Zhihu (ZH) EBT Margin (2020 - 2026)
Zhihu (ZH) recorded EBT Margin of -5.91% in the quarter ended Jun 30, 2026, down 20.02 percentage points from 14.11% a year earlier and down 4.85 percentage points from the prior quarter.
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Analysis
Zhihu (ZH) EBT Margin (2020 - 2026) Analysis & Trends
On a TTM basis, Zhihu's EBT Margin came in at -11.74% as of Jun 30, 2026, down 16.92 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at -6.31%, down 1.35 percentage points from the prior year.
- Annual EBT Margin has a five-year change of +31.88 percentage points (years ended Dec 2020 to Dec 2025).
- Across earlier years, EBT Margin came in at -4.96% in the year ended Dec 31, 2024 (+14.76 pp), -19.71% in the year ended Dec 31, 2023 (+23.68 pp), -43.39% in the year ended Dec 31, 2022 (+0.32 pp) and -43.71% in the year ended Dec 31, 2021 (-5.51 pp).
- Quarterly EBT Margin has ranged from -82.33% in the quarter ended Mar 31, 2022 to 14.11% in the quarter ended Jun 30, 2025 over the past five years.
- On a year-over-year basis, EBT Margin rose in five of the last eight quarters, with an average year-over-year change of -0.34 percentage points.
- Peak year-over-year performance for EBT Margin in the last five years was a gain of 64.81 percentage points in the quarter ended Mar 31, 2023, against a drop of 43.69 percentage points in the quarter ended Dec 31, 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at -1.06% (quarter ended Mar 31, 2026), -33.94% (quarter ended Dec 31, 2025) and -6.97% (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,142.52 Bn | 3,900.05 Bn | 73.85 Bn | 115.82% |
| 2 | Meta Platforms | 1,882.44 Bn | 1,584.96 Bn | 49.47 Bn | 30.85% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 32.39% |
| 4 | Alibaba Group Holding | 250.25 Bn | 68.12 Bn | 15.11 Bn | 14.55% |
| 5 | Shopify | 192.03 Bn | 169.21 Bn | 1.71 Bn | 49.54% |
| 6 | Uber Technologies | 141.56 Bn | 113.53 Bn | 6.38 Bn | 23.09% |
| 7 | Booking Holdings | 121.98 Bn | 55.03 Bn | - | 34.82% |
| 8 | PDD Holdings | 110.31 Bn | -141.62 Bn | 9.45 Bn | 36.60% |
| 9 | AppLovin | 102.49 Bn | 92.52 Bn | 1.70 Bn | 78.26% |
| 10 | Zhihu | 293.30 Mn | -1.98 Bn | 57.98 Mn | -5.91% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -5.91% |
| Mar 31, 2026 | -1.06% |
| Dec 31, 2025 | -33.94% |
| Sep 30, 2025 | -6.97% |
| Jun 30, 2025 | 14.11% |
| Mar 31, 2025 | -1.42% |
| Dec 31, 2024 | 9.75% |
| Sep 30, 2024 | -1.17% |
| Jun 30, 2024 | -9.39% |
| Mar 31, 2024 | -17.12% |
| Dec 31, 2023 | 8.63% |
| Sep 30, 2023 | -27.26% |
| Jun 30, 2023 | -26.50% |
| Mar 31, 2023 | -17.52% |
| Dec 31, 2022 | -15.87% |
| Sep 30, 2022 | -32.35% |
| Jun 30, 2022 | -57.49% |
| Mar 31, 2022 | -82.33% |
| Dec 31, 2021 | -37.31% |
| Sep 30, 2021 | -32.73% |
API Access
Zhihu EBT Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ebt-margin&ticker=ZH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebt-margin", "ticker": "ZH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ebt-margin&ticker=ZH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();