(BEKE) Ke Holdings - NYSE
Sector: Real Estate | Industry: Real Estate Services | Exchange: NYSE (USA) | Market Cap: 17.807m USD | Total Return: -9.4% in 12m
Avg Turnover: 90.3M
EPS Trend: -95.7%
Qual. Beats: 1
Rev. Trend: 79.5%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
Confidence
KE Holdings Inc. (BEKE) operates an integrated housing platform in China, facilitating residential transactions through five distinct segments: existing and new home services, home renovation, rental services, and emerging sectors. The company utilizes its proprietary Beike platform and Lianjia brokerage brand to bridge online search and offline execution.
The business model relies on the Agent Cooperation Network (ACN), which standardizes professional conduct and commission sharing among fragmented service providers. This ecosystem approach is significant in the Chinese real estate market, where digital integration is increasingly used to mitigate information asymmetry between buyers and sellers.
A deeper look into the companys financial health on ValueRay can provide further clarity on its market position.
Headquartered in Beijing, KE Holdings also manages property rentals and ancillary services such as escrow and secure payment processing. The firm’s infrastructure supports both its owned Lianjia stores and third-party connected brokerages under the Deyou brand.
- Chinese property market recovery drives transaction volume in existing and new homes
- Government stimulus measures impact buyer demand and developer liquidity across major cities
- Expansion into home renovation and rental services diversifies non-transactional revenue streams
- Regulatory oversight of real estate brokerage fees affects platform take rates and margins
- Agent Cooperation Network efficiency determines operational leverage and market share growth potential
| Net Income: 3.39b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -4.03 > 1.0 |
| NWC/Revenue: 28.87% < 20% (prev 17.33%; Δ 11.54% < -1%) |
| CFO/TA 0.05 > 3% & CFO 5.44b > Net Income 3.39b |
| Net Debt (-22.8b) to EBITDA (6.60b): -3.46 < 3 |
| Current Ratio: 1.63 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.13b) vs 12m ago -3.38% < -2% |
| Gross Margin: 22.13% > 18% (prev 23.55%; Δ -1.41% > 0.5%) |
| Asset Turnover: 74.09% > 50% (prev 76.88%; Δ -2.79% > 0%) |
| Interest Coverage Ratio: 726.3 > 6 (EBIT TTM 5.39b / Interest Expense TTM 7.42m) |
| A: 0.23 (Total Current Assets 66.8b - Total Current Liabilities 40.9b) / Total Assets 112b |
| B: 0.02 (Retained Earnings 2.05b / Total Assets 112b) |
| C: 0.04 (EBIT TTM 5.39b / Avg Total Assets 121b) |
| D: 1.34 (Book Value of Equity 64.1b / Total Liabilities 47.7b) |
| Altman-Z'' = 3.29 = A |
| DSRI: 1.44 (Receivables 6.60b/5.14b, Revenue 89.8b/100b) |
| GMI: 1.06 (GM 23.55% / 22.13%) |
| AQI: 0.91 (AQ_t 0.24 / AQ_t-1 0.26) |
| SGI: 0.89 (Revenue 89.8b / 100b) |
| TATA: -0.02 (NI 3.39b - CFO 5.44b) / TA 112b) |
| Beneish M = -2.74 (Cap -4..+1) = A |
As of June 13, 2026, the stock is trading at USD 16.89 with a total of 3,648,336 shares traded.
Over the past week, the price has changed by +5.04%,
over one month by -8.80%,
over three months by +4.57% and
over the past year by -9.41%.
Ke Holdings has received a consensus analysts rating of 4.61. Therefore, it is recommended to buy BEKE.
