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Noah Holdings

NYSE:NOAH
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NOAH
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The last earnings update was 79 days ago. More info.


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NOAH Share Price and Events
7 Day Returns
-9.7%
NYSE:NOAH
-3.6%
US Capital Markets
-2.7%
US Market
1 Year Returns
-23.4%
NYSE:NOAH
16.4%
US Capital Markets
21.2%
US Market
NOAH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Noah Holdings (NOAH) -9.7% -3.4% 12.8% -23.4% 45.4% 62.5%
US Capital Markets -3.6% 0.6% 8.1% 16.4% 33.7% 73.5%
US Market -2.7% 0.1% 6.9% 21.2% 38.6% 53.4%
1 Year Return vs Industry and Market
  • NOAH underperformed the Capital Markets industry which returned 16.4% over the past year.
  • NOAH underperformed the Market in United States of America which returned 21.2% over the past year.
Price Volatility
NOAH
Industry
5yr Volatility vs Market

Value

 Is Noah Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Noah Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Noah Holdings.

NYSE:NOAH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= CN¥137.74 * 16.3%
CN¥22.49
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. CN¥137.74
Discount Rate (Cost of Equity) See below 7.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:NOAH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 6.3%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.79
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.786 (1 + (1- 25%) (2.59%))
0.867
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.87
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (0.867 * 6.33%)
7.23%

Discounted Cash Flow Calculation for NYSE:NOAH using Excess Returns Model Model

The calculations below outline how an intrinsic value for Noah Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:NOAH Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (16.3% – 7.23%) * CN¥137.74)
CN¥12.54
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= CN¥12.54 / (7.23% - 1.74%)
CN¥228.47
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= CN¥137.74 + CN¥228.47
CN¥366.22
NYSE:NOAH Discount to Share Price
Calculation Result
Exchange Rate CNY/USD
(Reporting currency to currency of NYSE:NOAH)
0.144
Value per Share
(USD)
= Value per Share in CNY x Exchange Rate (CNY/USD)
= CN¥366.22 x 0.144
$52.78
Value per share (USD) From above. $52.78
Current discount Discount to share price of $34.18
= -1 x ($34.18 - $52.78) / $52.78
35.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Noah Holdings is available for.
Intrinsic value
35%
Share price is $34.18 vs Future cash flow value of $52.78
Current Discount Checks
For Noah Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Noah Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Noah Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Noah Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Noah Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:NOAH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in CNY CN¥14.48
NYSE:NOAH Share Price ** NYSE (2020-01-28) in USD $34.18
NYSE:NOAH Share Price converted to CNY reporting currency Exchange rate (USD/ CNY) 6.939 CN¥237.17
United States of America Capital Markets Industry PE Ratio Median Figure of 82 Publicly-Listed Capital Markets Companies 37.09x
United States of America Market PE Ratio Median Figure of 2,920 Publicly-Listed Companies 18.34x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Noah Holdings.

NYSE:NOAH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NOAH Share Price ÷ EPS (both in CNY)

= 237.17 ÷ 14.48

16.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Noah Holdings is good value based on earnings compared to the US Capital Markets industry average.
  • Noah Holdings is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Noah Holdings's expected growth come at a high price?
Raw Data
NYSE:NOAH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
10.4%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 39 Publicly-Listed Capital Markets Companies 2.65x
United States of America Market PEG Ratio Median Figure of 2,029 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:NOAH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.38x ÷ 10.4%

1.57x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Noah Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Noah Holdings's assets?
Raw Data
NYSE:NOAH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in CNY CN¥125.29
NYSE:NOAH Share Price * NYSE (2020-01-28) in USD $34.18
NYSE:NOAH Share Price converted to CNY reporting currency Exchange rate (USD/ CNY) 6.939 CN¥237.17
United States of America Capital Markets Industry PB Ratio Median Figure of 153 Publicly-Listed Capital Markets Companies 6.64x
United States of America Market PB Ratio Median Figure of 5,101 Publicly-Listed Companies 1.82x
NYSE:NOAH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NOAH Share Price ÷ Book Value per Share (both in CNY)

= 237.17 ÷ 125.29

1.89x

* Primary Listing of Noah Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Noah Holdings is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Noah Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Noah Holdings has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Noah Holdings expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Noah Holdings expected to grow at an attractive rate?
  • Noah Holdings's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Noah Holdings's earnings growth is positive but not above the United States of America market average.
  • Noah Holdings's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:NOAH Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:NOAH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 10.4%
NYSE:NOAH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 8.9%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 8.4%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 5.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.6%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:NOAH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:NOAH Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,169 999 1,173 2
2020-12-31 3,773 884 1,058 3
2020-01-29
2019-12-31 3,488 965 989 3
NYSE:NOAH Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-09-30 3,426 882
2019-06-30 3,423 898
2019-03-31 3,349 827
2018-12-31 3,290 1,029 811
2018-09-30 3,190 815
2018-06-30 3,035 787
2018-03-31 2,945 814
2017-12-31 2,827 628 763
2017-09-30 2,751 711
2017-06-30 2,675 687
2017-03-31 2,620 662
2016-12-31 2,514 686 644

