Noah Holdings (NOAH) Operating Margin (2016 - 2025)

Noah Holdings' Operating Margin history runs 10 years deep, the most recent figure standing at 35.15% for Q4 2025.

• Quarterly Operating Margin rose 1405.0% year-over-year to 35.15% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 29.78% (up 532.0% YoY) and the FY2025 annual result came in at 29.75%, up 557.0% from the prior year.
• Operating Margin was 35.15% for Q4 2025 at Noah Holdings, up from 27.16% in the prior quarter.
• Across five years, Operating Margin topped out at 43.78% in Q2 2022 and bottomed at 10.5% in Q4 2021.
• A 5-year average of 30.18% and a median of 31.72% in 2023 frame the typical range for Operating Margin.
• Annual changes were most pronounced in 2021 — Operating Margin plunged 2469 bps — and 2022, when it soared 1441 bps.
• Noah Holdings' Operating Margin stood at 10.5% in 2021, then jumped by 137 bps to 24.91% in 2022, then increased by 11 bps to 27.61% in 2023, then slipped by 24 bps to 21.1% in 2024, then soared by 67 bps to 35.15% in 2025.
• Business Quant data shows NOAH's Operating Margin at 35.15% in Q4 2025, 27.16% in Q3 2025, and 25.58% in Q2 2025.