Kingsoft Cloud Holdings Ltd balance sheet KC

Annual Quarterly

As of Dec 31, 2025, Kingsoft Cloud Holdings Ltd had total assets of $3.8 billion and total liabilities of $2.5 billion. Total assets were up 58.6% from a year earlier. Stockholders' equity was $1.3 billion. It held $894.1 million in cash and investments against $1.9 billion of total debt, net debt of $1.1 billion. The current ratio, current assets divided by current liabilities, was 1.17.

USD in millions, except ratios and per-share amounts. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2022	FY 2021 Dec 31, 2021	FY 2020 Dec 31, 2020
Assets
Cash	861 +137.2%	363 +14.2%	318 -35.9%	496 -25.1%	662 +26.1%	525
Short-term investments	0 -100.0%	12	—	182 -53.5%	391 -5.3%	413
Long-term investments	33	—	—	—	—	—
Cash and investments	894 +138.2%	375 +18.1%	318 -53.1%	677 -35.6%	1,053 +12.3%	938
Receivables	249 +23.7%	201 -6.6%	215 -38.1%	348 -37.8%	560 +56.6%	358
Total current assets	1,576 +68.2%	937 +9.1%	859 -34.5%	1,312 -32.6%	1,948 +33.2%	1,463
Property and equipment, net	1,444 +127.6%	634 +106.0%	308 -0.4%	309 -16.6%	371 +23.7%	300
Goodwill	659 +4.4%	631 -2.7%	649 -2.9%	668 -8.0%	726	—
Total assets	3,822 +58.6%	2,410 +13.5%	2,123 -15.5%	2,511 -24.1%	3,308 +80.9%	1,828
Liabilities and equity
Accounts payable	288 +12.0%	257 +1.1%	254 -23.8%	334 -27.6%	461 +46.3%	315
Total current liabilities	1,347 +7.4%	1,255 +30.5%	962 -0.4%	965 -18.1%	1,179 +122.1%	531
Total liabilities	2,490 +50.4%	1,656 +50.3%	1,102 -1.7%	1,121 -25.5%	1,504 +166.0%	565
Stockholders' equity	1,332 +88.2%	708 -27.0%	970 -23.9%	1,276 -23.3%	1,664 +31.8%	1,263
Debt
Debt due within a year	958 +57.0%	610 +33.7%	456 +19.4%	382 -9.7%	423 +337.3%	97
Long-term debt	432 +90.0%	227	—	—	—	—
Lease liabilities	560 +212.0%	179 +148.9%	72 +91.3%	38 -10.1%	42 +5.3%	40
Total debt	1,949 +91.7%	1,017 +92.5%	528 +25.9%	420 -9.8%	465 +240.6%	137
Net cash	-1,055 -64.5%	-641 -204.7%	-211 -181.6%	258 -56.1%	588 -26.6%	801
Ratios
Current ratio	1.17x	0.75x	0.89x	1.36x	1.65x	2.75x
Debt to equity	1.46x	1.44x	0.54x	0.33x	0.28x	0.11x
Debt to EBITDA	7.98x	—	—	—	—	—
Return on equity	-10.05%	-38.05%	-31.59%	-30.20%	-14.98%	-11.68%
Return on assets	-3.50%	-11.18%	-14.44%	-15.35%	-7.54%	-8.07%
Book value per share	0.36	0.16	0.27	0.36	0.46	0.38

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except ratios and per-share amounts. Cash and investments adds short-term and long-term marketable securities to cash. Debt due within a year is the borrowings that are not already in long-term debt. Total debt is those borrowings plus lease liabilities. Net cash is cash and investments minus total debt. Return on equity and return on assets divide the trailing twelve months of net income by the balance on that date. Debt to EBITDA uses the trailing twelve months of EBITDA. More on our methodology.

Company profile

Industry: Services-Prepackaged Software (SIC 7372)
Listed as: KC (Nasdaq), KCLHF (OTC)
Fiscal year ends: December 31
Incorporated in: Cayman Islands
Headquarters: Haidian District, Beijing
SEC filer status: Large accelerated filer
SEC CIK: 1795589

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.