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Zhihu Inc.

$3.50 ▼ -0.02 (-0.57%) at close

8 Visible periods

29 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Weak

Moderately Bearish

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Analytical Summary

Zhihu Inc. faces fundamental challenges with weakness in Profit Margin (%) and Operating Margin (%). Investors should exercise caution and monitor for improvement in key metrics.

Market Cap $840.2M

Dividend Yield —

Revenue Growth -20.3% ↘

Op. Margin -18.5% ↘

ROIC -15.0% ↘

FCF / Share $-0.22 ↘

Trailing P/E —

Price / Book 1.5x

FCF Yield —

Debt / Equity 0.01

info Valuation on last close. End-of-day price, Sep 23, 2026.

8-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$393.10M

↓ -20.3% —

Net Income Profit after all expenses

$-27.91M

↓ -20.5% —

Operating Margin Operating profit as % of sales

-18.5%

↓ -38.0% 11th

FCF / Share Free cash flow per share

$-0.22

↓ -53.4% —

trending_up

Bullish Indicators

Debt to EquityDebt to Equity is in the top quartile (lower is better)

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns ↑

Financial Health

Cash Quality ↑

Financial view

Statement lens

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Cadence

Annual Quarterly

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📈 Is growth accelerating? 5 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗
Revenue Growth YoY (%)	-20.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-505%)	-16.6% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-433%)	13.2% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+163%)	12.6% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+151%)	—	—	—	—
EPS Growth YoY (%)	-22.2% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	77.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	46.7% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	21.9% Good Good Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—
Net Income Growth YoY (%)	-20.5% Weak ↓ Weak Declining Year-over-year change in net income	80.4% Excellent ↑ Excellent Improving Year-over-year change in net income	48.3% Excellent Excellent Year-over-year change in net income	-12.3% Weak Weak Year-over-year change in net income	—	—	—	—
FCF Growth YoY (%)	-53.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	29.0% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	62.4% Excellent Excellent Year-over-year change in free cash flow	-81.4% Weak Weak Year-over-year change in free cash flow	—	—	—	—
Revenue CAGR 3Y (%)	-9.1% Weak Weak Compound annual revenue growth over 3 years	2.0% Caution Caution Compound annual revenue growth over 3 years	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗
Operating Margin (%) (%)	-18.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-254%)	-13.4% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-211%)	-25.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-313%)	-44.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-471%)	-47.0% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-492%)	—	—	—
Effective Tax Rate (%) (%)	-12.5% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	5.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.9% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.4% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—
Profit Margin (%) (%)	-7.1% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-189%)	-4.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-159%)	-20.0% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-350%)	-43.8% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-647%)	-43.9% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-649%)	—	—	—
FCF Margin (%) (%)	-13.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-7.9% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-10.1% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-30.9% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-15.1% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—
FCF / Net Income (x)	1.87x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.67x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.51x Weak → Weak Stable Free cash flow relative to reported net income Optimal: > 1x	0.71x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.34x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗
Return on Invested Capital (%)	-15.0% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-11.0% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-23.6% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-28.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-20.7% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—	—	—
Return on Capital (%) (%)	-9.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-8.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-15.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-20.9% Weak Weak Operating profit relative to total assets Optimal: > 10%	-15.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—
Return on Common Equity (%) (%)	-5.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-134%)	-4.1% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-127%)	-18.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-222%)	-27.9% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-286%)	-19.3% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-229%)	—	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗
Debt to Equity (x)	0.01x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-99%)	—	—	—	—	—	—	—
Interest Coverage (x)	-352.14x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—	—
Net Debt (USD)	$-476.78M	$-547.88M	$-296.71M	$-656.19M	$-338.51M	—	—	—
Debt / EBITDA (x)	-0.07x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗
Revenue per Share (USD)	$1.64	$1.80	$1.98	$1.71	$1.93	—	—	—
Basic EPS, GAAP (USD)	$-0.11	$-0.09	$-0.40	$-0.75	$-0.96	—	—	—
Free Cash Flow per Share (USD)	$-0.22	$-0.14	$-0.20	$-0.53	$-0.29	—	—	—
Book Value per Share (USD)	$2.27	$2.07	$2.17	$2.69	$4.40	—	—	—
Tangible Book Value per Share (USD)	$2.27	$2.01	$2.08	$2.63	$4.35	—	—	—
Basic Weighted Avg Shares (shares)	240.04M	273.56M	299.13M	304.84M	240.17M	65.28M	62.25M	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗
Working Capital (USD)	$495.29M	$542.51M	$624.29M	$796.69M	$1.01B	—	—	—
Total Equity (USD)	$543.98M	$566.65M	$647.87M	$819.71M	$1.06B	—	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗
Sales/Revenue/Turnover (USD)	$393.10M	$493.05M	$591.40M	$522.66M	$464.38M	—	—	—
Depreciation Expense (USD)	$2.72M	$3.01M	$3.51M	$3.65M	$3.37M	—	—	—
Net Income, GAAP (USD)	$-27.91M	$-23.15M	$-118.25M	$-228.85M	$-203.82M	—	—	—
Operating Cash Flow (USD)	$-51.99M	$-38.38M	$-58.52M	$-161.65M	$-69.08M	—	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced yesterday 8 years · 6 quarters

Zhihu Inc.

Analytical Summary

8-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

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