KE Holdings Inc.

	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18	Dec-17
Total revenue	94.58	93.46	77.78	60.67	80.75	70.48	46.01	28.65	25.51
Cost of revenue	74.37	70.51	56.06	46.89	64.93	53.62	34.75	21.78	20.74
Gross profit	20.21	22.94	21.72	13.78	15.82	16.86	11.27	6.87	4.77
Total operating expenses +	17.38	18.30	16.07	13.80	15.37	14.02	13.05	8.09	5.53
Selling, general and administrative	8.08	8.96	8.24	7.35	8.92	7.59	8.38	4.93	4.28
Research and development	2.58	2.28	1.94	2.55	3.19	2.48	1.57	0.67	0.25
Other operating expenses	6.73	7.05	5.89	3.91	3.25	3.95	3.11	2.49	1.00
Operating income	2.83	4.65	5.65	-0.02	0.45	2.84	-1.79	-1.22	-0.76
Non-operating income (net)	1.85	2.22	2.23	0.31	0.69	1.55	0.51	0.72	0.63
Income before tax	4.68	6.87	7.88	0.29	1.14	4.39	-1.28	-0.50	-0.14
Income tax expense	1.69	2.79	1.99	1.69	1.67	1.61	0.90	-0.07	0.40
Net income	2.99	4.06	5.88	-1.39	-0.52	2.78	-2.18	-0.47	-0.57

Show Quarterly Income Statement

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19
Total revenue	18.89	21.88	23.05	26.01	23.33	31.13	22.58	23.37	16.38	20.20	17.81	19.48	20.28	20.28	17.60	13.78	12.55	17.79	18.10	24.17	20.70	22.67	20.55	20.14	7.12	14.38	12.02	11.45	8.16
Cost of revenue	14.33	17.19	18.12	20.31	18.51	23.95	17.45	16.85	12.26	15.06	12.93	14.14	13.93	13.93	12.84	11.07	10.33	14.87	15.34	18.84	15.88	17.25	16.17	13.59	6.62	11.63	9.08	7.97	6.06
Gross profit	4.56	4.69	4.94	5.70	4.82	7.17	5.13	6.52	4.12	5.14	4.88	5.34	6.35	6.35	4.76	2.71	2.22	2.92	2.75	5.33	4.82	5.42	4.38	6.55	0.50	2.75	2.94	3.48	2.10
Total operating expenses +	3.29	4.83	4.24	4.29	4.23	6.16	4.41	4.50	4.11	4.50	3.97	4.26	3.37	3.37	3.54	4.23	3.14	4.10	5.05	4.22	3.80	3.92	4.46	3.26	2.13	5.87	2.54	2.64	2.00
Selling, general and administrative	1.71	4.18	1.87	2.08	1.87	2.96	1.90	2.08	2.02	2.65	1.86	2.11	1.62	1.62	1.78	2.25	1.53	2.20	2.41	2.20	2.11	1.88	2.65	1.95	1.11	4.56	1.37	1.39	1.05
Research and development	0.49	0.71	0.65	0.63	0.58	0.74	0.57	0.50	0.47	0.53	0.47	0.47	0.46	0.46	0.51	0.78	0.75	0.74	1.04	0.77	0.64	0.71	0.79	0.52	0.45	0.48	0.44	0.34	0.31
Other operating expenses	1.08	-0.06	1.73	1.57	1.77	2.46	1.93	1.92	1.62	1.32	1.64	1.68	1.29	1.29	1.26	1.20	0.86	1.16	1.60	1.24	1.06	1.32	1.03	0.79	0.58	0.83	0.74	0.90	0.63
Operating income	1.27	-0.14	0.69	1.41	0.59	1.01	0.73	2.02	0.01	-0.17	0.91	1.08	2.98	2.98	1.22	-1.52	-0.92	-1.18	-2.30	1.12	1.01	1.27	-0.08	3.29	-1.63	-3.12	0.40	0.84	0.10
Non-operating income (net)	0.56	0.42	0.60	0.30	0.79	0.60	0.94	0.73	0.83	0.93	0.76	0.49	0.90	0.90	-0.06	0.08	0.49	0.52	0.74	0.77	0.47	0.55	0.42	0.33	0.25	0.01	0.30	0.04	0.16
Income before tax	1.83	0.28	1.30	1.72	1.38	1.61	1.67	2.75	0.84	0.76	1.67	1.57	3.88	3.88	1.16	-1.43	-0.43	-0.66	-1.56	1.88	1.48	1.81	0.33	3.62	-1.38	-3.12	0.70	0.88	0.26
Income tax expense	0.58	0.19	0.55	0.41	0.53	1.03	0.50	0.85	0.41	0.09	0.50	0.27	1.13	1.13	0.44	0.43	0.19	0.27	0.20	0.77	0.42	0.72	0.26	0.78	-0.15	0.00	0.32	0.49	0.09
Net income	1.26	0.09	0.75	1.30	0.86	0.57	1.17	1.89	0.43	0.66	1.16	1.31	2.75	2.75	0.72	-1.87	-0.62	-0.93	-1.77	1.11	1.06	1.09	0.07	2.84	-1.23	-3.12	0.38	0.39	0.17

