BEKE Stock Analysis: Ke Holdings | NYSE
Real Estate Services | NYSE, USA | Market Cap: 16.650m USD | 12M Return: -14% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 57.2M
EPS Trend: -91.9%
Qual. Beats: 1
Rev. Trend: 79.5%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 5.9 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
KE Holdings Inc. (NYSE: BEKE) operates an integrated online and offline platform for housing transactions and services in China, with operations spanning five segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, Home Rental Services, and Emerging and Other Services. Its platform ecosystem includes the Beike marketplace, the Lianjia real estate brokerage brand, the Deyou connected brokerage network, and an Agent Cooperation Network designed to facilitate collaboration among service providers. Beyond transactions, the company also offers rental property management, contract, escrow, and secure payment services.
The company is headquartered in Beijing and was founded in 2001, with its NYSE IPO completed in August 2020. As a large-cap Chinese real estate-related business, KE Holdings benefits from Chinas status as one of the worlds largest housing markets, and its asset-light platform model - monetizing primarily through agent commissions and value-added services rather than direct property ownership - distinguishes it from traditional real estate developers categorized under the GICS Real Estate sub-industry.
- China property slump drags existing home transaction volume
- Developer distress weighs on new home transaction services revenue
- Home renovation segment expands as brokerage diversification driver
| Net Income: 3.39b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -1.55 > 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 (7.20b): -3.17 < 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: 807.8 > 6 (EBIT TTM 5.99b / 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: 0.05 (EBIT TTM 5.99b / Avg Total Assets 121b) |
| D: 1.34 (Book Value of Equity 64.1b / Total Liabilities 47.7b) |
| Altman-Z'' = 3.32 = A |
| DSRI: 0.48 (Receivables 6.60b/15.4b, 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 = -3.52 (Cap -4..+1) = AAA |
As of July 14, 2026, the stock is trading at USD 16.07 with a total of 3,685,007 shares traded. Over the past week, the price has changed by +6.99%, over one month by -3.02%, over three months by +1.64% and over the past year by -13.99%.
Current recommended Stop Loss: 15.00 (which is 6.7% or 2.2 ATR below the current price).
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 | 22.7 | 41.4% |
Market Cap CNY = 113b (16.7b USD * 6.777 USD.CNY)
P/E Trailing = 34.1364
P/E Forward = 13.7741
P/S = 0.1847
P/B = 1.7677
P/EG = 0.4656
Revenue TTM = 89.8b CNY
EBIT TTM = 5.99b CNY
EBITDA TTM = 7.20b CNY
Long Term Debt = 776.3m CNY (from longTermDebt, last quarter)
Short Term Debt = 9.75b 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 = 90.0b CNY (113b + Debt 30.9b - CCE 53.7b)
Interest Coverage Ratio = 807.8 (Ebit TTM 5.99b / Interest Expense TTM 7.42m)
EV/FCF = 23.68x (Enterprise Value 90.0b / FCF TTM 3.80b)
FCF Yield = 4.22% (FCF TTM 3.80b / Enterprise Value 90.0b)
FCF Margin = 4.23% (FCF TTM 3.80b / 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 = 0.80 (Enterprise Value 90.0b / Total Assets 112b)
Interest Expense / Debt = 0.02% (Interest Expense 7.42m / Debt 30.9b)
Taxrate = 33.82% (1.73b / 5.12b)
NOPAT = 3.97b (EBIT 5.99b * (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 = -3.17 (Net Debt -22.8b / EBITDA 7.20b)
Debt / FCF = -5.99 (Net Debt -22.8b / FCF TTM 3.80b)
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 = 8.87% (EBIT 5.99b / Capital Employed (Equity 66.8b + L.T.Debt 776.3m))
RoIC = 5.20% (NOPAT 3.97b / Invested Capital 76.3b)
WACC = 6.72% (E(113b)/V(144b) * Re(8.56%) + D(30.9b)/V(144b) * Rd(0.02%) * (1-Tc(0.34)))
Discount Rate = 8.56% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -91.11 | Cagr: -1.95%
[DCF] Terminal Value 73.10% ; FCFF base≈4.87b ; Y1≈4.27b ; Y5≈3.45b
[DCF] Fair Price = 73.49 (EV 55.3b - Net Debt -22.8b = Equity 78.1b / Shares 1.06b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -91.89 | EPS CAGR: -26.12% | SUE: 1.13 | # 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=+57% | Analysts=5
EPS next Quarter (2026-09-30): EPS=1.65 | Chg30d=+18.45% | Revisions=+29% | Analysts=4
EPS current Year (2026-12-31): EPS=6.71 | Chg30d=+15.69% | Revisions=+80% | GrowthEPS=+54.5% | GrowthRev=-5.6%
EPS next Year (2027-12-31): EPS=7.64 | Chg30d=N/A | Revisions=+79% | GrowthEPS=+13.9% | GrowthRev=+5.0%
[Analyst] Revisions Ratio: +85% (up=30, down=1)