KE Holdings Inc.
- Open
- 17.57
- Day high
- 17.92
- Day low
- 17.52
- Prev close
- 17.19
- Volume
- 642K
- Mkt cap
- $20.5B
- P/E (TTM)
- 27.6
- EPS (TTM)
- $0.65
- P/B
- 2.1
- P/S
- 1.6
- Yield
- 1.26%
- Per share
- $0.23
KE Holdings Inc. (BEKE) is a Real Estate company listed on NYSE. The stock is down 6% over the past year. Drillr has 1 published research article covering BEKE.
KE Holdings Inc. (BEKE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BEKE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 21, 2026 | $0.31 | $0.42 | +35.5% | $3.6B | +0.7% |
| May 19, 2026 | $0.14 | $0.20 | +42.9% | $2.7B | +1.4% |
| Mar 16, 2026 | $0.10 | $0.07 | -33.1% | $3.1B | +16.0% |
| Aug 26, 2025 | $0.22 | $0.22 | +0.0% | $3.6B | -0.7% |
| May 15, 2025 | $0.16 | $0.16 | +0.0% | $3.2B | +2.8% |
| Mar 18, 2025 | $0.26 | $0.16 | -38.5% | $4.3B | +12.7% |
| Nov 21, 2024 | $0.21 | $0.22 | +4.8% | $3.2B | -1.7% |
| May 23, 2024 | $0.12 | $0.16 | +33.3% | $2.3B | -0.9% |
| Mar 14, 2024 | $0.17 | $0.20 | +17.6% | $2.9B | +6.7% |
| Nov 8, 2023 | $0.11 | $0.24 | +118.2% | $2.4B | +11.7% |
| Aug 31, 2023 | $0.18 | $0.27 | +50.0% | $2.7B | +4.2% |
| May 18, 2023 | $0.22 | $0.43 | +95.5% | $2.9B | +11.5% |
BEKE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 30, 2026 | Wu Jundirector | Option | 3,874 | — |
| Mar 30, 2026 | Wu Jundirector | Tax | 767 | $15.37 |
| Mar 30, 2026 | Wu Jundirector | Grant | 4,353 | — |
Source: BEKE SEC Form 4 filings, latest Mar 30, 2026. For informational purposes only — not investment advice.
See the full BEKE insider & 13F page →KE Holdings Inc. company profile
Overview
KE Holdings Inc. (NYSE:BEKE) is a Chinese real estate services company that operates an integrated online and offline platform for housing transactions and related services. Founded in 2001 and headquartered in Beijing, the company went public on the New York Stock Exchange in August 2020. KE Holdings has evolved from a traditional real estate brokerage into a comprehensive residential services platform, leveraging technology to connect buyers, sellers, agents, and service providers across China's real estate ecosystem. The company operates through multiple brands including Beike, its flagship integrated platform, and Lianjia, its real estate brokerage network.
Business
KE Holdings operates in China's real estate services industry, functioning as a comprehensive residential services platform that facilitates property transactions and related services. The company's core offering is Beike, an integrated online and offline platform that connects various stakeholders in the real estate ecosystem including buyers, sellers, agents, developers, and service providers. The company operates through four main business segments: 1. Existing Home Transaction Services (~35% of revenue): This segment facilitates secondary market property transactions between individual buyers and sellers. The platform provides listing services, agent matching, transaction facilitation, and various support services including contract management, secure payment processing, and escrow services. Revenue is generated through commission fees from successful transactions. 2. New Home Transaction Services (~30% of revenue): This division focuses on facilitating sales of newly constructed properties from real estate developers to end customers. KE Holdings partners with property developers to market and sell their new residential projects, earning commissions based on successful sales transactions. 3. Home Renovation and Furnishing (~15% of revenue): This rapidly growing segment provides end-to-end home renovation and interior design services. The company has developed standardized processes and digital tools to manage renovation projects, from initial consultation through completion. This business has shown strong growth with 36% year-over-year revenue increase in 2024. 4. Home Rental Services and Other (~20% of revenue): This includes rental property management services where KE Holdings manages residential units on behalf of property owners, handling tenant placement, rent collection, and property maintenance. The company also operates emerging services like Beihaojia, which focuses on residential development services. The platform ecosystem is supported by the Agent Cooperation Network (ACN), an operating system that enables cooperation and resource sharing among different service providers, and various software-as-a-service systems that digitize and streamline real estate transactions.
