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Side-by-side financial comparison of KE Holdings Inc. (BEKE) and MERCADOLIBRE INC (MELI). Click either name above to swap in a different company.
MERCADOLIBRE INC is the larger business by last-quarter revenue ($6.1B vs $3.2B, roughly 1.9× KE Holdings Inc.). MERCADOLIBRE INC runs the higher net margin — 9.1% vs 3.2%, a 5.9% gap on every dollar of revenue. Over the past eight quarters, MERCADOLIBRE INC's revenue compounded faster (40.7% CAGR vs 9.8%).
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.
MercadoLibre, Inc., known as Mercado Livre in Brazil, literally meaning "free market" in both languages, is a company of Argentine origin and incorporated in Delaware in the United States that operates online marketplaces dedicated to e-commerce and online auctions. As of 2016, Mercado Libre had 174.2 million users in Latin America, making it the region's most popular e-commerce site by number of visitors.
BEKE vs MELI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $6.1B |
| Net Profit | $104.9M | $559.0M |
| Gross Margin | 21.4% | 61.7% |
| Operating Margin | 2.6% | 14.5% |
| Net Margin | 3.2% | 9.1% |
| Revenue YoY | — | 40.2% |
| Net Profit YoY | — | -12.5% |
| EPS (diluted) | — | $11.03 |
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 | $6.1B | ||
| Q3 25 | $3.6B | $5.2B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | $3.2B | $4.2B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | $3.2B | $3.9B | ||
| Q2 24 | $3.2B | $3.8B | ||
| Q1 24 | $2.3B | $3.1B |
| Q4 25 | $104.9M | $559.0M | ||
| Q3 25 | $182.4M | $421.0M | ||
| Q2 25 | — | $523.0M | ||
| Q1 25 | $117.9M | $494.0M | ||
| Q4 24 | — | $639.0M | ||
| Q3 24 | $166.5M | $397.0M | ||
| Q2 24 | $261.5M | $531.0M | ||
| Q1 24 | $59.8M | $344.0M |
| Q4 25 | 21.4% | 61.7% | ||
| Q3 25 | 21.9% | 61.7% | ||
| Q2 25 | — | 64.4% | ||
| Q1 25 | 20.7% | 66.1% | ||
| Q4 24 | — | 62.8% | ||
| Q3 24 | 22.7% | 62.6% | ||
| Q2 24 | 27.9% | 62.8% | ||
| Q1 24 | 25.2% | 65.3% |
| Q4 25 | 2.6% | 14.5% | ||
| Q3 25 | 4.1% | 13.9% | ||
| Q2 25 | — | 17.2% | ||
| Q1 25 | 2.5% | 18.2% | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | 3.2% | 14.3% | ||
| Q2 24 | 8.6% | 19.3% | ||
| Q1 24 | 0.1% | 17.0% |
| Q4 25 | 3.2% | 9.1% | ||
| Q3 25 | 5.0% | 8.1% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | 3.7% | 11.8% | ||
| Q4 24 | — | 14.6% | ||
| Q3 24 | 5.2% | 10.2% | ||
| Q2 24 | 8.1% | 14.1% | ||
| Q1 24 | 2.6% | 11.1% |
| Q4 25 | — | $11.03 | ||
| Q3 25 | — | $8.32 | ||
| Q2 25 | — | $10.31 | ||
| Q1 25 | — | $9.74 | ||
| Q4 24 | — | $12.60 | ||
| Q3 24 | — | $7.83 | ||
| Q2 24 | — | $10.48 | ||
| Q1 24 | — | $6.78 |
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 | $6.3B |
| Total DebtLower is stronger | — | $4.6B |
| Stockholders' EquityBook value | — | $6.7B |
| Total Assets | $16.8B | $42.7B |
| Debt / EquityLower = less leverage | — | 0.68× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $6.3B | ||
| Q3 25 | $1.6B | $6.3B | ||
| Q2 25 | — | $7.6B | ||
| Q1 25 | $1.8B | $8.1B | ||
| Q4 24 | — | $7.1B | ||
| Q3 24 | $1.4B | $6.7B | ||
| Q2 24 | $1.3B | $6.9B | ||
| Q1 24 | $2.5B | $6.3B |
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $3.4B | ||
| Q2 25 | — | $3.5B | ||
| Q1 25 | — | $2.9B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.2B |
| Q4 25 | — | $6.7B | ||
| Q3 25 | $9.6B | $6.2B | ||
| Q2 25 | — | $5.7B | ||
| Q1 25 | $9.5B | $5.0B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | $10.1B | $4.0B | ||
| Q2 24 | $9.7B | $3.7B | ||
| Q1 24 | $9.6B | $3.4B |
| Q4 25 | $16.8B | $42.7B | ||
| Q3 25 | $17.3B | $36.7B | ||
| Q2 25 | — | $32.9B | ||
| Q1 25 | $18.0B | $27.7B | ||
| Q4 24 | — | $25.2B | ||
| Q3 24 | $17.5B | $22.6B | ||
| Q2 24 | $16.9B | $20.0B | ||
| Q1 24 | $16.5B | $19.1B |
| Q4 25 | — | 0.68× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.61× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 0.67× | ||
| Q1 24 | — | 0.66× |
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 | — | $5.2B |
| Free Cash FlowOCF − Capex | — | $4.8B |
| FCF MarginFCF / Revenue | — | 77.9% |
| Capex IntensityCapex / Revenue | — | 7.0% |
| Cash ConversionOCF / Net Profit | — | 9.32× |
| TTM Free Cash FlowTrailing 4 quarters | — | $10.8B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | $-546.4M | $1.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $64.0M | $1.6B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | — | $4.8B | ||
| Q3 25 | — | $2.6B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $759.0M | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.4B |
| Q4 25 | — | 77.9% | ||
| Q3 25 | — | 50.0% | ||
| Q2 25 | — | 54.8% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 59.8% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | — | 45.1% | ||
| Q1 24 | — | 44.1% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 6.0% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | — | 4.9% | ||
| Q1 24 | — | 4.7% |
| Q4 25 | — | 9.32× | ||
| Q3 25 | — | 7.03× | ||
| Q2 25 | — | 5.58× | ||
| Q1 25 | -4.64× | 2.09× | ||
| Q4 24 | — | 4.58× | ||
| Q3 24 | 0.38× | 4.03× | ||
| Q2 24 | — | 3.54× | ||
| Q1 24 | — | 4.40× |
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% |
MELI
| Commerce | $2.8B | 45% |
| Argentina Segment | $1.6B | 26% |
| Products | $1.2B | 20% |
| Other Countries Segment | $414.0M | 7% |
