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Ke Holdings Inc (BEKE) fair value: what the stock is really worth

As of Oct 7, 2026: fair value of Ke Holdings Inc $7.20, price $16.92, upside -57.5%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Real Estate · US · Based in China · ISIN US4824971042

KH Ke Holdings Inc logo Broad data Oct 5, 2026

Ke Holdings Inc

BEKE · US

Stretched ValuationStrong overvaluation with only moderate quality.

Low debt
Broad data
Quality 59/100
Expensive Growth (revenue 5y +6.1 %/yr in CNY)
Thin margins · 5.3% net margin (TTM)
1.7% dividend yield · Watch coverage
Mixed vs. peers (6/14)
Moderate moat 45/100
Fair value $7.20 · Strongly overvalued (−57.5%)
Negative free cash flow
Insider activity 30/100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$37.82 $8.35 Fair Value $7.20 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 5, 2026.

How to read this chart

60‑month range $8.35 – $37.82 · fair‑value band $5.40 – $9.00 · the $16.92 price screens above the $7.20 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 5, 2026.

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Company profile

KE Holdings Inc., through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China.

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KE Holdings Inc., through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. The company operates through five segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, Home rental services, and Emerging and Other Services. It operates Beike, an integrated online and offline platform for housing transactions and services; Lianjia, a real estate brokerage brand; Agent Cooperation Network, an operating system that fosters reciprocity and bonding among various service providers. The company also owns the Deyou brand for connected brokerage stores; and other brands. In addition, it offers rental property management and operation services; and contract, secure payment, escrow, and other services. KE Holdings Inc. was founded in 2001 and is headquartered in Beijing, the People's Republic of China.

Stock analysis

Ke Holdings Inc (BEKE) currently trades at $16.92, while our model-based Fair Value estimate is $7.20, 57.5% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $7.39 per share, and 0 of the 9 models we run sit above the $16.92 price.

Bear case: the Asset-Based group reads lowest at $6.30, and 9 of the 9 models stay below the price. Evidence for this calculation is high.

Scenario range: $5.40 (bear) to $9.00 (bull), the price of $16.92 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 59/100 (solid quality), in the Real Estate sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Ke Holdings Inc reported revenue of 94.6B CNY in FY2025 versus 80.8B CNY in FY2021, a compound +4.0%/yr. Reported net income was 3.0B CNY in FY2025.

Key figures

Market cap $18.9B · P/E ratio 26.1 · P/S ratio 0.83 · EPS (TTM) $0.6300 · Dividend yield 1.7% · Net margin 3.2% · Return on equity 7.0% · Return on assets (EBIT) 2.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).

What moves the price

The share trades about 14% below its 52-week high and 19% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at −57%, BEKE screens richer than that median.

Fair Value models

Bear $5.40 Fair Value $7.20 Bull $9.00
Price $16.92 · Upside -57.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income $7.19 $7.29 $7.64 76
EV/EBITDA $9.23 $11.57 $13.92 67
Gordon GGM $3.64 $7.57 $12.01 66
All 9 models by family
Dividend Discount
Gordon GGM $3.64 $7.57 $12.01 66
DDM Multi-Stage $3.64 $6.38 $7.94 66
Multiples
P/S Multiple $5.40 $7.20 $9.00 58
P/B Multiple $5.40 $7.20 $9.00 55
EV/EBIT $8.79 $10.99 $13.20 66
EV/EBITDA $9.23 $11.57 $13.92 67
EV/Revenue $5.83 $7.39 $8.95 54
Asset-Based
NCAV (Graham) $4.70 $6.30 $9.40 54
Economic Profit
Residual Income $7.19 $7.29 $7.64 76

P/S and P/B multiple show the same value here: both are capped by the same earnings anchor (earnings per share times 17), because margin and return on equity do not support the sector multiple.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 59/100

Of which business quality 57 · Market factors (momentum, volatility) 52

Profitability 34
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 83
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+1.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.1%
Start year 2020 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.8%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+3.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+1.6%
Dividend (yield on the price)1.7%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 3%

BEKE screens overvalued: fair value 57% below the price. Compare with Vingroup Joint Stock Company →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate Services · 529 stocks

Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 59 · Above median
Fair Value upside −57.4% · Bottom 25%
Profitability
Return on equity (TTM) 7.0% · Above median
Return on assets 2.6% · Above median
Net margin (TTM) 5.3% · Below median
Operating margin (TTM) 12.3% · Below median
Growth and dividend
Revenue growth −5.7% · Below median
Dividend yield (TTM) 1.7% · Below median
Balance sheet
Debt / equity 0.01× · Lowest 25%

Valuation Multiplesvs Real Estate Services median · lower = cheaper

P/E (TTM) 26.1× · Priciest 25%
P/B 1.91× · Priciest 25%
P/S (TTM) 1.43× · Cheaper than median
EV/EBITDA 18.9× · Pricier than median
PEG 0.39× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 43
FUTURE (revenue growth)0 · sector 19
PAST (return on equity)28 · sector 16
HEALTH (low debt)100 · sector 83
DIVIDEND (yield)34 · sector 62

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Real Estate Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Vonovia SE VNA €16.82 €36.55 +117% vs BEKE
Jones Lang LaSalle Incorporated JLL $308.07 $540.65 +75% vs BEKE
China Resources Mixc Lifestyle Services Limited 1209 HK$37.00 HK$56.36 +52% vs BEKE
Cellnex Telecom, S.A CLNX €23.99 €23.94 +0% vs BEKE
Wharf Real Estate Investment Company 1997 HK$30.54 HK$27.42 −10% vs BEKE
CBRE Group CBRE $134.55 $91.06 −32% vs BEKE
Swire Properties Limited 1972 HK$24.32 HK$13.39 −45% vs BEKE
CoStar Group CSGP $27.38 $6.19 −77% vs BEKE
CapitaLand Investment Limited 9CI 2.60 SGD 0.5600 SGD −78% vs BEKE
Vingroup Joint Stock Company VIC 232,000 VND 25,731 VND −89% vs BEKE

