Noah Holdings Ltd.

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NOAH : NYSE : Finance
$47.69 -0.35 | -0.73%
Today's Range: 47.35 - 48.39
Avg. Daily Volume: 293400.0
02/16/18 - 4:02 PM ET

Financial Analysis


NOAH HOLDINGS LTD -ADR's gross profit margin for the third quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. NOAH HOLDINGS LTD -ADR is extremely liquid. Currently, the Quick Ratio is 2.11 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has decreased from the same period last year, indicating deteriorating cash flow.

At the same time, stockholders' equity ("net worth") has greatly increased by 30.04% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is very unlikely to face financial difficulties in the near future.

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Income Statement Q3 FY17 Q3 FY16
Net Sales ($mil)102.8691.24
EBITDA ($mil)0.00.0
EBIT ($mil)23.3117.89
Net Income ($mil)27.9423.28


Balance Sheet Q3 FY17 Q3 FY16
Cash & Equiv. ($mil)362.6337.73
Total Assets ($mil)913.23727.52
Total Debt ($mil)75.080.0
Equity ($mil)609.67468.82


Profitability Q3 FY17 Q3 FY16
Gross Profit Margin42.7941.42
EBITDA Margin0.00.0
Operating Margin22.6719.61
Sales Turnover0.430.5
Return on Assets11.2312.49
Return on Equity16.8219.39
Debt Q3 FY17 Q3 FY16
Current Ratio2.233.49
Debt/Capital0.110.15
Interest Expense0.710.73
Interest Coverage32.7924.41


Share Data Q3 FY17 Q3 FY16
Shares outstanding (mil)56.7156.43
Div / share0.00.0
EPS0.470.4
Book value / share10.758.31
Institutional Own % n/a n/a
Avg Daily Volume292451.0245495.0

Valuation


BUY. NOAH HOLDINGS LTD -ADR's P/E ratio indicates a discount compared to an average of 29.00 for the Capital Markets industry and a value on par with the S&P 500 average of 24.11. To use another comparison, its price-to-book ratio of 3.88 indicates a premium versus the S&P 500 average of 3.08 and a discount versus the industry average of 4.75. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, NOAH HOLDINGS LTD -ADR proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
NOAH 24.00 Peers 29.00   NOAH NA Peers 28.61

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

NOAH is trading at a discount to its peers.

 

Neutral. The P/CF ratio is the stock’s price divided by the sum of the company's cash flow from operations. It is useful for comparing companies with different capital requirements or financing structures.

Ratio not available.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
NOAH 16.65 Peers 20.45   NOAH 0.78 Peers 0.78

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

NOAH is trading at a valuation on par with its peers.

 

Average. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

NOAH trades at a valuation on par to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
NOAH 3.88 Peers 4.75   NOAH 12.25 Peers 29.06

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

NOAH is trading at a discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, NOAH is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
NOAH 6.01 Peers 5.01   NOAH 9.27 Peers 13.90

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

NOAH is trading at a premium to its industry on this measurement.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

NOAH significantly trails its peers on the basis of sales growth

 

 

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