Kingsoft Cloud Holdings Limited (KC)

Nasdaq: KC · Services-Prepackaged Software · Haidian District, Beijing, CN · filing with the SEC since 2019

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Grade4.1

◀ Past 4.0● Present 3.4▶ Future 4.8

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Kingsoft Cloud Holdings Limited

Nine metrics read from its own filings, by tense

Headline grade

4.1/10

◀ Past4.025% of the headline

● Present3.435% of the headline

▶ Future4.840% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.0/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed

7.3/10

Has it survived what it has been through?

No warning events in its filings since 2019.

weight 22% of this tense · 73rd percentile among 230 sector filers · read for itself

From the record

Kingsoft Cloud Holdings Limited's filings since 2019 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

3.2/10

What has it actually done, year after year?

+23.2% a year over 8 filed years; profitable in 0 of 8.

weight 45% of this tense · 32nd percentile among 213 sector filers · read for its customers

From the record

Kingsoft Cloud Holdings Limited's 8 filed years say what it did: revenue went from CNY 2.2 billion in fiscal 2018 to CNY 9.6 billion in fiscal 2025, up 23.2% a year; it rose in 5 of 7 years; the deepest fall was 22% from fiscal 2021 to fiscal 2023; net income was positive in 0 of 8 of those years (its annual reports).

What it rests on

revenue growth over the filed span23.2%top 40% of its family
the share of years revenue rosebottom 27% of its family
the share of filed years with a profitbottom 17% of its family
the deepest fall from a revenue peak22.2%bottom 26% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

2.9/10

How has it treated the people who own it?

Share count grew 4.3% a year. 0% of cash flow returned. Insiders: 2 sales, 0 purchases.

weight 33% of this tense · 29th percentile among 152 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Kingsoft Cloud Holdings Limited's diluted share count grew about 4.3% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 2 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 43% of its family
cash returned against operating cash flowbottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.4/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

2.6/10

Is it financially healthy right now?

ROE -10%: lost 10¢ per shareholder dollar. Leverage 65%: owes 65¢ per asset dollar.

weight 45% of this tense · 26th percentile among 217 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Kingsoft Cloud Holdings Limited lost about 10 cents for every dollar of shareholders' money, and gross profitability: its products earned about 6 cents per dollar of everything the company owns. Leverage: it owed about 65 cents per dollar of assets, and net share issuance: its share count grew 12.3% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 28% of its family
return on equitybottom 41% of its family
gross profit against assetsbottom 7% of its family
the share count against the year beforebottom 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

3.5/10

How strong is its position in its industry?

bottom 35% of 218 in its family; net margin -9.8%.

weight 33% of this tense · 35th percentile among 218 sector filers · read for its customers

From the record

Kingsoft Cloud Holdings Limited's standing among 218 graded names in its industry family: revenue of CNY 9.6 billion in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of -9.8% ranks in the bottom 39%; revenue growth of 5.3% a year over the last 3 filed years ranks in the bottom 31% (its annual reports).

What it rests on

net margin-9.8%bottom 39% of its family
three-year revenue growth5.3%bottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.8/10

What are the people in charge doing?

SI estimate 4.8/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 157 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 157 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 157 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Kingsoft Cloud Holdings Limited's leadership is put at 4.8 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 157 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.8/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

3.3/10

How much room does it have to grow?

bottom 33% of 216 in its family for room to expand.

weight 22% of this tense · 33rd percentile among 216 sector filers · read for itself

From the record

Kingsoft Cloud Holdings Limited's room to grow, from the newest filed statements (fiscal 2025): cash of CNY 6.0 billion against debt of CNY 6.4 billion leaves -1.3% of its assets as net cash, bottom 20% of its family; cash from operations less capital spending is 39.8% of revenue (top 5%); a gross margin of 15.7% (bottom 4%); research spending of 8.5% of revenue (bottom 14%) (its annual report).

What it rests on

cash less debt against assets-1.3%bottom 20% of its family
cash from operations less capital spending against revenue39.8%top 5% of its family
gross margin15.7%bottom 4% of its family
research spending against revenue8.5%bottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.8/10

What could actually drive growth from here?

bottom 38% of 213 in its family for growth drivers.

weight 45% of this tense · 38th percentile among 213 sector filers · read for its customers

From the record

Kingsoft Cloud Holdings Limited's growth drivers, from the filed years to fiscal 2025: revenue grew 5.3% a year over the last three filed years against 23.2% over all 8, slowing (bottom 19% of its family); the newest year grew 22.8% (top 26%); research spending grew -5.9% a year (bottom 20%) (its annual reports). Kingsoft Cloud Holdings Limited reported 2 product lines in fiscal 2025: Public Cloud Service at CNY 6.6 billion (69%), Enterprise Cloud Services at CNY 2.9 billion (31%); 2 of 2 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span-17.9 points a yearbottom 19% of its family
the newest year's revenue growth22.8%top 26% of its family
three-year growth of research spending-5.9%bottom 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

7.3/10

Did its newest year beat what its own record pointed to?

top 27% of 194 in its family for expectations against reality.

weight 33% of this tense · 73rd percentile among 194 sector filers · read for its shareholders

From the record

Kingsoft Cloud Holdings Limited's newest year against its own record: revenue of CNY 9.6 billion in fiscal 2025 came in 25.9% above the CNY 7.6 billion its prior three years' pace pointed to (top 11% of its family); net income of CNY 936 million against a prior three-year average of CNY 2.3 billion (top 40%); a net margin of -9.8% against -29.5% before (top 31%) (its annual reports).

What it rests on

revenue against the prior three years' pace25.9%top 11% of its family
net income against the prior three years' average+59%top 40% of its family
net margin against its prior average+19.8 pointstop 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton KC · research, not advice