Zhihu Inc. (ZH) P/E Ratio History
Historical price-to-earnings valuation from 2025 to 2025
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ZH Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 8, 2026, Zhihu Inc. (ZH) trades at a price-to-earnings ratio of -12.2x, with a stock price of $3.39 and trailing twelve-month earnings per share of $1.29.
The current P/E is 444% below its 5-year average of 3.6x. Over the past five years, ZH's P/E has ranged from a low of 2.5x to a high of 4.6x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Communication Services sector median P/E of 15.4x, ZH trades at a 179% discount to its sector peers. The sector includes 108 companies with P/E ratios ranging from 0.1x to 179.7x.
Relative to the broader market, ZH trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our ZH DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
ZH P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $2B | 9.3 | - | -17% | |
| $49B | 14.4 | 0.24 | +20% | |
| $1B | 7.3 | - | -19% | |
| $1B | 10.7 | - | -61% | |
| $4B | 2.1Lowest | 0.11Best | +61% | |
| $340B | 17.9 | - | +71%Best |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
ZH Historical P/E Data (2025–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q3 | $5.07 | $1.11 | 4.6x | +29% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $3.98 | $1.57 | 2.5x | -29% |
Average P/E for displayed period: 3.6x
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Start ComparisonZH — Frequently Asked Questions
Quick answers to the most common questions about buying ZH stock.
Is ZH stock overvalued or undervalued?
ZH trades at -12.2x P/E, below its 5-year average of 3.6x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does ZH's valuation compare to peers?
Zhihu Inc. P/E of -12.2x compares to sector median of 15.4x. The discount suggests lower growth expectations or higher risk.
What is ZH's PEG ratio?
ZH PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2025-2025.