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Noah HoldingsNOAH -0.81%73 Net Current Asset Value is $10.61 as of Mar. 2026, which is 467% above its 10-year median of 1.87. GuruFocus rates NOAH with a GF Score™ of 73/100 and a GF Value™ of $11.20 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 373 Asset Management companies, Noah Holdings ranks better than 85.25% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Noah Holdings's net current asset value per share for the quarter that ended in Mar. 2026 was $10.61.
The historical rank and industry rank for Noah Holdings's Net Current Asset Value or its related term are showing as below:
NOAH'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 0.24 Med: 1.87 Max: 6.53
Current: 0.81
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Noah Holdings was 6.53. The lowest was 0.24. And the median was 1.87.
NOAH's Price-to-Net-Current-Asset-Value is ranked better than 85.25% of 373
companies
in the Asset Management industry
Industry Median: 3.38
vs NOAH: 0.81
Noah Holdings (NYSE:NOAH) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Noah Holdings Net Current Asset Value Related Terms
Noah Holdings Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Noah Holdings's Net Current Asset Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NOAH vs BHK, MUJ, BOE: Net Current Asset Value Comparison
For the Asset Management subindustry, Noah Holdings's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Noah Holdings Price-to-Net-Current-Asset-Value vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Noah Holdings's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Noah Holdings's Price-to-Net-Current-Asset-Value falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Net Current Asset Value of $10.61 mean?
Noah Holdings (NOAH) has a Net Current Asset Value of $10.61 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Noah Holdings and its competitors. This is 467% above median its historical median of 1.87. Over the past decade, Noah Holdings' Net Current Asset Value has ranged from 0.24 to 6.53. According to the industry distribution chart, Noah Holdings ranks #55 out of 373 companies in the Asset Management industry, placing it in the top 14.7%.
Is Noah Holdings' Net Current Asset Value too high?
Noah Holdings' current Net Current Asset Value of $10.61 is 467% above median its 10-year median of 1.87. Over the past 10 years, this metric has ranged from a low of 0.24 to a high of 6.53. The Asset Management industry median Net Current Asset Value is 3.38. Noah Holdings' value of $10.61 is 213.9% above this industry median. Based on the distribution chart, Noah Holdings ranks #55 out of 373 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Noah Holdings has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Noah Holdings' Net Current Asset Value compare to BHK and MUJ?
According to the Asset Management industry distribution chart, Noah Holdings ranks #55 out of 373 companies for Net Current Asset Value. This places Noah Holdings in the top 15% of its industry — outperforming the majority of peers. The industry median Net Current Asset Value is 3.38. Noah Holdings' value of $10.61 is 213.9% above this benchmark. Historically, Noah Holdings' own Net Current Asset Value has ranged from 0.24 to 6.53 over the past decade. While the company's 10-year median is 1.87 vs. the industry median of 3.38, Noah Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for an Asset Management company?
The median Net Current Asset Value among Asset Management companies is 3.38, based on 373 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Noah Holdings's current Net Current Asset Value of $10.61 is 213.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Noah Holdings and its competitors. For the Asset Management industry, the median Net Current Asset Value is 3.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Noah Holdings's current Net Current Asset Value is $10.61, which is 467% above median its own 10-year median of 1.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Noah Holdings stock overvalued right now?
Based on GuruFocus' analysis, Noah Holdings (NOAH) is currently considered Modestly Undervalued. The stock's GF Value™ is $11.20, compared to a current price of $8.57 — trading 23.5% below its estimated fair value. The current Net Current Asset Value is $10.61, which is 467% above median its 10-year median of 1.87 and 213.9% above the Asset Management industry median of 3.38. Noah Holdings' overall GF Score™ is 73/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Noah Holdings (NOAH), the current Net Current Asset Value is $10.61 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Noah Holdings (NOAH) Overvalued in 2026?
Based on GuruFocus' analysis, Noah Holdings stock appears to be undervalued.
The current stock price of $8.57 is trading 23.5% below its estimated GF Value™ of $11.20.
GuruFocus considers Noah Holdings to be Modestly Undervalued.
Key valuation signals for NOAH:
Net Current Asset Value: $10.61 (467% above median its 10-year median of 1.87)
GF Value™: $11.20 vs. price of $8.57 (23.5% below fair value)
Industry Position: 213.9% above the Asset Management median (#55 of 373)
No single metric tells the full story. See the NOAH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Noah Holdings Ltd is a wealth management service provider offering comprehensive advisory services on investment and asset allocation, mainly for Mandarin-speaking high-net-worth (HNW) investors. The company's operating segments are Domestic public securities, Domestic asset management, Domestic insurance, Overseas wealth management, Overseas asset management, Overseas insurance and comprehensive services, and Headquarters. Maximum revenue is generated from its Domestic asset management business, which manages private equity funds, real estate equity funds, and private secondary products. The domestic asset management operations focus on managing primary market exits and cross-border ETF products in the secondary market. Geographically, it derives maximum revenue from Mainland China.
73GF Score
Get the complete analysis for NOAH
Net Current Asset Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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