Zhihu (ZH) Financials

$4.06 -0.09 (-2.05%)

As of 11:40 AM Eastern

Annual Income Statements for Zhihu

This table shows Zhihu's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-205	-184	-231	-229	-119	-24
Consolidated Net Income / (Loss)	-144	-80	-204	-229	-118	-23
Net Income / (Loss) Continuing Operations	-144	-80	-204	-229	-118	-23
Total Pre-Tax Income	-144	-79	-203	-227	-117	-24
Total Operating Income	-152	-93	-218	-233	-151	-66
Total Gross Profit	45	117	244	262	323	299
Total Revenue	96	208	464	523	591	493
Operating Revenue	96	208	464	523	591	493
Total Cost of Revenue	51	91	221	261	268	194
Operating Cost of Revenue	51	91	221	261	268	194
Total Operating Expenses	197	209	462	495	474	365
Selling, General & Admin Expense	36	46	108	90	59	45
Marketing Expense	110	113	257	294	288	219
Research & Development Expense	50	51	97	111	127	100
Total Other Income / (Expense), net	7.80	13	15	5.73	34	41
Interest & Investment Income	7.71	12	14	20	28	25
Other Income / (Expense), net	0.08	0.86	1.07	-14	6.22	17
Income Tax Expense	0.01	0.17	0.85	2.06	1.67	-1.29
Net Income / (Loss) Attributable to Noncontrolling Interest	-	0.00	0.00	0.40	0.58	0.39
Basic Earnings per Share	($22.99)	($18.36)	($6.12)	($5.19)	($2.82)	($0.09)
Weighted Average Basic Shares Outstanding	62.25M	65.28M	240.17M	304.84M	299.13M	273.56M
Diluted Earnings per Share	($22.99)	($18.36)	($6.12)	($5.19)	($2.82)	($0.09)
Weighted Average Diluted Shares Outstanding	62.25M	65.28M	240.17M	304.84M	299.13M	273.56M
Weighted Average Basic & Diluted Shares Outstanding	-	-	310.74M	321.20M	307.72M	261.95M

No quarterly income statements for Zhihu are available.

This table details how cash moves in and out of Zhihu's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	27	8.84	188	343	-341	259
Net Cash From Operating Activities	-103	-38	-69	-162	-59	-38
Net Cash From Continuing Operating Activities	-103	-38	-69	-162	-59	-38
Net Income / (Loss) Continuing Operations	-144	-80	-204	-229	-118	-23
Consolidated Net Income / (Loss)	-144	-80	-204	-229	-118	-23
Depreciation Expense	2.91	3.02	3.37	3.66	3.51	3.01
Non-Cash Adjustments To Reconcile Net Income	38	21	95	48	32	-12
Changes in Operating Assets and Liabilities, net	0.57	18	36	15	25	-6.69
Net Cash From Investing Activities	-302	66	-492	506	-237	351
Net Cash From Continuing Investing Activities	-302	66	-492	506	-237	351
Purchase of Property, Plant & Equipment	-0.65	-0.30	-1.17	-0.10	-1.20	-0.37
Acquisitions	-0.18	0.00	-5.21	-8.79	-9.01	0.00
Purchase of Investments	-510	-946	-1,010	-1,529	-1,065	-1,252
Divestitures	-	-	-	-	-	1.67
Sale and/or Maturity of Investments	327	1,014	827	1,725	927	1,426
Other Investing Activities, net	-119	-1.46	-303	319	-89	175
Net Cash From Financing Activities	430	1.43	765	-16	-51	-55
Net Cash From Continuing Financing Activities	430	1.43	765	-16	-51	-55
Repayment of Debt	-	-	-	-	-	-7.09
Repurchase of Common Equity	-	0.00	0.00	-19	-52	-55
Issuance of Debt	-	-	-	-	-	7.09
Issuance of Common Equity	0.00	0.00	762	0.00	0.00	0.03
Other Financing Activities, net	1.64	1.43	3.60	2.84	0.64	-0.46
Cash Income Taxes Paid	-	-	0.55	2.45	1.57	0.24

No quarterly cash flow statements for Zhihu are available.

