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Kingsoft Cloud Holdings Ltd (KC) stock

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NASDAQ: KC Nasdaq Application Software Next results ~November 24, 2026

C+ Fundamentals grade

Kingsoft Cloud Holdings Ltd is a US-listed company in the application software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$18

Revenue-to-maturity cash-flow model

Base case. Range ~$14–$22 across our lower- and higher-growth cases (17.9%–27.9% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Kingsoft Cloud Holdings Ltd valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds53 adding, 43 cuttingOf 17 active managers that changed their stake, 11 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Kingsoft Cloud Holdings files

Where Kingsoft Cloud stands after its latest Filing

Revenue for the twelve months was $1.33bn, up 22.9% on a year earlier, faster than the 8.6% growth a quarter earlier. Free-cash-flow margin rose to 13.8% from -17.3% a year earlier. Operating margin widened to -8.1% from -20.0%. The diluted share count is up 12.3% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $17.73 a share, against a share price of $7.77.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 24, 2026 (estimated)

Kingsoft Cloud Holdings Ltd's trailing-twelve-month revenue grew 22.9% year on year, with a free-cash-flow margin of 13.8%. Where it stands out: change in growth rate of +14.3pp ranks 22 of 184 application software companies we cover. Where it lags: gross margin of 15.7% ranks 152 of 160 application software companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 22.9% (+14.3pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 22.9% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • Growth speeding up. The growth rate is 14.3 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 14.3 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.4bn.

Things to watch

  • Loss-making. Operating margin is -8.1%: costs exceed revenue.
  • Share dilution. Diluted shares rose 12.3% in a year.
  • Below peers: gross margin. Gross margin of 15.7% ranks 152 of 160 application software companies we cover (median 69.8%).

Latest results

Earnings per share
-$0.20 against an average estimate of -$0.46: beat by 57.3%
Next report
November 24, 2026

Kingsoft Cloud Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.2%
  • 1 week-8.5%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.3B
Operating margin
-8.1%
Net margin
-9.8%
EPS (TTM, diluted)
$-0.48

Growth

Revenue growth
+22.9%
Change in growth rate
+14.3 pts
Share count change
+12.3%

Cash

Free cash flow (TTM)
$184M
FCF margin
13.8%
Stock pay % of revenue
4.7%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for KC from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Kingsoft Cloud Holdings Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Kingsoft Cloud Holdings Ltd as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$18 ~$14–$22 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.3 ~$8.1–$33 Left out: out of range vs price (0.04x)
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$18 ~$14–$22 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Kingsoft Cloud Holdings Ltd with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 24, 2026, before the open.

Analysts' consensus

No analyst estimates are published for Kingsoft Cloud Holdings Ltd: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.46 −$0.20 +57.3%
Mar 2026 −$0.78 −$0.78 −0.1%
Dec 2025 −$0.57 −$0.31 +44.9%
Sept 2025 −$0.72 $0.10 +114.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

14 analysts, Nov 2026
Buy14100%
Hold00%
Sell00%

Monthly trend

  1. Nov 202631114
  2. Oct 202631114

Counts of recommendations published by analysts covering Kingsoft Cloud Holdings Ltd, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.6%
of tradable shares
Days to cover
6.08
at average volume
Short interest, 1 month
+25%
to October 15, 2026
Held by institutions
5%
of shares
Held by insiders
0.0%
of shares
Employees
14,394
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Kingsoft Cloud Holdings Ltd in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Kingsoft Cloud Holdings Ltd
$0 $500M $1B $1.5B FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue (TTM), FY18 Q4: $336.1M Revenue (TTM), FY19 Q4: $573M Revenue (TTM), FY20 Q4: $953.3M Revenue (TTM), FY21 Q4: $1.4B Revenue (TTM), FY22 Q4: $1.2B Revenue (TTM), FY23 Q4: $996M Revenue (TTM), FY24 Q4: $1.1B Revenue (TTM), FY25 Q4: $1.3B $1.3B

