Zhihu (ZHIHF) Net Margin (2020 - 2025)
Zhihu recorded quarterly Net Margin of 35.13% in Q4 2025, down 413.15% quarter-over-quarter from 6.85% in Q3 2025, and down 942907441.0% year-over-year from N/an in Q4 2024.
Zhihu's Net Margin history runs 6 years deep, the most recent figure standing at 35.13% for Q4 2025.
- In Q4 2025, Net Margin fell 942907441.0% year-over-year to 35.13%; the TTM figure through Dec 2025 stood at 7.26% (down 268477.0% YoY), while the FY2025 annual figure was 7.02%, down 224.0% from the prior year.
- Net Margin came in at 35.13% for Q4 2025 at Zhihu, down from 6.85% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 9429039.28% in Q4 2024 to a low of 778.09% in Q2 2024.
- A 5-year average of 471384.12% and a median of 34.25% in 2025 frame the typical range for Net Margin.
- Across the five-year window, Net Margin soared 942903905 bps in 2024 and slumped 942907441 bps in 2025, its largest moves.
- Zhihu's Net Margin stood at 37.75% in 2021, then surged by 49 bps to 19.26% in 2022, then jumped by 101 bps to 0.23% in 2023, then jumped by 2000000000 bps to 9429039.28% in 2024, then slumped by 100 bps to 35.13% in 2025.
- According to Business Quant data, Net Margin over the past three periods registered 35.13%, 6.85%, and 18.28% for Q4 2025, Q3 2025, and Q2 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,554.43 Bn | 4,338.81 Bn | 102.29 Bn | 56.94% |
| 2 | Meta Platforms | 1,602.78 Bn | 1,521.60 Bn | 46.09 Bn | 47.54% |
| 3 | Spotify Technology | 119.86 Bn | 109.62 Bn | 1.75 Bn | 15.91% |
| 4 | 33.71 Bn | 30.94 Bn | 511.94 Mn | 30.75% | |
| 5 | Nebius | 22.38 Bn | 22.38 Bn | 295.20 Mn | 155.44% |
| 6 | 12.76 Bn | 11.46 Bn | 768.96 Mn | -7.30% | |
| 7 | Kanzhun | 12.59 Bn | 10.49 Bn | 255.62 Bn | 55.91% |
| 8 | Snap | 9.64 Bn | 6.81 Bn | 1.29 Bn | -5.82% |
| 9 | Match | 8.43 Bn | 7.41 Bn | 653.28 Mn | 19.31% |
| 10 | Zhihu | - | - | 49.31 Bn | -35.13% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -35.13% |
| Sep 30, 2025 | -6.85% |
| Jun 30, 2025 | 18.28% |
| Mar 31, 2025 | -41.92% |
| Dec 31, 2024 | 9.43% |
| Sep 30, 2024 | -7.75% |
| Jun 30, 2024 | -778.09% |
| Mar 31, 2024 | -28.88% |
| Dec 31, 2023 | 0.23% |
| Sep 30, 2023 | -35.87% |
| Jun 30, 2023 | -33.38% |
| Mar 31, 2023 | -22.27% |
| Dec 31, 2022 | -19.26% |
| Sep 30, 2022 | -35.49% |
| Jun 30, 2022 | -58.61% |
| Mar 31, 2022 | -83.57% |
| Dec 31, 2021 | -37.75% |
| Sep 30, 2021 | -33.10% |
| Jun 30, 2021 | -49.80% |
| Mar 31, 2021 | -67.66% |
| Dec 31, 2020 | -17.14% |
| Sep 30, 2020 | -28.57% |
| Jun 30, 2020 | -44.77% |
| Mar 31, 2020 | -106.26% |