NOAH FY 2023 Earnings Report — Noah Holdings Limited Revenue & Financial Results | Market Cap Arena

Noah Holdings LimitedNOAH

FY 2023 Earnings

Reported April 24, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$481M	—	$453M	—	6.3%
Op. Income	$160M	—	$159M	—	0.9%
Gross Margin	55.8%	—	53.5%	—	2.3pp
Net Margin	30.6%	—	31.5%	—	-0.9pp
EPS (Diluted)	$10.62	—	$10.43	—	1.8%
Free Cash Flow	$170M	—	$83M	—	103.5%

Revenue Flow

Item	Amount
REVENUE	$481M
Cost of Revenue	$213M
GROSS PROFIT	$269M
R&D Expenses	$0
Selling & Marketing	$71M
General & Administrative	$40M
SG&A Expenses	$111M
Other Expenses	-$3M
Operating Expenses	$108M
Cost & Expenses	$321M
OPERATING INCOME	$160M
Interest Income	$24M
Interest Expense	$0
Other Income/Expenses	$24M
INCOME BEFORE TAX	$185M
Income Tax Expense	$38M
Net Income from Continuing Ops	$146M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$148M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$148M
D&A	$23M
EBIT	$160M
EBITDA	$184M
EPS	$11
EPS Diluted	$11

Income Statement

Item	Amount
REVENUE	$481M
Cost of Revenue	$213M
GROSS PROFIT	$269M
R&D Expenses	$0
Selling & Marketing	$71M
General & Administrative	$40M
SG&A Expenses	$111M
Other Expenses	-$3M
Operating Expenses	$108M
Cost & Expenses	$321M
OPERATING INCOME	$160M
Interest Income	$24M
Interest Expense	$0
Other Income/Expenses	$24M
INCOME BEFORE TAX	$185M
Income Tax Expense	$38M
Net Income from Continuing Ops	$146M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$148M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$148M
D&A	$23M
EBIT	$160M
EBITDA	$184M
EPS	$11
EPS Diluted	$11

Cash Flow Statement

Item	Amount
Net Income	$146M
Depreciation & Amortization	$23M
Stock-Based Compensation	$2M
Deferred Income Tax	$0
Other Non-Cash Items	$18M
Change in Working Capital	$4M
OPERATING CASH FLOW	$193M
Capital Expenditure	-$23M
Acquisitions (Net)	-$2M
Purchases of Investments	-$78M
Sales/Maturities of Investments	$43M
Other Investing Activities	$23M
NET CASH FROM INVESTING	-$36M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$26M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$29M
FREE CASH FLOW	$170M
Net Change in Cash	$134M

Balance Sheet

Item	Amount
Cash & Equivalents	$759M
Short-Term Investments	$55M
Net Receivables	$173M
Inventory	$0
Other Current Assets	$53M
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$383M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$341M
Tax Assets	$0
Other Non-Current Assets	$89M
TOTAL NON-CURRENT ASSETS	$814M
TOTAL ASSETS	$1.9B
Account Payables	$15M
Short-Term Debt	$28M
Deferred Revenue	$0
Other Current Liabilities	$108M
TOTAL CURRENT LIABILITIES	$276M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$38M
Other Non-Current Liabilities	$4M
TOTAL NON-CURRENT LIABILITIES	$54M
TOTAL LIABILITIES	$330M
Common Stock	$16.1K
Additional Paid-In Capital	$555M
Retained Earnings	$941M
Treasury Stock	$0
Accum. Other Comp. Income	$11M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$17M
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$48M
Net Debt	-$711M