What is Kingsoft Cloud Holdings Ltd's earnings per share (EPS)?

Kingsoft Cloud Holdings Ltd (KC) reported diluted earnings per share of $-0.03 for fiscal year 2025. This represents a 57.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Kingsoft Cloud Holdings Ltd Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Kingsoft Cloud Holdings Ltd (KC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).

Rhea AI KC FY2024 2026-04-23

Margin repair is reducing losses, but liquidity remains tight because investment needs still outrun internally generated cash.

The most important shift is that gross-margin expansion and lower overhead are narrowing the operating hole even without a full sales rebound, so the business is becoming less loss-heavy per dollar of revenue. But cash conversion improved faster than earnings—operating cash flow turned to $86M while net loss remained -$269M, and receivables have fallen for two straight years—which points to working-capital help rather than a completed profitability fix.

The company now keeps more of each sales dollar at the gross level: gross margin rose to 17.2% from 12.1%, and selling costs are lower, so operating losses are shrinking because the cost structure is improving, not because revenue suddenly accelerated. That pattern looks more like a healthier revenue mix or direct-cost control than a simple volume rebound.

The balance sheet is doing two jobs at once: current liquidity is tight at 0.7x, while financing cash flow was $446M, indicating near-term obligations are still being managed with outside capital as much as with operations. That matters because investing outflow was -$496M, so internally generated cash still does not fund the company’s full asset spend.

Financial Health Signals

Financial Profile 29/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Kingsoft Cloud Holdings 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.

Profitability

Kingsoft Cloud Holdings Ltd has an operating margin of -8.1%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -22.3% the prior year.

Growth

Kingsoft Cloud Holdings Ltd's revenue surged 28.2% year-over-year to $1.4B, reflecting rapid business expansion. This strong growth earns a score of 62/100.

Leverage

Kingsoft Cloud Holdings Ltd carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Kingsoft Cloud Holdings Ltd's current ratio of 1.17 is below the typical benchmark, resulting in a score of 19/100. However, the company holds substantial cash reserves (64% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Returns

Kingsoft Cloud Holdings Ltd generates a -10.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -38.0% the prior year.

Piotroski F-Score Neutral

4/9

Kingsoft Cloud Holdings Ltd passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-4.06x

For every $1 of reported earnings, Kingsoft Cloud Holdings Ltd generates $-4.06 in operating cash flow ($543.5M OCF vs -$133.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-1.6x

Kingsoft Cloud Holdings Ltd earns $-1.6 in operating income for every $1 of interest expense (-$110.5M vs $71.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.4B

YoY+28.2%

5Y CAGR+6.3%

Kingsoft Cloud Holdings Ltd generated $1.4B in revenue in fiscal year 2025. This represents an increase of 28.2% from the prior year.

EBITDA

$244.2M

YoY+474.5%

Kingsoft Cloud Holdings Ltd's EBITDA was $244.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 474.5% from the prior year.

Net Income

-$133.9M

YoY+50.3%

Kingsoft Cloud Holdings Ltd reported -$133.9M in net income in fiscal year 2025. This represents an increase of 50.3% from the prior year.

EPS (Diluted)

$-0.03

YoY+57.1%

Kingsoft Cloud Holdings Ltd earned $-0.03 per diluted share (EPS) in fiscal year 2025. This represents an increase of 57.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$860.6M

YoY+137.2%

5Y CAGR+10.4%

Kingsoft Cloud Holdings Ltd held $860.6M in cash against $432.4M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

4.48B

YoY+17.7%

5Y CAGR+6.1%

Kingsoft Cloud Holdings Ltd had 4.48B shares outstanding in fiscal year 2025. This represents an increase of 17.7% from the prior year.

Margins & Returns

Gross Margin

15.7%

YoY-1.5pp

5Y CAGR+10.3pp

Kingsoft Cloud Holdings Ltd's gross margin was 15.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.5 percentage points from the prior year.

Operating Margin

-8.1%

YoY+14.2pp

5Y CAGR+10.3pp

Kingsoft Cloud Holdings Ltd's operating margin was -8.1% in fiscal year 2025, reflecting core business profitability. This is up 14.2 percentage points from the prior year.

