Seeking Alpha • May 12

Noah Holdings: A Deep Value Stock With Significant Upside

Summary Noah Holdings is poised to take advantage of China's growing upper class. With a dividend yield of 5.44% and a special dividend this year, NOAH is returning capital to shareholders. The company is a deep value play with a potential upside of 24.49%. Read the full article on Seeking Alpha

분석 기사 • Jun 16

Noah Holdings (NYSE:NOAH) Will Pay A Smaller Dividend Than Last Year

Noah Holdings Limited ( NYSE:NOAH ) has announced that on 1st of August, it will be paying a dividend ofCN¥1.14, which...

분석 기사 • Jun 11

Noah Holdings Limited's (NYSE:NOAH) Share Price Boosted 25% But Its Business Prospects Need A Lift Too

Noah Holdings Limited ( NYSE:NOAH ) shareholders would be excited to see that the share price has had a great month...

Seeking Alpha • Apr 22

Noah: Not Quite The Bargain It May Appear To Be At First

Summary Long NOAH looks enticing in some ways, especially after the drop in the stock in combination with low multiples. NOAH faces a number of headwinds, which includes earnings that continue to go down and which looks difficult to fix in the short term. NOAH wants to lessen its reliance on China, but the recently released FY2024 report does not give much ground for optimism. If NOAH wants to reverse its fortunes, it needs earnings growth to return, which is not easy to do in the current global environment. Read the full article on Seeking Alpha

분석 기사 • Apr 09

Slammed 28% Noah Holdings Limited (NYSE:NOAH) Screens Well Here But There Might Be A Catch

The Noah Holdings Limited ( NYSE:NOAH ) share price has fared very poorly over the last month, falling by a substantial...

분석 기사 • Feb 14

Sentiment Still Eluding Noah Holdings Limited (NYSE:NOAH)

With a price-to-earnings (or "P/E") ratio of 9.7x Noah Holdings Limited ( NYSE:NOAH ) may be sending bullish signals at...

Seeking Alpha • Feb 05

Noah: Big Data, $21 Billion Under Management, And A Clear Buy

Summary Noah Holdings Limited, with $21.4 billion under management, shows consistent free cash flow and net income growth, making it a strong buy at the current valuation. Investments in big data, proprietary platforms, and automated systems enhance commission revenues and investment efficiency, driving further revenue growth. Geographic expansion in China and a robust CRM platform are expected to multiply future revenue growth and improve client relationship management. Despite potential regulatory and currency risks, NOAH's profitability, asset growth, and book value increases make it comparable to large U.S. and European asset managers. Read the full article on Seeking Alpha

분석 기사 • Sep 26

Even With A 30% Surge, Cautious Investors Are Not Rewarding Noah Holdings Limited's (NYSE:NOAH) Performance Completely

Noah Holdings Limited ( NYSE:NOAH ) shares have had a really impressive month, gaining 30% after a shaky period...

분석 기사 • Sep 01

Noah Holdings Limited (NYSE:NOAH) Just Reported, And Analysts Assigned A US$14.26 Price Target

It's been a good week for Noah Holdings Limited ( NYSE:NOAH ) shareholders, because the company has just released its...

Seeking Alpha • Aug 30

Noah Holdings: Q2 Results Miss And New Buyback Plan Draw Attention

Summary NOAH's latest Q2 2024 results were a disappointment, as the company's latest quarterly revenue and earnings missed expectations and dropped significantly on a YoY basis. On the flip side, Noah Holdings announced a new $50 million buyback program that might enhance the stock's future shareholder yield. I continue to have a Neutral view of NOAH following my evaluation of the company's negative financial performance and positive shareholder capital return outlook. Read the full article on Seeking Alpha

분석 기사 • Jun 05

Noah Holdings Limited (NYSE:NOAH) Stock's 25% Dive Might Signal An Opportunity But It Requires Some Scrutiny

Noah Holdings Limited ( NYSE:NOAH ) shareholders won't be pleased to see that the share price has had a very rough...

