Kingsoft Cloud Holdings (KC) Operating Margin (2019 - 2026)
Kingsoft Cloud Holdings (KC) recorded Operating Margin of 0.75% in Q2 2026, up 14.67 percentage points from -13.92% a year earlier and up 6.89 percentage points from the prior quarter.
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Analysis
Kingsoft Cloud Holdings (KC) Operating Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Kingsoft Cloud Holdings' Operating Margin came in at -3.19% as of Jun 30, 2026, up 17.84 percentage points year-over-year; for FY2025, it was -8.09%, up 14.25 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +10.27 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at -22.34% in FY2024 (+299170.50 pp), -299192.84% in FY2023 (-299165.32 pp), -27.52% in FY2022 (-7.52 pp) and -20.00% in FY2021 (-1.65 pp).
- The Q2 2026 figure is the highest quarterly Operating Margin in data going back to Q1 2019.
- On a year-over-year basis, Operating Margin rose in six of the last eight quarters, with an average year-over-year change of +10.73 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 54.80 percentage points in Q3 2025, against a drop of 23.91 percentage points in Q3 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at -6.14% (Q1 2026), -2.41% (Q4 2025) and -5.86% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,780.05 Bn | 3,703.20 Bn | 60.48 Bn | 45.11% |
| 2 | International Business Machines | 207.28 Bn | 158.18 Bn | 9.91 Bn | 15.24% |
| 3 | Cloudflare | 113.42 Bn | 96.95 Bn | 499.52 Mn | -29.55% |
| 4 | Equinix | 100.18 Bn | 88.73 Bn | 1.40 Bn | 25.33% |
| 5 | Nebius | 60.05 Bn | 33.49 Bn | 448.70 Mn | -30.21% |
| 6 | CoreWeave | 47.35 Bn | 34.44 Bn | 1.70 Bn | -1.90% |
| 7 | Verisign | 25.30 Bn | 22.51 Bn | 384.60 Mn | 68.18% |
| 8 | Nutanix | 18.96 Bn | 10.65 Bn | 651.35 Mn | 9.24% |
| 9 | Akamai Technologies | 15.57 Bn | 8.98 Bn | 613.75 Mn | 7.30% |
| 10 | Kingsoft Cloud Holdings | 2.71 Bn | -87.99 Mn | 68.71 Mn | 0.75% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.75% |
| Mar 31, 2026 | -6.14% |
| 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% |
API Access
Kingsoft Cloud Holdings Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=KC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "KC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=KC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();