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Noah Holdings's earnings are expected to grow by 10.4% yearly, however this is not considered high growth (20% yearly).
  • Noah Holdings's revenue is expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:NOAH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Noah Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NOAH Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 19.14 19.14 19.14 1.00
2020-12-31 17.39 18.51 16.28 2.00
2020-01-29
2019-12-31 16.24 17.07 15.40 2.00
NYSE:NOAH Past Financials Data
Date (Data in CNY Millions) EPS *
2019-09-30 14.48
2019-06-30 14.88
2019-03-31 13.92
2018-12-31 13.85
2018-09-30 14.14
2018-06-30 13.81
2018-03-31 14.35
2017-12-31 13.49
2017-09-30 12.60
2017-06-30 12.17
2017-03-31 11.75
2016-12-31 11.44

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Noah Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Noah Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Noah Holdings has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Noah Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Noah Holdings's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Noah Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Noah Holdings's 1-year earnings growth is less than its 5-year average (8.2% vs 13.9%)
  • Noah Holdings's earnings growth has not exceeded the US Capital Markets industry average in the past year (8.2% vs 9.8%).
Earnings and Revenue History
Noah Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Noah Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NOAH Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 3,425.57 882.00 700.51
2019-06-30 3,422.57 898.11 653.70
2019-03-31 3,348.57 827.41 678.93
2018-12-31 3,289.61 811.30 692.11
2018-09-30 3,189.62 814.87 683.19
2018-06-30 3,034.95 786.84 679.66
2018-03-31 2,944.66 814.39 611.29
2017-12-31 2,826.91 762.92 569.34
2017-09-30 2,751.02 711.08 548.37
2017-06-30 2,675.17 686.61 543.39
2017-03-31 2,619.58 661.83 559.28
2016-12-31 2,513.57 643.83 557.16
2016-09-30 2,441.06 620.00 542.65
2016-06-30 2,353.28 615.65 524.47
2016-03-31 2,279.43 602.74 473.93
2015-12-31 2,119.93 535.83 434.74
2015-09-30 1,901.26 532.36 203.06
2015-06-30 1,799.40 501.53 170.39
2015-03-31 1,664.56 474.01 329.11
2014-12-31 1,528.48 446.55 298.89
2014-09-30 1,412.10 436.11 255.16
2014-06-30 1,297.22 417.41 554.02
2014-03-31 1,127.89 364.93 173.20
2013-12-31 1,005.98 315.93 212.22
2013-09-30 877.89 271.72 404.06
2013-06-30 784.44 233.11 361.41
2013-03-31 637.23 184.62 320.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Noah Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Noah Holdings used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Noah Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Noah Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Noah Holdings has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Noah Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Noah Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Noah Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Noah Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Noah Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Noah Holdings has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Noah Holdings Company Filings, last reported 3 months ago.

NYSE:NOAH Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 7,681.44 0.00 4,226.28
2019-06-30 7,304.00 0.00 3,621.45
2019-03-31 6,691.88 0.00 3,371.28
2018-12-31 6,175.38 267.83 3,154.57
2018-09-30 5,667.24 228.12 2,573.26
2018-06-30 5,175.82 365.86 2,318.82
2018-03-31 4,822.30 470.75 2,398.19
2017-12-31 4,507.75 569.22 2,067.10
2017-09-30 4,056.34 802.86 2,412.49
2017-06-30 4,155.39 870.91 2,573.04
2017-03-31 3,929.55 1,130.63 3,019.43
2016-12-31 3,721.94 1,153.85 3,281.68
2016-09-30 3,126.30 533.48 2,251.17
2016-06-30 2,935.93 531.67 2,018.15
2016-03-31 2,744.85 515.84 3,075.13
2015-12-31 2,534.00 661.46 2,693.00
2015-09-30 2,434.67 508.54 2,521.33
2015-06-30 2,275.78 496.04 2,387.01
2015-03-31 2,078.28 495.96 2,164.68
2014-12-31 1,939.87 50.00 1,887.84
2014-09-30 1,837.29 50.00 1,746.39
2014-06-30 1,712.34 50.22 1,635.93
2014-03-31 1,547.01 50.12 1,284.42
2013-12-31 1,423.87 0.00 1,357.92
2013-09-30 1,331.65 0.00 1,228.45
2013-06-30 1,234.57 0.00 1,173.92
2013-03-31 1,131.22 0.00 1,057.15
  • Noah Holdings has no debt.
  • Noah Holdings has no debt compared to 5 years ago when it was 2.7%.
  • Noah Holdings has no debt, it does not need to be covered by operating cash flow.
  • Noah Holdings has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Noah Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Noah Holdings has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Noah Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Noah Holdings dividends. Estimated to be 0% next year.
If you bought $2,000 of Noah Holdings shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Noah Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Noah Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:NOAH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 43 Stocks 1.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1962 Stocks 2.3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:NOAH Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2020-01-29
2019-12-31 0.00 1.00
NYSE:NOAH Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2015-03-16 0.000 0.000
2014-11-12 0.000 0.000
2014-11-11 0.000 0.000
2014-08-12 0.000 0.000
2014-05-12 0.000 0.000
2014-03-24 0.000 0.000
2013-02-25 0.846 1.125
2012-02-28 0.870 2.496

