BZ vs GDS
Kanzhun Ltd. and GDS Holdings Ltd., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
Most recent reported year
| Metric | BZ | GDS |
|---|---|---|
| Revenue | CNY 8.3B | CNY 11.4B |
| Net income | CNY 2.7B | CNY 949.6M |
| Gross margin | 85.1% | 22.6% |
| Net margin | 32.5% | 8.4% |
| Return on equity | 15.7% | 3.9% |
| Diluted EPS | CNY 2.95 | CNY 0.55 |
| Dividend / share | · | · |
| Payout ratio | 20.2% | · |
| Free cash flow | CNY 4.4B | CNY -1.3B |
| Equity | CNY 20.0B | CNY 25.8B |
| Net debt / equity | · | 0.45× |
| Current ratio | 4.66× | 2.60× |
| Revenue CAGR 5y | 33.6% | 14.8% |
| Profit CAGR 5y | · | · |
GDS bills 1.4× the revenue of BZ, and BZ keeps more of each dollar of revenue as profit (32.5% against 8.4%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
7 years side by side
| Fiscal year | BZ | GDS |
|---|---|---|
| FY2025 | CNY 8.3B | CNY 11.4B |
| FY2024 | CNY 7.4B | CNY 10.3B |
| FY2023 | CNY 6.0B | CNY 9.8B |
| FY2022 | CNY 4.5B | CNY 9.3B |
| FY2021 | CNY 4.3B | CNY 7.8B |
| FY2020 | CNY 1.9B | CNY 5.7B |
| FY2019 | CNY 998.7M | CNY 4.1B |
Bottom line
| Fiscal year | BZ | GDS |
|---|---|---|
| FY2025 | CNY 2.7B | CNY 949.6M |
| FY2024 | CNY 1.6B | CNY 3.4B |
| FY2023 | CNY 1.1B | CNY -4.3B |
| FY2022 | CNY 107.2M | CNY -1.3B |
| FY2021 | CNY -1.1B | CNY -1.2B |
| FY2020 | CNY -941.9M | CNY -666.4M |
| FY2019 | CNY -502.1M | CNY -442.1M |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −CNY 3,164,756,000 | GDS |
| FY2024 | −CNY 2,966,391,000 | GDS |
| FY2023 | −CNY 3,830,420,000 | GDS |
| FY2022 | −CNY 4,757,039,000 | GDS |
| FY2021 | −CNY 3,559,553,000 | GDS |
| FY2020 | −CNY 3,794,613,000 | GDS |
| FY2019 | −CNY 3,123,685,000 | GDS |
GDS has reported the higher revenue in every one of these 7 fiscal years. The gap has widened since the earliest year compared.
7 of 12 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +24.2 pp | BZ |
| FY2024 | −10.7 pp | GDS |
| FY2023 | +62.3 pp | BZ |
| FY2022 | +16.0 pp | BZ |
| FY2021 | −9.9 pp | GDS |
| FY2020 | −36.8 pp | GDS |
| FY2019 | −39.5 pp | GDS |
The higher net margin has changed hands between BZ and GDS over this period.
7 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BZ's net margin has been more volatile than GDS's over the 7 comparable fiscal years — 31.7 percentage points of standard deviation against 21.6.
7 of 12 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between BZ and GDS over these 7 fiscal years — BZ led in 3 and GDS in 4.
7 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
GDS's return on equity has been more volatile than BZ's over the 4 comparable fiscal years — 13.5 percentage points of standard deviation against 5.3.
4 of 9 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BZ and GDS over these 4 fiscal years — BZ led in 3 and GDS in 1.
4 of 9 comparable fiscal years — a year missing data on either side is not counted.