Seeking Alpha • May 30

Noah Holdings: Strategic Pivot Is Still A Work-In-Progress (Rating Downgrade)

Summary Both Noah Holdings' Q1 2024 top line and bottom line accounted for under 25% of the analysts' consensus forecasts, so its first quarter results failed to meet the market's expectations. Noah Holdings' comments at the recent quarterly earnings call seem to indicate that it will be a while before the company's international markets can achieve their full growth potential. I downgrade my rating for NOAH stock to a Hold, considering that the company is still in the process of pivoting towards overseas markets. Read the full article on Seeking Alpha

분석 기사 • Apr 14

Noah Holdings Limited (NYSE:NOAH) Held Back By Insufficient Growth Even After Shares Climb 27%

Noah Holdings Limited ( NYSE:NOAH ) shares have had a really impressive month, gaining 27% after a shaky period...

Seeking Alpha • Mar 15

Noah Holdings: Building Wealth Through A Growing Client Base

Summary Noah Holdings is undervalued, with a sticky client base and consistent earnings power. The company serves China's high net worth population, with a large total addressable market. Attractive capital returns from share buybacks and dividends reward investors for waiting. Shares are a buy with a price target of $20. Read the full article on Seeking Alpha

Seeking Alpha • Dec 09

Noah Holdings: Watch New Capital Return Framework And Insurance Products

Summary NOAH has decided to raise its minimum dividend payout ratio from 10% earlier to 35% going forward. Noah Holdings' insurance fee income derived from its international insurance business operations grew by +381.8% YoY in the first nine months of this year. I make no changes to my existing Buy rating for NOAH, as I like its new shareholder capital return policy and I have a favorable opinion of insurance product demand. Read the full article on Seeking Alpha

Seeking Alpha • Sep 29

Noah Holdings: Consider Overseas Expansion And Financial Strength

Summary NOAH aims to grow its number of relationship managers in Hong Kong and Singapore to 120 by the end of the current year to support its overseas expansion efforts. NOAH's credit ratios are reasonably healthy, and this means that the company has the financial capacity to increase its future dividend distributions. I stick to my existing Buy investment rating for Noah Holdings, as I have a positive view of its overseas expansion plans and strong financial position. Read the full article on Seeking Alpha

Seeking Alpha • Jul 14

Staying Bullish On Noah Holdings

Summary NOAH's 2023 financial prospects are healthy, taking into account expectations of double-digit revenue growth and net margin expansion. Specifically, Noah Holdings' Hong Kong office has witnessed a growing interest in its insurance product offerings from Mainland Chinese customers. My Buy rating for NOAH remains intact, as the stock's depressed valuations don't do justice to its favorable near-term outlook. Read the full article on Seeking Alpha