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Noah Holdings has not reported any payouts.
  • Unable to verify if Noah Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Noah Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Noah Holdings has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Noah Holdings's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess Noah Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Noah Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Noah Holdings has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Noah Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jingbo Wang
AGE 47
TENURE AS CEO 15 years
CEO Bio

Ms. Jingbo Wang co-founded Noah Holdings Limited since 2005 and has been Chairman of the Board of Directors and Chief Executive Officer at Noah Holdings Limited since its inception in 2005. She serves as Consultant at Global Earth Capital. Ms. Wang has over twenty years of experience in asset and wealth management services industry. Prior to co-founding the Noah Holdings Limited, from May 2000 to September 2005, she worked in several departments and affiliates of Xiangcai Securities (“Xiangcai”). Ms. Wang served as the Head of Private Banking Department at Xiangcai from August 2003 to September 2005. Prior to that, she served as Deputy Head at ABN AMRO Xiangcai Fund Management Co., Ltd. from February 2002 to August 2003, and the Head of Asset Management Department at Xiangcai from May 2000 to February 2002. Ms. Wang was the Financial Controller and General Manager for the settlement center of Chengpu Group from September 1994 to December 1999. She received her Master’s degree in Management and a Bachelor’s degree in Economics from Sichuan University in China. Ms. Wang also graduated from the Global CEO Program of China Europe International Business School in 2009.

CEO Compensation
  • Insufficient data for Jingbo to compare compensation growth.
  • Insufficient data for Jingbo to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Noah Holdings management team in years:

2
Average Tenure
46.5
Average Age
  • The tenure for the Noah Holdings management team is about average.
Management Team

Jingbo Wang

TITLE
Co-Founder
AGE
47
TENURE
15 yrs

Yi Zhao

TITLE
Group President
AGE
46
TENURE
0.8 yrs

Boquan He

TITLE
Co-Founder & Independent Director
AGE
59

Zhe Yin

TITLE
Co-Founder & Director
AGE
45
TENURE
15 yrs

Qing Pan

TITLE
Chief Financial Officer
TENURE
0.1 yrs

Yang Gao

TITLE
Chief Operating Officer
AGE
40
TENURE
1.4 yrs

Steve Zeng

TITLE
Investor Relation Contact

Li Shen

TITLE
Chief Legal Officer
TENURE
3 yrs

Chia-Yue Chang

TITLE
Executive Director & Chief Marketing Officer
AGE
59

Chun Xia

TITLE
Managing Director of Research Center for Hong Kong Business Center
TENURE
2 yrs
Board of Directors Tenure

Average tenure and age of the Noah Holdings board of directors in years:

9.2
Average Tenure
52
Average Age
  • The tenure for the Noah Holdings board of directors is about average.
Board of Directors

Jingbo Wang

TITLE
Co-Founder
AGE
47
TENURE
15 yrs

Boquan He

TITLE
Co-Founder & Independent Director
AGE
59
TENURE
12.4 yrs

Zhe Yin

TITLE
Co-Founder & Director
AGE
45
TENURE
15 yrs

Chia-Yue Chang

TITLE
Executive Director & Chief Marketing Officer
AGE
59
TENURE
12.4 yrs

May Yihong Wu

TITLE
Independent Director
AGE
52
TENURE
9.2 yrs

Zhiwu Chen

TITLE
Independent Director
AGE
57
TENURE
6 yrs

Tze-Kaing Yang

TITLE
Independent Director
AGE
64
TENURE
4.7 yrs

Michael Yao

TITLE
Independent Director
AGE
43
TENURE
5.2 yrs

Neil Shen

TITLE
Director
AGE
52
TENURE
4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Noah Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Noah Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why Noah Holdings Limited (NYSE:NOAH) Could Be Your Next Investment

Noah Holdings Limited (NYSE:NOAH) is a stock with outstanding fundamental characteristics. … In the case of NOAH, it is a company that has been able to sustain great financial health, trading at an attractive share price. … NYSE:NOAH Intrinsic value, September 2nd 2019 Next Steps: For Noah Holdings, I've compiled three fundamental aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for NOAH’s future growth?

