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KE Holdings, or Beike, is a large residential real estate sales and rental brokerage company in China. Founded in 2001, the company operates through self-owned Lianjia stores in Beijing and Shanghai and connected third-party agencies including franchise brand Deyou in other cities, with commissions charged on existing-home and new-home transactions. Leveraging an online-offline hybrid model, Beike also attract clients through its namesake online marketplace. The company tapped into home renovation services by acquiring Shengdu Home Decoration in 2022. As of the end of 2024, Beike’s cofounders collectively control the company, while Tencent and its affiliates share 8% of voting power.
2018
116.3K+
LTM Revenue $13.7B
LTM EBITDA $1.0B
$19.8B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
KE Holdings has a last 12-month revenue (LTM) of $13.7B and a last 12-month EBITDA of $1.0B.
In the most recent fiscal year, KE Holdings achieved revenue of $11.9B and an EBITDA of $1.0B.
KE Holdings expects next 12-month revenue of XXX and NTM EBITDA of XXX
See KE Holdings valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $13.7B | XXX | $11.9B | XXX | XXX | XXX |
| Gross Profit | $3.3B | XXX | $2.9B | XXX | XXX | XXX |
| Gross Margin | 24% | XXX | 25% | XXX | XXX | XXX |
| EBITDA | $1.0B | XXX | $1.0B | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | 8% | XXX | XXX | XXX |
| EBIT | $777M | XXX | $593M | XXX | XXX | XXX |
| EBIT Margin | 6% | XXX | 5% | XXX | XXX | XXX |
| Net Profit | $634M | XXX | $519M | XXX | XXX | XXX |
| Net Margin | 5% | XXX | 4% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, KE Holdings's stock price is HKD 50 (or $6).
KE Holdings has current market cap of HKD 179B (or $22.9B), and EV of HKD 155B (or $19.8B).
See KE Holdings trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $19.8B | $22.9B | XXX | XXX | XXX | XXX | $0.29 |
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Start Free TrialAs of May 30, 2025, KE Holdings has market cap of $22.9B and EV of $19.8B.
KE Holdings's trades at 1.7x EV/Revenue multiple, and 19.6x EV/EBITDA.
Equity research analysts estimate KE Holdings's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
KE Holdings has a P/E ratio of 36.1x.
See valuation multiples for KE Holdings and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $22.9B | XXX | $22.9B | XXX | XXX | XXX |
| EV (current) | $19.8B | XXX | $19.8B | XXX | XXX | XXX |
| EV/Revenue | 1.4x | XXX | 1.7x | XXX | XXX | XXX |
| EV/EBITDA | 19.2x | XXX | 19.6x | XXX | XXX | XXX |
| EV/EBIT | 25.4x | XXX | 33.3x | XXX | XXX | XXX |
| EV/Gross Profit | 5.9x | XXX | n/a | XXX | XXX | XXX |
| P/E | 36.1x | XXX | 44.1x | XXX | XXX | XXX |
| EV/FCF | 14.4x | XXX | 18.4x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialKE Holdings's last 12 month revenue growth is 15%
KE Holdings's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $20K for the same period.
KE Holdings's rule of 40 is 27% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
KE Holdings's rule of X is 46% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for KE Holdings and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 15% | XXX | 19% | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | 8% | XXX | XXX | XXX |
| EBITDA Growth | 24% | XXX | -2% | XXX | XXX | XXX |
| Rule of 40 | 27% | XXX | 24% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 46% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $20K | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 8% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 20% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Prosus | XXX | XXX | XXX | XXX | XXX | XXX |
| Just Eat Takeaway.com | XXX | XXX | XXX | XXX | XXX | XXX |
| Marti Technologies | XXX | XXX | XXX | XXX | XXX | XXX |
| Airtasker | XXX | XXX | XXX | XXX | XXX | XXX |
| Articore Group | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
KE Holdings acquired XXX companies to date.
Last acquisition by KE Holdings was XXXXXXXX, XXXXX XXXXX XXXXXX . KE Holdings acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Start Free Trial| When was KE Holdings founded? | KE Holdings was founded in 2018. |
| Where is KE Holdings headquartered? | KE Holdings is headquartered in Hong Kong. |
| How many employees does KE Holdings have? | As of today, KE Holdings has 116.3K+ employees. |
| Who is the CEO of KE Holdings? | KE Holdings's CEO is Mr. Yongdong Peng. |
| Is KE Holdings publicy listed? | Yes, KE Holdings is a public company listed on HKG. |
| What is the stock symbol of KE Holdings? | KE Holdings trades under 02423 ticker. |
| When did KE Holdings go public? | KE Holdings went public in 2022. |
| Who are competitors of KE Holdings? | Similar companies to KE Holdings include e.g. Prosus, Just Eat Takeaway.com, Marti Technologies, Airtasker. |
| What is the current market cap of KE Holdings? | KE Holdings's current market cap is $22.9B |
| What is the current revenue of KE Holdings? | KE Holdings's last 12 months revenue is $13.7B. |
| What is the current revenue growth of KE Holdings? | KE Holdings revenue growth (NTM/LTM) is 15%. |
| What is the current EV/Revenue multiple of KE Holdings? | Current revenue multiple of KE Holdings is 1.4x. |
| Is KE Holdings profitable? | Yes, KE Holdings is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of KE Holdings? | KE Holdings's last 12 months EBITDA is $1.0B. |
| What is KE Holdings's EBITDA margin? | KE Holdings's last 12 months EBITDA margin is 7%. |
| What is the current EV/EBITDA multiple of KE Holdings? | Current EBITDA multiple of KE Holdings is 19.2x. |
| What is the current FCF of KE Holdings? | KE Holdings's last 12 months FCF is $1.4B. |
| What is KE Holdings's FCF margin? | KE Holdings's last 12 months FCF margin is 10%. |
| What is the current EV/FCF multiple of KE Holdings? | Current FCF multiple of KE Holdings is 14.4x. |
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