Noah Holdings (NOAH) Operating Leases (2019 - 2025)

Noah Holdings (NOAH) posted Operating Leases of $8.5 million for Q4 2025, down 19.29% on a QoQ basis from $10.5 million in Q4 2024, and down 19.29% year-over-year from $10.5 million in Q4 2024.

Noah Holdings (NOAH) has 7 years of Operating Leases data on file, last reported at $8.5 million in Q4 2025.

  • In Q4 2025, Operating Leases fell 19.29% year-over-year to $8.5 million; the TTM figure through Dec 2025 stood at $8.5 million (down 19.29% YoY), while the FY2025 annual figure was $8.6 million, down 16.82% from the prior year.
  • Operating Leases fell to $8.5 million in Q4 2025, from $10.5 million in the prior quarter.
  • Across five years, Operating Leases topped out at $20.5 million in Q4 2021 and bottomed at $8.5 million in Q4 2025.
  • A 5-year average of $12.4 million and a median of $10.6 million in 2023 frame the typical range for Operating Leases.
  • Annual changes were most pronounced in 2022 — Operating Leases sank 42.91% — and 2024, when it fell 0.82%.
  • Year by year, Operating Leases stood at $20.5 million in 2021, then sank by 42.91% to $11.7 million in 2022, then decreased by 9.1% to $10.6 million in 2023, then retreated by 0.82% to $10.5 million in 2024, then dropped by 19.29% to $8.5 million in 2025.
  • The last three Operating Leases figures came in at $8.5 million (Q4 2025), $10.5 million (Q4 2024), and $10.6 million (Q4 2023), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 BlackRock 158.51 Bn 148.89 Bn -
2 Blackstone 92.68 Bn 91.63 Bn -
3 Kkr 84.94 Bn 132.45 Bn -
4 Brookfield Asset Management 77.34 Bn 77.68 Bn -
5 Apollo Global Management 76.27 Bn 95.00 Bn 5.04 Bn
6 State Street 44.42 Bn 18.75 Bn -
7 Ameriprise Financial 41.68 Bn 41.55 Bn 4.57 Bn
8 Northern Trust 31.21 Bn 31.21 Bn -
9 Ares Management 28.85 Bn 32.22 Bn -
10 Noah Holdings 521.74 Mn 449.47 Mn -

Historic Data

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DateValue
Dec 31, 2025 8.51 Mn
Sep 30, 2025 8.38 Mn
Jun 30, 2025 9.72 Mn
Mar 31, 2025 8.83 Mn
Dec 31, 2024 10.54 Mn
Sep 30, 2024 11.07 Mn
Jun 30, 2024 7.57 Mn
Mar 31, 2024 9.74 Mn
Dec 31, 2023 10.63 Mn
Sep 30, 2023 10.61 Mn
Jun 30, 2023 10.93 Mn
Mar 31, 2023 13.71 Mn
Dec 31, 2022 11.69 Mn
Sep 30, 2022 14.21 Mn
Jun 30, 2022 14.33 Mn
Mar 31, 2022 19.05 Mn
Dec 31, 2021 20.48 Mn
Sep 30, 2021 24.19 Mn
Jun 30, 2021 26.20 Mn
Mar 31, 2021 27.52 Mn
Dec 31, 2020 29.33 Mn
Sep 30, 2020 42.58 Mn
Jun 30, 2020 49.01 Mn
Mar 31, 2020 48.59 Mn
Dec 31, 2019 51.47 Mn
Sep 30, 2019 51.88 Mn
Jun 30, 2019 55.48 Mn
Mar 31, 2019 46.44 Mn