(ZH) Zhihu - Overview
Exchange: NYSE •
Country: China •
Currency: USD •
Type: Common Stock •
ISIN: US98955N1081
Stock: Online Community, Content Platform, Advertising, Vocational Training
Total Rating 22
Risk 69
Buy Signal -1.39
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 54.0% |
| Relative Tail Risk | -9.45% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.23 |
| Alpha | -13.98 |
| Character TTM | |
|---|---|
| Beta | 0.856 |
| Beta Downside | 0.928 |
| Drawdowns 3y | |
|---|---|
| Max DD | 77.16% |
| CAGR/Max DD | -0.40 |
Description: ZH Zhihu December 31, 2025
Zhihu Inc. runs a Chinese-language online knowledge-sharing platform, enabling users to ask questions, provide answers, and create long-form content. Beyond the core community, the firm monetizes through technology services, consulting, marketing, vocational training, and holds an audio-visual content permit, reflecting a diversified revenue mix.
Listed on the NYSE under ticker ZH, Zhihu is classified in the GICS “Movies & Entertainment” sub-industry, though its primary business is a user-generated content ecosystem headquartered in Beijing.
Key data points (as of the latest filings) include ~120 million registered users, with approximately 30 million monthly active users, and a year-over-year revenue growth of ~28 % driven largely by premium subscriptions and targeted advertising. The platform’s performance is sensitive to China’s broader internet ad spend, which the China Internet Network Information Center (CNNIC) projects to grow at ~12 % CAGR through 2027, and to regulatory shifts affecting online content and data privacy.
For a deeper quantitative dive, you may want to explore ValueRay’s analyst toolkit.
Piotroski VR‑10 (Strict, 0-10) 2.5
| Net Income: 101.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.05 > 0.02 and ΔFCF/TA 1.92 > 1.0 |
| NWC/Revenue: 120.1% < 20% (prev 106.3%; Δ 13.84% < -1%) |
| CFO/TA -0.05 > 3% & CFO -280.2m > Net Income 101.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 3.69 > 1.5 & < 3 |
| Outstanding Shares: last quarter (79.8m) vs 12m ago -12.68% < -2% |
| Gross Margin: 62.18% > 18% (prev 0.60%; Δ 6159 % > 0.5%) |
| Asset Turnover: 51.37% > 50% (prev 64.38%; Δ -13.01% > 0%) |
| Interest Coverage Ratio: -2.37 > 6 (EBITDA TTM -501.0k / Interest Expense TTM -37.8m) |
Altman Z'' 2.16
| A: 0.65 (Total Current Assets 4.87b - Total Current Liabilities 1.32b) / Total Assets 5.50b |
| B: -1.61 (Retained Earnings -8.88b / Total Assets 5.50b) |
| C: 0.02 (EBIT TTM 89.9m / Avg Total Assets 5.76b) |
| D: 2.94 (Book Value of Equity 4.05b / Total Liabilities 1.38b) |
| Altman-Z'' Score: 2.16 = BBB |
Beneish M -2.23
| DSRI: 0.93 (Receivables 350.1m/493.8m, Revenue 2.96b/3.87b) |
| GMI: 0.96 (GM 62.18% / 59.63%) |
| AQI: 2.67 (AQ_t 0.10 / AQ_t-1 0.04) |
| SGI: 0.76 (Revenue 2.96b / 3.87b) |
| TATA: 0.07 (NI 101.3m - CFO -280.2m) / TA 5.50b) |
| Beneish M-Score: -2.23 (Cap -4..+1) = BBB |
What is the price of ZH shares?
As of February 07, 2026, the stock is trading at USD 3.47 with a total of 275,037 shares traded.
Over the past week, the price has changed by -7.96%, over one month by -0.57%, over three months by -17.77% and over the past year by +0.58%.
Over the past week, the price has changed by -7.96%, over one month by -0.57%, over three months by -17.77% and over the past year by +0.58%.
Is ZH a buy, sell or hold?
Zhihu has received a consensus analysts rating of 4.57.
Therefore, it is recommended to buy ZH.
