KE Holdings Inc. (BEKE)
KE Holdings runs Beike, a platform in China for buying, selling and renting homes, and owns Lianjia, the brokerage brand the business started as. Operations began in 2001 through Beijing Lianjia, founded that September by Mr. ZUO Hui, and the Beike platform launched in 2018, the same year KE Holdings Inc. was incorporated in the Cayman Islands as the holding company. The platform facilitated approximately 5.6 million housing transactions in 2025 with aggregate GTV of RMB3,183.3 billion, and the company states its figures in renminbi. The depositary shares have traded on the NYSE since 13 August 2020 and the Class A ordinary shares on the Hong Kong Stock Exchange since 11 May 2022, the two fully fungible with each other.
KE Holdings Inc. files a 20-F with the SEC once a year, in renminbi. In the year to 31 December 2025 it reported revenue of CNY 94,580 million ($13.2 billion at the year's average rate), up 1.2% on the year before. Its profit attributable to shareholders was CNY 2,994 million, down 26.3%, and diluted earnings per share CNY 0.86.
KE Holdings (BEKE) in brief
KE Holdings (BEKE) reported revenue of CNY 94.6 billion for the year to 31 December 2025, up 1.2% on the year before.
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Profit attributable to shareholders was CNY 3.0 billion and diluted earnings per share CNY 0.86. Revenue was CNY 93.5 billion in 2024, CNY 77.8 billion in 2023, CNY 60.7 billion in 2022 and CNY 80.8 billion in 2021. Profit attributable to shareholders in the same years was CNY 4.1 billion, CNY 5.9 billion, a loss of CNY 1.4 billion and a loss of CNY 524 million. Revenue grew 6.1% a year, compounded, over the five years to 2025. At the close of 10 November 2026 the market cap of KE Holdings was $20.4 billion, 46.8 times its earnings for 2025.The share in the US
| Last close | $18.11 on 10 November 2026 |
| 52-week range | $14.26 (26 June 2026) to $19.59 (13 May 2026) |
| Over one year | up 12.2% |
| Market cap | $20.4 billion: 3,373,256,629 shares outstanding at 31 December 2025 (20-F), each US share standing for 3 ordinary shares |
| P/E, latest fiscal year | 46.8: the last close over diluted EPS for the year to Dec 2025, CNY 0.86 per ordinary share times 3, CNY 2.58 per US share, $0.39 at 6.68 CNY per US dollar on 6 November 2026 (FRED DEXCHUS). The company reports once a year, so this is the latest fiscal year, not the last four quarters. |
US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed. Prices from IEX, for splits.
Ratios
From the latest annual report, the year to Dec 2025, in dollars
ROE4.5%
ROCE3.1%
Operating margin2.2%
Net margin3.2%
FCF margin-1.0%
Interest covern/a
Debt to equity0.02
Cash conversion-0.13
Share count, last 12 months-1.8%
Sales CAGR, 3 years16.0%
Profit CAGR, 3 yearsn/a
EPS$0.39
At the close of 10 November 2026
Price$18.11
Market cap$20.4 billion
Stock P/E46.85
Price to book2.05
EV / EBITDAn/a
Dividend yield2.0%
Market cap / sales1.44
52-week high$19.59
52-week low$14.26
Price, 1 year12.2%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
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The priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of KE Holdings Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.BEKEgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
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Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed, times the 3 ordinary shares one US share stands for, in dollars at the year's average exchange rate (Federal Reserve, from FRED). Sales and margin are each year's revenue in dollars and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet in dollars at its year-end rate and its share count per US share. The dashed line is the median over the range shown. The P/E above uses today's exchange rate, so the latest point here can differ from it a little. Drawn in your browser; the range and overlay you pick are remembered here only.The public record on BEKE
| Dividends | CNY 2,881 million paid in cash dividends in FY2025 |
| Filings | 74 in twelve months: 73 reports on Form 6-K, most often next Day Disclosure Return (37); monthly Return for Equity Issuer and Hong Kong Depositary Receipts listed under Chapter 19B of the Exchange Listing Rules on Movements in Securities (9); grant of restricted share units (6); next Day Disclosure Return (Equity issuer - changes in issued shares or treasury shares, share buybacks and/or on-market sales of treasury shares) (5); date of Board Meeting (2) |
| Planned insider sales | 3 Form 144 notices in twelve months, $131.6 million; latest 25 September 2026 |
| Options tape | put/call 0.24 by open interest at the 10 November 2026 close; the straddle prices a 4.1% move to 13 November 2026 |
| 13F holders | 204 funds reported a position for the quarter to 30 June 2026; largest Price T Rowe Associates Inc. |
| Insider trading | 2 sales and 0 purchases on Form 4 in twelve months |
| Congress | 0 House trades disclosed in six months |
| Short interest | 22.8 million shares short, 6.08 days to cover at 30 October 2026 |
Income statement (profit and loss), 8 fiscal years
Figures in
Play it forward: change any box and its column follows; every box opens at the company's own record, shown under the row's name, and says when you set it outside every year in the table.
