GBAF Logo
Global Banking & Finance Awards® 2026 Nominations open, free to enter Nominate now →
Z

Zhihu Inc ADR ZH · USD

Communication Services · US listing · 🇺🇸 United States

Compare

2.68

-2.55%

Close of 9 Nov 2026, in USD

Search any instrument

Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in USD, from our data supplier.

FY2025

Revenue

$2.67bn

FY2019FY2025

Net income

−$187.6m

FY2019FY2025

Free cash flow

−$424.4m

FY2019FY2025

Shareholders' equity

$3.81bn

FY2019FY2025

Income statement

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Revenue$2.67bn$3.65bn$4.20bn$3.67bn$2.92bn$1.28bn$668.7m
Gross profit$1.60bn$2.21bn$2.30bn$1.84bn$1.53bn$716.4m$311.4m
Research and development$510.7m$742.9m$901.3m$776.8m$611.6m$311.8m$350.1m
Operating income−$370.6m−$487.9m−$1.07bn−$1.63bn−$1.37bn−$570.0m−$1.06bn
Net income−$187.6m−$174.2m−$843.5m−$1.61bn−$1.28bn−$489.3m−$1.00bn
Diluted earnings per share-2.39-0.67-8.77-16.02-13.10-5.31-10.11

Balance sheet

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Total assets$5.19bn$5.73bn$6.80bn$7.66bn$8.81bn$3.76bn$3.98bn
Cash and short-term investments$4.24bn$4.86bn$5.46bn$6.26bn$7.21bn$3.10bn$3.54bn
Total liabilities$1.32bn$1.54bn$2.09bn$1.96bn$2.07bn$1.01bn$7.98bn
Debt$56.4m$17.3m$42.1m$53.2m$40.5m$2.9m$22.7m
Shareholders' equity$3.81bn$4.14bn$4.60bn$5.65bn$6.74bn$2.75bn−$3.99bn
Shares outstanding79m262m96m100m98m92m99m

Cash flow

Fiscal years

FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash from operations−$415.5m−$280.2m−$415.5m−$1.11bn−$440.2m−$244.4m−$715.5m
Capital spending−$8.9m−$2.7m−$8.9m−$714,000−$7.4m−$2.0m−$5.8m
Free cash flow−$424.4m−$282.9m−$424.4m−$1.12bn−$447.7m−$246.4m−$721.3m

Latest quarters

By quarter end

Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024Jun 2024
Revenue$647.6m$634.6m$658.9m$710.0m$728.3m$859.2m$826.5m$937.0m
Gross profit$386.0m$340.1m$403.6m$443.9m$450.2m$540.7m$528.3m$558.4m
Operating income−$62.5m−$135.6m−$99.8m−$90.1m−$52.5m$11.9m−$82.5m−$184.5m
Net income−$8.5m−$205.8m−$46.7m$71.8m−$10.1m$86.3m−$10.3m−$83.0m
Diluted earnings per share-0.11-2.62-0.590.91-0.130.33-0.04-0.32
Cash from operations−$415.0m———————
Capital spending−$8.0m———————
Free cash flow−$423.0m———————
Total assets$5.10bn$5.19bn$5.50bn$5.75bn$5.68bn$5.73bn$6.01bn$6.11bn
Cash and short-term investments$4.26bn$4.24bn$4.37bn$4.61bn$4.56bn—$5.00bn$5.01bn
Debt$36.2m$56.4m$130.4m$202.2m$93.4m—$67.8m$76.6m
Shareholders' equity$3.74bn$3.81bn$4.05bn$4.14bn$4.10bn$4.14bn$4.29bn$4.31bn

Growth per year

Compound annual rate

3 years5 years10 years
Revenue-10.0%15.9%—
Operating income-39.0%-8.3%—
Net income-51.1%-17.4%—

Average margins

Over each period

1 year3 years5 years10 years
Gross margin60.3%56.0%55.5%—
Operating margin-13.6%-25.1%-29.9%—
Net margin-5.7%-19.8%-24.9%—

Valuation history

At each fiscal year end

FY2025FY2024FY2023FY2022FY2021
Price to earnings-1.4-5.3-0.6-0.5-2.5
Price to sales0.10.30.10.21.1

Share price return

Finished calendar years

20252024202320222021
Return-6%-37%-31%-73%-39%

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.