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Ke Holdings Inc · Fair Value
$7.20 −57%Fair Value
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Cite: Fair Value Calculator (2026). "Ke Holdings Inc Fair Value". https://www.fairvalue-calculator.com/stock/BEKE

Frequently asked questions

Is Ke Holdings Inc (BEKE) overvalued or undervalued?
As of Oct 5, 2026, our model estimates a fair value of $7.20 versus a price of $16.92, about −57% upside (overvalued).
What is the fair value of BEKE?
Our model-based fair value for Ke Holdings Inc is $7.20 (as of Oct 5, 2026), built from audited fundamentals. The current price: $16.92.
What is the quality score of BEKE?
Ke Holdings Inc has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ke Holdings Inc (BEKE)?
Our model-based price target is the fair value of $7.20 (as of Oct 5, 2026) from 9 valuation models. Cautious scenario $5.40, optimistic scenario $9.00. It is a calculation from audited fundamentals, not an analyst target.
What is the Ke Holdings Inc stock forecast for 2026?
Our models put fair value at $7.20, about −57% upside versus a price of $16.92 (overvalued). Cautious scenario $5.40, optimistic scenario $9.00. The calculation is refreshed regularly with new filings.
What is the revenue of Ke Holdings Inc (BEKE)?
Ke Holdings Inc reported trailing-twelve-month revenue of about 88.7B CNY (latest available figure, as of Oct 5, 2026).
Does Ke Holdings Inc pay a dividend?
Ke Holdings Inc currently shows a dividend yield of about 1.68% relative to its recent price (as of Oct 5, 2026).
What is the intrinsic value of Ke Holdings Inc (BEKE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ke Holdings Inc it is $7.20 per share (as of Oct 5, 2026), against a price of $16.92. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Ke Holdings Inc stock overvalued or undervalued in 2026?
As of Oct 5, 2026, BEKE trades above its calculated fair value: price $16.92, fair value $7.20, a gap of about −57% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BEKE?
No. The price is what the market pays today ($16.92); the fair value is what the company's own numbers justify ($7.20). For Ke Holdings Inc the two are $9.72 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ke Holdings Inc worth?
The market values Ke Holdings Inc at about $18.9B (market capitalisation, as of Oct 5, 2026). Per share that is $16.92; our models calculate a fair value of $7.20 per share.
What do the bullish and bearish scenarios say about BEKE?
Our models span a range for Ke Holdings Inc: cautious scenario $5.40, base $7.20, optimistic $9.00 per share (as of Oct 5, 2026, price $16.92). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BEKE?
Ke Holdings Inc trades at a price-to-earnings ratio of 26.1 (as of Oct 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $7.20 is built from several models across several years. Other multiples: PEG 0.4, P/B 1.9, P/S 1.4, EV/EBITDA 18.9.
What is the PEG ratio of BEKE?
The PEG ratio of Ke Holdings Inc is 0.39 (P/E divided by earnings growth, as of Oct 5, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Ke Holdings Inc (BEKE)?
Balance-sheet figures for Ke Holdings Inc (as of Oct 5, 2026): return on equity 7.0%, debt of 0.01 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is BEKE from its 52-week high?
Ke Holdings Inc trades at $16.92, about 14% below its 52-week high of $19.59 and 19% above the low of $14.26 (as of Oct 7, 2026). Distance from the high says nothing about value: that is what the fair value of $7.20 is for.
Which stocks are comparable to Ke Holdings Inc?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Swire Properties Limited, Cellnex Telecom, S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ke Holdings Inc stock attractive at the current price?
The data as of Oct 5, 2026: price $16.92, calculated fair value $7.20 (−57%), Quality Score 59/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BEKE calculated?
We run Ke Holdings Inc through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $7.20, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.3 % above its aggregate fair value. Ke Holdings Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ke Holdings Inc (BEKE)?
The closing price on Oct 7, 2026 was $16.92. Our model-based fair value is $7.20, about −57% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ke Holdings Inc right now?
The price sits above even our optimistic bull case ($9.00). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Key figures of Ke Holdings Inc

How large is the market capitalisation of Ke Holdings Inc (BEKE)?
The market capitalisation of Ke Holdings Inc is $18.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ke Holdings Inc (BEKE)?
The price-to-sales ratio of Ke Holdings Inc is 0.83 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ke Holdings Inc (BEKE)?
Earnings per share at Ke Holdings Inc are $0.6300 (price ÷ EPS = P/E 26.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Ke Holdings Inc (BEKE)?
The dividend yield of Ke Holdings Inc is 1.7% (payout 45.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Ke Holdings Inc (BEKE)?
The net margin of Ke Holdings Inc is 3.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ke Holdings Inc (BEKE)?
The return on equity (ROE) of Ke Holdings Inc is 7.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ke Holdings Inc (BEKE)?
On an EBIT basis the return on assets of Ke Holdings Inc is 2.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ke Holdings Inc (BEKE)?
The operating margin of Ke Holdings Inc is 12.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ke Holdings Inc (BEKE)?
Revenue at Ke Holdings Inc is growing −5.7% versus a year earlier (3y avg +16.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ke Holdings Inc (BEKE)?
Earnings per share at Ke Holdings Inc are growing +111% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ke Holdings Inc (BEKE) generate?
The free cash flow of Ke Holdings Inc is −957M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ke Holdings Inc (BEKE) carry?
The net debt of Ke Holdings Inc is 2.8B CNY (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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