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Each column runs from the latest year filed to the year chosen in its heading, at a yearly rate. Sales growth starts at the company's own five-year rate and eases a third of the way each year toward the median of the 32 peers in Real Estate (8.5% a year), because a rate far from the rest rarely lasts. Before you open a year, the strip reads today's price backwards: the yearly sales growth that brings EPS, at the company's own margins, tax and share count, to today's price at the median P/E of the 25 peers in Real Estate (25.2). Low, middle, high opens three columns for one year: the low and high cases take the company's own weaker and stronger years in the table (the lower and upper quarter of its yearly sales growth and operating margin) and the lower and higher of today's P/E and its peers'; the middle is the boxes as they open. Net income keeps the share that went to minority holders; EPS is net income over the diluted shares, on the same basis as the EPS in the table. The price is that year's EPS at the P/E you set, and the yearly return runs from today's price to the year's end. These are your assumptions and your arithmetic, not an estimate of ours. The link carries your columns, so you can send the forecast to someone.| Year to | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 † | Dec 2023 † | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 28,646 | 46,015 | 70,481 | 80,752 | 60,669 | 77,777 | 93,457 | 94,580 |
| Cost of sales | 21,777 | 34,747 | 53,621 | 64,933 | 46,888 | 56,059 | 70,513 | 74,368 |
| Gross profit | 6,870 | 11,268 | 16,860 | 15,819 | 13,781 | 21,718 | 22,944 | 20,212 |
| Research and development | 671 | 1,571 | 2,478 | 3,194 | 2,546 | 1,937 | 2,283 | 2,581 |
| Operating profit | -1,218 | -1,786 | 2,842 | -1,355 | -833 | 4,797 | 3,765 | 2,111 |
| Profit before tax | -499 | -1,276 | 4,387 | 1,141 | 292 | 7,884 | 6,870 | 4,677 |
| Income tax | -71.4 | 904 | 1,609 | 1,665 | 1,690 | 1,994 | 2,792 | 1,686 |
| Profit for the year | -428 | -2,180 | 2,778 | -525 | -1,397 | 5,890 | 4,078 | 2,991 |
| Profit attributable to shareholders | -468 | -2,184 | 2,778 | -524 | -1,386 | 5,883 | 4,065 | 2,994 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
CNY million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the US GAAP tags the company filed.
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A line the company does not file under the standard tag is left out rather than estimated. A year marked † shows the figure as the company restated it in a later annual report (Dec 2022, Dec 2023); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.| Year to | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 † | Dec 2023 † | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Diluted EPS | -1.75 | -2.94 | 0.32 | -0.15 | -0.39 | 1.63 | 1.15 | 0.86 |
| Basic EPS | -1.75 | -2.94 | 0.32 | -0.15 | -0.39 | 1.67 | 1.19 | 0.90 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
CNY per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.
