Noah Holdings reports Q4 EPS RMB1.87 vs RMB3.36 last year
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 25 2025
0mins
Should l Buy NOAH?
Q4 Revenue Decline: The company reported Q4 revenues of $89.3M, marking an 18.5% decrease from the same period in 2023 and a 4.6% sequential decline, primarily due to reduced distribution of insurance products.
Net Income Drop: Non-GAAP net income attributable to Noah shareholders for Q4 2024 was $18.1M, reflecting a 43.3% decrease year-over-year and a 12.0% decrease from Q3 2024.
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Analyst Views on NOAH
About NOAH
Noah Holdings Ltd is an investment holding company primarily engaged in the provision of wealth management services. The Company operates its business through three segments. The Wealth Management Business segment is engaged in offering various investment products, including primarily domestic and overseas mutual fund products, private secondary products and other products as well as providing customized value-added financial services, including investor education and trust services. The Asset Management Business segment is engaged in managing clients’ investments in private equity, real estate, public securities, multi-strategy and other investment products. The Other Businesses segment includes lending services and other services. The Company conducts its business in the domestic and overseas markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Noah Holdings to Report Q4 and Full Year 2025 Financial Results on March 24, 2026
- Earnings Report Schedule: Noah Holdings is set to release its unaudited financial results for the fourth quarter and full year 2025 after U.S. market close on March 24, 2026, reflecting the company's commitment to transparency and investor communication.
- Conference Call Details: The management team will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on March 24, 2026, which is expected to attract investor attention and provide insights into future business outlook, thereby enhancing market confidence.
- Investment Product Distribution: As of September 30, 2025, Noah has distributed investment products totaling RMB 50.1 billion (approximately USD 7.0 billion), indicating its strong market position among high-net-worth clients and ongoing growth potential.
- Client Base Expansion: With 466,153 registered clients as of September 30, 2025, Noah Holdings demonstrates extensive influence and trust in the wealth management sector, further solidifying its market leadership.
See More
Noah Holdings Schedules Q4 2025 Earnings Release
- Earnings Release Schedule: Noah Holdings plans to report its unaudited financial results for the fourth quarter ended December 31, 2025, after U.S. market close on March 24, 2026, demonstrating the company's commitment to transparency and information disclosure.
- Conference Call Timing: The management team will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on March 24, 2026, aimed at communicating financial performance and future outlook with investors, thereby enhancing investor relations.
- Investor Participation Method: The conference call can be accessed via toll-free dial-in numbers from multiple countries, including Hong Kong, the U.S., and Mainland China, ensuring global investors can easily join and enhancing the accessibility of information.
- Assets Under Management: As of September 30, 2025, Noah Holdings managed assets totaling RMB 143.5 billion (approximately USD 20.2 billion) through its asset management business, reflecting its strong capabilities and market influence in the wealth management sector.
See More
Trip.com Group Reports Significant Revenue Growth in 2025 Financial Results
- Revenue Growth: Trip.com Group reported net revenue of RMB 15.4 billion (US$2.2 billion) for Q4 2025, a 21% year-over-year increase, indicating strong travel demand despite a 16% quarter-over-quarter decline primarily due to seasonality.
- Accommodation Booking Performance: Q4 accommodation reservation revenue reached RMB 6.3 billion (US$899 million), up 21% year-over-year, accounting for 42% of total revenue, reflecting the company's sustained growth potential in the accommodation market.
- Corporate Travel Revenue: Corporate travel revenue for Q4 2025 was RMB 808 million (US$116 million), a 15% increase year-over-year, demonstrating enhanced market demand among corporate clients, which is expected to further drive long-term growth.
- Board Changes: Trip.com announced changes to its board, with co-founders Min Fan and Qi Ji resigning, while appointing May Yihong Wu and Iris Yang Xiao as new independent directors, aiming to introduce diverse expertise to support the company's future strategy.
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Noah Holdings Releases H1 2026 CIO Report, AI Infrastructure as New Asset Allocation Cornerstone
- Shift in Wealth Management: Noah Holdings' H1 2026 CIO Report indicates a strategic shift in wealth management from maximizing short-term returns to preserving long-term stability, reflecting adjustments in response to macroeconomic uncertainties.
