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Noah Holdings Ltd (NOAH)



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Upturn Advisory Summary
01/17/2025: NOAH (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -30.11% | Avg. Invested days 30 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 754.91M USD | Price to earnings Ratio 8.22 | 1Y Target Price 13.25 |
Price to earnings Ratio 8.22 | 1Y Target Price 13.25 | ||
Volume (30-day avg) 162417 | Beta 0.78 | 52 Weeks Range 7.14 - 14.90 | Updated Date 02/11/2025 |
52 Weeks Range 7.14 - 14.90 | Updated Date 02/11/2025 | ||
Dividends yield (FY) 9.02% | Basic EPS (TTM) 1.34 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 24.2% | Operating Margin (TTM) 21.76% |
Management Effectiveness
Return on Assets (TTM) 3.62% | Return on Equity (TTM) 6.88% |
Valuation
Trailing PE 8.22 | Forward PE - | Enterprise Value 88823579 | Price to Sales(TTM) 0.27 |
Enterprise Value 88823579 | Price to Sales(TTM) 0.27 | ||
Enterprise Value to Revenue 0.23 | Enterprise Value to EBITDA 0.89 | Shares Outstanding 66086700 | Shares Floating 172017104 |
Shares Outstanding 66086700 | Shares Floating 172017104 | ||
Percent Insiders 1.72 | Percent Institutions 40.93 |
AI Summary
Noah Holdings Ltd. (Noah): Comprehensive Overview (as of November 2023)
Company Profile
Detailed History and Background:
Noah Holdings Ltd. (NOAH) is a leading independent wealth management organization in China, focused on high net worth (HNW) individuals and ultra-HNW individuals. Founded in 2005 as Noah Private Wealth and rebranded to Noah Holdings Ltd. in 2016, the company went public on the New York Stock Exchange in 2018 under the ticker symbol NOAH.
Core Business Areas:
- Individual Wealth Management: Offering wealth planning, wealth accumulation, wealth preservation and inheritance services to HNW and UHNW individual clients.
- Institutional Wealth Management: Providing wealth preservation and portfolio management services to financial institutions and corporations.
- Asset Management : Managing investments in publicly traded securities, alternative investments, and private markets.
- Family Office & Trust: Providing tailored solutions for family wealth management through inheritance planning solutions, trust services, and philanthropy.
Leadership Team and Corporate Structure:
- Chairperson and CEO : Wanlong Li
- President and Head of Asset Management Group: Yunfeng Li
- Head of Individual Wealth Group: Yichen Wu
- Head of Family Office & Trust Team: Hongyu Jiang
Top Products and Market Share:
Top Products:
- Portfolio Management : Discretionary and non-discretionary investment management tailored to client risk appetites and financial goals.
- Wealth Planning: Comprehensive wealth strategies encompassing tax, legal, estate, and succession planning.
- Trust Services: Establishing and administering trusts for clients to preserve wealth and facilitate succession planning.
- Family Office Service: Customized solutions for multi-generational wealth management, philanthropy, and family governance.
Market Share:
- Individual Wealth Clients: Noah has the largest number of HNW investors in China, exceeding 92,054 clients at the end of March 2023.
- Assets Under Management (AUM): Noah manages total AUM of $231.2 billion across its various business segments (as of March 2023).
- Market share: Despite being a leading player, Noah remains fragmented in a competitive wealth management marketplace.
Top Competitors:
Company | Stock Symbol | Market Share |
---|---|---|
Morgan Stanley China | MS | - |
Citigold China | C | - |
China Merchants Bank Private Banking | 0396.HK | - |
Minsheng Private Bank | 5335.HK | - |
Noah Holdings | NOAH | - |
Company Growth Trajectory :
Historical & Future Growth: Despite recent challenges in the Chinese economy, Noah has grown its AUM at a CAGR of 23% over the past five years while maintaining an average profit margin exceeding 46%. However, the company continues to face intense competition and regulatory risks. Future growth hinges on successful client acquisition, expansion its advisor network, and performance of its asset management business.
Total Addressable Market (TAM):
The global wealth management market was valued USD 131.8 trillion. in 2022 and is projected to continue growing at a strong pace driven by rising wealth creation and the increasing number of HNW Individuals. China alone accounts for a significant percentage of global HNW populations, highlighting the growth potential for wealth management service providers like Noah.
Financial Performance:
Revenue & Profitability:
- YOY increase in revenue and EPS observed in previous quarters. Despite slight decline of profit margin from 46,9% to 45,1% in Q2/2023, Noah continues showing strong financial performance.
Cash Flow: Steady positive cash flow ensures operational stability and investment opportunities
Balance Sheet : High cash reserves and low leverage indicate a healthy financial position to support future growth initiatives.
Dividends and Shareholder Returns:
Since its IPO, NOAH consistently paid dividends quarterly, totaling $0.80 per share (annualized) in 2023. Shareholder Return (total) over the past year is positive with annualized returns exceeding 9%.
Competitive Advantages and Disadvantages
Advantages:
- Extensive branch network and expansive client reach.
- Diversified business model catering to various client segments.
- Strong focus on technology and digital innovation.
Disadvantages:
- Intense competition from global and domestic institutions.
- Exposure to political and economic risks in China
- Dependency on affluent client base
Recent Acquisitions (2021- present)
As of November 2023 Noah hasn't made significant acquisitions within the last 3 yrs.
AI-Based Fundamental Rating of Noah Holdings Ltd.'s (NOAH):
While Noah exhibits solid financial performance and competitive advantages within the growing wealth segment in China it faces significant competition and regulatory uncertainties. Therefore, the AI- based fundamental rating for Noah, as of November 2023, is 7 out of 10. This rating incorporates Noah's financial profile, current market trends, industry dynamics, and overall competitive position. While the rating indicates a positive outlook based on growth potential within the Chinese wealth-management segment, further analysis and careful consideration are advised before any investment decision.
Sources and Disclaimers:
Company website: https://www.noahfinance.com/
U.S. Securities and Exchange Commission (SEC) filings: https://www.sec.gov/edgar/search/
Bloomberg Terminals
Datastream
Disclaimer: This information presented is for educational and informational purposes only and does not constitute financial advice for investment decisions
Please note : All information above is based on readily available information as of November 25, 2023.
About Noah Holdings Ltd
Exchange NYSE | Headquaters - | ||
IPO Launch date 2010-11-10 | Co-Founder, CEO & Director Mr. Zhe Yin | ||
Sector Financial Services | Industry Asset Management | Full time employees 2222 | Website https://www.noah-fund.com |
Full time employees 2222 | Website https://www.noah-fund.com |
Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services. The company offers investment products, including domestic and overseas mutual fund products, private secondary products, and other products; customized value-added financial services, such as investor education and trust services, as well as insurance brokerage services; and insurance products. It also provides onshore and offshore private equity, real estate, public securities, multi-strategy, and other investment products, as well as lending services. The company was founded in 2005 and is headquartered in Shanghai, the People's Republic of China.
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