Revenue by segment
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Share of the parts, latest year | |
|---|---|---|---|---|---|---|---|---|---|
| New home transaction services | 7,472 | 20,274 | 37,938 | 46,472 | 28,650 | 30,576 | 33,653 | 30,597 | 32.4% |
| Existing home transaction services | 20,155 | 24,569 | 30,565 | 31,948 | 24,124 | 27,954 | 28,201 | 25,020 | 26.5% |
| Home rental services | n/a | n/a | n/a | n/a | 1,515 | 6,100 | 14,334 | 21,900 | 23.2% |
| Home renovation and furnishing | n/a | n/a | 109 | 197 | 5,047 | 10,850 | 14,769 | 15,426 | 16.3% |
| Emerging and other services | 1,020 | 1,173 | 1,870 | 2,135 | 1,333 | 2,297 | 2,500 | 1,636 | 1.7% |
New home transaction servicesExisting home transaction servicesHome rental services FY2022 to FY2025Home renovation and furnishing FY2020 to FY2025Emerging and other services
CNY billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then
CNY million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.
Revenue by product or service
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Share of the parts, latest year | |
|---|---|---|---|---|---|---|---|---|---|
| New home transaction services | 7,472 | 20,274 | 37,938 | 46,472 | 28,650 | 30,576 | 33,653 | 30,597 | 32.4% |
| Existing home transaction services | 20,155 | 24,569 | 30,565 | 31,948 | 24,124 | 27,954 | 28,201 | 25,020 | 26.5% |
| Home rental services | n/a | n/a | n/a | n/a | 1,515 | 6,100 | 14,334 | 21,900 | 23.2% |
| Home renovation and furnishing | n/a | n/a | 109 | 197 | 5,047 | 10,850 | 14,769 | 15,426 | 16.3% |
| Emerging and other services | 1,020 | 1,173 | 1,870 | 2,135 | 1,333 | 2,297 | 2,500 | 1,636 | 1.7% |
New home transaction servicesExisting home transaction servicesHome rental services FY2022 to FY2025Home renovation and furnishing FY2020 to FY2025Emerging and other services
CNY billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then
CNY million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.
Cash flow statement
Follow the cash: free cash flow, which is operating cash flow less capital expenditure and share-based pay, for five years and after, in today's money.
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The figure a share at the top is what a discounted cash flow calls intrinsic value, worked out on your assumptions. Everything after year five is one sum: the sixth year's cash, growing at the long-run rate every year after, added up and brought back to today's money. Each year runs from the latest year filed. Sales growth opens where Play it forward does: the company's own five-year rate, easing a third of the way each year toward the median of the 32 peers in Real Estate (8.5% a year); change a year and the years after it follow. Operating cash flow, capital expenditure and share-based pay open at the company's own median share of sales over its last five years, shown under each row. Share-based pay is taken off because operating cash flow adds back the shares paid to staff as if they cost nothing; set it to 0 to leave it in. Capital spending counts every capital line the company files in its cash flow, such as equipment it leases to customers, software, wells or property it develops, named under the row, while the Capital expenditure row in the table below stays the one line as filed; buying a business, securities or a finished property is not counted. The discount rate opens at 10%, about what US stocks have returned a year over the long run, so it is the return you give up by holding this company instead of the market; the growth after year five opens at 3%, a little under the US economy's long-run growth in dollars, because no company outgrows it for ever. Net debt is the debt and short-term borrowings less the cash on the latest balance sheet that shows the debt; the figure per share divides what is left by the diluted share count. These are your assumptions and your arithmetic, not an estimate of ours. The link carries them, so you can send them to someone.| Year to | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 † | Dec 2023 † | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 3,217 | 113 | 9,362 | 3,595 | 8,519 | 11,414 | 9,447 | -376 |
| Purchase of property, plant and equipment | 543 | 703 | 887 | 1,430 | 793 | 874 | 1,037 | 608 |
| Free cash flow | 2,674 | -590 | 8,475 | 2,165 | 7,726 | 10,540 | 8,410 | -984 |
| Cash from investing | 2,609 | -3,874 | -14,978 | -24,884 | -8,472 | -3,977 | -9,378 | 5,894 |
| Cash from financing | -1,282 | 23,026 | 25,406 | -1,074 | -1,213 | -7,218 | -5,795 | -9,793 |
| Buybacks | n/a | 207 | n/a | n/a | 1,320 | 5,151 | 5,101 | 6,581 |
| Dividends paid | n/a | n/a | n/a | n/a | n/a | 1,426 | 2,831 | 2,881 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
CNY million, from the cash flow statement as filed.
