Zhihu (ZH) Equity Ratio (2019 - 2025)

Zhihu has disclosed Equity Ratio across 7 years of filings, most recently posting 0.75 for Q4 2025.

• Equity Ratio for Q4 2025 came in at 0.75, up 2.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 0.75 (up 2.0% YoY), and the FY2025 annual result was 0.73, up 1.58% from the prior year.
• Equity Ratio came in at 0.75 for Q4 2025 at Zhihu, roughly flat from 0.75 in the prior quarter.
• In the past five years, Equity Ratio ranged from a high of 0.85 in Q1 2021 to a low of 0.69 in Q1 2024.
• The 5-year median for Equity Ratio is 0.73 (2025), against an average of 0.74.
• Across the five-year window, Equity Ratio jumped 155.95% in 2021 and retreated 12.16% in 2022, its largest moves.
• Zhihu's Equity Ratio stood at 0.77 in 2021, then slipped by 2.81% to 0.74 in 2022, then fell by 6.97% to 0.69 in 2023, then grew by 5.78% to 0.73 in 2024, then increased by 2.0% to 0.75 in 2025.
• The last three Equity Ratio figures came in at 0.75 (Q4 2025), 0.75 (Q3 2025), and 0.73 (Q2 2025), per Business Quant data.