This table presents Zhihu's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	579	1,382	1,110	957	785
Total Current Assets	572	1,308	1,061	898	751
Cash & Equivalents	147	339	656	297	548
Restricted Cash	-	-	-	-	0.12
Short-Term Investments	161	351	114	249	74
Accounts Receivable	77	133	125	96	63
Prepaid Expenses	19	43	29	33	22
Other Current Assets	168	442	138	223	44
Plant, Property, & Equipment, net	1.25	1.55	1.06	1.53	1.16
Total Noncurrent Assets	5.10	72	48	57	33
Long-Term Investments	0.00	3.00	0.00	6.28	7.01
Goodwill	0.00	12	18	27	17
Intangible Assets	3.61	11	12	17	7.47
Other Noncurrent Operating Assets	1.49	47	18	6.79	1.07
Total Liabilities & Shareholders' Equity	579	1,382	1,110	957	785
Total Liabilities	156	324	284	295	211
Total Current Liabilities	156	298	265	274	209
Accounts Payable	84	174	133	146	114
Current Deferred & Payable Income Tax Liabilities	1.09	10	3.77	3.01	3.03
Current Employee Benefit Liabilities	36	49	41	48	38
Other Current Liabilities	35	64	87	77	54
Total Noncurrent Liabilities	0.00	27	20	21	1.73
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	2.20	1.69	3.18	0.94
Other Noncurrent Operating Liabilities	0.00	24	18	18	0.79
Total Equity & Noncontrolling Interests	-791	1,057	826	662	575
Total Preferred & Common Equity	-791	1,056	820	648	567
Total Common Equity	-791	1,056	820	648	567
Common Stock	0.01	2,095	1,974	1,900	1,797
Retained Earnings	-761	-986	-1,140	-1,227	-1,216
Accumulated Other Comprehensive Income / (Loss)	-30	-53	-9.54	-2.89	1.70
Other Equity Adjustments	-	0.00	-4.90	-22	-15
Noncontrolling Interest	0.00	1.18	5.88	14	8.16

No quarterly balance sheets for Zhihu are available.

This table displays calculated financial ratios and metrics derived from Zhihu's official financial filings.

