Kingsoft Cloud Holdings Limited Financial Ratios — KC Stock

Profitability (CNY)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-34.35	-18.69	-10.71	-9.63	-13.85	-13.44	-12.04	-4.22
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	-9.56	-9.03	0.19	5.43	3.88	5.25	12.06	17.22	15.73
EBITDA Margin (%)	-34.73	-25.56	-13.62	-7.03	-9.59	-13.09	-5.87	5.62	20.43
Operating Margin (%)	-58.81	-44.15	-28.9	-18.55	-19.03	-27.24	-19.22	-10.61	-5.52
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	-10.61
Pretax Margin (%)	-57.73	-44.94	-27.86	-14.4	-17.39	-32.57	-30.73	-25.44	-9.92
Profit Margin (%)	-57.79	-45.37	-28.09	-14.63	-17.53	-32.5	-30.88	-25.26	-9.79
Net Income to Common Margin (%)	-57.79	-45.37	-28.09	-14.63	-17.53	-32.5	-30.88	-25.26	-9.79
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (CNY)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	255	174	612	1,615	1,350	1,722	5,195	10,285
ST Debt	- -	81	100	429	1,457	1,046	1,226	2,772	4,657
LT Debt	- -	174	74	183	158	304	497	2,423	5,628
Total Debt/EBITDA	- -	-0.45	-0.32	-1.32	-1.86	-1.26	-4.16	11.88	5.27
Net Debt/EBITDA	- -	2.21	3.43	6.65	3.3	2.34	2.52	2.83	0.18
Total Debt/EBIT	- -	-0.26	-0.15	-0.5	-0.94	-0.61	-1.27	-6.29	-19.5
Net Debt/EBIT	- -	1.28	1.62	2.52	1.66	1.13	0.77	-1.5	-0.67
EBITDA to Interest Expense	-11.79	-14.61	-109.43	-48.9	-16.7	-7.77	-2.84	1.9	3.92
EBITDA-CapEx/Interest Expense	-21.43	-42.84	-312.41	-217.28	-30.83	-18.2	-16.29	-14.13	-5.6
EBIT to Interest Expense	-19.96	-25.23	-232.19	-129.09	-33.14	-16.17	-9.28	-3.59	-1.06
Interest Expense	36	39	5	9	52	138	146	230	498
Common Equity/Total Assets	- -	-64.62	-81.18	-48.97	-35.23	-58.36	-81.55	-81.09	-56.93
Long-Term Debt/Equity (%)	- -	- -	- -	2.22	1.38	3.17	6.85	44.02	60.43
Long-Term Debt/Capital (%)	- -	-5.12	-1.62	-3.5	-3.22	-3.81	-4.86	-27.75	-114
Long-Term Debt/Total Assets (%)	- -	2.98	1.23	1.53	0.75	1.75	3.3	13.78	21.05
Total Debt/Equity (%)	- -	-7.87	-4.15	7.43	14.05	14.09	23.77	94.37	110.43
Total Debt/Capital (%)	- -	-7.49	-3.79	-11.71	-32.81	-16.93	-16.87	-59.49	-208.35
Total Debt/Total Assets (%)	- -	4.35	2.89	5.13	7.66	7.8	11.43	29.53	38.48
Net Debt to Equity	- -	38.6	44.05	-37.28	-24.97	-26.19	-14.41	22.48	3.8
Net Debt/Capital (%)	- -	25.47	27.92	35.5	31.39	22.03	8.38	-10.87	-3.23
EBITDA	-429	-567	-539	-462	-869	-1,071	-414	437	1,953
EBITDA-CapEx	-780	-1,663	-1,539	-2,054	-1,604	-2,508	-2,379	-3,246	-2,789
Operating Income (Loss)	-727	-979	-1,144	-1,220	-1,724	-2,228	-1,355	-826	-527

Liquidity (CNY)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	2.59	0.93	1.77	0.89	0.7	0.33	0.3	0.64
Current Ratio	- -	3.29	1.71	2.75	1.65	1.36	0.89	0.75	1.17
Quick Ratio	- -	3.13	1.55	2.57	1.5	1.2	0.7	0.59	0.97
CFO/Avg Current Liab	- -	-0.53	-0.23	-0.1	-0.13	0.03	-0.03	0.08	0.41
Common Equity/Total Assets	- -	-64.62	-81.18	-48.97	-35.23	-58.36	-81.55	-81.09	-56.93
Long-Term Debt/Equity (%)	- -	- -	- -	2.22	1.38	3.17	6.85	44.02	60.43
Long-Term Debt/Capital (%)	- -	-5.12	-1.62	-3.5	-3.22	-3.81	-4.86	-27.75	-114
Long-Term Debt/Total Assets (%)	- -	2.98	1.23	1.53	0.75	1.75	3.3	13.78	21.05
Total Debt/Equity (%)	- -	-7.87	-4.15	7.43	14.05	14.09	23.77	94.37	110.43
Total Debt/Capital (%)	- -	-7.49	-3.79	-11.71	-32.81	-16.93	-16.87	-59.49	-208.35
Total Debt/Total Assets (%)	- -	4.35	2.89	5.13	7.66	7.8	11.43	29.53	38.48
CFO/Total Liabilities	- -	-4.21	-4.29	-7.87	-7.4	2.44	-2.16	5.2	21.82
CFO/CapEx	-0.38	-0.35	-0.44	-0.18	-0.96	0.13	-0.09	0.17	0.8
Altman's Z-Score	- -	-0.4	-0.76	10.43	1.36	-0.4	-1.13	-0.52	0.21

