Zhihu Inc. (ZH) quarterly balance sheet — complete assets, liabilities & equity history
Zhihu Inc. (ZH) balance sheet — 7-year assets, liabilities & shareholders' equity history
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 4.85B | 4.74B | 4.87B | 5.13B | 5.16B | 5.48B | 5.75B | 5.84B | 6.13B | 6.38B | 6.62B | 7.16B | 7.25B | 7.32B | 7.63B | 7.19B | 8.09B | 8.33B | 8.32B | 7.71B |
| Cash & Short-Term Investments | 4.32B | 4.24B | 4.37B | 4.61B | 4.56B | 4.86B | 5B | 5.01B | 5.22B | 5.46B | 5.65B | 6.16B | 6.26B | 6.26B | 6.62B | 5.85B | 6.84B | 7.21B | 6.77B | 5.75B |
| Cash Only | 2.93B | 3.37B | 2.73B | 3.2B | 3.24B | 4B | 3.21B | 3.16B | 2.19B | 2.11B | 3.13B | 4.03B | 4.17B | 4.53B | 3.4B | 2.25B | 2.39B | 2.16B | 1.47B | 884.54M |
| Short-Term Investments | 1.39B | 871.49M | 1.64B | 1.41B | 1.32B | 858.9M | 1.78B | 1.85B | 3.02B | 3.36B | 2.52B | 2.12B | 2.09B | 1.74B | 3.23B | 3.6B | 4.44B | 5.06B | 5.31B | 4.86B |
| Accounts Receivable | 424.42M | 412.21M | 350.1M | 377.54M | 471.73M | 496.17M | 493.79M | 574.16M | 669.5M | 678.19M | 637.09M | 761.11M | 777.48M | 859.05M | 772.82M | 871.45M | 850.5M | 988.96M | 717.81M | 602.93M |
| Days Sales Outstanding | 55.47 | 55.25 | 50.8 | 54.42 | 59.81 | 52.2 | 59.44 | 60.39 | 63.45 | 54.24 | 62.43 | 64.98 | 73.73 | 69.99 | 79.61 | 92.49 | 111.31 | 77.36 | 73.97 | 78.87 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22.19M | 0 | 0 | 0 | 10.35M | 0 | 0 | 0 | 125.17M | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | 4.48 | - | - | - | 2.04 | - | - | - | 21.44 | - | - |
| Other Current Assets | 111.33M | 78.93M | 149.78M | 138.37M | 135.55M | 6.99M | 259.62M | 253.11M | 239.81M | 122.39M | 330.76M | 239.67M | 215.09M | 92.61M | 32.56M | 469.26M | 404.22M | 161.64M | 833.15M | 1.37B |
| Total Non-Current Assets | 204.26M | 459.16M | 629.27M | 620.7M | 520.19M | 248.32M | 258.98M | 271.22M | 409.18M | 417.39M | 426.19M | 474.26M | 356.71M | 336.44M | 351.49M | 1.18B | 313.98M | 471M | 410.7M | 876.28M |
| Property, Plant & Equipment | 30.84M | 47.44M | 52.35M | 63.42M | 74.25M | 15.64M | 22.95M | 31.63M | 41.94M | 51.06M | 55.64M | 91.55M | 101.25M | 107.41M | 117.06M | 131.19M | 144.06M | 136.38M | 106.69M | 90.47M |
| Fixed Asset Turnover | 17.58x | 12.72x | 11.38x | 10.32x | 16.20x | 45.21x | 30.28x | 25.47x | 20.78x | 20.91x | 14.00x | 11.18x | 9.57x | 9.56x | 7.65x | 6.16x | 5.30x | 8.35x | 8.33x | 7.25x |
| Goodwill | 0 | 0 | 126.34M | 126.34M | 126.34M | 126.34M | 126.34M | 126.34M | 191.08M | 191.08M | 191.08M | 191.08M | 126.34M | 126.34M | 126.34M | 73.66M | 73.66M | 73.66M | 50.83M | 0 |
| Intangible Assets | 26.24M | 29.61M | 43.7M | 47.36M | 51.02M | 54.53M | 58.05M | 61.7M | 117.11M | 122.64M | 126.4M | 131.69M | 76.67M | 80.24M | 85.64M | 57.86M | 63.09M | 68.31M | 59.13M | 17.83M |
