Kanzhun Ltd Financials
Kanzhun Ltd (BZ) reported $1.2B in revenue for fiscal year 2025, up 17.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
BZ's asset-light economics are turning consistently high gross margins into much faster profit and cash growth.
Across the last three fiscal years, operating margin expanded by about20.0% points while gross margin stayed above82.0% . Because R&D still ran at$236M in FY2025, the earnings jump looks more like fixed-cost absorption in a high-margin model than a simple pullback in spending.
FY2025 operating cash flow of
The balance sheet is becoming more self-funded: debt-to-equity fell from 0.3x to 0.2x, so scaling has not required heavier leverage. Retained earnings moved from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Kanzhun Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Kanzhun Ltd has an operating margin of 29.8%, meaning the company retains $30 of operating profit per $100 of revenue. This strong profitability earns a score of 66/100, reflecting efficient cost management and pricing power. This is up from 16.0% the prior year.
Kanzhun Ltd's revenue surged 17.3% year-over-year to $1.2B, reflecting rapid business expansion. This strong growth earns a score of 80/100.
Kanzhun Ltd carries a low D/E ratio of 0.22, meaning only $0.22 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 4.66, Kanzhun Ltd holds $4.66 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.
Kanzhun Ltd converts 53.6% of revenue into free cash flow ($633.9M). This strong cash generation earns a score of 98/100.
Kanzhun Ltd's ROE of 13.7% shows moderate profitability relative to equity, earning a score of 50/100. This is up from 10.5% the prior year.
Kanzhun Ltd scores 9.39, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($8.4B) relative to total liabilities ($641.6M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Kanzhun Ltd passes 6 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Kanzhun Ltd generates $1.66 in operating cash flow ($651.0M OCF vs $391.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Kanzhun Ltd generated $1.2B in revenue in fiscal year 2025. This represents an increase of 17.3% from the prior year.
Kanzhun Ltd's EBITDA was $426.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 85.8% from the prior year.
Kanzhun Ltd reported $391.1M in net income in fiscal year 2025. This represents an increase of 82.2% from the prior year.
Kanzhun Ltd earned $0.42 per diluted share (EPS) in fiscal year 2025. This represents an increase of 75.0% from the prior year.
Cash & Balance Sheet
Kanzhun Ltd generated $633.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 72.2% from the prior year.
Kanzhun Ltd held $587.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Kanzhun Ltd's gross margin was 85.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.9 percentage points from the prior year.
Kanzhun Ltd's operating margin was 29.8% in fiscal year 2025, reflecting core business profitability. This is up 13.8 percentage points from the prior year.
Kanzhun Ltd's net profit margin was 33.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 11.8 percentage points from the prior year.
Kanzhun Ltd's ROE was 13.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.1 percentage points from the prior year.
Capital Allocation
Kanzhun Ltd invested $236.5M in research and development in fiscal year 2025. This represents a decrease of 4.9% from the prior year.
Kanzhun Ltd spent $20.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 91.0% from the prior year.
Kanzhun Ltd invested $17.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 85.5% from the prior year.
BZ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Revenue | $1.2B+17.3% | $1.0B+20.2% | $838.3M+28.2% | $654.0M-2.1% | $668.4M |
| Cost of Revenue | $176.6M+4.0% | $169.8M+13.8% | $149.3M+36.4% | $109.4M+25.7% | $87.0M |
| Gross Profit | $1.0B+20.0% | $837.9M+21.6% | $689.0M+26.5% | $544.6M-6.3% | $581.3M |
| R&D Expenses | $236.5M-4.9% | $248.8M+14.4% | $217.4M+26.8% | $171.5M+32.9% | $129.0M |
| SG&A Expenses | $171.5M+14.4% | $149.9M+31.1% | $114.3M+9.6% | $104.3M-66.6% | $312.5M |
| Operating Income | $352.4M+119.3% | $160.7M+96.4% | $81.8M+535.7% | -$18.8M+88.5% | -$162.6M |
| Income Tax | $72.9M+100.3% | $36.4M+110.8% | $17.3M+1120.9% | $1.4M-84.9% | $9.3M |
| Net Income | $391.1M+82.2% | $214.7M+38.7% | $154.8M+895.8% | $15.5M+109.3% | -$168.1M |
| EPS (Diluted) | $0.42+75.0% | $0.24+41.2% | $0.17+750.0% | $0.02 | N/A |
Not reported in any period shown, so not listed: Interest Expense.
BZ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Total Assets | $3.5B+32.8% | $2.6B+4.7% | $2.5B+17.5% | $2.1B+0.4% | $2.1B |
| Current Assets | $2.9B+40.7% | $2.1B+9.8% | $1.9B-6.0% | $2.0B-1.4% | $2.0B |
| Cash & Equivalents | $587.0M+67.8% | $349.8M+0.4% | $348.3M-75.4% | $1.4B-20.6% | $1.8B |
| Inventory | $342K-18.0% | $417K | N/A | N/A | N/A |
| Accounts Receivable | $4.7M-15.0% | $5.6M+136.8% | $2.4M+64.8% | $1.4M+810.8% | $157K |
| Goodwill | $934K+4.5% | $894K+11.6% | $801K-2.9% | $825K | N/A |
| Total Liabilities | $641.6M+7.7% | $595.7M-6.2% | $635.3M+37.5% | $461.9M-0.8% | $465.7M |
| Current Liabilities | $625.1M+8.8% | $574.3M-6.4% | $613.7M+39.7% | $439.5M+0.6% | $436.9M |
| Total Equity | $2.9B+40.6% | $2.0B+7.7% | $1.9B+12.1% | $1.7B+0.8% | $1.7B |
| Retained Earnings | $175.1M+239.3% | -$125.7M+64.2% | -$351.0M+32.5% | -$520.0M+10.3% | -$579.5M |
Not reported in any period shown, so not listed: Long-Term Debt.
