ZH
Zhihu Inc.
There isn't enough reported data to score ZH yet.
ZH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Weak | |
| Strong |
ZH's balance sheet is currently strong, and its revenue is stable, but its profitability and cash flow are weak.
ZH PE Valuation
ZH has no meaningful PE right now: it lost money over the past year.
ZH Forward outlook
There aren't enough analyst estimates for ZH to show an outlook.
ZH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.56 | -333% |
| Q1 2026 | -$0.36 | -$0.33 |
| Q4 2025 | -$0.36 | -$0.08 |
| Q3 2025 | $0.17 | +$0.75 |
| Q2 2025 | $0.24 | +$1.23 |
| Q1 2025 | -$0.03 | +$1.24 |
| Q4 2024 | -$0.28 | +$0.99 |
| Q3 2024 | -$0.58 | +$0.80 |
ZH has swung to a loss: it lost $0.56 per share over the past year, after a profit the year before.
ZH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $103.3M | -3.1% |
| Q1 2026 | $97.2M | -11% |
| Q4 2025 | $95.2M | -27% |
| Q3 2025 | $98.9M | -20% |
| Q2 2025 | $106.6M | -24% |
| Q1 2025 | $109.3M | -25% |
| Q4 2024 | $130.9M | -22% |
| Q3 2024 | $124M | -20% |
ZH's revenue has slid since its 2023 peak: $103M last quarter, down 3.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -11% | +1.7 points |
| Q1 2026 | -9.7% | -2.4 points |
| Q4 2025 | -21% | -23 points |
| Q3 2025 | -15% | -5.2 points |
| Q2 2025 | -13% | +7 points |
| Q1 2025 | -7.2% | +16 points |
| Q4 2024 | 1.4% | +17 points |
| Q3 2024 | -10% | +24 points |
ZH's operating margin was −11% last quarter, up 1.7 points from the same quarter a year ago.
ZH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | $0 |
| Q1 2026 | $0 | $0 |
| Q4 2025 | -$63.7M | -$63.7M |
| Q3 2025 | $0 | $0 |
| Q2 2025 | $0 | $0 |
| Q1 2025 | $0 | $0 |
| Q4 2024 | $0 | $0 |
| Q3 2024 | $0 | $0 |
ZH's free cash flow was −$64M over the past year, against $0 the year before.
ZH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -743K shares |
| 1 year | -4.7% | -3.8M shares |
| 3 years | -24% | -23.8M shares |
| 5 years | -21% | -20.4M shares |
| Available history | -23% | -22.6M shares |
ZH has 76M diluted shares, down 4.7% from a year ago, with $55M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $55.5M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
ZH spent $55M buying back its own shares over the past year, after none the year before.
ZH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | -18.6x | Net Cash |
| Q2 2025 | -17.0x | Net Cash |
ZH has more cash than debt.
ZH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.6 | Neutral |
| Stochastic | 14.7 | Oversold |
ZH's weekly RSI is 40 (neutral) and its Stochastic is 15 (oversold).
ZH PE vs Communication Services Sector
| Metric | ZH | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 16x | — |
ZH has no meaningful PE right now: it lost money over the past year.
ZH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.21 | 18% below |
| 20 week MA | $3.14 | 16% below |
| 50 week MA | $3.23 | 18% below |
| 100 week MA | $3.75 | 30% below |
| 200 week MA | $4.55 | 42% below |
ZH is in a downtrend: it's below all five of its weekly moving averages, and 42% below its 200-week average.
ZH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $51.0 | $31.7 | -38% |
| 2022 | $31.7 | $8.40 | -73% |
| 2023 | $8.40 | $5.62 | -33% |
| 2024 | $5.62 | $3.71 | -34% |
| 2025 | $3.71 | $3.38 | -8.9% |
| 2026 YTD | $3.38 | $2.64 | -22% |
ZH has finished every year since 2021 lower, and it's down 22% so far in 2026.