Kanzhun maintains a conservative capital structure with a negligible debt-to-equity ratio of 0.01 and a substantial $4.1 billion cash position as of 2025Q4.
| Total Current Assets | 20.37B | 15.1B | 13.37B | 13.83B | 12.96B | 4.75B | 1.71B |
| Cash & Short-Term Investments | 19.96B | 14.68B | 12.91B | 13.21B | 12.23B | 4.57B | 1.55B |
| Cash Only | 4.11B | 2.55B | 2.47B | 9.75B | 11.34B | 4B | 407.36M |
| Short-Term Investments | 15.85B | 12.13B | 10.44B | 3.46B | 885M | 536.4M | 1.14B |
| Accounts Receivable | 186.39M | 205M | 16.73M | 9.86M | 411.67M | 121.92M | 75.54M |
| Days Sales Outstanding | 8.23 | 10.17 | 1.03 | 0.8 | 35.28 | 22.89 | 27.61 |
| Inventory | 2.4M | 3.04M | 206.19M | 279.99M | 0 | 0 | 82.66M |
| Days Inventory Outstanding | 0.71 | 0.9 | 71.01 | 135.39 | - | - | 218.93 |
| Other Current Assets | 221.45M | 32M | 34.28M | 1.58M | -620.98M | -188K | -82.44M |
| Total Non-Current Assets | 4.22B | 4.21B | 4.57B | 1B | 682.67M | 335.97M | 171.21M |
| Property, Plant & Equipment | 1.41B | 2.04B | 2.08B | 980.66M | 678.21M | 335.42M | 170.57M |
| Fixed Asset Turnover | 5.87x | 3.61x | 2.87x | 4.60x | 6.28x | 5.80x | 5.86x |
| Goodwill | 6.53M | 6.53M | 5.69M | 5.69M | 0 | 0 | 0 |
| Intangible Assets | 100.91M | 252.59M | 8.09M | 10.25M | 458K | 549K | 640K |
| Long-Term Investments | 1.9B | 1.91B | 2.47B | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 782.96M | 1 | 4M | 4M | 4M | 0 | 0 |
| Total Assets | 24.58B | 19.31B | 17.94B | 14.83B | 13.64B | 5.08B | 1.88B |
| Asset Turnover | 0.34x | 0.38x | 0.33x | 0.30x | 0.31x | 0.38x | 0.53x |
| Asset Growth % | 27.31% | 7.64% | 21% | 8.69% | 168.36% | 170.53% | - |
| Total Current Liabilities | 4.37B | 4.19B | 4.36B | 3.03B | 2.78B | 1.72B | 1.01B |
| Accounts Payable | 120.04M | 110.67M | 629.22M | 185.3M | 32.98M | 19.51M | 42.62M |
| Days Payables Outstanding | 35.47 | 32.58 | 216.69 | 89.6 | 21.7 | 29.65 | 112.87 |
| Short-Term Debt | 94.08M | 0 | 0 | 0 | 0 | -395.56M | 0 |
| Deferred Revenue (Current) | 3.24B | 3.17B | 2.87B | 2.12B | 2B | 1.23B | 629.28M |
| Other Current Liabilities | 324.9M | 240.19M | 0 | 0 | -403.93M | 135.44M | 0 |
| Current Ratio | 4.66x | 3.60x | 3.07x | 4.56x | 4.65x | 2.76x | 1.69x |
| Quick Ratio | 4.66x | 3.60x | 3.02x | 4.47x | 4.65x | 2.76x | 1.61x |
| Cash Conversion Cycle | -26.54 | -21.52 | -144.66 | 46.59 | - | - | 133.67 |
| Total Non-Current Liabilities | 115.79M | 155.8M | 153.5M | 155M | 183.37M | 5.66B | 2.53B |
| Long-Term Debt | 0 | 0 | 0 | 143.59M | 183.37M | 0 | 0 |
| Capital Lease Obligations | 64.07M | 121.34M | 125.08M | 143.59M | 183.37M | 76.37M | 37.66M |
| Deferred Tax Liabilities | 51.72M | 0 | 28.43M | 11.4M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 34.45M | 28.43M | -143.59M | -183.37M | 5.59B | 2.49B |
| Total Liabilities | 4.49B | 4.35B | 4.51B | 3.19B | 2.97B | 7.38B | 3.54B |
| Total Debt | 158.14M | 302.13M | 280.09M | 295.03M | 310.9M | 135.93M | 94.88M |
| Net Debt | -3.95B | -2.25B | -2.19B | -9.46B | -11.03B | -3.86B | -312.48M |
| Debt / Equity | 0.01x | 0.02x | 0.02x | 0.03x | 0.03x | - | - |
| Debt / EBITDA | 0.05x | 0.16x | 0.28x | 1.87x | - | - | - |
| Net Debt / EBITDA | -1.20x | -1.21x | -2.17x | -59.90x | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - |
| Total Equity | 20.09B | 14.96B | 13.43B | 11.64B | 10.67B | -2.3B | -1.66B |
| Equity Growth % | 34.29% | 11.42% | 15.36% | 9.06% | 564.07% | -38.48% | - |
| Book Value per Share | 43.35 | 33.15 | 29.75 | 25.52 | 23.82 | -5.02 | -3.62 |
| Total Shareholders' Equity | 20.09B | 14.87B | 13.43B | 11.64B | 10.67B | -2.3B | -1.66B |
