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

FY2025 annual

Revenue $1.4B +28.2% YoY

Net Income -$133.9M +50.3% YoY

EPS (Diluted) -$0.03 +57.1% YoY

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Latest period FY2025, ended Dec 31, 2025 Reported Apr 23, 2026 Currency USD FYE December

Kingsoft Cloud Holdings Ltd (KC) reported $1.4B in revenue for fiscal year 2025, up 28.2% from the prior fiscal year. This page shows its 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 FY2025 2026-08-30

Kingsoft Cloud’s dominant mechanic is operating leverage: revenue recovered, gross margins held near 16.0%, and cash generation surged despite losses.

From FY2024 to FY2025, revenue expanded 28.2% even as gross margin narrowed by 1.5 percentage points, so the recovery was not simply higher pricing or richer mix. Operating margin improved from -22.3% to -8.1% while EBITDA turned positive, indicating scale and cost absorption helped more than gross-profit expansion.

The cash conversion gap is striking: net loss narrowed to -$134M, but operating cash flow reached $544M; cash generation therefore relied on non-cash charges and/or working-capital movements, not accounting profit alone. This reverses FY2023 operating cash flow of -$24M, making the cash statement materially better than the earnings statement.

Current ratio recovered to 1.2x from 0.7x, restoring short-term coverage after FY2024’s sub-1.0x position. Yet interest expense rose to $71M while shares outstanding increased 17.7%, so operating improvement still faces heavier financing and per-share burdens.

Financial Health Signals

Financial Health Score 44/100

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 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 loses $8 on every $100 of revenue. This results in a profitability score of 32/100. 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 79/100.

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 97/100, 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 27/100. 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.

Cash Flow

Not available for Kingsoft Cloud Holdings Ltd, and counted as zero in the overall score.

Returns

Kingsoft Cloud Holdings Ltd posts a -10.1% return on equity (ROE), meaning it loses $10 for every $100 of shareholders' equity. This results in a returns score of 30/100. This is up from -38.0% the prior year.

Altman Z-Score Distress

0.30

Kingsoft Cloud Holdings Ltd scores 0.30, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($3.2B) relative to total liabilities ($2.5B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

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

N/A

Kingsoft Cloud Holdings Ltd reported a net loss of $133.9M while generating $543.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Kingsoft Cloud Holdings Ltd reported an operating loss of $110.5M against $71.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

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

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.

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.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

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

YoY0.0%

5Y CAGR-0.5%

Kingsoft Cloud Holdings Ltd invested $115.9M in research and development in fiscal year 2025. That is unchanged from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

KC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KC quarterly 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
EPS (Diluted)	N/A	N/A	N/A	-$0.03	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, Interest Expense, Income Tax, Net Income.

KC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KC quarterly 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
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
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

Not reported in any period shown, so not listed: Inventory.

KC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

KC quarterly 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
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
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
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
Share Buybacks	N/A	N/A	N/A	$18.9M	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.

KC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

KC quarterly 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+0.4x	0.75-0.1x	0.89-0.5x	1.36-0.3x	1.65-1.1x	2.75
Debt-to-Equity	0.320.0x	0.320.0x	0.31+0.1x	0.20-0.7x	0.90+0.5x	0.45

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q3'22	Q2'22	Q4'21	Q4'20
Current Ratio	1.17+0.4x	0.75-0.1x	0.89-0.5x	1.360.0x	1.390.0x	1.40-0.3x	1.65-1.1x	2.75
Debt-to-Equity	0.320.0x	0.320.0x	0.31+0.1x	0.20-0.7x	0.870.0x	0.84-0.1x	0.90+0.5x	0.45

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, FCF Margin.

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Where Kingsoft Cloud Holdings Ltd Ranks

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 Altman Z-Score?

Kingsoft Cloud Holdings Ltd (KC) has an Altman Z-Score of 0.30, placing it in the Distress Zone (elevated 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 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) reported a net loss of $133.9M while generating $543.5M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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) reported an operating loss of $110.5M against $71.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 44 out of 100 on our Financial Health Score, indicating moderate 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.