Kingsoft Cloud Holdings Ltd
KC, KCLHF · Services-Prepackaged Software · EDGAR filings ↗
Grade
C52Chinese cloud-services company — operating loss but positive operating cash flow amid restructuring.
Strengths
- Positive operating cash flow, cash-rich — OCF margin 40% (94th), current ratio 8.2 (94th)
Risks
- Operating loss, revenue decline — operating margin -57%, revenue -82% (deconsolidation)
- China/VIE and customer-concentration risk — per 10-K
- Capital-intensity/competition risk — per 10-K
Notable findings
- Net lossNet loss (net margin -9.8%)
- Material weaknessIf we fail to implement and maintain an effective system of internal controls to remediate our material weakness over financial reporting, we may be unable to accurately report our results of operatio
- Strong balance sheetStrong balance sheet — $894M cash & investments
- Notable holderHeld by 2 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC (as of 2026-03-31)
- AccumulatingInstitutional holders rose 4→5 QoQ (2025-12-31→2026-03-31)
Key metrics
Gross margin
15.7%
Operating margin
-8.1%
Net margin
-9.8%
Return on equity
-10.0%
Return on assets
-3.5%
ROIC
-4.9%
Revenue growth (QoQ)
28.2%
Debt / equity
0.3×
Net debt / EBITDA
-1.9×
Current ratio
1.2×
EBITDA
$244M
Tangible book value
$598M
Cash & investments
$894M
Stock comp / revenue
4.7%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-23 | 2025-12-31 | 0001104659-26-047100 ↗ |
| 20-F | 2025-04-15 | 2024-12-31 | 0001410578-25-000732 ↗ |
| 20-F | 2024-04-30 | 2023-12-31 | 0001104659-24-054351 ↗ |
| 20-F | 2023-04-27 | 2022-12-31 | 0001104659-23-050820 ↗ |
| 20-F | 2022-05-02 | 2021-12-31 | 0001193125-22-135476 ↗ |
| 20-F | 2021-04-22 | 2020-12-31 | 0001193125-21-125812 ↗ |