Zhihu Inc. (ZH) Earnings History
Net Loss7 years of earnings data (2019–2025) · Currently unprofitable on a TTM basis
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Zhihu Inc. (ZH) Earnings Overview
As of June 21, 2026, Zhihu Inc. (ZH) reported trailing twelve-month net income of -$191M, reflecting -25.4% year-over-year growth. The company earned $-2.43 per diluted share over the past four quarters, with a net profit margin of -7.0%.
Looking at the long-term picture, ZH's historical earnings data spans multiple years. The company achieved its highest annual net income of -$174M in fiscal 2024.
Zhihu Inc. is currently reporting a net loss, though operating performance should be evaluated in the context of growth investments and industry dynamics View revenue history →
Compared to peers including MOMO ($737M net income, 7.8% margin), JOYY (-$146M net income, 98.8% margin), DOYU (-$202M net income, -0.8% margin), ZH has room to improve margins relative to the peer group. Compare ZH vs MOMO →
ZH Earnings vs Peers
Earnings metrics vs comparable public companies
ZH Historical Earnings Data (2019–2025)
7 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | -$188M | -7.7% | -$371M | $-2.37 | -7.0% | -13.9% |
| 2024 | -$174M | +79.3% | -$488M | $-1.89 | -4.8% | -13.4% |
| 2023 | -$844M | +47.6% | -$1.07B | $-8.47 | -20.1% | -25.5% |
| 2022 | -$1.61B | -25.5% | -$1.63B | $-15.68 | -43.9% | -44.5% |
| 2021 | -$1.28B | -162.0% | -$1.37B | $-18.35 | -43.9% | -47.0% |
| 2020 | -$489M | +51.1% | -$570M | $-12.85 | -38.3% | -44.6% |
| 2019 | -$1.00B | - | -$1.06B | $-10.12 | -149.8% | -157.9% |
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Intrinsic Valuation
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ZH — Frequently Asked Questions
Quick answers to the most common questions about buying ZH stock.
What is ZH earnings per share (EPS)?
ZH trailing twelve-month (TTM) diluted EPS is $-2.43, reflecting -25.4% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 2019 to 2025 is available in the table on this page.
What is Zhihu Inc.'s net income?
Zhihu Inc. (ZH) trailing twelve-month net income is $-191M as of 2025. Earnings declined -25.4% year-over-year.
Is ZH profitable?
ZH is not currently profitable on a TTM basis, reporting a net loss of $-191M. Net margin is -7.0%. Investors should monitor for a return to profitability.
What is ZH's earnings growth rate?
ZH compound annual EPS growth rates (CAGR): 1-Year: N/A, 3-Year: N/A, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2019 to 2025.
What are ZH's profit margins?
Zhihu Inc. net profit margin is -7.0%, operating margin is -13.9%, and gross margin is +59.9%. Below-average margins reflect competitive or cost pressures. Return on Equity is -4.6%.
Is ZH growing earnings?
ZH earnings are declining — EPS fell -25.4% year-over-year. TTM net income dropped to $-191M. This contrasts with the 5-year CAGR of N/A.
What was ZH's best earnings year?
Zhihu Inc.'s highest annual net income on record is $-174M, achieved in fiscal year 2024. Earnings history on this page spans 2019 to 2025 and includes all annual and quarterly figures.
What were ZH's earnings last quarter?
ZH's most recent reported quarter was Q4 2025. Net income was $-206M with diluted EPS of $-2.58. For a full breakdown of all quarters, see the quarterly earnings table on this page.