KC Technology

Kingsoft Cloud Holdings Limited

$7.61-4.16%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Technology
Industry: Software - Application
Country: China
Market cap: 2.3B USD
Enterprise value: 3.2B USD
Full-time employees: 14,394

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.96 vs a peer median of 0.87), less short-term liquidity (current ratio 1.17 vs a peer median of 1.83) and more debt relative to equity (1.10× vs a peer median of 0.25×)higher risk: bigger price swings (beta 1.96 vs peers 0.87), less liquidity (current ratio 1.17 vs peers 1.83) and more debt vs equity (1.10× vs peers 0.25×)

Ranks #1,141 of 1,612 technology companies (bottom 30%)

See how it ranks against its peers

Worth knowing

Operating loss narrowing. Operating margin -8.1% in 2025, the smallest loss relative to revenue of the last 6 years.
Kingsoft Cloud still lost money on operations in 2025 (margin -8.1%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.
Valuation signals disagree. Cheaper than 87% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Kingsoft Cloud looks cheaper than 87% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Not profitable yet. Reported a loss in the 12 months to December 2025.
Kingsoft Cloud reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

StockQuotient Score

40/ 100▲ 1 since Oct 27 close

Oct 5 39 → Nov 4 40 (+1)

Valuation

Is the price right?

68/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 67 → 68

Share price -10.9%+4
Company's reported figures updated-1
Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ FCF yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-6.2%

SEC filings · 12 months to Dec 2025 · CNY→USD at the current rateNegative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225

EBITDA yield8.7%

SEC filings · 12 months to Dec 2025 · CNY→USD at the current rateReported value50% base weight · Z-score 1.24Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield9.2%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · CNY→USD converted · operating cash flow − capital spendingReported value20% base weight · Z-score 2.35Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield61.2%

SEC filings · latest balance sheet · CNY→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

66/100

Moderate

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 22.8%

Why

Stronger than most peers on:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.30Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth5.3%

SEC filings · 3 years to Dec 2025Reported value33% base weight · Z-score 0.06Sector median: 0.0483 · MAD: 0.0793

Revenue growth22.8%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score 1.40Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

16/100

Weak

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

Operating margin rose 14.3 points to -8.1%

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-8.1%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score -2.03Sector median: 0.0631 · MAD: 0.0710

Return on assets-3.5%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score -1.78Sector median: 0.0293 · MAD: 0.0362

Return on invested capital-4.5%

SEC filings · 12 months to Dec 2025Reported value33% base weight · Z-score -1.31Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin15.7%

SEC filings · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity-10.0%

SEC filings · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last year: ▼ Weaker

Debt up 30%, now more than its cash and investments

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.96

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.95Sector median: 0.8710 · MAD: 0.3700

Current ratio1.17×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.96Sector median: 1.8295 · MAD: 0.6848

Debt / equity1.10×

SEC filings · latest balance sheetReported value33% base weight · Z-score -3.76Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Kingsoft Cloud

Is Kingsoft Cloud getting weaker?: Its latest SEC filing (Apr 23, 2026) was mixed: some things better, some worse: operating margin rose 14.3 points to -8.1%; debt up 30%, now more than its cash and investments. Its overall score is 40/100, up 1 since Oct 28, 2026.
How is Kingsoft Cloud valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 68/100 against 1,711 technology peers. Free cash flow yield 9.2% vs a peer median of 2.7% (stronger than 87% of peers).Free cash flow yield 9.2% vs peers 2.7% (stronger than 87% of peers). Earnings yield -6.2% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -6.2% vs peers 2.2% (weaker than 100% of peers).
Is Kingsoft Cloud growing?: Yes, faster than most of its peers. Growth scores 66/100 against 1,711 technology peers. Revenue growth 22.8% vs a peer median of 8.5% (stronger than 80% of peers).Revenue growth 22.8% vs peers 8.5% (stronger than 80% of peers).
How profitable is Kingsoft Cloud?: Less profitable than most of its peers. Profitability scores 16/100 against 1,711 technology peers. Return on assets -3.5% vs a peer median of 2.9% (weaker than 87% of peers).Return on assets -3.5% vs peers 2.9% (weaker than 87% of peers).
How risky is Kingsoft Cloud?: Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 1.96 vs a peer median of 0.87 (weaker than 93% of peers).Beta 1.96 vs peers 0.87 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Apr 23, 2026 · compared with the year ended Dec 31, 2024

Mixed: some things better, some worse

Operating margin rose 14.3 points to -8.1%
Debt up 30%, now more than its cash and investments

Worth watching: Kingsoft Cloud is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous year	Latest year	Change
Revenue (12 months)	7.8B CNY	9.6B CNY	+22.8%
Net income (12 months)	−2.0B CNY	−936.3M CNY	−52.4%
Operating margin	-22.3%	-8.1%	+14.3 pts
Debt	7.9B CNY	10.3B CNY	+29.6%
Cash	2.6B CNY	6.0B CNY	+127.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in CNY, as reported

