KE Holdings (HKSE:02423) Research & Development: HK$2,750 Mil (TTM As of Mar. 2026)


HKSE:02423 KE Holdings Inc HKSE:02423
81 GF Score
Price HK$39.50
GF Value HK$49.08
Valuation Modestly Undervalued
! 5 Warning Signs
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What is KE Holdings Research & Development?

KE Holdings HKSE:02423 +1.54% 81 Research & Development is HK$2,750 Mil as of Mar. 2026. GuruFocus rates HKSE:02423 with a GF Score™ of 81/100 and a GF Value™ of HK$49.08 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. KE Holdings's Research & Development for the three months ended in Mar. 2026 was HK$559 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was HK$2,750 Mil.

KE Holdings  (HKSE:02423) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

KE Holdings Research & Development Related Terms

KE Holdings Research & Development Historical Data

* Premium members only.

The historical data trend for KE Holdings's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

KE Holdings Research & Development Chart

KE Holdings Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Research & Development
Get a 7-Day Free Trial Premium Member Only 3,910.93 2,842.65 2,118.41 2,437.95 2,850.81

KE Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 625.76 692.39 708.45 790.14 559.37
HKSE:02423
81GF Score
KE Holdings Inc HKSE:02423
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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KE Holdings Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was HK$2,750 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of HK$2,750 Mil mean?
KE Holdings (HKSE:02423) has a Research & Development of HK$2,750 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on KE Holdings and its competitors.
Is KE Holdings' Research & Development too high?
KE Holdings' current Research & Development is HK$2,750 Mil. Overall, KE Holdings has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does KE Holdings' Research & Development compare to JLL and CSGP?
KE Holdings' Research & Development of HK$2,750 Mil can be compared against companies in the Real Estate industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Real Estate company?
A good Research & Development depends on the Real Estate industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on KE Holdings and its competitors. KE Holdings's current Research & Development is HK$2,750 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KE Holdings stock overvalued right now?
Based on GuruFocus' analysis, KE Holdings (HKSE:02423) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$49.08, compared to a current price of HK$39.50 — trading 19.5% below its estimated fair value. The current Research & Development is HK$2,750 Mil. KE Holdings' overall GF Score™ is 81/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For KE Holdings (HKSE:02423), the current Research & Development is HK$2,750 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is KE Holdings (HKSE:02423) Overvalued in 2026?

Based on GuruFocus' analysis, KE Holdings stock appears to be undervalued. The current stock price of HK$39.50 is trading 19.5% below its estimated GF Value™ of HK$49.08. GuruFocus considers KE Holdings to be Modestly Undervalued.

Key valuation signals for HKSE:02423:

  • Research & Development: HK$2,750 Mil
  • GF Value™: HK$49.08 vs. price of HK$39.50 (19.5% below fair value)
  • GF Score™: 81/100 with 5 warning signs

No single metric tells the full story. See the HKSE:02423 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

KE Holdings Business Description

Other Exchanges BEKE:USAKE8A:Germany
Address No. 2 Chuangye Road, Oriental Electronic Technology Building, Haidian District, Beijing, CHN, 100086
KE Holdings, or Beike, is a large residential real estate sales and rental brokerage company in China. Founded in 2001, the company operates through self-owned Lianjia stores in Beijing and Shanghai and connected third-party agencies, including franchise brand Deyou in other cities, with commissions charged on existing-home and new-home transactions. Leveraging an online-offline hybrid model, Beike also attract clients through its namesake online marketplace. The company tapped into home renovation services by acquiring Shengdu Home Decoration in 2022. As of the end of 2025, Beike's co-founders collectively control the company, while Tencent and its affiliates share 8% of voting power.
81GF Score

Get the complete analysis for HKSE:02423

Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$39.50
Price
HK$49.08
GF Value