratios Noah Holdings Limited
| 2025-Q4 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q4 | 2009-Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
1.6 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA per Share |
2.68 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROE % |
5.69 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROA % |
4.76 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
ROCE % |
7.90 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Current Ratio |
6.7 | 6.7 | 5.6 | 5.1 | - | - | - | 4.0 | - | - | - | 4.4 | - | - | - | 5.1 | - | - | - | 4.4 | - | - | - | 3.3 | - | - | - | 2.7 | - | - | - | 2.6 | - | - | - | 3.6 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DSO |
7.3 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DPO |
4.7 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in CNY currency
Multiples are an important financial analysis tool for the company Noah Holdings Limited, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.