Zhihu (ZH) Tax Rate (2020 - 2025)

Zhihu (ZH) posted Tax Rate of 3.48% for Q4 2025, down 288.09% sequentially from 1.85% in Q3 2025, and down 666.0% YoY from 0.62% in Q4 2024.

Zhihu (ZH) Tax Rate (2020 - 2025) Analysis & Trends

Zhihu has reported Tax Rate for 6 years, with the latest figure at 3.48% in Q4 2025.

Quarterly Tax Rate fell 666.0% year-over-year to 3.48% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 12.76% (up 118.0% YoY) and the FY2025 annual result came in at 12.5%, down 1777.0% from the prior year.
Tax Rate eased to 3.48% in Q4 2025 per ZH's latest filing, from 1.85% in the prior quarter.
Over five years, Tax Rate peaked at 3.18% in Q4 2024 and troughed at 8087.35% in Q2 2024.
A 5-year average of 518.48% and a median of 0.44% in 2022 frame the typical range for Tax Rate.
The sharpest annual moves came in 2024 and 2025: Tax Rate tumbled 808819 bps in 2024, then jumped 805900 bps in 2025.
Over 5 years, Tax Rate stood at 0.79% in 2021, then soared by 96 bps to 1.56% in 2022, then sank by 418 bps to 4.95% in 2023, then jumped by 164 bps to 3.18% in 2024, then sank by 210 bps to 3.48% in 2025.
According to Business Quant data, Tax Rate over the past three periods registered 3.48%, 1.85%, and 28.35% for Q4 2025, Q3 2025, and Q2 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Tax Rate (Qtr)
1	Alphabet	4,226.97 Bn	3,797.93 Bn	73.85 Bn	19.14%
2	Meta Platforms	1,534.26 Bn	1,444.00 Bn	49.47 Bn	15.50%
3	Taboola.com	1,139.07 Bn	1,138.93 Bn	139.48 Mn	40.80%
4	Baidu	289.47 Bn	284.98 Bn	1.88 Mn	13.72%
5	Spotify Technology	102.75 Bn	92.51 Bn	1.75 Bn	23.05%
6	Joyy	77.93 Bn	77.04 Bn	205.64 Mn	-3.36%
7	BILI Social International	60.58 Bn	60.58 Bn	405,933.00	21.00%
8	Nebius	49.20 Bn	39.57 Bn	295.20 Mn	-
9	Reddit	30.47 Bn	27.69 Bn	734.60 Mn	1.55%
10	Zhihu	793.34 Mn	318.16 Mn	49.31 Bn	-3.48%

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