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KE Holdings Inc. key statistics and ratios

In fiscal 2025, KE Holdings Inc. had return on equity of 4.3% and a net margin of 3.2%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025
Net margin−1.6%−4.7%3.9%−0.6%−2.3%7.6%4.3%3.2%
Return on equity——9.0%−0.8%−2.0%8.3%5.7%4.3%
Return on assets—−3.3%3.1%−0.5%−1.3%5.1%3.2%2.4%
Effective tax rate——36.7%——25.3%40.6%36.0%
R&D as % of revenue2.3%3.4%3.5%4.0%4.2%2.5%2.4%2.7%
Dividends ÷ net income—————24.2%69.6%96.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 6 checks passed · December 31, 2025
What it owns · $16.7bn
Short-term assets $9.7bnLonger-term assets $6.9bn
What it owes, and who funded it · $16.7bn
Short-term liabilities $6.1bnLonger-term liabilities $1.1bnShareholders' equity $9.5bn
  • Short-term assets cover short-term liabilities $9.7bn of assets due within a year against $6.1bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $9.7bn short-term assets against $1.1bn of longer-dated liabilities.
  • More cash than debt $1.1bn of cash against $26m of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$52m of operating cash flow against $26m of debt.
  • Operating profit covers interest at least five times over Operating income of $294m against $939,243 of interest.

From KE Holdings Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from KE Holdings Inc.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to KE Holdings Inc.