- StrongBuy: 5
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the ZH price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 5.5 | 57.9% |
| Analysts Target Price | 5.5 | 57.9% |
| ValueRay Target Price | 2.6 | -24.5% |
ZH Fundamental Data Overview February 04, 2026
Market Cap CNY = 2.15b (309.4m USD * 6.9418 USD.CNY)
P/E Trailing = 23.0
P/E Forward = 37.3134
P/S = 0.1071
P/B = 0.5775
Revenue TTM = 2.96b CNY
EBIT TTM = 89.9m CNY
EBITDA TTM = -501.0k CNY
Long Term Debt = 45.2m CNY (from capitalLeaseObligations, last quarter)
Short Term Debt = 130.4m CNY (from shortTermDebt, last quarter)
Debt = 150.7m CNY (from shortLongTermDebtTotal, last quarter)
Net Debt = -2.58b CNY (from netDebt column, last quarter)
Enterprise Value = -2.07b CNY (2.15b + Debt 150.7m - CCE 4.37b)
Interest Coverage Ratio = -2.37 (Ebit TTM 89.9m / Interest Expense TTM -37.8m)
EV/FCF = 7.33x (Enterprise Value -2.07b / FCF TTM -282.9m)
FCF Yield = 13.64% (FCF TTM -282.9m / Enterprise Value -2.07b)
FCF Margin = -9.57% (FCF TTM -282.9m / Revenue TTM 2.96b)
Net Margin = 3.43% (Net Income TTM 101.3m / Revenue TTM 2.96b)
Gross Margin = 62.18% ((Revenue TTM 2.96b - Cost of Revenue TTM 1.12b) / Revenue TTM)
Gross Margin QoQ = 61.26% (prev 62.52%)
Tobins Q-Ratio = -0.38 (set to none) (Enterprise Value -2.07b / Total Assets 5.50b)
Interest Expense / Debt = 22.85% (Interest Expense 34.4m / Debt 150.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = 71.0m (EBIT 89.9m * (1 - 21.00%))
Current Ratio = 3.69 (Total Current Assets 4.87b / Total Current Liabilities 1.32b)
Debt / Equity = 0.04 (Debt 150.7m / totalStockholderEquity, last quarter 4.05b)
Debt / EBITDA = 5148 (out of range, set to none) (Net Debt -2.58b / EBITDA -501.0k)
Debt / FCF = 9.12 (negative FCF - burning cash) (Net Debt -2.58b / FCF TTM -282.9m)
Total Stockholder Equity = 4.11b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.76% (Net Income 101.3m / Total Assets 5.50b)
RoE = 2.47% (Net Income TTM 101.3m / Total Stockholder Equity 4.11b)
RoCE = 2.16% (EBIT 89.9m / Capital Employed (Equity 4.11b + L.T.Debt 45.2m))
RoIC = 1.70% (NOPAT 71.0m / Invested Capital 4.19b)
WACC = 9.66% (E(2.15b)/V(2.30b) * Re(9.07%) + D(150.7m)/V(2.30b) * Rd(22.85%) * (1-Tc(0.21)))
Discount Rate = 9.07% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -8.91%
Fair Price DCF = unknown (Cash Flow -282.9m)
EPS Correlation: 68.98 | EPS CAGR: 10.17% | SUE: -0.33 | # QB: 0
Revenue Correlation: -50.58 | Revenue CAGR: -10.88% | SUE: -0.04 | # QB: 0
EPS next Year (2026-12-31): EPS=0.65 | Chg30d=-0.127 | Revisions Net=+0 | Growth EPS=+182.6% | Growth Revenue=-4.0%
P/E Trailing = 23.0
P/E Forward = 37.3134
P/S = 0.1071
P/B = 0.5775
Revenue TTM = 2.96b CNY
EBIT TTM = 89.9m CNY
EBITDA TTM = -501.0k CNY
Long Term Debt = 45.2m CNY (from capitalLeaseObligations, last quarter)
Short Term Debt = 130.4m CNY (from shortTermDebt, last quarter)
Debt = 150.7m CNY (from shortLongTermDebtTotal, last quarter)
Net Debt = -2.58b CNY (from netDebt column, last quarter)
Enterprise Value = -2.07b CNY (2.15b + Debt 150.7m - CCE 4.37b)
Interest Coverage Ratio = -2.37 (Ebit TTM 89.9m / Interest Expense TTM -37.8m)
EV/FCF = 7.33x (Enterprise Value -2.07b / FCF TTM -282.9m)
FCF Yield = 13.64% (FCF TTM -282.9m / Enterprise Value -2.07b)
FCF Margin = -9.57% (FCF TTM -282.9m / Revenue TTM 2.96b)
Net Margin = 3.43% (Net Income TTM 101.3m / Revenue TTM 2.96b)
Gross Margin = 62.18% ((Revenue TTM 2.96b - Cost of Revenue TTM 1.12b) / Revenue TTM)
Gross Margin QoQ = 61.26% (prev 62.52%)
Tobins Q-Ratio = -0.38 (set to none) (Enterprise Value -2.07b / Total Assets 5.50b)
Interest Expense / Debt = 22.85% (Interest Expense 34.4m / Debt 150.7m)
Taxrate = 21.0% (US default 21%)
NOPAT = 71.0m (EBIT 89.9m * (1 - 21.00%))
Current Ratio = 3.69 (Total Current Assets 4.87b / Total Current Liabilities 1.32b)
Debt / Equity = 0.04 (Debt 150.7m / totalStockholderEquity, last quarter 4.05b)
Debt / EBITDA = 5148 (out of range, set to none) (Net Debt -2.58b / EBITDA -501.0k)
Debt / FCF = 9.12 (negative FCF - burning cash) (Net Debt -2.58b / FCF TTM -282.9m)
Total Stockholder Equity = 4.11b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.76% (Net Income 101.3m / Total Assets 5.50b)
RoE = 2.47% (Net Income TTM 101.3m / Total Stockholder Equity 4.11b)
RoCE = 2.16% (EBIT 89.9m / Capital Employed (Equity 4.11b + L.T.Debt 45.2m))
RoIC = 1.70% (NOPAT 71.0m / Invested Capital 4.19b)
WACC = 9.66% (E(2.15b)/V(2.30b) * Re(9.07%) + D(150.7m)/V(2.30b) * Rd(22.85%) * (1-Tc(0.21)))
Discount Rate = 9.07% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -8.91%
Fair Price DCF = unknown (Cash Flow -282.9m)
EPS Correlation: 68.98 | EPS CAGR: 10.17% | SUE: -0.33 | # QB: 0
Revenue Correlation: -50.58 | Revenue CAGR: -10.88% | SUE: -0.04 | # QB: 0
EPS next Year (2026-12-31): EPS=0.65 | Chg30d=-0.127 | Revisions Net=+0 | Growth EPS=+182.6% | Growth Revenue=-4.0%