| Common Stock | 618K | 571K | 564K | 564K | 554K | 81K | 62K |
| Retained Earnings | 1.22B | -902.59M | -2.49B | -3.59B | -3.69B | -2.62B | -1.68B |
| Treasury Stock | -203.99M | -1.52B | -479.73M | -918.89M | 0 | 0 | 0 |
| Accumulated OCI | 894.82M | 1.05B | 898.81M | 695.18M | -257.76M | -130.39M | 19.15M |
| Minority Interest | 50.26M | 95.45M | -9K | 0 | 0 | 0 | 0 |
Macroeconomic and Regulatory Exposure
As reported in financial statements, Kanzhun's total equity has expanded from $13.4 billion in 2023Q4 to $20.1 billion by 2025Q4, signaling a robust strengthening of the balance sheet driven by consistent earnings retention and a transition toward a more mature, self-sustaining financial position within the Chinese market.
The consistent growth in equity suggests that the company is successfully converting its operational success into tangible balance sheet strength. This trajectory implies that the business is increasingly resilient to external shocks, providing management with significant flexibility for future capital allocation or strategic defensive maneuvers.
Based on reported figures, Kanzhun maintains a negligible debt-to-equity ratio of 0.01 as of 2025Q4, with total debt declining from $302.1 million in 2024Q4 to $158.1 million, indicating that the company relies almost exclusively on internally generated cash flow rather than external financing to fund its operations.
The minimal reliance on debt suggests that the company faces virtually no refinancing risk, which is a significant advantage in the current volatile interest rate environment. Investors should interpret this low leverage as a sign of management's preference for financial independence, though it may also imply a lack of aggressive capital deployment.
According to recent SEC filings, Kanzhun's cash position has surged to $4.1 billion as of 2025Q4, supporting a healthy current ratio of 4.66, which provides a massive liquidity buffer against potential regulatory or macroeconomic downturns that could impact the domestic Chinese labor market's hiring velocity.
The high liquidity position appears to be a strategic choice, potentially serving as a war chest for market consolidation or as a hedge against regulatory uncertainty. While this cash pile bolsters the company's safety profile, it also raises questions regarding the efficiency of capital deployment and the potential for future shareholder returns.
As indicated by the company's financial disclosures, deferred revenue has grown to $3.2 billion in 2025Q4, reflecting a steady pipeline of prepaid enterprise service contracts that provides a degree of predictability to future revenue recognition despite broader economic headwinds in the Chinese recruitment sector.
The stability of the deferred revenue balance suggests that enterprise customers remain committed to the platform's ecosystem, even as the broader macroeconomic environment slows. This metric serves as a vital leading indicator, implying that the company's core monetization model remains intact despite the deceleration in top-line growth.
Quick answers to the most common questions about buying BZ stock.
As of 2025, Kanzhun Limited (BZ) had total assets of $24.58B including $20.37B in current assets.
Kanzhun Limited (BZ) carries total debt of $158.1M, offset by $19.96B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Kanzhun Limited (BZ) has total shareholders' equity (book value) of $20.09B ($43.35 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Kanzhun Limited (BZ) reported a current ratio of 4.66x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.