ZH
Zhihu Inc.
Internet Content & Information
Market Cap$310M
5Y Perf.-93.0%
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Stock Comparison
ZH vs HUYA vs DOYU vs JOYY vs IQ
Revenue, margins, valuation, and 5-year total return — side by side.
HUYA
HUYA Inc.
Entertainment
Market Cap$481M
5Y Perf.-83.6%
DOYU
DouYu International Holdings Limited
Internet Content & Information
Market Cap$142M
5Y Perf.-95.5%
JOYY
JOYY, Inc. Sponsored ADR Class A
Internet Content & Information
Market Cap$3.17B
5Y Perf.-37.1%
IQ
iQIYI, Inc.
Entertainment
Market Cap$1.18B
5Y Perf.-92.7%
ZH vs HUYA vs DOYU vs JOYY vs IQ — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ZH | HUYA | DOYU | JOYY | IQ |
|---|---|---|---|---|---|
| Industry | Internet Content & Information | Entertainment | Internet Content & Information | Internet Content & Information | Entertainment |
| Market Cap | $310M | $481M | $142M | $3.17B | $1.18B |
| Revenue (TTM) | $2.97B | $6.11B | $4.20B | $2.24B | $27.11B |
| Net Income (TTM) | $103M | $-153M | $-202M | $-146M | $-390M |
| Gross Margin | 62.2% | 12.7% | 9.2% | 36.0% | 21.9% |
| Operating Margin | -7.8% | -3.4% | -7.1% | -18.1% | 1.7% |
| Forward P/E | — | 4.0x | 4.3x | 1.6x | 4.8x |
| Total Debt | $19M | $49M | $16M | $31M | $14.19B |
| Cash & Equiv. | $4.00B | $1.19B | $1.02B | $445M | $3.53B |
ZH vs HUYA vs DOYU vs JOYY vs IQ — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
ZH
HUYA
DOYU
JOYY
IQ
| Stock | Mar 21 | May 26 | Return |
|---|---|---|---|
| Zhihu Inc. (ZH) | 100 | 7.0 | -93.0% |
| HUYA Inc. (HUYA) | 100 | 16.4 | -83.6% |
| DouYu International… (DOYU) | 100 | 4.5 | -95.5% |
| JOYY, Inc. Sponsore… (JOYY) | 100 | 62.9 | -37.1% |
| iQIYI, Inc. (IQ) | 100 | 7.3 | -92.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ZH vs HUYA vs DOYU vs JOYY vs IQ
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: JOYY leads in 4 of 7 categories (5-stock set), making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Zhihu Inc. is the stronger pick specifically for profitability and margin quality and operational efficiency and capital deployment. DOYU also leads in specific categories worth noting. As sector peers, any of these can serve as alternatives in the same allocation.
ZH
Zhihu Inc.
The Growth Play
ZH is the #2 pick in this set and the best alternative if growth exposure is your priority.
- Rev growth -13.1%, EPS growth 77.7%, 3Y rev CAGR 7.7%
- 3.5% margin vs JOYY's -6.5%
- 1.9% ROA vs DOYU's -4.7%, ROIC -25.6% vs -15.4%
Best for: growth exposure
HUYA
HUYA Inc.
The Income Angle
HUYA lags the leaders in this set but could rank higher in a more targeted comparison.
Best for: communication services exposure
DOYU
DouYu International Holdings Limited
The Income Pick
DOYU ranks third and is worth considering specifically for income & stability and sleep-well-at-night.
- Dividend streak 2 yrs, beta 1.10, yield 100.0%
- Lower volatility, beta 1.10, Low D/E 0.4%, current ratio 3.63x
- Beta 1.10, yield 100.0%, current ratio 3.63x
- 100.0% yield, 2-year raise streak, vs HUYA's 56.7%, (3 stocks pay no dividend)
Best for: income & stability and sleep-well-at-night
JOYY
JOYY, Inc. Sponsored ADR Class A
The Long-Run Compounder
JOYY carries the broadest edge in this set and is the clearest fit for long-term compounding.
- 46.8% 10Y total return vs HUYA's -60.1%
- -1.3% revenue growth vs DOYU's -22.8%
- Lower P/E (1.6x vs 4.3x)
- Beta 0.64 vs IQ's 1.43, lower leverage
Best for: long-term compounding
IQ
iQIYI, Inc.
The Value Angle
Among these 5 stocks, IQ doesn't own a clear edge in any measured category.
