Zhihu Ratios and Metrics

Market cap in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 26, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	1,702	2,149	2,323	4,382	6,315	24,257
Market Cap Growth	-47.75%	-7.49%	-46.99%	-30.61%	-73.97%	-
Enterprise Value	-2,887	-2,391	-3,070	-1,523	-796	16,175
Last Close Price	7.20	8.55	9.68	14.46	20.90	-
PS Ratio	0.56	0.70	0.61	0.95	1.55	6.68
PB Ratio	0.39	0.50	0.52	0.85	0.98	2.93
P/TBV Ratio	0.41	0.51	0.55	0.93	1.02	3.00
EV/Sales Ratio	-	-	-	-	-	4.45
Debt / Equity Ratio	0.02	0.02	0.01	0.01	0.02	0.02
Net Debt / Equity Ratio	-1.08	-1.08	-1.15	-1.15	-1.08	-1.05
Net Debt / EBITDA Ratio	11.61	11.61	10.54	5.17	3.91	5.18
Net Debt / FCF Ratio	-	-	17.10	12.78	5.53	15.84
Asset Turnover	0.50	0.50	0.57	0.58	0.44	0.47
Inventory Turnover	-	-	53.37	116.99	240.38	-
Quick Ratio	3.65	3.65	3.51	3.18	3.92	4.31
Current Ratio	3.73	3.73	3.60	3.28	4.01	4.39
Return on Equity (ROE)	-4.84%	-4.84%	-3.80%	-16.15%	-25.39%	-30.99%
Return on Assets (ROA)	-4.36%	-4.36%	-4.80%	-9.27%	-12.18%	-13.83%
Return on Capital Employed (ROCE)	-9.70%	-9.70%	-11.40%	-22.10%	-27.50%	-20.10%
Earnings Yield	-12.62%	-9.99%	-7.87%	-21.21%	-28.31%	-7.44%
FCF Yield	-	-	-12.96%	-10.66%	-19.97%	-2.27%
Buyback Yield / Dilution	12.25%	12.25%	8.55%	1.87%	-26.92%	-267.91%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.