Stocks Consumer discretionary ZH
NYSE · Consumer discretionaryZhihu Inc. (ZH)
Zhihu Inc. reported revenue of $393.1M in fiscal 2025, down 20.3% from a year earlier. It posted a net loss of $27.6M. In fiscal 2025 capital spending exceeded operating cash flow by $52.2M. At December 31, 2025 it held $481.8M in cash. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on April 17, 2026.
Watch ZH in 60 secondsWhat Zhihu Inc. does
Zhihu Inc. is registered with the SEC under industry code SIC 7389 (Services-Business Services, NEC). Its shares trade on NYSE under the ticker ZH.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $393.1M | -$27.6M | -$0.11 | -$52.2M |
| 2024 | $493M | -$23.5M | -$0.09 | -$38.8M |
| 2023 | $591.4M | -$118.8M | -$0.40 | -$59.7M |
| 2022 | $522.7M | -$229.2M | -$0.75 | -$161.8M |
| 2021 | $464.4M | -$203.8M | -$0.96 | -$70.3M |
Full financial statements: income, balance sheet and cash flow
Where ZH ranks in Consumer discretionary
Latest SEC filings
What Zhihu Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- September 24, 2026
- September 21, 2026
- September 14, 2026
- September 8, 2026
- September 8, 2026
- August 31, 2026
- August 26, 2026
- August 24, 2026
- August 17, 2026
- August 10, 2026
Insider trades
What the people running Zhihu Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 2 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| July 28, 2026 | Zhou YuanChief Executive Officer, Director | Other changeindirect | 371,436 | - |
| July 28, 2026 | Zhou YuanChief Executive Officer, Director | Other changeindirect | 371,436 | - |
| June 5, 2026 | Cheng Li-LanDirector | Sold | 360 | $1K |
| May 27, 2026 | Cheng Li-LanDirector | Received as pay | 33,867 | $338.7 |
| May 27, 2026 | Ni HopeDirector | Received as pay | 33,867 | $338.7 |
| April 17, 2026 | Wang HanChief Financial Officer | Received as pay | 330,000 | $3.3K |
Who owns ZH
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Tencent Holdings Limited13D, may seek influence with 1 related filers | 15.4% | November 12, 2024 |
| MO Holding Ltd13D, may seek influence with 1 related filers | 14.1% | November 13, 2024 |
| Plus Channel Limited13D, may seek influence with 1 related filers | 10% | December 29, 2025 |
| FIL Limited13G, passive with 2 related filers | 7.5% | August 6, 2026 |
Largest institutional holders
Insiders
4 insiders reported holding 39,761,952 shares in total, about $151.1M at the last price.
| Holder | Shares |
|---|---|
| Zhou YuanChief Executive Officer, Director | 36,854,57836,854,578 held indirectly |
| Wang HanChief Financial Officer | 2,830,000 |
| Ni HopeDirector | 43,867 |
| Cheng Li-LanDirector | 33,507 |
Questions about ZH
What does Zhihu Inc. do?
Zhihu Inc. is registered with the SEC under industry code SIC 7389 (Services-Business Services, NEC). Its shares trade on NYSE under the ticker ZH.
Is Zhihu Inc. profitable?
No. In fiscal 2025 it reported a net loss of $27.6M on revenue of $393.1M.
How much revenue does Zhihu Inc. make?
In fiscal 2025 Zhihu Inc. reported revenue of $393.1M. That is 20.3% less than a year earlier.
When did Zhihu Inc. last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on April 17, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from September 24, 2026.
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Follow ZH: get an email when it filesWhere the numbers come from
Financial figures are the values Zhihu Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.