Net Margin

-9.8%

YoY+15.5pp

5Y CAGR+4.8pp

Kingsoft Cloud Holdings Ltd's net profit margin was -9.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 15.5 percentage points from the prior year.

Return on Equity

-10.1%

YoY+28.0pp

5Y CAGR+1.6pp

Kingsoft Cloud Holdings Ltd's ROE was -10.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 28.0 percentage points from the prior year.

Capital Allocation

R&D Spending

$115.9M

YoY-0.0%

5Y CAGR-0.5%

Kingsoft Cloud Holdings Ltd invested $115.9M in research and development in fiscal year 2025. This represents a decrease of 0.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

KC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.4B+28.2%	$1.1B+7.5%	$992.6M-16.3%	$1.2B-16.6%	$1.4B+41.1%	$1.0B
Cost of Revenue	$1.2B+30.5%	$882.9M+1.1%	$872.9M-22.3%	$1.1B-17.8%	$1.4B+43.4%	$953.3M
Gross Profit	$215.0M+17.0%	$183.7M+53.4%	$119.7M+92.3%	$62.3M+13.0%	$55.1M+0.8%	$54.7M
R&D Expenses	$115.9M0.0%	$115.9M+4.9%	$110.5M-21.5%	$140.8M-14.0%	$163.8M+37.9%	$118.8M
SG&A Expenses	$130.8M+14.4%	$114.4M-23.4%	$149.3M-10.4%	$166.7M+76.5%	$94.4M+62.2%	$58.2M
Operating Income	-$110.5M+53.6%	-$238.2M+19.8%	-$297.0M+9.0%	-$326.4M-14.8%	-$284.4M-53.7%	-$185.0M
Interest Expense	$71.2M+126.3%	$31.5M+53.0%	$20.6M+2.9%	$20.0M+144.7%	$8.2M+463.6%	$1.4M
Income Tax	-$601K-187.6%	-$209K-108.3%	$2.5M-28.7%	$3.5M+43.6%	$2.5M+8.1%	$2.3M
Net Income	-$133.9M+50.3%	-$269.4M+12.1%	-$306.5M+20.5%	-$385.4M-54.6%	-$249.3M-69.1%	-$147.5M
EPS (Diluted)	$-0.03+57.1%	$-0.07+22.2%	$-0.09+18.2%	$-0.11	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q2'22	Q4'21	Q4'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

