Educational research only—not investment advice or a recommendation. Scores and estimates may use delayed, incomplete, restated, or corrected market and filing data. Independently verify information before making an investment decision.

KE Holdings Inc.

BEKENYSE
Wall Street Score · overall investment56/100
$17.65USD+$0.04 (+0.23%)
Company website bj.ke.com
HeadquartersOriental Electronic Technology Building, Beijing, BE, 100086, CN
Financial statement currencyCNY · converted to USD at 0.148879
Real Estate · Real Estate - Services
Price updated todayFinancials updated Oct 1, 2026

BEKE · Price history

Price at last available close

$17.65

+$0.70 (+4.13%) 1M

2026-10-27

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Company & revenue

About KE Holdings Inc.

Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.

Who they are

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.

How they make money

KE Holdings operates an integrated online and offline platform for housing transactions and services in China. It generates revenue primarily through commissions and service fees from existing and new home transaction services, home rental services, and home renovation and furnishing services, leveraging its proprietary data and agent network.

Products & services

Integrated platform for housing transactions and services including existing and new home sales, home rentals, home renovation, and home furnishing services.

Brands & revenue mix

Lianjia

China's leading real estate brokerage brand owned and operated by the company.

Separate brand revenue is not available in this research.Source

Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.

Product / operating segments

No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.

Geographic revenue

No reconciled geographic revenue breakdown was confirmed for the current research period.

Customer types

Customer concentration

No quantified customer-concentration disclosure is available in the current saved research.

Suppliers, materials & equipment

  • Real estate brokerage stores and agents — Independent brokerage stores and agents that provide housing transaction services on the Beike platform.Source

Strengths

  • Leading integrated online and offline platform for housing transactions and services in ChinaSource
  • Extensive network of active agents and brokerage storesSource

Risks

  • Dependence on the real estate market in ChinaSource
  • Regulatory environment and policy changes in the housing sectorSource

Wall Street Score

Overall investment score · Quality, value, risk and opportunity

56

Fair

PoorElite

View category scores →

Company Quality

How good is the actual business—regardless of today’s stock price?

57

Fair

Financial Strength

71

Business Quality / Moat

54

Management

72

Growth Quality

7

Risk / Durability

66

Cheap for a Reason · Review the Risks

Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.

Opportunity

Opportunity Score · How does the current price compare with estimated value?

67

Fully Valued

Based on current valuation, company quality, recent trends, and available market signals.

View score details →

Model Outlook

12-month model · What does the model think happens next?

67/100

Building Historical Record

Model Score 67/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.

Probability unavailable — the model has not produced a calibrated probability yet.

Click for full breakdown →

WSS View

The quick read

The overall Wall Street Score is mixed across its combined quality, valuation and risk inputs. Review the category scores to identify what is helping or hurting the result.

At today’s price, the WSS valuation framework currently reads as moderate rather than unusually attractive.

The model outlook is currently moderate.

What we like
  • •Balance-sheet / debt profile scores strongly
  • •Valuation scores attractively
  • •Recent buyback activity is present
What to watch
  • •Revenue fundamentals are weak
  • •Asset quality is a weaker factor

Company-specific research

Questions worth answering for BEKE

Research inputs 100% complete

These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.

  • •What is driving BEKE's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
  • •How long can BEKE fund negative free cash flow using its current cash position before it may need more debt or new shares?
  • •Does BEKE's balance between cash and debt leave enough flexibility if business conditions weaken?
  • •Is BEKE's valuation discount tied to a temporary concern or to a longer-term business risk?
Business analysis: 15 days ago · Fresh

Essential Investment Snapshot

Wall Street Score

56

0–100 · Fair

Opportunity Score

67

0–100 · Fair

Market Cap

$20.08B

P/E Ratio

25.9

EPS

$0.65

52-Week High

$19.88

52-Week Low

$13.81

Beta

-0.33

Intrinsic Value

$25.04

Analyst Target

$23.40

Shares Outstanding

1.16B

Total Revenue

$13.19B

Total Debt

$2.14B

Dividend Yield (TTM)

1.56%

View dividend history

Liquidation Value / Share

$8.44

Estimated net asset value per share

Dividend / Share (TTM)

$0.28

Trailing 12 months by ex-date; not a forecast

Momentum & Volatility Signals

Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.

