KE Holdings Inc. (BEKE)
KE Holdings Inc., through its various subsidiaries, operates a comprehensive online and offline ecosystem facilitating real estate transactions and services across the People's Republic of China. Its business activities are categorized into five distinct segments: existing home sales, new home sales, home improvement and furnishing solutions, rental property services, and emerging and other offerings. At its core, the company manages the Beike platform, which integrates its digital and physical real estate services. Alongside this, it oversees Lianjia, a prominent real estate brokerage chain, and the innovative Agent Cooperation Network (ACN), which serves as an operating system fostering collaboration and mutual benefit among diverse service providers. Further expanding its reach, KE Holdings also encompasses the Deyou brand, dedicated to connected brokerage stores, among other proprietary labels. Beyond core transactions, the firm extends its offerings to include property management and operational services for rental properties, as well as critical support functions like secure payment processing, escrow services, and contractual assistance. Established in 2001, KE Holdings Inc. maintains its headquarters in Beijing, China.
Sector: Real Estate Agents & Managers (For Others)
Industry: Real Estate - Services
KE Holdings Inc.
NYSE:BEKEReal Estate · Real Estate - Services
-0.93%$17.08
AH Close$17.08+0.00%vs close
AH Close$17.08+0.00%vs close
Mkt Cap$18.76B
Float1.09B
O/S1.1B
Inst Own11.6%
SI1.9%
Div Yield1.62%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$14.18B
Net Income$448.86M
Total Assets$17.49B
Free Cash Flow-$143.49M
Debt & Equity
Debt 22%
Equity 78%
Total Debt$2.81B
Total Equity$9.96B
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in BEKE's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$17.49B
Liabilities$7.52B
Accounts Receivable$1.02B
Accounts Payable$907.33M
Inventory$427.88M
PP&E (Net)$3.12B
Goodwill$698.68M
Intangible Assets$165.64M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $14.18B | $14.01B | $11.66B | $9.1B | $12.11B | $10.57B | $6.9B | $4.29B | $3.82B |
| YoY Growth | 1.2% | 20.2% | 28.2% | -24.9% | 14.6% | 53.2% | 60.6% | 12.3% | - |
| Cost of Revenue | $11.15B | $10.57B | $8.4B | $7.03B | $9.73B | $8.04B | $5.21B | $3.26B | $3.11B |
| Gross Profit | $3.03B | $3.44B | $3.26B | $2.07B | $2.37B | $2.53B | $1.69B | $1.03B | $714.83M |
| Gross Margin | 21.4% | 24.6% | 27.9% | 22.7% | 19.6% | 23.9% | 24.5% | 24.0% | 18.7% |
| Research and Development | $386.88M | $342.33M | $290.36M | $381.63M | $478.84M | $371.49M | $235.55M | $100.58M | $37.75M |
| Selling, General, and Administrative | $2.31B | $2.51B | $2.23B | $1.79B | $1.98B | $1.69B | $1.72B | $1.11B | $791.6M |
| Other | -$90.09M | -$109.62M | -$114.25M | -$100.2M | -$158.9M | $35.39M | $0 | $0 | $0 |
| Total Operating Expenses | $2.61B | $2.74B | $2.41B | $2.07B | $2.3B | $2.1B | $1.96B | $1.21B | $829.35M |
| Operating Income (EBIT) | $423.99M | $696.79M | $847.43M | -$2.47M | $67.73M | $426.04M | -$267.69M | -$182.6M | -$114.52M |