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Purchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.Balance sheet at year end
| Year to | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 † | Dec 2023 † | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Funded by | ||||||||
| Equity attributable to shareholders | -7,804 | -8,925 | 66,765 | 66,974 | 68,920 | 72,100 | 71,324 | 66,441 |
| Non-controlling interests | n/a | 87.2 | 27.1 | 81.5 | 134 | 101 | 124 | 88.5 |
| Borrowings, as filed | n/a | 7,909 | 1,528 | 454 | 619 | 290 | 288 | 1,148 |
| Other liabilities | n/a | 68,193 | 35,976 | 32,809 | 39,674 | 47,840 | 61,413 | 48,991 |
| Total equity and liabilities | n/a | 67,265 | 104,296 | 100,319 | 109,347 | 120,332 | 133,149 | 116,668 |
| Owned | ||||||||
| Property, plant and equipment | n/a | 1,134 | 1,472 | 1,972 | 2,037 | 1,965 | 2,400 | 2,070 |
| Goodwill | 1,135 | 2,477 | 2,467 | 1,806 | 4,934 | 4,857 | 4,777 | 4,660 |
| Other intangible assets | n/a | 2,560 | 1,643 | 1,141 | 1,687 | 1,067 | 858 | 723 |
| Cash and cash equivalents | 9,116 | 24,319 | 40,970 | 20,446 | 19,413 | 19,635 | 11,443 | 7,773 |
| Trade and other receivables | n/a | 8,093 | 13,184 | 9,325 | 4,075 | 3,018 | 5,297 | 3,091 |
| Inventories | n/a | n/a | n/a | 19.0 | 128 | 304 | 1,610 | 2,854 |
| Other assets | n/a | 28,681 | 44,559 | 65,610 | 77,073 | 89,486 | 106,764 | 95,497 |
| Total assets | n/a | 67,265 | 104,296 | 100,319 | 109,347 | 120,332 | 133,149 | 116,668 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
CNY million, at each fiscal year end.
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Both totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.Ratios on the filed lines
| Year to | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 † | Dec 2023 † | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Gross margin | 24.0% | 24.5% | 23.9% | 19.6% | 22.7% | 27.9% | 24.6% | 21.4% |
| Operating margin | -4.3% | -3.9% | 4.0% | -1.7% | -1.4% | 6.2% | 4.0% | 2.2% |
| Net margin | -1.6% | -4.7% | 3.9% | -0.6% | -2.3% | 7.6% | 4.3% | 3.2% |
| Free cash flow margin | 9.3% | -1.3% | 12.0% | 2.7% | 12.7% | 13.6% | 9.0% | -1.0% |
| Return on year-end equity | n/a | n/a | 4.2% | -0.8% | -2.0% | 8.2% | 5.7% | 4.5% |
| Effective tax rate | n/a | n/a | 36.7% | 146.0% | 578.0% | 25.3% | 40.6% | 36.0% |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.
Questions
What was KE Holdings' revenue in 2025?
KE Holdings (BEKE) reported revenue of CNY 94.6 billion for the year to 31 December 2025, up 1.2% on the year before.
How much did KE Holdings earn in 2025?
Profit attributable to shareholders was CNY 3.0 billion for the year to 31 December 2025, and diluted earnings per share CNY 0.86.
What is KE Holdings' P/E ratio?
At the close of 10 November 2026, KE Holdings traded at 46.8 times its earnings for 2025.
What is KE Holdings' market cap?
The market cap of KE Holdings was $20.4 billion at the close of 10 November 2026.
The exchange rates used
| Year to | Average over the year CNY per US dollar | At the year end CNY per US dollar |
|---|---|---|
| Dec 2018 | 6.60 | 6.88 |
| Dec 2019 | 6.90 | 6.96 |
| Dec 2020 | 6.90 | 6.53 |
| Dec 2021 | 6.45 | 6.37 |
| Dec 2022 | 6.72 | 6.90 |
| Dec 2023 | 7.08 | 7.10 |
| Dec 2024 | 7.20 | 7.30 |
| Dec 2025 | 7.19 | 6.99 |
Converted by us, not by the company: the Federal Reserve's daily noon buying rates in New York (H.10), FRED series DEXCHUS.