Seeking Alpha • Feb 14

Noah Holdings: Room For Further Valuation Re-Rating

Summary The operating environment for NOAH should be much more favorable this year, and this explains why the sell-side has taken a positive view of the stock. Noah Holdings' shares are now primary listed in both the US and Hong Kong, so the valuation discount assigned to NOAH's stock relating to delisting risks should narrow going forward. I still assign a Buy rating to Noah Holdings' stock, as there is room for further valuation re-rating. Elevator Pitch My Buy rating for Noah Holdings Limited's (NOAH) [6686:HK] shares stays unchanged. NOAH's stock price has gone up by +53.7% (source: Seeking Alpha price data) since my prior write-up highlighting that "negatives are priced in" for Noah Holdings was published on November 24, 2022. During this time period, the S&P 500 rose modestly by +2.8%. Notwithstanding Noah Holdings' stock price outperformance in the past two and a half months, I am of the view that NOAH's shares still have room to run. Noah Holdings' current P/E multiple is below its historical average, even though its 2023 prospects are good and the company's delisting risk has been mitigated to a substantial degree. Analysts Have Become Incrementally More Bullish On NOAH A positive change in sell-side analyst sentiment towards a stock is a key indicator of future share price performance. There are various metrics suggesting that a growing number of analysts have a favorable opinion about Noah Holdings' stock price trajectory and financial results going forward. The mean analyst rating for NOAH increased from 4.33 as of November 29, 2022 to 4.45 as of February 13, 2023. With ratings of 5 and 4 representing Strong Buy and Buy recommendations, respectively, it is clear that the majority of sell-side analysts covering Noah Holdings' shares are positive on the stock. Separately, both the market's consensus top line and bottom line estimates for NOAH have been raised by approximately +1% in the last two and a half months as per S&P Capital IQ data. The sell-side expects a substantial improvement in Noah Holdings' financial performance for 2023. Specifically, NOAH's revenue is forecasted to grow by +25.1% in FY 2023 as compared to a -32.7% top line contraction for FY 2022. The analysts also estimate that NOAH will turn around from a -27.3% drop in its bottom line for FY 2022 to achieve a +19.0% increase in its normalized EPS for the current year. There are good reasons why the sell-side is becoming incrementally more positive on Noah Holdings' growth prospects for the new year. At its earlier Q3 2022 earnings briefing on November 21, 2022, NOAH had cited "Fed rate hikes, sporadic lockdowns in China due to its prolonged COVID-zero policy as well as very volatile public markets" as the key headwinds for the company in 2022. These headwinds are very likely going to moderate in 2023. Firstly, there are expectations that rate hikes will come to a stop this year considering the easing of inflationary pressures, as highlighted in a recent January 27, 2023 Reuters news article. Secondly, China has already begun to relax its pandemic restrictions in December last year and there are no signs pointing to an emergence of new variants, so a return of pandemic lockdowns in the country is unlikely. Thirdly, research issued by various firms such as Russell Investments, Morgan Stanley (MS), and BlackRock (BLK) indicates that worldwide stock markets in general are expected to perform better in 2023 as compared to 2022. In a nutshell, the sell-side analysts are justified in turning more bullish on Noah Holdings, as the company's business outlook for 2023 is reasonably good. ADR Delisting Risk Is Much Less Of A Concern For NOAH Now Towards the end of last year, Seeking Alpha News reported that Noah Holdings' "conversion of its secondary listing status to a primary listing status" on the Hong Kong market has been completed. Since December 22, 2022, Noah Holdings has become "a dual-primary listed company" as per Seeking Alpha News' late-December 2022 article. This is an important development for Noah Holdings, as the risk of delisting for Chinese ADRs as a group is still a concern. Notably, the PCAOB or Public Company Accounting Oversight Board announced in mid-December 2022 that it has obtained "complete access to inspect and investigate audit firms" in China. Initially, there were expectations that the delisting risk for US-listed Chinese companies should have been greatly reduced following this announcement.

Seeking Alpha • Dec 23

Noah Holdings announces primary listing status on Hong Kong Stock Exchange

Noah Holdings (NYSE:NOAH) announced that the company's voluntary conversion of its secondary listing status to a primary listing status on the Main Board of The Stock Exchange of Hong Kong Limited became effective December 22. The company is now a dual-primary listed company on both the HKG and the NYSE. The company's ADSs listed on the NYSE and the ordinary shares listed on the HKG are fungible, and investors can continue to choose to hold their shares in the form of ADSs traded on the NYSE or ordinary shares traded on the HKG.

