Zhihu Inc. (ZH) Quarterly Cash Flow Statement

120+ quarters historyFree accessUpdated daily

Zhihu Inc. (ZH) quarterly cash flow statement — complete operating, investing & financing history

Metric	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	Q1'21

Cash from Operations	-415.53M	0	0	0	0	0	0	0	0	0	52.45M	55.92M	42.55M	44.85M	41.44M	0	0	0	0	0
Operating CF Margin %	-65.48%	-	-	-	-	-	-	-	-	-	4.87%	5.6%	3.97%	4.72%	4.89%	-	-	-	-	-
Operating CF Growth %	-	-	-	-	-	-	-100%	-100%	-100%	-100%	26.57%	-	-	-	-	-	-100%	-	-	-
Net Income	-855.26M	-46.66M	72.48M	-10.09M	86.27M	-10.49M	-82.74M	-164.85M	-103.77M	-278.67M	-279.84M	-181.35M	-179.68M	-300.18M	-487.02M	-614.28M	-383.29M	-269.81M	-321.08M	-324.69M
Depreciation & Amortization	24.89M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation	111.67M	22.85M	15.97M	14.16M	7.78M	-6.97M	32.64M	25.81M	7.5M	48.79M	52.45M	54.18M	42.55M	44.85M	41.44M	245.07M	140.7M	155.89M	120.75M	131.13M
Deferred Taxes	-3.81M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	66.69M	23.8M	-88.45M	-4.06M	-94.05M	17.46M	50.1M	164.85M	96.27M	229.88M	227.39M	181.35M	137.13M	255.33M	445.58M	369.22M	242.59M	113.92M	200.34M	193.57M
Working Capital Changes	240.28M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change in Receivables	64.41M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change in Payables	220.24M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash from Investing	-1.68B	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Expenditures	-8.49M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
CapEx % of Revenue	1.34%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions	-63.59M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Investing	-381K	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash from Financing	-365.06M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debt Issued (Net)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Equity Issued (Net)	-365.06M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-369.57M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Financing	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Change in Cash	2.11B	0	0	0	0	0	0	0	0	-992.08M	-414.27M	-315.53M	1.32B	794.26M	41.44M	0	0	0	0	0
Free Cash Flow	-424.4M	0	0	0	0	0	0	0	0	0	52.45M	55.92M	42.55M	44.85M	41.44M	0	0	0	0	0
FCF Margin %	-66.87%	-	-	-	-	-	-	-	-	-	4.87%	5.6%	3.97%	4.72%	4.89%	-	-	-	-	-
FCF Growth %	-	-	-	-	-	-	-100%	-100%	-100%	-100%	26.57%	-	-	-	-	-	-100%	-	-	-
FCF per Share	-5.41	-	-	-	-	-	-	-	-	-	0.52	0.56	0.42	0.44	0.41	-	-	-	-	-
FCF Conversion (FCF/Net Income)	2.02x	-	-	-	-	-	-	-	-	-	-0.18x	-0.31x	-0.25x	-0.14x	-0.08x	-	-	-	-	-
Interest Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Taxes Paid	11.14M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Zhihu Inc. (ZH) Quarterly Cash Flow Statement

120+ quarters historyFree accessUpdated daily

Zhihu Inc. (ZH) quarterly cash flow statement — complete operating, investing & financing history

Annual Quarterly

Metric	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	Q1'21

Cash from Operations	-415.53M	0	0	0	0	0	0	0	0	0	52.45M	55.92M	42.55M	44.85M	41.44M	0	0	0	0	0
Operating CF Margin %	-65.48%	-	-	-	-	-	-	-	-	-	4.87%	5.6%	3.97%	4.72%	4.89%	-	-	-	-	-
Operating CF Growth %	-	-	-	-	-	-	-100%	-100%	-100%	-100%	26.57%	-	-	-	-	-	-100%	-	-	-
Net Income	-855.26M	-46.66M	72.48M	-10.09M	86.27M	-10.49M	-82.74M	-164.85M	-103.77M	-278.67M	-279.84M	-181.35M	-179.68M	-300.18M	-487.02M	-614.28M	-383.29M	-269.81M	-321.08M	-324.69M
Depreciation & Amortization	24.89M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation	111.67M	22.85M	15.97M	14.16M	7.78M	-6.97M	32.64M	25.81M	7.5M	48.79M	52.45M	54.18M	42.55M	44.85M	41.44M	245.07M	140.7M	155.89M	120.75M	131.13M
Deferred Taxes	-3.81M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	66.69M	23.8M	-88.45M	-4.06M	-94.05M	17.46M	50.1M	164.85M	96.27M	229.88M	227.39M	181.35M	137.13M	255.33M	445.58M	369.22M	242.59M	113.92M	200.34M	193.57M
Working Capital Changes	240.28M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change in Receivables	64.41M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change in Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change in Payables	220.24M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash from Investing	-1.68B	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Expenditures	-8.49M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
CapEx % of Revenue	1.34%	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions	-63.59M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Investing	-381K	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash from Financing	-365.06M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debt Issued (Net)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Equity Issued (Net)	-365.06M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-369.57M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Financing	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Change in Cash	2.11B	0	0	0	0	0	0	0	0	-992.08M	-414.27M	-315.53M	1.32B	794.26M	41.44M	0	0	0	0	0
Free Cash Flow	-424.4M	0	0	0	0	0	0	0	0	0	52.45M	55.92M	42.55M	44.85M	41.44M	0	0	0	0	0
FCF Margin %	-66.87%	-	-	-	-	-	-	-	-	-	4.87%	5.6%	3.97%	4.72%	4.89%	-	-	-	-	-
FCF Growth %	-	-	-	-	-	-	-100%	-100%	-100%	-100%	26.57%	-	-	-	-	-	-100%	-	-	-
FCF per Share	-5.41	-	-	-	-	-	-	-	-	-	0.52	0.56	0.42	0.44	0.41	-	-	-	-	-
FCF Conversion (FCF/Net Income)	2.02x	-	-	-	-	-	-	-	-	-	-0.18x	-0.31x	-0.25x	-0.14x	-0.08x	-	-	-	-	-
Interest Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Taxes Paid	11.14M	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

ZH Cash Flow Statement

ZH Cash Flow Statement