Noah Holdings (NOAH) Operating Margin (2016 - 2026)
Noah Holdings' (NOAH) quarterly Operating Margin came in at 34.81% in Q2 2026, up 923.0% on a YoY basis from 3.4% in Q2 2025, and down 7.86% quarter-over-quarter from 37.78% in Q1 2026.
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Noah Holdings (NOAH) Operating Margin (2016 - 2026) Analysis & Trends
Noah Holdings (NOAH) has reported Operating Margin for 11 consecutive years, with 34.81% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin rose 923.0% year-over-year to 34.81%; the trailing twelve-month figure through Jun 2026 stood at 33.81% (up 563.0% YoY), and the FY2025 full-year result was 29.75%, up 538.0% from the prior year.
- Operating Margin slipped to 34.81% in Q2 2026 per NOAH's latest filing, from 37.78% in the prior quarter.
- Across five years, Operating Margin topped out at 43.78% in Q2 2022 and bottomed at 18.7% in Q1 2024.
- Historically, Operating Margin has averaged 31.23% across 5 years, with a median of 33.52% in 2022.
- The sharpest annual moves came in 2022 and 2024: Operating Margin jumped 1441 bps in 2022, then slumped 1601 bps in 2024.
- Over 5 years, Operating Margin stood at 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, then declined by 1 bps to 34.81% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 34.81%, 37.78%, and 35.15% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 166.84 Bn | 152.97 Bn | - | 34.74% |
| 2 | Spdr Gold Trust | 146.01 Bn | -412.00 Bn | - | - |
| 3 | Ishares Gold Trust | 30.54 Bn | -29.57 Bn | - | - |
| 4 | World Gold Trust | 29.53 Bn | -73.54 Bn | - | - |
| 5 | Principal Financial | 24.58 Bn | -28.39 Bn | 1.91 Bn | 33.33% |
| 6 | iShares Silver Trust | 22.65 Bn | -5.56 Bn | - | - |
| 7 | Franklin Resources | 17.60 Bn | 13.88 Bn | - | 9.15% |
| 8 | Invesco | 14.52 Bn | 13.60 Bn | 1.79 Bn | 19.95% |
| 9 | Affiliated Managers | 9.42 Bn | 9.01 Bn | - | - |
| 10 | Noah Holdings | 573.39 Mn | -165.96 Mn | 82.80 Mn | 34.81% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 34.81% |
| Mar 31, 2026 | 37.78% |
| Dec 31, 2025 | 35.15% |
| Sep 30, 2025 | 27.16% |
| Jun 30, 2025 | 25.58% |
| Mar 31, 2025 | 30.26% |
| Dec 31, 2024 | 21.10% |
| Sep 30, 2024 | 35.22% |
| Jun 30, 2024 | 21.76% |
| Mar 31, 2024 | 18.70% |
| Dec 31, 2023 | 27.61% |
| Sep 30, 2023 | 33.19% |
| Jun 30, 2023 | 37.10% |
| Mar 31, 2023 | 34.71% |
| Dec 31, 2022 | 24.91% |
| Sep 30, 2022 | 33.86% |
| Jun 30, 2022 | 43.78% |
| Mar 31, 2022 | 39.44% |
| Dec 31, 2021 | 10.50% |
| Sep 30, 2021 | 25.18% |