KINGSOFT CLOUD HLDGS LTD (KCLHF) Financials
Newest figures come from the 20-F for FY2025, filed Apr 23, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KCLHF SEC filings page.
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 8 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).
Revenue recovery is paired with wider gross margins and positive operating cash, but the balance sheet is increasingly funding an unprofitable operation.
In FY2025, EBITDA was positive at$244M while operating income remained negative at-$111M . The gap is consistent with heavy depreciation, making the earnings-quality shift important: operating cash flow reached$544M despite a net loss.
Gross-margin improvement reached
Current liquidity improved to 1.2x in FY2025 from 0.7x in FY2024, reducing the immediate working-capital squeeze. Yet total liabilities reached
Financial Health Signals
KINGSOFT CLOUD HLDGS LTD does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
KINGSOFT CLOUD HLDGS LTD scores 0.68, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $2.2B against total assets of $3.8B. 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.
KINGSOFT CLOUD HLDGS 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.
KINGSOFT CLOUD HLDGS 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.
KINGSOFT CLOUD HLDGS 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
Earnings & Revenue
KINGSOFT CLOUD HLDGS LTD generated $1.4B in revenue in fiscal year 2025. This represents an increase of 28.2% from the prior year.
KINGSOFT CLOUD HLDGS LTD's EBITDA was $244.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. The change from the prior year is not meaningful, because that figure was zero or negative.
KINGSOFT CLOUD HLDGS LTD reported a net loss of $133.9M in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
KINGSOFT CLOUD HLDGS LTD earned -$0.03 per diluted share (EPS) in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
KINGSOFT CLOUD HLDGS LTD held $860.6M in cash against $432.4M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
KINGSOFT CLOUD HLDGS 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.
KINGSOFT CLOUD HLDGS 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.
KINGSOFT CLOUD HLDGS 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.
KINGSOFT CLOUD HLDGS 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
KINGSOFT CLOUD HLDGS LTD invested $115.9M in research and development in fiscal year 2025. That is unchanged from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
KCLHF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B+28.2% | $1.1B+7.5% | $992.6M-16.3% | $1.2B-16.6% | $1.4B+41.1% | $1.0B+77.4% | $568.3M+76.1% | $322.6M |
| 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+68.1% | $567.2M+61.2% | $351.8M |
| Gross Profit | $215.0M+17.0% | $183.7M+53.4% | $119.7M+92.3% | $62.3M+13.0% | $55.1M+0.8% | $54.7M+4840.7% | $1.1Mn/m | -$29.1M |
| R&D Expenses | $115.9M0.0% | $115.9M+4.9% | $110.5M-21.5% | $140.8M-14.0% | $163.8M+37.9% | $118.8M+39.0% | $85.5M+33.4% | $64.1M |
| SG&A Expenses | $209.6M+16.4% | $180.0M-15.9% | $214.1M-13.6% | $247.9M+41.1% | $175.7M+45.3% | $120.9M+51.4% | $79.9M+62.2% | $49.2M |
| Operating Income | -$110.5Mn/m | -$238.2Mn/m | -$297.0Mn/m | -$326.4Mn/m | -$284.4Mn/m | -$185.0Mn/m | -$164.3Mn/m | -$142.5M |
| EBITDA | $244.2Mn/m | -$65.2Mn/m | -$164.5Mn/m | -$158.6Mn/m | -$150.1Mn/m | -$68.8Mn/m | -$77.4Mn/m | -$82.5M |
