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Side-by-side financial comparison of KE Holdings Inc. (BEKE) and CDW Corporation (CDW). Click either name above to swap in a different company.
CDW Corporation is the larger business by last-quarter revenue ($5.5B vs $3.2B, roughly 1.7× KE Holdings Inc.). Over the past eight quarters, KE Holdings Inc.'s revenue compounded faster (9.8% CAGR vs 6.3%).
KE Holdings Inc., operating under the well-known Beike brand, is a leading integrated online and offline residential service platform based in China. It offers a full range of services including second-hand property brokerage, new housing sales agency, home rental, renovation, and related financial consultation to meet diverse housing-related demands of consumers across multiple scenarios.
CDW Corporation is an American multi-brand provider of information technology services, serving business, government, education, and healthcare sectors across the United States, the United Kingdom, and Canada. Headquartered in Vernon Hills, Illinois, CDW is a Fortune 500 and generated $21 billion in annual net sales in 2023.
BEKE vs CDW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $5.5B |
| Net Profit | $104.9M | — |
| Gross Margin | 21.4% | 22.8% |
| Operating Margin | 2.6% | 7.8% |
| Net Margin | 3.2% | — |
| Revenue YoY | — | 6.3% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $2.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.2B | $5.5B | ||
| Q3 25 | $3.6B | $5.7B | ||
| Q2 25 | — | $6.0B | ||
| Q1 25 | $3.2B | $5.2B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $3.2B | $5.5B | ||
| Q2 24 | $3.2B | $5.4B | ||
| Q1 24 | $2.3B | $4.9B |
| Q4 25 | $104.9M | — | ||
| Q3 25 | $182.4M | $291.0M | ||
| Q2 25 | — | $271.2M | ||
| Q1 25 | $117.9M | $224.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $166.5M | $316.4M | ||
| Q2 24 | $261.5M | $281.1M | ||
| Q1 24 | $59.8M | $216.1M |
| Q4 25 | 21.4% | 22.8% | ||
| Q3 25 | 21.9% | 21.9% | ||
| Q2 25 | — | 20.8% | ||
| Q1 25 | 20.7% | 21.6% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | 22.7% | 21.8% | ||
| Q2 24 | 27.9% | 21.8% | ||
| Q1 24 | 25.2% | 21.8% |
| Q4 25 | 2.6% | 7.8% | ||
| Q3 25 | 4.1% | 7.7% | ||
| Q2 25 | — | 7.0% | ||
| Q1 25 | 2.5% | 7.0% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | 3.2% | 8.7% | ||
| Q2 24 | 8.6% | 8.0% | ||
| Q1 24 | 0.1% | 6.7% |
| Q4 25 | 3.2% | — | ||
| Q3 25 | 5.0% | 5.1% | ||
| Q2 25 | — | 4.5% | ||
| Q1 25 | 3.7% | 4.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.2% | 5.7% | ||
| Q2 24 | 8.1% | 5.2% | ||
| Q1 24 | 2.6% | 4.4% |
| Q4 25 | — | $2.13 | ||
| Q3 25 | — | $2.21 | ||
| Q2 25 | — | $2.05 | ||
| Q1 25 | — | $1.69 | ||
| Q4 24 | — | $1.97 | ||
| Q3 24 | — | $2.34 | ||
| Q2 24 | — | $2.07 | ||
| Q1 24 | — | $1.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $618.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $2.6B |
| Total Assets | $16.8B | $16.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $618.7M | ||
| Q3 25 | $1.6B | $452.9M | ||
| Q2 25 | — | $481.0M | ||
| Q1 25 | $1.8B | $688.1M | ||
| Q4 24 | — | $717.7M | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.3B | $665.3M | ||
| Q1 24 | $2.5B | $803.8M |
| Q4 25 | — | $2.6B | ||
| Q3 25 | $9.6B | $2.5B | ||
| Q2 25 | — | $2.5B | ||
| Q1 25 | $9.5B | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $10.1B | $2.3B | ||
| Q2 24 | $9.7B | $2.2B | ||
| Q1 24 | $9.6B | $2.1B |
| Q4 25 | $16.8B | $16.0B | ||
| Q3 25 | $17.3B | $15.2B | ||
| Q2 25 | — | $15.3B | ||
| Q1 25 | $18.0B | $15.0B | ||
| Q4 24 | — | $14.7B | ||
| Q3 24 | $17.5B | $14.4B | ||
| Q2 24 | $16.9B | $13.6B | ||
| Q1 24 | $16.5B | $13.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $433.8M |
| Free Cash FlowOCF − Capex | — | $395.9M |
| FCF MarginFCF / Revenue | — | 7.2% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $433.8M | ||
| Q3 25 | — | $328.3M | ||
| Q2 25 | — | $155.9M | ||
| Q1 25 | $-546.4M | $287.2M | ||
| Q4 24 | — | $345.3M | ||
| Q3 24 | $64.0M | $342.1M | ||
| Q2 24 | — | $149.9M | ||
| Q1 24 | — | $440.0M |
| Q4 25 | — | $395.9M | ||
| Q3 25 | — | $298.5M | ||
| Q2 25 | — | $133.4M | ||
| Q1 25 | — | $260.3M | ||
| Q4 24 | — | $316.7M | ||
| Q3 24 | — | $308.5M | ||
| Q2 24 | — | $119.0M | ||
| Q1 24 | — | $410.5M |
| Q4 25 | — | 7.2% | ||
| Q3 25 | — | 5.2% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | 8.4% |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | — | 0.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.13× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | -4.64× | 1.28× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.38× | 1.08× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 2.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BEKE
| New home transaction services | $932.6M | 29% |
| Existing home transaction services | $841.5M | 26% |
| Home rental services | $804.4M | 25% |
| Home renovation and furnishing | $604.0M | 19% |
| Emerging and other services | $55.6M | 2% |
CDW
Segment breakdown not available.
