Thank you for the thought! I assume cloud mining contracts fall in similar category?
Mining is still definitely profitable if you know what you're doing. Cloud mining though? Nope. Stay away from it.
Here's a website that can help you calculate your potential profits with certain coins:
https://www.coinwarz.com/cryptocurrency/coinsJust choose a coin, then enter the necessary data(Hashrate, power costs, etc), then it can help you determine your potential profit.