BEKE
Real EstateKE Holdings Inc. · Real Estate - Services · $18B
What is KE Holdings Inc.?
KE Holdings operates China's largest integrated platform for housing transactions, connecting buyers, sellers, renters, and agents through its Beike and Lianjia brands. Founded in 2001 and headquartered in Beijing, the company bridges online discovery with offline brokerage services.
KE Holdings generates revenue by facilitating existing home sales, new home sales, home renovation and furnishing projects, and rental property management across China. Its Agent Cooperation Network links independent brokers under shared operating standards, while the Beike platform provides digital tools for property search and transaction management. The company also offers contract, escrow, and secure payment services that support end-to-end housing transactions.
KE Holdings was incorporated in 2020 and is headquartered in Beijing, China.
- Beike — integrated online and offline housing transaction platform
- Lianjia — branded real estate brokerage store network
- Agent Cooperation Network — shared operating system for brokers
- Home renovation and furnishing services
- Rental property management and operation services
Is BEKE a Good Stock to Buy?
UQS Score rates BEKE as Below Average overall, reflecting meaningful challenges across several key dimensions.
The Valuation pillar stands out as a relative bright spot, suggesting the market may already be pricing in much of the near-term uncertainty. The Risk and Moat pillars both register as Neutral, meaning the company is not viewed as exceptionally fragile or without any competitive positioning.
Both the Quality and Growth pillars are rated Weak, pointing to concerns around earnings durability and the company's ability to expand in a challenging Chinese property market.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does BEKE pay dividends?
Yes — KE Holdings Inc. pays a dividend.
KE Holdings pays a regular dividend, which is relatively uncommon among Chinese technology-enabled real estate platforms. This signals a degree of capital discipline and a willingness to return cash to shareholders. Investors should review the company's investor relations page for the most current dividend details, as payout levels can shift alongside business conditions in China's property sector.
When does BEKE report earnings?
KE Holdings reports earnings on a quarterly cadence, consistent with its listing as a US-traded ADR.
Revenue trends have reflected the broader volatility in China's residential property market, with existing home and new home transaction volumes sensitive to policy shifts and consumer confidence. The home renovation and rental segments have provided some diversification, though overall growth has remained under pressure.
For the most recent quarter's results, visit KE Holdings' official investor relations page.
BEKE Price History
-66.6% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in KE Holdings Inc.?
Based on KE Holdings Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
BEKE Long-term Outlook
The UQS Growth pillar is rated Weak, suggesting the near-term expansion trajectory faces headwinds — primarily from ongoing softness in China's housing market and regulatory uncertainty. The Neutral Risk rating indicates the company is not in acute financial distress, but the path to sustained growth recovery remains unclear. A Good Valuation rating implies that downside expectations may already be reflected in the current price, which could limit further multiple compression even if fundamentals remain subdued.
Growth drivers
- Potential recovery in Chinese residential property transaction volumes
- Expansion of home renovation, furnishing, and rental service segments
- Continued digitization of China's fragmented real estate brokerage market
Key risks
- Prolonged weakness in China's property market dampening transaction volumes
- Regulatory and policy risk from Chinese government oversight of real estate
- Execution risk in scaling newer segments like renovation and rental management
BEKE vs Peers
KE Holdings competes in the broader real estate services space alongside global platforms and brokerage firms, though its China-focused model sets it apart.
CoStar focuses on commercial real estate data and analytics primarily in North America and Europe, contrasting with BEKE's consumer-facing residential transaction model in China.
JLL is a global commercial real estate services firm serving institutional clients, whereas KE Holdings targets individual homebuyers, sellers, and renters through a tech-enabled agent network.
Brookfield Office Properties is a property owner and operator focused on office assets, a fundamentally different model from BEKE's asset-light transaction and brokerage platform.
Frequently Asked Questions
What does KE Holdings do?
KE Holdings operates Beike and Lianjia, China's leading integrated platforms for residential housing transactions. The company connects buyers, sellers, renters, and real estate agents through both digital tools and physical brokerage stores. It also provides home renovation, furnishing, and rental management services.
Does BEKE pay dividends?
Yes, KE Holdings pays a regular dividend. This is relatively uncommon for a growth-oriented Chinese technology platform. Investors should check the company's investor relations page for current dividend details, as amounts can change based on business performance and board decisions.
When does BEKE report earnings?