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	3.9%	5.3%	12.1%	17.2%	15.7%	▼ 1.5 pts
Operating margin	-20.0%	-27.5%	-29.9%	-22.3%	-8.1%	▲ 14 pts
Net margin	-17.5%	-32.5%	-30.9%	-25.3%	-9.8%	▲ 15 pts
Return on assets (ROA)	-7.5%	-15.4%	-14.4%	-11.2%	-3.5%	▲ 7.7 pts
Return on equity (ROE)	-15.0%	-30.2%	-31.6%	-38.1%	-10.0%	▲ 28 pts
Current ratio	1.65×	1.36×	0.89×	0.75×	1.17×	▲ 57%
Debt to equity	0.13×	0.30×	0.47×	1.53×	1.10×	▼ 28%
Interest coverage	-34.83×	-16.34×	-14.44×	-7.57×	-1.55×	▲ 80%

KC price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

LEENO Industrial Inc.058470.KQ97/ 100

Transcend Information, Inc.2451.TW94/ 100

Joint Stock Company Kaspi.kzKSPI93/ 100

Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.96 vs a peer median of 0.87), less short-term liquidity (current ratio 1.17 vs a peer median of 1.83) and more debt relative to equity (1.10× vs a peer median of 0.25×)higher risk: bigger price swings (beta 1.96 vs peers 0.87), less liquidity (current ratio 1.17 vs peers 1.83) and more debt vs equity (1.10× vs peers 0.25×)

Ranks #1,141 of 1,612 technology companies (bottom 30%)

See how it ranks against its peers

Worth knowing

Operating loss narrowing. Operating margin -8.1% in 2025, the smallest loss relative to revenue of the last 6 years.

Kingsoft Cloud still lost money on operations in 2025 (margin -8.1%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.

Valuation signals disagree. Cheaper than 87% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Kingsoft Cloud looks cheaper than 87% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Not profitable yet. Reported a loss in the 12 months to December 2025.

Kingsoft Cloud reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Questions investors ask about Kingsoft Cloud

Is Kingsoft Cloud getting weaker?

Its latest SEC filing (Apr 23, 2026) was mixed: some things better, some worse: operating margin rose 14.3 points to -8.1%; debt up 30%, now more than its cash and investments. Its overall score is 40/100, up 1 since Oct 28, 2026.

How is Kingsoft Cloud valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 68/100 against 1,711 technology peers. Free cash flow yield 9.2% vs a peer median of 2.7% (stronger than 87% of peers).Free cash flow yield 9.2% vs peers 2.7% (stronger than 87% of peers). Earnings yield -6.2% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -6.2% vs peers 2.2% (weaker than 100% of peers).

Is Kingsoft Cloud growing?

Yes, faster than most of its peers. Growth scores 66/100 against 1,711 technology peers. Revenue growth 22.8% vs a peer median of 8.5% (stronger than 80% of peers).Revenue growth 22.8% vs peers 8.5% (stronger than 80% of peers).

How profitable is Kingsoft Cloud?

Less profitable than most of its peers. Profitability scores 16/100 against 1,711 technology peers. Return on assets -3.5% vs a peer median of 2.9% (weaker than 87% of peers).Return on assets -3.5% vs peers 2.9% (weaker than 87% of peers).

How risky is Kingsoft Cloud?

Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Beta 1.96 vs a peer median of 0.87 (weaker than 93% of peers).Beta 1.96 vs peers 0.87 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

7.8B CNY

9.6B CNY

+22.8%

Net income (12 months)

−2.0B CNY

−936.3M CNY

−52.4%

Operating margin

-22.3%

-8.1%

+14.3 pts

Debt

7.9B CNY

10.3B CNY

+29.6%

Cash

2.6B CNY

6.0B CNY

+127.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

3.9%

5.3%

12.1%

17.2%

15.7%

▼ 1.5 pts

Operating margin

-20.0%

-27.5%

-29.9%

-22.3%

-8.1%

▲ 14 pts

Net margin

-17.5%

-32.5%

-30.9%

-25.3%

-9.8%

▲ 15 pts

Return on assets (ROA)

-7.5%

-15.4%

-14.4%

-11.2%

-3.5%

▲ 7.7 pts

Return on equity (ROE)

-15.0%

-30.2%

-31.6%

-38.1%

-10.0%

▲ 28 pts

Current ratio

1.65×

1.36×

0.89×

0.75×

1.17×

▲ 57%

Debt to equity

0.13×

0.30×

0.47×

1.53×

1.10×

▼ 28%

Interest coverage

-34.83×

-16.34×

-14.44×

-7.57×

-1.55×

▲ 80%