KE Holdings Inc.

NYSE:BEKE Stock Report

Market Cap: US$22.2b

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 ($18.38) is trading below our estimate of fair value ($28.66)

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 Ratio38.9x
EarningsCN¥4.16b
Market CapCN¥161.98b

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 Average66.7x
CSGP CoStar Group
167x42.2%US$29.3b
CBRE CBRE Group
40.6x20.7%US$38.9b
JLL Jones Lang LaSalle
25.1x18.0%US$12.0b
CWK Cushman & Wakefield
34.1x26.8%US$3.0b
BEKE KE Holdings
38.9x21.0%US$22.2b

Price-To-Earnings vs Peers: BEKE is good value based on its Price-To-Earnings Ratio (38.9x) compared to the peer average (66.7x).

Price to Earnings Ratio vs Industry

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

8 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FPH Five Point Holdings
4.8xn/aUS$532.04m
STHO Star Holdings
1.5xn/aUS$124.01m
STSR Strategic Student & Senior Housing Trust
2.5xn/aUS$41.23m
XIN Xinyuan Real Estate
0.3xn/aUS$12.74m
BEKE 38.9xIndustry Avg. 27.3xNo. of Companies8PE020406080100+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BEKE is expensive based on its Price-To-Earnings Ratio (38.9x) compared to the US Real Estate industry average (27.3x).

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 Ratio38.9x
Fair PE Ratio32x

Price-To-Earnings vs Fair Ratio: BEKE is expensive based on its Price-To-Earnings Ratio (38.9x) compared to the estimated Fair Price-To-Earnings Ratio (32x).

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$18.38
US$25.04
+36.3%
15.4%US$32.78US$17.68n/a20
Dec ’25US$18.85
US$25.33
+34.4%
15.2%US$33.03US$17.81n/a21
Nov ’25US$22.09
US$23.63
+7.0%
18.7%US$34.30US$16.01n/a21
Oct ’25US$23.38
US$21.86
-6.5%
12.5%US$30.59US$16.31n/a21
Sep ’25US$14.84
US$21.42
+44.3%
12.4%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$30.04US$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$17.29US$18.8522
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

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.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 03:50
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

KE Holdings Inc. is covered by 43 analysts. 23 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jiong ShaoBarclays
Yusheng LiuBOCI Research Ltd.
Xiaomeng ZhuangBofA Global Research