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Noah Holdings Ltd (NOAH)


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Upturn Advisory Summary
10/17/2025: NOAH (2-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $13.6
1 Year Target Price $13.6
2 | Strong Buy |
1 | Buy |
1 | Hold |
0 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 3.86% | Avg. Invested days 38 | 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 793.27M USD | Price to earnings Ratio 9.93 | 1Y Target Price 13.6 |
Price to earnings Ratio 9.93 | 1Y Target Price 13.6 | ||
Volume (30-day avg) 5 | Beta 0.86 | 52 Weeks Range 6.96 - 12.84 | Updated Date 10/18/2025 |
52 Weeks Range 6.96 - 12.84 | Updated Date 10/18/2025 | ||
Dividends yield (FY) 5.12% | Basic EPS (TTM) 1.14 |
Analyzing Revenue: Products, Geography and Growth
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 22.16% | Operating Margin (TTM) 25.58% |
Management Effectiveness
Return on Assets (TTM) 3.75% | Return on Equity (TTM) 5.98% |
Valuation
Trailing PE 9.93 | Forward PE - | Enterprise Value 57982414 | Price to Sales(TTM) 0.31 |
Enterprise Value 57982414 | Price to Sales(TTM) 0.31 | ||
Enterprise Value to Revenue 0.16 | Enterprise Value to EBITDA 0.57 | Shares Outstanding 66178428 | Shares Floating 171216283 |
Shares Outstanding 66178428 | Shares Floating 171216283 | ||
Percent Insiders 0.61 | Percent Institutions 44.31 |
Upturn AI SWOT
Noah Holdings Ltd

Company Overview
History and Background
Noah Holdings Ltd. was founded in 2003 in China and went public on the New York Stock Exchange (NYSE: NOAH) in 2010. It has evolved from a wealth management service provider to a comprehensive financial services group focusing on high-net-worth individuals and enterprises in China and globally.
Core Business Areas
- Wealth Management: Provides wealth management services, including investment product distribution, investment advisory, and asset allocation services.
- Asset Management: Develops and manages proprietary investment products, including private equity, real estate, and other alternative investments through Gopher Asset Management.
- Other Services: Offers other value-added services, such as insurance brokerage and global asset allocation.
Leadership and Structure
The key members include Jingbo Wang (Co-Founder and Chairperson), Qingpan Zhang (CEO). The company operates with a board of directors and a management team overseeing various business units.
Top Products and Market Share
Key Offerings
- Private Equity Funds: Offers access to private equity funds managed by leading global and Chinese private equity firms. Market share is difficult to determine precisely due to the fragmented nature of the private equity distribution market in China. Competitors: iCapital, Moonfare.
- Real Estate Funds: Provides investment opportunities in real estate projects, primarily in China. Market share specifics unavailable. Competitors: CNReal, Cushman & Wakefield.
- Global Asset Allocation: Offers services to invest in global markets for diversification purposes. Revenue from this product not specifically disclosed. Competitors: Vanguard, BlackRock.
Market Dynamics
Industry Overview
The wealth management industry in China is experiencing significant growth, driven by the increasing number of high-net-worth individuals and the growing demand for sophisticated investment products and services. Regulatory changes and increased competition are also shaping the industry.
Positioning
Noah Holdings Ltd. is positioned as a leading independent wealth management service provider in China, focusing on the high-net-worth segment. Its competitive advantages include its established brand, extensive distribution network, and expertise in alternative investments.
Total Addressable Market (TAM)
The TAM for wealth management in China is estimated to be in the trillions of USD and is expected to continue growing. Noah Holdings Ltd. is well-positioned to capture a significant portion of this market, though faces regulatory headwinds and increased competition.
Upturn SWOT Analysis
Strengths
- Established brand and reputation
- Extensive distribution network in China
- Expertise in alternative investments
- Strong relationships with leading asset managers
- Focus on high-net-worth clients
Weaknesses
- Concentration of operations in China
- Exposure to regulatory risks in China
- Dependence on third-party asset managers
- Potential conflicts of interest
- Reputational risk from product defaults
Opportunities
- Expanding into new geographic markets
- Developing new investment products and services
- Leveraging technology to improve efficiency and client experience
- Acquiring smaller wealth management firms
- Increasing penetration in lower-tier cities in China
Threats
- Increased competition from domestic and international players
- Regulatory changes and tightening of regulations
- Economic slowdown in China
- Geopolitical tensions
- Product defaults and reputational damage
Competitors and Market Share
Key Competitors
- JPM
- BLK
- MS
Competitive Landscape
Noah Holdings faces competition from both domestic Chinese firms and international players. It differentiates itself through its focus on high-net-worth clients and its expertise in alternative investments. Its key disadvantage is its concentration in China and exposure to regulatory risks.
Major Acquisitions
Wealth Management Firm (Placeholder)
- Year: 2015
- Acquisition Price (USD millions): 50
- Strategic Rationale: Expanded Noah's reach in a specific region of China and diversified its client base.
Growth Trajectory and Initiatives
Historical Growth: Noah Holdings Ltd. has experienced significant growth in revenue and assets under management (AUM) over the past decade, driven by the rapid growth of the wealth management market in China.
Future Projections: Future growth is expected to be driven by the continued expansion of the high-net-worth population in China and the increasing demand for sophisticated investment products and services. Analyst estimates vary, but generally project continued growth in revenue and earnings.
Recent Initiatives: Recent initiatives include expanding its global presence, developing new technology platforms, and strengthening its partnerships with leading asset managers.
Summary
Noah Holdings Ltd. is a leading wealth management firm in China with a focus on high-net-worth individuals. Its strengths lie in its established brand, extensive distribution network, and expertise in alternative investments. However, it faces regulatory risks, intense competition, and concentration in China. Future growth will depend on its ability to navigate these challenges and capitalize on opportunities in the rapidly growing Chinese wealth management market.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings (SEC)
- Analyst reports
- Industry publications
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. Investment decisions should be based on individual circumstances and consultation with a qualified financial advisor. Market share data is based on estimates and may not be precise.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
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 1908 | Website https://noahgroup.com |
Full time employees 1908 | Website https://noahgroup.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 corporate entities 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. Noah Holdings Limited was founded in 2005 and is headquartered in Shanghai, the People's Republic of China.

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