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Profit and loss, cash flow and EPS use the average of the daily rates over each fiscal year; the balance sheet uses the rate on the year end, or the last one before it. Ratios are the same in either currency. The filed figures are the ones in renminbi.Peers: Real Estate
| Company | Market cap | P/E | ROE | Op. margin | Sales growth TTM | Debt to equity | Div. yield |
|---|---|---|---|---|---|---|---|
| CBRE Group, Inc. CBRE | $38.9 billion | 28.86 | 15.9% | 4.6% | 14.5% | 0.91 | n/a |
| KE Holdings Inc. BEKE * | $20.4 billion | 46.85 | 4.5% | 2.2% | 1.2% | 0.02 | 2.0% |
| Jones Lang Lasalle Inc. JLL | $17.1 billion | 16.20 | 14.3% | 4.9% | 11.4% | 0.28 | n/a |
| Invitation Homes Inc. INVH | $15.8 billion | 23.75 | 7.7% | 11.5% | 7.2% | 0.99 | 4.4% |
| Compass, Inc. COMP | $7.6 billion | 71.21 | 4.2% | -1.4% | 89.8% | 1.00 | n/a |
| Terreno Realty Corp. TRNO | $7.4 billion | 19.96 | 7.7% | 41.6% | 17.2% | 0.20 | 3.2% |
| Marriott Vacations Worldwide Corp. VAC | $4.0 billion | n/a | -11.8% | -0.9% | 4.6% | 2.55 | 2.8% |
| Newmark Group, Inc. NMRK | $2.0 billion | 13.65 | 10.3% | 7.4% | 17.5% | 1.50 | 1.6% |
| Opendoor Technologies Inc. OPEN | $1.2 billion | n/a | -278.5% | -19.0% | -28.8% | 5.17 | n/a |
| Marcus & Millichap, Inc. MMI | $936 million | 63.23 | 2.6% | 1.3% | 10.0% | 0.00 | 2.0% |
| Agnt, Inc. AGNT | $476 million | n/a | -9.2% | -0.3% | 7.7% | 0.00 | 6.9% |
| Douglas Elliman Inc. DOUG | $158 million | 2.64 | 32.4% | 5.3% | -3.5% | 0.00 | n/a |
All 38 in Real Estate
| Company | Market cap | P/E | ROE | Op. margin | Sales growth TTM | Debt to equity | Div. yield |
|---|---|---|---|---|---|---|---|
| Brookfield Corporation BN * | $94.6 billion | 86.49 | 0.8% | n/a | -12.7% | 0.09 | 0.8% |
| CBRE Group, Inc. CBRE | $38.9 billion | 28.86 | 15.9% | 4.6% | 14.5% | 0.91 | n/a |
| KE Holdings Inc. BEKE * | $20.4 billion | 46.85 | 4.5% | 2.2% | 1.2% | 0.02 | 2.0% |
| Jones Lang Lasalle Inc. JLL | $17.1 billion | 16.20 | 14.3% | 4.9% | 11.4% | 0.28 | n/a |
| Invitation Homes Inc. INVH | $15.8 billion | 23.75 | 7.7% | 11.5% | 7.2% | 0.99 | 4.4% |
| Compass, Inc. COMP | $7.6 billion | 71.21 | 4.2% | -1.4% | 89.8% | 1.00 | n/a |
| Terreno Realty Corp. TRNO | $7.4 billion | 19.96 | 7.7% | 41.6% | 17.2% | 0.20 | 3.2% |
| Millrose Properties, Inc. MRP | $4.3 billion | 8.66 | 8.6% | 85.2% | n/a | 0.53 | 11.7% |
| St. Joe Co. JOE | $4.1 billion | 34.53 | 15.8% | 32.0% | 11.1% | 0.71 | 0.9% |
| Marriott Vacations Worldwide Corp. VAC | $4.0 billion | n/a | -11.8% | -0.9% | 4.6% | 2.55 | 2.8% |
| Curbline Properties Corp. CURB | $3.6 billion | 122.25 | 1.2% | 17.6% | 50.6% | 0.26 | 2.4% |