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY18 Q4 $336.1M
FY19 Q4 $573M
FY20 Q4 $953.3M
FY21 Q4 $1.4B
FY22 Q4 $1.2B
FY23 Q4 $996M
FY24 Q4 $1.1B
FY25 Q4 $1.3B
Revenue growth, TTM YoY Kingsoft Cloud Holdings Ltd
-50% 0% 50% 100% FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue growth, TTM YoY, FY19 Q4: 70.5% Revenue growth, TTM YoY, FY20 Q4: 66.4% Revenue growth, TTM YoY, FY21 Q4: 47.3% Revenue growth, TTM YoY, FY22 Q4: -13.3% Revenue growth, TTM YoY, FY23 Q4: -18.2% Revenue growth, TTM YoY, FY24 Q4: 8.6% Revenue growth, TTM YoY, FY25 Q4: 22.9% 22.9%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY19 Q4 70.5%
FY20 Q4 66.4%
FY21 Q4 47.3%
FY22 Q4 -13.3%
FY23 Q4 -18.2%
FY24 Q4 8.6%
FY25 Q4 22.9%
Operating margin (TTM) Kingsoft Cloud Holdings Ltd
-60% -40% -20% 0% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Operating margin (TTM), FY18 Q4: -44.2% Operating margin (TTM), FY19 Q4: -28.9% Operating margin (TTM), FY20 Q4: -18.4% Operating margin (TTM), FY21 Q4: -20.0% Operating margin (TTM), FY22 Q4: -27.5% Operating margin (TTM), FY23 Q4: -29.9% Operating margin (TTM), FY24 Q4: -22.3% Operating margin (TTM), FY25 Q4: -8.1% -8.1%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY18 Q4 -44.2%
FY19 Q4 -28.9%
FY20 Q4 -18.4%
FY21 Q4 -20.0%
FY22 Q4 -27.5%
FY23 Q4 -29.9%
FY24 Q4 -22.3%
FY25 Q4 -8.1%
FCF margin (TTM) Kingsoft Cloud Holdings Ltd
-40% -20% 0% 20% FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY18 Q4: -35.9% FCF margin (TTM), FY19 Q4: -26.4% FCF margin (TTM), FY20 Q4: -15.9% FCF margin (TTM), FY21 Q4: -17.3% FCF margin (TTM), FY22 Q4: -11.8% FCF margin (TTM), FY23 Q4: -15.7% FCF margin (TTM), FY24 Q4: -8.2% FCF margin (TTM), FY25 Q4: 13.8% 13.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY18 Q4 -35.9%
FY19 Q4 -26.4%
FY20 Q4 -15.9%
FY21 Q4 -17.3%
FY22 Q4 -11.8%
FY23 Q4 -15.7%
FY24 Q4 -8.2%
FY25 Q4 13.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 336 573 953 1,405 1,218 996 1,082 1,330
Gross profit −30 1 52 54 64 120 186 209
EBITDA −86 −78 −65 −148 −163 −165 −66 238
Operating income −148 −166 −175 −281 −335 −298 −242 −108
Net income −153 −161 −139 −246 −396 −308 −273 −130
Diluted EPS — −$2.85 −$0.89 −$1.07 −$1.63 −$1.29 −$1.13 −$0.48
Growth (year on year)
Revenue — +70.5% +66.4% +47.3% −13.3% −18.2% +8.6% +22.9%
Margins
Gross margin −9.0% 0.2% 5.4% 3.9% 5.3% 12.1% 17.2% 15.7%
EBITDA margin −25.6% −13.6% −6.8% −10.6% −13.4% −16.6% −6.1% 17.9%
Operating margin −44.2% −28.9% −18.4% −20.0% −27.5% −29.9% −22.3% −8.1%
Net margin −45.4% −28.1% −14.6% −17.5% −32.5% −30.9% −25.3% −9.8%
Cash flow
Cash from operations −58 −64 −42 −110 28 −24 87 529
Stock-based pay 7 18 48 67 54 26 30 62
Balance sheet
Cash 219 291 525 662 496 318 363 861
Total debt 0 25 54 212 382 456 1,086 1,469
Net debt (negative = net cash) −219 −266 −471 −450 −114 138 723 609
Diluted shares 53m 59m 160m 229m 242m 237m 244m 274m
Returned to shareholders
Buybacks — — — — 31 0 0 —
Total returned — — — — 31 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · December 31, 2025
What it owns · $3.8bn
Short-term assets $1.6bnLonger-term assets $2.2bn
What it owes, and who funded it · $3.8bn
Short-term liabilities $1.3bnLonger-term liabilities $1.1bnShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $1.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.6bn short-term assets against $1.1bn of longer-dated liabilities.
  • More cash than debt $861m of cash against $911m of debt.
  • Debt below 40% of shareholders' equity Debt is 68% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $529m of operating cash flow against $911m of debt.
  • Operating profit covers interest at least five times over Operating income of −$108m against $69m of interest.