Working Capital (CNY)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	8.19	4.19	3.57	3.07	2.74	3.58	5.19	5.96
Days Sales Outstanding	- -	44.56	87.14	102.17	118.95	133.27	101.83	70.29	61.27
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	6.71	4	3.76	3.49	2.96	3.02	3.5	4.14
Accounts Payable Turnover Days	- -	54.39	91.3	97.17	104.69	123.4	120.95	104.28	88.17
Cash Conversion Cycle	- -	-9.83	-4.16	5	14.27	9.87	-19.11	-33.98	-26.89
Inventory to Cash Days	- -	44.56	87.14	102.17	118.95	133.27	101.83	70.29	61.27
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (CNY)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	63,290	22,962	6,385	6,366	18,679	21,601
- Cash & Cash Equivalents	- -	1,507	2,023	3,425	4,218	3,419	2,255	2,649	6,018
+ Preferred Equity and Hybrid Capital	- -	123	123	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	888	782	356	337	-4
+ Total Debt	- -	255	174	612	1,615	1,350	1,722	5,195	10,285
Enterprise Value	- -	-3,337	-1,951	57,785	18,757	3,845	6,189	21,472	25,864
Total Capital	- -	-3,408	-4,599	-5,229	-4,923	-7,974	-10,211	-8,734	-4,936
Total Debt/Capital (%)	- -	-7.49	-3.79	-11.71	-32.81	-16.93	-16.87	-59.49	-208.35
Total Debt / EV	- -	-0.08	-0.09	0.01	0.09	0.35	0.28	0.24	0.4
EV/Sales	- -	- -	- -	8.79	2.07	0.47	0.88	2.76	2.71
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	49.09	13.24
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	11.72	- -	25.03	6.02
EV/Free Cash Flow to Firm	- -	- -	- -	44.08	237.19	2.18	3.19	4.73	2.86
Diluted Market Cap	- -	- -	- -	63,290	22,962	6,385	6,366	18,679	21,601
Diluted Enterprise Value	- -	-1,129	-1,726	60,478	21,248	5,099	6,189	21,562	25,864
EV per Share	- -	- -	- -	259.54	81.75	15.92	26.09	88.05	86.6
TTM Sales	1,236	2,218	3,956	6,577	9,061	8,180	7,047	7,785	9,559
TTM EBITDA	-429	-567	-539	-462	-869	-1,071	-414	437	1,953
TTM Operating Income	-727	-979	-1,144	-1,220	-1,724	-2,228	-1,355	-826	-527
TTM Cash Flow to Firm	-98	-344	-434	-281	-656	328	-22	858	4,297
TTM Free Cash Flow to Firm	253	752	565	1,311	79	1,765	1,943	4,541	9,039

