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20-F

Annual Report (Foreign)

KE Holdings Inc. BEKE

0001104659-26-048109

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Filed
Apr 24, 2026 12:00 AM ET
Period of report
Restated figures. One or more values in this filing restate previously reported amounts.

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 3.47B sh
Shares Diluted FY 2025 · Dec 31, 2024 3.54B sh
Shares Diluted FY 2025 · Dec 31, 2023 3.61B sh
Stock Repurchased FY 2025 · Dec 31, 2025 $941.1M
Stock Repurchased FY 2025 · Dec 31, 2025 ¥6.58B
Stock Repurchased FY 2025 · Dec 31, 2024 ¥5.1B
Stock Repurchased FY 2025 · Dec 31, 2023 ¥5.15B
Dividends Paid FY 2025 · Dec 31, 2025 $412M
Dividends Paid FY 2025 · Dec 31, 2025 ¥2.88B
Dividends Paid FY 2025 · Dec 31, 2024 ¥2.83B
Dividends Paid FY 2025 · Dec 31, 2023 ¥1.43B
Capex FY 2025 · Dec 31, 2025 $86.9M
Capex FY 2025 · Dec 31, 2025 ¥607.73M
Capex FY 2025 · Dec 31, 2024 ¥1.04B
Capex FY 2025 · Dec 31, 2023 ¥873.99M
Operating Cash Flow FY 2025 · Dec 31, 2025 −$53.79M
Operating Cash Flow FY 2025 · Dec 31, 2025 −¥376.17M
Operating Cash Flow FY 2025 · Dec 31, 2024 ¥9.45B
Operating Cash Flow restated FY 2025 · Dec 31, 2023 ¥11.41B
Long Term Debt FY 2025 · Dec 31, 2025 ¥182.92M
Long Term Debt FY 2025 · Dec 31, 2024 ¥0
Short Term Investments FY 2025 · Dec 31, 2025 $5.66B
Short Term Investments FY 2025 · Dec 31, 2025 ¥39.58B
Short Term Investments FY 2025 · Dec 31, 2024 ¥41.32B
Cash And Equivalents FY 2025 · Dec 31, 2025 $1.11B
Cash And Equivalents FY 2025 · Dec 31, 2025 ¥7.77B
Cash And Equivalents restated FY 2025 · Dec 31, 2024 $1.64B
Cash And Equivalents FY 2025 · Dec 31, 2024 ¥11.44B
Cash And Equivalents FY 2025 · Dec 31, 2023 ¥19.63B
Cash And Equivalents FY 2025 · Dec 31, 2022 ¥19.41B
Stockholders Equity FY 2025 · Dec 31, 2025 $9.5B
Stockholders Equity FY 2025 · Dec 31, 2025 ¥66.44B
Stockholders Equity FY 2025 · Dec 31, 2024 ¥71.32B
Current Liabilities FY 2025 · Dec 31, 2025 $6.06B
Current Liabilities FY 2025 · Dec 31, 2025 ¥42.41B
Current Liabilities FY 2025 · Dec 31, 2024 ¥52.74B
Total Liabilities FY 2025 · Dec 31, 2025 $7.17B
Total Liabilities FY 2025 · Dec 31, 2025 ¥50.14B
Total Liabilities FY 2025 · Dec 31, 2024 ¥61.7B
Current Assets FY 2025 · Dec 31, 2025 $9.74B
Current Assets FY 2025 · Dec 31, 2025 ¥68.12B
Current Assets FY 2025 · Dec 31, 2024 ¥76.6B
Total Assets FY 2025 · Dec 31, 2025 $16.68B
Total Assets FY 2025 · Dec 31, 2025 ¥116.67B
Total Assets FY 2025 · Dec 31, 2024 ¥133.15B
Eps Diluted FY 2025 · Dec 31, 2025 $0.12
Eps Diluted FY 2025 · Dec 31, 2025 ¥0.86
Eps Diluted FY 2025 · Dec 31, 2024 ¥1.15
Eps Diluted FY 2025 · Dec 31, 2023 ¥1.63
Eps Basic FY 2025 · Dec 31, 2025 $0.13
Eps Basic FY 2025 · Dec 31, 2025 ¥0.90
Eps Basic FY 2025 · Dec 31, 2024 ¥1.19
Eps Basic FY 2025 · Dec 31, 2023 ¥1.67
Sga Expense FY 2025 · Dec 31, 2025 $1.15B
Sga Expense FY 2025 · Dec 31, 2025 ¥8.08B
Sga Expense FY 2025 · Dec 31, 2024 ¥8.96B
Sga Expense FY 2025 · Dec 31, 2023 ¥8.24B
Rd Expense FY 2025 · Dec 31, 2025 $369.02M
Rd Expense FY 2025 · Dec 31, 2025 ¥2.58B
Rd Expense FY 2025 · Dec 31, 2024 ¥2.28B
Rd Expense FY 2025 · Dec 31, 2023 ¥1.94B
Net Income FY 2025 · Dec 31, 2025 $428.13M
Net Income FY 2025 · Dec 31, 2025 ¥2.99B
Net Income FY 2025 · Dec 31, 2024 ¥4.06B
Net Income FY 2025 · Dec 31, 2023 ¥5.88B
Operating Income FY 2025 · Dec 31, 2025 $301.85M
Operating Income FY 2025 · Dec 31, 2025 ¥2.11B
Operating Income FY 2025 · Dec 31, 2024 ¥3.76B
Operating Income FY 2025 · Dec 31, 2023 ¥4.8B
Gross Profit FY 2025 · Dec 31, 2025 $2.89B
Gross Profit FY 2025 · Dec 31, 2025 ¥20.21B
Gross Profit FY 2025 · Dec 31, 2024 ¥22.94B
Gross Profit FY 2025 · Dec 31, 2023 ¥21.72B
Cost Of Revenue FY 2025 · Dec 31, 2025 $10.63B
Cost Of Revenue FY 2025 · Dec 31, 2025 ¥74.37B
Cost Of Revenue FY 2025 · Dec 31, 2024 ¥70.51B
Cost Of Revenue FY 2025 · Dec 31, 2023 ¥56.06B
Revenue FY 2025 · Dec 31, 2025 $13.52B
Revenue FY 2025 · Dec 31, 2025 ¥94.58B
Revenue FY 2025 · Dec 31, 2024 ¥93.46B
Revenue FY 2025 · Dec 31, 2023 ¥77.78B