about 10 hours ago

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	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18	Dec-17
Total cash and short-term investments +	55.56	52.76	53.89	54.90	49.85	56.66	26.16	11.64	12.82
Cash and cash equivalents	15.95	11.44	19.63	19.41	20.45	40.97	24.32	9.12	5.24
Short-term investments	39.61	41.32	34.26	35.49	29.40	15.69	1.84	2.52	7.59
Accounts receivable, net	5.61	10.53	3.27	4.20	9.34	13.20	8.11	3.35	2.67
Inventories	2.86	1.61	0.30	0.13	0.02	12.97	11.63	4.63	6.14
Other current assets	4.14	11.70	12.29	11.20	10.72	4.71	6.00	7.75	2.44
Total current assets	68.16	76.60	69.75	70.42	69.93	87.54	51.91	27.37	24.07
Total non-current assets +	48.58	56.55	50.58	38.92	30.39	16.76	15.35	11.49	7.51
Property, plant and equipment, net				13.32	9.22	8.29	6.76	6.09	6.00
Goodwill	4.66	4.78	4.86	4.93	1.81	2.47	2.48	1.14	0.71
Intangible assets	0.72	1.25	1.31	1.69	1.14	1.64	2.59	0.20	0.26
Long-term investments	20.15	23.79	23.57	17.93	17.04	3.14	2.33	0.42	0.38
Other non-current assets
Total assets	116.74	133.15	120.33	109.35	100.32	104.30	67.27	38.87	31.58

Total current liabilities +	42.43	52.74	39.52	33.34	28.94	33.63	27.80	20.57	16.05
Accounts payable	6.06	9.49	6.33	5.84	5.74	6.44	4.03	1.41	0.36
Short-term debt	11.37	14.02	9.66	5.59	3.21	4.14	5.23	3.06	3.10
Current portion of long-term debt	0.71	0.29	0.29	0.62	0.45	1.51	3.01	1.14	1.38
Deferred revenue
Other current liabilities	19.31	27.77	22.50	18.07	18.29	21.33	16.55	15.09	11.36
Total non-current liabilities +	7.48	8.96	8.61	6.95	4.33	3.87	7.93	3.43	3.10
Long-term debt	0.44					0.02	4.90	0.11
Capital lease obligations	17.63	22.37	17.70	11.57	7.06	6.46	5.14	4.71	4.30
Other non-current liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.10
Total liabilities	49.91	61.70	48.13	40.29	33.26	37.50	35.73	24.01	19.14

Total stockholders' equity +	66.48	71.32	72.10	68.92	66.97	66.77	31.45	14.85	12.37
Common stock and paid-in capital	65.34	73.05	77.77	80.33	76.82	75.99	43.22	22.84	17.74
Retained earnings	1.14	-1.72	-5.67	-11.41	-9.84	-9.23	-11.78	-7.99	-5.37
Common shares outstanding	1,157	1,179	1,204	1,190	1,183	1,161	1,143	1,189	1,143

