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Zhihu Inc. (ZH)
NYSE: ZH · Real-Time Price · USD
3.520
-0.050 (-1.40%)
Oct 1, 2026, 4:00 PM EDT - Market closed

Zhihu Financials Overview

Millions CNY. Fiscal year is Jan - Dec.

Revenue & Profits
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Revenue
2,6442,7493,5994,1993,6052,959
Revenue Growth
-16.08%-23.62%-14.29%16.48%21.82%118.85%
Gross Profit
1,5301,6482,1812,2961,8081,554
Operating Income
-376.14-380.94-481.08-1,072-1,604-1,391
Net Income
-301.22-192.9-171.8-843.64-1,581-1,469
Earnings Per Share
-3.86-2.41-1.89-8.46-15.57-18.36
EPS Growth
------

Cash & Debt
Chart
Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash & Investments
4,3054,2404,8585,4636,2627,212
Total Debt
127.1771.9719.1345.7396.56122.66
Net Cash (Debt)
4,1774,1684,8395,4176,1657,090
Net Cash Growth
-4.63%-13.86%-10.67%-12.13%-13.04%129.15%
Net Cash Per Share
53.5552.0953.0754.3360.6788.56

Cash Flow & CapEx
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Operating Cash Flow
-317.71-363.61-280.19-415.53-1,115-440.23
Capital Expenditures
-0.84-1.32-2.73-8.49-0.71-7.44
Free Cash Flow
-318.55-364.92-282.92-424.02-1,116-447.67
Free Cash Flow Growth
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Margins
Chart
Fiscal YearTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingJun '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Gross Margin
57.87%59.94%60.60%54.68%50.16%52.51%
Operating Margin
-14.22%-13.86%-13.37%-25.54%-44.49%-46.99%
Pretax Margin
-11.80%-6.31%-4.96%-19.71%-43.39%-49.47%
Profit Margin
-11.39%-7.02%-4.77%-20.09%-43.86%-49.66%
FCF Margin
-12.05%-13.28%-7.86%-10.10%-30.95%-15.13%

Valuation
Chart
Fiscal YearCurrentFY 2025FY 2024FY 2023FY 2022FY 2021
Period EndingOct '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Forward PE
-99.01280.48---
PS Ratio
0.690.700.610.951.556.68