ZH
Zhihu Inc.
Internet Content & Information
Market Cap$301M
5Y Perf.-93.2%
Compare Stocks
2 / 10Try these comparisons:
Stock Comparison
ZH vs JOYY
Revenue, margins, valuation, and 5-year total return — side by side.
JOYY
JOYY, Inc. Sponsored ADR Class A
Internet Content & Information
Market Cap$3.24B
5Y Perf.-35.7%
ZH vs JOYY — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ZH | JOYY |
|---|---|---|
| Industry | Internet Content & Information | Internet Content & Information |
| Market Cap | $301M | $3.24B |
| Revenue (TTM) | $2.97B | $2.24B |
| Net Income (TTM) | $103M | $-146M |
| Gross Margin | 62.2% | 36.0% |
| Operating Margin | -7.8% | -18.1% |
| Forward P/E | — | 1.7x |
| Total Debt | $19M | $31M |
| Cash & Equiv. | $4.00B | $445M |
ZH vs JOYY — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
ZH
JOYY
| Stock | Mar 21 | May 26 | Return |
|---|---|---|---|
| Zhihu Inc. (ZH) | 100 | 6.8 | -93.2% |
| JOYY, Inc. Sponsore… (JOYY) | 100 | 64.3 | -35.7% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ZH vs JOYY
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: JOYY leads in 3 of 6 categories, making it the strongest pick for growth and revenue expansion and capital preservation and lower volatility. Zhihu Inc. is the stronger pick specifically for profitability and margin quality and operational efficiency and capital deployment. As sector peers, any of these can serve as alternatives in the same allocation.
ZH
Zhihu Inc.
The Growth Play
ZH is the clearest fit if your priority is growth exposure and sleep-well-at-night.
- Rev growth -13.1%, EPS growth 77.7%, 3Y rev CAGR 7.7%
- Lower volatility, beta 1.28, Low D/E 0.5%, current ratio 3.60x
- 3.5% margin vs JOYY's -6.5%
Best for: growth exposure and sleep-well-at-night
JOYY
JOYY, Inc. Sponsored ADR Class A
The Income Pick
JOYY carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 0 yrs, beta 0.64
- 28.8% 10Y total return vs ZH's -93.5%
- Beta 0.64, current ratio 0.96x
Best for: income & stability and long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | JOYY | -1.3% revenue growth vs ZH's -13.1% |
| Quality / Margins | ZH | 3.5% margin vs JOYY's -6.5% |
| Stability / Safety | JOYY | Beta 0.64 vs ZH's 1.28 |
| Dividends | Tie | Neither stock pays a meaningful dividend |
| Momentum (1Y) | JOYY | +55.5% vs ZH's -19.8% |
| Efficiency (ROA) | ZH | 1.9% ROA vs JOYY's -1.8%, ROIC -25.6% vs -6.7% |
ZH vs JOYY — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2024
ZH vs JOYY — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLZHLAGGINGJOYY
JOYYJOYY, Inc. Sponsored …
2leads
ZHZhihu Inc.
3leads
6 Total Categories
CATEGORYLEADERvs JOYYMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
ZH4/6
Valuation MetricsMultiples, price ratios, and targets
ZH2/3
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
ZH5/7
Total Returns1Y, 3Y, 5Y total returns with dividends
JOYY6/6
Risk & VolatilityBeta, volatility, and downside exposure
JOYY2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
ZH leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
ZH and JOYY operate at a comparable scale, with $3.0B and $2.2B in trailing revenue. ZH is the more profitable business, keeping 3.5% of every revenue dollar as net income compared to JOYY's -6.5%. On growth, JOYY holds the edge at -3.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ZHZhihu Inc. | JOYYJOYY, Inc. Sponso… |
|---|---|---|
| RevenueTrailing 12 months | $3.0B | $2.2B |
| EBITDAEarnings before interest/tax | -$148M | -$317M |
| Net IncomeAfter-tax profit | $103M | -$146M |
| Free Cash FlowCash after capex | $0 | $0 |
| Gross MarginGross profit ÷ Revenue | +62.2% | +36.0% |
| Operating MarginEBIT ÷ Revenue | -7.8% | -18.1% |
| Net MarginNet income ÷ Revenue | +3.5% | -6.5% |
| FCF MarginFCF ÷ Revenue | -7.8% | +10.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | -20.3% | -3.6% |
| EPS Growth (YoY)Latest quarter vs prior year | -4.2% | -9.2% |
ZH leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
ZH leads this category, winning 2 of 3 comparable metrics.
Valuation Metrics
| Metric | ZHZhihu Inc. | JOYYJOYY, Inc. Sponso… |
|---|---|---|
| Market CapShares × price | $301M | $3.2B |
| Enterprise ValueMkt cap + debt − cash | -$283M | $2.8B |
| Trailing P/EPrice ÷ TTM EPS | -11.87x | -23.18x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 1.65x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | 0.56x | 1.45x |
| Price / BookPrice ÷ Book value/share | 0.49x | 0.73x |
| Price / FCFMarket cap ÷ FCF | — | 14.45x |
ZH leads this category, winning 2 of 3 comparable metrics.
Profitability & Efficiency
ZH leads this category, winning 5 of 7 comparable metrics.