| Long-Term Investments | 137.81M | 368.71M | 400.26M | 375.37M | 260.17M | 51.18M | 51.18M | 51.18M | 51.18M | 44.62M | 30M | 30M | 30M | 0 | 0 | 898.29M | 19.05M | 178.52M | 181.59M | 762.29M |
| Other Non-Current Assets | 9.37M | 13.4M | 6.61M | 8.2M | 8.41M | 623K | 456K | 372K | 7.88M | 7.99M | 23.07M | 29.95M | 22.45M | 22.45M | 22.45M | 14.13M | 14.13M | 14.13M | 12.46M | 5.68M |
| Total Assets | 5.06B | 5.19B | 5.5B | 5.75B | 5.68B | 5.73B | 6.01B | 6.11B | 6.54B | 6.8B | 7.05B | 7.63B | 7.61B | 7.66B | 7.98B | 8.37B | 8.4B | 8.81B | 8.74B | 8.59B |
| Asset Turnover | 0.13x | 0.12x | 0.12x | 0.12x | 0.13x | 0.15x | 0.14x | 0.15x | 0.14x | 0.16x | 0.14x | 0.14x | 0.13x | 0.14x | 0.12x | 0.10x | 0.09x | 0.12x | 0.09x | 0.07x |
| Asset Growth % | -12.03% | -9.4% | -8.44% | -5.92% | -13.04% | -15.63% | -14.75% | -19.98% | -14.09% | -11.25% | -11.67% | -8.75% | -9.49% | -13.05% | -8.65% | -2.62% | -3.35% | 134.09% | 135.02% | - |
| Total Current Liabilities | 1.3B | 1.27B | 1.32B | 1.47B | 1.48B | 1.52B | 1.64B | 1.68B | 1.89B | 1.95B | 1.91B | 2.09B | 1.94B | 1.82B | 1.92B | 2.12B | 1.87B | 1.9B | 1.6B | 1.42B |
| Accounts Payable | 702.42M | 681.74M | 684.29M | 756.41M | 740.14M | 835.69M | 893.53M | 913.23M | 1.02B | 1.04B | 954.07M | 1.14B | 1B | 916.11M | 923M | 1.21B | 1.02B | 1.03B | 807.66M | 754.42M |
| Days Payables Outstanding | 213.46 | 213.32 | 259.6 | 255.85 | 255.05 | 245.96 | 278.72 | 232.85 | 223.54 | 201.05 | 201.45 | 195.58 | 178.19 | 181 | 201.79 | 230.13 | 226.13 | 157.1 | 180.72 | 235.34 |
| Short-Term Debt | 104.06M | 35M | 105.51M | 161.29M | 55.79M | 0 | 51.77M | 51.77M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 186.15M | 192.68M | 204.84M | 228.59M | 235.54M | 278.74M | 283.46M | 310.31M | 303.57M | 359.32M | 378.28M | 377.64M | 355.63M | 376.88M | 269.93M | 257.85M | 239.76M | 253.99M | 201.65M |
| Other Current Liabilities | 445.62M | 140.49M | 132.88M | 118.33M | 126.17M | 47.13M | 148.58M | 459.45M | 492.51M | 432.5M | 612.93M | 636.71M | 573.33M | 140.66M | 618.97M | 216.55M | 399.92M | 374.72M | 396.48M | 341.51M |
| Current Ratio | 3.73x | 3.73x | 3.69x | 3.48x | 3.49x | 3.60x | 3.51x | 3.48x | 3.24x | 3.28x | 3.46x | 3.42x | 3.73x | 4.01x | 3.98x | 3.40x | 4.32x | 4.39x | 5.19x | 5.42x |
| Quick Ratio | 3.73x | 3.73x | 3.69x | 3.48x | 3.49x | 3.60x | 3.51x | 3.48x | 3.24x | 3.27x | 3.46x | 3.42x | 3.73x | 4.01x | 3.98x | 3.40x | 4.32x | 4.33x | 5.19x | 5.42x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | -142.34 | - | - | - | -108.97 | - | - | - | -58.29 | - | - |
| Total Non-Current Liabilities | 17.68M | 47.45M | 59.11M | 65.69M | 44.86M | 12.61M | 25.06M | 28.35M | 136.03M | 148.17M | 154.79M | 197.55M | 133.8M | 137.13M | 144.88M | 164M | 170.02M | 169.3M | 118.26M | 52.67M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 5.22M | 15.6M | 20.35M | 27.35M | 34.79M | 1.82M | 2.63M | 2.07M | 2.86M | 3.64M | 3.66M | 19.76M | 33.62M | 43.37M | 54.15M | 66.85M | 80.26M | 82.13M | 62.23M | 52.67M |
