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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioGross MarginInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on Sales

Zhihu (ZH) Operating Margin (2020 - 2025)

Zhihu's Operating Margin history spans 6 years, with the latest figure at 41.0% for Q4 2025.

  • On a quarterly basis, Operating Margin fell 138107386.0% to 41.0% in Q4 2025 year-over-year; TTM through Dec 2025 was 22.65%, a 43706.0% decrease, with the full-year FY2025 number at 18.45%, down 509.0% from a year prior.
  • Operating Margin hit 41.0% in Q4 2025 for Zhihu, down from 15.15% in the prior quarter.
  • Over the last five years, Operating Margin for ZH hit a ceiling of 1381032.85% in Q4 2024 and a floor of 87.21% in Q1 2022.
  • Historically, Operating Margin has averaged 69021.86% across 5 years, with a median of 26.97% in 2022.
  • Biggest five-year swings in Operating Margin: soared 138101720bps in 2024 and later crashed -138107386bps in 2025.
  • Tracing ZH's Operating Margin over 5 years: stood at 36.82% in 2021, then soared by 47bps to 19.42% in 2022, then surged by 181bps to 15.65% in 2023, then soared by 8823288bps to 1381032.85% in 2024, then crashed by -100bps to 41.0% in 2025.
  • Business Quant data shows Operating Margin for ZH at 41.0% in Q4 2025, 15.15% in Q3 2025, and 12.69% in Q2 2025.