| Operating Margin | 3.0% | 5.0% | 7.3% | -0.0% | 0.6% | 4.0% | -3.9% | -4.3% | -3.0% |
| Interest Expense | $1.11M | $4.28M | $4.22M | $2.17M | $4.56M | $0 | $31.03M | $6.53M | $6.57M |
| Interest Income | $125.11M | $193.2M | $193.62M | $115.3M | $129.2M | $24.53M | $79.94M | $25.89M | $18.95M |
| Other Income (Expense) | $277.2M | $333.17M | $334.54M | $46.29M | $103.29M | $231.67M | $76.43M | $107.78M | $93.78M |
| Income Before Tax (EBT) | $701.19M | $1.03B | $1.18B | $43.82M | $171.02M | $657.72M | -$191.26M | -$74.82M | -$20.74M |
| Income Tax Expense | $252.78M | $418.56M | $299M | $253.3M | $249.69M | $241.19M | $135.58M | -$10.7M | $59.86M |
| Net Income | $448.86M | $609.41M | $882.01M | -$207.8M | -$78.58M | $416.42M | -$327.36M | -$70.14M | -$86.12M |
| Net Income Margin | 3.2% | 4.3% | 7.6% | -2.3% | -0.6% | 3.9% | -4.7% | -1.6% | -2.3% |
| Supplementary Data | |||||||||
| EPS | 2.67 | 3.57 | 5.01 | -1.17 | -0.45 | 0.96 | -1.90 | -0.42 | -0.48 |
| Diluted EPS | 2.52 | 3.45 | 4.89 | -1.17 | -0.45 | 0.96 | -1.90 | -0.39 | -0.48 |
| Weighted Average OS | 1.11B | 1.14B | 1.20B | 1.19B | 1.18B | 1.16B | 1.14B | 1.14B | 1.14B |
| EBITDA | $863.07M | $1.18B | $1.4B | $271.28M | $378.3M | $861.98M | -$8.3M | $50.49M | $107.45M |
| EBITDA Margin | 6.1% | 8.4% | 12.0% | 3.0% | 3.1% | 8.2% | -0.1% | 1.2% | 2.8% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $1.17B | $1.72B | $2.94B | $2.91B | $3.07B | $6.14B | $3.65B | $1.37B | $784.99M |
| Short-Term Investments | $5.93B | $6.19B | $5.14B | $5.32B | $4.41B | $2.35B | $276.54M | $378.28M | $1.14B |
| Cash and Short-Term Investments | $7.1B | $7.91B | $8.08B | $8.23B | $7.47B | $8.49B | $3.92B | $1.74B | $1.92B |
| Accounts Receivable | $1.02B | $1.58B | $490.47M | $629.23M | $1.4B | $1.98B | $1.22B | $502.95M | $400.1M |
| Inventory | $427.88M | $241.35M | $45.61M | $19.12M | $2.85M | $1.94B | $1.74B | $693.79M | $920.17M |
| Other Current Assets | $1.37B | $1.33B | $1.6B | $1.29B | $1.32B | $152.88M | $834.03M | $1.1B | $314.52M |
| Total Current Assets | $10.21B | $11.48B | $10.46B | $10.56B | $10.48B | $13.12B | $7.78B | $4.1B | $3.61B |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $3.12B | $3.86B | $2.92B | $2B | $1.38B | $1.24B | $1.01B | $912.9M | $899.95M |
| Goodwill | $698.68M | $716.23M | $728.13M | $739.74M | $270.71M | $369.93M | $371.36M | $170.16M | $106.59M |
| Intangible Assets | $165.64M | $187.36M | $195.69M | $252.91M | $171.1M | $246.27M | $388.04M | $29.53M | $39.69M |
| Long-Term Investments | $3.02B | $3.57B | $3.53B | $2.69B | $2.55B | $470.79M | $349.87M | $62.74M | $56.97M |
| Deferred Tax Assets | $188.54M | $150.69M | $166.96M | $128.47M | $158.93M | $132.59M | $78M | $100.84M | $22.12M |
| Other Long-Term Assets | $81.72M | -$6.53M | $34.75M | $29.72M | $19.69M | $49.17M | $105.25M | $446.63M | $881K |