Seeking Alpha • Sep 13

Noah Holdings: Spotlight On Dividend Policy And Delisting Risk

Summary The market values NOAH at a 20% discount to book value and a mid-single digit forward P/E multiple, and its shares have dropped by -47% in this year thus far. Noah Holdings' new dividend policy and reduced delisting risks are the catalysts for the stock. NOAH is rated as a Buy, as its valuations are cheap and there are catalysts to correct the mispricing of its shares. Elevator Pitch I have a Buy investment rating for Noah Holdings Limited's (NYSE:NOAH) [6686:HK] shares. My prior update for NOAH published at the end of last year discussed about how the company's Q3 2021 financial performance was negatively impacted by higher costs related to hiring. In this latest article, my attention turns to the potential catalysts for Noah Holdings, namely the expected resumption of dividend payments next year and the planned Hong Kong primary listing conversion. Share Price Performance And Valuations NOAH's stock price performance has been poor and its current valuations are depressed. Year to date in 2022, Noah Holdings' share price has fallen by -47%. In the same period, the S&P 500 has corrected by a relatively more modest -14%. NOAH's last traded stock price of $15.84 as of September 12, 2022 represents a new seven-year low. In terms of valuations, NOAH currently trades at 4.9 times consensus forward next twelve months' normalized P/E and 0.80 times trailing P/B, as per valuation data sourced from S&P Capital IQ. Noah Holdings' forward P/E multiple of 4.9 times is only +14% above its all-time P/E trough of 4.3 times, while its trailing P/B ratio of 0.80 times is just slightly higher than its historical P/B low of 0.77 times. In the next two sections of the article, I identify two key re-rating catalysts for NOAH. New Dividend Policy Noah Holdings disclosed last month that "the Board has approved and adopted" a "dividend policy" that will see the company paying out a minimum "10% of the Group's non-GAAP net income attributable to the Shareholders of the preceding financial year." NOAH also mentioned at the company's most recent Q2 2022 investor briefing that this new dividend policy will take effect from April 2023. Since the company's IPO on the New York Stock Exchange in November 2010, NOAH has only paid out dividends twice in 2012 and 2013, respectively. With Noah Holdings initiating a new dividend policy, the sell-side analysts have begun incorporating dividend forecasts into their financial projections for NOAH. According to the market's consensus estimates taken from S&P Capital IQ, NOAH offers decent consensus forward fiscal 2023 and 2024 dividend yields of 1.5% and 1.9%, respectively. It is reasonable to assume that there is some degree of conservatism associated with these dividend forecasts since NOAH has yet to implement the dividend policy - i.e. declare the first dividend. As such, Noah Holdings' actual dividends might be higher. One also shouldn't rule out a further increase in NOAH's dividend payout ratio in the intermediate to long term. Noah Holdings might have been shunned by investors with a strong emphasis on good capital allocation in the past, as the company didn't return excess capital to its shareholders. Separately, NOAH certainly didn't find favor with income-focused investors, given that it suspended dividends after 2013. The new dividend policy could potentially be a game changer for NOAH. Income-focused investors might put Noah Holdings back on their watchlists again. Notably, NOAH had emphasized at its Q2 2022 earnings call that it "aims to provide stable and sustainable returns to the shareholders of the company." The words "stable" and "sustainable" point to a lower risk of dividend cuts, and this could make NOAH more appealing in the eyes of certain dividend investors seeking stocks offering safe and consistent dividend payouts. Separately, Noah Holdings could have been penalized by some investors for hoarding too much excess capital and scoring poorly on the capital allocation metric as a result. As such, NOAH's move to initiate a new dividend policy is a step in the right direction from a capital allocation's perspective, which will possibly drive a narrowing of the valuation discount assigned to its shares. Also, paying out dividends will help to shrink NOAH's capital base and boost its future returns on capital to some extent in the future, and this could be another valuation re-rating driver for Noah Holdings. In the next section, I touch on another major factor that has been a drag on NOAH's stock price in recent times, and I highlight how things could be different going forward. Delisting Risk Like other US-listed Chinese companies, Noah Holdings' share price performance was adversely affected by the risk of delisting. Earlier on April 13, 2022, NOAH issued a press release revealing that its ADSs or American depositary shares are at risk of being "delisted from the New York Stock Exchange in early 2024" in line with the Holding Foreign Companies Accountable Act. As highlighted in this media release, Noah Holdings can't have its shares traded in the US in the future, unless "the PCAOB (Public Company Accounting Oversight Board) is able to conduct a full inspection of the Company's auditor during the required timeframe."

Seeking Alpha • Aug 22

Noah Holdings Non-GAAP EPS of RMB4.53, revenue of RMB738.1M

Noah Holdings press release (NYSE:NOAH): Q2 Non-GAAP EPS of RMB5.18 Revenue of RMB738.1M (-17.9% Y/Y).

