KC vs YMM
Kingsoft Cloud Holdings Ltd. and Full Truck Alliance Co. Ltd., side by side — 7 fiscal years reported in CNY, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | KC | YMM |
|---|---|---|
| Revenue | CNY 9.6B | CNY 12.5B |
| Net income | CNY -936.3M | CNY 4.5B |
| Gross margin | 15.7% | 40.9% |
| Net margin | −9.9% | 57.0% |
| Return on equity | −12.9% | — |
| Diluted EPS | −CNY 0.23 | CNY 0.21 |
| Dividend / share | — | — |
| Payout ratio | — | 32.0% |
| Free cash flow | — | CNY 4.5B |
| Equity | CNY 9.3B | — |
| Net debt / equity | 0.04× | — |
| Current ratio | 1.17× | 8.09× |
| Revenue CAGR 5y | 7.8% | 37.1% |
| Profit CAGR 5y | — | — |
YMM bills 1.3× 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.
Revenue by year
7 years side by side
| Fiscal year | KC | YMM |
|---|---|---|
| FY2025 | CNY 9.6B | CNY 12.5B |
| FY2024 | CNY 7.8B | CNY 11.2B |
| FY2023 | CNY 7.0B | CNY 8.4B |
| FY2022 | CNY 8.2B | CNY 6.7B |
| FY2021 | CNY 9.1B | CNY 4.7B |
| FY2020 | CNY 6.6B | CNY 2.6B |
| FY2019 | CNY 4.0B | CNY 2.5B |
Net income by year
Bottom line
| Fiscal year | KC | YMM |
|---|---|---|
| FY2025 | CNY -936.3M | CNY 4.5B |
| FY2024 | CNY -2.0B | CNY 3.1B |
| FY2023 | CNY -2.2B | CNY 2.2B |
| FY2022 | CNY -2.7B | CNY 411.9M |
| FY2021 | CNY -1.6B | CNY -3.7B |
| FY2020 | CNY -962.3M | CNY -3.5B |
| FY2019 | CNY -1.1B | CNY -1.5B |
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