0–100 market signals
Momentum
57/ 100
-14 pts / 5d

Neutral / mixed momentum

5D -2.3% · 20D +6.3% · RSI 60 · Price vs 20D avg +1.8%
Volatility
20/ 100
+1 pts / 5d

Low movement

20D realized vol 28.4% · 60D 34.4% · Acceleration 0.83x
Momentum = Where is it going?

A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.

Volatility = How violently is it moving?

A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.

Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.

Notices for BEKE

Detected from reported data — verify before acting.

Dividend history reported

Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.

Historical repurchase activity

Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.

Community Sentiment

0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)

No personal call yet on BEKE.

Potential upside factors

  • +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
  • +Leading integrated online and offline platform for housing transactions and services in China.
  • +Extensive network of active agents and brokerage stores.

Potential downside factors

  • −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Real Estate - Services industry.
  • −Dependence on the real estate market in China.
  • −Regulatory environment and policy changes in the housing sector.
  • −Negative free cash flow may increase the need for outside financing and dilution.

These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.

Create a free account to make a call.

Scores

Click any score for full breakdown
Wall Street Score
Fair56/ 100
Weak (0–50)Fair (51–71)Strong (72+)

Fair

56

Tap for breakdown →

Strong

88

Debt Cost0.0%
Debt Reduction YoY17.1%
Debt / Equity0.28x

Tap for breakdown →

Poor

21

Revenue YoY-6.3%
Revenue CAGR10.3%
Net Margin5.3%

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Weak

40

Asset Growth YoY-12.4%
Liquidation/Share$8.44
Net Assets/MCap0.78x

Tap for breakdown →

Fair

55

Earnings Yield3.8%
Buyback Yield3.6%
Debt Cost0.0%

Tap for breakdown →

Strong

72

ROIC3.1%
ROE7.2%
ROA4.2%

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Fair

54

EPS Growth-1.3%
FCF/Share Growth—
Rev/Share Growth11.3%

Tap for breakdown →

Strong

74

Intrinsic Value$25.04
Value Reference$15.03
MOS31.8%

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Fair

59

Revenue21
Moat54
Valuation74

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Strong

82

MOS %31.8%
Value Reference$15.03
Deep Discount Reference$10.02

Tap for breakdown →

Fair

60

Interest Coverage381.3x
ROIC3.1%
FCF Yield-0.8%

Tap for breakdown →

Fair

68

Financial60
Valuation74
Debt88

Tap for breakdown →

Fair

60

Survival Years49.5 yrs
Current Ratio1.61x
FCF Margin-1.0%

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Score Changes

5 historical score records available

Previous Score

55

Sep 9, 2026

Change

+1.0

points

Current Score

56

Oct 1, 2026

Category Changes

Revenue+0.3
Debt0
Assets+0.6
Capital+1.0
Management0
Moat+1.7
Valuation+3.2
Buffett+0.7

BEKE increased 1 points because Valuation improved by 3.2 points.

Positive Contributors

  • + Valuation improved by 3.2 points

Projected Score

Projected Score

61

Projected Change

+4.3 points

Preliminary comparable-period financial changes suggest improvement of approximately 4.3 points. This is a projected estimate, not the official WallStreetScore.

Price vs. Value

Undervalued

Current Price

$17.65

Model Intrinsic Value

$25.04

Difference

−$7.39

-29.5% vs IV

Margin of Safety

29.5%

UndervaluedFair ValueOvervalued
Value Reference: $15.03
Deep Discount Reference: $10.02

Financial Charts

Revenue

201720182019202020212022202320242025$0$4.0B$8.0B$12.0B$16.0B

Additional Metrics

Operating Cash Flow

201720182019202020212022202320242025-$1.7B-$850M$0$850M$1.7B

Total Debt

201720182019202020212022202320242025$0$850M$1.7B$2.5B$3.4B

Total Assets

201720182019202020212022202320242025$0$5.0B$10.0B$15.0B$20.0B

Net Margin %

No data
Monetary values in USD. Share counts in raw units.

Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.

Line ItemTTM202520242023202220212020201920182017
Revenue$13.19B$14.08B$13.91B$11.58B························
Cost of Revenue$10.03B$11.07B$10.50B$8.35B························
Gross Profit$3.16B$3.01B$3.42B$3.23B························
Research & Development$357.8M$384.2M$340.0M$288.3M························
SG&A Expenses$2.08B$2.29B$2.49B$2.22B························
Operating Expenses$2.35B$2.59B$2.72B$2.39B························
EBITDA$1.38B$857.1M$1.18B$1.39B························
Operating Income$809.9M$421.0M$692.0M$841.5M························
Interest Expense$0.00$1.1M$4.3M$4.2M························
Income Before Tax$1.04B$696.3M$1.02B$1.17B························
Income Tax Expense$338.0M$251.0M$415.7M$296.9M························
Net Income$700.9M$445.7M$605.2M$875.9M························
Basic EPS$0.65$0.40$0.53$0.75························
Basic Shares1.08B1.11B1.14B1.20B························
Diluted Shares1.12B1.16B1.18B1.20B························
Upgrade to Premium for up to 10 annual periods, where available.
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Earnings Summary

Estimated earnings date:Nov 10, 2026
Estimated EPS: $0.25Estimated revenue: $3.10B
Jun 30, 2026Q2FY2026

Revenue

$3.64B

Estimate unavailable.

Revenue Beat/Miss

Not available (no estimate stored)

EPS

$0.35

Estimate unavailable.

EPS Beat/Miss

Not available (no estimate stored)

Debt Change

-34.5%

Cash Change

+47.8%

Margin Change

+5.7 pp

Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.

Financial Changes Since Prior Period

What Improved

  • Margins expanded
  • Cash position grew
  • Debt reduced

Potential Score Impact

Positive indicators included EPS growth, cash levels, debt levels, net income margin. Pressure indicators included revenue growth. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.

Stored Earnings Analysis

Revenue declined 5.9%. EPS increased 110.8%. Cash increased 47.8%. Total debt declined 34.5%. Net income margin improved by 5.7 percentage points.

Earnings-Call Transcript

Earnings-call transcript analysis is not currently available.

These results may influence future scores when the next evaluation is completed.

Upgrade to Premium to unlock all earnings history.View plans
Earnings data: 120 days ago · Stale

Insider Activity

Guru / Smart Money

Guru Score

32

Smart Money

32

Number of Gurus

3

Total Guru Value

Avg Portfolio Weight

Largest Holder

Largest Holder %

New Positions

Increased Positions

Reduced Positions

Exited Positions

Net Guru Sentiment

Loading data...

Short Interest

Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.

Dividend History

Log in to view dividend history.

Conservative Projected Values

3 Years

$———.——

Premium

5 Years

$———.——

Premium

10 Years

$———.——

Premium

Conservative Projection Rate

——%

Premium

Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.

Conservative Projected Values

Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.

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Historical Outperformance Record

Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.

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Historical Trends

5 historical records
Jul 23, 26Aug 12, 26Sep 2, 26Sep 9, 26Oct 1, 260255075100

Historical Score Chart

3 of 5 records shown
3 historical score records are shown. Start your seven-day free trial to unlock 2 more records and the complete score history.Start Free Trial

Wall Street Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Debt Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Revenue Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Asset Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Capital Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Management Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Moat Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Valuation Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Buffett Score

Sep 2, 26Sep 9, 26Oct 1, 260255075100

Intrinsic Value

Sep 2, 26Sep 9, 26Oct 1, 26$24.95$24.98$25.00$25.02$25.05

Value Reference

Sep 2, 26Sep 9, 26Oct 1, 26$14.97$14.98$15.00$15.02$15.03

Margin of Safety %

Sep 2, 26Sep 9, 26Oct 1, 260.3%0.3%0.3%0.3%0.3%

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News

Rumor Mill · BEKE

Corporate developments & opportunities

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No reviewed developments match this filter.

Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.

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