스노우플레이크 점수
가치 평가	6/6
미래 성장	1/6
과거 실적	3/6
재무 건전성	6/6
배당	4/6

과거 주가
현재 주가	US$10.07
52주 최고가	US$12.84
52주 최저가	US$9.53
베타	0.77
1개월 변동	-7.10%
3개월 변동	-14.52%
1년 변동	-15.52%
3년 변동	-38.75%
5년 변동	-77.37%
IPO 이후 변동	-37.02%

	NOAH	US Capital Markets	US 시장
7D	-5.1%	-0.5%	-3.3%
1Y	-15.5%	9.0%	22.3%

NOAH volatility
NOAH Average Weekly Movement	5.1%
Capital Markets Industry Average Movement	3.6%
Market Average Movement	7.2%
10% most volatile stocks in US Market	16.6%
10% least volatile stocks in US Market	3.1%

NOAH 기초 통계
시가총액	US$663.89m
순이익 (TTM)	US$78.93m
매출 (TTM)	US$387.02m

NOAH 손익계산서 (TTM)
매출	CN¥2.62b
매출원가	CN¥1.18b
총이익	CN¥1.44b
기타 비용	CN¥907.39m
순이익	CN¥534.61m

주당순이익(EPS)	8.19
총이익률	55.01%
순이익률	20.39%
부채/자본 비율	0%

데이터	최종 업데이트 (UTC 시간)
기업 분석	2026/06/09 06:06
종가	2026/06/09 00:00
수익	2026/03/31
연간 수익	2025/12/31

패키지	데이터	기간	미국 소스 예시 ^*
기업 재무제표	10년	손익계산서 현금흐름표 대차대조표	SEC 양식 10-K SEC 양식 10-Q
분석가 컨센서스 추정치	+3년	재무 예측 분석가 목표주가	분석가 리서치 보고서 Blue Matrix
시장 가격	30년	주가 배당, 분할 및 기타 조치	ICE 시장 데이터 SEC 양식 S-1
지분 구조	10년	주요 주주 내부자 거래	SEC 양식 4 SEC 양식 13D
경영진	10년	리더십 팀 이사회	SEC 양식 10-K SEC 양식 DEF 14A
주요 개발	10년	회사 공시	SEC 양식 8-K

분석가	기관
You Fan	China International Capital Corporation Limited
Sin Hang Leung	Citigroup Inc
Judy Zhang	Citigroup Inc

Noah Holdings (NOAH) 주식 개요

강점

위험 분석

Analyst Price Targets

Digital Trends And Global Fragmentation Will Erode Fee Revenues

Offshore Expansion And Digital Integration Will Secure Future Market Opportunities

Rising Asian Wealth And Asset-Light Digitization Will Redefine Global Markets

Top Analyst Narratives

Digital Trends And Global Fragmentation Will Erode Fee Revenues

Offshore Expansion And Digital Integration Will Secure Future Market Opportunities

Rising Asian Wealth And Asset-Light Digitization Will Redefine Global Markets

Noah Holdings Limited 경쟁사

Adams Natural Resources Fund

Drugs Made In America Acquisition II

Bain Capital GSS Investment

EQV Ventures Acquisition II

가격 이력 및 성과

최근 뉴스 및 업데이트

NOAH: Dividends Buybacks And 2026 Execution Will Shape Balanced Risk Outlook

First quarter 2026 earnings released: EPS: CN¥1.87 (vs CN¥2.13 in 1Q 2025)

NOAH: Dividends And Execution In 2026 Will Shape Future Risk Profile

Noah Holdings Limited to Report Q1, 2026 Results on May 27, 2026

Noah Holdings: A Deep Value Stock With Significant Upside

NOAH: Dividends And 2026 Contract Execution Will Shape Future Risk Reward Profile

Recent updates

NOAH: Dividends Buybacks And 2026 Execution Will Shape Balanced Risk Outlook

First quarter 2026 earnings released: EPS: CN¥1.87 (vs CN¥2.13 in 1Q 2025)

