Beike Reports Q4 Revenue of RMB 22.2B
Reports Q4 revenue RMB22.2B vs. RMB31.1B last year. Stanley Yongdong Peng, Chairman of the Board and Chief Executive Officer of Beike, commented, "In 2025, in response to the profound evolution of residential service demands, we centered our efforts on customer value and drove a strategic upgrade toward efficiency-driven growth. In our home transaction services, we leveraged data and AI capabilities to reshape our service and business models, consistently enhancing the platform's professional service competencies and operational efficiency. In our home renovation and furnishing and home rental services, we focused on improving the quality of profitability and establishing sustainable, replicable operating models, bringing both businesses into a healthier stage of development. Looking ahead, we believe that the true ability to navigate market cycles stems not from scale itself, but from the capacity to consistently create genuine value for consumers. In 2026, we will respond more profoundly to customer needs, building systematic service capabilities that span the residential lifecycle. Meanwhile, we will leverage AI technology to reconstruct our competitive moats, further amplifying the professional value of service providers and platform efficiency, and ultimately elevating the living experience for consumers through higher-quality services," concluded Mr. Peng.
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- Significant Revenue Decline: KE Holdings reported total revenue of RMB 23.3 billion in Q4 2025, down 28.7% year-on-year, indicating severe market challenges that may negatively impact investor confidence moving forward.
- Sharp Net Profit Drop: GAAP net profit fell to RMB 323 million, an 85.7% year-on-year decline, while non-GAAP net profit decreased by 61.5% to RMB 517 million, reflecting pressure from one-off expenses related to cost optimization that affected overall profitability.
- Business Structure Adjustment: The company achieved a record 41% revenue share from non-housing construction, demonstrating successful diversification despite a 36.7% decline in overall GTV, while an optimized cost structure enhanced profit elasticity.
- Shareholder Return Plan: KE Holdings announced a cash dividend plan of approximately USD 300 million for 2025, with total shareholder returns expected to reach around USD 1.22 billion, a year-on-year increase of about 9%, indicating a commitment to shareholder interests even in adversity.
- Dividend Declaration: KE Holdings has declared a final cash dividend of $0.276 per ADS, payable on April 24, reflecting the company's financial stability and commitment to shareholder returns.
- Record Date for Shareholders: The record date for this dividend is set for April 8, with the ex-dividend date also on April 8, ensuring that eligible shareholders receive their dividends promptly, which may enhance investor confidence.
- Total Dividend Amount: The aggregate dividend payout is approximately $0.3 billion, funded by the company's cash surplus, indicating KE Holdings' strong cash flow and effective financial management.
- Market Reaction Expectations: With the dividend announcement, market interest in KE Holdings may increase, prompting investors to reassess the stock's attractiveness, potentially impacting its price performance.
- Disappointing Earnings: KE Holdings reported a non-GAAP EPS of $0.07 for Q4, missing expectations by $0.04, indicating ongoing pressure on profitability that may affect investor confidence.
- Significant Revenue Decline: The company's Q4 revenue of $3.2 billion represents a 28.7% year-over-year decrease, falling short of expectations, reflecting weak market demand and intensified competition that could pressure future performance.
- Cash Reserves Status: As of December 31, 2025, the combined balance of cash, cash equivalents, restricted cash, and short-term investments amounted to RMB 55.5 billion (approximately $7.9 billion), providing the company with financial flexibility to navigate market challenges.
- Investor Movements: Baron Emerging Markets Fund added AGRPY and FANDY while exiting GFI and BEKE in Q4, indicating a decline in investor confidence in KE Holdings, which may impact its stock performance.
- Earnings Announcement: KE Holdings (BEKE) is set to announce its Q4 earnings on March 16 before market open, with consensus EPS estimate at $0.11, reflecting a 31.3% year-over-year decline, and revenue estimate at $3.23 billion, down 24.9% year-over-year, indicating significant market challenges ahead.
- Historical Performance: Over the past two years, BEKE has beaten EPS estimates 88% of the time and revenue estimates 63% of the time, although recent downward revisions in EPS and revenue forecasts suggest a weakening market confidence in the company's future performance.
- Estimate Revisions: In the last three months, there have been no upward revisions to EPS estimates and two downward revisions, while revenue estimates saw one upward revision and three downward revisions, reflecting analysts' cautious outlook on the company's upcoming results.
- Investment Moves: Baron Emerging Markets Fund adjusted its Q4 portfolio by adding AGRPY and FANDY while exiting GFI and BEKE, indicating a potential decrease in confidence regarding KE Holdings' market performance, which could impact its stock price.
- Earnings Release Announcement: KE Holdings Inc. is set to release its fourth-quarter earnings before the market opens on March 16, with analysts projecting earnings of 6 cents per share and revenue of $3.09 billion, providing crucial insights into the company's financial health.
- Q3 Performance: On November 10, KE Holdings reported better-than-expected third-quarter financial results, demonstrating resilience and growth potential in the market, although its stock price fell 3.4% to close at $16.45 on Thursday.
- Market Reaction: Despite the strong Q3 performance, KE Holdings' stock price remains under pressure, reflecting market caution regarding the upcoming earnings report, which could impact investor confidence and short-term price volatility.
- Analyst Ratings: The latest analyst ratings from Benzinga allow investors to evaluate KE Holdings' investment value based on stock ticker, company name, and rating changes, aiding them in making more informed investment decisions.
- Share Reduction Details: CoreView Capital Management sold 207,358 shares of KE Holdings in Q4 2026, resulting in a $14.05 million decrease in position value, reflecting both trading activity and stock price fluctuations.
- Stake Proportion Change: CoreView now holds 3,120,377 shares valued at $49.18 million, accounting for 6.2% of its reportable U.S. equity assets under management, thus falling outside its top five holdings.
- Market Performance Analysis: As of February 16, 2026, KE Holdings' stock price was $17.55, down 12.4% over the past year, underperforming the S&P 500 by 24.17 percentage points, indicating market concerns regarding its future growth.
- Business Model Overview: KE Holdings integrates online and offline real estate services through its Beike platform, connecting buyers, sellers, and agents; despite a complex market environment, its technology-driven solutions enhance transaction efficiency and drive business growth.