Multiples (CNY)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	48.64	865.79	3.93	3.55	4.33	2.53
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	-3,337	-1,951	57,785	18,757	3,845	6,189	21,472	25,864
Low Price	- -	- -	- -	121.31	87.37	12.62	25.51	14.32	66.89
EV/Sales	- -	- -	- -	8.79	2.07	0.47	0.88	2.76	2.71
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	49.09	13.24
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	-51.62	-33.45	-2.75	-4.07	-3.15	-31.33
Price/Earnings High	- -	- -	- -	-75.5	-69.62	-9.06	-7.6	-11.62	-51.53
Price/Earnings Low	- -	- -	- -	-28.07	-12.62	-1.15	-2.78	-1.78	-21.34
Price/Book Value	- -	- -	- -	-10.83	-3.09	-0.63	-0.52	-1.31	-1.42
Price/Book Value Average	- -	- -	- -	-8.5	-7.16	-0.72	-0.72	-0.43	-1.93
Price/Book Value High	- -	- -	- -	-12.44	-14.89	-2.38	-1.35	-1.6	-3.17
Price/Book Value Low	- -	- -	- -	-4.62	-2.7	-0.3	-0.49	-0.24	-1.31
Price/Tangible Book Value	- -	- -	- -	7.7	4.03	1.61	3.53	91.24	5.17
Price/Tangible Book Value Average	- -	- -	- -	6.04	9.33	1.84	4.9	30.22	7.03
Price/Tangible Book Value High	- -	- -	- -	8.83	19.41	6.07	9.16	111.67	11.56
Price/Tangible Book Value Low	- -	- -	- -	3.28	3.52	0.77	3.35	17.06	4.79
Price/Sales	- -	- -	- -	9.62	2.53	0.78	0.9	2.4	2.26
Price/Sales Average	- -	- -	- -	7.55	5.86	0.89	1.26	0.79	3.07
Price/Sales High	- -	- -	- -	11.05	12.21	2.94	2.35	2.94	5.05
Price/Sales Low	- -	- -	- -	4.11	2.21	0.37	0.86	0.45	2.09
Price/Cash Flow	- -	- -	- -	-217.92	-32.39	33.79	-37.66	29.72	5.68
Price/Cash Flow Average	- -	- -	- -	-171.04	-74.96	38.73	-52.37	9.85	7.72
Price/Cash Flow High	- -	- -	- -	-250.15	-156.04	127.45	-97.78	36.38	12.69
Price/Cash Flow Low	- -	- -	- -	-92.99	-28.28	16.13	-35.79	5.56	5.26
Price/Free Cash Flow Average	- -	- -	- -	38.18	2,003.55	4.5	4.93	1.44	3.43
Price/Free Cash Flow High	- -	- -	- -	55.83	4,170.63	14.81	9.21	5.3	5.65
Price/Free Cash Flow Low	- -	- -	- -	20.76	755.88	1.87	3.37	0.81	2.34
EV/Sales Average	- -	- -	- -	7.13	5.68	0.74	1.23	1.17	3.51
EV/Sales High	- -	- -	- -	10.62	12.02	2.79	2.32	3.31	5.49
EV/Sales Low	- -	- -	- -	3.68	2.02	0.22	0.83	0.82	2.54
EV/EBITDA Average	- -	1.99	3.2	-101.38	-59.19	-5.63	-20.96	20.74	17.2
EV/EBITDA High	- -	1.99	3.2	-151.08	-125.34	-21.29	-39.5	58.85	26.89
EV/EBITDA Low	- -	1.99	3.2	-52.34	-21.1	-1.65	-14.19	14.58	12.41
EV/EBIT Average	- -	1.15	1.51	-38.4	-29.82	-2.71	-6.41	-10.99	-63.7
EV/EBIT High	- -	1.15	1.51	-57.23	-63.15	-10.23	-12.07	-31.18	-99.57
EV/EBIT Low	- -	1.15	1.51	-19.83	-10.63	-0.79	-4.34	-7.72	-45.96
Last Price	- -	- -	- -	284.27	100.08	26.43	26.84	76.59	72.33
High Price	- -	- -	- -	326.32	482.08	99.7	69.69	93.74	161.55
Enterprise Value Average	- -	-1,129	-1,726	46,864	51,424	6,033	8,677	9,071	33,591
Enterprise Value High	- -	-1,129	-1,726	69,839	108,900	22,799	16,355	25,744	52,511
Enterprise Value Low	- -	-1,129	-1,726	24,196	18,333	1,762	5,873	6,376	24,239

Shares Outstanding	- -	3,004	3,004	3,340	3,646	3,508	3,562	3,688	4,480
Diluted Weighted Avg Shares	174	244	244	223	229	242	237	244	299
Basic Weighted Avg Shares	174	244	244	223	229	242	237	244	299
Revenue per Share	7.11	9.1	16.24	29.54	39.49	33.86	29.71	31.92	32.01
EBITDA per Share	-2.47	-2.33	-2.21	-2.08	-3.79	-4.43	-1.75	1.79	6.54
Operating Income per Share	-4.18	-4.02	-4.69	-5.48	-7.52	-9.22	-5.71	-3.39	-1.77
Basic EPS, GAAP	-4.11	-4.13	-4.56	-4.32	-6.92	-11	-9.17	-8.06	-3.13
Basic EPS from Cont Ops	-4.11	-4.13	-4.56	-4.32	-6.94	-11.13	-9.21	-8.12	-3.16
Diluted EPS, GAAP	-4.11	-4.13	-4.56	-4.32	-6.92	-11	-9.17	-8.06	-3.13
Diluted EPS from Cont Ops	-4.11	-4.13	-4.56	-4.32	-6.94	-11.13	-9.21	-8.12	-3.16
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-0.77	-1.57	-1.8	-1.3	-3.09	0.78	-0.71	2.58	12.73
Free Cash Flow per Basic Share	-2.79	-6.07	-5.91	-8.45	-6.29	-5.17	-8.99	-12.53	-3.15
Cash & Equivalents per Share	- -	15.25	9.23	27.48	29.24	19.34	9.51	11.23	20.15
Book Value per Share	- -	-15.54	-20.1	-26.24	-32.37	-41.83	-51.81	-58.5	-50.95
Tangible Book Value per Share	- -	-13.86	-17.76	36.94	24.83	16.43	7.61	0.84	13.98

Kingsoft Cloud Holdings Limited

Profitability (CNY)

Credit (CNY)

Liquidity (CNY)

Working Capital (CNY)

Enterprise Value (CNY)

Multiples (CNY)

Per Share Data Items (CNY)