Zhihu

HK$7.00As of Sun 8 Nov 2026, 12:00 UTC

HKEX:2390Communication

Country Hong Kong

PE (Fwd) —

TSR 5Y CAGR (25.79%)

Div yield —

ROE —

Internet Content & Information

Beta (5Y) 0.22

PE TTM —

TSR TTM (35.30%)

Mkt cap HK$1.649B

ROIC —

SE Grade™

—

Value

Quality

—

Moat

—

1Y Price

Reference

$7.57

8.14%

605.30%

Price below Reference Value

FY22

FY23

FY24

FY25

Earnings per share¥

(5.19)

(2.82)

(0.63)

(0.80)

15.20%

45.66%

77.66%

(27.56%)

Revenue¥B

3.605

4.199

3.599

2.749

21.82%

16.48%

(14.29%)

(23.62%)

TTM

FYE 31 Dec CNY

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

2.749

Revenue¥B

—

2.959

3.605

4.199

3.599

2.749

2.725

(1.83%)

(23.62)

Revenue growth%

—

21.82

16.48

(14.29)

(23.62)

(0.86)

1.09

—

59.94

Gross margin%

—

52.51

50.16

54.68

60.60

59.94

59.87

54.68

(13.86)

Operating margin%

—

(46.99)

(44.49)

(25.54)

(13.37)

(13.86)

(13.78)

(25.54)

(7.02)

Net margin%

—

(49.66)

(43.86)

(20.09)

(4.77)

(7.02)

(6.84)

(20.09)

—

P/E ratio (avg)x

—

EV/EBITx

—

FCF yield (avg)%

—

FCF margin%

—

FCF / Net incomex

—

ROIC%

—

Return on equity%

—

Return on assets%

—

(0.80)

EPS¥

—

(6.12)

(5.19)

(2.82)

(0.63)

(0.80)

(0.78)

—

(27.96)

EPS growth%

—

15.22

45.63

77.73

(27.96)

3.41

30.43

—

Bookvalue per sh¥

—

FCF per share¥

—

Dividend per sh¥

—

Div yield (avg)%

—

Payout ratio%

—

240.0

Shares (diluted)M

—

240.2

304.8

299.1

273.6

240.0

◌240.0

(0.01%)

12.25

Buyback yield%

—

(26.92)

1.87

8.55

12.25

◌—

5.21

—

D/E ratiox

—

1.430

Enterprise value¥B

—

6.252

5.252

2.264

2.673

1.430

(24.67%)

—

LT debt¥M

—

Peers (US$209.8M)

Cap (US$)

Maoyan Entertainment

541.1M

10.23x

Inkeverse Group Limited

172.0M

7.184x

Tian Ge Interactive…

83.99M

3.941x

Sunfun Info Co., Ltd.

213.4M

21.12x

Capital

TTM

10Y

Leveragex

—

EBIT/Intx

—

Own earn%

—

Sh yield%

12.25

5.21

Owners

Insiders/Inst%

—

Short interest%

—

SBC / revenue%

4.05

Record

10Y

Profitable years

0/5

Revenue growth years

2/4

EPS growth years

3/4

Dividend streakyrs

Op margin range%

−47–−13

$1 testx

—

Incr. ROIC%

—

Zhihu Inc., together with its subsidiaries, operates an online content community in the People’s Republic of China. The company offers contents in various categories, including career development, science and technology, business and finance, consumer decision-making, lifestyle, entertainment, and others.

Growth vs revenue

Latest

Trend

4Y CAGR

Rel growth

Revenue

¥2.749B

(1.83%)

1.00×

Cost of revenue

¥1.101B

(5.91%)

0.84×

Operating expenses

¥2.029B

(8.89%)

0.74×

Revenue by region

No breakdown available

Reinvestment returns

No breakdown available