BZ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Operating Cash Flow | $651.0M+34.1% | $485.3M+13.1% | $429.2M+195.1% | $145.4M-43.5% | $257.6M |
| Capital Expenditures | $17.0M-85.5% | $117.3M-12.9% | $134.6M+172.9% | $49.3M+20.9% | $40.8M |
| Free Cash Flow | $633.9M+72.2% | $368.0M+24.9% | $294.6M+206.5% | $96.1M-55.7% | $216.8M |
| Investing Cash Flow | -$659.0M-138.5% | -$276.3M+80.3% | -$1.4B-242.8% | -$408.4M-332.4% | -$94.4M |
| Financing Cash Flow | $236.6M+218.2% | -$200.1M-240.7% | -$58.7M+39.5% | -$97.0M-109.6% | $1.0B |
| Dividends Paid | $79.1M | $0-100.0% | $79.3M | $0 | $0 |
| Share Buybacks | $20.4M-91.0% | $226.3M+2136.6% | $10.1M | N/A | $1.8M |
BZ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| Gross Margin | 85.1%+1.9pp | 83.2%+1.0pp | 82.2%-1.1pp | 83.3%-3.7pp | 87.0% |
| Operating Margin | 29.8%+13.8pp | 16.0%+6.2pp | 9.8%+12.6pp | -2.9%+21.5pp | -24.3% |
| Net Margin | 33.1%+11.8pp | 21.3%+2.8pp | 18.5%+16.1pp | 2.4%+27.5pp | -25.1% |
| Return on Equity | 13.7%+3.1pp | 10.5%+2.3pp | 8.2%+7.3pp | 0.9%+10.9pp | -10.0% |
| Return on Assets | 11.1%+3.0pp | 8.1%+2.0pp | 6.1%+5.4pp | 0.7%+8.6pp | -7.8% |
| Current Ratio | 4.66+1.1x | 3.60+0.5x | 3.07-1.5x | 4.56-0.1x | 4.65 |
| Debt-to-Equity | 0.22-0.1x | 0.290.0x | 0.34+0.1x | 0.270.0x | 0.28 |
| FCF Margin | 53.6%+17.1pp | 36.5%+1.4pp | 35.1%+20.4pp | 14.7%-17.7pp | 32.4% |
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Where Kanzhun Ltd Ranks
Frequently Asked Questions
What is Kanzhun Ltd's annual revenue?
Kanzhun Ltd (BZ) reported $1.2B in total revenue for fiscal year 2025. This represents a 17.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Kanzhun Ltd's revenue growing?
Kanzhun Ltd (BZ) revenue grew by 17.3% year-over-year, from $1.0B to $1.2B in fiscal year 2025.
Is Kanzhun Ltd profitable?
Yes, Kanzhun Ltd (BZ) reported a net income of $391.1M in fiscal year 2025, with a net profit margin of 33.1%.
What is Kanzhun Ltd's EBITDA?
Kanzhun Ltd (BZ) had EBITDA of $426.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Kanzhun Ltd's gross margin?
Kanzhun Ltd (BZ) had a gross margin of 85.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Kanzhun Ltd's operating margin?
Kanzhun Ltd (BZ) had an operating margin of 29.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Kanzhun Ltd's net profit margin?
Kanzhun Ltd (BZ) had a net profit margin of 33.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Kanzhun Ltd's return on equity (ROE)?
Kanzhun Ltd (BZ) has a return on equity of 13.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kanzhun Ltd's free cash flow?
Kanzhun Ltd (BZ) generated $633.9M in free cash flow during fiscal year 2025. This represents a 72.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Kanzhun Ltd's operating cash flow?
Kanzhun Ltd (BZ) generated $651.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kanzhun Ltd's total assets?
Kanzhun Ltd (BZ) had $3.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kanzhun Ltd's capital expenditures?
Kanzhun Ltd (BZ) invested $17.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Kanzhun Ltd spend on research and development?
Kanzhun Ltd (BZ) invested $236.5M in research and development during fiscal year 2025.
What is Kanzhun Ltd's current ratio?
Kanzhun Ltd (BZ) had a current ratio of 4.66 as of fiscal year 2025, which is generally considered healthy.
What is Kanzhun Ltd's debt-to-equity ratio?
Kanzhun Ltd (BZ) had a debt-to-equity ratio of 0.22 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kanzhun Ltd's return on assets (ROA)?
Kanzhun Ltd (BZ) had a return on assets of 11.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kanzhun Ltd's Altman Z-Score?
Kanzhun Ltd (BZ) has an Altman Z-Score of 9.39, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Kanzhun Ltd's Piotroski F-Score?
Kanzhun Ltd (BZ) has a Piotroski F-Score of 6 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kanzhun Ltd's earnings high quality?
Kanzhun Ltd (BZ) has an earnings quality ratio of 1.66x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Kanzhun Ltd?
Kanzhun Ltd (BZ) scores 76 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.