Kingsoft Cloud Holdings Ltd (KC) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Kingsoft Cloud Holdings Ltd stock $12.56, price $8.52, upside +47.4%, quality 31 out of 100. Rating: undervalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $1.90 – $34.96 · fair‑value band $9.38 – $15.75 · the $8.52 price screens below the $12.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China.
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The company's product portfolio includes cloud products, such as infrastructure as a service (IaaS) infrastructure, platform as a service (PaaS) middleware, software as a service (SaaS) applications, and AI solution.
It offers research and development services, as well as enterprise digital solutions and related services.
The company also provides public cloud services to customers in various verticals, including video, e-commerce, intelligent mobility, artificial intelligence, and mobile internet; and enterprise cloud services to customers in financial services, public service, and healthcare businesses.
Kingsoft Cloud Holdings Limited was incorporated in 2012 and is headquartered in Beijing, China.
Stock analysis
Kingsoft Cloud Holdings Ltd (KC) currently trades at $8.52, while our model-based Fair Value estimate is $12.56, implying the stock looks roughly 32% undervalued today.
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Valuation
How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $9.38 (bear) to $15.75 (bull), the price of $8.52 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 31/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Kingsoft Cloud Holdings Ltd reported revenue of 9.6B CNY in FY2025 versus 9.1B CNY in FY2021, a compound +1.3%/yr. Reported net income was −936M CNY in FY2025.
Key figures
Market cap $2.6B Mid · P/S ratio 0.23 · EPS (TTM) $−0.2800 · Net margin −9.8% · Return on equity −7.6% · Return on assets (EBIT) −7.3% (5-year average) · Operating margin 0.8% · Revenue (TTM) 11.0B CNY.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 14 out of 100 (medium confidence).
What moves the price
The share trades about 53% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at 47%, KC screens cheaper than that median.
Fair Value models
Bear$9.38Fair Value $12.56Bull$15.75
Price $8.52 · Upside +47.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.24/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+22.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+29.1%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−18.4% (2020) → −5.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
AI conclusion: Ecosystem ties with Xiaomi and Kingsoft support AI cloud infrastructure advances, yet persistent losses and negative returns signal a weak competitive position with few durable advantages.
Main risk: External competition in AI services could limit commercialization gains from ecosystem opportunities and hit revenue growth in inference workloads plus new sectors such as autonomous driving.
Kingsoft Cloud is advancing its AI cloud infrastructure and Model as a Service platform to meet rising demand from inference workloads in coding and agent applications. It benefits from accelerating opportunities in the Xiaomi and Kingsoft ecosystems while expanding into new sectors such as autonomous driving and fintech. Our models currently see it as undervalued. Will the ecosystem ties deliver durable commercialization gains in AI services, or will external competition limit the upside?
Compare Kingsoft Cloud Holdings Ltd with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 630 stocks
Beats the industry median on 5/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score31 · Bottom 25%
Fair Value upside+47.4% · Top 25%
Profitability
Return on assets−3.5% · Below median
Net margin (12 months)−5.5% · Below median
Operating margin (12 months)0.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)30.8% · Top 25%
Balance sheet
Debt / equity0.32× · Highest 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
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Is Kingsoft Cloud Holdings Ltd (KC) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $12.56 versus a price of $8.52, about +47% upside (undervalued).
What is the fair value of KC?
Our model-based fair value for Kingsoft Cloud Holdings Ltd is $12.56 (as of Nov 6, 2026), built from audited fundamentals. The current price: $8.52.
What is the quality score of KC?
Kingsoft Cloud Holdings Ltd has a Quality Score of 31/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Kingsoft Cloud Holdings Ltd (KC)?
Our model-based price target is the fair value of $12.56 (as of Nov 6, 2026) from 2 valuation models. Cautious scenario $9.38, optimistic scenario $15.75. It is a calculation from audited fundamentals, not an analyst target.
What is the Kingsoft Cloud Holdings Ltd stock forecast for 2026?
Our models put fair value at $12.56, about +47% upside versus a price of $8.52 (undervalued). Cautious scenario $9.38, optimistic scenario $15.75. The calculation is refreshed regularly with new filings.
