Noah Holdings Limited (6NO) - Net Assets
Based on the latest financial reports, Noah Holdings Limited (6NO) has net assets worth €9.98 Billion EUR (≈ $11.67 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€11.74 Billion ≈ $13.73 Billion USD) and total liabilities (€1.76 Billion ≈ $2.06 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check 6NO tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | €9.98 Billion |
| % of Total Assets | 85.03% |
| Annual Growth Rate | 12.75% |
| 5-Year Change | 22.62% |
| 10-Year Change | N/A |
| Growth Volatility | 15.25 |
Noah Holdings Limited - Net Assets Trend (2016–2025)
This chart illustrates how Noah Holdings Limited's net assets have evolved over time, based on quarterly financial data. See Noah Holdings Limited (6NO) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Noah Holdings Limited (2016–2025)
The table below shows the annual net assets of Noah Holdings Limited from 2016 to 2025. For live valuation and market cap data, see 6NO company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | €9.98 Billion ≈ $11.67 Billion |
-0.30% |
| 2024-12-31 | €10.01 Billion ≈ $11.71 Billion |
-3.98% |
| 2023-12-31 | €10.43 Billion ≈ $12.19 Billion |
+9.76% |
| 2022-12-31 | €9.50 Billion ≈ $11.11 Billion |
+16.69% |
| 2021-12-31 | €8.14 Billion ≈ $9.52 Billion |
+11.88% |
| 2020-12-31 | €7.28 Billion ≈ $8.51 Billion |
-7.59% |
| 2019-12-31 | €7.87 Billion ≈ $9.21 Billion |
+27.52% |
| 2018-12-31 | €6.18 Billion ≈ $7.22 Billion |
+36.99% |
| 2017-12-31 | €4.51 Billion ≈ $5.27 Billion |
+32.92% |
| 2016-12-31 | €3.39 Billion ≈ $3.96 Billion |
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Equity Component Analysis
This analysis shows how different components contribute to Noah Holdings Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 159.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | €5.82 Billion | 59.18% |
| Other Components | €4.01 Billion | 40.82% |
| Total Equity | €9.83 Billion | 100.00% |
Noah Holdings Limited Competitors by Market Cap
The table below lists competitors of Noah Holdings Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Shenzhen Neptunus Bioengineering Co Ltd
SHE:000078
|
$596.77 Million |
|
Carriage Services Inc
NYSE:CSV
|
$596.90 Million |
|
TPI POLENE POWER
BK:TPIPP-R
|
$596.95 Million |
|
Rainbow Tours SA
WAR:RBW
|
$597.13 Million |
|
HANSEN TECHNOLOGIES LTD.
F:H2T
|
$596.65 Million |
|
China Catalyst Holding Co. Ltd. A
SHG:688267
|
$596.40 Million |
|
Haoxiangni Jujube Co Ltd
SHE:002582
|
$596.18 Million |
|
Shenzhen Keanda Electronic Techno
SHE:002972
|
$596.14 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Noah Holdings Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 9,945,848,000 to 9,826,851,000, a change of -118,997,000 (-1.2%).
- Net income of 558,857,000 contributed positively to equity growth.
- Dividend payments of 546,770,000 reduced retained earnings.
- Share repurchases of 52,295,000 reduced equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | €558.86 Million | +5.69% |
| Dividends Paid | €546.77 Million | -5.56% |
| Share Repurchases | €52.30 Million | -0.53% |
| Other Changes | €-78.79 Million | -0.8% |
| Total Change | €- | -1.20% |
Book Value vs Market Value Analysis
This analysis compares Noah Holdings Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.30x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.06x to 0.30x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2017-12-31 | €154.33 | €8.95 | x |
| 2018-12-31 | €194.17 | €8.95 | x |
| 2019-12-31 | €227.71 | €8.95 | x |
| 2020-12-31 | €238.26 | €8.95 | x |
| 2021-12-31 | €270.67 | €8.95 | x |
| 2022-12-31 | €303.51 | €8.95 | x |
| 2023-12-31 | €30.81 | €8.95 | x |
| 2024-12-31 | €30.10 | €8.95 | x |
| 2025-12-31 | €29.48 | €8.95 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Noah Holdings Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.69%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 21.41%
- • Asset Turnover: 0.22x
- • Equity Multiplier: 1.19x
- Recent ROE (5.69%) is below the historical average (9.87%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 19.32% | 25.61% | 0.42x | 1.79x | €310.61 Million |
| 2017 | 17.22% | 26.99% | 0.44x | 1.47x | €320.00 Million |
| 2018 | 13.90% | 24.66% | 0.41x | 1.37x | €227.53 Million |
| 2019 | 11.82% | 24.45% | 0.35x | 1.40x | €127.80 Million |
| 2020 | -10.24% | -22.54% | 0.35x | 1.29x | €-1.47 Billion |
| 2021 | 16.14% | 30.61% | 0.39x | 1.34x | €499.97 Million |
| 2022 | 10.28% | 31.50% | 0.26x | 1.24x | €26.52 Million |
| 2023 | 9.79% | 30.64% | 0.26x | 1.23x | €-21.54 Million |
| 2024 | 4.78% | 18.28% | 0.22x | 1.18x | €-519.14 Million |
| 2025 | 5.69% | 21.41% | 0.22x | 1.19x | €-423.83 Million |
Industry Comparison
This section compares Noah Holdings Limited's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $20,912,165,369
- Average return on equity (ROE) among peers: 2.68%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Noah Holdings Limited (6NO) | €9.98 Billion | 19.32% | 0.18x | $596.72 Million |
| China Cinda Asset Management Co., Ltd. (0CI) | $208.00 Billion | 3.04% | 6.77x | $1.74 Billion |
| Quinsam Capital Corporation (0Q4) | $2.97 Million | 23.33% | 0.01x | $2.01 Million |
| tokentus investment AG (14D) | $11.34 Million | -20.03% | 0.03x | $7.34 Million |
| TEAM PLC (1WQ) | $8.22 Million | -5.41% | 0.94x | $18.21 Million |
| CARLSON INV. ZY 13 (2HB) | $33.04 Million | -1.68% | 0.17x | $4.84 Million |
| JTC PLC LS-01 (2N9) | $533.94 Million | -1.36% | 0.91x | $2.55 Billion |
| Rostra AG (3330) | $0.00 | 0.00% | 0.00x | $8.82 Million |
| HELIOS FAIRFAX PARTNERS (3UD) | $474.60 Million | -15.10% | 0.03x | $78.45 Million |
| ALEXANDRIA PANKKIIRILIIKE (3ZL) | $34.31 Million | 23.48% | 0.31x | $109.68 Million |
| HAMILTON GLB.OPP.LS-0001 (5DS) | $28.12 Million | 20.52% | 0.19x | $25.26 Million |
About Noah Holdings Limited
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 Domestic Public Securities, Domestic Asset Management, Domestic Insurance, Overseas Wealth Managem… Read more