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Noah HoldingsNOAH -0.81%73 PB Ratio is 0.40 as of Jul. 24, 2026, which is 63% below its 10-year median of 1.08. 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 1,600 Asset Management companies, Noah Holdings ranks better than 93.31% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-24), Noah Holdings's share price is $8.57. Noah Holdings's Book Value per Share for the quarter that ended in Mar. 2026 was $21.67. Hence, Noah Holdings's PB Ratio of today is 0.40.
Good Sign:
Noah Holdings Ltd stock PB Ratio (=0.4) is close to 2-year low of 0.37.
The historical rank and industry rank for Noah Holdings's PB Ratio or its related term are showing as below:
NOAH'
s PB Ratio Range Over the Past 10 Years
Min: 0.06 Med: 1.08 Max: 3.81
Current: 0.4
During the past 13 years, Noah Holdings's highest PB Ratio was 3.81. The lowest was 0.06. And the median was 1.08.
NOAH's PB Ratio is ranked better than 93.31% of 1600
companies
in the Asset Management industry
Industry Median: 0.945
vs NOAH: 0.40
During the past 12 months, Noah Holdings's average Book Value Per Share Growth Rate was 3.50% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -1.00% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -4.30% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 8.90% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Noah Holdings was 517.90% per year. The lowest was -9.50% per year. And the median was 22.80% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Noah Holdings PB Ratio Related Terms
Noah Holdings PB Ratio Historical Data
* Premium members only.
The historical data trend for Noah Holdings's PB Ratio 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.
For the Asset Management subindustry, Noah Holdings's PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Noah Holdings's PB Ratio distribution charts can be found below:
* The bar in red indicates where Noah Holdings's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Noah Holdings's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Noah Holdings (NOAH) has a PB Ratio of 0.40 as of Jul. 24, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Noah Holdings and its competitors. This is 63% below median its historical median of 1.08. Over the past decade, Noah Holdings' PB Ratio has ranged from 0.06 to 3.81. According to the industry distribution chart, Noah Holdings ranks #107 out of 1600 companies in the Asset Management industry, placing it in the top 6.7%.
Is Noah Holdings' PB Ratio too high?
Noah Holdings' current PB Ratio of 0.40 is 63% below median its 10-year median of 1.08. Over the past 10 years, this metric has ranged from a low of 0.06 to a high of 3.81. The Asset Management industry median PB Ratio is 0.95. Noah Holdings' value of 0.40 is 57.7% below this industry median. Based on the distribution chart, Noah Holdings ranks #107 out of 1600 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' PB Ratio compare to BHK and MUJ?
According to the Asset Management industry distribution chart, Noah Holdings ranks #107 out of 1600 companies for PB Ratio. This places Noah Holdings in the top 7% of its industry — outperforming the majority of peers. The industry median PB Ratio is 0.95. Noah Holdings' value of 0.40 is 57.7% below this benchmark. Historically, Noah Holdings' own PB Ratio has ranged from 0.06 to 3.81 over the past decade. While the company's 10-year median is 1.08 vs. the industry median of 0.95, Noah Holdings has consistently been below 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 PB Ratio for an Asset Management company?
The median PB Ratio among Asset Management companies is 0.95, based on 1,600 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Noah Holdings's current PB Ratio of 0.40 is 57.7% below 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Noah Holdings and its competitors. For the Asset Management industry, the median PB Ratio is 0.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Noah Holdings's current PB Ratio is 0.40, which is 63% below median its own 10-year median of 1.08. 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 PB Ratio is 0.40, which is 63% below median its 10-year median of 1.08 and 57.7% below the Asset Management industry median of 0.95. 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 PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Noah Holdings (NOAH), the current PB Ratio is 0.40 as of Jul. 24, 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:
PB Ratio: 0.40 (63% below median its 10-year median of 1.08)
GF Value™: $11.20 vs. price of $8.57 (23.5% below fair value)
Industry Position: 57.7% below the Asset Management median (#107 of 1600)
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
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