KE Holdings (BEKE) Balance Sheet: Assets & Liabilities

KE Holdings (BEKE) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), KE Holdings reported total assets of CNY 116.67B and total liabilities of CNY 50.14B. Shareholders' equity was CNY 66.44B, down 6.8% from CNY 71.32B a year earlier. Total debt stood at CNY 18.78B against CNY 47.35B in cash and short-term investments, a net cash position of CNY 28.58B. That puts debt-to-equity at 0.28, compared with 0.32 a year earlier.

KE Holdings Balance Sheet Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for KE Holdings Inc. (BEKE) - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	7.77	11.44	19.63	19.41	20.45	40.97	24.32	9.12	5.24
Short-Term Investments	39.58	41.32	34.26	35.49	29.40	15.69	1.84	2.52	7.59
Cash & Short-Term Investments	47.35	52.76	53.89	54.90	49.85	56.66	26.16	11.64	12.82
Accounts Receivable	6.83	10.53	3.27	4.08	9.32	13.20	8.11	3.35	2.67
Inventory	2.85	1.61	0.30	0.13	0.02	12.97	11.63	4.63	6.14
Other Current Assets	11.09	11.70	12.29	0.50	10.12	4.71	6.00	7.75	2.44
Total Current Assets	68.12	76.60	69.75	70.42	69.93	87.54	51.91	27.37	24.07
Non-Current Assets
Property, Plant & Equipment (Net)	20.83	25.77	19.50	13.24	9.22	8.29	6.73	6.09	6.00
Long-Term Investments	20.15	23.79	23.57	0.37	17.04	3.14	2.33	0.42	0.38
Goodwill	4.66	4.78	4.86	4.93	1.81	2.47	2.48	1.14	0.71
Intangible Assets	1.10	1.25	1.31	1.77	1.14	1.64	2.59	0.20	0.26
Other Non-Current Assets	0.55	-0.04	0.23	0.01	1.19	0.33	0.70	2.98	0.01
Total Non-Current Assets	48.55	56.55	50.58	38.92	30.39	16.76	15.35	11.49	7.51
Total Assets	116.67	133.15	120.33	109.35	100.32	104.30	67.27	38.87	31.58
Current Liabilities
Accounts Payable	6.05	9.49	6.33	5.84	6.59	6.44	4.03	1.41	0.36
Short-Term Debt	11.36	14.02	9.66	0.62	0.19	4.14	5.23	3.06	3.10
Current Portion of Long-Term Debt	0.71	0.29	0.29	0.62	0.45	1.51	-	-	-
Accrued Liabilities	14.79	0.37	0.29	0.22	13.85	12.61	-	-	-
Deferred Revenue	5.70	6.08	4.69	3.29	1.10	0.73	0.59	0.30	0.24
Other Current Liabilities	19.29	27.77	22.50	3.45	4.18	21.33	16.55	15.09	11.36
Total Current Liabilities	42.41	52.74	39.52	33.34	28.94	33.63	27.80	20.57	16.05
Non-Current Liabilities
Long-Term Debt	7.41	8.64	8.33	6.60	4.30	3.85	7.81	2.90	2.58
Deferred Tax Liabilities	0.32	0.32	0.28	0.35	0.02	0.02	0.02	0.00	0.00
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.02	0.00	0.12	0.53	0.00
Total Non-Current Liabilities	7.73	8.96	8.61	6.95	4.33	3.87	7.93	3.43	3.10
Total Liabilities	50.14	61.70	48.13	40.29	33.26	37.50	35.73	24.01	19.14
Stockholders' Equity
Common Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	1.14	-1.72	-5.67	-11.41	-9.36	-9.23	-11.78	-7.99	-5.37
Accumulated Other Comprehensive Income	1.35	1.54	1.06	0.25	-2.64	-1.44	0.32	0.17	0.14
Treasury Stock	0.85	0.95	0.87	0.23	-	-	-	-	-
Additional Paid-in Capital	63.99	71.51	76.72	80.30	78.97	77.43	2.53	0.00	0.00
Minority Interest	0.09	0.12	0.10	0.13	0.08	0.03	0.09	0.01	0.07
Shares Outstanding	3.37	3.48	3.60	3.73	3.57	-	-	-	-
Total Stockholders' Equity	66.44	71.32	72.10	68.92	67.06	66.77	31.45	14.85	12.37
Total Liabilities & Equity	116.74	133.15	120.33	109.35	100.32	104.30	67.27	38.87	31.58

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About KE Holdings Balance Sheet

How much debt does KE Holdings have?

KE Holdings had total debt of CNY 18.78B as of Dec 31, 2025, against CNY 47.35B in cash and short-term investments. Its debt-to-equity ratio was 0.28. Total debt was CNY 22.65B a year earlier.

What are KE Holdings's total assets?

KE Holdings reported total assets of CNY 116.67B as of Dec 31, 2025, down 12.4% from CNY 133.15B a year earlier. Total liabilities were CNY 50.14B.

What is KE Holdings's shareholders' equity?

KE Holdings's shareholders' equity was CNY 66.44B as of Dec 31, 2025, or about CNY 19.70 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition