BZ

MKT CAP:$6B

Kanzhun Limited

Market Cap

$6B

Industrials·Staffing & Employment Services·🇨🇳 China·NASDAQ

Industrials·Staffing·🇨🇳·NASDAQ

Stock Price

$13.82-$7.09 (-33.91%)

Apr 21, 2026

Company Details

Kanzhun Limited operates an online recruitment platform, BOSS Zhipin in the People's Republic of China. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations. The compan...

CEO

Peng Zhao

IPO Date

Jun 11, 2021

Website

ir.zhipin.com

Key Metrics TTM

Revenue

$1.2B

+12.0% YoY

Net Income

$398M

EPS (Diluted)

$0.86

Free Cash Flow

$486M

Revenue / Share

$2.52

Gross Margin

85.1%

Operating Margin

30.2%

Net Margin

33.1%

FCF Margin

40.4%

P/S

5.3x

P/E

15.9x

Earnings Reports

FY 2025

Dec 30, 2025

$1.2BEPS $0.84

Q4 2025

Mar 18, 2026

$300M+12.4%EPS $0.20

Q3 2025

Nov 18, 2025

$316M+13.2%EPS $0.25

Q2 2025

Aug 20, 2025

$307M+9.7%EPS $0.24

Q1 2025

May 22, 2025

$281M+12.9%EPS $0.17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$166M	$140M	-$476.2K
Q2 22	$163M	$137M	$11M
Q3 22	$172M	$143M	$20M
Q4 22	$158M	$129M	-$50M
Q1 23	$187M	$151M	-$11M
Q2 23	$217M	$178M	$26M
Q3 23	$235M	$196M	$38M
Q4 23	$231M	$191M	$32M
Q1 24	$249M	$206M	$15M
Q2 24	$280M	$234M	$52M
Q3 24	$279M	$233M	$48M
Q4 24	$266M	$221M	$56M
Q1 25	$281M	$236M	$64M
Q2 25	$307M	$262M	$95M
Q3 25	$316M	$271M	$100M
Q4 25	$300M	$255M	$104M

Valuation

Quarter	P/S	P/E
Q1 22	16.5x	—
Q2 22	18.8x	143.0x
Q3 22	11.4x	98.5x
Q4 22	16.3x	685.8x
Q1 23	12.7x	389.1x
Q2 23	9.2x	125.3x
Q3 23	8.5x	79.6x
Q4 23	7.6x	41.3x
Q1 24	8.8x	42.7x
Q2 24	8.4x	40.3x
Q3 24	7.5x	36.5x
Q4 24	5.7x	26.6x
Q1 25	7.5x	30.8x
Q2 25	6.9x	24.7x
Q3 25	9.2x	29.7x
Q4 25	8.0x	24.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$78M	$49M
Q1 22	$43M	$43M
Q2 22	$27M	$27M
Q3 22	$54M	$54M
Q4 22	$23M	-$27M
Q1 23	$79M	$79M
Q2 23	$112M	$112M
Q3 23	$119M	$119M
Q4 23	$135M	-$4M
Q1 24	$132M	$69M
Q2 24	$127M	$79M
Q3 24	$119M	$119M
Q4 24	$140M	$15M
Q1 25	$147M	$141M
Q2 25	$154M	$159M
Q3 25	$172M	$172M

