QH vs ZH
Quhuo Ltd. and Zhihu Inc., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | QH | ZH |
|---|---|---|
| Revenue | CNY 2.5B | CNY 2.7B |
| Net income | CNY -149.5M | CNY -195.2M |
| Gross margin | 0.5% | 59.9% |
| Net margin | −6.0% | −7.1% |
| Return on equity | −36.5% | −4.9% |
| Diluted EPS | −CNY 0.11 | −CNY 0.80 |
| Dividend / share | — | — |
| Payout ratio | — | — |
| Free cash flow | CNY -39.4M | CNY -364.9M |
| Equity | CNY 354.8M | CNY 3.8B |
| Net debt / equity | 0.21× | −0.88× |
| Current ratio | 1.03× | 3.73× |
| Revenue CAGR 5y | −0.4% | 15.2% |
| Profit CAGR 5y | — | — |
QH and ZH book revenue within 15% of each other, and both closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
Revenue by year
7 years side by side
| Fiscal year | QH | ZH |
|---|---|---|
| FY2025 | CNY 2.5B | CNY 2.7B |
| FY2024 | CNY 3.0B | CNY 3.6B |
| FY2023 | CNY 3.7B | CNY 4.2B |
| FY2022 | CNY 3.8B | CNY 3.6B |
| FY2021 | CNY 4.0B | CNY 3.0B |
| FY2020 | CNY 2.6B | CNY 1.4B |
| FY2019 | CNY 2.1B | CNY 670.5M |
Net income by year
Bottom line
| Fiscal year | QH | ZH |
|---|---|---|
| FY2025 | CNY -149.5M | CNY -195.2M |
| FY2024 | CNY 2.7M | CNY -169.0M |
| FY2023 | CNY 3.3M | CNY -839.5M |
| FY2022 | CNY -13.1M | CNY -1.6B |
| FY2021 | CNY -157.9M | CNY -1.3B |
| FY2020 | CNY 3.4M | CNY -517.5M |
| FY2019 | CNY -11.8M | CNY -1.0B |