Logo

BZ

Kanzhun Limited

BZ

Kanzhun Limited • NASDAQ
$22.10 ▲ 0.82% (+0.18)
Market Cap $4.90 B
52w High $25.26
52w Low $12.85
Dividend Yield 0.17%
P/E 28.7
Volume 1.15M
Outstanding Shares 221.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.163B ▲ $1.168B ▲ $806.633M ▲ 37.287% ▲ $3.5 ▲ $687.123M ▲
Q2-2025 $2.102B ▲ $1.144B ▼ $716.398M ▲ 34.075% ▲ $3.32 ▲ $651.201M ▲
Q1-2025 $1.923B ▲ $1.173B ▲ $518.134M ▲ 26.94% ▲ $2.38 ▲ $439.785M ▲
Q4-2024 $1.824B ▼ $1.129B ▼ $449.608M ▼ 24.655% ▲ $2 ▼ $380.561M ▲
Q3-2024 $1.912B $1.267B $468.372M 24.502% $2.12 $330.183M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $19.214B ▲ $24.157B ▲ $4.871B ▲ $19.196B ▲
Q2-2025 $16.022B ▲ $21.184B ▲ $4.347B ▼ $16.748B ▲
Q1-2025 $14.785B ▲ $20.388B ▲ $4.531B ▲ $15.762B ▲
Q4-2024 $14.681B ▲ $19.311B ▲ $4.348B ▲ $14.867B ▲
Q3-2024 $14.599B $18.813B $4.18B $14.634B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $806.633M ▲ $1.174B ▲ $-1.667B ▼ $2.053B ▲ $1.539B ▲ $1.174B ▲
Q2-2025 $716.398M ▲ $1.052B ▲ $-824.453M ▼ $144.272M ▲ $369.086M ▲ $1.088B ▲
Q1-2025 $518.134M ▲ $1.003B ▲ $-678.826M ▲ $-85.994M ▲ $237.33M ▲ $966.576M ▲
Q4-2024 $449.608M ▼ $956.108M ▲ $-723.128M ▼ $-520.351M ▲ $-263.068M ▲ $100.061M ▼
Q3-2024 $468.372M $812.29M $-698M $-753.763M $-656.232M $812.29M

Revenue by Products

Product Q2-2022Q4-2022
Others
Others
 $20.00M ▲$30.00M ▲
Online Recruitment Services To Enterprises Customers
Online Recruitment Services To Enterprises Customers
 $2.23Bn ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Kanzhun’s income statement shows a clear transition from an early-stage, loss-making platform into a profitable, scaled business. Revenue has grown strongly each year, and gross profit has risen in line, suggesting the core business model is economically attractive. After several years of operating and net losses, the company has now delivered solid and growing operating profit and net income for multiple years in a row. This shift points to better cost control, improved monetization of its user base, and increasing operating leverage as the platform grows. Overall, the earnings profile has moved from “investment mode” to “profitable growth,” which is a meaningful structural change in the story.

Balance Sheet

Balance Sheet The balance sheet looks conservative and steadily stronger over time. Total assets have expanded significantly, reflecting growth in the business and likely investments in technology and operations. Equity has moved from negative to clearly positive, which signals that accumulated losses have been absorbed and retained profits are now building up. Debt levels are very low relative to the size of the company, so financial leverage risk appears limited. Cash was extremely high earlier and has since come down to more normal levels, but still looks healthy, suggesting the company had a sizable financial cushion and is gradually putting capital to work rather than relying on borrowing.

Cash Flow

Cash Flow Cash generation is a notable strength. Operating cash flow has grown consistently, tracking the improvement in profitability and confirming that reported earnings are backed by real cash. Free cash flow has been positive throughout the entire period and has increased meaningfully, even as the company continues to spend on capital investments. Capital spending itself remains modest relative to the overall scale of the business, indicating that Kanzhun can invest in its platform and technology without straining its finances. Overall, the cash flow profile suggests a business that is both scalable and self-funding.

Competitive Edge

Competitive Edge Kanzhun operates one of China’s leading online recruitment platforms, with a distinctive focus on mobile, direct messaging between job seekers and hiring managers. This “chat-first” model, combined with a freemium approach, has helped it build a very large, active user base on both sides of the marketplace. That scale creates powerful network effects: more candidates attract more employers, which in turn attract more candidates, making it difficult for smaller rivals to catch up. Its emphasis on small and mid-sized businesses and on blue-collar roles further differentiates it from more traditional white-collar job boards. At the same time, the company operates in a highly competitive and regulated market, is exposed to swings in the Chinese labor economy, and faces ongoing pressure from both specialized recruitment platforms and large internet ecosystems that can cross-sell recruitment services.

Innovation and R&D

Innovation and R&D Innovation is central to Kanzhun’s strategy. The platform is built around AI-driven matching, recommendation, and productivity tools that aim to make hiring and job hunting faster and more effective. Examples include AI features for improving resumes and job descriptions, tools to help candidates practice interviews, and support for recruiters through interview summaries and better candidate targeting. These capabilities are fueled by a large and growing pool of interaction data, which can improve the underlying models over time and deepen the company’s data advantage. Kanzhun is also experimenting beyond its core, such as expanding in blue-collar recruitment via acquisitions, exploring overseas markets, and testing adjacent products like a dating app. This push into new uses for its technology offers upside but also introduces execution and focus risks as the company stretches beyond its original niche.

Summary

Kanzhun has evolved from a fast-growing but loss-making platform into a profitable, cash-generative online recruitment leader in China. The income statement, balance sheet, and cash flows now tell a consistent story of a business with solid unit economics, low financial leverage, and ample internal funding for growth. Its competitive edge rests on a large, engaged user base, a mobile-first direct chat model, and increasingly sophisticated AI tools, all of which reinforce its network effects and data moat. Looking forward, the main opportunities lie in deeper monetization of its platform, expansion into blue-collar and international markets, and continued AI innovation, while key risks center on competition, macro and regulatory conditions in China, and the challenge of executing on multiple growth initiatives at once without diluting its core strengths.

NEWS

November 18, 2025 · 5:57 AM UTC

KANZHUN LIMITED Announces Third Quarter 2025 Financial Results

Read more

November 6, 2025 · 5:00 AM UTC

KANZHUN LIMITED to Report Third Quarter 2025 Results on November 18, 2025

Read more