KE Holdings

BEKE

Market cap $18.5B

KE Holdings remains a hold as core transaction volumes and revenues continue to decline sharply, with no imminent recovery in sight. Q4 results were weak: net revenues fell 28.7% y/y, GTV dropped 36.7%, and EBIT margin turned negative, reflecting broad-based pressure across key segments. Management maintains a neutral 2026 market outlook, and stabilization is not expected before 2027, limiting near-term re-rating potential.

I have retained a "Hold" rating for KE Holdings after analyzing its performance and prospects. Quarterly results were weak but met consensus. Its 4Q2025 revenue and net income were down 29% and 61%, respectively. BEKE's outlook is murky, considering a disappointing Q1 guide and a high probability of sustained shareholder returns.

KE Holdings Inc. (BEKE) Q4 2025 Earnings Call Transcript

BEIJING, March 16, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE and HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that its board of directors (the “Board”) approved a final cash dividend (the “Dividend”) of US$0.092 per ordinary share, or US$0.276 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business on April 8, 2026, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The aggregate amount of the Dividend to be paid will be approximately US$0.3 billion, which will be funded by cash surplus on the Company's balance sheet.

BEIJING, March 16, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025, and also announced a final cash dividend. Business and Financial Highlights for the Fourth Quarter and Fiscal Year 2025 Gross transaction value (GTV) 1 in 2025 was RMB3,183.3 billion (US$455.2 billion), a decrease of 5.0% year-over-year.

CoreView Capital Management sold 207,358 shares of KE Holdings Quarter-end position value decreased by $14.05 million, reflecting both share sales and stock price movement Transaction size represented 0.45% of CoreView's reportable U.S. equity assets under management (AUM) Post-trade stake: 3,120,377 shares valued at $49.18 million KE Holdings now accounts for 6.2% of CoreView's AUM, placing it outside the fund's top five holdings

BEIJING, March 04, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that it will report its unaudited financial results for the fourth quarter and fiscal year 2025 before the U.S. market opens on Monday, March 16, 2026.

BEIJING, March 04, 2026 (GLOBE NEWSWIRE) -- KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE; HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced that it will report its unaudited financial results for the fourth quarter and fiscal year 2025 before the U.S. market opens on Monday, March 16, 2026. The Company's management will hold an earnings conference call at 8:00 A.M.

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