KE Holdings Inc.

DB:KE8A Stock Report

Market Cap: €22.2b

KE Holdings Valuation

Is KE8A undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of KE8A when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: KE8A (€17.9) is trading below our estimate of fair value (€36.26)

Significantly Below Fair Value: KE8A is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for KE8A?

Key metric: As KE8A is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for KE8A. This is calculated by dividing KE8A's market cap by their current earnings.
What is KE8A's PE Ratio?
PE Ratio38.4x
EarningsCN¥4.16b
Market CapCN¥168.67b

Price to Earnings Ratio vs Peers

How does KE8A's PE Ratio compare to its peers?

The above table shows the PE ratio for KE8A vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average81.2x
CSGP CoStar Group
187.6x42.5%US$32.7b
CBRE CBRE Group
43.5x20.7%US$40.7b
JLL Jones Lang LaSalle
28.2x17.7%US$12.5b
SPB Sedlmayr Grund und Immobilien
65.6xn/a€903.2m
KE8A KE Holdings
38.4x20.4%€23.3b

Price-To-Earnings vs Peers: KE8A is good value based on its Price-To-Earnings Ratio (38.4x) compared to the peer average (81.2x).

Price to Earnings Ratio vs Industry

How does KE8A's PE Ratio compare vs other companies in the European Real Estate Industry?

22 CompaniesPrice / EarningsEstimated GrowthMarket Cap
KE8A 38.4xIndustry Avg. 18.0xNo. of Companies30PE01224364860+
22 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: KE8A is expensive based on its Price-To-Earnings Ratio (38.4x) compared to the European Real Estate industry average (18.2x).

Price to Earnings Ratio vs Fair Ratio

What is KE8A's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KE8A PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio38.4x
Fair PE Ratio24.2x

Price-To-Earnings vs Fair Ratio: KE8A is expensive based on its Price-To-Earnings Ratio (38.4x) compared to the estimated Fair Price-To-Earnings Ratio (24.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst KE8A forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€17.90
€24.11
+34.7%
15.1%€31.44€16.96n/a21
Nov ’25€20.60
€21.72
+5.5%
18.7%€31.54€14.72n/a21
Oct ’25€18.70
€19.75
+5.6%
12.5%€27.63€14.74n/a21
Sep ’25€13.30
€19.38
+45.7%
12.3%€27.39€14.61n/a20
Aug ’25€12.70
€19.81
+56.0%
13.6%€27.81€13.90n/a19
Jul ’25€13.00
€19.89
+53.0%
13.4%€28.01€14.00n/a20
Jun ’25€15.80
€19.71
+24.8%
13.3%€27.74€13.86n/a20
May ’25€14.20
€19.24
+35.5%
17.4%€28.38€14.04n/a20
Apr ’25€12.50
€18.90
+51.2%
17.4%€27.89€13.80n/a20
Mar ’25€12.40
€21.74
+75.4%
15.2%€29.89€15.75n/a20
Feb ’25€12.90
€22.22
+72.2%
14.8%€30.08€15.95n/a21
Jan ’25€14.60
€22.09
+51.3%
14.8%€29.75€15.77n/a21
Dec ’24€14.50
€22.28
+53.6%
14.4%€29.90€15.85n/a22
Nov ’24€13.80
€22.79
+65.2%
12.5%€29.14€18.26€20.6021
Oct ’24€14.80
€23.00
+55.4%
12.5%€29.38€18.41€18.7021
Sep ’24€15.80
€22.59
+43.0%
11.9%€29.10€18.56€13.3021
Aug ’24€15.90
€22.18
+39.5%
11.8%€28.61€17.69€12.7021
Jul ’24€13.30
€22.45
+68.8%
11.8%€28.81€17.82€13.0020
Jun ’24€13.70
€23.22
+69.5%
11.6%€29.95€18.52€15.8021
May ’24€13.90
€22.49
+61.8%
9.8%€27.18€17.69€14.2020
Apr ’24€16.80
€22.35
+33.0%
13.5%€27.67€14.40€12.5019
Mar ’24€17.80
€21.33
+19.8%
15.3%€29.02€14.67€12.4018
Feb ’24€17.30
€20.64
+19.3%
15.8%€28.53€14.51€12.9017
Jan ’24€13.30
€20.25
+52.3%
17.2%€28.51€14.50€14.6016
Dec ’23€15.80
€19.93
+26.1%
18.5%€28.50€13.86€14.5016
Nov ’23€10.40
€20.27
+94.9%
13.9%€27.16€14.30€13.8016

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

Discover undervalued companies

Murapol

zł1.4b

Engages in the residential real estate development in Poland.

44L

zł7.66

7D

2.1%

1Y

n/a

Tokyu Fudosan Holdings

JP¥697.2b

Engages in the real estate business in Japan and internationally.

T8F

JP¥6.00

7D

3.4%

1Y

4.3%

Relo Group

JP¥265.3b

Engages in the provision of property management services in Japan.

665

JP¥10.70

7D

0%

1Y

16.3%