| Total Long-Term Assets | $7.28B | $8.48B | $7.58B | $5.84B | $4.56B | $2.51B | $2.3B | $1.72B | $1.13B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $17.49B | $19.96B | $18.04B | $16.39B | $15.04B | $15.64B | $10.08B | $5.83B | $4.73B |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $907.33M | $1.42B | $948.77M | $876.03M | $860.41M | $965.86M | $604.61M | $211.57M | $53.86M |
| Short-Term Debt | $105.79M | $43.22M | $43.54M | $92.8M | $68.09M | $226.75M | $451.52M | $171.09M | $206.62M |
| Current Income Tax Payable | $0 | $219.67M | $155.01M | $81.3M | $85.09M | $147.89M | $207.75M | $105.77M | $146.88M |
| Current Unearned Revenue | $854.88M | $910.8M | $703.25M | $493.67M | $169.89M | $110.06M | $88.96M | $45.55M | $36.65M |
| Other Current Liabilities | $922.3M | $382.04M | $2.15B | $2.75B | $2.79B | $297.01M | $1.2B | $2.34B | $1.85B |
| Total Current Liabilities | $6.36B | $7.91B | $5.93B | $5B | $4.34B | $5.04B | $4.17B | $3.08B | $2.41B |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $66.29M | $0 | $0 | $0 | $0 | $2.25M | $734.24M | $16.93M | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $47.56M | $47.63M | $41.88M | $52.65M | $3.44M | $2.59M | $3.37M | $0 | $0 |
| Other Long-Term Liabilities | $322K | $384K | $58K | $71K | $207K | $520K | $18.03M | $79.9M | $0 |
| Total Long-Term Liabilities | $1.16B | $1.34B | $1.29B | $1.04B | $648.74M | $580.14M | $1.19B | $514.95M | $464.13M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $7.52B | $9.25B | $7.22B | $6.04B | $4.99B | $5.62B | $5.36B | $3.6B | $2.87B |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $6.05B | $3.4B | $2.64B |
| Common Stock | $67K | $69K | $71K | $73K | $73K | $72K | $30K | $28K | $27K |
| Retained Earnings | $171.24M | -$258.44M | -$850.48M | -$1.71B | -$1.48B | -$1.38B | -$1.77B | -$1.2B | -$805.19M |
| Comprehensive Income & Other | $201.63M | $230.29M | $158.23M | $37.19M | -$323.2M | -$216.07M | $47.53M | $26.16M | $21.61M |
| Other Stockholders' Equity | $9.79B | $10.95B | $11.66B | $12.04B | $11.52B | $11.39B | $6.48B | $3.42B | $2.66B |
| Total Equity | $9.96B | $10.69B | $10.81B | $10.33B | $10.04B | $10.01B | $4.71B | $2.23B | $1.85B |
| Minority Interest | $13.27M | $18.62M | $15.18M | $20.1M | $12.22M | $4.06M | $13.07M | $1.57M | $9.87M |
| Total Liabilities and Equity | $17.48B | $19.94B | $18.02B | $16.37B | $15.03B | $15.63B | $10.07B | $5.83B | $4.72B |
| Supplementary Data | |||||||||
| Total Debt | $2.81B | $3.4B | $2.7B | $1.83B | $1.13B | $1.2B | $1.96B | $893.48M | $851.87M |
| Net Debt | $1.65B | $1.68B | -$247.15M | -$1.08B | -$1.94B | -$4.94B | -$1.69B | -$473.14M | $66.88M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | $448.86M | $609.41M | $882.97M | -$209.48M | -$78.67M | $416.53M | -$326.84M | -$64.12M | -$80.6M |
| Depreciation & Amortization | $160.77M | $151.78M | $210.22M | $225.29M | $205.5M | $176M | $155.81M | $118.78M | $121.62M |
| Deferred Income Tax | -$36.89M | $22.03M | -$49.26M | $45.24M | -$25.5M | -$53.89M | -$65.76M | -$77.19M | -$30.44M |
| Stock-Based Compensation | $285.59M | $408.69M | $482.07M | $363.59M | $230.62M | $337.71M | $443.1M | $57.3M | $71.33M |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | $210.91M | -$354.94M | $125.13M | $801.48M | $396.7M | -$874.84M | -$755.72M | -$115.3M | -$74.69M |