| Deferred Tax Liabilities | 6.12M | 27.19M | 34.85M | 34.73M | 6.23M | 6.83M | 7.43M | 8.03M | 0 | 22.57M | 0 | 0 | 0 | 11.63M | 0 | 12.83M | 0 | 14.03M | 0 | 0 |
| Other Non-Current Liabilities | 6.34M | 4.65M | 3.92M | 3.6M | 3.83M | 3.96M | 15M | 18.25M | 133.17M | 121.96M | 151.13M | 177.79M | 100.18M | 82.13M | 90.74M | 84.32M | 89.76M | 73.14M | 56.03M | 0 |
| Total Liabilities | 1.32B | 1.32B | 1.38B | 1.54B | 1.52B | 1.54B | 1.66B | 1.71B | 2.03B | 2.09B | 2.07B | 2.29B | 2.08B | 1.96B | 2.06B | 2.28B | 2.04B | 2.07B | 1.72B | 1.48B |
| Total Debt | 127.22M | 72.02M | 150.71M | 229.59M | 128.16M | 19.13M | 70.44M | 78.68M | 36.59M | 45.73M | 51.44M | 80.78M | 94.25M | 96.56M | 105.49M | 118.44M | 132.6M | 40.52M | 91.73M | 77.03M |
| Net Debt | -2.8B | -3.3B | -2.58B | -2.97B | -3.11B | -3.98B | -3.14B | -3.08B | -2.16B | -2.06B | -3.08B | -3.95B | -4.08B | -4.43B | -3.29B | -2.13B | -2.26B | -2.12B | -1.38B | -807.51M |
| Debt / Equity | 0.03x | 0.02x | 0.04x | 0.05x | 0.03x | 0.00x | 0.02x | 0.02x | 0.01x | 0.01x | 0.01x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.01x | 0.01x | 0.01x |
| Debt / EBITDA | - | - | - | - | - | 0.23x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | -46.82x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 3.74B | 3.88B | 4.12B | 4.21B | 4.16B | 4.2B | 4.35B | 4.4B | 4.51B | 4.7B | 4.98B | 5.35B | 5.53B | 5.69B | 5.92B | 6.09B | 6.36B | 6.75B | 7.02B | 7.11B |
| Equity Growth % | -11.15% | -7.58% | -5.15% | -4.38% | -7.72% | -10.76% | -12.78% | -17.68% | -18.52% | -17.43% | -15.81% | -12.16% | -13.04% | -15.59% | -15.67% | -14.46% | -14.19% | 145.58% | 145.37% | - |
| Book Value per Share | 48.88 | 49.39 | 51.63 | 52.43 | 51.03 | 45.89 | 47.53 | 47.32 | 48.56 | 48.87 | 50.75 | 53.33 | 54.97 | 56.69 | 58.54 | 60.11 | 64.22 | 68.93 | 72.11 | 73.47 |
| Total Shareholders' Equity | 3.66B | 3.81B | 4.05B | 4.14B | 4.1B | 4.14B | 4.29B | 4.31B | 4.39B | 4.6B | 4.89B | 5.27B | 5.48B | 5.65B | 5.89B | 6.07B | 6.35B | 6.74B | 7.01B | 7.11B |
| Common Stock | 3.66B | 207K | 4.05B | 205K | 4.1B | 203K | 4.29B | 230K | 4.39B | 241K | 4.89B | 248K | 5.48B | 249K | 5.89B | 250K | 6.35B | 241K | 7.01B | 7.11B |
| Retained Earnings | 0 | -9.07B | 0 | -8.82B | 0 | -8.88B | 0 | -8.95B | 0 | -8.71B | 0 | -8.32B | 0 | -7.86B | 0 | -7.38B | 0 | -6.28B | 0 | 0 |
| Treasury Stock | 0 | -275.06M | 0 | -184.55M | 0 | -112.06M | 0 | -100.57M | 0 | -161.64M | 0 | -69.8M | 0 | -33.81M | 0 | -7.07M | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | -33.03M | 0 | 3.91M | 0 | 12.82M | 0 | -6.07M | 0 | -17.87M | 0 | 28.63M | 5.65B | -65.81M | 0 | -178.14M | 0 | -339.12M | 0 | 0 |
| Minority Interest | 73.89M | 70.95M | 69.67M | 66.35M | 62.92M | 59.56M | 56.01M | 87.91M | 114.24M | 101.8M | 87.74M | 74.09M | 52.07M | 40.57M | 31.29M | 15.69M | 11.59M | 7.5M | 3.4M | 0 |