Kingsoft Cloud Holdings (KC) Operating Margin (2019 - 2025)
Kingsoft Cloud Holdings (KC) posted Operating Margin of 2.41% for Q4 2025, up 58.95% on a QoQ basis from 5.86% in Q3 2025, and down 46.0% year-over-year from 4.46% in Q4 2024.
Kingsoft Cloud Holdings (KC) Operating Margin (2019 - 2025) Analysis & Trends
Kingsoft Cloud Holdings' Operating Margin history runs 7 years deep, the most recent figure standing at 2.41% for Q4 2025.
- Quarterly Operating Margin fell 46.0% year-over-year to 2.41% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 8.03% (up 1465.0% YoY) and the FY2025 annual result came in at 8.09%, up 1425.0% from the prior year.
- Operating Margin was 2.41% for Q4 2025 at Kingsoft Cloud Holdings, up from 5.86% in the prior quarter.
- Across five years, Operating Margin topped out at 1.95% in Q4 2024 and bottomed at 60.66% in Q3 2024.
- A 5-year average of 21.85% and a median of 19.61% in 2021 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2023 — Operating Margin slumped 2391 bps — and 2025, when it surged 5480 bps.
- Kingsoft Cloud Holdings' Operating Margin stood at 25.22% in 2021, then dropped by 23 bps to 31.08% in 2022, then surged by 36 bps to 19.9% in 2023, then soared by 90 bps to 1.95% in 2024, then declined by 23 bps to 2.41% in 2025.
- Business Quant data shows KC's Operating Margin at 2.41% in Q4 2025, 5.86% in Q3 2025, and 13.92% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | 28.69% |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | - |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | 12.05% |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 14.56% |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 21.08% |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 4.06% |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | -22.99% |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | -23.45% |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 29.26% |
| 10 | Kingsoft Cloud Holdings | 39.80 Bn | 38.95 Bn | 66.54 Mn | -2.41% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -2.41% |
| Sep 30, 2025 | -5.86% |
| Jun 30, 2025 | -13.92% |
| Mar 31, 2025 | -11.89% |
| Dec 31, 2024 | -1.95% |
| Sep 30, 2024 | -60.66% |
| Jun 30, 2024 | -14.67% |
| Mar 31, 2024 | -15.44% |
| Dec 31, 2023 | -19.90% |
| Sep 30, 2023 | -49.52% |
| Jun 30, 2023 | -19.78% |
| Mar 31, 2023 | -32.07% |
| Dec 31, 2022 | -31.08% |
| Sep 30, 2022 | -25.61% |
| Jun 30, 2022 | -28.95% |
| Mar 31, 2022 | -24.51% |
| Dec 31, 2021 | -25.22% |
| Sep 30, 2021 | -19.43% |
| Jun 30, 2021 | -14.74% |
| Mar 31, 2021 | -19.42% |