Capital Expenditures

Quarter	CapEx
Q4 21	$29M
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$50M
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$140M
Q1 24	$63M
Q2 24	$48M
Q3 24	$0
Q4 24	$125M
Q1 25	$5M
Q2 25	$5M
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+44.3%	+17.8%
Q2 22	-4.8%	-60.0%
Q3 22	-2.7%	+15.5%
Q4 22	-0.8%	+69.9%
Q1 23	+12.3%	+18.7%
Q2 23	+33.7%	+26.7%
Q3 23	+36.3%	+29.3%
Q4 23	+46.0%	-4.6%
Q1 24	+33.4%	+18.1%
Q2 24	+28.8%	+18.7%
Q3 24	+19.0%	+17.5%
Q4 24	+15.4%	+6.3%
Q1 25	+12.9%	-7.3%
Q2 25	+9.7%	-6.9%
Q3 25	+13.2%	-6.7%
Q4 25	+12.4%	-7.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$54M	33.8%
Q1 22	$19M	11.7%
Q2 22	$22M	13.5%
Q3 22	$24M	14.0%
Q4 22	$36M	22.6%
Q1 23	$31M	16.6%
Q2 23	$38M	17.4%
Q3 23	$42M	17.9%
Q4 23	$43M	18.8%
Q1 24	$42M	17.0%
Q2 24	$44M	15.7%
Q3 24	$40M	14.4%
Q4 24	$41M	15.3%
Q1 25	$37M	13.1%
Q2 25	$34M	10.9%
Q3 25	$32M	10.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$42M	$23M	$76M	—
Q2 22	$45M	$23M	$58M	—
Q3 22	$42M	$23M	$58M	—
Q4 22	$43M	$36M	$100M	—
Q1 23	$49M	$24M	$92M	—
Q2 23	$53M	$30M	$69M	—
Q3 23	$61M	$32M	$67M	—
Q4 23	$63M	$33M	$63M	—
Q1 24	$68M	$40M	$85M	—
Q2 24	$65M	$38M	$80M	—
Q3 24	$68M	$42M	$76M	—
Q4 24	$64M	$40M	$62M	—
Q1 25	$62M	$39M	$72M	—
Q2 25	$61M	$45M	$61M	—
Q3 25	$60M	$54M	$58M	—
Q4 25	$58M	—	—	$93M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.7B	$156M	$1.8B
Q2 22	$1.8B	$119M	$1.9B
Q3 22	$1.6B	$404M	$2.0B
Q4 22	$1.4B	$505M	$1.9B
Q1 23	$914M	$1.1B	$2.0B
Q2 23	$400M	$1.5B	$1.9B
Q3 23	$357M	$1.5B	$1.9B
Q4 23	$361M	$1.5B	$1.9B
Q1 24	$401M	$1.3B	$1.7B
Q2 24	$507M	$1.6B	$2.1B
Q3 24	$411M	$1.7B	$2.1B
Q4 24	$373M	$1.8B	$2.1B
Q1 25	$408M	$1.8B	$2.2B
Q2 25	$462M	$1.9B	$2.3B
Q3 25	$686M	$2.1B	$2.8B
Q4 25	$600M	$2.3B	$2.9B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	435M	-5.8%	+8.7%
Q2 22	458M	+5.3%	+6.0%
Q3 22	458M	0.0%	-1.3%
Q4 22	432M	-5.6%	-6.3%
Q1 23	454M	+4.9%	+4.3%
Q2 23	450M	-0.8%	-1.7%
Q3 23	450M	-0.0%	-1.8%
Q4 23	452M	+0.4%	+4.5%
Q1 24	454M	+0.4%	-0.0%
Q2 24	462M	+1.8%	+2.7%
Q3 24	453M	-1.9%	+0.8%
Q4 24	449M	-0.9%	-0.6%
Q1 25	448M	-0.3%	-1.3%
Q2 25	448M	0.0%	-3.1%
Q3 25	475M	+6.0%	+4.7%
Q4 25	478M	+0.7%	+6.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$34.4K	5K
Q2 22	$33.6K	5K
Q3 22	$35.6K	5K
Q4 22	$28.2K	6K
Q1 23	$33.3K	6K
Q2 23	$38.8K	6K
Q3 23	$41.9K	6K
Q4 23	$43.2K	5K
Q1 24	$46.6K	5K
Q2 24	$52.4K	5K
Q3 24	$52.2K	5K
Q4 24	$46.8K	6K
Q1 25	$49.4K	6K
Q2 25	$54.0K	6K
Q3 25	$55.6K	6K
Q4 25	$52.7K	6K

Revenue / Employee