Zhihu Inc. (ZH)

Zhihu Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	2,918	3,369	3,999	2,107	4,526	2,157
Short-Term Investments	1,387	870.94	858.9	3,356	1,736	5,055
Cash & Short-Term Investments	4,305	4,240	4,858	5,463	6,262	7,212
Cash Growth	-6.62%	-12.72%	-11.07%	-12.75%	-13.18%	132.90%
Accounts Receivable	424.27	383.57	462.22	682.93	859.05	849.82
Other Receivables	-	13.89	28.96	43.83	23.54	109.57
Receivables	424.27	397.46	491.18	726.77	882.59	959.39
Inventory	-	26.15	30.96	22.19	10.35	4.6
Prepaid Expenses	-	32.15	69.78	92.18	96.29	105.83
Restricted Cash	9.16	1.08	0.9	-	-	-
Other Current Assets	111.29	35.07	33.75	73.82	69.07	52.07
Total Current Assets	4,849	4,732	5,485	6,378	7,320	8,334
Property, Plant & Equipment	30.83	47.41	15.64	51.06	107.41	136.38
Long-Term Investments	137.76	368.48	51.18	44.62	-	178.52
Goodwill	-	-	126.34	191.08	126.34	73.66
Other Intangible Assets	26.23	29.59	54.53	122.65	80.24	68.31
Other Long-Term Assets	9.36	13.39	0.62	7.99	22.45	14.13
Total Assets	5,054	5,191	5,733	6,795	7,656	8,805

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	711.08	697.44	842.51	1,065	940.97	1,110
Accrued Expenses	115.25	224.09	327.13	406.33	334.39	372.34
Short-Term Debt	104.06	35	-	-	-	-
Current Portion of Leases	17.9	21.38	17.31	42.09	53.19	40.53
Current Income Taxes Payable	29.04	16.29	22.08	21.39	25.98	66.18
Current Unearned Revenue	208.35	186.03	235.54	303.57	355.63	239.76
Other Current Liabilities	112.9	88.19	80.09	107.53	114.69	68.78
Total Current Liabilities	1,299	1,268	1,525	1,945	1,825	1,898
Long-Term Leases	5.21	15.59	1.82	3.64	43.37	82.13
Long-Term Deferred Tax Liabilities	6.12	27.17	6.83	22.57	11.63	14.03
Other Long-Term Liabilities	6.34	4.65	3.96	121.96	82.13	73.14
Total Liabilities	1,316	1,316	1,537	2,094	1,962	2,067

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	3,663	0.21	0.2	0.24	0.25	0.24
Additional Paid-In Capital	-	13,183	13,113	13,487	13,615	13,350
Retained Earnings	-	-9,070	-8,877	-8,706	-7,862	-6,281
Treasury Stock	-	-275.06	-112.06	-161.64	-33.81	-
Comprehensive Income & Other	-	-33.74	12.38	-20.55	-65.81	-339.12
Total Common Equity	3,663	3,804	4,136	4,600	5,654	6,731
Minority Interest	73.86	70.91	59.56	101.8	40.57	7.5
Shareholders' Equity	3,737	3,875	4,196	4,702	5,694	6,738
Total Liabilities & Equity	5,054	5,191	5,733	6,795	7,656	8,805

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	127.17	71.97	19.13	45.73	96.56	122.66
Net Cash (Debt)	4,177	4,168	4,839	5,417	6,165	7,090
Net Cash Growth	-4.63%	-13.86%	-10.67%	-12.13%	-13.04%	129.15%
Net Cash Per Share	53.55	52.09	53.07	54.33	60.67	88.56
Filing Date Shares Outstanding	76.48	81.18	84	98.15	106.35	99.69
Total Common Shares Outstanding	76.48	81.18	84	98.15	106.35	99.69
Working Capital	3,551	3,464	3,960	4,432	5,495	6,436
Book Value Per Share	47.90	46.86	49.24	46.86	53.16	67.52
Tangible Book Value	3,637	3,775	3,955	4,286	5,447	6,589
Tangible Book Value Per Share	47.56	46.50	47.09	43.67	51.22	66.09
Machinery	-	23.31	24.07	25.77	23.95	22.65
Leasehold Improvements	-	22.12	21.47	19.38	14.02	13.7

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Aug 26, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 11, 2026

Data Sources Report a data error