Competitive moat
KE Holdings possesses a moderately strong competitive moat built primarily on network effects and scale advantages. The company's Agent Cooperation Network creates powerful network effects where the value of the platform increases as more agents, stores, and service providers join, making it more attractive for all participants. With 49,700 active stores and 445,000 active agents, KE Holdings has achieved significant scale that is difficult for competitors to replicate quickly. The company's data and technology infrastructure provides another defensive advantage. Years of transaction data, property information, and customer insights create barriers for new entrants and enable better service delivery through AI-powered tools like ChatHome and Dreamhome. The comprehensive digital platform integrating online discovery with offline services creates switching costs for agents and customers who become accustomed to the ecosystem. Brand recognition in the Beike and Lianjia brands, particularly in tier-one and tier-two Chinese cities, provides customer acquisition advantages and trust benefits in high-value transactions. The company's quality control standards and service guarantees differentiate it from fragmented local competitors. However, the moat faces several challenges. Regulatory risk is significant as the Chinese government can implement policies affecting real estate transactions, commission structures, or platform operations. Regional competition remains intense with local players often having deep relationships in specific markets. Technology disruption could potentially bypass traditional brokerage models, though KE Holdings' own digital transformation helps mitigate this risk. The company's dependence on China's real estate market also creates vulnerability to macroeconomic and policy-driven downturns, as evidenced by recent market volatility.
Risks & safety
KE Holdings demonstrates a moderate margin of safety with mixed financial health indicators: • Strong liquidity position: Cash and short-term investments of RMB 1.56 billion with current ratio of 1.45, providing adequate short-term financial flexibility • Manageable debt levels: Debt-to-equity ratio of 0.32 indicates conservative leverage, though higher than historical levels • Positive cash generation: Operating cash flow of RMB 1.29 billion and free cash flow of RMB 1.15 billion for 2024 demonstrate healthy cash generation capabilities • Reasonable valuation metrics: Trading at 12.5x P/E ratio and 0.71x price-to-book ratio, suggesting potential undervaluation relative to historical levels • Cyclical earnings volatility: Net income fluctuated significantly from losses in 2022 to RMB 554 million profit in 2024, reflecting market sensitivity • Market concentration risk: Heavy dependence on China's real estate market creates vulnerability to regulatory changes and economic downturns • Working capital management: Current assets exceed current liabilities, but the gap has narrowed, requiring careful monitoring
Recent development
Over the past few years, KE Holdings has undergone significant strategic evolution, transitioning from a traditional real estate brokerage to a comprehensive residential services platform. The company implemented its "One Body, Three Wings" strategy, positioning home transaction services as the core body while expanding into home renovation, rental services, and emerging businesses as the three wings. Technology integration has been a major focus, with substantial investments in artificial intelligence capabilities. The company launched AI-powered tools including ChatHome and Dreamhome, which assist customers in property search and provide personalized recommendations. These AI initiatives extend across the platform to enhance agent productivity and operational efficiency. The home renovation business has shown remarkable growth, expanding from contracted sales of RMB 6.9 billion in 2022 to RMB 14.8 billion in 2024, representing 36% year-over-year growth. The company developed standardized processes, centralized purchasing systems, and digital project management tools to improve quality control and operational efficiency. Rental services expansion has been another key development, with managed units growing from around 210,000 in 2023 to over 430,000 by 2024. This business provides more stable, recurring revenue streams compared to transaction-based services. The company has focused on improving unit economics and operational efficiency in this segment. The platform network has continued expanding with 18.3% growth in active stores to 49,700 and 12.1% increase in active agents to 445,000 in 2024. The company has emphasized quality over quantity in network expansion, focusing on connecting with high-performing stores and agents while maintaining service standards.
BEKE company profile · for informational purposes only — not investment advice.
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