KE Holdings Inc. (BEKE)

NYSE: BEKE · Real Estate Agents & Managers (For Others) · Beijing, CN · filing with the SEC since 2020

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Grade6.2

◀ Past 7.3● Present 6.5▶ Future 4.8

1 est.

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The grade of KE Holdings Inc.

Nine metrics read from its own filings, by tense

Headline grade

6.2/10

◀ Past7.325% of the headline

● Present6.545% of the headline

▶ Future4.830% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

7.3/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed

7.9/10

Has it survived what it has been through?

No warning events in its filings since 2020.

weight 45% of this tense · 79th percentile among 17 sector filers · read for itself

From the record

KE Holdings Inc.'s filings since 2020 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

5.7/10

What has it actually done, year after year?

+18.6% a year over 8 filed years; profitable in 4 of 8.

weight 33% of this tense · 57th percentile among 17 sector filers · read for its customers

From the record

KE Holdings Inc.'s 8 filed years say what it did: revenue went from CNY 29 billion in fiscal 2018 to CNY 95 billion in fiscal 2025, up 18.6% a year; it rose in 6 of 7 years; the deepest fall was 25% from fiscal 2021 to fiscal 2022; net income was positive in 4 of 8 of those years (its annual reports).

What it rests on

revenue growth over the filed span18.6%top 44% of its family
the share of years revenue rosetop 29% of its family
the share of filed years with a profittop 41% of its family
the deepest fall from a revenue peak24.9%bottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

8.3/10

How has it treated the people who own it?

Share count shrank 0.9% a year. 100% of cash flow returned. Insiders: 2 sales, 0 purchases.

weight 22% of this tense · 83rd percentile among 11 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, KE Holdings Inc.'s diluted share count shrank about 0.9% a year, and dividends and buybacks returned about 100% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 2 sales and 0 purchases of their own stock on the open market in the year to 2026-10-22 (their Form 4 filings).

What it rests on

the share count over the yearstop 17% of its family
cash returned against operating cash flowtop 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.5/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

7.0/10

Is it financially healthy right now?

ROE 5%: 5¢ of profit per shareholder dollar. Leverage 43%: owes 43¢ per asset dollar.

weight 33% of this tense · 70th percentile among 16 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, KE Holdings Inc. earned about 5 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 17 cents per dollar of everything the company owns. Leverage: it owed about 43 cents per dollar of assets, and net share issuance: its share count shrank 1.8% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 21% of its family
return on equitytop 30% of its family
gross profit against assetsbottom 39% of its family
the share count against the year beforetop 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

7.3/10

How strong is its position in its industry?

top 26% of 17 in its family; net margin 3.2%.

weight 45% of this tense · 74th percentile among 17 sector filers · read for its customers

From the record

KE Holdings Inc.'s standing among 17 graded names in its industry family: revenue of CNY 95 billion in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of 3.2% ranks in the top 21%; revenue growth of 15.9% a year over the last 3 filed years ranks in the top 32% (its annual reports).

What it rests on

net margin3.2%top 21% of its family
three-year revenue growth15.9%top 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.3/10

What are the people in charge doing?

SI estimate 4.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 12 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 12 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 12 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: KE Holdings Inc.'s leadership is put at 4.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-17 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 12 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.8/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.7/10

How much room does it have to grow?

top 43% of 17 in its family for room to expand.

weight 33% of this tense · 57th percentile among 17 sector filers · read for itself

From the record

KE Holdings Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of CNY 7.8 billion against debt of CNY 183 million leaves 6.5% of its assets as net cash, bottom 32% of its family; cash from operations less capital spending is -1% of revenue (bottom 32%); a gross margin of 21.4% (top 17%); research spending of 2.7% of revenue (top 21%) (its annual report).

What it rests on

cash less debt against assets6.5%bottom 32% of its family
cash from operations less capital spending against revenue-1.0%bottom 32% of its family
gross margin21.4%top 17% of its family
research spending against revenue2.7%top 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

5.0/10

What could actually drive growth from here?

top 50% of 17 in its family for growth drivers.

weight 33% of this tense · 50th percentile among 17 sector filers · read for its customers

From the record

KE Holdings Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 15.9% a year over the last three filed years against 18.6% over all 8, slowing (top 26% of its family); the newest year grew 1.2% (bottom 21%); research spending grew 0.5% a year (top 44%); capital spending grew -8.5% a year (top 50%) (its annual reports). KE Holdings Inc. reported 5 lines of business in fiscal 2025: New Home Transaction Services at CNY 31 billion (32%), Existing Home Transaction Services at CNY 25 billion (27%), Home Transaction Services at CNY 22 billion (23%), and 2 more; 2 of 5 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span-2.7 points a yeartop 26% of its family
the newest year's revenue growth1.2%bottom 21% of its family
three-year growth of research spending0.5%top 44% of its family
three-year growth of capital spending-8.5%top 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

3.7/10

Did its newest year beat what its own record pointed to?

bottom 37% of 15 in its family for expectations against reality.

weight 33% of this tense · 37th percentile among 15 sector filers · read for its shareholders

From the record

KE Holdings Inc.'s newest year against its own record: revenue of CNY 95 billion in fiscal 2025 came in 18.4% below the CNY 116 billion its prior three years' pace pointed to (bottom 17% of its family); net income of CNY 3.0 billion against a prior three-year average of CNY 2.9 billion (bottom 43%); a net margin of 3.2% against 3.2% before (top 50%) (its annual reports).

What it rests on

revenue against the prior three years' pace-18.4%bottom 17% of its family
net income against the prior three years' average+5%bottom 43% of its family
net margin against its prior average+0.0 pointstop 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BEKE · research, not advice