KE Holdings (BEKE) Operating Expenses (2019 - 2026)
KE Holdings (BEKE) posted Operating Expenses of -$476.6 million for Q1 2026, up 32.04% sequentially from -$701.2 million in Q4 2025, and up 18.25% YoY from -$403.0 million in Q1 2025.
KE Holdings (BEKE) Operating Expenses (2019 - 2026) Analysis & Trends
KE Holdings has reported Operating Expenses for 8 years, with the latest figure at -$476.6 million in Q1 2026.
- Quarterly Operating Expenses rose 18.25% year-over-year to -$476.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$2.4 billion (down 69.53% YoY) and the FY2025 annual result came in at $2.6 billion, down 1.49% from the prior year.
- Operating Expenses climbed to -$476.6 million in Q1 2026 per BEKE's latest filing, from -$701.2 million in the prior quarter.
- Over five years, Operating Expenses peaked at $619.5 million in Q2 2024 and troughed at -$843.8 million in Q4 2024.
- A 5-year average of -$527.7 million and a median of -$583.0 million in 2025 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses jumped 205.39% in 2024, then sank 204.56% in 2025.
- Over 5 years, Operating Expenses stood at -$537.3 million in 2022, then tumbled by 39.39% to -$748.9 million in 2023, then declined by 12.67% to -$843.8 million in 2024, then gained by 16.9% to -$701.2 million in 2025, then soared by 32.04% to -$476.6 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered -$476.6 million, -$701.2 million, and -$607.8 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Cbre | 44.30 Bn | 42.81 Bn | 2.09 Bn | - |
| 2 | KE Holdings | 18.87 Bn | 15.99 Bn | 661.06 Mn | -476.55 Mn |
| 3 | Jones Lang Lasalle | 17.79 Bn | 17.34 Bn | - | 6.64 Bn |
| 4 | Costar | 13.04 Bn | 11.78 Bn | 728.00 Mn | 652.00 Mn |
| 5 | Compass | 9.00 Bn | 8.31 Bn | 3.88 Bn | 4.18 Bn |
| 6 | FirstService | 6.55 Bn | 6.32 Bn | 480.66 Mn | 359.42 Mn |
| 7 | Colliers International | 5.46 Bn | 5.40 Bn | 635,105.00 Bn | 485.10 Mn |
| 8 | Cushman & Wakefield | 3.45 Bn | 2.95 Bn | 512.00 Mn | 2.63 Bn |
| 9 | Opendoor Technologies | 3.35 Bn | 2.45 Bn | 86.00 Mn | 230.00 Mn |
| 10 | Newmark | 2.85 Bn | 2.46 Bn | - | 848.02 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -476.55 Mn |
| Dec 31, 2025 | -701.18 Mn |
| Sep 30, 2025 | -607.83 Mn |
| Jun 30, 2025 | -647.77 Mn |
| Mar 31, 2025 | -582.96 Mn |
| Dec 31, 2024 | -843.80 Mn |
| Sep 30, 2024 | -628.10 Mn |
| Jun 30, 2024 | 619.49 Mn |
| Mar 31, 2024 | -569.26 Mn |
| Dec 31, 2023 | -748.91 Mn |
| Sep 30, 2023 | -544.10 Mn |
| Jun 30, 2023 | -587.79 Mn |
| Mar 31, 2023 | -490.97 Mn |
| Dec 31, 2022 | -537.26 Mn |
| Sep 30, 2022 | -498.20 Mn |
| Jun 30, 2022 | -630.99 Mn |
| Mar 31, 2022 | -494.96 Mn |
| Dec 31, 2021 | -643.28 Mn |
| Sep 30, 2021 | -784.44 Mn |
| Jun 30, 2021 | -653.16 Mn |