ZHNYSEServices-Business Services, NECFiscal year ends December 31Also trades as ZHIHF
Zhihu Inc.
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 17, 2026
$3.44+0.05 (+1.47%)
Close on Oct 19, 2026
Zhihu statistics
Financials through Dec 31, 2025, price-based ratios appear once a share price is available, median of Services-Business Services, NEC companies for comparison
Valuation
| Measure | Zhihu | Industry median |
|---|---|---|
| Market Cap | CN¥2.07B | CN¥961.81M |
| Enterprise Value | -CN¥2.03B | CN¥359.35M |
| PS Ratio | 0.75 | 1.22 |
| PB Ratio | 0.54 | 0.69 |
| P/TBV Ratio | 0.55 | 0.82 |
Enterprise value
| Measure | Zhihu | Industry median |
|---|---|---|
| EV / Sales | -0.74 | 0.73 |
Income (trailing twelve months)
| Measure | Zhihu | Industry median |
|---|---|---|
| Revenue | CN¥2.75B | CN¥1.45B |
| Gross Profit | CN¥1.65B | CN¥727.69M |
| Operating Income | -CN¥507.29M | -CN¥38.65M |
| Pretax Income | -CN¥173.47M | CN¥10.40M |
| EBITDA | -CN¥488.29M | CN¥4.76M |
| EPS (Diluted) | -0.80 CNY | 0.00 CNY |
Margins
| Measure | Zhihu | Industry median |
|---|---|---|
| Gross Margin | 59.9% | 33.5% |
| Operating Margin | -18.5% | -3.51% |
| Pretax Margin | -6.31% | 0.71% |
| EBITDA Margin | -17.8% | 0.16% |
| FCF Margin | -13.3% | -1.56% |
Returns
| Measure | Zhihu | Industry median |
|---|---|---|
| Return on Capital Employed (ROCE) | -12.9% | -0.76% |
Growth
| Measure | Zhihu | Industry median |
|---|---|---|
| Revenue Growth (YoY) | -23.6% | 2.73% |
| Revenue Growth (3Y CAGR) | -8.64% | 4.46% |
| Revenue Growth (5Y CAGR) | 15.2% | 3.56% |
Balance sheet
| Measure | Zhihu | Industry median |
|---|---|---|
| Cash & Short-Term Investments | CN¥4.21B | CN¥1.52B |
| Total Debt | CN¥35.00M | CN¥147.50M |
| Net Cash (Debt) | CN¥4.18B | CN¥683.87M |
| Net Cash Per Share | 15.47 CNY | 1.65 CNY |
| Equity (Book Value) | CN¥3.80B | CN¥1.61B |
| Book Value Per Share | 14.10 CNY | 11.00 CNY |
| Tangible Book Value | CN¥3.77B | CN¥1.41B |
| Working Capital | CN¥3.46B | CN¥700.54M |
Financial position
| Measure | Zhihu | Industry median |
|---|---|---|
| Current Ratio | 3.73 | 1.76 |
| Quick Ratio | 3.60 | 1.06 |
| Debt / Equity | 0.01 | 0.30 |
Cash flow (trailing twelve months)
| Measure | Zhihu | Industry median |
|---|---|---|
| Operating Cash Flow | -CN¥363.61M | CN¥35.46M |
| Capital Expenditures | -CN¥1.32M | -CN¥35.72M |
| Free Cash Flow | -CN¥364.92M | -CN¥40.59M |
| FCF Per Share | -1.35 CNY | -0.02 CNY |
Efficiency
| Measure | Zhihu | Industry median |
|---|---|---|
| Asset Turnover | 0.50 | 0.56 |
| Inventory Turnover | 38.57 | 38.57 |
| Revenue Per Employee | CN¥10.22M | CN¥1.55M |
| Employee Count | 269 | 829 |
Dividends and yields
| Measure | Zhihu | Industry median |
|---|---|---|
| FCF Yield | -17.6% | -4.60% |
| Buyback Yield | 8.07% | 0.53% |
| Shareholder Yield | 8.07% | 0.53% |
Shares
| Measure | Zhihu | Industry median |
|---|---|---|
| Shares Outstanding | 269,863,000 | 813,600,000 |
| Shares Change (YoY) | -12.3% | 0.54% |
| Float | 183,810,000 | 634,000,500 |
| Shares Held by Insiders | 31.9% | 17.4% |
| Shares Held by Institutions | 4.76% | 2.73% |
Taxes
| Measure | Zhihu | Industry median |
|---|---|---|
| Income Tax | CN¥21.69M | CN¥6.73M |
Scores
| Measure | Zhihu | Industry median |
|---|---|---|
| Altman Z-Score | -0.49 | 0.46 |
| Beneish M-Score | -1.97 | -2.35 |
Calculated by StockData from Zhihu's SEC filings. Hover a measure to see its formula. The grey column is the median of companies in the same industry group (two-digit SIC code); green or red marks a better or worse value than that median.