NASDAQ : KC
Kingsoft Cloud Holdings Limited — Financial statements
Technology · Software - Application · China
Last price 7.77 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.33B
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Financial statements
Kingsoft Cloud Holdings Limited (KC) reported revenue of 11.02B CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 11.02B | 9.56B | 7.79B | 7.05B | 8.18B | 9.06B |
| Other Revenue | 152.00K | 1.73M | 2.85M | 3.88M | ||
| Revenue | 11.02B | 9.56B | 7.79B | 7.05B | 8.18B | 9.06B |
| Cost of Revenue | 9.36B | 8.06B | 6.44B | 6.20B | 7.75B | 8.71B |
| Gross Profit | 1.66B | 1.50B | 1.34B | 850.17M | 429.54M | 351.29M |
| Selling, General & Admin | 1.24B | 1.47B | 1.31B | 1.52B | 1.71B | 1.12B |
| Research & Development | 773.07M | 810.30M | 845.99M | 784.81M | 971.22M | 1.04B |
| Operating Expenses | 2.01B | 2.28B | 2.16B | 2.31B | 2.68B | 2.16B |
| Operating Income | -354.83M | -772.91M | -819.29M | -1.45B | -2.25B | -1.81B |
| Interest Expense | -610.84M | -498.05M | -229.71M | -146.03M | -137.81M | -52.04M |
| Interest & Investment Income | 122.34M | 80.86M | 27.01M | 78.41M | 80.74M | 71.94M |
| Earnings From Equity Investments | 47.00K | 1.24M | 668.00K | 1.69M | ||
| Currency Exchange Gain (Loss) | 44.51M | 49.93M | -21.95M | -57.21M | -334.63M | 37.82M |
| Other Non Operating Income (Expenses) | 228.41M | 245.54M | -6.38M | 100.36M | 23.01M | 87.94M |
| EBT Excluding Unusual Items | -570.36M | -893.40M | -1.05B | -1.48B | -2.62B | -1.67B |
| Gain (Loss) on Sale of Investments | 23.25M | -11.19M | -25.95M | -15.29M | 92.86M | |
| Gain (Loss) on Sale of Assets | 6.02M | 7.11M | ||||
| Asset Writedown | -919.72M | -653.67M | ||||
| Other Unusual Items | -54.50M | -54.50M | -14.43M | -28.52M | -9.25M | |
| Pretax Income | -601.62M | -947.89M | -1.98B | -2.17B | -2.66B | -1.58B |
| Income Tax Expense | 5.80M | -4.20M | -1.52M | 17.96M | 24.47M | 15.74M |
| Earnings From Continuing Operations | -607.42M | -943.69M | -1.98B | -2.18B | -2.69B | -1.59B |
| Minority Interest in Earnings | 5.66M | 7.44M | 12.36M | 7.31M | 30.20M | 3.04M |
| Net Income | -601.76M | -936.25M | -1.97B | -2.18B | -2.66B | -1.59B |
| Net Income to Common | -601.76M | -936.25M | -1.97B | -2.18B | -2.66B | -1.59B |
| Shares Outstanding (Basic) | 296.79M | 273.80M | 243.87M | 237.22M | 241.59M | 229.45M |
| Shares Outstanding (Diluted) | 296.79M | 273.80M | 243.87M | 237.22M | 241.59M | 229.45M |
| EPS (Basic) | -2.03 | -3.42 | -8.06 | -9.17 | -11.00 | -6.92 |
| EPS (Diluted) | -2.03 | -3.42 | -8.06 | -9.17 | -11.00 | -6.92 |
| Free Cash Flow | 1.40B | -941.34M | -3.04B | -2.13B | -1.23B | -1.43B |
| Free Cash Flow Per Share | 4.72 | -3.44 | -12.48 | -8.97 | -5.09 | -6.24 |
| Gross Margin | 15.05% | 15.73% | 17.22% | 12.06% | 5.25% | 3.88% |
| Operating Margin | -3.22% | -8.09% | -10.52% | -20.64% | -27.52% | -20.00% |
| Profit Margin | -5.46% | -9.79% | -25.26% | -30.88% | -32.50% | -17.53% |
| Free Cash Flow Margin | 12.73% | -9.85% | -39.09% | -30.19% | -15.03% | -15.81% |
| EBITDA | 2.97B | 1.71B | 443.80M | -514.40M | -1.09B | -956.79M |