- AI Infrastructure Investment: The report emphasizes that AI infrastructure has become a cornerstone of strategic portfolios, with expected sustained spending on energy systems and digital infrastructure over the next 10-20 years, which will lower portfolio volatility and enhance cross-cycle stability.
- Three-Layer Allocation Framework: Noah's CIO Office introduces a three-layer allocation framework designed to integrate AI infrastructure into family portfolios, highlighting the importance of maintaining direction, dignity, and autonomy across all market conditions.
- Ongoing Professional Judgment: Since 2022, Noah has published ten CIO reports, creating a reusable judgment framework to navigate global macro shifts, continuing to provide families with professional judgment and long-term vision.
See More
Noah Holdings Releases H1 2026 CIO Report, AI Infrastructure as New Asset Allocation Cornerstone
- Shift in Wealth Management Strategy: Noah Holdings' H1 2026 CIO Report indicates a fundamental shift in wealth management objectives from maximizing short-term returns to ensuring long-term stability, highlighting the importance of AI infrastructure as a critical asset class that will influence investment directions over the next 10-20 years.
- Investment Value in AI Infrastructure: The report emphasizes that the investment value of AI infrastructure lies in its physical and operational foundations, including next-generation data centers and smart grids, which will lower portfolio volatility and enhance cross-cycle stability, thereby improving long-term security in family wealth management.
- Three-Layer Allocation Framework: Noah introduces a three-layer allocation framework designed to integrate core long-term assets, liquidity and risk management layers, and legacy structures to ensure continuity of family wealth across market cycles, reflecting a commitment to long-term family development.
- Ongoing Market Insights: Since 2022, Noah's CIO Office has published ten reports, creating a reusable judgment framework that aids families in maintaining direction and decision-making capacity amid global macro shifts, further solidifying its professional standing in the wealth management sector.
See More
Yiheng Capital Exits Entire Put Option Position in Planet Fitness
- Exit of Option Position: Yiheng Capital fully exited its put option position in Planet Fitness, comprising 270,000 shares with an estimated trade value of $29,443,500 in Q3 2025, indicating a cautious approach to market volatility.
- Change in AUM: This transaction resulted in a 4.342% decrease in Yiheng Capital's 13F reportable assets under management, reflecting a strategic adjustment in its portfolio management.
- Market Reaction: Although Planet Fitness's stock price experienced a modest decline during Q3, it did not reach levels that would make the options profitable, making Yiheng's exit a prudent decision to avoid potential losses.
- Portfolio Diversification: Yiheng Capital held 27 positions in Q3, including four options, demonstrating its ongoing efforts in a diversified investment strategy.
See More
Noah Holdings to Report Q4 and Full Year 2025 Financial Results on March 24, 2026
- Earnings Report Schedule: Noah Holdings is set to release its unaudited financial results for the fourth quarter and full year 2025 after U.S. market close on March 24, 2026, reflecting the company's commitment to transparency and investor communication.
- Conference Call Details: The management team will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on March 24, 2026, which is expected to attract investor attention and provide insights into future business outlook, thereby enhancing market confidence.
- Investment Product Distribution: As of September 30, 2025, Noah has distributed investment products totaling RMB 50.1 billion (approximately USD 7.0 billion), indicating its strong market position among high-net-worth clients and ongoing growth potential.
- Client Base Expansion: With 466,153 registered clients as of September 30, 2025, Noah Holdings demonstrates extensive influence and trust in the wealth management sector, further solidifying its market leadership.
See More
Noah Holdings Schedules Q4 2025 Earnings Release
- Earnings Release Schedule: Noah Holdings plans to report its unaudited financial results for the fourth quarter ended December 31, 2025, after U.S. market close on March 24, 2026, demonstrating the company's commitment to transparency and information disclosure.
- Conference Call Timing: The management team will hold an earnings conference call at 8:00 p.m. U.S. Eastern Time on March 24, 2026, aimed at communicating financial performance and future outlook with investors, thereby enhancing investor relations.
- Investor Participation Method: The conference call can be accessed via toll-free dial-in numbers from multiple countries, including Hong Kong, the U.S., and Mainland China, ensuring global investors can easily join and enhancing the accessibility of information.