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	116.03%	123.29%	12.55%	13.15%	-16.63%
EBITDA Growth	0.00%	40.36%	-140.62%	-13.76%	41.91%	67.17%
EBIT Growth	0.00%	39.51%	-136.39%	-13.68%	41.35%	65.88%
NOPAT Growth	0.00%	38.98%	-135.35%	-6.55%	35.05%	56.36%
Net Income Growth	0.00%	44.79%	-156.05%	-12.28%	48.33%	80.42%
EPS Growth	0.00%	20.14%	66.67%	15.20%	45.66%	78.27%
Operating Cash Flow Growth	0.00%	63.41%	-83.76%	-134.00%	63.80%	34.41%
Free Cash Flow Firm Growth	0.00%	0.00%	-124.84%	136.33%	-209.56%	173.46%
Invested Capital Growth	0.00%	0.00%	218.86%	-84.84%	98.93%	-149.15%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	46.57%	56.04%	52.51%	50.16%	54.68%	60.60%
EBITDA Margin	-154.75%	-42.72%	-46.04%	-46.53%	-23.89%	-9.36%
Operating Margin	-157.86%	-44.59%	-46.99%	-44.49%	-25.54%	-13.37%
EBIT Margin	-157.77%	-44.17%	-46.76%	-47.23%	-24.48%	-9.97%
Profit (Net Income) Margin	-149.77%	-38.27%	-43.89%	-43.78%	-19.99%	-4.70%
Tax Burden Percent	100.00%	100.21%	100.42%	100.91%	101.43%	94.73%
Interest Burden Percent	94.92%	86.47%	93.46%	91.87%	80.51%	49.71%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-113.59%	-63.82%	-77.57%	-127.98%	-165.04%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-104.05%	-53.62%	-68.54%	-126.09%	-168.94%
Return on Net Nonoperating Assets (RNNOA)	0.00%	75.91%	36.28%	53.26%	112.09%	161.30%
Return on Equity (ROE)	0.00%	-37.68%	-27.55%	-24.31%	-15.90%	-3.74%
Cash Return on Invested Capital (CROIC)	0.00%	-313.59%	-168.33%	69.76%	-194.18%	0.00%
Operating Return on Assets (OROA)	0.00%	-15.88%	-22.16%	-19.81%	-14.01%	-5.64%
Return on Assets (ROA)	0.00%	-13.76%	-20.80%	-18.37%	-11.44%	-2.66%
Return on Common Equity (ROCE)	0.00%	70.57%	-4.93%	-24.22%	-15.68%	-3.67%
Return on Equity Simple (ROE_SIMPLE)	0.00%	10.06%	-19.30%	-27.92%	-18.25%	-4.09%
Net Operating Profit after Tax (NOPAT)	-106	-65	-153	-163	-106	-46
NOPAT Margin	-110.50%	-31.21%	-32.90%	-31.14%	-17.88%	-9.36%
Net Nonoperating Expense Percent (NNEP)	0.00%	-9.54%	-10.20%	-9.03%	-1.89%	3.89%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-8.03%
Cost of Revenue to Revenue	53.43%	43.96%	47.49%	49.84%	45.32%	39.40%
SG&A Expenses to Revenue	37.77%	21.90%	23.33%	17.25%	9.97%	9.17%
R&D to Revenue	52.35%	24.39%	20.94%	21.18%	21.47%	20.35%
Operating Expenses to Revenue	204.43%	100.63%	99.50%	94.64%	80.21%	73.96%
Earnings before Interest and Taxes (EBIT)	-152	-92	-217	-247	-145	-49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-149	-89	-214	-243	-141	-46
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	1.73	0.49	0.46	0.32
Price to Tangible Book Value (P/TBV)	0.00	0.00	1.77	0.51	0.50	0.34
Price to Revenue (P/Rev)	5.43	2.51	3.94	0.77	0.51	0.37
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	12.50	3.12	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	6.87	2.45	0.00	0.00	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-0.73	-0.68	-0.78	-0.89	-0.95
Leverage Ratio	0.00	1.37	1.32	1.32	1.39	1.41
Compound Leverage Factor	0.00	1.18	1.24	1.22	1.12	0.70
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	287.28%	0.11%	0.71%	2.17%	1.42%
Common Equity to Total Capital	0.00%	-187.28%	99.89%	99.29%	97.83%	98.58%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	0.87	3.08	0.01	-0.28	-0.40
Noncontrolling Interest Sharing Ratio	0.00%	287.28%	82.10%	0.37%	1.36%	1.82%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	3.67	4.39	4.01	3.28	3.60
Quick Ratio	0.00	2.47	2.76	3.38	2.34	3.28
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-179	-403	146	-160	118
Operating Cash Flow to CapEx	-16,452.57%	-12,579.56%	-5,917.13%	-156,156.43%	-4,894.89%	-10,259.44%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.36	0.47	0.42	0.57	0.57
Accounts Receivable Turnover	0.00	2.71	4.42	4.05	5.36	6.18
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	166.83	332.34	401.28	457.56	366.42
Accounts Payable Turnover	0.00	1.09	1.71	1.70	1.92	1.49
Days Sales Outstanding (DSO)	0.00	134.94	82.62	90.05	68.12	59.04
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	336.40	213.88	215.08	190.03	244.96
Cash Conversion Cycle (CCC)	0.00	-201.47	-131.26	-125.02	-121.91	-185.91
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	114	364	55	110	-54
Invested Capital Turnover	0.00	3.64	1.94	2.49	7.16	17.64
Increase / (Decrease) in Invested Capital	0.00	114	250	-309	55	-164
Enterprise Value (EV)	0.00	1,428	1,136	-360	-237	-439
Market Capitalization	523	523	1,828	404	301	182
Book Value per Share	$0.00	($12.12)	$4.40	$2.64	$2.02	$1.84
Tangible Book Value per Share	$0.00	($12.18)	$4.30	$2.54	$1.88	$1.76
Total Capital	0.00	422	1,057	826	662	575
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-308	-693	-770	-552	-629
Capital Expenditures (CapEx)	0.62	0.30	1.17	0.10	1.20	0.37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	108	320	26	78	-79
Debt-free Net Working Capital (DFNWC)	0.00	416	1,010	797	624	543
Net Working Capital (NWC)	0.00	416	1,010	797	624	543
Net Nonoperating Expense (NNE)	38	15	51	66	13	-23
Net Nonoperating Obligations (NNO)	0.00	-308	-693	-770	-552	-629
Total Depreciation and Amortization (D&A)	2.91	3.02	3.37	3.66	3.51	3.01
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	51.90%	68.92%	5.04%	13.24%	-16.09%
Debt-free Net Working Capital to Revenue	0.00%	200.09%	217.50%	152.43%	105.56%	110.03%
Net Working Capital to Revenue	0.00%	200.09%	217.50%	152.43%	105.56%	110.03%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($36.72)	($31.14)	($16.92)	($0.09)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	40.03M	50.81M	49.86M	273.56M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($36.72)	($31.14)	($16.92)	($0.09)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	40.03M	50.81M	49.86M	273.56M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	51.79M	53.53M	51.29M	261.95M
Normalized Net Operating Profit after Tax (NOPAT)	-106	-65	-153	-163	-106	-46
Normalized NOPAT Margin	-110.50%	-31.21%	-32.90%	-31.14%	-17.88%	-9.36%
Pre Tax Income Margin	-149.76%	-38.19%	-43.71%	-43.39%	-19.71%	-4.96%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	-8.11%	-44.02%	-237.15%