Show Quarterly Balance Sheet

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19
Total cash and short-term investments +	53.69	55.56	48.99	44.98	44.65	52.76	53.23	51.63	53.88	53.89	54.25	54.70	58.73	58.73	51.67	43.02	43.41	49.85	45.12	48.43	49.08	56.66	51.20	30.95	23.25	26.16	0.00	0.00	11.64
Cash and cash equivalents	19.90	15.95	9.22	11.12	12.77	11.44	9.58	9.41	17.85	19.63	15.84	31.75	30.59	30.59	18.95	12.38	16.58	20.45	21.78	30.54	26.88	40.97	38.05	25.08	15.54	24.32			-11.64
Short-term investments	33.78	39.61	39.77	33.86	31.88	41.32	43.65	42.22	36.03	34.26	38.41	22.95	28.14	28.14	32.71	30.64	26.83	29.40	23.34	17.88	22.21	15.69	13.16	5.87	7.71	1.84			23.28
Accounts receivable, net	6.60	5.61	12.69	4.52	5.14	5.50	10.20	10.91	3.20	3.27	2.77	9.41	4.55	10.16	9.62	5.70	7.04	9.34	10.52	13.83	12.97	17.64	10.84	10.00	7.32	8.11	13.19
Inventories	2.79	2.86		2.59	1.61	0.52		-7.00	0.30	0.30	-6.00	-1.08	0.13	-1.37	0.13		9.04	0.02			12.97	12.97	0.00	12.13	10.46	11.63
Other current assets	3.76	4.14	6.74	18.26	20.38	18.34	6.24	15.12	13.47	12.38	18.16	6.06	13.48	13.48	5.85	11.70	11.03	10.72	14.67	20.07	23.01	0.28	13.65	3.84	5.36	6.00	12.12
Total current assets	66.83	68.16	68.43	67.76	70.17	76.60	69.68	70.66	70.54	69.75	69.17	70.17	76.76	76.76	67.13	60.42	61.48	69.93	70.31	82.33	85.06	87.54	75.70	56.93	46.38	51.91	51.91		11.64
Total non-current assets +	45.06	48.58	50.87	55.93	60.45	56.55	53.12	51.84	48.48	50.58	49.21	47.24	41.21	41.21	40.85	43.95	37.83	30.39	31.83	25.23	21.89	16.76	15.28	15.08	14.86	15.35			-11.64
Property, plant and equipment, net											17.97	15.88		13.32	12.34	10.63	9.17	9.22	9.76	9.67	9.21	8.29	7.39	6.91	6.70	6.76	6.76
Goodwill	4.64	4.66	4.66	4.75	4.78	4.78	4.84	4.85	4.89	4.86	4.91	4.91	4.94	4.94	5.00	4.98	1.99	1.81	2.11	2.50	2.47	2.47	2.49	2.49	2.48	2.48
Intangible assets	0.69	0.72	0.76	0.79	0.82	0.86	0.95	0.93	0.96	1.31	1.23	1.39	1.52	1.52	1.86	1.97	1.02	1.14	1.28	1.40	1.53	1.64	2.06	2.29	2.43	2.59
Long-term investments	19.82	20.15	19.67	23.46	27.62	23.79	21.46	22.13	20.66	23.57	24.03	24.01	19.41	17.93	20.61	25.33	24.47	17.04	17.65	10.53	7.50	3.14	2.46	2.47	2.35	2.33
Other non-current assets
Total assets	111.90	116.74	119.30	123.69	130.61	133.15	122.80	122.50	119.02	120.33	118.38	117.42	117.97	117.97	107.99	104.37	99.30	100.32	102.14	107.56	106.95	104.30	90.97	72.01	61.24	67.27