| Cushman & Wakefield Ltd. CWK | $3.3 billion | 47.90 | 3.3% | 4.5% | 10.2% | 1.24 | n/a |
| Urban Edge Properties UE | $2.6 billion | 25.18 | 7.4% | n/a | 5.5% | 1.21 | 3.9% |
| Newmark Group, Inc. NMRK | $2.0 billion | 13.65 | 10.3% | 7.4% | 17.5% | 1.50 | 1.6% |
| Getty Realty Corp. GTY | $1.9 billion | 17.50 | 8.0% | 63.5% | 12.3% | 0.93 | 6.8% |
| Innovative Industrial Properties Inc. IIPR | $1.5 billion | 12.43 | 7.7% | 51.4% | -4.4% | 0.38 | 13.8% |
| Ellington Financial Inc. EFC | $1.5 billion | 6.84 | 10.3% | 38.7% | 48.5% | 2.03 | 13.7% |
| Piedmont Realty Trust, Inc. PDM | $1.2 billion | n/a | -6.1% | 13.8% | 2.9% | 1.62 | 1.3% |
| Opendoor Technologies Inc. OPEN | $1.2 billion | n/a | -278.5% | -19.0% | -28.8% | 5.17 | n/a |
| Forestar Group Inc. FOR | $1.2 billion | 6.94 | 9.2% | n/a | 11.8% | 0.43 | n/a |
| Marcus & Millichap, Inc. MMI | $936 million | 63.23 | 2.6% | 1.3% | 10.0% | 0.00 | 2.0% |
| Sky Harbour Group Corp. SKYH | $861 million | n/a | 1.3% | -69.9% | 54.3% | 1.09 | n/a |
| Five Point Holdings, LLC FPH | $648 million | 11.23 | 1.3% | -2.9% | -39.1% | 0.19 | n/a |
| Gladstone Commercial Corp. GOOD | $489 million | 51.41 | 12.5% | n/a | 10.6% | 5.80 | 11.9% |
| Hudson Pacific Properties, Inc. HPP | $486 million | n/a | -25.1% | n/a | 2.8% | 1.31 | 0.0% |
| Agnt, Inc. AGNT | $476 million | n/a | -9.2% | -0.3% | 7.7% | 0.00 | 6.9% |
| Tejon Ranch Co. TRC | $476 million | 60.72 | 1.6% | 5.8% | 45.4% | 0.20 | n/a |
| FRP Holdings, Inc. FRPH | $365 million | 1,899.00 | 0.0% | 11.6% | 2.5% | 0.50 | n/a |
| American Realty Investors Inc. ARL | $351 million | 41.81 | 1.3% | -18.3% | 6.8% | 0.35 | 0.0% |
| Maui Land & Pineapple Co. Inc. MLP | $298 million | n/a | -14.9% | -36.3% | -4.1% | 0.28 | n/a |
| Alico, Inc. ALCO | $277 million | 169.95 | 1.5% | -138.0% | -61.4% | 0.81 | 0.5% |
| Claros Mortgage Trust, Inc. CMTG | $240 million | n/a | -44.3% | n/a | -31.1% | 1.85 | n/a |
| Douglas Elliman Inc. DOUG | $158 million | 2.64 | 32.4% | 5.3% | -3.5% | 0.00 | n/a |
| Amrep Corp. AXR | $115 million | 19.76 | 4.2% | 14.8% | -15.3% | 0.00 | n/a |
| Mobile Infrastructure Corp. BEEP | $93 million | n/a | -15.4% | n/a | -0.8% | 1.54 | n/a |
| Star Holdings STHO | $93 million | n/a | -14.0% | -9.4% | -10.2% | 0.67 | n/a |
| Seritage Growth Properties SRG | $89 million | n/a | -20.1% | -172.0% | -23.7% | 0.17 | n/a |
| Intergroup Corp. INTG | $84 million | 51.25 | n/a | 16.0% | 14.9% | n/a | n/a |
8 companies share its SEC industry code (Real Estate Agents & Managers (For Others)); the rest are the names nearest in size in its wider industry, Real Estate, one of the Fama-French 48 industries, a published grouping of SEC industry codes.