Best for: communication services exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | JOYY | -1.3% revenue growth vs DOYU's -22.8% |
| Value | JOYY | Lower P/E (1.6x vs 4.3x) |
| Quality / Margins | ZH | 3.5% margin vs JOYY's -6.5% |
| Stability / Safety | JOYY | Beta 0.64 vs IQ's 1.43, lower leverage |
| Dividends | DOYU | 100.0% yield, 2-year raise streak, vs HUYA's 56.7%, (3 stocks pay no dividend) |
| Momentum (1Y) | JOYY | +50.9% vs IQ's -36.0% |
| Efficiency (ROA) | ZH | 1.9% ROA vs DOYU's -4.7%, ROIC -25.6% vs -15.4% |
ZH vs HUYA vs DOYU vs JOYY vs IQ — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2024
FY 2024
FY 2024
FY 2024
ZH vs HUYA vs DOYU vs JOYY vs IQ — Financial Metrics
Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLDOYULAGGINGIQ
Who Leads Where
DOYU leads in 2 of 6 categories
JOYY leads 2 • ZH leads 1 • HUYA leads 0 • IQ leads 0 • 1 tied
Explore the data ↓IQiQIYI, Inc.
0leads
HUYAHUYA Inc.
0leads
ZHZhihu Inc.
1leads
JOYYJOYY, Inc. Sponsored …
2leads
DOYUDouYu International H…
2leads
6 Total Categories
CATEGORYLEADERvs JOYYvs ZHMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
DOYU2/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
ZH3/9
Total Returns1Y, 3Y, 5Y total returns with dividends
JOYY3/6
Risk & VolatilityBeta, volatility, and downside exposure
JOYY2/2
Analyst OutlookRatings, price targets, and dividends
DOYU2/2
Income & Cash Flow (Last 12 Months)
Evenly matched — ZH and DOYU each lead in 2 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
IQ is the larger business by revenue, generating $27.1B annually — 12.1x JOYY's $2.2B. ZH is the more profitable business, keeping 3.5% of every revenue dollar as net income compared to JOYY's -6.5%. On growth, DOYU holds the edge at +2.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ZHZhihu Inc. | HUYAHUYA Inc. | DOYUDouYu Internation… | JOYYJOYY, Inc. Sponso… | IQiQIYI, Inc. |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $3.0B | $6.1B | $4.2B | $2.2B | $27.1B |
| EBITDAEarnings before interest/tax | -$148M | -$120M | -$275M | -$317M | $6.3B |
| Net IncomeAfter-tax profit | $103M | -$153M | -$202M | -$146M | -$390M |
| Free Cash FlowCash after capex | $0 | $0 | $0 | $0 | $466M |
| Gross MarginGross profit ÷ Revenue | +62.2% | +12.7% | +9.2% | +36.0% | +21.9% |
| Operating MarginEBIT ÷ Revenue | -7.8% | -3.4% | -7.1% | -18.1% | +1.7% |
| Net MarginNet income ÷ Revenue | +3.5% | -2.5% | -4.8% | -6.5% | -1.4% |
| FCF MarginFCF ÷ Revenue | -7.8% | -1.9% | -5.9% | +10.0% | +1.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | -20.3% | +1.7% | +2.1% | -3.6% | -7.8% |
| EPS Growth (YoY)Latest quarter vs prior year | -4.2% | -118.5% | +179.1% | -9.2% | -2.1% |
Evenly matched — ZH and DOYU each lead in 2 of 6 comparable metrics.
Valuation Metrics
DOYU leads this category, winning 2 of 5 comparable metrics.
Valuation Metrics
| Metric | ZHZhihu Inc. | HUYAHUYA Inc. | DOYUDouYu Internation… | JOYYJOYY, Inc. Sponso… | IQiQIYI, Inc. |
|---|---|---|---|---|---|
| Market CapShares × price | $310M | $481M | $142M | $3.2B | $1.2B |
| Enterprise ValueMkt cap + debt − cash | -$275M | $314M | -$5M | $2.8B | $2.7B |
| Trailing P/EPrice ÷ TTM EPS | -12.20x | -103.70x | -3.31x | -22.69x | 10.69x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 3.97x | 4.28x | 1.62x | 4.83x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | — | — |
| EV / EBITDAEnterprise value multiple | — | — | — | — | 10.27x |
| Price / SalesMarket cap ÷ Revenue | 0.58x | 0.54x | 0.23x | 1.42x | 0.27x |
| Price / BookPrice ÷ Book value/share | 0.50x | 0.67x | 0.23x | 0.72x | 0.60x |
| Price / FCFMarket cap ÷ FCF | — | — | — | 14.14x | 4.13x |
DOYU leads this category, winning 2 of 5 comparable metrics.
