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Kingsoft Cloud Holdings Limited Balance Sheet 2025-2011 | KC
Brief overview of Kingsoft Cloud Holdings Limited's balance sheet strength
The balance sheet is assessed across five available annual reports spanning 2021 to 2025.
The balance sheet expanded from 21.1 billion CNY to 26.7 billion CNY. Growth of +26.8% and CAGR of 6.1% look measured and sustainable.
Funding shifted toward liabilities: they gained +81.7%, compared with +26.8% for assets.
Equity finances 34.9% of the balance sheet, compared with 54.5% at the start. The cushion remains adequate.
Net debt moved below zero to -3 billion CNY, reflecting surplus cash over debt.
Retained earnings remain negative at -15.2 billion CNY. This may reflect past losses or substantial shareholder distributions, so earnings and buybacks provide important context.
What the balance sheet shows
Kingsoft Cloud Holdings Limited retains a reasonably healthy balance sheet structure, which still needs support from earnings and cash flow.
Annual Balance Sheet Kingsoft Cloud Holdings Limited
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-2.95 B | -927 M | -2.08 B | -1.56 B | - | - | - | -1.25 B | - | - | - | - | - | - | - |
Long Term Debt |
3.02 B | 1.66 B | 100 M | 1.72 B | - | - | 74.4 M | 174 M | - | - | - | - | - | - | - |
Long Term Debt Current |
40.9 M | 61.3 M | 78.7 M | 137 M | - | 76.5 M | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
7.99 B | 2.93 B | 996 M | 1.07 B | 2.07 B | 224 M | 74.6 M | 7.67 B | - | - | - | - | - | - | - |
Total Current Liabilities |
9.42 B | 9.16 B | 6.83 B | 6.66 B | 7.52 B | 3.47 B | 2.42 B | - | - | - | - | - | - | - | - |
Total Liabilities |
17.4 B | 12.1 B | 7.82 B | 7.73 B | 9.59 B | 3.69 B | 2.49 B | 9.1 B | - | - | - | - | - | - | - |
Deferred Revenue |
270 M | 249 M | 434 M | 411 M | - | 191 M | - | 39 M | - | - | - | - | - | - | - |
Retained Earnings |
-15.2 B | -14.3 B | -12.3 B | -10.1 B | -7.45 B | -5.86 B | -4.9 B | -3.79 B | - | - | - | - | - | - | - |
Total Assets |
26.7 B | 17.6 B | 15.1 B | 17.3 B | 21.1 B | 11.9 B | 6.03 B | 5.86 B | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
6.02 B | 2.65 B | 2.26 B | 3.42 B | - | 3.42 B | - | - | - | - | - | - | - | - | - |
Book Value |
9.31 B | 5.51 B | 7.25 B | 9.58 B | 11.5 B | 8.24 B | 3.54 B | -3.24 B | - | - | - | - | - | - | - |
Total Shareholders Equity |
9.32 B | 5.17 B | 6.89 B | 8.8 B | 11.5 B | 8.24 B | -4.2 B | -3.24 B | - | - | - | - | - | - | - |
All numbers in CNY currency
Quarterly Balance Sheet Kingsoft Cloud Holdings Limited
| 2025-Q4 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
3.02 B | 1.66 B | 100 M | 1.72 B | - | - | - | 158 M | - | - | - | 183 M | - | - | - | 74.4 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
7.99 B | 2.93 B | 996 M | 1.07 B | 1.03 B | 891 M | - | 2.07 B | - | - | - | 224 M | - | - | - | 74.6 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
17.4 B | 12.1 B | 7.82 B | 7.73 B | 8.23 B | 8.29 B | - | 9.59 B | - | - | - | 3.69 B | - | - | - | 2.49 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
270 M | - | - | - | - | - | - | 379 M | - | - | - | 191 M | - | - | - | 79.6 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-15.2 B | -14.3 B | -12.3 B | -10.1 B | -9.61 B | -8.81 B | - | -7.45 B | - | - | - | -5.86 B | - | - | - | -4.9 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
26.7 B | 17.6 B | 15.1 B | 17.3 B | 18.5 B | 19 B | - | 21.1 B | - | - | - | 11.9 B | - | - | - | 6.03 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
6.02 B | - | - | - | - | - | - | 4.22 B | - | - | - | 3.42 B | - | - | - | 2.02 B | - | - | - | 1.51 B | - | - | - | 573 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
9.31 B | 5.51 B | 7.25 B | 9.58 B | 10.3 B | 10.7 B | - | 11.5 B | - | - | - | 8.24 B | - | - | - | 3.54 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
9.32 B | 5.17 B | 6.89 B | 9.58 B | 9.45 B | 9.84 B | - | 10.6 B | - | - | - | 8.24 B | - | - | - | -4.2 B | - | - | - | -3.24 B | - | - | - | -1.94 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in CNY currency
Balance Sheet is a fundamental financial report of Kingsoft Cloud Holdings Limited, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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