Zhihu Inc. (ZH)
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- Incorporated E9
- Fiscal year ends Dec 31
In fiscal 2025, Zhihu Inc. reported revenue of 2.75B CNY, down 23.6% from the prior year. The company ran a net loss, with a net margin of -7.1% and a gross margin of 59.9%. It held 5.19B CNY in total assets against 1.32B CNY in total liabilities.
Key ratios (FY2025)
59.9%
Gross margin
-18.5%
Operating margin
-7.1%
Net margin
-5.0%
Return on equity
-23.6%
Revenue growth (YoY)
| Metric (FY) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.75B CNY | 3.60B CNY | 4.20B CNY | 3.60B CNY | 2.96B CNY | 1.35B CNY | 670.51M CNY | — |
| Cost of Revenue | 1.10B CNY | 1.42B CNY | 1.90B CNY | 1.80B CNY | 1.41B CNY | 594.40M CNY | 358.24M CNY | — |
| Gross Profit | 1.65B CNY | 2.18B CNY | 2.30B CNY | 1.81B CNY | 1.55B CNY | 757.80M CNY | 312.27M CNY | — |
| Operating Income | -507.29M CNY | -481.08M CNY | -1.07B CNY | -1.60B CNY | -1.39B CNY | -602.88M CNY | -1.06B CNY | — |
| Net Income | -195.16M CNY | -168.97M CNY | -839.53M CNY | -1.58B CNY | -1.30B CNY | -517.55M CNY | -1.00B CNY | — |
| EPS (Diluted) | -0.80 CNY | -0.63 CNY | -2.82 CNY | -5.19 CNY | -6.12 CNY | -18.36 CNY | -22.99 CNY | — |
| Total Assets | 5.19B CNY | 5.73B CNY | 6.80B CNY | 7.66B CNY | 8.81B CNY | 3.76B CNY | — | — |
| Total Liabilities | 1.32B CNY | 1.54B CNY | 2.09B CNY | 1.96B CNY | 2.07B CNY | 1.01B CNY | — | — |
| Shareholders' Equity | 3.88B CNY | 4.20B CNY | 4.70B CNY | 5.69B CNY | 6.74B CNY | -5.14B CNY | -3.99B CNY | -2.72B CNY |
| Cash & Equivalents | 3.37B CNY | 4.00B CNY | 2.11B CNY | 4.53B CNY | 2.16B CNY | 957.82M CNY | — | — |
| Operating Cash Flow | -363.61M CNY | -280.19M CNY | -415.53M CNY | -1.11B CNY | -440.23M CNY | -244.42M CNY | -715.52M CNY | — |
| Capital Expenditures | 1.32M CNY | 2.73M CNY | 8.49M CNY | 714.0K CNY | 7.44M CNY | 1.95M CNY | 4.53M CNY | — |
| Shares Outstanding | 240.04M | 273.56M | 299.13M | 304.84M | 240.17M | 65.28M | 62.25M | — |