KE Holdings reports financial results on a quarterly basis, in line with its US-listed ADR obligations. For the exact timing of upcoming earnings releases, refer to the company's investor relations page, which publishes the official financial calendar.
Is BEKE a good stock to buy?
UQS Score rates BEKE as Below Average, driven by Weak Quality and Growth pillar ratings. The Valuation pillar is rated Good, which may interest value-oriented investors. However, the overall profile reflects meaningful fundamental challenges. Pro members can view the complete pillar breakdown to inform their own assessment.
Is BEKE overvalued?
The UQS Valuation pillar for BEKE is rated Good, suggesting the stock is not considered expensive relative to its fundamentals at current levels. This may reflect the market already pricing in the headwinds facing China's property sector. Full valuation metrics are available to UQS Pro members.
How does BEKE compare to its competitors?
KE Holdings is distinct from peers like CoStar Group and Jones Lang LaSalle in that it focuses exclusively on China's residential market through an agent-network model. Its competitors are largely Western-focused or commercially oriented, making direct comparisons limited. BEKE's scale within China's fragmented brokerage market remains a key differentiator.
What is BEKE's market cap bracket?
KE Holdings is classified as a large-cap stock, reflecting its significant scale as the dominant housing transaction platform in China. Large-cap status generally implies greater liquidity and institutional coverage compared to smaller peers.
Who founded KE Holdings?
KE Holdings traces its roots to Lianjia, a real estate brokerage founded in 2001. The holding company structure under the KE Holdings name was established around 2018, with Zuo Hui widely credited as the founder. The company went public in the United States in 2020.
Is BEKE a long-term quality indicator?
From a long-term quality perspective, BEKE's UQS profile shows Weak Quality and Growth ratings, which are important signals for investors with multi-year horizons. The Neutral Moat rating suggests some competitive positioning exists, but durability is uncertain. Pro members can access the full analysis to evaluate long-term fundamentals in depth.
What is the main competitive advantage of KE Holdings?
KE Holdings' primary competitive advantage lies in its Agent Cooperation Network, which links thousands of brokers under shared standards and data infrastructure. This network effect creates switching costs for agents and gives Beike a data advantage in matching buyers and sellers — a moat that smaller regional brokers struggle to replicate.
What sector does BEKE belong to?
KE Holdings is classified in the Real Estate sector. More specifically, it operates as a real estate services and technology company rather than a property owner, making it more comparable to brokerage and transaction platforms than to REITs or property developers.
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Pro Analysis
BEKE — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 38.0 | 10.4 | 43.0 | 29.1 | 52.5 | 73.3 | -0.9 |
| May 22, 2026 | 38.9 | 10.4 | 43.0 | 33.4 | 52.5 | 73.3 | +0.1 |
| May 21, 2026 | 38.8 | 10.4 | 43.0 | 33.1 | 52.5 | 73.3 | 0.0 |
| May 20, 2026 | 38.8 | 10.4 | 43.0 | 33.0 | 52.5 | 73.3 | -0.1 |
| May 16, 2026 | 38.9 | 10.4 | 43.0 | 33.2 | 52.5 | 73.3 | +0.1 |
| May 12, 2026 | 38.8 | 10.4 | 43.0 | 32.7 | 52.5 | 73.3 | +0.1 |
| May 10, 2026 | 38.7 | 10.4 | 43.0 | 32.6 | 52.5 | 73.3 | 0.0 |
| May 8, 2026 | 38.7 | 10.4 | 43.0 | 32.3 | 52.5 | 73.3 | 0.0 |
| May 6, 2026 | 38.7 | 10.4 | 43.0 | 32.3 | 52.5 | 73.7 | 0.0 |
| May 4, 2026 | 38.7 | 10.4 | 43.0 | 32.2 | 52.5 | 73.3 | -0.2 |
BEKE — Pillar Breakdown
Quality
— 10.4/100 (25%)KE Holdings Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 29.1/100 (20%)KE Holdings Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 52.5/100 (15%)KE Holdings Inc. has some risk factors including moderate leverage or solvency concerns.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 73.3/100 (15%)KE Holdings Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 43/100 (25%)KE Holdings Inc. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for BEKE.
Score Composition
Financial Data
More Stock Analysis
How is the BEKE UQS Score Calculated?
The UQS (Unified Quality Score) for KE Holdings Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses KE Holdings Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether KE Holdings Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.