Noah (NYSE:NOAH) Issues Quarterly Earnings Results

Noah (NYSE:NOAH) issued its quarterly earnings data on Tuesday. The asset manager reported $0.01 EPS for the quarter, FiscalAI reports. Noah had a return on equity of 7.23% and a net margin of 25.99%.The company had revenue of $104.80 million for the quarter.

Here are the key takeaways from Noah’s conference call:

• Strategic transformation to an AI-enabled, asset-allocation and global-structuring platform began to produce tangible operating results in 2025, shifting the firm away from a product-sales model toward a platform-led model.
• Full-year net revenue was RMB 2.6 billion (broadly flat), while operating profit rose 22.5% to RMB 777 million and operating margin expanded to 29.8%, with adjusted non‑GAAP net income about RMB 753 million.
• The board approved a total dividend equal to 100% of 2025 non‑GAAP net income (regular + special), implying an ~11% cash dividend yield and ~12% total cash return including buybacks, subject to shareholder approval.
• Revenue mix is shifting toward higher‑margin investment activities — investment product commissions rose ~79.7% and performance‑based income ~78%, with overseas revenue increasing to 49% of total, supporting margin resilience.
• Reported GAAP results were hit by non‑operational items including an ~CNY 120 million equity‑in‑affiliates mark‑to‑market loss and ~CNY 50 million contingent expense this quarter, with total provisions at CNY 505 million (~63% of unsettled principal), reflecting legacy/mark‑to‑market and private‑credit exposure risks.

Noah Stock Performance

Shares of NOAH opened at $11.46 on Wednesday. The firm has a fifty day moving average of $11.66 and a 200-day moving average of $11.23. The company has a market cap of $768.39 million, a price-to-earnings ratio of 8.88 and a beta of 0.73. Noah has a 1 year low of $7.67 and a 1 year high of $12.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Federation des caisses Desjardins du Quebec acquired a new stake in Noah in the fourth quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Noah during the 3rd quarter worth about $84,000. Quadrant Capital Group LLC acquired a new stake in shares of Noah in the 3rd quarter worth approximately $85,000. New York State Common Retirement Fund bought a new position in shares of Noah in the third quarter valued at approximately $105,000. Finally, Virtu Financial LLC acquired a new position in shares of Noah during the fourth quarter valued at approximately $115,000. Institutional investors own 42.67% of the company’s stock.

Analysts Set New Price Targets

NOAH has been the topic of several recent research reports. Zacks Research raised Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. UBS Group cut their price target on shares of Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Noah in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.75.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.