KE Holdings Inc ADR

BEKE: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Beike Earnings: Fair Value Estimate Lowered by 3% on More Conservative Top-Line Outlook

Jeff Zhang

Nov 11, 2025

KE Holdings, or Beike, reported 2% year-on-year revenue growth but a 5% decline in operating profit for the third quarter. The margin contraction was driven by a reduction in new property gross transaction value and higher agency costs, partly offset by reduced marketing expenses.

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KE Holdings Inc ADR

Beike Earnings: Fair Value Estimate Lowered by 3% on More Conservative Top-Line Outlook

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