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Side-by-side financial comparison of KE Holdings Inc. (BEKE) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.
KE Holdings Inc. is the larger business by last-quarter revenue ($3.2B vs $71.1M, roughly 45.5× RE/MAX Holdings, Inc.). KE Holdings Inc. runs the higher net margin — 3.2% vs 2.0%, a 1.2% gap on every dollar of revenue. Over the past eight quarters, KE Holdings Inc.'s revenue compounded faster (9.8% CAGR vs -4.7%).
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.
RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.
BEKE vs RMAX — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $71.1M |
| Net Profit | $104.9M | $1.4M |
| Gross Margin | 21.4% | — |
| Operating Margin | 2.6% | 13.1% |
| Net Margin | 3.2% | 2.0% |
| Revenue YoY | — | -1.8% |
| Net Profit YoY | — | -75.2% |
| EPS (diluted) | — | — |
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 | $71.1M | ||
| Q3 25 | $3.6B | $73.2M | ||
| Q2 25 | — | $72.8M | ||
| Q1 25 | $3.2B | $74.5M | ||
| Q4 24 | — | $72.5M | ||
| Q3 24 | $3.2B | $78.5M | ||
| Q2 24 | $3.2B | $78.5M | ||
| Q1 24 | $2.3B | $78.3M |
| Q4 25 | $104.9M | $1.4M | ||
| Q3 25 | $182.4M | $4.0M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | $117.9M | $-2.0M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | $166.5M | $966.0K | ||
| Q2 24 | $261.5M | $3.7M | ||
| Q1 24 | $59.8M | $-3.4M |
| Q4 25 | 21.4% | — | ||
| Q3 25 | 21.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 20.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 22.7% | — | ||
| Q2 24 | 27.9% | — | ||
| Q1 24 | 25.2% | — |
| Q4 25 | 2.6% | 13.1% | ||
| Q3 25 | 4.1% | 25.0% | ||
| Q2 25 | — | 19.3% | ||
| Q1 25 | 2.5% | 7.2% | ||
| Q4 24 | — | 5.9% | ||
| Q3 24 | 3.2% | 19.4% | ||
| Q2 24 | 8.6% | 20.6% | ||
| Q1 24 | 0.1% | 5.8% |
| Q4 25 | 3.2% | 2.0% | ||
| Q3 25 | 5.0% | 5.4% | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | 3.7% | -2.6% | ||
| Q4 24 | — | 8.0% | ||
| Q3 24 | 5.2% | 1.2% | ||
| Q2 24 | 8.1% | 4.7% | ||
| Q1 24 | 2.6% | -4.3% |
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 | $118.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $452.4M |
| Total Assets | $16.8B | $582.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $118.7M | ||
| Q3 25 | $1.6B | $107.5M | ||
| Q2 25 | — | $94.3M | ||
| Q1 25 | $1.8B | $89.1M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | $1.4B | $83.8M | ||
| Q2 24 | $1.3B | $66.1M | ||
| Q1 24 | $2.5B | $82.1M |
| Q4 25 | — | $452.4M | ||
| Q3 25 | $9.6B | $448.1M | ||
| Q2 25 | — | $442.4M | ||
| Q1 25 | $9.5B | $433.5M | ||
| Q4 24 | — | $429.5M | ||
| Q3 24 | $10.1B | $423.1M | ||
| Q2 24 | $9.7B | $418.4M | ||
| Q1 24 | $9.6B | $412.0M |
| Q4 25 | $16.8B | $582.5M | ||
| Q3 25 | $17.3B | $582.2M | ||
| Q2 25 | — | $574.8M | ||
| Q1 25 | $18.0B | $571.4M | ||
| Q4 24 | — | $581.6M | ||
| Q3 24 | $17.5B | $578.6M | ||
| Q2 24 | $16.9B | $571.4M | ||
| Q1 24 | $16.5B | $566.7M |
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 | — | $12.9M |
| Free Cash FlowOCF − Capex | — | $10.2M |
| FCF MarginFCF / Revenue | — | 14.3% |
| Capex IntensityCapex / Revenue | — | 3.9% |
| Cash ConversionOCF / Net Profit | — | 8.97× |
| TTM Free Cash FlowTrailing 4 quarters | — | $33.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $12.9M | ||
| Q3 25 | — | $17.7M | ||
| Q2 25 | — | $4.6M | ||
| Q1 25 | $-546.4M | $5.7M | ||
| Q4 24 | — | $16.8M | ||
| Q3 24 | $64.0M | $17.6M | ||
| Q2 24 | — | $15.9M | ||
| Q1 24 | — | $9.4M |
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $16.4M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | — | $4.0M | ||
| Q4 24 | — | $16.0M | ||
| Q3 24 | — | $16.3M | ||
| Q2 24 | — | $14.0M | ||
| Q1 24 | — | $6.8M |
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 22.1% | ||
| Q3 24 | — | 20.8% | ||
| Q2 24 | — | 17.8% | ||
| Q1 24 | — | 8.6% |
| Q4 25 | — | 3.9% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.7% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 3.3% |
| Q4 25 | — | 8.97× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | -4.64× | — | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | 0.38× | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | — | — |
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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