| Interest Expense | $71.2M+126.3% | $31.5M+53.0% | $20.6M+2.9% | $20.0M+144.7% | $8.2M+463.7% | $1.4M+104.8% | $707K-87.5% | $5.6M |
| Income Tax | -$601Kn/m | -$209K-108.3% | $2.5M-28.7% | $3.5M+43.6% | $2.5M+8.1% | $2.3M+76.6% | $1.3M-7.7% | $1.4M |
| Net Income | -$133.9Mn/m | -$269.4Mn/m | -$306.5Mn/m | -$385.4Mn/m | -$249.3Mn/m | -$147.5Mn/m | -$159.6Mn/m | -$146.4M |
| EPS (Basic) | -$0.03n/m | -$0.07n/m | -$0.09n/m | -$0.11n/m | -$0.07n/m | -$0.06 | -$0.05 | -$0.32 |
| EPS (Diluted) | -$0.03n/m | -$0.07n/m | -$0.09n/m | -$0.11n/m | -$0.07n/m | -$0.06 | -$0.19 | -$0.32 |
| Diluted Shares (Avg) | 4.11B+12.3% | 3.66B+2.8% | 3.56B-1.8% | 3.62B+5.3% | 3.44B+43.4% | 2.40B | N/A | N/A |
KCLHF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.8B+58.6% | $2.4B+13.5% | $2.1B-15.5% | $2.5B-24.1% | $3.3B+80.9% | $1.8B+111.0% | $866.4M | N/A |
| Current Assets | $1.6B+68.2% | $937.2M+9.1% | $858.9M-34.5% | $1.3B-32.6% | $1.9B+33.2% | $1.5B+145.4% | $596.1M | N/A |
| Cash & Equivalents | $860.6M+137.2% | $362.9M+14.2% | $317.7M-35.9% | $495.7M-25.1% | $661.8M+26.1% | $524.9M+80.6% | $290.6M+32.6% | $219.2M |
| Short-Term Investments | $0-100.0% | $12.4Mn/m | $0-100.0% | $181.8M-53.5% | $390.9M-5.3% | $412.7M+1174.6% | $32.4Mn/m | $0 |
| Accounts Receivable | $248.9M+23.7% | $201.2M-6.6% | $215.5M-38.1% | $348.3M-37.8% | $560.4M+56.6% | $357.8M+84.9% | $193.6M | N/A |
| Long-Term Investments | $33.5M+4.4% | $32.1M-12.4% | $36.6M | N/A | $0n/m | $0n/m | $0n/m | $0 |
| Goodwill | $658.6M+4.4% | $631.0M-2.7% | $648.7M-2.9% | $667.8M-8.0% | $725.8Mn/m | $0 | N/A | 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-61.5% | $1.5B | N/A |
| Current Liabilities | $1.3B+7.4% | $1.3B+30.5% | $961.8M-0.4% | $965.4M-18.1% | $1.2B+122.1% | $531.1M+52.8% | $347.6M | N/A |
| Non-Current Liabilities | $1.1B+185.0% | $401.1M+186.0% | $140.3M-9.9% | $155.7M-52.1% | $324.8M+847.9% | $34.3M+219.9% | $10.7M | N/A |
| Long-Term Debt | $432.4M+90.0% | $227.5M+1515.2% | $14.1M-94.4% | $250.0M | N/A | N/A | $10.7M | N/A |
| Total Equity | $1.3B+88.2% | $708.0M-27.0% | $970.5M-23.9% | $1.3B-23.3% | $1.7B+31.8% | $1.3Bn/m | -$602.9M | N/A |
| Retained Earnings | -$2.2Bn/m | -$2.0Bn/m | -$1.7Bn/m | -$1.5Bn/m | -$1.2Bn/m | -$898.8Mn/m | -$704.1M | N/A |
Not reported in any period shown, so not listed: Inventory.
KCLHF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $543.5M+531.3% | $86.1Mn/m | -$23.8M-186.9% | $27.4Mn/m | -$111.2Mn/m | -$44.5Mn/m | -$63.1Mn/m | -$55.7M |
| Depreciation & Amortization | $354.7M+105.0% | $173.0M+30.6% | $132.5M-21.1% | $167.8M+25.0% | $134.3M+15.6% | $116.2M+33.8% | $86.8M+44.8% | $60.0M |
| Stock-Based Compensation | $63.9M+117.5% | $29.4M+14.8% | $25.6M-51.0% | $52.2M-23.5% | $68.2M+34.7% | $50.6M+190.4% | $17.4M+155.2% | $6.8M |
| Investing Cash Flow | -$647.7Mn/m | -$496.0Mn/m | -$94.8Mn/m | -$4.8Mn/m | -$66.2Mn/m | -$661.1M-621.1% | $126.9Mn/m | -$170.7M |
| Financing Cash Flow | $598.2M+34.1% | $446.0Mn/m | -$32.1Mn/m | -$167.0M-148.1% | $347.2M-63.0% | $938.6M+10029.3% | $9.3M-97.4% | $354.3M |
| Share Buybacks | N/A | $0n/m | $0-100.0% | $30.2M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
KCLHF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F | FY1820-F |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.7%-1.5pp | 17.2%+5.2pp | 12.1%+6.8pp | 5.3%+1.4pp | 3.9%-1.6pp | 5.4%+5.2pp | 0.2%+9.2pp | -9.0% |
| Operating Margin | -8.1%+14.2pp | -22.3%+7.6pp | -29.9%-2.4pp | -27.5%-7.5pp | -20.0%-1.7pp | -18.4%+10.5pp | -28.9%+15.3pp | -44.1% |
