KE Holdings Inc.
BEKE NYSE· Real Estate Agents & Managers (For Others)
Last close · Nov 13, 2026
$17.86
Latest fiscal year · FY25 results fiscal year ended Dec 31, 2025 · vs FY24
| Line | FY24 | FY25 | Change (y/y) |
|---|---|---|---|
| Revenue | $13.0B | $13.2B | 1.3% |
| Net income | $565M | $417M | 26.3% |
| Diluted EPS | $0.48 | $0.36 | 25.2% |
| Operating margin | 4.0% | 2.2% | 1.8 pts |
| Free cash flow | $1.2B | −$137M | 111.7% |
Key numbers, fiscal 2025
Market cap
$20.7B
P/E
49.8x
Revenue
$13.2B
Net income
$417M
Free cash flow
−$137M
Operating margin
2.2%
KE Holdings Inc. in 30 seconds fiscal 2025
Are sales growing?
+1.3%
Only a little. Sales grew 1.3% last year.
Does it make a profit?
3.2%
A little. It keeps 3.2% of every sale as profit.
How long would its cash last?
49.4 yrs
Comfortably. It burns $137M a year and holds $6.8B, about 49.4 years at that pace.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
49.8x
One share costs 49.8 times its yearly profit per share.
What KE Holdings Inc. does
KE Holdings operates Beike, an online and offline platform for buying, selling and renting homes in China, as well as home renovation and furnishing. Its Lianjia brand provides real estate brokerage services, while Beike connects customers with other brokerage brands, stores, agents and residential service providers. Customers include home buyers, sellers, landlords and tenants, and people seeking renovation services; real estate developers also use the platform to market new homes. KE earns money from five main areas: existing home transactions, new home transactions, home renovation and furnishing, home rentals, and emerging and other services. It earns commissions on home sales and rentals, fees from brokerage firms using its platform, franchise fees from brands such as Deyou, and commissions from developers. It also charges for renovation, rental management and other housing-related services.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 24, 2026
- Legal name
- KE Holdings Inc.
- CIK
- 0001809587
KE Holdings Inc. · BEKE · stoqly.net
Results and finances
The last 5 fiscal years. Amounts in USD. Compiled by stoqly.net.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $12.5B | $9.0B | $11.0B | $13.0B | $13.2B |
| Revenue growth | 22.6% | −28.0% | 21.9% | 18.3% | 1.3% |
| Net interest income | $55.0M | $110M | $178M | — | — |
| Gross margin | 19.6% | 22.7% | 27.9% | 24.6% | 21.4% |
| Operating margin | −1.7% | −1.4% | 6.2% | 4.0% | 2.2% |
| Net income | −$81.3M | −$206M | $831M | $565M | $417M |
| Net margin | −0.6% | −2.3% | 7.6% | 4.3% | 3.2% |
| Diluted EPS | −$0.07 | −$0.17 | $0.69 | $0.48 | $0.36 |
| Cash | |||||
| Cash from operations | $557M | $1.3B | $1.6B | $1.3B | −$52.3M |
| Capital expenditure | $222M | $118M | $123M | $144M | $84.6M |
| Free cash flow | $336M | $1.1B | $1.5B | $1.2B | −$137M |
| FCF margin | 2.7% | 12.7% | 13.6% | 9.0% | −1.0% |
| Dividends paid | — | — | $201M | $393M | $401M |
| Share buybacks | — | $196M | $727M | $709M | $916M |
| Share count change | 56.5% | 0.6% | 1.2% | −2.1% | −1.8% |
| Debt and strength | |||||
| Cash and short-term investments | $7.8B | $8.0B | $7.6B | $7.2B | $6.8B |
| Debt incl. finance leases | — | — | $40.9M | $39.5M | $26.1M |
| Shareholders' equity | $10.5B | $10.0B | $10.1B | $9.8B | $9.5B |
| Net debt / EBITDA | — | — | −9.6x | −11.5x | −15.9x |
| Current ratio | 2.4x | 2.1x | 1.8x | 1.5x | 1.6x |
| Interest coverage | −221.9x | −59.3x | 278.2x | 297.5x | 312.7x |
| Returns and quality | |||||
| Return on capital | — | — | 19.4% | 13.2% | 6.9% |
| Return on equity | −0.8% | −2.0% | 8.2% | 5.7% | 4.3% |
| Return on tangible equity | −0.8% | −2.3% | 8.9% | 6.3% | 4.8% |
| Piotroski F-score | 3 | 3 | 6 | 6 | 5 |
| Altman Z'' | 4.4 | 3.6 | 3.3 | 2.5 | 3.0 |
Insider trades 12 months
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$103M
2 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
KE Holdings Inc. · BEKE · stoqly.net
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Compiled and analysed by stoqly.net from SEC EDGAR XBRL filings (CIK 0001809587). Latest version: stoqly.net/companies/beke. Data updated November 9, 2026. Filed in CNY under US GAAP and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.