Zhihu (ZH) Intangibles (2020 - 2026)

Zhihu has reported Intangibles for 6 years, with the latest figure at $4.2 million in Q4 2025.

• Quarterly Intangibles fell 45.05% year-over-year to $4.2 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $4.2 million (down 45.05% YoY) and the FY2025 annual result came in at $4.2 million, down 43.37% from the prior year.
• Intangibles fell to $4.2 million in Q4 2025 per ZH's latest filing, from $6.1 million in the prior quarter.
• Over five years, Intangibles peaked at $18.2 million in Q2 2023 and troughed at $2.8 million in Q2 2021.
• A 5-year average of $9.8 million and a median of $8.9 million in 2021 frame the typical range for Intangibles.
• The sharpest annual moves came in 2022 and 2025: Intangibles surged 215.6% in 2022, then slumped 56.66% in 2025.
• Over 5 years, Intangibles stood at $10.7 million in 2021, then increased by 5.59% to $11.3 million in 2022, then jumped by 50.99% to $17.0 million in 2023, then sank by 55.43% to $7.6 million in 2024, then slumped by 45.05% to $4.2 million in 2025.
• According to Business Quant data, Intangibles over the past three periods registered $4.2 million, $6.1 million, and $6.6 million for Q4 2025, Q3 2025, and Q2 2025 respectively.