NOAH FY 2018 Earnings Report — Noah Holdings Limited Revenue & Financial Results | Market Cap Arena

Noah Holdings LimitedNOAH

FY 2018 Earnings

Reported April 25, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$480M	—	$413M	—	16.4%
Op. Income	$135M	—	$113M	—	19.2%
Gross Margin	52.5%	—	50.2%	—	2.2pp
Net Margin	24.7%	—	27.0%	—	-2.3pp
EPS (Diluted)	$9.74	—	$9.21	—	5.7%
Free Cash Flow	$132M	—	$69M	—	89.5%

Revenue Flow

Item	Amount
REVENUE	$480M
Cost of Revenue	$228M
GROSS PROFIT	$252M
R&D Expenses	$0
Selling & Marketing	$60M
General & Administrative	$41M
SG&A Expenses	$101M
Other Expenses	$15M
Operating Expenses	$117M
Cost & Expenses	$345M
OPERATING INCOME	$135M
Interest Income	$10M
Interest Expense	$1M
Other Income/Expenses	$12M
INCOME BEFORE TAX	$148M
Income Tax Expense	$32M
Net Income from Continuing Ops	$117M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$118M
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$120M
D&A	$13M
EBIT	$149M
EBITDA	$163M
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$480M
Cost of Revenue	$228M
GROSS PROFIT	$252M
R&D Expenses	$0
Selling & Marketing	$60M
General & Administrative	$41M
SG&A Expenses	$101M
Other Expenses	$15M
Operating Expenses	$117M
Cost & Expenses	$345M
OPERATING INCOME	$135M
Interest Income	$10M
Interest Expense	$1M
Other Income/Expenses	$12M
INCOME BEFORE TAX	$148M
Income Tax Expense	$32M
Net Income from Continuing Ops	$117M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$118M
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$120M
D&A	$13M
EBIT	$149M
EBITDA	$163M
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$117M
Depreciation & Amortization	$13M
Stock-Based Compensation	$16M
Deferred Income Tax	-$6M
Other Non-Cash Items	$8M
Change in Working Capital	$1M
OPERATING CASH FLOW	$150M
Capital Expenditure	-$19M
Acquisitions (Net)	-$82M
Purchases of Investments	-$35M
Sales/Maturities of Investments	$56M
Other Investing Activities	$22M
NET CASH FROM INVESTING	-$58M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$16M
NET CASH FROM FINANCING	$16M
FREE CASH FLOW	$132M
Net Change in Cash	$117M

Balance Sheet

Item	Amount
Cash & Equivalents	$395M
Short-Term Investments	$66M
Net Receivables	$255M
Inventory	$0
Other Current Assets	$10M
TOTAL CURRENT ASSETS	$745M
PP&E (Net)	$51M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$351M
Tax Assets	$17M
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$425M
TOTAL ASSETS	$1.2B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$44M
Other Current Liabilities	$17M
TOTAL CURRENT LIABILITIES	$232M
Long-Term Debt	$21M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$10M
Other Non-Current Liabilities	$5M
TOTAL NON-CURRENT LIABILITIES	$36M
TOTAL LIABILITIES	$269M
Common Stock	$14.8K
Additional Paid-In Capital	$277M
Retained Earnings	$576M
Treasury Stock	-$6M
Accum. Other Comp. Income	$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$853M
Minority Interest	$49M
TOTAL EQUITY	$902M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$21M
Net Debt	-$374M