NASDAQ : BZ
Kanzhun Limited — Financial statements
Communication Services · Internet Content & Information · China
Last price 16.54 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 7.39B
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Financial statements
Kanzhun Limited (BZ) reported revenue of 8.71B CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 8.66B | 8.19B | 7.27B | 5.89B | 4.46B | 4.22B |
| Other Revenue | 53.71M | 74.80M | 85.65M | 62.93M | 49.78M | 40.10M |
| Revenue | 8.71B | 8.27B | 7.36B | 5.95B | 4.51B | 4.26B |
| Cost of Revenue | 1.23B | 1.24B | 1.24B | 1.06B | 754.86M | 554.65M |
| Gross Profit | 7.48B | 7.03B | 6.12B | 4.89B | 3.76B | 3.70B |
| Selling, General & Admin | 2.81B | 2.77B | 3.17B | 2.80B | 2.72B | 2.43B |
| Research & Development | 1.67B | 1.65B | 1.82B | 1.54B | 1.18B | 821.98M |
| Other Operating Expenses | -26.59M | -29.10M | -40.44M | -35.57M | -17.59M | -14.98M |
| Operating Expenses | 4.45B | 4.40B | 4.94B | 4.31B | 3.89B | 3.23B |
| Operating Income | 3.03B | 2.64B | 1.17B | 581.15M | -129.52M | 470.08M |
| Interest & Investment Income | 2.81B | 705.96M | 625.28M | 606.76M | 226.48M | 34.48M |
| Currency Exchange Gain (Loss) | 12.16M | 11.16M | -68.00K | 1.09M | 8.63M | -1.96M |
| Other Non Operating Income (Expenses) | 36.16M | 18.99M | 34.50M | 32.97M | 11.41M | -7.75M |
| EBT Excluding Unusual Items | 5.89B | 3.37B | 1.83B | 1.22B | 117.00M | 494.85M |
| Gain (Loss) on Sale of Assets | -51.15M | -51.15M | -649.00K | -183.00K | ||
| Asset Writedown | -119.80M | -119.80M | ||||
| Other Unusual Items | -1.51B | |||||
| Pretax Income | 5.72B | 3.20B | 1.83B | 1.22B | 117.00M | -1.01B |
| Income Tax Expense | 1.19B | 509.75M | 265.63M | 122.57M | 9.75M | 59.53M |
| Earnings From Continuing Operations | 4.54B | 2.69B | 1.57B | 1.10B | 107.25M | -1.07B |
| Minority Interest in Earnings | 67.29M | 44.87M | 17.64M | 9.00K | ||
| Net Income | 4.60B | 2.74B | 1.58B | 1.10B | 107.25M | -1.07B |
| Preferred Dividends & Other Adjustments | 164.06M | |||||
| Net Income to Common | 4.60B | 2.74B | 1.58B | 1.10B | 107.25M | -1.24B |
| Shares Outstanding (Basic) | 460.74M | 450.52M | 440.94M | 435.15M | 434.47M | 264.67M |
| Shares Outstanding (Diluted) | 472.40M | 463.50M | 454.61M | 451.37M | 456.07M | 264.67M |
| EPS (Basic) | 9.99 | 6.07 | 3.59 | 2.53 | 0.25 | -4.67 |
| EPS (Diluted) | 9.74 | 5.90 | 3.48 | 2.44 | 0.24 | -4.67 |
| Free Cash Flow | 4.44B | 4.43B | 2.69B | 2.09B | 662.92M | 1.38B |
| Free Cash Flow Per Share | 9.39 | 9.56 | 5.91 | 4.63 | 1.45 | 5.22 |
| Dividend Per Share | 1.23 | |||||
| Gross Margin | 85.91% | 85.06% | 83.15% | 82.19% | 83.27% | 86.98% |
| Operating Margin | 34.80% | 31.87% | 15.96% | 9.76% | -2.87% | 11.04% |
| Profit Margin | 52.85% | 33.09% | 21.54% | 18.47% | 2.38% | -29.00% |
| Free Cash Flow Margin | 50.93% | 53.62% | 36.52% | 35.14% | 14.70% | 32.44% |
| EBITDA | 3.59B | 3.18B | 1.68B | 839.91M | 10.56M | 550.18M |
