Zhihu Inc. logo

Zhihu Inc.

ZH

NYSECommunication ServicesInternet Content & Information

Previous close

$3.22

+$0.01 · +0.31%

Aug 21, 4:00 PM ET

ZH company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

44

Fair Value

Momentum

40

Weakening

Sentiment

54

Mixed

Risk resilience

52

Elevated Risk

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Company profile

Company website

Zhihu Inc. operates an online content community in the People’s Republic of China. The company also offers technology, business support, and consulting services; information transmission, software, and information technology services; and information and marketing services. It also offers vocational training; and internet services, as well as holds audio-visual permit. Zhihu Inc. was founded in 2010 and is headquartered in Beijing, the People's Republic of China.

Industry
Internet Content & Information
Sector
Communication Services
Headquarters
CN
CEO
Yuan Zhou
Listed since
Mar 26, 2021
Employees
1,154

Market position

Day range

Current $3.22

52-week range

Current $3.22

Open
$3.20
Previous close
$3.21
Volume
141.58K
0.68× average
Average volume
206.86K
Average daily volume
Market cap
260.39M USD
Beta
0.28
Market reference 1
50-day average
$3.194
+0.81% above average
200-day average
$3.3592
-4.14% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
-1.47B CNY
P/E (TTM)
-2.74×
P/B (TTM)
0.44×
P/S (TTM)
0.65×
EV / EBITDA
10.18×
Earnings yield
-10.22%
Free cash flow yield
-23.13%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
59.34%
Operating margin
-19.40%
Net margin
-7.18%
Return on equity
-4.93%
Return on assets
-3.61%
Return on invested capital
-9.31%

Financial health

Debt / equity
0.01×
Current ratio
3.73×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends71%28%-15%-58%Gross margin, FY2021: 52.51%Gross margin, FY2022: 50.16%Gross margin, FY2023: 54.68%Gross margin, FY2024: 60.60%Gross margin, FY2025: 59.94%Operating margin, FY2021: -46.99%Operating margin, FY2022: -44.49%Operating margin, FY2023: -25.54%Operating margin, FY2024: -13.37%Operating margin, FY2025: -13.86%Net margin, FY2021: -43.89%Net margin, FY2022: -43.86%Net margin, FY2023: -20.09%Net margin, FY2024: -4.77%Net margin, FY2025: -7.02%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 52.51%. Gross margin FY2022 50.16%. Gross margin FY2023 54.68%. Gross margin FY2024 60.60%. Gross margin FY2025 59.94%. Operating margin FY2021 -46.99%. Operating margin FY2022 -44.49%. Operating margin FY2023 -25.54%. Operating margin FY2024 -13.37%. Operating margin FY2025 -13.86%. Net margin FY2021 -43.89%. Net margin FY2022 -43.86%. Net margin FY2023 -20.09%. Net margin FY2024 -4.77%. Net margin FY2025 -7.02%.

