Noah Holdings (NOAH) Cost of Revenue (2016 - 2025)

Noah Holdings has reported Cost of Revenue for 10 years, with the latest figure at $8.7 million in Q4 2025.

• For the quarter ending Q4 2025, Cost of Revenue fell 19.54% year-over-year to $8.7 million; the trailing twelve-month figure through Dec 2025 stood at $34.1 million (down 8.78% YoY), and the FY2025 full-year result was $34.7 million, down 5.8% from the prior year.
• Cost of Revenue for Q4 2025 stood at $8.7 million, down from $9.6 million in the prior quarter.
• The five-year high for Cost of Revenue was $22.2 million in Q4 2023, with the low at $7.0 million in Q1 2025.
• Historically, Cost of Revenue has averaged $12.9 million across 5 years, with a median of $10.7 million in 2022.
• Annual changes were most pronounced in 2021 — Cost of Revenue soared 102.51% — and 2024, when it plunged 51.26%.
• Noah Holdings' Cost of Revenue stood at $22.0 million in 2021, then decreased by 5.69% to $20.7 million in 2022, then gained by 7.07% to $22.2 million in 2023, then sank by 51.26% to $10.8 million in 2024, then retreated by 19.54% to $8.7 million in 2025.
• The last three Cost of Revenue figures came in at $8.7 million (Q4 2025), $9.6 million (Q3 2025), and $8.7 million (Q2 2025), per Business Quant data.