| EBITDA Margin | 41.24% | 38.52% | 22.78% | 14.11% | 0.23% | 12.92% |
| D&A For EBITDA | 560.64M | 549.79M | 501.88M | 258.75M | 140.08M | 80.10M |
| EBIT | 3.03B | 2.64B | 1.17B | 581.15M | -129.52M | 470.08M |
| EBIT Margin | 34.80% | 31.87% | 15.96% | 9.76% | -2.87% | 11.04% |
| Effective Tax Rate | 20.73% | 15.93% | 14.49% | 10.03% | 8.33% | |
| Revenue as Reported | 8.71B | 8.27B | 7.36B | 5.95B | 4.51B | 4.26B |
| Advertising Expenses | 322.80M | 530.40M | 582.10M | 793.21M | 997.65M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.58B | 4.10B | 2.55B | 2.47B | 9.75B | 11.34B |
| Short-Term Investments | 18.42B | 15.89B | 12.20B | 10.50B | 3.53B | 948.81M |
| Cash & Short-Term Investments | 21.00B | 20.00B | 14.75B | 12.97B | 13.28B | 12.29B |
| Accounts Receivable | 53.43M | 33.14M | 40.71M | 16.73M | 9.86M | 1.00M |
| Other Receivables | 203.26M | 140.48M | 112.59M | 191.17M | 205.95M | 357.97M |
| Receivables | 279.64M | 186.39M | 167.74M | 233.65M | 249.48M | 411.67M |
| Inventory | 2.16M | 2.40M | 3.04M | |||
| Prepaid Expenses | 121.52M | 27.27M | 45.34M | 96.72M | 214.14M | 236.82M |
| Other Current Assets | 203.48M | 139.56M | 129.94M | 69.83M | 84.34M | 19.90M |
| Total Current Assets | 21.60B | 20.36B | 15.10B | 13.37B | 13.83B | 12.96B |
| Property, Plant & Equipment | 1.49B | 1.41B | 2.04B | 2.08B | 980.66M | 678.21M |
| Long-Term Investments | 3.67B | 2.68B | 1.91B | 2.47B | ||
| Goodwill | 6.53M | 6.53M | 6.53M | 5.69M | 5.69M | |
| Other Intangible Assets | 91.61M | 100.91M | 252.59M | 8.09M | 10.25M | 458.00K |
| Long-Term Deferred Tax Assets | 15.17M | 18.17M | ||||
| Other Long-Term Assets | 4.00M | 4.00M | 4.00M | |||
| Total Assets | 26.88B | 24.57B | 19.31B | 17.94B | 14.83B | 13.64B |
| Accounts Payable | 11.45M | 8.05M | 20.87M | 19.83M | 10.88M | 2.33M |
| Accrued Expenses | 550.60M | 566.61M | 485.42M | 506.05M | 398.73M | 403.93M |
| Current Portion of Leases | 116.67M | 94.02M | 180.78M | 155.01M | 151.44M | 127.53M |
| Current Income Taxes Payable | 175.37M | 211.49M | 115.19M | 116.66M | 152.60M | 218.42M |
| Current Unearned Revenue | 3.55B | 3.24B | 3.08B | 2.79B | 2.06B | 1.96B |
| Other Current Liabilities | 754.93M | 255.14M | 304.95M | 765.73M | 256.57M | 73.42M |
| Total Current Liabilities | 5.16B | 4.37B | 4.19B | 4.36B | 3.03B | 2.78B |
| Long-Term Leases | 99.42M | 64.03M | 121.34M | 125.08M | 143.59M | 183.37M |
| Long-Term Deferred Tax Liabilities | 570.76M | 51.69M | 34.45M | 28.43M | 11.40M | |
| Total Liabilities | 5.83B | 4.49B | 4.35B | 4.51B | 3.19B | 2.97B |
| Common Stock | 619.00K | 618.00K | 571.00K | 564.00K | 564.00K | 554.00K |
| Additional Paid-In Capital | 18.37B | 18.12B | 16.23B | 15.50B | 15.45B | 14.62B |
| Retained Earnings | 4.38B | 1.28B | -902.59M | -2.49B | -3.59B | -3.69B |
| Treasury Stock | -2.15B | -203.99M | -1.52B | -479.73M | -918.89M | |
| Comprehensive Income & Other | 432.83M | 842.70M | 1.05B | 898.81M | 695.18M | -257.76M |
