Zhihu (ZHIHF) Research & Development (2020 - 2025)
Zhihu recorded quarterly Research & Development of -$17.6 billion in Q4 2025, down 4433601.26% quarter-over-quarter from $397000.0 in Q3 2025, and down 1995478.23% year-over-year from N/an in Q4 2024.
Zhihu's Research & Development history runs 6 years deep, the most recent figure standing at -$17.6 billion for Q4 2025.
- In Q4 2025, Research & Development fell 1995478.23% year-over-year to -$17.6 billion; the TTM figure through Dec 2025 stood at -$38.0 billion (down 45873.56% YoY), while the FY2025 annual figure was $75.1 million, down 25.2% from the prior year.
- Research & Development came in at -$17.6 billion for Q4 2025 at Zhihu, down from $397000.0 in the prior quarter.
- In the past five years, Research & Development ranged from a high of $32.8 million in Q4 2023 to a low of -$20.3 billion in Q2 2025.
- A 5-year average of -$1.9 billion and a median of -$27.0 million in 2023 frame the typical range for Research & Development.
- Across the five-year window, Research & Development jumped 209.64% in 2023 and slumped 1995478.23% in 2025, its largest moves.
- Zhihu's Research & Development stood at -$32.6 million in 2021, then advanced by 8.47% to -$29.9 million in 2022, then surged by 209.64% to $32.8 million in 2023, then tumbled by 102.69% to -$882000.0 in 2024, then plunged by 1995478.23% to -$17.6 billion in 2025.
- According to Business Quant data, Research & Development over the past three periods registered -$17.6 billion, $397000.0, and -$20.3 billion for Q4 2025, Q3 2025, and Q2 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,554.43 Bn | 4,338.81 Bn | 102.29 Bn | 17.03 Bn |
| 2 | Meta Platforms | 1,602.78 Bn | 1,521.60 Bn | 46.09 Bn | 17.70 Bn |
| 3 | Spotify Technology | 119.86 Bn | 109.62 Bn | 1.75 Bn | 387.52 Mn |
| 4 | 33.71 Bn | 30.94 Bn | 511.94 Mn | 207.25 Mn | |
| 5 | Nebius | 22.38 Bn | 22.38 Bn | 295.20 Mn | 67.40 Mn |
| 6 | 12.76 Bn | 11.46 Bn | 768.96 Mn | 380.79 Mn | |
| 7 | Kanzhun | 12.59 Bn | 10.49 Bn | 255.62 Bn | -61.44 Bn |
| 8 | Snap | 9.64 Bn | 6.81 Bn | 1.29 Bn | 478.30 Mn |
| 9 | Match | 8.43 Bn | 7.41 Bn | 653.28 Mn | 116.81 Mn |
| 10 | Zhihu | - | - | 49.31 Bn | -17.60 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -17.60 Bn |
| Sep 30, 2025 | 397,000.00 |
| Jun 30, 2025 | -20.34 Bn |
| Mar 31, 2025 | -19.55 Mn |
| Dec 31, 2024 | -882,000.00 |
| Sep 30, 2024 | -25.54 Mn |
| Jun 30, 2024 | -28.80 Mn |
| Mar 31, 2024 | -27.33 Mn |
| Dec 31, 2023 | 32.76 Mn |
| Sep 30, 2023 | -34.22 Mn |
| Jun 30, 2023 | -32.58 Mn |
| Mar 31, 2023 | -26.64 Mn |
| Dec 31, 2022 | -29.88 Mn |
| Sep 30, 2022 | -22.60 Mn |
| Jun 30, 2022 | -33.38 Mn |
| Mar 31, 2022 | -26.27 Mn |
| Dec 31, 2021 | -32.64 Mn |
| Sep 30, 2021 | -28.66 Mn |
| Jun 30, 2021 | -18.68 Mn |
| Mar 31, 2021 | -16.23 Mn |
| Dec 31, 2020 | -12.43 Mn |
| Sep 30, 2020 | -11.16 Mn |
| Jun 30, 2020 | -11.79 Mn |
| Mar 31, 2020 | -12.41 Mn |