Latest Ratios: P/E Ratio 16.2x · EV/EBITDA 11.8x · ROE 15.6%. (2019–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.3B | $9.4B | $6.2B | $7.5B | $9.3B | $15.6B | — | — |
| Enterprise Value | $5.7B | $5.5B | $4.0B | $5.3B | $-166628811 | $4.6B | — | — |
| P/E Ratio → | 16.18 | 3.55 | 3.93 | 6.81 | 84.88 | — | — | — |
| P/S Ratio | 5.14 | 1.14 | 0.85 | 1.26 | 2.06 | 3.67 | — | — |
| P/B Ratio | 2.14 | 0.47 | 0.42 | 0.56 | 0.80 | 1.46 | — | — |
| P/FCF | 9.59 | 2.13 | 2.32 | 3.58 | 14.01 | 11.31 | — | — |
| P/OCF | 9.34 | 2.07 | 1.76 | 2.46 | 9.26 | 9.52 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.66 | 0.54 | 0.89 | -0.04 | 1.08 | — | — |
| EV / EBITDA | 11.76 | 1.68 | 2.14 | 5.26 | -1.06 | — | — | — |
| EV / EBIT | 15.64 | 1.72 | 2.17 | 4.34 | -1.42 | — | — | — |
| EV / FCF | — | 1.24 | 1.48 | 2.54 | -0.25 | 3.33 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 85.1% | 85.1% | 83.1% | 82.2% | 83.3% | 87.0% | 87.6% | 86.2% |
| Operating Margin | 29.8% | 29.8% | 15.9% | 9.8% | -2.9% | -24.3% | -48.6% | -51.3% |
| Net Profit Margin | 33.1% | 33.1% | 21.5% | 18.5% | 2.4% | -25.1% | -48.2% | -50.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 15.6% | 15.6% | 11.2% | 8.8% | 1.0% | -25.6% | — | — |
| ROA | 12.5% | 12.5% | 8.5% | 6.7% | 0.8% | -11.4% | -26.9% | -26.7% |
| ROIC | 12.8% | 12.8% | 7.3% | 6.5% | -10.6% | — | — | — |
| ROCE | 13.9% | 13.9% | 8.2% | 4.6% | -1.1% | -14.6% | -44.6% | -58.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.03 | — | — |
| Debt / EBITDA | 0.05 | 0.05 | 0.16 | 0.28 | 1.87 | — | — | — |
| Net Debt / Equity | — | -0.20 | -0.15 | -0.16 | -0.81 | -1.03 | — | — |
| Net Debt / EBITDA | -1.20 | -1.20 | -1.21 | -2.17 | -59.90 | — | — | — |
| Debt / FCF | — | -0.89 | -0.84 | -1.05 | -14.27 | -7.98 | -14.99 | — |
| Interest Coverage | — | — | — | — | — | — | — | — |
Net cash position: cash ($4.1B) exceeds total debt ($158M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.66 | 4.66 | 3.60 | 3.07 | 4.56 | 4.65 | 2.76 | 1.69 |
| Quick Ratio | 4.66 | 4.66 | 3.60 | 3.02 | 4.47 | 4.65 | 2.76 | 1.61 |
| Cash Ratio | 4.56 | 4.56 | 3.50 | 2.96 | 4.36 | 4.39 | 2.64 | 1.54 |
| Asset Turnover | — | 0.34 | 0.38 | 0.33 | 0.30 | 0.31 | 0.38 | 0.53 |
| Inventory Turnover | 515.39 | 515.39 | 407.53 | 5.14 | 2.70 | — | — | 1.67 |
| Days Sales Outstanding | — | 8.23 | 10.17 | 1.03 | 0.80 | 35.28 | 22.89 | 27.61 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | 5.9% | — | 7.5% | — | — | — | — |
| Payout Ratio | 20.2% | 20.2% | — | 51.2% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.2% | 28.2% | 25.4% | 14.7% | 1.2% | — | — | — |
| FCF Yield | 10.4% | 46.9% | 43.1% | 27.9% | 7.1% | 8.8% | — | — |
| Buyback Yield | 0.3% | 1.5% | 26.5% | 1.0% | 9.9% | 0.1% | — | — |
| Total Shareholder Yield | 1.6% | 7.4% | 26.5% | 8.5% | 9.9% | 0.1% | — | — |
| Shares Outstanding | — | $463M | $451M | $451M | $456M | $448M | $458M | $458M |
Regulatory and Macro Sensitivity
Based on reported figures, BZ trades at a TTM P/E of 15.72, which suggests that investors are pricing in a transition from hyper-growth to a more mature, cash-generative phase as the company navigates the current domestic Chinese labor market environment and regulatory landscape.
The current valuation appears to discount the company's historical growth rates, likely reflecting investor caution regarding the sustainability of recruitment demand in a slowing economy. While the forward P/E of 1.59 warrants further investigation into potential earnings revisions, the valuation gap compared to traditional staffing peers suggests the market still views BZ as a platform-scale technology entity rather than a cyclical staffing firm.
According to recent financial statements, BZ's ROIC has remained modest, fluctuating between 0.7% and 3.6% over the last ten quarters, which indicates that the company is still in the process of effectively deploying its massive capital base to generate meaningful returns on invested capital.
The relatively low ROIC, despite high gross margins, suggests that the company's heavy investment in R&D and marketing is not yet yielding proportional returns on capital. Investors should monitor whether management can improve capital allocation efficiency as the platform matures and the need for aggressive user acquisition spending potentially moderates.
As reported in financial statements, BZ maintains a negative cash conversion cycle, reaching -24 days in 2025Q4, which demonstrates the company's structural advantage in collecting payments from enterprise customers well before it incurs the associated costs of platform maintenance and service delivery.
This negative CCC is a hallmark of a high-quality platform model, providing the company with a consistent source of interest-free financing from its own operations. The ability to maintain such efficiency, even during periods of macroeconomic volatility, suggests strong bargaining power over its customer base and a highly optimized billing process.
Based on the most recent quarterly data, BZ maintains a current ratio of 4.66, which provides a substantial liquidity buffer that appears more than sufficient to withstand severe stress scenarios or prolonged downturns in the Chinese labor market's hiring velocity.
The company's liquidity position is bolstered by its $4.1 billion cash reserve, which effectively eliminates near-term refinancing risk and provides management with significant strategic flexibility. This level of liquidity is a critical defensive asset, allowing the firm to maintain operations and R&D investment even if enterprise recruitment budgets face further contraction.
Investors frequently misapply traditional P/E and EV/EBITDA multiples used for legacy staffing agencies to BZ, which obscures the platform's unique ability to generate high-margin, recurring-like revenue through its AI-driven matching model and direct-chat interaction mechanism.
By treating BZ as a traditional staffing firm, the market may overlook the scalability of its digital infrastructure and the operating leverage inherent in its model. Analysts should instead focus on metrics like ARPU and platform engagement density, which better capture the long-term value of the user network than standard staffing industry valuation benchmarks.
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Quick answers to the most common questions about buying BZ stock.
Kanzhun Limited's current P/E ratio is 16.2x. The historical average is 24.8x. This places it at the 75th percentile of its historical range.
Kanzhun Limited's current EV/EBITDA is 11.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.0x.
Kanzhun Limited's return on equity (ROE) is 15.6%. The historical average is 2.2%.
Based on historical data, Kanzhun Limited is trading at a P/E of 16.2x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kanzhun Limited's current dividend yield is 1.28% with a payout ratio of 20.2%.
Kanzhun Limited has 85.1% gross margin and 29.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Kanzhun Limited's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.