KE Holdings Income Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	103,517	93,457	77,777	60,669	80,752	70,481
Revenue Growth (YoY)	25.42%	20.16%	28.20%	-24.87%	14.57%	53.17%
Cost of Revenue	80,891	70,513	56,059	46,888	64,933	53,621
Gross Profit	22,626	22,944	21,718	13,781	15,819	16,860
Selling, General & Admin	16,525	16,744	14,891	11,920	13,234	11,304
Research & Development	2,604	2,283	1,937	2,546	3,194	2,478
Other Operating Expenses	227.89	151.58	93.42	148.06	746.71	236.05
Operating Income	3,269	3,765	4,797	-832.91	-1,355	2,842
Interest Income	981.8	1,270	1,272	788.07	391.17	126.03
Other Non-Operating Income (Expense)	1,757	1,835	1,814	337.12	2,104	1,419
Total Non-Operating Income (Expense)	2,739	3,105	3,087	1,125	2,496	1,545
Pretax Income	6,008	6,870	7,884	292.29	1,141	4,387
Provision for Income Taxes	2,522	2,792	1,994	1,690	1,665	1,609
Net Income	3,476	4,065	5,883	-1,386	-524.13	720.47
Minority Interest in Earnings	-9.85	-13.28	-6.38	11.21	0.64	-0.73
Net Income Attributable to Preferred Dividends	-	-	-	-	-	2,057
Net Income to Common	3,476	4,065	5,883	-1,386	-524.13	720.47
Net Income Growth	-16.53%	-30.91%	-	-	-	-
Shares Outstanding (Basic)	1,181	1,215	1,233	1,200	1,200	1,146
Shares Outstanding (Diluted)	1,181	1,244	1,263	1,247	1,200	1,334
Shares Change (YoY)	11.59%	-1.45%	1.29%	3.89%	-10.04%	190.36%
EPS (Basic)	2.94	3.36	4.77	0.63	-1.32	2.43
EPS (Diluted)	2.94	3.27	4.65	0.60	-1.32	2.10
EPS Growth	-51.92%	-29.68%	675.00%	-	-	-
Free Cash Flow	-	8,410	10,284	7,726	2,165	8,475
Free Cash Flow Growth	-	-18.22%	33.11%	256.83%	-74.45%	-
Free Cash Flow Per Share	-	6.76	8.14	6.20	1.80	6.35
Dividends Per Share	2.628	2.628	2.489	-	-	-
Dividend Growth	-	5.58%	-	-	-	-
Gross Margin	21.86%	24.55%	27.92%	22.71%	19.59%	23.92%
Operating Margin	3.16%	4.03%	6.17%	-1.37%	-1.68%	4.03%
Profit Margin	3.37%	4.36%	7.57%	-2.30%	-0.65%	3.94%
FCF Margin	-	9.00%	13.22%	12.73%	2.68%	12.02%
EBITDA	3,269	4,777	6,199	669.82	15.9	4,016
EBITDA Margin	3.16%	5.11%	7.97%	1.10%	0.02%	5.70%
EBIT	3,269	3,765	4,797	-832.91	-1,355	2,842
EBIT Margin	3.16%	4.03%	6.17%	-1.37%	-1.68%	4.03%
Effective Tax Rate	41.98%	40.64%	25.30%	578.05%	146.00%	36.67%

Updated Nov 10, 2025. Data Source: Fiscal.ai. standard template. Financial Sources.

SEC Filings: 10-K · 10-Q