KE Holdings Inc - ADR

KE Holdings Inc - ADR

BEKE

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Market Cap$18.8B
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Compare to Similar Companies

P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
KE Holdings Inc - ADRKE Holdings Inc - ADR37.61.64%5%0.20.3

Earnings Call Q4 2025

March 16, 2026 - AI Summary

Strategic pivot to “efficiency-driven” growth (core message for 2026) - Management said 2025 strategy shifted from scale-driven to efficiency-driven to improve unit economics and cost structure; platform capability and AI-enabled decision support are positioned as the sustainable growth engine. - CEO emphasized the industry is moving from winning by agent/store headcount to winning by service capability + operational efficiency, with value creation for customers (certainty in decisions) as the long-term driver.
2025 FY financial/operating highlights: resilient fee mix + margin improvement, driven by cost discipline - Fee revenue relatively stable vs broader industry; non-housing transaction revenue hit 41% of total (record high). - Existing home “existing home GTV” structure improved: connected brands ~63% of existing home GTV; existing home platform service revenue “basically stable” YoY. - Cost and profitability: operating expenses ratio down 1.4pp YoY; existing home fixed labor costs declined for 4 consecutive quarters; new home contribution margin improved (+0.2pp YoY), plus home renovation/home rental profitability gains. - Shareholder returns: ~$921m share repurchases in 2025 (+29% YoY) and final cash dividend ~ $0.3b, making total shareholder return ~$1.22b (~+9% YoY)—management stated this equals about 170% of 2025 non-GAAP net profit (strong capital return profile).
Q4 2025: sharp YoY revenue/GTV decline from high base; margins pressured; one-off cost optimization hit earnings - GTV: RMB 724.1b, -36.7% YoY - Revenue: RMB 22.2b, -28.7% YoY - Gross margin: 21.4%, -1.6pp YoY - Bottom line: GAAP net income RMB 82m (-85.7% YoY); non-GAAP net income RMB 517m (-61.5% YoY) - CFO noted Q4 profitability was partially impacted by one-off expenses from cost optimization initiatives (important “bad” point that management tried to frame as transitional).

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$22.85

Target Price by Analysts

35.3% upsideKE Holdings Target Price DetailsTarget Price
$-9.40

Current Fair Value

155.7% downside

Overvalued by 155.7% based on the discounted cash flow analysis.

Share Statistics

Market cap$18.80 Billion
Enterprise Value$21.25 Billion
Dividend Yield$0.28 (1.64%)
Earnings per Share$2.67
Beta-0.35
Outstanding Shares1,091,987,666

Return

Return on Equity5.29%ROE
Return on Assets3.03%
Return on Invested Capital4.95%

Valuation & Multiples

P/E Ratio37.55P/E Ratio
PEG80.39PEG
Price to Sales0.21Price to Sales
Price to Book Ratio0.29Price to Book Ratio
Enterprise Value to Revenue0.24
Enterprise Value to EBIT6.04
Enterprise Value to Net Income6
Total Debt to Enterprise1.05
Debt to Equity0.35Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
May 21, 2026
EPS Estimate
$0.14
Average shareholder expectation
Revenue Estimate
$2.70 B
Average shareholder expectation

Next Earnings Call

Expected Date
August 25, 2026
EPS Estimate
$0.31
Average shareholder expectation
Revenue Estimate
$3.61 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio1.2103 71.53%
Total Calls3,615,500 80.09%
Total Puts4,375,800 51.33%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %12.35% 3.05%
Total Invested$2.13B 22.38%
Investors Holding229 23.00%

ESG Score

No data

About KE Holdings Inc

Relevant Senate Committees

Joint Committee on Taxation

While advisory, this committee's non-partisan revenue estimates (scoring) are crucial for all tax legislation, directly influencing corporate tax structures and capital investment credits, which profoundly affect real estate companies and the broader market.

Finance

As the primary committee for taxation, its decisions on corporate tax rates, capital gains, and individual tax policies directly and significantly impact the profitability of real estate companies, transaction volumes, and overall market demand.

Judiciary

This committee's jurisdiction over antitrust laws and intellectual property is highly relevant for a large, technology-driven real estate platform like KE Holdings, impacting potential mergers, market dominance, and proprietary technology.

Banking, Housing, and Urban Affairs

This committee has direct regulatory oversight over housing policy (HUD), financial markets, and lending practices (mortgages), which are central to the real estate agent and broker industry. SEC oversight is also critical for a publicly traded company.

Commerce, Science, and Transportation

With vast jurisdiction over interstate commerce, the FTC, and privacy laws, this committee directly impacts how online real estate platforms (like KE Holdings) operate, market, and handle consumer data, as well as general business conduct.