Last 26 quarters of trend data · Real Estate · Real Estate - Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
KE Holdings Inc.'s quarterly P/E stands at 51.7x, up 450.2% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has expanded 63.9% YoY to 6.3x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 40.02 | 51.71 | 7.20 | 4.00 | 6.88 | 9.40 | 5.08 | 2.18 | 9.53 | 7.11 | 4.04 | 3.44 | 2.09 |
| — | +450.2% | +41.7% | +83.0% | -27.8% | +32.2% | +25.7% | -36.5% | +355.5% | -38.9% | -44.6% | — | — | |
| P/S Ratio | 1.20 | 0.20 | 0.24 | 0.20 | 0.25 | 0.17 | 0.26 | 0.18 | 0.25 | 0.24 | 0.26 | 0.23 | 0.28 |
| — | +16.2% | -8.5% | +12.1% | +2.1% | -26.9% | -0.1% | -22.9% | -12.5% | -5.0% | -13.8% | -40.5% | -3.5% | |
| P/B Ratio | 1.75 | 0.27 | 0.32 | 0.30 | 0.34 | 0.30 | 0.33 | 0.24 | 0.23 | 0.27 | 0.26 | 0.25 | 0.32 |
| — | -11.1% | -2.5% | +28.1% | +45.9% | +13.8% | +28.6% | -4.8% | -26.4% | +9.6% | -16.1% | -23.0% | +44.1% | |
| P/FCF | — | — | 6.42 | 15.08 | — | 1.04 | 13.03 | 0.87 | — | 5.37 | 2.36 | — | 0.75 |
| — | — | -50.7% | +1631.3% | — | -80.6% | +452.3% | — | — | +137.3% | -10.6% | — | -82.9% | |
| EV / EBITDA | 29.67 | 6.31 | 8.62 | 4.84 | 10.31 | 3.85 | 9.55 | 3.08 | 12.64 | 24.18 | 3.82 | 0.16 | 0.40 |
| — | +63.9% | -9.7% | +57.0% | -18.4% | -84.1% | +149.7% | +1853.5% | +3021.4% | +686.9% | +82.0% | — | — | |
| EV / EBIT | 40.92 | 2.22 | 12.18 | 3.13 | 14.03 | 2.01 | 12.21 | 3.34 | 357.69 | 1.52 | 5.27 | 0.20 | 0.45 |
| — | +10.4% | -0.2% | -6.4% | -96.1% | +32.2% | +131.5% | +1546.5% | +79134.5% | -7.8% | +92.0% | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
KE Holdings Inc.'s operating margin was 2.1% in Q4 2025, down 0.9 pp QoQ and down 3.9 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 3.3% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 6.9% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.4% | 21.4% | 21.4% | 21.9% | 20.7% | 23.0% | 22.7% | 27.9% | 25.2% | 25.5% | 27.4% | 27.4% | 31.3% |
| — | -6.9% | -5.8% | -21.4% | -17.9% | -9.5% | -17.0% | +1.7% | -19.6% | +4.2% | +1.3% | +39.5% | +77.0% | |
| Operating Margin | 3.0% | 2.1% | 3.0% | 5.4% | 2.5% | 6.0% | 3.2% | 8.6% | 0.1% | -0.9% | 5.1% | 5.5% | 14.7% |
| — | -65.5% | -6.7% | -37.0% | +3396.5% | +796.5% | -37.1% | +55.4% | -99.5% | -137.0% | -25.9% | +150.4% | +300.7% | |
| Net Margin | 3.2% | 0.4% | 3.3% | 5.0% | 3.7% | 1.8% | 5.2% | 8.1% | 2.6% | 3.3% | 6.5% | 6.7% | 13.5% |
| — | -78.4% | -37.3% | -38.2% | +39.1% | -44.3% | -20.2% | +20.5% | -80.5% | +43.6% | +59.8% | +149.5% | +375.0% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.3% | 0.1% | 1.1% | 1.9% | 1.2% | 0.8% | 1.7% | 2.7% | 0.6% | 0.9% | 1.6% | 1.8% | 3.9% |
| — | -83.7% | -33.8% | -30.2% | +99.5% | -13.0% | +3.4% | +49.7% | -84.3% | +66.2% | +51.8% | +164.4% | +521.1% | |
| ROA | 2.4% | 0.1% | 0.6% | 1.0% | 0.6% | 0.4% | 1.0% | 1.6% | 0.4% | 0.6% | 1.0% | 1.1% | 2.4% |
| — | -83.3% | -35.4% | -34.7% | +79.9% | -19.9% | -2.8% | +40.9% | -85.1% | +57.7% | +45.6% | +160.6% | +490.4% | |
| ROIC | 2.8% | 0.5% | 0.7% | 1.3% | 0.5% | 1.7% | 0.7% | 2.0% | 0.0% | -0.2% | 1.1% | 1.5% | 3.8% |
| — | -72.6% | -1.8% | -32.9% | +4227.6% | +1028.7% | -37.7% | +35.6% | -99.7% | -138.4% | -27.2% | +178.3% | +412.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
KE Holdings Inc.'s Debt/EBITDA ratio is 22.8x, up from 21.6x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 10.6% YoY to 1.61x, strengthening the short-term liquidity position. Debt/Equity has declined for 4 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.28 | 0.28 | 0.31 | 0.32 | 0.32 | 0.32 | 0.31 | 0.29 | 0.27 | 0.25 | 0.23 | 0.20 | 0.18 |
| — | -12.2% | +1.5% | +11.6% | +20.4% | +27.3% | +31.7% | +41.8% | +48.5% | +41.1% | +44.2% | +47.9% | +54.6% | |
| Debt / EBITDA | 4.75 | 22.79 | 21.57 | 13.46 | 27.79 | 10.62 | 23.33 | 9.09 | 55.42 | 99.01 | 13.22 | 10.24 | 3.93 |
| — | +114.7% | -7.5% | +48.2% | -49.9% | -89.3% | +76.5% | -11.3% | +1311.4% | +531.1% | +88.5% | — | — | |
| Current Ratio | 1.61 | 1.61 | 1.61 | 1.48 | 1.33 | 1.45 | 1.61 | 1.63 | 1.69 | 1.76 | 1.82 | 1.90 | 1.98 |
| — | +10.6% | -0.6% | -9.0% | -21.3% | -17.7% | -11.3% | -14.4% | -14.6% | -16.4% | -12.4% | +1.8% | -8.4% | |
| Quick Ratio | 1.54 | 1.54 | 1.61 | 1.48 | 1.33 | 1.42 | 1.61 | 1.63 | 1.69 | 1.76 | 1.98 | 1.90 | 1.98 |
| — | +8.2% | -0.6% | -9.0% | -21.3% | -19.1% | -18.4% | -14.4% | -14.6% | -16.7% | -4.8% | +1.8% | -8.4% | |
| Interest Coverage | 631.51 | — | — | — | — | 143.38 | — | — | — | 102.83 | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 26 years · Updated daily
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Quick answers to the most common questions about buying BEKE stock.
KE Holdings Inc.'s current P/E is 40.0x. The average P/E over the last 4 quarters is 17.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
KE Holdings Inc.'s current operating margin is 3.0%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking KE Holdings Inc.'s business trajectory between earnings reports.