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

Noah Holdings' Cost of Revenue history runs 10 years deep, the most recent figure standing at $8.7 million for Q4 2025.

• Quarterly Cost of Revenue fell 19.54% year-over-year to $8.7 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $34.1 million (down 8.78% YoY) and the FY2025 annual result came in at $34.7 million, down 5.8% from the prior year.
• Cost of Revenue was $8.7 million for Q4 2025 at Noah Holdings, down from $9.6 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $22.2 million in Q4 2023 and bottomed at $7.0 million in Q1 2025.
• A 5-year average of $12.9 million and a median of $10.7 million in 2022 frame the typical range for Cost of Revenue.
• Annual changes were most pronounced in 2021 — Cost of Revenue soared 102.51% — and 2024, when it tumbled 51.26%.
• Noah Holdings' Cost of Revenue stood at $22.0 million in 2021, then dropped by 5.69% to $20.7 million in 2022, then climbed by 7.07% to $22.2 million in 2023, then tumbled by 51.26% to $10.8 million in 2024, then slipped by 19.54% to $8.7 million in 2025.
• Business Quant data shows NOAH's Cost of Revenue at $8.7 million in Q4 2025, $9.6 million in Q3 2025, and $8.7 million in Q2 2025.