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Kingsoft Cloud Holdings Ltd (KC) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Kingsoft Cloud Holdings Ltd $10.62, price $9.68, upside +9.7%, quality 31 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Technology · US · ISIN US49639K1016

KC Kingsoft Cloud Holdings Ltd logo Thin data Sep 24, 2026

Kingsoft Cloud Holdings Ltd

KC · US

Low PriorityFair Value upside is limited and quality is weak.

·Fair value $10.62 · Fairly valued (+10%)
!Quality 31/100
!Expensive Growth (revenue 5y +7.8 %/yr)
!Loss-making · -9.4% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (4/10)
!Narrow moat 13/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$35.01 $1.90 Fair Value $10.62 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $1.90 – $35.01 · fair‑value band $7.92 – $13.30 · the $9.68 price screens below the $10.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. 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.

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Kingsoft Cloud Holdings Limited provides cloud services to businesses and organizations primarily in China. 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 $9.68, while our model-based Fair Value estimate is $10.62, implying the stock looks roughly 8.8% fairly valued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $7.92 (bear) to $13.30 (bull), the price of $9.68 sits inside 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 $3.0B · P/S ratio 0.29 · EPS (TTM) $−0.5100 · Net margin −9.8% · Return on equity −13.5% · Return on assets (EBIT) −7.3% · Operating margin −6.1% · Revenue (TTM) $10.3B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 47% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −13% fair-value upside, at 10%, KC screens cheaper than that median.

Fair Value models

Bear $7.92 Fair Value $10.62 Bull $13.30
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence Evidence = 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.
Highest evidence
EV/EBITDA $73.95 $95.15 $116.36 67
NCAV (Graham) $15.57 $20.87 $31.14 54
All 2 models by family
Multiples
EV/EBITDA $73.95 $95.15 $116.36 67
Asset-Based
NCAV (Graham) $15.57 $20.87 $31.14 54

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Quality Score breakdown

Overall quality 31/100

Of which business quality 34 · Market factors (momentum, volatility) 10

Profitability 7
Margins and returns on capital today
Quality Growth 67
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 6
Distance to the 52-week high (market factor)
Net Issuance 20
Share count: buybacks or dilution?

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Revenue & earnings trend

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%
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
not computed

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Peer GroupHow 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 · 702 stocks

Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 34 · Bottom 25%
Fair Value upside +5% · Above median
Profitability
Return on assets −2% · Below median
Net margin (TTM) −9% · Below median
Operating margin (TTM) −6% · Below median
Growth and dividend
Revenue growth 37% · Top 25%
Balance sheet
Debt / equity 0.32× · Highest 25%

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 0.32× · Cheapest 25%
P/S (TTM) 0.29× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)46 · sector 25
FUTURE (revenue growth)100 · sector 38
PAST (return on equity)0 · sector 16
HEALTH (low debt)84 · sector 97
DIVIDEND (yield)0 · sector 29

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €182.32 €159.06 −13%
Shopify Inc SHOP $147.74 $64.36 −56%
Uber Technologies, Inc UBER $69.89 $104.82 +50%
Salesforce, Inc CRM $233.28 $344.41 +48%
ServiceNow, Inc NOW $137.00 $150.70 +10%
Cadence Design Systems, Inc CDNS $302.95 $225.14 −26%
Snowflake Inc SNOW $336.59 $75.08 −78%
Datadog, Inc DDOG $247.48 $32.92 −87%
Adobe Inc ADBE $238.25 $454.04 +91%
Automatic Data Processing, Inc ADP $269.64 $177.51 −34%

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Cite: Fair Value Calculator (2026). "Kingsoft Cloud Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/KC

Frequently asked questions

Is Kingsoft Cloud Holdings Ltd (KC) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $10.62 versus a price of $9.68, about +10% upside (fairly valued).
What is the fair value of KC?
Our model-based fair value for Kingsoft Cloud Holdings Ltd is $10.62 (as of Sep 24, 2026), built from audited fundamentals. The current price: $9.68.
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 $10.62 (as of Sep 24, 2026) from 2 valuation models. Cautious scenario $7.92, optimistic scenario $13.30. 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 $10.62, about +10% upside versus a price of $9.68 (fairly valued). Cautious scenario $7.92, optimistic scenario $13.30. 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 $10.3B (latest available figure, as of Sep 24, 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 $10.62 per share (as of Sep 24, 2026), against a price of $9.68. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Kingsoft Cloud Holdings Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KC trades below its calculated fair value: price $9.68, fair value $10.62, a gap of about +10% (fairly valued). 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 ($9.68); the fair value is what the company's own numbers justify ($10.62). For Kingsoft Cloud Holdings Ltd the two are $0.9370 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 $3.0B (market capitalisation, as of Sep 24, 2026). Per share that is $9.68; our models calculate a fair value of $10.62 per share.
What do the bullish and bearish scenarios say about KC?
Our models span a range for Kingsoft Cloud Holdings Ltd: cautious scenario $7.92, base $10.62, optimistic $13.30 per share (as of Sep 24, 2026, price $9.68). 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 Sep 24, 2026): return on equity −13.5%, 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 $9.68, about 47% below its 52-week high of $18.21 and 13% above the low of $8.58 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $10.62 is for.
Which stocks are comparable to Kingsoft Cloud Holdings Ltd?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, 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 Sep 24, 2026: price $9.68, calculated fair value $10.62 (+10%), 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 four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $10.62, 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 14.1 % above its aggregate fair value. Kingsoft Cloud Holdings Ltd currently trades 10 % 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 Sep 23, 2026 was $9.68. Our model-based fair value is $10.62, about +10% upside (fairly valued). 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 price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

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 $3.0B. 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 0.29 (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 $−0.5100. 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 −13.5% (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 −6.1% (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 +37.2% 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 (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 (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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