Total current liabilities +	40.89	42.43	42.61	45.72	52.76	52.74	43.15	43.38	41.76	39.52	37.97	36.86	38.78	38.78	32.29	32.30	28.45	28.94	29.39	33.52	33.93	33.63	31.73	30.18	22.88	27.80	27.80
Accounts payable	4.98	6.06	5.96	6.92	7.87	9.49	6.39	6.68	5.65	6.33	5.50	5.81	6.26	6.26	5.52	5.49	4.96	5.74	5.31	6.05	5.41	6.59	6.30	5.02	3.40	4.03	4.48
Short-term debt	9.71	11.37	12.68	13.16	13.76	14.02	13.21	12.08	10.74	9.66	8.61	7.25	6.17	6.17	4.99	3.97	3.49	3.21	3.54	3.48	3.44	4.14	5.42	5.09	4.49	5.23
Current portion of long-term debt	0.82	0.71	0.66	0.20	0.18	0.29	0.31	0.45	0.41	0.29	0.52	0.50	0.50	0.62	0.60	0.49	0.58	0.45	0.66	0.58	0.59	1.51	2.98	2.77	2.19	3.01
Deferred revenue
Other current liabilities	20.05	19.31	17.84	25.64	23.72	29.23	17.71	38.38	19.82	22.50	18.37	18.31	20.50	37.49	17.83	19.44	18.24	18.29	19.25	22.72	23.55	22.17	18.99	18.66	13.99	16.50	8.58
Total non-current liabilities +	6.81	7.48	8.74	9.13	8.90	8.96	8.75	8.42	8.14	8.61	8.44	7.77	7.22	7.22	6.45	5.41	4.33	4.33	4.59	4.58	4.52	3.87	8.12	8.04	7.98	7.93
Long-term debt	0.78	0.44	0.14	0.06																0.01	0.01	0.02	4.71	4.89	4.89	4.90
Capital lease obligations	14.68	17.63	20.30	21.71	22.16	22.37	21.37	19.77	18.19	17.70	16.19	14.18	12.53	11.57	10.55	8.59	7.21	7.06	7.46	7.45	7.26	6.46	5.74	5.37	5.18	5.14
Other non-current liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.08	0.09	0.19	0.10
Total liabilities	47.71	49.91	51.36	54.85	61.66	61.70	51.90	51.79	49.90	48.13	46.42	44.63	46.00	46.00	38.75	37.71	32.77	33.26	33.99	38.10	38.46	37.50	39.84	38.22	30.86	35.73

Total stockholders' equity +	64.13	66.48	67.84	68.71	68.83	71.32	70.77	70.57	68.99	72.10	71.86	72.70	71.83	71.83	69.11	66.53	66.42	66.97	68.10	69.40	68.47	66.77	51.10	33.76	30.30	31.45			14.86
Common stock and paid-in capital	62.09	65.34	66.66	67.35	69.70	72.12	72.95	73.92	74.23	77.77	78.05	80.05	80.49	80.49	80.71	78.86	76.88	76.82	76.92	76.46	76.64	75.99	61.29	43.77	43.40	43.22	11.52	0.00	14.86
Retained earnings	2.05	1.14	1.18	1.36	-0.87	-0.80	-2.18	-3.35	-5.24	-5.67	-6.19	-7.35	-8.66	-8.66	-11.61	-12.33	-10.46	-9.84	-8.82	-7.07	-8.17	-9.23	-10.18	-10.00	-13.10	-11.78	-11.52
Common shares outstanding	1,134	1,138	1,150	1,169	1,174	1,175	1,175	1,223	1,181	1,186	1,190	1,211	1,217	1,217	1,208	1,191	1,189	1,186	1,178	1,196	1,197	1,172	1,143	1,143	1,143	1,143	1,143	1,143	1,143

about 10 hours ago

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	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18	Dec-17
Operating cash flow +	-0.37	9.45	11.16	8.46	3.60	9.36	0.11	3.22	-6.46
Net income
Depreciation, depletion and amortization	1.04	1.01	1.40	1.50	1.37	1.17	1.04	0.79	0.81
Stock-based compensation	1.90	2.73	3.22	2.43	1.54	2.25	2.96	0.38	0.48
Change in inventory	-1.22	-1.31	-0.18		-1.02	4.26	-0.46	1.78	-4.18
Other working capital changes	-2.10	7.01	6.72	4.53	1.70	1.67	-3.42	0.26	-3.57
Cash flow from investing +	5.73	-9.38	-3.98	-8.47	-24.88	-14.98	-3.87	2.61	-2.78
Capital expenditures	-0.59	-1.04	-0.87	-0.79	-1.43	-0.89	-0.70	-0.54	-0.58
Others incl. marketable securities changes	6.32	-8.34	-3.10	-7.68	-23.45	-14.09	-3.17	3.15	-2.21
Cash flow from financing +	-9.53	-5.79	-6.96	-1.15	-1.07	25.41	23.03	-1.28	9.58
Dividend payout	-2.80	-2.83	-1.43	-0.06	-0.08	-0.04	-28.01	0.00	-0.13
Common stock repurchases	-6.40	-5.10	-5.15	-1.32	0.00	0.04	-2.76	-0.31	0.00
Net Debt Issuance	-0.32	2.14	-0.39	0.22	-1.00	25.41	53.80	-0.98	9.70