| Inventory | -$182.51M | $0 | $0 | $0 | -$152.18M | $639.28M | -$68.58M | $267.09M | -$626.04M |
| Accounts Payable | -$487.67M | $368.42M | $72.34M | -$129.89M | -$84.96M | $345.25M | $407.74M | $164.58M | -$104.91M |
| Other Working Capital | -$517.88M | $275.17M | $75.15M | $92.17M | -$154.7M | $338.75M | $152.44M | $145.18M | -$222.39M |
| Total Working Capital Change | -$977.16M | $288.65M | $272.63M | $763.76M | $4.86M | $448.45M | -$264.13M | $461.55M | -$1.03B |
| Other Non-Cash Items | $63.98M | -$64.25M | -$125.88M | $80.03M | $202.17M | $78.74M | $74.71M | -$14.07M | -$21.78M |
| Net Cash from Operating | -$54.86M | $1.42B | $1.67B | $1.27B | $538.98M | $1.4B | $16.88M | $482.26M | -$967.92M |
| Investing Activities | |||||||||
| Capital Expenditures | -$88.63M | -$155.49M | -$131.03M | -$118.89M | -$214.38M | -$132.98M | -$105.39M | -$81.38M | -$86.23M |
| Acquisitions | $2.19M | $17.57M | -$1.48M | -$471.91M | -$498K | $2.2M | -$111.42M | -$43.18M | $9.96M |
| Purchases of Investments | -$6.26B | -$9.18B | -$8.18B | -$9.04B | -$9.89B | -$8.09B | -$1.84B | -$6.16B | -$8.46B |
| Sales of Investments | $7.11B | $8.23B | $7.81B | $8.36B | $5.88B | $5.96B | $1.67B | $6.94B | $8.31B |
| Other Investing Activities | $94.66M | -$316.36M | -$95.91M | $2.27M | $495.7M | $13.38M | -$194.06M | -$269.71M | -$197.25M |
| Net Cash from Investing | $859.6M | -$1.41B | -$596.3M | -$1.27B | -$3.73B | -$2.25B | -$580.75M | $391.16M | -$417.31M |
| Financing Activities | |||||||||
| Debt Repaid | -$26.68M | - | - | $29.11M | $199.89M | $788.34M | -$936.76M | $12.61M | -$145.18M |
| Common Stock Issuance | $292 | $0 | $0 | $0 | $0 | $4.74B | $34.91M | $0 | $0 |
| Common Stock Repurchases | -$959.77M | -$764.75M | -$772.18M | -$197.86M | $0 | $0 | -$52.05M | -$45.9M | $0 |
| Dividends Paid | -$420.17M | -$424.38M | -$213.74M | -$8.37M | -$11.49M | -$5.79M | $0 | $0 | -$19.07M |
| Other Financing Activities | -$185.16M | $320.76M | -$8.38M | $8.37M | $11.36M | -$31.01M | $442.69M | -$173.65M | $1.31B |
| Net Cash from Financing | -$1.43B | -$868.73M | -$1.04B | -$173.16M | -$161.04M | $3.81B | $3.45B | -$192.26M | $1.44B |
| Forex Effect | $99.54M | $25.41M | $6.69M | $4.29M | -$66.29M | -$327.38M | -$14.23M | $62K | -$49K |
| Net Change in Cash | -$523.91M | -$832.96M | $39.46M | -$170.6M | -$3.42B | $2.64B | $2.87B | $681.23M | $50.4M |
| Supplementary Data | |||||||||
| Operating Cash Flow | -$54.86M | $1.42B | $1.67B | $1.27B | $538.98M | $1.4B | $16.88M | $482.26M | -$967.92M |
| Capital Expenditure | -$88.63M | -$155.49M | -$131.03M | -$118.89M | -$214.38M | -$132.98M | -$105.39M | -$81.38M | -$86.23M |
| Free Cash Flow | -$143.49M | $1.26B | $1.54B | $1.15B | $324.6M | $1.27B | -$88.51M | $400.88M | -$1.05B |
| Cash at Beginning | $2.92B | $3.88B | $3.84B | $4.01B | $7.43B | $4.79B | $1.91B | $1.23B | $1.18B |
| Cash at End | $2.39B | $3.04B | $3.88B | $3.84B | $4.01B | $7.43B | $4.79B | $1.91B | $1.23B |