No quarterly metrics and ratios for Zhihu are available.

Frequently Asked Questions About Zhihu's Financials

When does Zhihu's financial year end?

According to the most recent income statement we have on file, Zhihu's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Zhihu's net income changed over the last 5 years?

Zhihu's net income appears to be on a downward trend, with a most recent value of -$23.15 million in 2024, falling from -$144.18 million in 2019. The previous period was -$118.25 million in 2023. Find out what analysts predict for Zhihu in the coming months.

What is Zhihu's operating income?

Zhihu's total operating income in 2024 was -$65.91 million, based on the following breakdown:

Total Gross Profit: $298.77 million
Total Operating Expenses: $364.68 million

How has Zhihu revenue changed over the last 5 years?

Over the last 5 years, Zhihu's total revenue changed from $96.27 million in 2019 to $493.05 million in 2024, a change of 412.2%.

How much debt does Zhihu have?

Zhihu's total liabilities were at $210.60 million at the end of 2024, a 28.6% decrease from 2023, and a 35.0% increase since 2020.

How much cash does Zhihu have?

In the past 4 years, Zhihu's cash and equivalents has ranged from $147.32 million in 2020 to $656.19 million in 2022, and is currently $547.88 million as of their latest financial filing in 2024.

How has Zhihu's book value per share changed over the last 5 years?

Over the last 5 years, Zhihu's book value per share changed from 0.00 in 2019 to 1.84 in 2024, a change of 184.1%.

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This page (NYSE:ZH) was last updated on 5/5/2025 by MarketBeat.com Staff

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Zhihu (ZH) Financials

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Zhihu (ZH) Financials

Annual Income Statements for Zhihu

Quarterly Income Statements for Zhihu

Annual Cash Flow Statements for Zhihu

Quarterly Cash Flow Statements for Zhihu

Annual Balance Sheets for Zhihu

Quarterly Balance Sheets for Zhihu

Annual Metrics and Ratios for Zhihu

Quarterly Metrics and Ratios for Zhihu

Frequently Asked Questions About Zhihu's Financials

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