Zhihu Inc.

NYSE•ZH

CEO: Mr. Yuan Zhou

Sector: Communication Services

Industry: Internet Content & Information

Listing Date: 2021-03-26

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 offers technology, business support, and consulting services; information transmission, software, and information technology services. It also offers information and marketing services; 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.

Contact Information

18 Xueqing Road, Haidian District, Beijing, 100083, China

N/A

ir.zhihu.com

Market Cap

$253.64M

P/E (TTM)

-8.8

84.7

Dividend Yield

52W High

$5.55

52W Low

$2.57

52W Range

21%

Rank36Top 31.8%

4.5

F-Score

Modified Piotroski Analysis

Based on 6-year fundamentals

Average • 4.5 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2020-2025

Financial Dashboard

Q4 2025 Data

Revenue

$89.53M+0.00%

4-Quarter Trend

EPS

-$0.36+0.00%

4-Quarter Trend

FCF

$0.00+0.00%

4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Net Loss Narrows Significantly Net loss attributable to shareholders RMB 169.0M in 2024, narrowing 79.9% from RMB 839.5M loss in 2023.

Gross Margin Expansion Continues Gross profit margin reached 60.6% in 2024, improving from 54.7% in 2023, driven by efficiency gains.

Paid Membership Base Grows Average monthly subscribing members reached 15.0M in 2024, increasing 3.7% from 14.5M reported in 2023.

Operating Cash Flow Improved Net cash used in operating activities reduced to RMB 280.2M in 2024, showing better cash management versus RMB 415.5M used in 2023.

Risk Factors

Revenue Declines Amidst Competition Total revenues decreased 14.3% to RMB 3.60B in 2024, impacted by refinement of marketing services offerings.

User Base Moderation Expected Average MAUs dropped to 83.0M in 2024, consistent with strategy shifting away from aggressive user acquisition spending.

PRC Regulatory Structure Uncertainty VIE structure faces risks regarding enforceability of contractual arrangements due to evolving PRC laws like the Foreign Investment Law.

Shareholder Voting Power Concentration Dual-class structure concentrates significant voting power (43.8%) with Yuan Zhou, limiting influence for Class A shareholders.

Outlook

Focus on AI Application Investment Investing in AI applications like Zhihu Zhida to enhance operating efficiency across existing businesses and unlock emerging potential.

Monetization Runway Remains Strong Believes monetization efforts are in early stages, expecting significant runway for growth across paid membership and vocational training channels.

Strategic Marketing Refinement Will continue brand recognition efforts to achieve organic user acquisition and retention, moving away from high spending strategies.

Navigating Evolving PRC Rules Must comply with complex and evolving PRC laws regarding data security, cross-border transmission, and cybersecurity reviews.

Peer Comparison

Revenue (TTM)

IHRT

$3.86B

+0.3%

AMCX

$2.31B

-4.5%

AENT

$1.06B

-0.7%

Gross Margin (Latest Quarter)

ATEX

100.0%

+0.0pp

UPXI

81.4%

+22.4pp

JFIN

69.9%

+9.5pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
ATEX	$672.32M	8.2	39.8%	1.9%
IHRT	$466.39M	-1.2	27.0%	103.4%
PERI	$394.86M	-48.3	-1.1%	4.6%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

-3.7%

Flat Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:May 25, 2026

EPS:-$0.01

Revenue:$91.90M

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data