Change in cash	-4.16	-5.73	0.22	-1.17	-22.36	19.79	19.27	4.54	0.34

Show Quarterly Cash Flow

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19
Operating cash flow +	1.85	1.91	0.85	0.83	-3.97	5.20	0.45	4.77	-0.92	1.77	1.96	-0.20	7.63	7.63	2.65	2.97	0.83	1.28	-1.16	1.00	2.47	1.10	3.21	9.13	-4.09	-0.63	1.26	0.48	-1.00
Net income
Depreciation, depletion and amortization	0.35		0.29	0.22	0.21	0.28		0.21	0.32	0.35	0.35	0.35	0.34	0.34	1.50	0.38	0.35	1.37	0.35	0.33	0.29	0.63	0.30	0.27	0.27	0.29	0.31	0.28	0.15
Stock-based compensation			0.45	0.49	0.53	0.60		0.73	0.79	0.82	0.81	0.88	0.70	0.70	2.43	0.61	0.35	1.54	0.35	0.44	0.43	2.25	1.67			2.85	0.06	0.05
Change in inventory																					-1.21	-1.21		4.87	-0.13			-0.62	0.79
Other working capital changes	1.50	1.91	0.12	0.12	-4.71	4.33	0.45	3.83	-2.03	0.60	0.79	-1.43	6.58	6.58	-1.28	1.98	0.13	-1.63	-1.85	0.23	2.96	-0.57	1.24	3.99	-4.23	-3.77	0.89	0.77	-1.95
Cash flow from investing +	-1.06		-0.94	1.66	6.29		-0.52	-8.13	1.29	3.71	-15.32	2.06	5.58	-0.98	3.85	-7.08	-4.26	-3.52	-10.96	1.12	-11.51	-5.61	-6.95	2.75	-5.18	-2.37	0.13	-1.29	-0.35
Capital expenditures	-1.85	0.00	0.00	-0.48	-1.04	0.00	0.00	-0.46	-0.87	-0.87	-0.87	0.00	-0.79	-0.79	-0.79	0.00	-1.43	-1.43	-1.43	-1.43	-0.59	-0.59	-0.57	-0.15	-0.15	-0.17	-0.12	-0.29	-0.12
Others incl. marketable securities changes	0.79	0.00	-0.94	2.15	7.32	0.00	-0.52	-7.67	2.16	4.59	-14.45	2.06	6.37	-0.19	4.64	-7.08	-2.83	-2.09	-9.53	2.55	-10.92	-5.02	-6.38	2.90	-5.03	-2.20	0.26	-1.00	-0.23
Cash flow from financing +	-0.71		-3.16	-6.18	0.26	1.11	-1.59	-3.93	-1.45	-1.48	-2.61	-2.54	-0.33	-0.33	-0.91	-0.09	0.13	-0.20	0.07	-0.01	-0.93	9.41	16.57	0.33	-0.90	19.19	-2.22	2.12	3.93
Dividend payout				-2.88	-2.83			-2.83	-1.43	-1.43	-1.43		-0.06	-0.06	-0.06		-0.08	-0.08			-0.04	-0.04
Common stock repurchases				-2.83	-5.10			-2.70	-5.15	-5.15	-5.15		-1.32		-1.32									0.00	0.00		-0.14	-0.21	-2.41
Net Debt Issuance	-0.71	0.00	-3.16	-0.47	8.19	1.11	-1.59	1.60	5.13	5.10	3.96	-2.54	1.04	-0.28	0.46	-0.09	0.21	-0.13	0.07	-0.01	-0.89	9.45	16.57	0.33	-0.90	19.19	-2.08	2.33	6.35

Change in cash	0.08	1.91	-3.26	-3.69	2.58	6.31	-1.66	-7.29	-1.07	4.00	-15.98	-0.68	12.87	6.31	5.58	-4.20	-3.29	-2.45	-12.05	2.11	-9.97	4.91	12.83	12.21	-10.16	16.20	-0.83	1.31	2.59

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KE Holdings Inc.

Income Statement - KE Holdings Inc. (BEKE)

Income Statement - KE Holdings Inc. (BEKE)

Balance Sheet - KE Holdings Inc. (BEKE)

Balance Sheet - KE Holdings Inc. (BEKE)

Cash Flow - KE Holdings Inc. (BEKE)

Cash Flow - KE Holdings Inc. (BEKE)