Income trends

Revenue

2.67B CNY-26.73%

Operating income

−370.57M CNY+24.05%

Net income

−187.65M CNY-7.70%
Income trends across reported periods4.78B CNY2.45B CNY117.15M CNY−2.21B CNYRevenue, FY2021: 2.92B CNYRevenue, FY2022: 3.67B CNYRevenue, FY2023: 4.2B CNYRevenue, FY2024: 3.65B CNYRevenue, FY2025: 2.67B CNYOperating income, FY2021: −1.37B CNYOperating income, FY2022: −1.63B CNYOperating income, FY2023: −1.07B CNYOperating income, FY2024: −487.9M CNYOperating income, FY2025: −370.57M CNYNet income, FY2021: −1.28B CNYNet income, FY2022: −1.61B CNYNet income, FY2023: −843.53M CNYNet income, FY2024: −174.24M CNYNet income, FY2025: −187.65M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 2.92B CNY. Revenue FY2022 3.67B CNY. Revenue FY2023 4.2B CNY. Revenue FY2024 3.65B CNY. Revenue FY2025 2.67B CNY. Operating income FY2021 −1.37B CNY. Operating income FY2022 −1.63B CNY. Operating income FY2023 −1.07B CNY. Operating income FY2024 −487.9M CNY. Operating income FY2025 −370.57M CNY. Net income FY2021 −1.28B CNY. Net income FY2022 −1.61B CNY. Net income FY2023 −843.53M CNY. Net income FY2024 −174.24M CNY. Net income FY2025 −187.65M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue2.67B CNY3.65B CNY4.2B CNY3.67B CNY2.92B CNY
Cost of goods sold1.07B CNY1.44B CNY1.9B CNY1.83B CNY1.39B CNY
Gross profit1.6B CNY2.21B CNY2.3B CNY1.84B CNY1.53B CNY
Research and development510.69M CNY742.93M CNY901.33M CNY776.77M CNY611.56M CNY
Selling, general, and administrative1.46B CNY1.96B CNY2.47B CNY2.69B CNY2.29B CNY
Operating expenses1.97B CNY2.7B CNY3.37B CNY3.47B CNY2.91B CNY
Interest income295.14M CNY114.96M CNY158.67M CNY68.1M CNY31.31M CNY
Depreciation and amortization24.89M CNY22.26M CNY24.89M CNY25.65M CNY21.17M CNY
Operating income−370.57M CNY−487.9M CNY−1.07B CNY−1.63B CNY−1.37B CNY
Net income−187.65M CNY−174.24M CNY−843.53M CNY−1.61B CNY−1.28B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
44%
4 beats, 5 misses, 0 met estimates
Average EPS surprise
+23.68%
9 comparable reports
Latest EPS result
-0.02

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.671.050.42-0.2Q4 '24MissQ1 '25No estimateQ2 '25BeatQ3 '25BeatQ4 '25MissQ1 '26MissQ2 '26No estimateQ3 '26Estimate
Q4 2024, reported Nov 26, 2024: actual -0.03, estimate 1.54, surprise -101.95%, Miss. Q1 2025, reported Mar 26, 2025: actual 0.16, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 27, 2025: actual 0.01, estimate -0.032, surprise +131.57%, Beat. Q3 2025, reported Aug 27, 2025: actual 0.15, estimate -0.018, surprise +926.90%, Beat. Q4 2025, reported Nov 25, 2025: actual -0.03, estimate -0.017, surprise -78.04%, Miss. Q1 2026, reported Mar 25, 2026: actual -0.07, estimate -0.011, surprise -511.89%, Miss. Q2 2026, reported Jun 3, 2026: actual -0.016, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 26, 2026: actual —, estimate -0.012, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates125.48M112.28M99.09M85.89MQ4 '24MissQ1 '25BeatQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26Estimate
Q4 2024, reported Nov 26, 2024: actual 120.38M USD, estimate 120.65M USD, surprise -0.22%, Miss. Q1 2025, reported Mar 26, 2025: actual 117.68M USD, estimate 112.38M USD, surprise +4.72%, Beat. Q2 2025, reported May 27, 2025: actual 100.52M USD, estimate 96.7M USD, surprise +3.95%, Beat. Q3 2025, reported Aug 27, 2025: actual 100.04M USD, estimate 101.45M USD, surprise -1.39%, Miss. Q4 2025, reported Nov 25, 2025: actual 92.53M USD, estimate 90.72M USD, surprise +2.00%, Beat. Q1 2026, reported Mar 25, 2026: actual 92M USD, estimate 91.9M USD, surprise +0.11%, Beat. Q2 2026, reported Jun 3, 2026: actual 94.43M USD, estimate 91.44M USD, surprise +3.27%, Beat. Q3 2026, reported Aug 26, 2026: actual —, estimate 104.6M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Recent analyst actions

2 institutions
JefferiesmaintainBuy

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