Profitability & Efficiency
ZH delivers a 2.5% return on equity — every $100 of shareholder capital generates $2 in annual profit, vs $-3 for JOYY. ZH carries lower financial leverage with a 0.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to JOYY's 0.01x.
| Metric | ZHZhihu Inc. | JOYYJOYY, Inc. Sponso… |
|---|---|---|
| ROE (TTM)Return on equity | +2.5% | -2.8% |
| ROA (TTM)Return on assets | +1.9% | -1.8% |
| ROICReturn on invested capital | -25.6% | -6.7% |
| ROCEReturn on capital employed | -10.8% | -7.9% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 6 |
| Debt / EquityFinancial leverage | 0.00x | 0.01x |
| Net DebtTotal debt minus cash | -$4.0B | -$414M |
| Cash & Equiv.Liquid assets | $4.0B | $445M |
| Total DebtShort + long-term debt | $19M | $31M |
| Interest CoverageEBIT ÷ Interest expense | — | 30.37x |
ZH leads this category, winning 5 of 7 comparable metrics.
Total Returns (Dividends Reinvested)
JOYY leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in JOYY five years ago would be worth $8,174 today (with dividends reinvested), compared to $683 for ZH. Over the past 12 months, JOYY leads with a +55.5% total return vs ZH's -19.8%. The 3-year compound annual growth rate (CAGR) favors JOYY at 31.5% vs ZH's -19.5% — a key indicator of consistent wealth creation.
| Metric | ZHZhihu Inc. | JOYYJOYY, Inc. Sponso… |
|---|---|---|
| YTD ReturnYear-to-date | -1.2% | -1.1% |
| 1-Year ReturnPast 12 months | -19.8% | +55.5% |
| 3-Year ReturnCumulative with dividends | -47.8% | +127.3% |
| 5-Year ReturnCumulative with dividends | -93.2% | -18.3% |
| 10-Year ReturnCumulative with dividends | -93.5% | +28.8% |
| CAGR (3Y)Annualised 3-year return | -19.5% | +31.5% |
JOYY leads this category, winning 6 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 ZH's 1.28 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JOYY currently trades 84.9% from its 52-week high vs ZH's 59.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ZHZhihu Inc. | JOYYJOYY, Inc. Sponso… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.28x | 0.64x |
| 52-Week HighHighest price in past year | $5.55 | $70.96 |
| 52-Week LowLowest price in past year | $2.57 | $41.02 |
| % of 52W HighCurrent price vs 52-week peak | +59.3% | +84.9% |
| RSI (14)Momentum oscillator 0–100 | 47.5 | 45.8 |
| Avg Volume (50D)Average daily shares traded | 445K | 280K |
JOYY leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates ZH as "Buy" and JOYY as "Buy".
| Metric | ZHZhihu Inc. | JOYYJOYY, Inc. Sponso… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | — | $66.00 |
| # AnalystsCovering analysts | 8 | 5 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | 0 |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +19.5% | +8.0% |
Insufficient data to determine a leader in this category.
Key Takeaway
ZH leads in 3 of 6 categories (Income & Cash Flow, Valuation Metrics). JOYY leads in 2 (Total Returns, Risk & Volatility).
Best OverallZhihu Inc. (ZH)Leads 3 of 6 categories
Loading custom metrics...
ZH vs JOYY: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is ZH or JOYY 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 -13. 1% for Zhihu Inc. (ZH). 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 is the better long-term investment — ZH or JOYY?
Over the past 5 years, JOYY, Inc.
Sponsored ADR Class A (JOYY) delivered a total return of -18. 3%, compared to -93. 2% for Zhihu Inc. (ZH). Over 10 years, the gap is even starker: JOYY returned +28. 8% versus ZH's -93. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — ZH or JOYY?
By beta (market sensitivity over 5 years), JOYY, Inc.
Sponsored ADR Class A (JOYY) is the lower-risk stock at 0. 64β versus Zhihu Inc. 's 1. 28β — meaning ZH is approximately 98% more volatile than JOYY relative to the S&P 500. On balance sheet safety, Zhihu Inc. (ZH) carries a lower debt/equity ratio of 0% versus 1% for JOYY, Inc. Sponsored ADR Class A — giving it more financial flexibility in a downturn.
04Which is growing faster — ZH or JOYY?
By revenue growth (latest reported year), JOYY, Inc.
Sponsored ADR Class A (JOYY) is pulling ahead at -1. 3% versus -13. 1% for Zhihu Inc. (ZH). On earnings-per-share growth, the picture is similar: Zhihu Inc. grew EPS 77. 7% year-over-year, compared to -154. 2% for JOYY, Inc. Sponsored ADR Class A. 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.
05Which has better profit margins — ZH or JOYY?
Zhihu Inc.
(ZH) is the more profitable company, earning -4. 8% net margin versus -6. 5% for JOYY, Inc. Sponsored ADR Class A — meaning it keeps -4. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ZH leads at -13. 4% 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.
06Which pays a better dividend — ZH or JOYY?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
07Is ZH or JOYY better for a retirement portfolio?
For long-horizon retirement investors, JOYY, Inc.
Sponsored ADR Class A (JOYY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 64)). Both have compounded well over 10 years (JOYY: +28. 8%, ZH: -93. 5%), 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.
08What are the main differences between ZH and JOYY?
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.
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.
Find Stocks Like These
Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that outperform both.
Revenue Growth>
%
(ZH: -20.3% · JOYY: -3.6%)You Might Also Compare
Based on how these companies actually compete and overlap — not just which sector they're filed under.