What is Kingsoft Cloud Holdings Ltd (KC)'s fair-value range?

EvidInvest reads Kingsoft Cloud Holdings Ltd (KC)'s market price back into the assumptions behind it — the implied P/E, growth rate and cash yield — using its latest filed financials, then lets you set your own. See the full DCF, Graham number, EPV and multiple-based methods at https://evidinvest.com/valuation/KC.

How is Kingsoft Cloud Holdings Ltd (KC)'s fair value calculated?

Kingsoft Cloud Holdings Ltd (KC)'s fair value is computed with several independent methods — a discounted cash flow (DCF) model, the Graham number, earnings power value (EPV), and valuation multiples such as PE and EV/EBITDA — using data from SEC filings. P/B is optional for non-financial companies and included in the preset range for financial sectors.

What is Kingsoft Cloud Holdings Ltd (KC)'s PE ratio versus its industry?

EvidInvest shows Kingsoft Cloud Holdings Ltd (KC)'s current and historical PE ratio alongside its sector and industry averages, so you can see whether the stock trades at a premium or discount to peers. Full breakdown at https://evidinvest.com/valuation/KC.

Fair value · Kingsoft Cloud Holdings Ltd (KC) · updated 2026-10-22 · from 20-F FY2025

Kingsoft Cloud Holdings trades at $8.11. That price implies 9.7× EV/EBITDA.

Cboe · delayed 15 min · as of 17:49 ET

Statements filed in CNY, converted to USD at the 2025-12-31 period-end rate (7.0010 CNY per USD; ECB reference rates). Per-share figures are stated per ADS (15 ordinary shares per ADS) to match the quoted price.

Are those assumptions reasonable? Use KC’s filed growth history and the AI chat to decide, then set your own inputs below — the range you build is yours.

What the price implies

EV/EBITDA: 9.7×

Prices and market caps: Cboe delayed data, at least 15 minutes delayed. Not real-time. Fundamentals from company filings. This price: Cboe · delayed 15 min · as of 17:49 ET.

Set your own assumptions ↓See how each method got its number Check another stock

The filing behind these numbers

Kingsoft Cloud Holdings Ltd

Revenue: CNY 9.6B
Diluted EPS: CNY -0.23
Free cash flow: CNY -941.3M; operating cash flow − capital expenditure
Diluted shares: 4.11B; weighted average

20-F FY2025 · fiscal year ended 2025-12-31 · filed 2026-04-23 · accession 0001104659-26-047100

Open this filing on sec.gov

Valuation tool: build your own KC range

Fair Value Summary

Daily Price — KC

$8.79 -31.6% (1Y)

Range implied by today’s price1 of 7 methods

At least two methods need a usable value to draw a range with these inputs.

Range with preset inputs

$8.41 – $8.41

Price $8.11

Bear $8.41Base $8.41Bull $8.41

Every method that could be solved backwards opens on the assumption today’s price makes, so the top range sits on the price — that is arithmetic, not a view. Change any input and it becomes yours.

We don’t tell you what KC is worth. Every tab OPENS on what today’s price implies for that method’s key assumption; you decide whether that assumption is reasonable — the growth matrix has KC’s filed history and the AI chat will reason it through with you — and the range you build is yours. Our presets are filed history and reference settings, never a recommendation.

Discounted cash flow

N/A

Starting free cash flow is not positive; the model has nothing to grow.

Preset inputs — revenue-driven DCF from the latest filing

• Starting free cash flow is not positive; the model has nothing to grow.

Implied by today’s price

Starting free cash flow is not positive; the model has nothing to grow, so no growth rate reaches the price.

Not solvable from the price — Starting free cash flow is not positive; the model has nothing to grow, so no growth rate reaches the price. Showing preset inputs.

This method has no key input to read out of the price. The others below do, and you set them yourself: the growth matrix shows what KC has actually filed, and the AI chat will reason it through with you.

Your inputs

Free cash flow grows at your stage-1 rate, then your stage-2 rate, then a terminal rate; everything is discounted at your WACC.

Stage-1 growth5.0%

Yearly free-cash-flow growth for the first stage. Starts below zero so a shrinking-cash-flow case — and the rate today’s price implies — can be set.

-20.0%505.0%

Stage-1 years5 yrs

How long stage-1 growth lasts.

1 yrs10 yrs

Stage-2 growth2.5%

Slower growth after stage 1, before the terminal phase.

-20.0%30.0%

Stage-2 years5 yrs

0 yrs10 yrs

Terminal growth2.5%

Growth forever after the two stages. Above ~3% is rarely justified.

0.0%5.0%

Discount rate (WACC)10.34%

The return you require. Default is the WACC EvidInvest computed for this company. Higher discount rate, lower value.

3.00%15.00%

Net debt ($M)Debt minus cash, from the balance sheet. Subtracted from enterprise value.

Starting FCF ($M)Latest free cash flow from the filing (operating cash flow minus capex).

Shares (M)Diluted shares, from the filing.

Year by year (two-stage model, $M)

PV explicit $-1,000M · PV terminal $-946M · EV $-1,946M · equity $-2,555M

Year	Stage	FCF	Present value
1	Stage 1	$-141M	$-128M
2	Stage 1	$-148M	$-121M
3	Stage 1	$-155M	$-115M
4	Stage 1	$-163M	$-110M
5	Stage 1	$-171M	$-105M
6	Stage 2	$-175M	$-97M
7	Stage 2	$-180M	$-90M
8	Stage 2	$-184M	$-84M
9	Stage 2	$-189M	$-78M
10	Stage 2	$-193M	$-72M

Inputs from the filing

Statements filed in CNY, converted to USD at the 2025-12-31 period-end rate (7.0010 CNY per USD; ECB reference rates).

Free cash flow: $-134.5M; latest full year
EBIT: $-110.4M; latest annual
Shares: 273.8M; ADS equivalent
Total debt: $1.5B
Cash: $859.6M
Net debt: $609.4M; debt − cash

20-F FY2025 · period ended 2025-12-31 · filed 2026-04-23 · accession 0001104659-26-047100 · sec.gov

Prefer a blank slate with reverse DCF? Open the standalone DCF / reverse DCF for KC

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Download the full KC valuation report (PDF) — free

DCF fair value, Graham number, EPV, key multiples and growth rates in one clean PDF.

Options positioning

Full options view: walls, IV term structure, smile →

0.36

Put/Call (OI)

call-heavy

0.12

Put/Call (volume)

73%

ATM IV ~30d

$10

Call wall

4k OI

$7.5

Put wall

0k OI

As of previous close (2026-10-06) · OPRA historical data · walls = largest open-interest strikes above/below spot · market-wide positioning

Kingsoft Cloud Holdings trades at $8.11. That price implies 9.7× EV/EBITDA.

The filing behind these numbers

Valuation tool: build your own KC range

Daily Price — KC

Range implied by today’s price1 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

Options positioning

More on KC

Compare with peers

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Valuation tool: build your own KC range

Daily Price — KC

Range implied by today’s price1 of 7 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

Options positioning

More on KC

Compare with peers

Explore