- StrongBuy: 15
- Buy: 7
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 22.9 | 35.5% |
Market Cap CNY = 121b (17.8b USD * 6.7763 USD.CNY)
P/E Trailing = 36.3636
P/E Forward = 14.9925
P/S = 0.2025
P/B = 1.9183
P/EG = 0.5066
Revenue TTM = 89.8b CNY
EBIT TTM = 5.39b CNY
EBITDA TTM = 6.60b CNY
Long Term Debt = 776.3m CNY (from longTermDebt, last quarter)
Short Term Debt = 9.71b CNY (from shortTermDebt, last quarter)
Debt = 30.9b CNY (from shortLongTermDebtTotal, last quarter) + Leases 14.7b
Net Debt = -22.8b CNY (calculated: Debt 30.9b - CCE 53.7b)
Enterprise Value = 97.9b CNY (121b + Debt 30.9b - CCE 53.7b)
Interest Coverage Ratio = 726.3 (Ebit TTM 5.39b / Interest Expense TTM 7.42m)
EV/FCF = 95.22x (Enterprise Value 97.9b / FCF TTM 1.03b)
FCF Yield = 1.05% (FCF TTM 1.03b / Enterprise Value 97.9b)
FCF Margin = 1.14% (FCF TTM 1.03b / Revenue TTM 89.8b)
Net Margin = 3.78% (Net Income TTM 3.39b / Revenue TTM 89.8b)
Gross Margin = 22.13% ((Revenue TTM 89.8b - Cost of Revenue TTM 70.0b) / Revenue TTM)
Gross Margin QoQ = 24.14% (prev 21.44%)
Tobins Q-Ratio = 0.87 (Enterprise Value 97.9b / Total Assets 112b)
Interest Expense / Debt = 0.02% (Interest Expense 7.42m / Debt 30.9b)
Taxrate = 33.82% (1.73b / 5.12b)
NOPAT = 3.57b (EBIT 5.39b * (1 - 33.82%))
Current Ratio = 1.63 (Total Current Assets 66.8b / Total Current Liabilities 40.9b)
Debt / Equity = 0.48 (Debt 30.9b / totalStockholderEquity, last quarter 64.1b)
Debt / EBITDA = -3.46 (Net Debt -22.8b / EBITDA 6.60b)
Debt / FCF = -22.18 (Net Debt -22.8b / FCF TTM 1.03b)
Total Stockholder Equity = 66.8b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.80% (Net Income 3.39b / Total Assets 112b)
RoE = 5.08% (Net Income TTM 3.39b / Total Stockholder Equity 66.8b)
RoCE = 7.97% (EBIT 5.39b / Capital Employed (Equity 66.8b + L.T.Debt 776.3m))
RoIC = 4.68% (NOPAT 3.57b / Invested Capital 76.2b)
WACC = 6.94% (E(121b)/V(152b) * Re(8.71%) + D(30.9b)/V(152b) * Rd(0.02%) * (1-Tc(0.34)))
Discount Rate = 8.71% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -91.11 | Cagr: -1.95%
[DCF] Terminal Value 73.10% ; FCFF base≈3.20b ; Y1≈2.81b ; Y5≈2.27b
[DCF] Fair Price = 55.45 (EV 36.4b - Net Debt -22.8b = Equity 59.2b / Shares 1.07b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -95.70 | EPS CAGR: -19.65% | SUE: 1.12 | # QB: 1
Revenue Correlation: 79.49 | Revenue CAGR: 11.66% | SUE: 0.04 | # QB: 0
EPS current Quarter (2026-06-30): EPS=2.18 | Chg30d=+39.50% | Revisions=+50% | Analysts=5
EPS next Quarter (2026-09-30): EPS=1.65 | Chg30d=+18.45% | Revisions=+25% | Analysts=4
EPS current Year (2026-12-31): EPS=6.67 | Chg30d=+16.65% | Revisions=+75% | GrowthEPS=+53.7% | GrowthRev=-5.6%
EPS next Year (2027-12-31): EPS=7.64 | Chg30d=+11.53% | Revisions=+73% | GrowthEPS=+14.4% | GrowthRev=+9.7%
[Analyst] Revisions Ratio: +75%