| EBITDA Margin | 27.00% | 17.86% | 5.70% | -7.30% | -13.37% | -10.56% |
| D&A For EBITDA | 3.33B | 2.48B | 1.26B | 940.48M | 1.16B | 855.60M |
| EBIT | -354.83M | -772.91M | -819.29M | -1.45B | -2.25B | -1.81B |
| EBIT Margin | -3.22% | -8.09% | -10.52% | -20.64% | -27.52% | -20.00% |
| Revenue as Reported | 11.02B | 9.56B | 7.79B | 7.05B | 8.18B | 9.06B |
| Advertising Expenses | 9.51M | 24.07M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 4.67B | 6.02B | 2.65B | 2.26B | 3.42B | 4.22B |
| Short-Term Investments | 90.42M | 1.25B | 2.49B | |||
| Cash & Short-Term Investments | 4.67B | 6.02B | 2.74B | 2.26B | 4.67B | 6.71B |
| Accounts Receivable | 3.14B | 2.96B | 2.43B | 2.34B | 3.14B | 4.33B |
| Other Receivables | 33.01M | 65.89M | 12.44M | 25.70M | 70.41M | |
| Receivables | 3.14B | 2.99B | 2.49B | 2.35B | 3.16B | 4.40B |
| Restricted Cash | 54.96M | 99.19M | 81.34M | 234.19M | 114.56M | 239.09M |
| Other Current Assets | 3.12B | 1.92B | 1.53B | 1.26B | 1.10B | 1.07B |
| Total Current Assets | 10.98B | 11.02B | 6.84B | 6.10B | 9.05B | 12.41B |
| Property, Plant & Equipment | 13.92B | 10.19B | 4.77B | 2.34B | 2.35B | 2.62B |
| Long-Term Investments | 336.50M | 234.17M | 234.18M | 259.93M | 273.58M | 207.17M |
| Goodwill | 4.61B | 4.61B | 4.61B | 4.61B | 4.61B | 4.63B |
| Other Intangible Assets | 445.82M | 532.77M | 694.88M | 834.48M | 1.01B | 1.17B |
| Long-Term Accounts Receivable | 56.26M | 5.76M | 5.76M | |||
| Long-Term Deferred Tax Assets | 7.80M | |||||
| Other Long-Term Assets | 419.05M | 139.84M | 449.98M | 870.78M | 21.26M | 29.07M |
| Total Assets | 30.70B | 26.73B | 17.59B | 15.07B | 17.32B | 21.08B |
| Accounts Payable | 2.43B | 2.01B | 1.88B | 1.81B | 2.30B | 2.94B |
| Accrued Expenses | 3.79B | 1.19B | 1.10B | 941.05M | 969.90M | 808.08M |
| Short-Term Debt | 3.26B | 3.35B | 2.23B | 1.11B | 909.50M | 1.35B |
| Current Portion of Long-Term Debt | 265.67M | 1.51B | 863.22M | 340.13M | 736.21M | |
| Current Portion of Leases | 97.00M | 1.31B | 546.12M | 114.92M | 136.72M | 108.59M |
| Current Income Taxes Payable | 67.75M | 73.31M | 69.22M | 63.96M | 51.89M | 60.22M |
| Current Unearned Revenue | 274.24M | 492.18M | 438.12M | 428.72M | 387.44M | |
| Other Current Liabilities | 1.22B | 948.16M | 1.34B | 1.49B | 1.52B | 1.13B |
| Total Current Liabilities | 10.86B | 9.42B | 9.16B | 6.83B | 6.66B | 7.52B |
| Long-Term Debt | 3.42B | 3.02B | 1.66B | 100.00M | 413.46M | 472.88M |
| Long-Term Leases | 4.24B | 2.60B | 762.86M | 396.65M | 303.87M | 158.29M |
| Long-Term Unearned Revenue | 2.74M | 3.05M | 87.18M | 104.16M | 6.97M | |
| Long-Term Deferred Tax Liabilities | 61.27M | 61.91M | 101.68M | 142.56M | 167.05M | 205.89M |
| Other Long-Term Liabilities | 3.22B | 2.30B | 399.73M | 269.38M | 85.56M | 1.23B |
| Total Liabilities | 21.81B | 17.42B | 12.09B | 7.82B | 7.73B | 9.59B |
| Common Stock | 30.89M | 30.89M | 25.69M | 25.44M | 25.06M | 24.78M |
| Additional Paid-In Capital | 24.17B | 24.07B | 18.94B | 18.81B | 18.65B | 18.25B |
| Retained Earnings | -15.63B | -15.20B | -14.26B | -12.29B | -10.12B | -7.46B |
| Treasury Stock | -6.22M | -31.07M | -105.48M | -208.38M | -208.38M | |