| Total Common Equity | 21.03B | 20.03B | 14.87B | 13.43B | 11.64B | 10.67B |
| Minority Interest | 16.15M | 50.26M | 95.45M | -9.00K | ||
| Shareholders' Equity | 21.05B | 20.08B | 14.96B | 13.43B | 11.64B | 10.67B |
| Total Liabilities & Equity | 26.88B | 24.57B | 19.31B | 17.94B | 14.83B | 13.64B |
| Total Debt | 216.09M | 158.04M | 302.13M | 280.09M | 295.03M | 310.90M |
| Net Cash (Debt) | 20.78B | 19.84B | 14.45B | 12.69B | 12.98B | 11.98B |
| Net Cash Per Share | 43.99 | 42.81 | 31.79 | 28.12 | 28.47 | 45.26 |
| Filing Date Shares Outstanding | 385.19M | 462.81M | 434.74M | 439.93M | 432.84M | 434.94M |
| Total Common Shares Outstanding | 385.19M | 465.49M | 434.65M | 439.90M | 432.71M | 434.34M |
| Working Capital | 16.45B | 15.98B | 10.91B | 9.02B | 10.80B | 10.17B |
| Book Value Per Share | 54.60 | 43.03 | 34.21 | 30.53 | 26.90 | 24.58 |
| Tangible Book Value | 20.93B | 19.92B | 14.61B | 13.42B | 11.62B | 10.67B |
| Tangible Book Value Per Share | 54.35 | 42.80 | 33.61 | 30.50 | 26.87 | 24.57 |
| Buildings | 46.24M | 46.24M | 46.24M | |||
| Machinery | 2.77B | 2.49B | 2.52B | 2.18B | 872.81M | 446.37M |
| Leasehold Improvements | 122.59M | 123.61M | 181.71M | 136.54M | 95.55M | 65.89M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 4.60B | 2.74B | 1.58B | 1.10B | 107.25M | -1.07B |
| Depreciation & Amortization | 694.24M | 695.21M | 686.48M | 427.89M | 287.40M | 189.44M |
| Loss (Gain) From Sale of Assets | 69.90M | 51.15M | 649.00K | 183.00K | -96.00K | 110.00K |
| Asset Writedown & Restructuring Costs | 119.80M | 119.80M | ||||
| Stock-Based Compensation | 807.92M | 911.99M | 1.14B | 1.06B | 692.20M | 417.28M |
| Provision & Write-off of Bad Debts | 1.29M | 694.00K | 793.00K | 86.00K | 336.00K | |
| Other Operating Activities | -1.83B | -124.66M | -20.17M | -275.06M | -43.02M | 1.50B |
| Change in Accounts Receivable | -21.79M | 7.16M | -17.49M | -7.04M | -5.98M | 6.00M |
| Change in Inventory | 543.00K | 647.00K | -3.04M | |||
| Change in Accounts Payable | -8.59M | -4.74M | -28.68M | 24.74M | 10.18M | 13.46M |
| Change in Unearned Revenue | 246.80M | 151.12M | 289.50M | 733.18M | 102.32M | 758.22M |
| Change in Other Net Operating Assets | -53.50M | 8.66M | -93.91M | -13.18M | -147.55M | -173.78M |
| Operating Cash Flow | 4.63B | 4.55B | 3.54B | 3.05B | 1.00B | 1.64B |
| Capital Expenditures | -196.72M | -119.12M | -856.05M | -955.51M | -340.12M | -259.89M |
| Sale of Property, Plant & Equipment | 50.03M | 50.60M | 120.00K | 6.95M | 324.00K | 29.00K |
| Cash Acquisitions | -150.22M | -66.00K | -9.93M | |||
| Investment in Securities | -4.82B | -4.54B | -1.01B | -8.99B | -2.47B | -342.00M |
| Investing Cash Flow | -4.97B | -4.61B | -2.02B | -9.94B | -2.82B | -601.86M |
| Issuance of Common Stock | 2.21B | 2.35B | 191.32M | 217.71M | 249.66M | 6.44B |
| Repurchase of Common Stock | -1.81B | -142.80M | -1.65B | -71.83M | -918.89M | -11.58M |
| Financing Cash Flow | -153.05M | 1.65B | -1.46B | -417.02M | -669.23M | 6.43B |