KC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.8B+58.6%	$2.4B+13.5%	$2.1B-15.5%	$2.5B-24.1%	$3.3B+80.9%	$1.8B
Current Assets	$1.6B+68.2%	$937.2M+9.1%	$858.9M-34.5%	$1.3B-32.6%	$1.9B+33.2%	$1.5B
Cash & Equivalents	$860.6M+137.2%	$362.9M+14.2%	$317.7M-35.9%	$495.7M-25.1%	$661.8M+26.1%	$524.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$248.9M+23.7%	$201.2M-6.6%	$215.5M-38.1%	$348.3M-37.8%	$560.4M+56.6%	$357.8M
Goodwill	$658.6M+4.4%	$631.0M-2.7%	$648.7M-2.9%	$667.8M-8.0%	$725.8M	N/A
Total Liabilities	$2.5B+50.4%	$1.7B+50.3%	$1.1B-1.7%	$1.1B-25.5%	$1.5B+166.0%	$565.4M
Current Liabilities	$1.3B+7.4%	$1.3B+30.5%	$961.8M-0.4%	$965.4M-18.1%	$1.2B+122.1%	$531.1M
Long-Term Debt	$432.4M+90.0%	$227.5M-24.1%	$299.6M+19.8%	$250.0M	N/A	N/A
Total Equity	$1.3B+88.2%	$708.0M-27.0%	$970.5M-23.9%	$1.3B-23.3%	$1.7B+31.8%	$1.3B
Retained Earnings	-$2.2B-11.4%	-$2.0B-12.9%	-$1.7B-18.4%	-$1.5B-25.1%	-$1.2B-30.2%	-$898.8M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q2'22	Q4'21	Q4'20
Total Assets	$3.8B+58.6%	$2.4B+13.5%	$2.1B-15.5%	$2.5B-3.7%	$2.6B-8.1%	$2.8B-14.2%	$3.3B+80.9%	$1.8B
Current Assets	$1.6B+68.2%	$937.2M+9.1%	$858.9M-34.5%	$1.3B-7.0%	$1.4B-8.4%	$1.5B-20.9%	$1.9B+33.2%	$1.5B
Cash & Equivalents	$860.6M+137.2%	$362.9M+14.2%	$317.7M-35.9%	$495.7M+11.5%	$444.7M+9.0%	$407.9M-38.4%	$661.8M+26.1%	$524.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$248.9M+23.7%	$201.2M-6.6%	$215.5M-38.1%	$348.3M-3.5%	$360.9M-15.9%	$428.9M-23.5%	$560.4M+56.6%	$357.8M
Goodwill	$658.6M+4.4%	$631.0M-2.7%	$648.7M-2.9%	$667.8M+3.1%	$647.5M-5.8%	$687.6M-5.3%	$725.8M	N/A
Total Liabilities	$2.5B+50.4%	$1.7B+50.3%	$1.1B-1.7%	$1.1B-3.1%	$1.2B-6.4%	$1.2B-17.8%	$1.5B+166.0%	$565.4M
Current Liabilities	$1.3B+7.4%	$1.3B+30.5%	$961.8M-0.4%	$965.4M-4.6%	$1.0B-8.3%	$1.1B-6.4%	$1.2B+122.1%	$531.1M
Long-Term Debt	$432.4M+90.0%	$227.5M-24.1%	$299.6M+19.8%	$250.0M	N/A	N/A	N/A	N/A
Total Equity	$1.3B+88.2%	$708.0M-27.0%	$970.5M-23.9%	$1.3B-3.9%	$1.3B-9.6%	$1.5B-11.7%	$1.7B+31.8%	$1.3B
Retained Earnings	-$2.2B-11.4%	-$2.0B-12.9%	-$1.7B-18.4%	-$1.5B-8.4%	-$1.4B-2.6%	-$1.3B-12.4%	-$1.2B-30.2%	-$898.8M

KC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$543.5M+531.3%	$86.1M+461.5%	-$23.8M-186.9%	$27.4M+124.6%	-$111.2M-149.9%	-$44.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$647.7M-30.6%	-$496.0M-423.1%	-$94.8M-1889.8%	-$4.8M+92.8%	-$66.2M+90.0%	-$661.2M
Financing Cash Flow	$598.2M+34.1%	$446.0M+1489.7%	-$32.1M+80.8%	-$167.0M-148.1%	$347.2M-63.0%	$938.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$0	N/A	$30.2M	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q2'22	Q4'21	Q4'20
Operating Cash Flow	N/A	N/A	N/A	$52.9M+217.8%	$16.6M	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	$126.5M+124.0%	$56.5M	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	-$118.5M-618.1%	-$16.5M	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	$18.9M	N/A	N/A	N/A	N/A

KC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	15.7%-1.5pp	17.2%+5.2pp	12.1%+6.8pp	5.3%+1.4pp	3.9%-1.6pp	5.4%
Operating Margin	-8.1%+14.2pp	-22.3%+7.6pp	-29.9%-2.4pp	-27.5%-7.5pp	-20.0%-1.7pp	-18.4%
Net Margin	-9.8%+15.5pp	-25.3%+5.6pp	-30.9%+1.6pp	-32.5%-15.0pp	-17.5%-2.9pp	-14.6%
Return on Equity	-10.1%+28.0pp	-38.0%-6.5pp	-31.6%-1.4pp	-30.2%-15.2pp	-15.0%-3.3pp	-11.7%
Return on Assets	-3.5%+7.7pp	-11.2%+3.3pp	-14.4%+0.9pp	-15.3%-7.8pp	-7.5%+0.5pp	-8.1%
Current Ratio	1.17+0.4	0.75-0.1	0.89-0.5	1.36-0.3	1.65-1.1	2.75
Debt-to-Equity	0.320.0	0.32+0.0	0.31+0.1	0.20-0.7	0.90+0.5	0.45
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q2'22	Q4'21	Q4'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.17+0.4	0.75-0.1	0.89-0.5	1.36-0.0	1.390.0	1.40-0.3	1.65-1.1	2.75
Debt-to-Equity	0.320.0	0.32+0.0	0.31+0.1	0.20-0.7	0.87+0.0	0.84-0.1	0.90+0.5	0.45
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Kingsoft Cloud Holdings Ltd's annual revenue?