| Comprehensive Income & Other | 336.80M | 440.41M | 566.90M | 555.34M | 453.07M | -207.88M |
| Total Common Equity | 8.90B | 9.32B | 5.17B | 6.89B | 8.80B | 10.60B |
| Minority Interest | -3.79M | -3.99M | 337.28M | 355.75M | 782.48M | 888.47M |
| Shareholders' Equity | 8.89B | 9.31B | 5.51B | 7.25B | 9.58B | 11.49B |
| Total Liabilities & Equity | 30.70B | 26.73B | 17.59B | 15.07B | 17.32B | 21.08B |
| Total Debt | 11.02B | 10.55B | 6.70B | 2.59B | 2.10B | 2.82B |
| Net Cash (Debt) | -6.35B | -4.53B | -3.97B | -330.41M | 2.57B | 3.88B |
| Net Cash Per Share | -21.39 | -16.55 | -16.26 | -1.39 | 10.63 | 16.93 |
| Filing Date Shares Outstanding | 300.12M | 298.66M | 245.85M | 237.47M | 233.89M | 243.55M |
| Total Common Shares Outstanding | 300.12M | 298.66M | 245.85M | 237.47M | 233.89M | 243.09M |
| Working Capital | 120.70M | 1.60B | -2.32B | -730.47M | 2.39B | 4.90B |
| Book Value Per Share | 29.65 | 31.20 | 21.02 | 29.01 | 37.63 | 43.62 |
| Tangible Book Value | 3.85B | 4.18B | -132.56M | 1.45B | 3.19B | 4.81B |
| Tangible Book Value Per Share | 12.82 | 13.99 | -0.54 | 6.11 | 13.63 | 19.78 |
| Buildings | 75.84M | 72.11M | 128.79M | 161.43M | 15.77M | |
| Machinery | 16.67B | 9.45B | 5.81B | 5.76B | 5.28B | |
| Construction In Progress | 181.88M | 133.16M | 335.16M | 3.46M | 147.82M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -601.76M | -936.25M | -1.97B | -2.18B | -2.66B | -1.59B |
| Depreciation & Amortization | 3.33B | 2.48B | 1.26B | 940.48M | 1.16B | 855.60M |
| Other Amortization | 38.87M | |||||
| Loss (Gain) From Sale of Assets | -102.97M | -102.97M | -44.62M | 16.97M | 28.79M | -5.81M |
| Asset Writedown & Restructuring Costs | 919.72M | 653.67M | ||||
| Loss (Gain) From Sale of Investments | 10.53M | 24.26M | 15.29M | -92.86M | ||
| Stock-Based Compensation | 446.91M | 446.91M | 214.44M | 181.65M | 359.83M | 434.35M |
| Provision & Write-off of Bad Debts | 210.69M | 210.69M | 333.73M | 502.19M | 354.14M | 112.01M |
| Other Operating Activities | 1.10B | -58.47M | 10.14M | 82.47M | 369.99M | 2.15M |
| Change in Accounts Receivable | -459.38M | -459.38M | -219.10M | 375.24M | 827.59M | -947.79M |
| Change in Accounts Payable | 292.12M | 292.12M | -187.88M | -621.33M | -585.42M | 593.41M |
| Change in Income Taxes | 4.09M | 4.09M | 5.26M | 8.52M | -5.26M | 20.72M |
| Change in Other Net Operating Assets | 1.92B | 1.92B | 289.79M | -156.85M | 285.92M | -91.94M |
| Operating Cash Flow | 6.14B | 3.80B | 628.42M | -169.07M | 188.97M | -708.87M |
| Capital Expenditures | -4.74B | -4.74B | -3.67B | -1.96B | -1.42B | -723.28M |
| Sale of Property, Plant & Equipment | 115.29M | 115.29M | 263.00K | 12.31M | 34.63M | 8.32M |
| Cash Acquisitions | -157.48M | 139.35M | ||||
| Divestitures | 3.95M | -2.58M | ||||
| Sale (Purchase) of Intangibles | -11.12M | -5.98M | -18.77M | -12.11M | ||
| Investment in Securities | 90.42M | 90.42M | -92.77M | 1.27B | 1.43B | 162.84M |
| Other Investing Activities | -3.16B | 6.92M | 155.25M | 4.37M | 99.57M | 3.25M |
| Investing Cash Flow | -7.69B | -4.53B | -3.62B | -673.19M | -32.87M | -421.62M |
| Short-Term Debt Issued | 2.77B | 2.47B | 1.16B | 936.66M | 1.54B | |
