NOAH Q3 2019 Earnings Report — Noah Holdings Limited Revenue & Financial Results | Market Cap Arena

Noah Holdings LimitedNOAH

Q3 2019 Earnings

Reported November 12, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2019	Q2 2019	Q3 2018	QoQ Change	YoY Change
Revenue	$123M	$127M	$123M	-3.4%	0.4%
Op. Income	$34M	$37M	$40M	-7.0%	-13.6%
Gross Margin	53.1%	49.8%	54.1%	3.3pp	-1.0pp
Net Margin	22.8%	28.7%	24.8%	-5.9pp	-2.0pp
EPS (Diluted)	$2.26	$2.95	$2.49	-23.3%	-9.1%
Free Cash Flow	$0	$0	$0	—	—

Revenue Flow

Item	Amount
REVENUE	$123M
Cost of Revenue	$58M
GROSS PROFIT	$65M
R&D Expenses	$0
Selling & Marketing	$12M
General & Administrative	$13M
SG&A Expenses	$25M
Other Expenses	$6M
Operating Expenses	$31M
Cost & Expenses	$89M
OPERATING INCOME	$34M
Interest Income	$2M
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$36M
Income Tax Expense	$7M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$28M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$28M
D&A	$0
EBIT	$34M
EBITDA	$34M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$123M
Cost of Revenue	$58M
GROSS PROFIT	$65M
R&D Expenses	$0
Selling & Marketing	$12M
General & Administrative	$13M
SG&A Expenses	$25M
Other Expenses	$6M
Operating Expenses	$31M
Cost & Expenses	$89M
OPERATING INCOME	$34M
Interest Income	$2M
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$36M
Income Tax Expense	$7M
Net Income from Continuing Ops	$30M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$28M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$28M
D&A	$0
EBIT	$34M
EBITDA	$34M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$28M
Depreciation & Amortization	$0
Stock-Based Compensation	$3M
Deferred Income Tax	$0
Other Non-Cash Items	-$31M
Change in Working Capital	$0
OPERATING CASH FLOW	$0
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$0
NET CASH FROM FINANCING	$0
FREE CASH FLOW	$0
Net Change in Cash	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$536M
Short-Term Investments	$81M
Net Receivables	$148M
Inventory	$365.3K
Other Current Assets	$123M
TOTAL CURRENT ASSETS	$889M
PP&E (Net)	$99M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$324M
Tax Assets	$19M
Other Non-Current Assets	$12M
TOTAL NON-CURRENT ASSETS	$453M
TOTAL ASSETS	$1.3B
Account Payables	$148M
Short-Term Debt	$0
Deferred Revenue	$28M
Other Current Liabilities	$77M
TOTAL CURRENT LIABILITIES	$154M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$11M
TOTAL NON-CURRENT LIABILITIES	$65M
TOTAL LIABILITIES	$220M
Common Stock	$1.1B
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$1.1B
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$49M
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$54M
Net Debt	-$482M