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NOAH HOLDINGS LTD-SPON ADS (NOAH) Stock Fundamental Analysis

NYSE:NOAH - New York Stock Exchange, Inc. - US65487X1028 - ADR - Currency: USD

11.82  +0.04 (+0.34%)

Premarket: 12 +0.18 (+1.52%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to NOAH. NOAH was compared to 225 industry peers in the Capital Markets industry. NOAH has an excellent financial health rating, but there are some minor concerns on its profitability. NOAH is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year NOAH was profitable.
Of the past 5 years NOAH 4 years were profitable.
In the past 5 years NOAH always reported a positive cash flow from operatings.
NOAH Yearly Net Income VS EBIT VS OCF VS FCFNOAH Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M 1B 1.5B

1.2 Ratios

NOAH's Return On Assets of 5.05% is fine compared to the rest of the industry. NOAH outperforms 67.12% of its industry peers.
The Return On Equity of NOAH (5.94%) is worse than 61.64% of its industry peers.
With a decent Return On Invested Capital value of 5.48%, NOAH is doing good in the industry, outperforming 70.78% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for NOAH is above the industry average of 6.82%.
Industry RankSector Rank
ROA 5.05%
ROE 5.94%
ROIC 5.48%
ROA(3y)9.43%
ROA(5y)5.77%
ROE(3y)12.17%
ROE(5y)7.59%
ROIC(3y)9.07%
ROIC(5y)9.75%
NOAH Yearly ROA, ROE, ROICNOAH Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20

1.3 Margins

NOAH has a Profit Margin (21.18%) which is in line with its industry peers.
NOAH's Profit Margin has improved in the last couple of years.
NOAH's Operating Margin of 26.09% is in line compared to the rest of the industry. NOAH outperforms 47.03% of its industry peers.
NOAH's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 26.09%
PM (TTM) 21.18%
GM N/A
OM growth 3Y-4.34%
OM growth 5Y3.42%
PM growth 3YN/A
PM growth 5Y4.44%
GM growth 3YN/A
GM growth 5YN/A
NOAH Yearly Profit, Operating, Gross MarginsNOAH Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20

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7

2. Health

2.1 Basic Checks

The number of shares outstanding for NOAH has been increased compared to 1 year ago.
Compared to 5 years ago, NOAH has more shares outstanding
There is no outstanding debt for NOAH. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
NOAH Yearly Shares OutstandingNOAH Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M
NOAH Yearly Total Debt VS Total AssetsNOAH Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

2.2 Solvency

NOAH has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z N/A
ROIC/WACCN/A
WACCN/A
NOAH Yearly LT Debt VS Equity VS FCFNOAH Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B 6B 8B 10B

2.3 Liquidity

NOAH has a Current Ratio of 4.43. This indicates that NOAH is financially healthy and has no problem in meeting its short term obligations.
NOAH has a better Current ratio (4.43) than 84.02% of its industry peers.
NOAH has a Quick Ratio of 4.43. This indicates that NOAH is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 4.43, NOAH belongs to the top of the industry, outperforming 84.47% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 4.43
Quick Ratio 4.43
NOAH Yearly Current Assets VS Current LiabilitesNOAH Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

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1

3. Growth

3.1 Past

The earnings per share for NOAH have decreased strongly by -37.90% in the last year.
Measured over the past years, NOAH shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -35.69% on average per year.
The Revenue for NOAH has decreased by -18.62% in the past year. This is quite bad
The Revenue has been growing slightly by 0.03% on average over the past years.
EPS 1Y (TTM)-37.9%
EPS 3YN/A
EPS 5Y-35.69%
EPS Q2Q%-43.14%
Revenue 1Y (TTM)-18.62%
Revenue growth 3Y-0.11%
Revenue growth 5Y0.03%
Sales Q2Q%-8.84%

3.2 Future

NOAH is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -7.71% yearly.
Based on estimates for the next years, NOAH will show a decrease in Revenue. The Revenue will decrease by -2.78% on average per year.
EPS Next Y-45.44%
EPS Next 2Y-17.44%
EPS Next 3Y-7.71%
EPS Next 5YN/A
Revenue Next Year-21.47%
Revenue Next 2Y-8.14%
Revenue Next 3Y-2.78%
Revenue Next 5YN/A

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NOAH Yearly Revenue VS EstimatesNOAH Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1B 2B 3B 4B
NOAH Yearly EPS VS EstimatesNOAH Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 9.69 indicates a reasonable valuation of NOAH.
Based on the Price/Earnings ratio, NOAH is valued a bit cheaper than the industry average as 74.43% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of NOAH to the average of the S&P500 Index (29.62), we can say NOAH is valued rather cheaply.
NOAH is valuated cheaply with a Price/Forward Earnings ratio of 7.93.
Compared to the rest of the industry, the Price/Forward Earnings ratio of NOAH indicates a rather cheap valuation: NOAH is cheaper than 88.13% of the companies listed in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.70. NOAH is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.69
Fwd PE 7.93
NOAH Price Earnings VS Forward Price EarningsNOAH Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA -0.42
NOAH Per share dataNOAH EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15 20