Profitability & Efficiency
ZH leads this category, winning 3 of 9 comparable metrics.
Profitability & Efficiency
ZH delivers a 2.5% return on equity — every $100 of shareholder capital generates $2 in annual profit, vs $-6 for DOYU. DOYU carries lower financial leverage with a 0.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to IQ's 1.06x. On the Piotroski fundamental quality scale (0–9), HUYA scores 7/9 vs DOYU's 3/9, reflecting strong financial health.
| Metric | ZHZhihu Inc. | HUYAHUYA Inc. | DOYUDouYu Internation… | JOYYJOYY, Inc. Sponso… | IQiQIYI, Inc. |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +2.5% | -2.4% | -6.5% | -2.8% | -2.9% |
| ROA (TTM)Return on assets | +1.9% | -1.7% | -4.7% | -1.8% | -0.9% |
| ROICReturn on invested capital | -25.6% | -1.7% | -15.4% | -6.7% | +5.8% |
| ROCEReturn on capital employed | -10.8% | -2.1% | -10.3% | -7.9% | +7.8% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 | 3 | 6 | 5 |
| Debt / EquityFinancial leverage | 0.00x | 0.01x | 0.00x | 0.01x | 1.06x |
| Net DebtTotal debt minus cash | -$4.0B | -$1.1B | -$1.0B | -$414M | $10.7B |
| Cash & Equiv.Liquid assets | $4.0B | $1.2B | $1.0B | $445M | $3.5B |
| Total DebtShort + long-term debt | $19M | $49M | $16M | $31M | $14.2B |
| Interest CoverageEBIT ÷ Interest expense | — | — | — | 30.37x | 0.77x |
ZH leads this category, winning 3 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
JOYY leads this category, winning 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in JOYY five years ago would be worth $8,013 today (with dividends reinvested), compared to $693 for ZH. Over the past 12 months, JOYY leads with a +50.9% total return vs IQ's -36.0%. The 3-year compound annual growth rate (CAGR) favors DOYU at 31.1% vs IQ's -41.1% — a key indicator of consistent wealth creation.
| Metric | ZHZhihu Inc. | HUYAHUYA Inc. | DOYUDouYu Internation… | JOYYJOYY, Inc. Sponso… | IQiQIYI, Inc. |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +1.8% | +5.6% | -31.8% | -3.1% | -40.4% |
| 1-Year ReturnPast 12 months | -15.1% | +26.9% | -34.2% | +50.9% | -36.0% |
| 3-Year ReturnCumulative with dividends | -46.2% | +99.7% | +125.5% | +123.0% | -79.6% |
| 5-Year ReturnCumulative with dividends | -93.1% | -60.8% | -71.6% | -19.9% | -91.2% |
| 10-Year ReturnCumulative with dividends | -93.4% | -60.1% | -78.8% | +46.8% | -92.2% |
| CAGR (3Y)Annualised 3-year return | -18.7% | +25.9% | +31.1% | +30.6% | -41.1% |
JOYY leads this category, winning 3 of 6 comparable metrics.
Risk & Volatility
JOYY leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
JOYY is the less volatile stock with a 0.64 beta — it tends to amplify market swings less than IQ's 1.43 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JOYY currently trades 83.1% from its 52-week high vs IQ's 42.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ZHZhihu Inc. | HUYAHUYA Inc. | DOYUDouYu Internation… | JOYYJOYY, Inc. Sponso… | IQiQIYI, Inc. |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.28x | 1.17x | 1.10x | 0.64x | 1.43x |
| 52-Week HighHighest price in past year | $5.55 | $4.93 | $9.34 | $70.96 | $2.84 |
| 52-Week LowLowest price in past year | $2.57 | $2.21 | $4.28 | $41.77 | $1.07 |
| % of 52W HighCurrent price vs 52-week peak | +61.1% | +64.9% | +50.3% | +83.1% | +42.6% |
| RSI (14)Momentum oscillator 0–100 | 49.5 | 54.2 | 47.0 | 53.2 | 45.6 |
| Avg Volume (50D)Average daily shares traded | 444K | 1.0M | 26K | 282K | 11.1M |
JOYY leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
DOYU leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: ZH as "Buy", HUYA as "Buy", DOYU as "Hold", JOYY as "Buy", IQ as "Buy". Consensus price targets imply 92.1% upside for DOYU (target: $9) vs 7.8% for HUYA (target: $3). For income investors, DOYU offers the higher dividend yield at 100.00% vs HUYA's 56.67%.
