Zhihu (ZH) Cost of Revenue (2020 - 2025)
Zhihu (ZH) posted Cost of Revenue of $42.1 billion for Q4 2025, up 118072102.83% sequentially from $35668.3 in Q3 2025, and up 94965932.62% YoY from N/an in Q4 2024.
Zhihu (ZH) Cost of Revenue (2020 - 2025) Analysis & Trends
Zhihu has reported Cost of Revenue for 6 years, with the latest figure at $42.1 billion in Q4 2025.
- Quarterly Cost of Revenue rose 94965932.62% year-over-year to $42.1 billion in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $79.7 billion (up 51896.34% YoY) and the FY2025 annual result came in at $157.5 million, down 18.94% from the prior year.
- Cost of Revenue grew to $42.1 billion in Q4 2025 per ZH's latest filing, from $35668.3 in the prior quarter.
- Over five years, Cost of Revenue peaked at $42.1 billion in Q4 2025 and troughed at $35668.3 in Q3 2025.
- A 5-year average of $4.0 billion and a median of $64.6 million in 2022 frame the typical range for Cost of Revenue.
- The sharpest annual moves came in 2024 and 2025: Cost of Revenue slumped 99.93% in 2024, then soared 94965932.62% in 2025.
- Over 5 years, Cost of Revenue stood at $84.6 million in 2021, then declined by 19.36% to $68.3 million in 2022, then slipped by 4.0% to $65.5 million in 2023, then slumped by 99.93% to $44346.7 in 2024, then jumped by 94965932.62% to $42.1 billion in 2025.
- According to Business Quant data, Cost of Revenue over the past three periods registered $42.1 billion, $35668.3, and $37.5 billion for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,165.61 Bn | 3,736.57 Bn | 73.85 Bn | 45.94 Bn |
| 2 | Meta Platforms | 1,523.46 Bn | 1,433.20 Bn | 49.47 Bn | 11.33 Bn |
| 3 | Taboola.com | 1,141.85 Bn | 1,141.71 Bn | 139.48 Mn | 337.35 Mn |
| 4 | Baidu | 288.34 Bn | 283.85 Bn | 1.88 Mn | 2.84 Bn |
| 5 | Spotify Technology | 103.44 Bn | 93.20 Bn | 1.75 Bn | 3.56 Bn |
| 6 | Joyy | 77.39 Bn | 76.50 Bn | 205.64 Mn | 376.28 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 131,586.00 |
| 8 | Nebius | 50.20 Bn | 40.57 Bn | 295.20 Mn | 103.80 Mn |
| 9 | 30.00 Bn | 27.22 Bn | 734.60 Mn | 70.31 Mn | |
| 10 | Zhihu | 795.74 Mn | 320.56 Mn | 49.31 Bn | 42.11 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 42.11 Bn |
| Dec 31, 2025 | 42.11 Bn |
| Sep 30, 2025 | 35,668.30 |
| Sep 30, 2025 | 35,668.30 |
| Jun 30, 2025 | 37.51 Bn |
| Jun 30, 2025 | 37.51 Bn |
| Mar 31, 2025 | 38.39 Mn |
| Mar 31, 2025 | 38.39 Mn |
| Dec 31, 2024 | 44,346.75 |
| Dec 31, 2024 | 44,346.75 |
| Sep 30, 2024 | 43.45 Mn |
| Sep 30, 2024 | 43.45 Mn |
| Jun 30, 2024 | 51.91 Mn |
| Jun 30, 2024 | 51.91 Mn |
| Mar 31, 2024 | 57.81 Mn |
| Mar 31, 2024 | 57.81 Mn |
| Dec 31, 2023 | 65.52 Mn |
| Dec 31, 2023 | 65.52 Mn |
| Sep 30, 2023 | 64.93 Mn |
| Sep 30, 2023 | 64.93 Mn |