Zhihu (ZH) Share-based Compensation (2023 - 2025)
Zhihu (ZH) recorded Share-based Compensation of $12.3 billion in the quarter ended Dec 31, 2025, compared with $1.07 million a year earlier.
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Analysis
Zhihu (ZH) Share-based Compensation (2023 - 2025) Analysis & Trends
For the year ended Dec 31, 2025, Zhihu reported Share-based Compensation of $12.48 million, up 51.3% from the prior year.
- Annual Share-based Compensation has a five-year compound annual growth rate of -13.7% (years ended Dec 2020 to Dec 2025).
- Across earlier years, Share-based Compensation came in at $8.25 million in the year ended Dec 31, 2024 (-64.4%), $23.19 million in the year ended Dec 31, 2023 (-57.2%), $54.21 million in the year ended Dec 31, 2022 (-37.0%) and $86.07 million in the year ended Dec 31, 2021 (+229.6%).
- The figure for the quarter ended Dec 31, 2025 is the highest quarterly Share-based Compensation in data going back to the quarter ended Dec 31, 2023.
- Per Business Quant, the preceding three quarters came in at $3.21 million (quarter ended Sep 30, 2025), $2.23 million (quarter ended Jun 30, 2025) and $1.95 million (quarter ended Mar 31, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Stock Comp. (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 7.96 Bn |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 7.66 Bn |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 131.31 Mn |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | 437.00 Mn |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | 128.00 Mn |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 550.00 Mn |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 140.00 Mn |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | - |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 85.61 Mn |
| 10 | Zhihu | 310.41 Mn | -1.96 Bn | 57.98 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 12.30 Bn |
| Sep 30, 2025 | 3.21 Mn |
| Jun 30, 2025 | 2.23 Mn |
| Mar 31, 2025 | 1.95 Mn |
| Dec 31, 2024 | 1.07 Mn |
| Sep 30, 2024 | -972,662.43 |
| Jun 30, 2024 | 4.51 Mn |
| Mar 31, 2024 | 3.61 Mn |
| Dec 31, 2023 | 1.04 Mn |
API Access
Zhihu Share-based Compensation API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=share-based-compensation&ticker=ZH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "share-based-compensation", "ticker": "ZH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=share-based-compensation&ticker=ZH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();