KC vs NTES
Kingsoft Cloud Holdings Ltd. and Netease, Inc., side by side — 8 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | KC | NTES |
|---|---|---|
| Revenue | ¥9.6B | ¥112.6B |
| Net income | ¥-936.3M | ¥34.8B |
| Gross margin | 15.7% | 64.3% |
| Net margin | −9.8% | 30.9% |
| Return on equity | −12.9% | 23.3% |
| Diluted EPS | −¥0.23 | ¥10.48 |
| Dividend / share | — | — |
| Payout ratio | — | 39.7% |
| Free cash flow | — | ¥49.7B |
| Equity | ¥9.3B | ¥160.3B |
| Net debt / equity | 0.04× | −0.37× |
| Current ratio | 1.17× | 3.45× |
| Revenue CAGR 5y | 7.8% | 8.9% |
| Profit CAGR 5y | — | 23.1% |
NTES bills 11.8× the revenue of KC, and KC closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
8 years side by side
| Fiscal year | KC | NTES |
|---|---|---|
| FY2025 | ¥9.6B | ¥112.6B |
| FY2024 | ¥7.8B | ¥105.3B |
| FY2023 | ¥7.0B | ¥103.5B |
| FY2022 | ¥8.2B | ¥96.5B |
| FY2021 | ¥9.1B | ¥87.6B |
| FY2020 | ¥6.6B | ¥73.7B |
| FY2019 | ¥4.0B | ¥59.2B |
| FY2018 | ¥2.2B | ¥51.2B |
Net income by year
Bottom line
| Fiscal year | KC | NTES |
|---|---|---|
| FY2025 | ¥-936.3M | ¥34.8B |
| FY2024 | ¥-2.0B | ¥30.3B |
| FY2023 | ¥-2.2B | ¥29.4B |
| FY2022 | ¥-2.7B | ¥19.8B |
| FY2021 | ¥-1.6B | ¥17.0B |
| FY2020 | ¥-962.3M | ¥12.3B |
| FY2019 | ¥-1.1B | ¥21.4B |
| FY2018 | ¥-1.0B | ¥6.5B |
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