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ZH stock logo

ZH

Zhihu Inc.

$3.03
0.22
 (7.83%)
Exchange:  NYSE
Market Cap:  239.418M
Shares Outstanding:  297.479M
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Communication Services
Industry:  Internet Content & Information
   
CEO:  Yuan Zhou
Full Time Employees:  1887
Address: 
A5 Xueyuan Road
Beijing
100083
CN
Website:  https://ir.zhihu.com
Zhihu Inc. operates an online content community in the People’s Republic of China. Its community allows people to seek inspiration, find solutions, make decisions, and have fun. The company also offers technology, business support, and consulting services; information transmission, software, and information technology services; information and marketing services; vocational training; and internet services, as well as holds audio-visual permit. The company was founded in 2010 and is headquartered in Beijing, the People’s Republic of China.

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Revenue Segmentation

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EPS

Historical EPS and analyst estimates in one chart. Log in for the full interactive view and links to detailed estimates.

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View full analyst estimates

Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/03/25 — 4 quarter 2025

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue4,198,321.7373,649,903.2442,674,107.840
Gross Profit2,295,537.8352,211,732.4091,602,852.456
EBITDA-802,695.559-158,626.418-370,565.243
Operating Income-1,072,080.141-487,900.175-370,565.243
Net Income-843,527.021-174,236.515-187,645.442

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets6,795,2725,732,9525,194,179.506
Total Liabilities2,093,6621,537,2661,316,667.903
Total Stockholders Equity4,599,8104,136,1233,806,558.438
Total Debt45,73119,13172,019.822
Cash and Cash Equivalents2,106,6393,999,1603,372,378.135

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow-415,527-280,185-415,527
Capital Expenditure-8,875-2,731-8,875
Free Cash Flow-424,402-282,916-424,402
Net Income-839,528-168,967-839,528
Net Change in Cash-2,419,2131,893,421-2,419,213

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2028Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Low)2,926,434.335Full AccessFull AccessFull AccessFull Access
Estimated Revenue (High)3,203,187.867Full AccessFull AccessFull AccessFull Access
Estimated Revenue (Avg)3,056,830.808Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Low)-787,966.737Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (High)-719,886.878Full AccessFull AccessFull AccessFull Access
Estimated Ebitda (Avg)-751,963.699Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Low)67,964.358Full AccessFull AccessFull AccessFull Access
Estimated Net Income (High)76,433.098Full AccessFull AccessFull AccessFull Access
Estimated Net Income (Avg)72,198.728Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Low)1,867,575.967Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (High)2,044,193.033Full AccessFull AccessFull AccessFull Access
Estimated SGA Expense (Avg)1,950,791.680Full AccessFull AccessFull AccessFull Access
Estimated EPS (Avg)0.900Full AccessFull AccessFull AccessFull Access
Estimated EPS (High)0.960Full AccessFull AccessFull AccessFull Access
Estimated EPS (Low)0.850Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated Revenue)2Full AccessFull AccessFull AccessFull Access
Number of Analysts (Estimated EPS)1Full AccessFull AccessFull AccessFull Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
500.069M  ?P/S
 (TTM)
: 
0.71
?Net Income
 (TTM)
: 
-23871940.39  ?P/E
 (TTM)
: 
-10.2
?Enterprise Value
 (TTM)
: 
-1350853707  ?EV/FCF
 (TTM)
: 
0
?Dividend Yield
 (TTM)
: 
0  ?Payout Ratio
 (TTM)
: 
0
?ROE
 (TTM)
: 
-0.05  ?ROIC
 (TTM)
: 
-0.1
?Net Debt
 (TTM)
: 
-663058944.4  ?Debt/Equity
 (TTM)
: 
0.02
?P/B
 (TTM)
: 
0.51  ?Current Ratio
 (TTM)
: 
3.73

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Full Access for high/low estimates and the interactive table.

Forward P/E 1YFull AccessFull AccessFull AccessFull Access
N/AFull AccessFull AccessFull AccessFull Access

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SWOT Analysis

Strengths (preview)
  • Consistent Profitability: Zhihu Inc. reported its third consecutive quarter of non-GAAP profit in Q2 2025, as highlighted in the earnings call transcript, demonstrating improved financial stability and operational efficiency.
  • Strong User Engagement: The earnings call summary emphasizes ongoing efforts to enhance platform features and user engagement, supported by a focus on content quality and creator interaction, which likely contributes to sustained user retention.
  • Positive Revenue Trends: Based on income statement data, revenue growth is evident, aligning with the company’s strategic focus on commercial growth as mentioned in the Q2 2025 earnings call.

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At what price to buy it? -
Intrinsic Value Calculator

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate ZH Intrinsic Value

Common questions about ZH valuation

Is Zhihu Inc. (ZH) overvalued or undervalued right now?

MARKETSnap estimates intrinsic value for Zhihu Inc. (ZH) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is ZH a buy, hold, or sell for long-term investors?

MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether ZH trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is ZH’s P/E ratio?

You can see ZH’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for ZH?

MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is ZH a good long-term investment?

Whether ZH fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

ZH

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

7.83
MARKETSnap

Trading Metrics:

Open: 2.83   Previous Close: 2.81
Day Low: 2.75   Day High: 3.05
Year Low: 2.57   Year High: 5.55
Price Avg 50: 3.28   Price Avg 200: 4.02
Volume: 391470   Average Volume: 442170

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ZH full analysis

08/09/2025

Welcome to MARKETSNAP’s SWOT analysis for Zhihu Inc., also known by its ticker ZH! If you’re not familiar with this name, Zhihu is a leading online content community in China, often compared to platforms like Quora, where users ask questions, share knowledge, and engage in discussions. Operating in the internet content and information industry within the broader technology sector, Zhihu has carved out a unique space by focusing on high-quality, user-generated content. Today, we’re diving deep into what makes this…

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See in Nexus

Relevant news

Zhihu: Has Growth Potential Even Though The AI Fallout Continues
30-03-2026 04:33
Zhihu: Has Growth Potential Even Though The AI Fallout Continues
Zhihu Inc. (ZH) Q4 2025 Earnings Call Transcript
25-03-2026 16:25
Zhihu Inc. (ZH) Q4 2025 Earnings Call Transcript
Zhihu Inc. Reports Unaudited Fourth Quarter and Fiscal Year 2025 Financial Results
25-03-2026 05:30
Zhihu Inc. Reports Unaudited Fourth Quarter and Fiscal Year 2025 Financial Results
Zhihu (ZH) Expected to Announce Earnings on Wednesday
25-03-2026 02:48
Zhihu (ZH) Expected to Announce Earnings on Wednesday
Zhihu Inc. to Report Fourth Quarter and Full Year 2025 Financial Results on March 25, 2026
02-03-2026 03:55
Zhihu Inc. to Report Fourth Quarter and Full Year 2025 Financial Results on March 25, 2026

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