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Kanzhun Limited

Rank #236Capital Return

BZ · Nasdaq · Communication Services

Kanzhun Limited (BZ) — Rank #236 by gross profitability (GP/assets 0.29) · ROE 13.7% · Piotroski F-Score 6 / 9.

As-of 2026-09-15 · CIK 0001842827 · all metrics point-in-time as of the filing date.

About

Kanzhun Limited, together with its subsidiaries, operates an online recruitment platform in the People's Republic of China.

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It offers job seeking services that allow job seekers to receive job recommendations, initiate direct chats, and deliver resumes upon mutual consent, as well as value-added tools. The company also provides direct recruitment services to enterprise users to post jobs, receive personalized candidate recommendations, engage in direct communication, and receive resumes upon mutual consent. In addition, it offers online recruitment services through BOSS Zhipin, a mobile app; and management consultancy and technical services.

Kanzhun Limited was founded in 2013 and is headquartered in Beijing, the People's Republic of China.

Industry
Internet Content & Information
Sector
Communication Services
State
E9
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

BZ-55.8% · -15.1% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$6.77B

P/E (annual)

5.1

P/S (annual)

0.8

P/B

0.3

P/OCF (annual)

1.5

Shareholder Yield

6.2%

Employees

4,884

Industry

Internet Content & Information

Exchange

Nasdaq

Signal Flags

2 green1 yellow
Operating leverage expandingOperating income growing faster than revenue
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

1/1 pass
GP / assets
0.29
Return on equity
13.7%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.22
Current ratio
4.66×
Net cash
$15.45B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
11.0%

Growth

2/2 pass
Revenue growth
12.4%
Piotroski F-Score
6 / 9
Share dilution
2.0%

Terry Smith quality gate

Passes 3/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

-19.8%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 2.0% — per-share value needs a total required return of -17.8% once share-count change is priced in.

vs. own 6-year median revenue growth: 27.8%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

-22.3%

r = 10% (base)

-19.8%

r = 12%

-17.6%

Net debt / market cap: -110.3%

Note: current FCF margin is 1.7σ above its historical mean — implied growth may understate valuation risk if the margin reverts.

Base FCF: $4.4B3Y mean FCF: $3.1B

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

4.6xCheap
4.6xmed 12.4x149.2x

P / S

Price / revenue per share

1.5xCheap
1.5xmed 2.1x3.6x

P / B

Price / book value per share

0.6xCheap
0.6xmed 1.1x1.4x

P / GP

Price / gross profit per share

1.8xCheap
1.8xmed 2.4x4.3x

P / FCF

Price / free cash flow per share

2.8xCheap
2.8xmed 6.8x24.6x

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.29

Primary signal (Novy-Marx).

8th of 14 SIC 7370 peers

Return on equity

13.7%

Gross margin

85.1%

2nd of 14 SIC 7370 peers

Revenue growth (YoY)

12.4%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

22.4%

Revenue CAGR (5Y)

33.6%

Earnings CAGR (3Y)

194.4%

FCF CAGR (3Y)

88.4%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.22

3rd of 13 SIC 7370 peers (best = lowest)

Current ratio

4.66×

2nd of 14 SIC 7370 peers

Quick ratio

3.11×

Net cash

$15.45B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$4.43B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.62

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

11.0%

Stock-based comp intensity.

Dividend safety

Composite score

3.0 / 5

Good
Payout ratio
20.2%5/5 Strong
FCF coverage
8.02×5/5 Strong
Dividend growth streak
0 yr0/5 Weak
Balance-sheet health
D/E 0.22 · IC N/A2/5 Fair

Piotroski F-Score

F-Score

6 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

20202025
Hypergrowth
Value
Capital Return
View full financial statements →