Financials Zhihu Inc. Hong Kong S.E.

Equities

2390

KYG989MJ1017

Internet Services

Market Closed - Hong Kong S.E. 01:38:22 10/05/2024 pm IST 5-day change 1st Jan Change
10.24 HKD -0.19% Intraday chart for Zhihu Inc. +2.50% -29.18%

Valuation

Fiscal Period: December 2021 2022 2023 2024 2025 2026
Capitalization 1 1,18,558 33,514 23,886 16,243 - -
Enterprise Value (EV) 1 1,16,401 28,988 21,779 16,243 16,243 16,243
P/E ratio -11.5 x -3.46 x -4.71 x -5.19 x -23 x -
Yield - - - - - -
Capitalization / Revenue 40.1 x 9.3 x 5.69 x 4.36 x 3.85 x 3.75 x
EV / Revenue 40.1 x 9.3 x 5.69 x 4.36 x 3.85 x 3.75 x
EV / EBITDA -144 x -27.8 x -27.1 x -27.8 x 416 x -
EV / FCF -265 x -30 x -56.3 x -40.5 x -262 x 167 x
FCF Yield -0.38% -3.33% -1.78% -2.47% -0.38% 0.6%
Price to Book 2.51 x 1 x 0.88 x 0.65 x 0.69 x 0.64 x
Nbr of stocks (in thousands) 5,61,505 6,22,958 5,99,004 5,79,399 - -
Reference price 2 211.1 53.80 39.88 28.03 28.03 28.03
Announcement Date 14/03/22 22/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net sales 1 - 2,959 3,605 4,199 3,728 4,217 4,337
EBITDA 1 - -820.8 -1,205 -882.7 -584 39 -
EBIT 1 - -1,391 -1,604 -1,072 -613 -223.2 -34.2
Operating Margin - -46.99% -44.49% -25.54% -16.44% -5.29% -0.79%
Earnings before Tax (EBT) 1 - -1,293 -1,564 -827.7 -409.5 -117.5 17.5
Net income 1 -517.6 -1,469 -1,581 -843.6 -457.3 -124.5 12.5
Net margin - -49.66% -43.86% -20.09% -12.27% -2.95% 0.29%
EPS 2 -110.2 -18.36 -15.54 -8.460 -5.400 -1.220 -
Free Cash Flow 1 - -447.7 -1,116 -424 -401 -62 97
FCF margin - -15.13% -30.95% -10.1% -10.76% -1.47% 2.24%
FCF Conversion (EBITDA) - - - - - - -
FCF Conversion (Net income) - - - - - - 776%
Dividend per Share 2 - - - - - - -
Announcement Date 05/03/21 14/03/22 22/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3
Net sales 1 823.5 1,019 743.2 836 911.7 1,114 994.2 1,044 1,022 1,138 898.6 862.5 836.8
EBITDA -317.6 -370.3 -642.8 -455.3 -273.2 166.7 - - - - - - -
EBIT 1 -322.5 -375.2 -648.2 -460.7 -278.6 -216.3 -216.7 -327.2 -350.1 -178.2 -246 - -
Operating Margin -39.16% -36.82% -87.21% -55.1% -30.56% -19.42% -21.8% -31.34% -34.25% -15.65% -27.38% - -
Earnings before Tax (EBT) -269.5 -380.3 -611.9 -480.6 -294.9 -176.8 - - - - - - -
Net income 1 -269.8 -383.3 -614.3 -487 -300.2 -179.7 -181.4 -279.1 -278.7 - -210 - -
Net margin -32.77% -37.61% -82.65% -58.25% -32.92% -16.13% -18.24% -26.73% -27.26% - -23.37% - -
EPS -5.460 -3.900 -6.120 -9.540 -5.880 -1.740 - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 22/11/21 14/03/22 25/05/22 30/08/22 30/11/22 22/03/23 24/05/23 23/08/23 29/11/23 26/03/24 - - -
1CNY in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026
Net Debt - - - - - - -
Net Cash position - 2,157 4,526 2,107 - - -
Leverage (Debt/EBITDA) - - - - - - -
Free Cash Flow 1 - -448 -1,116 -424 -401 -62 97
ROE (net income / shareholders' equity) - -94.2% -19.3% -12.9% -7.68% -0.91% 4.47%
ROA (Net income/ Total Assets) - -11.9% -14.5% -9.12% -6.1% -0.4% -1.4%
Assets 1 - 12,358 10,883 9,249 7,497 31,125 -892.9
Book Value Per Share 2 - 84.10 53.60 45.20 42.80 40.90 43.80
Cash Flow per Share 2 - -5.500 -5.490 -8.330 -6.450 -1.500 1.200
Capex 1 - 7.44 0.71 8.49 20.5 27.3 22.5
Capex / Sales - 0.25% 0.02% 0.2% 0.55% 0.65% 0.52%
Announcement Date 05/03/21 14/03/22 22/03/23 26/03/24 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
28.03 CNY
Average target price
58.46 CNY
Spread / Average Target
+108.54%
Consensus
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