Zhihu Inc.

NYSE•ZH

CEO: Mr. Yuan Zhou

セクター: Communication Services

業種: Internet Content & Information

上場日: 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.

連絡先情報

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

N/A

ir.zhihu.com

時価総額

$246.44M

PER (TTM)

16.8

80.3

配当利回り

52週高値

$5.55

52週安値

$3.05

52週レンジ

順位36Top 31.8%

4.5

F-Score

改良版 Piotroski 分析

6年ファンダメンタル

堅調 • 4.5 / 9 ポイント

スコアレンジ (0-9)

8-9: 価値が優れている

6-7: 基礎体質が強い

4-5: 全体的に堅調

0-3: パフォーマンスが弱い

データ期間: 2020-2025

財務ダッシュボード

Q3 2025 データ

売上高

$92.08M-20.27%

直近4四半期の推移

EPS

-$0.08+418.18%

直近4四半期の推移

フリーCF

$0.00+0.00%

直近4四半期の推移

2024 Annual 決算ハイライト

主なハイライト

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.

リスク要因

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.

見通し

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.

同業比較

売上高 (TTM)

IHRT

$3.86B

+0.3%

AMCX

$2.31B

-4.5%

AENT

$1.06B

-0.7%

粗利益率 (最新四半期)

ATEX

100.0%

+0.0pp

UPXI

81.4%

+22.4pp

JFIN

80.5%

+9.5pp

主要指標

銘柄コード	時価総額	PER (TTM)	ROE (TTM)	負債比率
ATEX	$693.49M	8.5	39.8%	1.9%
PERI	$354.14M	-43.2	-1.1%	4.6%
IHRT	$345.90M	-0.9	27.0%	112919.5%

長期トレンド

直近4四半期

売上高

純利益

営業キャッシュフロー

4四半期売上高CAGR

-8.8%

成長鈍化

4四半期純利益CAGR

N/M

収益構造の変化

キャッシュフロー安定性

キャッシュフローに注意が必要

深度リサーチ

次回決算:2026年3月24日

EPS:-

売上高:-

財務データ

決算説明会

財務レポート

ニュース

損益計算書

バランスシート

キャッシュフロー計算書

財務比率

変化率

損益計算書	直近12ヶ月

データなし