Saturday 17 October 2026 Export ZH’s income statement to Excel — free account

Zhihu Inc. Sponsored ADR

ZH Communication Services Internet Content & Information

Zhihu Inc. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $393.1 million, down 20.3% from fiscal 2024. In the quarter to June 2026, revenue grew 1.63%, EPS fell 153.9%, free cash flow grew 68.1% and total debt rose 99.5%, each against the same quarter a year earlier.

3.35 0.15 −4.29%

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Market cap: $208.4M
P/E: 0.0×
Fwd P/E: −22.5×
Dividend yield: —
F-score: 3/9
Altman Z: −0.60
Beneish M: −1.94
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.00

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	1	—	—	—	—

Insider Ownership 22.14%

Capital & Financial Ratios $m

Market Cap 208.42

Revenue 388.64

Net Income (43.28)

Free Cash Flow (130.85)

Net Debt (620.44)

Current Ratio 3.73

Debt/Equity 0.03

P/E ratio 0.00

Fwd P/E (22.50)

P/S ratio 0.66

P/B ratio 0.47

Past 5Y EPS Growth —

This Y EPS Growth (102.57%)

Next Y EPS Growth 70.84%

Next Y revenue growth 0.62%

Next 5Y EPS Growth 33.57%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 28.68%

10-year low 10-year high

P/B against its own 10 years 14.85%

10-year low 10-year high

EV/FCF against its own 10 years 93.12%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	769	666	606	636
Receivables	94	58	51	60
Inventory	—	—	—	—
Other	3	6	4	2
	898	751	677	715

	2023	2024	2025	Q'26
Payables	146	114	97	103
ST’ Debt	—	—	5	15
Other	71	51	47	49
	274	209	181	191

Compound Annual Growth %

	10y	5y	3y
Sales	—	13.66%	(9.06%)
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	0.00%	(12.45%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	94	102	—	—	—
’25	101	100	93	100	393
’24	133	128	120	111	493
’23	145	144	140	163	591
’22	117	125	128	152	523
’21	73	99	128	165	464
’20	—	—	—	—	207