- Assets Under Management: As of September 30, 2025, Noah Holdings managed assets totaling RMB 143.5 billion (approximately USD 20.2 billion) through its asset management business, reflecting its strong capabilities and market influence in the wealth management sector.
See More
Trip.com Group Reports Significant Revenue Growth in 2025 Financial Results
- Revenue Growth: Trip.com Group reported net revenue of RMB 15.4 billion (US$2.2 billion) for Q4 2025, a 21% year-over-year increase, indicating strong travel demand despite a 16% quarter-over-quarter decline primarily due to seasonality.
- Accommodation Booking Performance: Q4 accommodation reservation revenue reached RMB 6.3 billion (US$899 million), up 21% year-over-year, accounting for 42% of total revenue, reflecting the company's sustained growth potential in the accommodation market.
- Corporate Travel Revenue: Corporate travel revenue for Q4 2025 was RMB 808 million (US$116 million), a 15% increase year-over-year, demonstrating enhanced market demand among corporate clients, which is expected to further drive long-term growth.
- Board Changes: Trip.com announced changes to its board, with co-founders Min Fan and Qi Ji resigning, while appointing May Yihong Wu and Iris Yang Xiao as new independent directors, aiming to introduce diverse expertise to support the company's future strategy.
See More
Noah Holdings Releases H1 2026 CIO Report, AI Infrastructure as New Asset Allocation Cornerstone
- Shift in Wealth Management: Noah Holdings' H1 2026 CIO Report indicates a strategic shift in wealth management from maximizing short-term returns to preserving long-term stability, reflecting adjustments in response to macroeconomic uncertainties.
- AI Infrastructure Investment: The report emphasizes that AI infrastructure has become a cornerstone of strategic portfolios, with expected sustained spending on energy systems and digital infrastructure over the next 10-20 years, which will lower portfolio volatility and enhance cross-cycle stability.
- Three-Layer Allocation Framework: Noah's CIO Office introduces a three-layer allocation framework designed to integrate AI infrastructure into family portfolios, highlighting the importance of maintaining direction, dignity, and autonomy across all market conditions.
- Ongoing Professional Judgment: Since 2022, Noah has published ten CIO reports, creating a reusable judgment framework to navigate global macro shifts, continuing to provide families with professional judgment and long-term vision.
See More
Noah Holdings Releases H1 2026 CIO Report, AI Infrastructure as New Asset Allocation Cornerstone
- Shift in Wealth Management Strategy: Noah Holdings' H1 2026 CIO Report indicates a fundamental shift in wealth management objectives from maximizing short-term returns to ensuring long-term stability, highlighting the importance of AI infrastructure as a critical asset class that will influence investment directions over the next 10-20 years.
- Investment Value in AI Infrastructure: The report emphasizes that the investment value of AI infrastructure lies in its physical and operational foundations, including next-generation data centers and smart grids, which will lower portfolio volatility and enhance cross-cycle stability, thereby improving long-term security in family wealth management.
- Three-Layer Allocation Framework: Noah introduces a three-layer allocation framework designed to integrate core long-term assets, liquidity and risk management layers, and legacy structures to ensure continuity of family wealth across market cycles, reflecting a commitment to long-term family development.
- Ongoing Market Insights: Since 2022, Noah's CIO Office has published ten reports, creating a reusable judgment framework that aids families in maintaining direction and decision-making capacity amid global macro shifts, further solidifying its professional standing in the wealth management sector.
See More
Yiheng Capital Exits Entire Put Option Position in Planet Fitness
- Exit of Option Position: Yiheng Capital fully exited its put option position in Planet Fitness, comprising 270,000 shares with an estimated trade value of $29,443,500 in Q3 2025, indicating a cautious approach to market volatility.
- Change in AUM: This transaction resulted in a 4.342% decrease in Yiheng Capital's 13F reportable assets under management, reflecting a strategic adjustment in its portfolio management.
- Market Reaction: Although Planet Fitness's stock price experienced a modest decline during Q3, it did not reach levels that would make the options profitable, making Yiheng's exit a prudent decision to avoid potential losses.
- Portfolio Diversification: Yiheng Capital held 27 positions in Q3, including four options, demonstrating its ongoing efforts in a diversified investment strategy.
See More
