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Zhihu Inc is predominantly engaged in the operation of one online content community and monetizes through paid membership services, advertising services, content-commerce solutions services, and vocational training in China. It generates revenues from Advertising services, Paid membership services, Content-commerce solutions, and Others. It derives all its revenues within China.
2011
2.7K+
LTM Revenue $475M
LTM EBITDA -$52.1M
-$322M
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Zhihu has a last 12-month revenue of $475M and a last 12-month EBITDA of -$52.1M.
In the most recent fiscal year, Zhihu achieved revenue of $540M and an EBITDA of -$135M.
Zhihu expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Zhihu valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $464M | $540M | XXX | XXX | XXX |
| Gross Profit | $200M | $233M | XXX | XXX | XXX |
| Gross Margin | 43% | 43% | XXX | XXX | XXX |
| EBITDA | -$203M | -$135M | XXX | XXX | XXX |
| EBITDA Margin | -44% | -25% | XXX | XXX | XXX |
| Net Profit | -$167M | -$203M | XXX | XXX | XXX |
| Net Margin | -36% | -38% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Zhihu's stock price is HKD 10 (or $1).
Zhihu has current market cap of HKD 2.6B (or $340M), and EV of -HKD 2.5B (or -$322M).
See Zhihu trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| -$322M | $340M | XXX | XXX | XXX | XXX | $-0.07 |
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Sign UpAs of April 15, 2025, Zhihu has market cap of $340M and EV of -$322M.
Zhihu's trades at -0.7x LTM EV/Revenue multiple, and 6.2x LTM EBITDA.
Analysts estimate Zhihu's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Zhihu and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | -$322M | XXX | XXX | XXX |
| EV/Revenue | -0.6x | XXX | XXX | XXX |
| EV/EBITDA | 2.4x | XXX | XXX | XXX |
| P/E | -3.1x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | 5.9x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpZhihu's NTM/LTM revenue growth is -9%
Zhihu's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, Zhihu's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Zhihu's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Zhihu and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 16% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -25% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -34% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -34% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 49% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 10% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 21% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 80% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Mixed Martial Arts Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Gumtree Australia | XXX | XXX | XXX | XXX | XXX | XXX |
| Gumtree Australia | XXX | XXX | XXX | XXX | XXX | XXX |
| Stock3 | XXX | XXX | XXX | XXX | XXX | XXX |
| Meb Corporation | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Zhihu acquired XXX companies to date.
Last acquisition by Zhihu was XXXXXXXX, XXXXX XXXXX XXXXXX . Zhihu acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Zhihu founded? | Zhihu was founded in 2011. |
| Where is Zhihu headquartered? | Zhihu is headquartered in Hong Kong. |
| How many employees does Zhihu have? | As of today, Zhihu has 2.7K+ employees. |
| Who is the CEO of Zhihu? | Zhihu's CEO is Mr. Yuan Johannes Zhou. |
| Is Zhihu publicy listed? | Yes, Zhihu is a public company listed on HKG. |
| What is the stock symbol of Zhihu? | Zhihu trades under 02390 ticker. |
| When did Zhihu go public? | Zhihu went public in 2022. |
| Who are competitors of Zhihu? | Similar companies to Zhihu include e.g. Mixed Martial Arts Group, Gumtree Australia, Gumtree Australia, Stock3. |
| What is the current market cap of Zhihu? | Zhihu's current market cap is $340M |
| What is the current revenue of Zhihu? | Zhihu's last 12-month revenue is $475M. |
| What is the current EBITDA of Zhihu? | Zhihu's last 12-month EBITDA is -$52.1M. |
| What is the current EV/Revenue multiple of Zhihu? | Current revenue multiple of Zhihu is -0.7x. |
| What is the current EV/EBITDA multiple of Zhihu? | Current EBITDA multiple of Zhihu is 6.2x. |
| What is the current revenue growth of Zhihu? | Zhihu revenue growth between 2023 and 2024 was 16%. |
| Is Zhihu profitable? | Yes, Zhihu is EBITDA-positive (as of the last 12 months). |
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