Noah Holdings (NOAH) Gross Margin (2016 - 2025)
Noah Holdings (NOAH) posted Gross Margin of 91.71% for Q4 2025, up 2.86% on a QoQ basis from 89.16% in Q3 2025, and up 381.0% year-over-year from 19.07% in Q4 2024.
Noah Holdings (NOAH) Gross Margin (2016 - 2025) Analysis & Trends
Noah Holdings' Gross Margin history runs 10 years deep, the most recent figure standing at 91.71% for Q4 2025.
- Quarterly Gross Margin rose 381.0% year-over-year to 91.71% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 90.66% (up 100.0% YoY) and the FY2025 annual result came in at 88.99%, down 75.0% from the prior year.
- Gross Margin was 91.71% for Q4 2025 at Noah Holdings, up from 89.16% in the prior quarter.
- Across five years, Gross Margin topped out at 93.19% in Q1 2021 and bottomed at 80.31% in Q4 2023.
- A 5-year average of 88.78% and a median of 89.05% in 2021 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin sank 509 bps — and 2024, when it jumped 759 bps.
- Noah Holdings' Gross Margin stood at 88.9% in 2021, then fell by 6 bps to 83.81% in 2022, then fell by 4 bps to 80.31% in 2023, then climbed by 9 bps to 87.9% in 2024, then rose by 4 bps to 91.71% in 2025.
- Business Quant data shows NOAH's Gross Margin at 91.71% in Q4 2025, 89.16% in Q3 2025, and 90.1% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Brookfield | 1,236.60 Bn | 1,311.20 Bn | 18.56 Bn | 99.89% |
| 2 | BlackRock | 161.01 Bn | 148.08 Bn | - | - |
| 3 | Blackstone | 97.77 Bn | 96.72 Bn | - | - |
| 4 | Apollo Global Management | 70.80 Bn | 90.38 Bn | -409.00 Mn | -188.48% |
| 5 | State Street | 51.30 Bn | 51.30 Bn | - | - |
| 6 | Ameriprise Financial | 48.54 Bn | 39.27 Bn | 4.57 Bn | 93.51% |
| 7 | Northern Trust | 32.93 Bn | 32.93 Bn | - | - |
| 8 | Raymond James Financial | 32.59 Bn | 17.67 Bn | - | - |
| 9 | Price T Rowe | 24.70 Bn | 21.13 Bn | - | - |
| 10 | Noah Holdings | 42.59 Mn | -642.97 Mn | 96.16 Mn | 91.71% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 91.71% |
| Sep 30, 2025 | 89.16% |
| Jun 30, 2025 | 90.10% |
| Mar 31, 2025 | 91.53% |
| Dec 31, 2024 | 87.90% |
| Sep 30, 2024 | 90.36% |
| Jun 30, 2024 | 89.95% |
| Mar 31, 2024 | 90.40% |
| Dec 31, 2023 | 80.31% |
| Sep 30, 2023 | 84.04% |
| Jun 30, 2023 | 88.11% |
| Mar 31, 2023 | 87.97% |
| Dec 31, 2022 | 83.81% |
| Sep 30, 2022 | 88.90% |
| Jun 30, 2022 | 90.47% |
| Mar 31, 2022 | 92.47% |
| Dec 31, 2021 | 88.90% |
| Sep 30, 2021 | 87.42% |
| Jun 30, 2021 | 88.94% |
| Mar 31, 2021 | 93.19% |