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Kingsoft Cloud Holdings (BSP:K2CG34) Piotroski F-Score

: 4 (As of Today)
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The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Kingsoft Cloud Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Kingsoft Cloud Holdings's Piotroski F-Score or its related term are showing as below:

BSP:K2CG34' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 6
Current: 4

During the past 6 years, the highest Piotroski F-Score of Kingsoft Cloud Holdings was 6. The lowest was 2. And the median was 4.


Kingsoft Cloud Holdings Piotroski F-Score Historical Data

The historical data trend for Kingsoft Cloud Holdings's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Kingsoft Cloud Holdings Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Piotroski F-Score
Get a 7-Day Free Trial N/A N/A 6.00 3.00 4.00

Kingsoft Cloud Holdings Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.00 4.00 5.00 5.00 4.00

Competitive Comparison

For the Software - Application subindustry, Kingsoft Cloud Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kingsoft Cloud Holdings Piotroski F-Score Distribution

For the Software industry and Technology sector, Kingsoft Cloud Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Kingsoft Cloud Holdings's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep23) TTM:Last Year (Sep22) TTM:
Net Income was -382.872 + -458.802 + -338.435 + -531.814 = R$-1,712 Mil.
Cash Flow from Operations was -192.281 + -205.132 + 228.145 + 13.786 = R$-155 Mil.
Revenue was 1603.341 + 1409.237 + 1243.96 + 1099.825 = R$5,356 Mil.
Gross Profit was 121.854 + 146.778 + 140.029 + 132.801 = R$541 Mil.
Average Total Assets from the begining of this year (Sep22)
to the end of this year (Sep23) was
(13853.39 + 13028.466 + 12515.076 + 10934.871 + 9548.898) / 5 = R$11976.1402 Mil.
Total Assets at the begining of this year (Sep22) was R$13,853 Mil.
Long-Term Debt & Capital Lease Obligation was R$66 Mil.
Total Current Assets was R$4,445 Mil.
Total Current Liabilities was R$3,797 Mil.
Net Income was -424.32 + -433.942 + -605.402 + -592.42 = R$-2,056 Mil.

Revenue was 2361.407 + 1705.032 + 1437.363 + 1470.693 = R$6,974 Mil.
Gross Profit was 24.763 + 62.715 + 49.159 + 91.448 = R$228 Mil.
Average Total Assets from the begining of last year (Sep21)
to the end of last year (Sep22) was
(16439.354 + 18713.863 + 15636.729 + 14324.887 + 13853.39) / 5 = R$15793.6446 Mil.
Total Assets at the begining of last year (Sep21) was R$16,439 Mil.
Long-Term Debt & Capital Lease Obligation was R$104 Mil.
Total Current Assets was R$7,499 Mil.
Total Current Liabilities was R$5,379 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Kingsoft Cloud Holdings's current Net Income (TTM) was -1,712. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Kingsoft Cloud Holdings's current Cash Flow from Operations (TTM) was -155. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep22)
=-1711.923/13853.39
=-0.1235743

ROA (Last Year)=Net Income/Total Assets (Sep21)
=-2056.084/16439.354
=-0.12507085

Kingsoft Cloud Holdings's return on assets of this year was -0.1235743. Kingsoft Cloud Holdings's return on assets of last year was -0.12507085. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Kingsoft Cloud Holdings's current Net Income (TTM) was -1,712. Kingsoft Cloud Holdings's current Cash Flow from Operations (TTM) was -155. ==> -155 > -1,712 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=65.603/11976.1402
=0.00547781

Gearing (Last Year: Sep22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep21 to Sep22
=104.277/15793.6446
=0.00660247

Kingsoft Cloud Holdings's gearing of this year was 0.00547781. Kingsoft Cloud Holdings's gearing of last year was 0.00660247. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep23)=Total Current Assets/Total Current Liabilities
=4445.156/3796.582
=1.17083103

Current Ratio (Last Year: Sep22)=Total Current Assets/Total Current Liabilities
=7499.15/5379.485
=1.3940275

Kingsoft Cloud Holdings's current ratio of this year was 1.17083103. Kingsoft Cloud Holdings's current ratio of last year was 1.3940275. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Kingsoft Cloud Holdings's number of shares in issue this year was 3564.636. Kingsoft Cloud Holdings's number of shares in issue last year was 3660.755. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=541.462/5356.363
=0.10108762

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=228.085/6974.495
=0.03270273

Kingsoft Cloud Holdings's gross margin of this year was 0.10108762. Kingsoft Cloud Holdings's gross margin of last year was 0.03270273. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep22)
=5356.363/13853.39
=0.38664637

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep21)
=6974.495/16439.354
=0.42425603

Kingsoft Cloud Holdings's asset turnover of this year was 0.38664637. Kingsoft Cloud Holdings's asset turnover of last year was 0.42425603. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+1+1+1+0+1+1+0
=5

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Kingsoft Cloud Holdings has an F-score of 5 indicating the company's financial situation is typical for a stable company.

Kingsoft Cloud Holdings  (BSP:K2CG34) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Kingsoft Cloud Holdings Piotroski F-Score Related Terms

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Kingsoft Cloud Holdings (BSP:K2CG34) Business Description

Traded in Other Exchanges
Address
No. 33 Xierqi Middle Road, Building D, Xiaomi Science and Technology Park, Haidian District, Beijing, CHN, 100085
Kingsoft Cloud Holdings Ltd is an independent cloud service provider in China. The company has built a cloud platform consisting of cloud infrastructure, cloud products and industry-specific solutions across public cloud, enterprise cloud, and IoT cloud services. Its products and services are categorized in compute, networking, storage and delivery, database, data analysis, security, video services, and developer services. Geographically, the firm operates in China.

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