| Metric | ZHZhihu Inc. | HUYAHUYA Inc. | DOYUDouYu Internation… | JOYYJOYY, Inc. Sponso… | IQiQIYI, Inc. |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Hold | Buy | Buy |
| Price TargetConsensus 12-month target | — | $3.45 | $9.03 | $66.00 | $2.16 |
| # AnalystsCovering analysts | 8 | 15 | 7 | 5 | 22 |
| Dividend YieldAnnual dividend ÷ price | — | +56.7% | +100.0% | — | — |
| Dividend StreakConsecutive years of raises | — | 1 | 2 | 0 | 1 |
| Dividend / ShareAnnual DPS | — | $12.34 | $68.16 | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +19.0% | +7.6% | +10.9% | +8.2% | 0.0% |
DOYU leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
DOYU leads in 2 of 6 categories (Valuation Metrics, Analyst Outlook). JOYY leads in 2 (Total Returns, Risk & Volatility). 1 tied.
Best OverallDouYu International Holding… (DOYU)Leads 2 of 6 categories
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ZH vs HUYA vs DOYU vs JOYY vs IQ: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is ZH or HUYA or DOYU or JOYY or IQ a better buy right now?
For growth investors, JOYY, Inc.
Sponsored ADR Class A (JOYY) is the stronger pick with -1. 3% revenue growth year-over-year, versus -22. 8% for DouYu International Holdings Limited (DOYU). iQIYI, Inc. (IQ) offers the better valuation at 10. 7x trailing P/E (4. 8x forward), making it the more compelling value choice. Analysts rate Zhihu Inc. (ZH) a "Buy" — based on 8 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ZH or HUYA or DOYU or JOYY or IQ?
On forward P/E, JOYY, Inc.
Sponsored ADR Class A is actually cheaper at 1. 6x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — ZH or HUYA or DOYU or JOYY or IQ?
Over the past 5 years, JOYY, Inc.
Sponsored ADR Class A (JOYY) delivered a total return of -19. 9%, compared to -93. 1% for Zhihu Inc. (ZH). Over 10 years, the gap is even starker: JOYY returned +46. 8% versus ZH's -93. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ZH or HUYA or DOYU or JOYY or IQ?
By beta (market sensitivity over 5 years), JOYY, Inc.
Sponsored ADR Class A (JOYY) is the lower-risk stock at 0. 64β versus iQIYI, Inc. 's 1. 43β — meaning IQ is approximately 121% more volatile than JOYY relative to the S&P 500. On balance sheet safety, DouYu International Holdings Limited (DOYU) carries a lower debt/equity ratio of 0% versus 106% for iQIYI, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — ZH or HUYA or DOYU or JOYY or IQ?
By revenue growth (latest reported year), JOYY, Inc.
Sponsored ADR Class A (JOYY) is pulling ahead at -1. 3% versus -22. 8% for DouYu International Holdings Limited (DOYU). On earnings-per-share growth, the picture is similar: Zhihu Inc. grew EPS 77. 7% year-over-year, compared to -969. 4% for DouYu International Holdings Limited. Over a 3-year CAGR, ZH leads at 7. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — ZH or HUYA or DOYU or JOYY or IQ?
iQIYI, Inc.
(IQ) is the more profitable company, earning 2. 6% net margin versus -7. 0% for DouYu International Holdings Limited — meaning it keeps 2. 6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IQ leads at 6. 2% versus -18. 1% for JOYY. At the gross margin level — before operating expenses — ZH leads at 60. 6%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is ZH or HUYA or DOYU or JOYY or IQ more undervalued right now?
On forward earnings alone, JOYY, Inc.
Sponsored ADR Class A (JOYY) trades at 1. 6x forward P/E versus 4. 8x for iQIYI, Inc. — 3. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DOYU: 92. 1% to $9. 03.
08Which pays a better dividend — ZH or HUYA or DOYU or JOYY or IQ?
In this comparison, DOYU (100.
0% yield), HUYA (56. 7% yield) pay a dividend. ZH, JOYY, IQ do not pay a meaningful dividend and should not be held primarily for income.
09Is ZH or HUYA or DOYU or JOYY or IQ better for a retirement portfolio?
For long-horizon retirement investors, DouYu International Holdings Limited (DOYU) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.
10), 100. 0% yield). Both have compounded well over 10 years (DOYU: -78. 8%, IQ: -92. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between ZH and HUYA and DOYU and JOYY and IQ?
Both stocks operate in the Communication Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: ZH is a small-cap quality compounder stock; HUYA is a small-cap income-oriented stock; DOYU is a small-cap income-oriented stock; JOYY is a small-cap quality compounder stock; IQ is a small-cap deep-value stock. HUYA, DOYU pay a dividend while ZH, JOYY, IQ do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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