What is the revenue of Kingsoft Cloud Holdings Ltd (KC)?
Kingsoft Cloud Holdings Ltd reported trailing-twelve-month revenue of about 11.0B CNY (latest available figure, as of Nov 6, 2026).
What is the intrinsic value of Kingsoft Cloud Holdings Ltd (KC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kingsoft Cloud Holdings Ltd it is $12.56 per share (as of Nov 6, 2026), against a price of $8.52. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is Kingsoft Cloud Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 6, 2026, KC trades below its calculated fair value: price $8.52, fair value $12.56, a gap of about +47% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KC?
No. The price is what the market pays today ($8.52); the fair value is what the company's own numbers justify ($12.56). For Kingsoft Cloud Holdings Ltd the two are $4.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Kingsoft Cloud Holdings Ltd worth?
The market values Kingsoft Cloud Holdings Ltd at about $2.6B (market capitalisation, as of Nov 6, 2026). Per share that is $8.52; our models calculate a fair value of $12.56 per share.
What do the bullish and bearish scenarios say about KC?
Our models span a range for Kingsoft Cloud Holdings Ltd: cautious scenario $9.38, base $12.56, optimistic $15.75 per share (as of Nov 6, 2026, price $8.52). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Kingsoft Cloud Holdings Ltd (KC)?
Balance-sheet figures for Kingsoft Cloud Holdings Ltd (as of Nov 6, 2026): return on equity −7.6%, debt of 0.32 per unit of equity. They feed the Quality Score of 31/100, which measures business quality independently of the share price.
How far is KC from its 52-week high?
Kingsoft Cloud Holdings Ltd trades at $8.52, about 53% below its 52-week high of $18.21 and 12% above the low of $7.61 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $12.56 is for.
Which stocks are comparable to Kingsoft Cloud Holdings Ltd?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Kingsoft Cloud Holdings Ltd stock attractive at the current price?
The data as of Nov 6, 2026: price $8.52, calculated fair value $12.56 (+47%), Quality Score 31/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KC calculated?
We run Kingsoft Cloud Holdings Ltd through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of $12.56 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Kingsoft Cloud Holdings Ltd currently trades 32% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Kingsoft Cloud Holdings Ltd (KC)?
The closing price on Nov 6, 2026 was $8.52. Our model-based fair value is $12.56, about +47% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kingsoft Cloud Holdings Ltd right now?
The large discount to fair value meets weak quality (31/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($9.38). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Kingsoft Cloud Holdings Ltd
How large is the market capitalisation of Kingsoft Cloud Holdings Ltd (KC)?
The market capitalisation of Kingsoft Cloud Holdings Ltd is $2.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Kingsoft Cloud Holdings Ltd (KC)?
The price-to-sales ratio of Kingsoft Cloud Holdings Ltd is 0.23 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Kingsoft Cloud Holdings Ltd (KC)?
Earnings per share at Kingsoft Cloud Holdings Ltd are $−0.2800. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kingsoft Cloud Holdings Ltd (KC)?
The net margin of Kingsoft Cloud Holdings Ltd is −9.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Kingsoft Cloud Holdings Ltd (KC)?
The return on equity (ROE) of Kingsoft Cloud Holdings Ltd is −7.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Kingsoft Cloud Holdings Ltd (KC)?
On an EBIT basis the return on assets of Kingsoft Cloud Holdings Ltd is −7.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Kingsoft Cloud Holdings Ltd (KC)?
The operating margin of Kingsoft Cloud Holdings Ltd is 0.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kingsoft Cloud Holdings Ltd (KC)?
Revenue at Kingsoft Cloud Holdings Ltd is growing +30.8% versus a year earlier (3y avg +5.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Kingsoft Cloud Holdings Ltd (KC) generate?
The free cash flow of Kingsoft Cloud Holdings Ltd is −941M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Kingsoft Cloud Holdings Ltd (KC) carry?
The net debt of Kingsoft Cloud Holdings Ltd is 347M CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 6, 2026