| Long-Term Debt Issued | 2.69B | 3.54B | 1.00B | 300.00M | 1.19B | |
| Total Debt Issued | 5.46B | 5.46B | 6.00B | 2.16B | 1.24B | 2.73B |
| Short-Term Debt Repaid | -2.33B | -1.32B | -963.00M | -1.38B | -496.71M | |
| Long-Term Debt Repaid | -2.59B | -1.22B | -755.29M | -755.72M | -74.35M | |
| Total Debt Repaid | -4.92B | -4.92B | -2.54B | -1.72B | -2.13B | -571.06M |
| Net Debt Issued (Repaid) | 537.35M | 537.35M | 3.47B | 446.11M | -894.39M | 2.16B |
| Issuance of Common Stock | 4.56B | 4.56B | 12.08M | 3.85M | 17.80M | 50.92M |
| Repurchase of Common Stock | -208.38M | |||||
| Other Financing Activities | -4.12B | -918.51M | -225.25M | -677.81M | -67.18M | |
| Financing Cash Flow | 978.39M | 4.18B | 3.26B | -227.85M | -1.15B | 2.21B |
| Foreign Exchange Rate Adjustments | -215.99M | -67.15M | -22.77M | 25.86M | 73.14M | -50.05M |
| Net Cash Flow | -787.84M | 3.39B | 240.62M | -1.04B | -922.89M | 1.03B |
| Free Cash Flow | 1.40B | -941.34M | -3.04B | -2.13B | -1.23B | -1.43B |
| Free Cash Flow Margin | 12.73% | -9.85% | -39.09% | -30.19% | -15.03% | -15.81% |
| Free Cash Flow Per Share | 4.72 | -3.44 | -12.48 | -8.97 | -5.09 | -6.24 |
| Levered Free Cash Flow | -1.82B | -3.89B | -2.98B | -1.84B | -96.47M | -879.25M |
| Unlevered Free Cash Flow | -1.44B | -3.58B | -2.84B | -1.75B | -10.34M | -846.73M |
| Cash Interest Paid | 315.43M | 315.43M | 185.49M | 96.73M | 130.32M | 45.84M |
| Cash Income Tax Paid | 31.46M | 31.46M | 34.11M | 33.92M | 64.93M | 6.87M |
| Change in Working Capital | 1.76B | 1.76B | -111.93M | -394.42M | 522.82M | -425.60M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.38B | 3.11B | 2.51B | 884.12M | 929.39M | 3.81B |
| Enterprise Value | 3.32B | 4.37B | 2.89B | 733.39M | 584.97M | 3.21B |
| Last Close Price | 7.94 | 10.34 | 10.49 | 3.78 | 3.83 | 15.75 |
| PS Ratio | 1.47 | 2.27 | 2.35 | 0.89 | 0.78 | 2.67 |
| PB Ratio | 1.82 | 2.33 | 3.33 | 0.86 | 0.67 | 2.10 |
| P/TBV Ratio | 4.21 | 5.20 | 4.32 | 2.01 | 5.03 | |
| P/OCF Ratio | 2.58 | 5.72 | 29.13 | 33.92 | ||
| EV/Sales Ratio | 2.05 | 3.19 | 2.71 | 0.74 | 0.49 | 2.25 |
| EV/EBITDA Ratio | 7.58 | 17.88 | 47.49 | |||
| Debt / Equity Ratio | 1.24 | 1.13 | 1.22 | 0.36 | 0.22 | 0.25 |
| Debt / EBITDA Ratio | 3.60 | 5.87 | 12.25 | |||
| Debt / FCF Ratio | 7.86 | |||||
| Net Debt / Equity Ratio | 0.71 | 0.49 | 0.72 | 0.05 | -0.27 | -0.34 |
| Net Debt / EBITDA Ratio | 2.13 | 2.65 | 8.94 | -0.64 | 2.35 | 4.06 |
| Net Debt / FCF Ratio | 4.53 | -4.82 | -1.30 | -0.15 | 2.09 | 2.71 |
| Asset Turnover | 0.40 | 0.43 | 0.48 | 0.43 | 0.43 | 0.55 |
| Quick Ratio | 0.72 | 0.96 | 0.57 | 0.68 | 1.18 | 1.48 |
| Current Ratio | 1.01 | 1.17 | 0.75 | 0.89 | 1.36 | 1.65 |
| Return on Equity (ROE) | -7.61% | -12.74% | -31.04% | -25.95% | -25.51% | -16.13% |
| Return on Assets (ROA) | -0.80% | -2.18% | -3.14% | -5.62% | -7.33% | -6.86% |
| Return on Capital Employed (ROCE) | -1.80% | -4.50% | -9.70% | -17.70% | -21.10% | -13.40% |
| Earnings Yield | -3.76% | -4.31% | -10.75% | -34.72% | -41.47% | -6.57% |
| FCF Yield | 8.85% | -4.33% | -16.63% | -33.94% | -19.18% | -5.92% |
| Buyback Yield / Dilution | -17.88% | -12.27% | -2.80% | 1.81% | -5.29% | -43.35% |