ZHZhihu Inc.
Next earnings Aug 25, 2026
$3.26
▲ +2.19%AvoidConservative balance sheet (liabilities/equity 0.35x); but revenue fell -20.3% YoY.Revenue (FY2025) $393MFull call ↓
$3.26▼ -30.19%
over 1Y
L $2.61H $5.42
Today
+2.2%
1W
+0.9%
1M
+1.9%
3M
+1.6%
YTD
-2.1%
1Y
-30.2%
Avoid
Conviction
Horizon
Medium (3–12mo)
Street · 9 analysts
Buy
Conservative balance sheet (liabilities/equity 0.35x); but revenue fell -20.3% YoY.
Revenue (FY2025) $393M · FY2025
This call stands until the filings change it — the engine re-rates on new 10-K/10-Q/8-K facts, never on price moves. Hit Watch above to follow ZH (Pro alerts fire the moment a rating flips), or catch every change in Saturday’s Flip Side. How to read a call
Zhihu Inc. shows $393M in FY2025 revenue (-20.3% YoY), a -7.1% net margin, and -5.1% ROE.
Supporting the case: conservative balance sheet (liabilities/equity 0.35x).
Is ZH a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~60d expiry
- Long put 3.5 @ ~0.32 est
- Short put 3 @ ~0.07 est
debit $25max +$25max −$25BE 3.25
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financialsannual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $464M | $523M | $591M | $493M | $393M |
| Gross profit | $244M | $262M | $323M | $299M | $236M |
| Operating income | -$218M | -$233M | -$151M | -$65.9M | -$72.5M |
| Net income | -$204M | -$229M | -$118M | -$23.1M | -$27.9M |
| Diluted EPS | -$0.96 | -$0.75 | -$0.40 | -$0.09 | -$0.11 |
| Net margin | -43.9% | -43.8% | -20.0% | -4.7% | -7.1% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value-$195M
EV / EBITDA—
EV / Sales-0.5
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-9.9%
FCF yield-18.5%
Quality & risk
ROIC (est.)-10.4%
Free cash flow-$52.2M
Total debt$5.00M
Net cash$477M
Altman Z-Score-0.54 distress
Piotroski F-Score2/8
Capital returns
Buyback yield8.5%
Dividend yield (est.)—
Shareholder yield8.5%
Shares Δ YoY-12.3%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Recent filings
all on EDGAR ↗6-KPeriod ending 2026-07-062026-07-06open ↗6-KPeriod ending 2026-07-012026-07-01open ↗6-KPeriod ending 2026-06-292026-06-29open ↗6-KPeriod ending 2026-06-242026-06-25open ↗3Period ending 2026-06-032026-06-12open ↗4Period ending 2026-06-032026-06-12open ↗4Period ending 2026-05-272026-06-12open ↗4Period ending 2026-05-272026-06-12open ↗6-KPeriod ending 2026-06-082026-06-08open ↗6-KPeriod ending 2026-06-082026-06-08open ↗6-KPeriod ending 2026-06-032026-06-03open ↗6-KPeriod ending 2026-05-182026-05-18open ↗
Frequently asked
- Is Zhihu Inc. (ZH) a buy?
- ZH currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. Conservative balance sheet (liabilities/equity 0.35x); but revenue fell -20.3% YoY.
- What is Zhihu Inc.'s quality score?
- ZH scores 46.04131256112481/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001835724, latest 6-K filed 2026-07-06) · EODHD · as of 7/11/2026, 10:38:00 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
Rule-based analysis, generated automatically from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 11, 2026, 6:38 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.