NOAH: Dividends And Execution In 2026 Will Shape Future Risk Profile

Noah Holdings Limited to Report Q1, 2026 Results on May 27, 2026

Noah Holdings: A Deep Value Stock With Significant Upside

NOAH: Dividends And 2026 Contract Execution Will Shape Future Risk Reward Profile

NOAH: Dividend Distributions And JPMorgan Downgrade Will Shape Future Upside Potential

NOAH: Revised Fair Value And JPMorgan Downgrade Will Shape Future Returns

Noah Holdings Private Wealth and Asset Management Limited Proposes Special Dividend

Full year 2025 earnings: Revenues exceed analyst expectations

Noah Holdings Limited, Annual General Meeting, Jun 11, 2026

NOAH: Higher Future P/E Assumptions May Unlock Deep Value Potential

Noah Holdings Limited to Report Q4, 2025 Results on Mar 24, 2026

NOAH: AI Wealth Summit And Digital Platform Will Support Future Upside

NOAH: AI Wealth Push And Compressed P/E Will Likely Pressure Returns

NOAH: AI Wealth Push And Higher P/E Will Likely Prove Overhyped

NOAH: AI Wealth Infrastructure And Client Summit Will Support Future Upside Potential

NOAH: AI Wealth Push And Higher P/E Will Likely Prove Overhyped

NOAH AI Wealth Platform Will Drive Stronger Long-Term Client Engagement

Noah Holdings Limited Hosts Global Black Diamond Summit, Highlights Vision for AI-Driven Global Wealth Management Future

Third quarter 2025 earnings released: EPS: CN¥3.14 (vs CN¥1.91 in 3Q 2024)

Noah Holdings Limited to Report Q3, 2025 Results on Nov 25, 2025

Now 21% undervalued

Domestic Restructuring And International Expansion Will Improve Operational Efficiency

Now 23% undervalued

Noah Holdings Limited to Report Q2, 2025 Results on Aug 27, 2025

Noah Holdings (NYSE:NOAH) Will Pay A Smaller Dividend Than Last Year

Dividend of US$1.14 announced

Noah Holdings Limited Approves Special Dividend for the Year Ended December 31, 2024, Payable on 24 July 2025

Noah Holdings Limited's (NYSE:NOAH) Share Price Boosted 25% But Its Business Prospects Need A Lift Too

Now 22% undervalued

First quarter 2025 earnings released: EPS: CN¥10.65 (vs CN¥1.88 in 1Q 2024)

Noah Holdings Limited to Report Q1, 2025 Results on May 28, 2025

Full year 2024 earnings: EPS and revenues miss analyst expectations

Less than half of directors are independent

Noah Holdings Limited, Annual General Meeting, Jun 12, 2025

Noah: Not Quite The Bargain It May Appear To Be At First

Consensus EPS estimates fall by 19%

Slammed 28% Noah Holdings Limited (NYSE:NOAH) Screens Well Here But There Might Be A Catch

Investor sentiment deteriorates as stock falls 16%

New minor risk - Profit margin trend

Full year 2024 earnings: Revenues miss analyst expectations

Noah Holdings Private Wealth and Asset Management Limited Proposes Final Dividend for the Year Ended December 31, 2024

Now 23% undervalued after recent price drop

Launch Of Ark Private Wealth And Olive Asset Management Will Diversify Global Services

Noah Holdings Limited to Report Q4, 2024 Results on Mar 25, 2025

Now 20% undervalued after recent price drop

Sentiment Still Eluding Noah Holdings Limited (NYSE:NOAH)

Noah: Big Data, $21 Billion Under Management, And A Clear Buy

Noah Holdings Limited Announces Resignation of Kai Wang as Non-Executive Director

Third quarter 2024 earnings released: EPS: CN¥9.56 (vs CN¥3.36 in 3Q 2023)

Now 21% undervalued

Noah Holdings Limited to Report Q3, 2024 Results on Nov 26, 2024

Investor sentiment improves as stock rises 25%

Even With A 30% Surge, Cautious Investors Are Not Rewarding Noah Holdings Limited's (NYSE:NOAH) Performance Completely