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	—	—	—	—
’25	—	—	—	—	(52)
’24	—	—	—	—	(38)
’23	—	—	—	—	(59)
’22	—	—	—	—	(162)
’21	—	—	—	—	(69)
’20	—	—	—	—	(37)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	—	(17)	—	—	—
’25	—	(23)	—	(52)	(52)
’24	—	(54)	—	(39)	(39)
’23	—	(9)	—	(60)	(60)
’22	—	—	—	(162)	(162)
’21	—	—	—	(70)	(70)
’20	—	—	—	(38)	(38)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.02)	(0.07)	—	—	—
’25	(0.02)	0.12	(0.08)	(0.38)	(0.34)
’24	(0.24)	(0.12)	(0.02)	0.14	(0.26)
’23	(0.24)	(0.36)	(0.36)	(0.18)	(1.20)
’22	(0.96)	(0.72)	(0.42)	(0.17)	(2.28)
’21	(3.18)	(0.48)	(0.42)	(0.60)	(2.88)
’20	—	—	—	—	(3.64)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	—	28.80	5.34	3.91	2.55	3.19	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	—	83.09	33.36	12.66	5.74	6.32
People
People	Employees	—	—	—	—	1,651	2,649	2,515	2,731	1,887	1,154
	Revenue/emp, $m	—	—	—	0.00	0.13	0.18	0.21	0.22	0.26	0.34
Income, $m
Income, $m	Revenue	—	—	—	98	207	464	523	591	493	393
	Gross margin, %	—	—	—	46.58	56.04	52.51	50.16	54.68	60.60	59.94
	EBT	—	—	—	(146)	(79)	(203)	(227)	(117)	(24)	(25)
	EBT margin, %	—	—	—	(149.87)	(38.20)	(43.71)	(43.39)	(19.71)	(4.96)	(6.31)
	Net income	—	0	—	(146)	(79)	(204)	(229)	(118)	(23)	(28)
	Depreciation	—	—	—	3	3	3	4	4	3	3
Per share, $
Per share, $	Revenue	—	—	—	0.17	9.52	5.80	5.14	5.93	5.41	4.91
	Earnings	—	—	—	(0.73)	(3.64)	(2.88)	(2.28)	(1.20)	(0.26)	(0.34)
	Cash flow	—	—	—	(0.18)	(1.72)	(0.86)	(1.59)	(0.59)	(0.42)	(0.65)
	Capex	—	—	—	0.00	(0.01)	(0.01)	0.00	(0.01)	0.00	0.00
	Free cash flow	—	—	—	(0.18)	(1.73)	(0.88)	(1.59)	(0.60)	(0.42)	(0.65)
	Book value	—	—	—	0.81	(36.23)	13.20	8.12	6.64	6.30	6.93
	Shares, m	—	—	—	568	22	80	102	100	91	80
Valuation, ×
Valuation, ×	P/E	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	—	—	—	0.00	0.00	5.73	1.63	0.90	0.65	0.67
	P/B	—	—	—	0.00	0.00	2.52	1.03	0.80	0.56	0.47
	EV/Sales	—	—	—	0.00	0.00	3.31	(0.09)	(0.39)	(0.68)	(0.86)
	EV/FCF	—	—	—	0.00	0.00	0.00	0.00	0.77	2.07	2.02
Cash, $m
Cash, $m	Operating cash flow	—	—	—	(104)	(37)	(69)	(162)	(59)	(38)	(52)
	Capex	—	—	—	(1)	0	(1)	0	(1)	0	0
	Free cash flow	—	—	—	(104)	(38)	(70)	(162)	(60)	(39)	(52)
Balance, $m
Balance, $m	Working capital	—	—	—	451	415	1,010	797	624	543	495
	Total debt	—	—	—	4	0	6	8	—	—	5
	Net debt	—	—	—	(505)	(474)	(1,125)	(900)	(769)	(666)	(601)
	Shareholders’ equity	—	—	—	462	(788)	1,057	826	662	575	554
Returns, %
Returns, %	ROA	—	—	—	(72.83)	(31.98)	(23.55)	(18.40)	(11.50)	(2.70)	(3.61)
	ROIC	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	—	—	—	0.00	26.97	(171.48)	(24.35)	(15.97)	(3.81)	(4.89)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ZIP ZipRecruiter, Inc.	$398.8M	12.6×	— (loss-making)	+5.19% (above 0%: growing)	n/m	+50.07% (above 0%: growing)	89.34%	3.50%	Compare
PERI Perion Network Ltd	$357.9M	— (loss-making)	— (loss-making)	−4.60% (below 0%: shrinking)	n/m	−88.36% (below 0%: shrinking)	88.66%	(8.19%)	Compare
FVRR Fiverr International	$318.5M	10.3×	13.7×	−10.00% (below 0%: shrinking)	+33.33% (above 0%: growing)	−45.50% (below 0%: shrinking)	81.74%	4.48%	Compare
ANGI Angi Inc.	$262.0M	— (loss-making)	18.9×	−10.86% (below 0%: shrinking)	n/m	−72.68% (below 0%: shrinking)	95.29%	(94.25%)	Compare
ZH Zhihu Inc. Sponsored ADR	$208.4M	— (loss-making)	— (loss-making)	+1.63% (above 0%: growing)	n/m	+68.08% (above 0%: growing)	57.01%	(11.00%)
SSTK Shutterstock, Inc.	$169.6M	— (loss-making)	— (loss-making)	−16.93% (below 0%: shrinking)	n/m	−161.16% (below 0%: shrinking)	57.72%	(69.99%)	Compare
GIBO GIBO Holdings Limited	$151.2M	—	—	—	—	−71,813.51% (below 0%: shrinking)	—	—	Compare
DIBS 1stdibs.com, Inc.	$143.7M	— (loss-making)	— (loss-making)	+5.34% (above 0%: growing)	n/m	+10.30% (above 0%: growing)	73.90%	(8.85%)	Compare
DOYU DouYu International Holdings Limited Sponsored ADR	$108.0M	— (loss-making)	43.6×	−1.72% (below 0%: shrinking)	n/m	+59.89% (above 0%: growing)	16.21%	(2.17%)	Compare
Median of peers	$215.8M	—	18.9×	−4.60%	—	−59.09%	81.74%	(8.19%)

All 77 Internet Content & Information stocks →

Zhihu Inc. Sponsored ADR (ZH) key facts

Concern: Zhihu Inc. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $393.1 million, down 20.3% from fiscal 2024.
Zhihu Inc. Sponsored ADR (ZH) is an Internet Content & Information company in the Communication Services sector, traded in the US as an ADR.
As of October 16, 2026, ZH traded at $3.35, a market capitalization of $208.4 million.
Return on equity was −4.89% and debt-to-equity 0.03.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is −0.60 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.