Kingsoft Cloud Holdings Ltd (KC) reported $1.4B in total revenue for fiscal year 2025. This represents a 28.2% 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 Kingsoft Cloud Holdings Ltd's revenue growing?

Kingsoft Cloud Holdings Ltd (KC) revenue grew by 28.2% year-over-year, from $1.1B to $1.4B in fiscal year 2025.

Is Kingsoft Cloud Holdings Ltd profitable?

No, Kingsoft Cloud Holdings Ltd (KC) reported a net income of -$133.9M in fiscal year 2025, with a net profit margin of -9.8%.

What is Kingsoft Cloud Holdings Ltd's EBITDA?

Kingsoft Cloud Holdings Ltd (KC) had EBITDA of $244.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Kingsoft Cloud Holdings Ltd have?

As of fiscal year 2025, Kingsoft Cloud Holdings Ltd (KC) had $860.6M in cash and equivalents against $432.4M in long-term debt.

What is Kingsoft Cloud Holdings Ltd's gross margin?

Kingsoft Cloud Holdings Ltd (KC) had a gross margin of 15.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Kingsoft Cloud Holdings Ltd's operating margin?

Kingsoft Cloud Holdings Ltd (KC) had an operating margin of -8.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Kingsoft Cloud Holdings Ltd's net profit margin?

Kingsoft Cloud Holdings Ltd (KC) had a net profit margin of -9.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Kingsoft Cloud Holdings Ltd's return on equity (ROE)?

Kingsoft Cloud Holdings Ltd (KC) has a return on equity of -10.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Kingsoft Cloud Holdings Ltd's operating cash flow?

Kingsoft Cloud Holdings Ltd (KC) generated $543.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Kingsoft Cloud Holdings Ltd's total assets?

Kingsoft Cloud Holdings Ltd (KC) had $3.8B in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Kingsoft Cloud Holdings Ltd spend on research and development?

Kingsoft Cloud Holdings Ltd (KC) invested $115.9M in research and development during fiscal year 2025.

How many shares does Kingsoft Cloud Holdings Ltd have outstanding?

Kingsoft Cloud Holdings Ltd (KC) had 4.48B shares outstanding as of fiscal year 2025.

What is Kingsoft Cloud Holdings Ltd's current ratio?

Kingsoft Cloud Holdings Ltd (KC) had a current ratio of 1.17 as of fiscal year 2025, which is considered adequate.

What is Kingsoft Cloud Holdings Ltd's debt-to-equity ratio?

Kingsoft Cloud Holdings Ltd (KC) had a debt-to-equity ratio of 0.32 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kingsoft Cloud Holdings Ltd's return on assets (ROA)?

Kingsoft Cloud Holdings Ltd (KC) had a return on assets of -3.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Kingsoft Cloud Holdings Ltd's Piotroski F-Score?

Kingsoft Cloud Holdings Ltd (KC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. 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 Kingsoft Cloud Holdings Ltd's earnings high quality?

Kingsoft Cloud Holdings Ltd (KC) has an earnings quality ratio of -4.06x, considered mixed 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.

Can Kingsoft Cloud Holdings Ltd cover its interest payments?

Kingsoft Cloud Holdings Ltd (KC) has an interest coverage ratio of -1.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Kingsoft Cloud Holdings Ltd?

Kingsoft Cloud Holdings Ltd (KC) scores 29 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.