| Net Margin | -9.8%+15.5pp | -25.3%+5.6pp | -30.9%+1.6pp | -32.5%-15.0pp | -17.5%-2.9pp | -14.6%+13.4pp | -28.1%+17.3pp | -45.4% |
| 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% | N/A | N/A |
| 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%+10.4pp | -18.4% | N/A |
| Current Ratio | 1.17+0.4x | 0.75-0.1x | 0.89-0.5x | 1.36-0.3x | 1.65-1.1x | 2.75+1.0x | 1.71 | N/A |
| Debt-to-Equity | 0.320.0x | 0.32+0.3x | 0.01-0.2x | 0.20 | N/A | N/A | N/A | N/A |
| Liabilities-to-Equity | 1.87-0.5x | 2.34+1.2x | 1.14+0.3x | 0.880.0x | 0.90+0.5x | 0.45 | N/A | N/A |
| Asset Turnover | 0.36-0.1x | 0.440.0x | 0.470.0x | 0.470.0x | 0.43-0.1x | 0.55-0.1x | 0.66 | N/A |
Not reported in any period shown, so not listed: FCF Margin.
Where KINGSOFT CLOUD HLDGS LTD Ranks
Frequently Asked Questions
What is KINGSOFT CLOUD HLDGS LTD's annual revenue?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 HLDGS LTD's revenue growing?
KINGSOFT CLOUD HLDGS LTD (KCLHF) revenue grew by 28.2% year-over-year, from $1.1B to $1.4B in fiscal year 2025.
Is KINGSOFT CLOUD HLDGS LTD profitable?
No, KINGSOFT CLOUD HLDGS LTD (KCLHF) reported a net loss of $133.9M in fiscal year 2025, with a net profit margin of -9.8%.
What is KINGSOFT CLOUD HLDGS LTD's EBITDA?
KINGSOFT CLOUD HLDGS LTD (KCLHF) had EBITDA of $244.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does KINGSOFT CLOUD HLDGS LTD have?
As of fiscal year 2025, KINGSOFT CLOUD HLDGS LTD (KCLHF) had $860.6M in cash and equivalents against $432.4M in long-term debt.
What is KINGSOFT CLOUD HLDGS LTD's gross margin?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 HLDGS LTD's operating margin?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 HLDGS LTD's net profit margin?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 HLDGS LTD's return on equity (ROE)?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 HLDGS LTD's operating cash flow?
KINGSOFT CLOUD HLDGS LTD (KCLHF) generated $543.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are KINGSOFT CLOUD HLDGS LTD's total assets?
KINGSOFT CLOUD HLDGS LTD (KCLHF) had $3.8B in total assets as of fiscal year 2025, including both current and long-term assets.
How much does KINGSOFT CLOUD HLDGS LTD spend on research and development?
KINGSOFT CLOUD HLDGS LTD (KCLHF) invested $115.9M in research and development during fiscal year 2025.
What is KINGSOFT CLOUD HLDGS LTD's current ratio?
KINGSOFT CLOUD HLDGS LTD (KCLHF) had a current ratio of 1.17 as of fiscal year 2025, which is considered adequate.
What is KINGSOFT CLOUD HLDGS LTD's debt-to-equity ratio?
KINGSOFT CLOUD HLDGS LTD (KCLHF) had a debt-to-equity ratio of 0.32 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is KINGSOFT CLOUD HLDGS LTD's liabilities-to-equity ratio?
KINGSOFT CLOUD HLDGS LTD (KCLHF) had a liabilities-to-equity ratio of 1.87 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is KINGSOFT CLOUD HLDGS LTD's return on assets (ROA)?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 HLDGS LTD's Altman Z-Score?
KINGSOFT CLOUD HLDGS LTD (KCLHF) has an Altman Z-Score of 0.68, 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 HLDGS LTD's Piotroski F-Score?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 HLDGS LTD's earnings high quality?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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 HLDGS LTD cover its interest payments?
KINGSOFT CLOUD HLDGS LTD (KCLHF) 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.