| Foreign Exchange Rate Adjustments | -91.99M | -46.84M | 15.07M | 29.79M | 892.84M | -127.23M |
| Net Cash Flow | -579.23M | 1.55B | 80.13M | -7.28B | -1.59B | 7.34B |
| Free Cash Flow | 4.44B | 4.43B | 2.69B | 2.09B | 662.92M | 1.38B |
| Free Cash Flow Margin | 50.93% | 53.62% | 36.52% | 35.14% | 14.70% | 32.44% |
| Free Cash Flow Per Share | 9.39 | 9.56 | 5.91 | 4.63 | 1.45 | 5.22 |
| Levered Free Cash Flow | 4.07B | 3.39B | 1.57B | 2.36B | 901.96M | 2.65B |
| Unlevered Free Cash Flow | 4.07B | 3.39B | 1.57B | 2.36B | 901.96M | 2.65B |
| Cash Income Tax Paid | 517.61M | 503.95M | 306.76M | 133.46M | 101.29M | |
| Change in Working Capital | 163.47M | 162.85M | 146.39M | 737.71M | -41.03M | 603.90M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.39B | 9.49B | 5.98B | 7.26B | 8.80B | 13.95B |
| Enterprise Value | 4.33B | 6.82B | 3.95B | 5.54B | 6.89B | 12.14B |
| Last Close Price | 16.54 | 19.64 | 13.22 | 15.91 | 19.32 | 33.08 |
| PE Ratio | 11.54 | 24.28 | 27.54 | 46.86 | 566.09 | |
| Forward PE | 11.49 | 16.51 | 15.03 | 24.10 | 47.68 | 78.12 |
| PS Ratio | 5.76 | 8.03 | 5.93 | 8.65 | 13.46 | 20.81 |
| PB Ratio | 2.06 | 3.31 | 2.92 | 3.84 | 5.21 | 8.30 |
| P/TBV Ratio | 2.40 | 3.33 | 2.99 | 3.84 | 5.22 | 8.30 |
| P/FCF Ratio | 11.09 | 14.98 | 16.24 | 24.63 | 91.58 | 64.15 |
| P/OCF Ratio | 10.62 | 14.59 | 12.32 | 16.91 | 60.53 | 53.99 |
| PEG Ratio | 1.23 | 0.89 | 0.89 | 0.72 | 0.72 | |
| EV/Sales Ratio | 3.38 | 5.77 | 3.92 | 6.60 | 10.53 | 18.10 |
| EV/EBITDA Ratio | 8.19 | 14.97 | 17.20 | 46.80 | 4,500.15 | 140.14 |
| EV/EBIT Ratio | 9.71 | 18.10 | 24.56 | 67.64 | 164.02 | |
| EV/FCF Ratio | 6.50 | 10.76 | 10.73 | 18.80 | 71.68 | 55.81 |
| Debt / Equity Ratio | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.03 |
| Debt / EBITDA Ratio | 0.06 | 0.05 | 0.16 | 0.27 | 1.69 | 0.47 |
| Debt / FCF Ratio | 0.05 | 0.04 | 0.11 | 0.13 | 0.45 | 0.23 |
| Net Debt / Equity Ratio | -0.99 | -0.99 | -0.97 | -0.94 | -1.11 | -1.12 |
| Net Debt / EBITDA Ratio | -5.79 | -6.23 | -8.63 | -15.11 | -1,229.59 | -21.77 |
| Net Debt / FCF Ratio | -4.68 | -4.48 | -5.38 | -6.07 | -19.59 | -8.67 |
| Asset Turnover | 0.36 | 0.38 | 0.40 | 0.36 | 0.32 | 0.46 |
| Inventory Turnover | 504.22 | 454.35 | ||||
| Quick Ratio | 4.12 | 4.62 | 3.56 | 3.02 | 4.45 | 4.54 |
| Current Ratio | 4.19 | 4.66 | 3.60 | 3.07 | 4.56 | 4.65 |
| Return on Equity (ROE) | 23.94% | 15.35% | 11.04% | 8.77% | 0.96% | -15.34% |
| Return on Assets (ROA) | 7.88% | 7.51% | 3.94% | 2.22% | -0.57% | 3.14% |
| Return on Invested Capital (ROIC) | 71.00% | |||||
| Return on Capital Employed (ROCE) | 14.00% | 13.00% | 7.80% | 4.30% | -1.10% | 4.30% |
| Earnings Yield | 8.66% | 4.12% | 3.63% | 2.13% | 0.18% | -1.21% |
| FCF Yield | 9.01% | 6.68% | 6.16% | 4.06% | 1.09% | 1.56% |
| Dividend Yield | 1.02% | 1.22% | ||||
| Buyback Yield / Dilution | -4.74% | -1.95% | -0.72% | 1.03% | -72.32% | -376.14% |
| Total Shareholder Return | -3.73% | -1.95% | 0.50% | 1.03% | -72.32% | -376.14% |