KE Holdings Inc. (HKG:2423)

KE Holdings Financials Overview

Financials in millions CNY. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	88,673	94,580	93,457	77,777	60,669	80,752
Revenue Growth	-13.95%	1.20%	20.16%	28.20%	-24.87%	14.57%
Gross Profit Gross Profit Growth	21,265	20,212	22,944	21,718	13,781	15,819
Operating Income Operating Income Growth	4,848	2,227	3,917	4,890	-684.85	-608.16
Net Income Net Income Growth	4,716	2,994	4,065	5,883	-1,386	-524.13
Earnings Per Share EPS Growth	1.39	0.86	1.15	1.63	-0.39	-0.15
EPS Growth	26.28%	-25.22%	-29.45%	-	-	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Existing Home Transaction Services Net Existing Home Transaction Services Net Growth	24,585	25,020	28,201	27,954	24,124	31,948
New Home Transaction Services Net New Home Transaction Services Net Growth	27,937	30,597	33,653	30,576	28,650	46,472
Home Renovation and Furnishing Net Home Renovation and Furnishing Net Growth	13,445	15,426	14,769	10,850	5,047	197.45
Home Rental Services Net Home Rental Services Net Growth	20,984	21,900	14,334	6,100	1,515	-
Emerging and Other Services Net Emerging and Other Services Net Growth	1,722	1,636	2,500	2,297	1,333	-
Revenue (Total) Revenue (Total) Growth	88,673	94,580	93,457	77,777	60,669	80,752

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	46,973	47,353	52,761	53,893	54,899	49,849
Total Debt Total Debt Growth	14,388	18,776	22,655	17,986	12,191	7,510
Net Cash (Debt) Net Cash Growth	32,585	28,577	30,106	35,907	42,708	42,339
Net Cash Growth	41.61%	-5.08%	-16.16%	-15.93%	0.87%	-13.01%
Net Cash Per Share Net Cash Per Share Growth	9.57	8.23	8.51	9.94	11.97	11.93

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	7,904	-376.17	9,447	11,414	8,519	3,595
Capital Expenditures CapEx Growth	-370.22	-607.73	-1,037	-873.99	-793.03	-1,430
Free Cash Flow Free Cash Flow Growth	7,534	-983.9	8,410	10,540	7,726	2,165
Free Cash Flow Growth	131.45%	-	-20.21%	36.43%	256.83%	-74.45%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	23.98%	21.37%	24.55%	27.92%	22.71%	19.59%
Operating Margin	5.47%	2.35%	4.19%	6.29%	-1.13%	-0.75%
Pretax Margin	7.87%	4.95%	7.35%	10.14%	0.48%	1.41%
Profit Margin	5.32%	3.17%	4.35%	7.56%	-2.28%	-0.65%
FCF Margin	8.50%	-1.04%	9.00%	13.55%	12.73%	2.68%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023
Period Ending	Nov 5, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Dividend Per Share Dividend Per Share Growth	0.721	0.644	0.876	0.830
Dividend Per Share Growth	-22.68%	-26.53%	5.58%	-
Dividend Yield	1.45%	1.75%	1.95%	2.17%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 5, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	31.12	42.78	39.75	24.09	-	-
P/FCF Ratio	19.12	-	19.22	13.45	15.44	70.30
PS Ratio	1.62	1.35	1.73	1.82	1.97	1.89

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Aug 21, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Oct 31, 2026

Data Sources Report a data error