Zhihu Inc. (ZH) Net Margin (2020 - 2025)

Zhihu (ZH) has 6 years of Net Margin data on file, last reported at 32.42% in Q4 2025.

• Quarterly Net Margin fell 4246.0% year-over-year to 32.42% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 9.26% (down 1924.0% YoY) and the FY2025 annual result came in at 7.02%, down 224.0% from the prior year.
• Net Margin fell to 32.42% in Q4 2025 per ZH's latest filing, from 7.08% in the prior quarter.
• The five-year high for Net Margin was 10.21% in Q2 2025, with the low at 103.55% in Q1 2021.
• Average Net Margin over 5 years is 25.46%, with a median of 22.52% recorded in 2023.
• Year-over-year, Net Margin surged 9141 bps in 2021 and slumped 4246 bps in 2025.
• Zhihu's Net Margin stood at 37.61% in 2021, then surged by 100 bps to 0.0% in 2022, then jumped by 2000000000 bps to 9.12% in 2023, then gained by 10 bps to 10.04% in 2024, then slumped by 423 bps to 32.42% in 2025.
• Business Quant data shows ZH's Net Margin at 32.42% in Q4 2025, 7.08% in Q3 2025, and 10.21% in Q2 2025.