Zhihu (ZH) Enterprise Value (2019 - 2025)
Zhihu (ZH) posted Enterprise Value of -$465.2 million for Q4 2025, down 24.44% sequentially from -$373.8 million in Q3 2025, and up 15.2% YoY from -$403.8 million in Q4 2024.
Zhihu (ZH) Enterprise Value (2019 - 2025) Analysis & Trends
Zhihu has reported Enterprise Value for 7 years, with the latest figure at -$465.2 million in Q4 2025.
- Quarterly Enterprise Value rose 15.2% year-over-year to -$465.2 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$465.2 million (up 15.2% YoY) and the FY2025 annual result came in at -$465.0 million, up 15.25% from the prior year.
- Enterprise Value slipped to -$465.2 million in Q4 2025 per ZH's latest filing, from -$373.8 million in the prior quarter.
- Over five years, Enterprise Value peaked at -$325.1 million in Q2 2021 and troughed at -$1.1 billion in Q1 2021.
- A 5-year average of -$550.6 million and a median of -$478.4 million in 2025 frame the typical range for Enterprise Value.
- The widest YoY moves for Enterprise Value: up 62.04% in 2022, down 134.71% in 2022.
- Over 5 years, Enterprise Value stood at -$686.5 million in 2021, then declined by 7.98% to -$741.3 million in 2022, then gained by 29.28% to -$524.2 million in 2023, then retreated by 4.64% to -$548.6 million in 2024, then advanced by 15.2% to -$465.2 million in 2025.
- According to Business Quant data, Enterprise Value over the past three periods registered -$465.2 million, -$373.8 million, and -$433.1 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Enterprise Value (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,170.83 Bn | 3,741.79 Bn | 73.85 Bn | -429.04 Bn |
| 2 | Meta Platforms | 1,525.91 Bn | 1,435.65 Bn | 49.47 Bn | -90.26 Bn |
| 3 | Taboola.com | 1,144.63 Bn | 1,144.50 Bn | 139.48 Mn | -133.05 Mn |
| 4 | Baidu | 288.34 Bn | 283.85 Bn | 1.88 Mn | -2.55 Bn |
| 5 | Spotify Technology | 102.92 Bn | 92.68 Bn | 1.75 Bn | -10.24 Bn |
| 6 | Joyy | 77.39 Bn | 76.50 Bn | 205.64 Mn | -578.85 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | -170.00 |
| 8 | Nebius | 49.34 Bn | 39.71 Bn | 295.20 Mn | -9.63 Bn |
| 9 | 30.23 Bn | 27.44 Bn | 734.60 Mn | -2.79 Bn | |
| 10 | Zhihu | 790.94 Mn | 315.76 Mn | 49.31 Bn | -465.19 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -465.19 Mn |
| Sep 30, 2025 | -373.82 Mn |
| Jun 30, 2025 | -433.07 Mn |
| Mar 31, 2025 | -437.93 Mn |
| Dec 31, 2024 | -548.58 Mn |
| Sep 30, 2024 | -447.70 Mn |
| Jun 30, 2024 | -429.77 Mn |
| Mar 31, 2024 | -491.53 Mn |
| Dec 31, 2023 | -524.24 Mn |
| Sep 30, 2023 | -605.65 Mn |
| Jun 30, 2023 | -691.73 Mn |
| Mar 31, 2023 | -798.37 Mn |
| Dec 31, 2022 | -741.34 Mn |
| Sep 30, 2022 | -769.47 Mn |
| Jun 30, 2022 | -424.22 Mn |
| Mar 31, 2022 | -410.24 Mn |
| Dec 31, 2021 | -686.52 Mn |
| Sep 30, 2021 | -327.84 Mn |
| Jun 30, 2021 | -325.10 Mn |
| Mar 31, 2021 | -1.08 Bn |