Noah Holdings (NOAH) Cost of Revenue (2016 - 2025)
Noah Holdings' (NOAH) quarterly Cost of Revenue came in at $8.7 million in Q4 2025, down 19.54% YoY from $10.8 million in Q4 2024, and down 9.79% on a QoQ basis from $9.6 million in Q3 2025.
Noah Holdings (NOAH) Cost of Revenue (2016 - 2025) Analysis & Trends
Noah Holdings (NOAH) has 10 years of Cost of Revenue data on file, last reported at $8.7 million in 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 retreated to $8.7 million in Q4 2025, from $9.6 million in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $22.2 million in Q4 2023 to a low of $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 plunged 51.26%.
- Tracing NOAH's Cost of Revenue over 5 years: 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | - |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | - |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | - |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | - |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | - |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 613.00 Mn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | - |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 294.00 Mn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | - |
| 10 | Noah Holdings | 613.84 Mn | -93.72 Mn | 96.70 Mn | 8.70 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 8.70 Mn |
| Dec 31, 2025 | 8.70 Mn |
| Sep 30, 2025 | 9.64 Mn |
| Sep 30, 2025 | 9.64 Mn |
| Jun 30, 2025 | 8.70 Mn |
| Jun 30, 2025 | 8.70 Mn |
| Mar 31, 2025 | 7.04 Mn |
| Mar 31, 2025 | 7.04 Mn |
| Dec 31, 2024 | 10.81 Mn |
| Dec 31, 2024 | 10.81 Mn |
| Sep 30, 2024 | 9.40 Mn |
| Sep 30, 2024 | 9.40 Mn |
| Jun 30, 2024 | 8.52 Mn |
| Jun 30, 2024 | 8.52 Mn |
| Mar 31, 2024 | 8.63 Mn |
| Mar 31, 2024 | 8.63 Mn |
| Dec 31, 2023 | 22.17 Mn |
| Dec 31, 2023 | 22.17 Mn |
| Sep 30, 2023 | 16.41 Mn |
| Sep 30, 2023 | 16.41 Mn |