KE Holdings Inc.

NYSE:BEKE Stock Report

Market Cap: US$24.8b

KE Holdings Valuation

Is BEKE 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 BEKE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BEKE ($20.23) is trading below our estimate of fair value ($29.13)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BEKE. This is calculated by dividing BEKE's market cap by their current earnings.
What is BEKE's PE Ratio?
PE Ratio42.4x
EarningsCN¥4.15b
Market CapCN¥179.52b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BEKE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average73.3x
CSGP CoStar Group
178.3x42.5%US$29.6b
CBRE CBRE Group
41.4x20.7%US$39.8b
JLL Jones Lang LaSalle
25.5x17.7%US$12.3b
NMRK Newmark Group
48.2x31.6%US$3.7b
BEKE KE Holdings
42.4x19.9%US$24.8b

Price-To-Earnings vs Peers: BEKE is good value based on its Price-To-Earnings Ratio (42.4x) compared to the peer average (73.3x).

Price to Earnings Ratio vs Industry

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

6 CompaniesPrice / EarningsEstimated GrowthMarket Cap
STHO Star Holdings
1.8xn/aUS$150.51m
STSR Strategic Student & Senior Housing Trust
2.4xn/aUS$41.31m
XIN Xinyuan Real Estate
0.4xn/aUS$19.93m
ILAL International Land Alliance
2.4xn/aUS$7.65m
BEKE 42.4xIndustry Avg. 31.8xNo. of Companies6PE020406080100+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BEKE is expensive based on its Price-To-Earnings Ratio (42.4x) compared to the US Real Estate industry average (31.8x).

Price to Earnings Ratio vs Fair Ratio

What is BEKE'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.

BEKE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio42.4x
Fair PE Ratio32.3x

Price-To-Earnings vs Fair Ratio: BEKE is expensive based on its Price-To-Earnings Ratio (42.4x) compared to the estimated Fair Price-To-Earnings Ratio (32.3x).

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 BEKE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$20.23
US$23.85
+17.9%
18.4%US$34.41US$16.05n/a21
Nov ’25US$22.09
US$23.64
+7.0%
18.7%US$34.32US$16.01n/a21
Oct ’25US$23.38
US$21.87
-6.5%
12.5%US$30.59US$16.31n/a21
Sep ’25US$14.84
US$21.43
+44.4%
12.3%US$30.28US$16.15n/a20
Aug ’25US$13.40
US$21.45
+60.1%
13.6%US$30.11US$15.05n/a19
Jul ’25US$14.78
US$21.24
+43.7%
13.4%US$29.92US$14.95n/a20
Jun ’25US$16.97
US$21.35
+25.8%
13.3%US$30.03US$15.01n/a20
May ’25US$14.95
US$20.43
+36.7%
17.4%US$30.15US$14.91n/a20
Apr ’25US$14.33
US$20.53
+43.3%
17.4%US$30.30US$14.99n/a20
Mar ’25US$13.28
US$23.50
+77.0%
15.2%US$32.30US$17.02n/a20
Feb ’25US$14.23
US$24.00
+68.7%
14.8%US$32.50US$17.23n/a21
Jan ’25US$16.21
US$24.16
+49.0%
14.8%US$32.54US$17.25n/a21
Dec ’24US$15.76
US$24.29
+54.2%
14.4%US$32.60US$17.29n/a22
Nov ’24US$14.81
US$24.12
+62.9%
12.5%US$30.84US$19.33US$22.0921
Oct ’24US$15.52
US$24.16
+55.7%
12.5%US$30.86US$19.34US$23.3821
Sep ’24US$18.50
US$24.34
+31.6%
11.9%US$31.35US$20.00US$14.8421
Aug ’24US$17.59
US$24.60
+39.9%
11.8%US$31.74US$19.63US$13.4021
Jul ’24US$14.85
US$24.40
+64.3%
11.8%US$31.31US$19.36US$14.7820
Jun ’24US$15.11
US$24.87
+64.6%
11.6%US$32.08US$19.84US$16.9721
May ’24US$15.88
US$24.67
+55.3%
9.8%US$29.82US$19.41US$14.9520
Apr ’24US$18.84
US$24.23
+28.6%
13.5%US$30.00US$15.61US$14.3319
Mar ’24US$19.20
US$22.74
+18.4%
15.3%US$30.94US$15.65US$13.2818
Feb ’24US$19.28
US$22.67
+17.6%
15.8%US$31.34US$15.94US$14.2317
Jan ’24US$13.96
US$21.50
+54.0%
17.2%US$30.26US$15.39US$16.2116
Dec ’23US$16.70
US$20.98
+25.6%
18.5%US$30.00US$14.59US$15.7616
Nov ’23US$10.61
US$20.03
+88.7%
13.9%US$26.83US$14.12US$14.8116

Analyst Forecast: Target price is less than 20% higher than the current share price.

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