Simply Wall St -

How Noah Holdings Limited's (NYSE:NOAH) Earnings Growth Stacks Up Against The Industry

Below, I will examine Noah Holdings Limited's (NYSE:NOAH) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … See our latest analysis for Noah Holdings Commentary On NOAH's Past Performance NOAH's trailing twelve-month earnings (from 31 March 2019) of CN¥827m has increased by 1.6% compared to the previous year. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 15%, indicating the rate at which NOAH is growing has slowed down.

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Does The Noah Holdings Limited (NYSE:NOAH) Share Price Fall With The Market?

See our latest analysis for Noah Holdings What NOAH's beta value tells investors Given that it has a beta of 1.87, we can surmise that the Noah Holdings share price has been fairly sensitive to market volatility (over the last 5 years). … Beta is worth considering, but it's also important to consider whether Noah Holdings is growing earnings and revenue. … What this means for you: Since Noah Holdings has a reasonably high beta, it's worth considering why it is so heavily influenced by broader market sentiment.

Simply Wall St -

What Is Noah Holdings Limited's (NYSE:NOAH) Share Price Doing?

Noah Holdings Limited (NYSE:NOAH), which is in the capital markets business, and is based in China, saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. … Great news for investors – Noah Holdings is still trading at a fairly cheap price. … However, given that Noah Holdings’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us another chance to buy in the future.

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Does Noah Holdings Limited's (NYSE:NOAH) Stock Price Account For Its Growth?

However, to be able to properly assess the value of a high-growth stock such as Noah Holdings, we must incorporate its earnings growth in our valuation. … A PE ratio of 20.12x and expected year-on-year earnings growth of 23% give Noah Holdings a low PEG ratio of 0.87x. … This means that, when we account for Noah Holdings's growth, the stock can be viewed as fairly valued , based on its fundamentals.

Simply Wall St -

These Fundamentals Make Noah Holdings Limited (NYSE:NOAH) Truly Worth Looking At

Noah Holdings Limited (NYSE:NOAH) is a stock with outstanding fundamental characteristics. … NYSE:NOAH Past and Future Earnings, May 28th 2019 NOAH's strong financial health means that all of its upcoming liability payments are able to be met by its current cash and short-term investment holdings. … NYSE:NOAH Historical Debt, May 28th 2019 Next Steps: For Noah Holdings, I've put together three fundamental aspects you should look at: Historical Performance: What has NOAH's returns been like over the past?

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There's An Opportunity With Noah Holdings Limited (NYSE:NOAH)

High quality companies, such as Noah Holdings Limited, are impacted by general market panic and sell-off, but the fundamentals of these companies stay the same. … Check out our latest analysis for Noah Holdings. … Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China

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What Should You Know About Noah Holdings Limited's (NYSE:NOAH) Future?

Noah Holdings Limited's (NYSE:NOAH) released its most recent earnings update in December 2018, whicha

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How Does Noah Holdings Limited (NYSE:NOAH) Affect Your Portfolio Volatility?

If you're interested in Noah Holdings Limited (NYSE:NOAH), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … The first thing to understand about beta is that the beta of the overall market is one.

Simply Wall St -

How Do Analysts See Noah Holdings Limited (NYSE:NOAH) Performing In The Next 12 Months?

As Noah Holdings Limited (NYSE:NOAH) released its earnings announcement on 31 December 2018, … with earnings expected to grow by 35% in the upcoming year … the past 5-year average growth rate of 17%.

Simply Wall St -

Company Info

Description

Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service. It offers onshore and offshore fixed income, private equity, secondary market equity, and insurance products; and value-added financial and related services, such as investor education, corporate registration and tax planning, trust, financial leasing, and philanthropy. The company also provides private equity, real estate, secondary market equity, credit, and other investments; and online wealth management, lending, and payment technology services. Noah Holdings Limited was founded in 2005 and is headquartered in Shanghai, the People’s Republic of China.

Details
Name: Noah Holdings Limited
NOAH
Exchange: NYSE
Founded: 2005
$2,065,481,950
60,429,548
Website: http://www.noahgroup.com
Address: Noah Holdings Limited
Building 2,
No. 1687 Changyang Road,
Shanghai,
200090,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NOAH SPON ADS CL A New York Stock Exchange US USD 10. Nov 2010
DB 6NO SPON ADS CL A Deutsche Boerse AG DE EUR 10. Nov 2010
Number of employees
Current staff
Staff numbers
3,441
Noah Holdings employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/29 00:47
End of day share price update: 2020/01/28 00:00
Last estimates confirmation: 2020/01/14
Last earnings filing: 2019/11/11
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.