From Kingsoft Cloud Holdings Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2024 Q4 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$31M
Diluted share count
+12.3%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
R&D spending
8.5%
of revenue
Days sales outstanding
68 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated KC DLB KVYO GTM PCOR BOX Median
Revenue, last 12 months $1.3bn $1.4bn $1.4bn $1.3bn $1.4bn $1.2bn $482m
Revenue growth, last 12 months 22.9% 0.6% 28.9% 2.7% 15.4% 9.6% 12.0%
Revenue growth, 3-year average — 1.7% 33.4% 1.6% 19.6% 6.6% 11.1%
Revenue growth, latest quarter — −3.3% 26.4% 1.2% 15.8% 9.2% 11.9%
Gross margin 15.7% 87.6% 73.8% 83.5% 80.0% 79.5% 69.2%
Operating margin −8.1% 17.7% −1.9% −35.2% −4.9% 9.4% 1.1%
Operating margin, 3-year average — 18.4% −19.2% −2.6% −10.0% 7.4% −0.8%
Net margin −9.8% 16.7% 0.5% −43.0% −2.7% 10.6% 2.1%
Cash from operations / revenue 39.8% 32.3% 19.9% 34.9% 25.9% 32.0% 18.2%
Free-cash-flow margin 13.8% 29.0% 18.2% 28.5% 24.4% 31.5% 15.0%
Free-cash-flow margin, 3-year average — 27.5% 16.2% 28.3% 18.0% 30.6% 16.2%
Stock pay / revenue 4.7% 9.6% 12.3% 8.6% 17.5% 19.1% 9.3%
Change in share count 12.3% −1.2% 10.0% — 1.3% −4.0% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 22.9% 12.0% 44 of 184
Change in growth rate Growth +14.3pp +0.2pp 22 of 184
Gross margin Profitability 15.7% 69.8% 152 of 160
Operating margin Profitability -8.1% 1.1% 119 of 181
Net margin Profitability -9.8% 2.1% 120 of 185
Free-cash-flow margin Cash generation 13.8% 15.2% 97 of 180
Stock pay as % of revenue Cash generation 4.7% 9.3% 41 of 177
Long-term debt as % of assets Balance sheet 11.3% 16.9% 37 of 98
Change in share count Balance sheet 12.3% 1.7% 130 of 163
Days sales outstanding Balance sheet 68 days 57 days 104 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$129M
Institutions reporting
85
Shares held vs prior quarter
▲ 8.9%
Positions opened / closed
21 / 19

Top buyers and sellers, Q2 2026: 53 institutions bought and 43 sold ; the biggest buyer was Artisan Partners Limited Partnership (+1.1M shares) and the biggest seller Jane Street Group, LLC (−810K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Artisan Partners Limited Partnership $31.4M 3.5M 24.3% ▲ 47.5%
Citigroup Inc $10.5M 1.2M 8.2% ▲ 34.1%
UBS Group AG $9.4M 1.0M 7.3% ▼ 38.5%
Bank Of America Corp $8.3M 914K 6.4% ▲ 452.3%
State Street Corp $8.1M 891K 6.2% ▲ 5.4%
Morgan Stanley $6.6M 734K 5.2% ▲ 15.7%
Manufacturers Life Insurance Company, The $6.4M 712K 5.0% ▲ 0.6%
Defiance Etfs, LLC $5.9M 642K 4.6% ▼ 2.6%
Penserra Capital Management LLC $5.8M 642K 4.5% ▼ 2.6%
Matthews International Capital Management LLC $4.3M 478K 3.4% ▲ 116.8%
BNP Paribas Financial Markets $3.1M 347K 2.4% ▲ 1377.8%
Maxi Investments Cy Ltd $3.1M 343K 2.4% ▲ 255.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Kingsoft Cloud Holdings Ltd's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $192,260 2 trades by 1 insider · 0% under pre-set plans
Net ▼ $192,260 net selling
Insider Date Trade Shares Price Value
Zou Tao Acting Chief Executive Officer July 17, 2026 Sell 274,000 $0.64 $175,360
Zou Tao Acting Chief Executive Officer July 17, 2026 Sell 26,000 $0.65 $16,900

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Kingsoft Cloud Holdings Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Kingsoft Cloud Holdings Ltd in brief

What does Kingsoft Cloud Holdings Ltd do?
Kingsoft Cloud Holdings Ltd is a US-listed company in the application software industry. Its financial year ends in December.
What is Kingsoft Cloud Holdings Ltd's stock ticker?
Kingsoft Cloud Holdings Ltd trades under the ticker KC on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Kingsoft Cloud Holdings Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Kingsoft Cloud Holdings Ltd reported revenue of $1.3B, 22.9% higher than a year earlier, according to its SEC filings.
What is Kingsoft Cloud Holdings Ltd's free cash flow?
Kingsoft Cloud Holdings Ltd's free-cash-flow margin is 13.8% of revenue over the trailing twelve months, ranking 97 of the 180 application software companies we cover.
Who are Kingsoft Cloud Holdings Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Artisan Partners Limited Partnership, Citigroup Inc and UBS Group AG. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Kingsoft Cloud Holdings Ltd buying back stock, and does it pay a dividend?
Kingsoft Cloud Holdings Ltd spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 12.3% over the year.
How much debt does Kingsoft Cloud Holdings Ltd have?
Kingsoft Cloud Holdings Ltd's debt-to-equity ratio is 68.4%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Kingsoft Cloud Holdings Ltd's competitors?
In our Application Software peer group, the companies closest to Kingsoft Cloud Holdings Ltd are Dolby Laboratories, Inc., Klaviyo, Inc., Zoominfo Technologies Inc., Procore Technologies, Inc. and BOX Inc. The side-by-side comparison below sets their revenue, margins and growth against Kingsoft Cloud Holdings Ltd's.
Are insiders buying or selling Kingsoft Cloud Holdings Ltd stock?
Over the last 12 months, Kingsoft Cloud Holdings Ltd's directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Kingsoft Cloud Holdings Ltd's next earnings date?
Around November 24, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Kingsoft Cloud Holdings Ltd announces its own schedule.