4.3 Compensation for Growth

A cheap valuation may be justified as NOAH's earnings are expected to decrease with -7.71% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-17.44%
EPS Next 3Y-7.71%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 8.79%, NOAH is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 10.21, NOAH pays a bit more dividend than its industry peers.
NOAH's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
Industry RankSector Rank
Dividend Yield 8.79%

5.2 History

The dividend of NOAH decreases each year by -10.97%.
NOAH has been paying a dividend for less than 5 years, so it still needs to build a track record.
Dividend Growth(5Y)-10.97%
Div Incr Years1
Div Non Decr Years1
NOAH Yearly Dividends per shareNOAH Yearly Dividends per shareYearly Dividends per share 2023 2024 0.5 1 1.5 2

5.3 Sustainability

NOAH's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DPN/A
EPS Next 2Y-17.44%
EPS Next 3Y-7.71%
NOAH Yearly Income VS Free CF VS DividendNOAH Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 500M -500M 1B

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NOAH HOLDINGS LTD-SPON ADS

NYSE:NOAH (2/21/2025, 8:04:01 PM)

Premarket: 12 +0.18 (+1.52%)

11.82

+0.04 (+0.34%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)08-26 2024-08-26/amc
Earnings (Next)03-24 2025-03-24/amc
Inst Owners41.56%
Inst Owner Change-96.21%
Ins Owners0.82%
Ins Owner ChangeN/A
Market Cap781.14M
Analysts78.18
Price Target13.61 (15.14%)
Short Float %0.54%
Short Ratio5.39
Dividend
Industry RankSector Rank
Dividend Yield 8.79%
Yearly Dividend0.99
Dividend Growth(5Y)-10.97%
DPN/A
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)13.05%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.26%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.08%
Valuation
Industry RankSector Rank
PE 9.69
Fwd PE 7.93
P/S 2.06
P/FCF N/A
P/OCF N/A
P/B 0.58
P/tB 0.58
EV/EBITDA -0.42
EPS(TTM)1.22
EY10.32%
EPS(NY)1.49
Fwd EY12.61%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS5.73
BVpS20.44
TBVpS20.44
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 5.05%
ROE 5.94%
ROCE 7.07%
ROIC 5.48%
ROICexc 10.27%
ROICexgc 10.27%
OM 26.09%
PM (TTM) 21.18%
GM N/A
FCFM N/A
ROA(3y)9.43%
ROA(5y)5.77%
ROE(3y)12.17%
ROE(5y)7.59%
ROIC(3y)9.07%
ROIC(5y)9.75%
ROICexc(3y)16.94%
ROICexc(5y)22.68%
ROICexgc(3y)16.94%
ROICexgc(5y)22.68%
ROCE(3y)11.7%
ROCE(5y)12.57%
ROICexcg growth 3Y-26.27%
ROICexcg growth 5Y-5.8%
ROICexc growth 3Y-26.27%
ROICexc growth 5Y-5.8%
OM growth 3Y-4.34%
OM growth 5Y3.42%
PM growth 3YN/A
PM growth 5Y4.44%
GM growth 3YN/A
GM growth 5YN/A
F-ScoreN/A
Asset Turnover0.24
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA 0
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 4.43
Quick Ratio 4.43
Altman-Z N/A
F-ScoreN/A
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)563.11%
Cap/Depr(5y)360.74%
Cap/Sales(3y)19.91%
Cap/Sales(5y)12.64%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-37.9%
EPS 3YN/A
EPS 5Y-35.69%
EPS Q2Q%-43.14%
EPS Next Y-45.44%
EPS Next 2Y-17.44%
EPS Next 3Y-7.71%
EPS Next 5YN/A
Revenue 1Y (TTM)-18.62%
Revenue growth 3Y-0.11%
Revenue growth 5Y0.03%
Sales Q2Q%-8.84%
Revenue Next Year-21.47%
Revenue Next 2Y-8.14%
Revenue Next 3Y-2.78%
Revenue Next 5YN/A
EBIT growth 1Y-34.63%
EBIT growth 3Y-4.45%
EBIT growth 5Y3.45%
EBIT Next Year-41.35%
EBIT Next 3Y-7.66%
EBIT Next 5YN/A
FCF growth 1Y103.51%
FCF growth 3Y15.93%
FCF growth 5Y5.19%
OCF growth 1Y108.3%
OCF growth 3Y18.29%
OCF growth 5Y5.07%