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Side-by-side financial comparison of KE Holdings Inc. (BEKE) and Royal Caribbean Group (RCL). Click either name above to swap in a different company.
Royal Caribbean Group is the larger business by last-quarter revenue ($4.3B vs $3.2B, roughly 1.3× KE Holdings Inc.). Royal Caribbean Group runs the higher net margin — 17.7% vs 3.2%, a 14.4% gap on every dollar of revenue. Over the past eight quarters, KE Holdings Inc.'s revenue compounded faster (9.8% CAGR vs 6.9%).
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.
Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a cruise holding company headquartered in Miami, Florida, United States and incorporated in Liberia. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of September 2025, Royal Caribbean Group fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It also holds a 50% stake in TUI Cruises, which operates Mein Schiff and Hapag-Lloyd ...
BEKE vs RCL — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $4.3B |
| Net Profit | $104.9M | $753.0M |
| Gross Margin | 21.4% | 47.4% |
| Operating Margin | 2.6% | 21.9% |
| Net Margin | 3.2% | 17.7% |
| Revenue YoY | — | 13.3% |
| Net Profit YoY | — | 36.4% |
| EPS (diluted) | — | $2.76 |
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 | $4.3B | ||
| Q3 25 | $3.6B | $5.1B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | $3.2B | $4.0B | ||
| Q4 24 | — | $3.8B | ||
| Q3 24 | $3.2B | $4.9B | ||
| Q2 24 | $3.2B | $4.1B | ||
| Q1 24 | $2.3B | $3.7B |
| Q4 25 | $104.9M | $753.0M | ||
| Q3 25 | $182.4M | $1.6B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | $117.9M | $730.0M | ||
| Q4 24 | — | $552.0M | ||
| Q3 24 | $166.5M | $1.1B | ||
| Q2 24 | $261.5M | $854.0M | ||
| Q1 24 | $59.8M | $360.0M |
| Q4 25 | 21.4% | 47.4% | ||
| Q3 25 | 21.9% | 51.8% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | 20.7% | 48.0% | ||
| Q4 24 | — | 45.4% | ||
| Q3 24 | 22.7% | 51.1% | ||
| Q2 24 | 27.9% | 47.6% | ||
| Q1 24 | 25.2% | 44.8% |
| Q4 25 | 2.6% | 21.9% | ||
| Q3 25 | 4.1% | 33.1% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | 2.5% | 23.6% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | 3.2% | 33.4% | ||
| Q2 24 | 8.6% | 26.7% | ||
| Q1 24 | 0.1% | 20.1% |
| Q4 25 | 3.2% | 17.7% | ||
| Q3 25 | 5.0% | 30.6% | ||
| Q2 25 | — | 26.7% | ||
| Q1 25 | 3.7% | 18.3% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 5.2% | 22.7% | ||
| Q2 24 | 8.1% | 20.8% | ||
| Q1 24 | 2.6% | 9.7% |
| Q4 25 | — | $2.76 | ||
| Q3 25 | — | $5.74 | ||
| Q2 25 | — | $4.41 | ||
| Q1 25 | — | $2.70 | ||
| Q4 24 | — | $2.27 | ||
| Q3 24 | — | $4.21 | ||
| Q2 24 | — | $3.11 | ||
| Q1 24 | — | $1.35 |
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 | $825.0M |
| Total DebtLower is stronger | — | $18.2B |
| Stockholders' EquityBook value | — | $10.0B |
| Total Assets | $16.8B | $41.6B |
| Debt / EquityLower = less leverage | — | 1.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $825.0M | ||
| Q3 25 | $1.6B | $432.0M | ||
| Q2 25 | — | $735.0M | ||
| Q1 25 | $1.8B | $386.0M | ||
| Q4 24 | — | $388.0M | ||
| Q3 24 | $1.4B | $418.0M | ||
| Q2 24 | $1.3B | $391.0M | ||
| Q1 24 | $2.5B | $437.0M |
| Q4 25 | — | $18.2B | ||
| Q3 25 | — | $17.2B | ||
| Q2 25 | — | $17.6B | ||
| Q1 25 | — | $18.0B | ||
| Q4 24 | — | $18.5B | ||
| Q3 24 | — | $19.0B | ||
| Q2 24 | — | $19.8B | ||
| Q1 24 | — | $18.9B |
| Q4 25 | — | $10.0B | ||
| Q3 25 | $9.6B | $10.1B | ||
| Q2 25 | — | $9.2B | ||
| Q1 25 | $9.5B | $8.0B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | $10.1B | $7.0B | ||
| Q2 24 | $9.7B | $6.0B | ||
| Q1 24 | $9.6B | $5.2B |
| Q4 25 | $16.8B | $41.6B | ||
| Q3 25 | $17.3B | $40.1B | ||
| Q2 25 | — | $38.5B | ||
| Q1 25 | $18.0B | $37.5B | ||
| Q4 24 | — | $37.1B | ||
| Q3 24 | $17.5B | $37.1B | ||
| Q2 24 | $16.9B | $37.0B | ||
| Q1 24 | $16.5B | $35.2B |
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.92× | ||
| Q1 25 | — | 2.26× | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 2.69× | ||
| Q2 24 | — | 3.29× | ||
| Q1 24 | — | 3.66× |
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 | — | $1.6B |
| Free Cash FlowOCF − Capex | — | $116.0M |
| FCF MarginFCF / Revenue | — | 2.7% |
| Capex IntensityCapex / Revenue | — | 35.4% |
| Cash ConversionOCF / Net Profit | — | 2.16× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | $-546.4M | $1.6B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $64.0M | $897.0M | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | — | $116.0M | ||
| Q3 25 | — | $-989.0M | ||
| Q2 25 | — | $910.0M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $915.0M | ||
| Q3 24 | — | $563.0M | ||
| Q2 24 | — | $-567.0M | ||
| Q1 24 | — | $1.1B |
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | 20.1% | ||
| Q1 25 | — | 30.0% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | — | 11.5% | ||
| Q2 24 | — | -13.8% | ||
| Q1 24 | — | 29.1% |
| Q4 25 | — | 35.4% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 52.1% | ||
| Q1 24 | — | 6.5% |
| Q4 25 | — | 2.16× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 1.44× | ||
| Q1 25 | -4.64× | 2.23× | ||
| Q4 24 | — | 2.66× | ||
| Q3 24 | 0.38× | 0.81× | ||
| Q2 24 | — | 1.84× | ||
| Q1 24 | — | 3.69× |
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% |
RCL
| Passenger | $2.9B | 69% |
| Other | $1.3B | 31% |
