Noah Holdings LTD balance sheet

At the end of fiscal 2025, Noah Holdings LTD had total assets of $1.68bn, total liabilities of $251m and shareholders' equity of $1.41bn. It held $624m in cash against $0 of debt: net cash of $624m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Noah Holdings LTD: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	12	133	137	120	196	270	307	430	293	393	630	767	534	639	731	524	624
Receivables	—	1	6	10	8	11	19	29	27	41	32	67	127	72	71	65	60
Total current assets	—	141	171	190	263	366	504	682	620	742	967	1,027	866	916	1,002	887	910
Total assets	—	149	181	205	303	431	632	858	998	1,166	1,408	1,441	1,709	1,711	1,787	1,614	1,679
Deferred revenue (current)	—	—	1	5	16	16	11	13	31	21	14	11	10	10	10	10	8
Total current liabilities	—	15	17	26	63	112	149	227	280	231	216	288	358	276	266	196	204
Short-term debt	—	—	—	—	—	8	0	—	—	—	—	—	—	—	—	—	—
Long-term debt	—	—	—	—	—	—	80	80	—	21	—	—	—	—	—	—	—
Total debt	0	0	0	0	0	8	80	80	—	21	—	0	0	0	0	0	0
Total liabilities	—	17	20	30	68	118	241	322	305	267	277	325	431	333	318	242	251
Shareholders' equity	5	132	161	173	224	299	378	480	681	849	1,007	1,101	1,262	1,364	1,452	1,363	1,405
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	11	14	13	56	—	49	124	—	—	—	—	—	—
Net debt (negative = net cash)	−12	−133	−137	−120	−196	−262	−227	−350	−293	−372	−630	−767	−534	−639	−731	−524	−624
Shares outstanding	—	—	6m	5m	6m	6m	6m	—	—	—	—	—	—	63m	65m	66m	67m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Noah Holdings LTD's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Noah Holdings LTD.