Keep (HKSE:03650) ROE % Adjusted to Book Value: -4.36% (As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HKSE:03650 Keep Inc HKSE:03650
71 GF Score
Price HK$1.73
GF Value HK$5.20
Valuation Possible Value Trap
! 4 Warning Signs
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What is Keep ROE % Adjusted to Book Value?

Keep HKSE:03650 71 ROE % Adjusted to Book Value is -4.36% as of Dec. 2025. GuruFocus rates HKSE:03650 with a GF Score™ of 71/100 and a GF Value™ of HK$5.20 (Possible Value Trap). The stock has 4 warning signs investors should review.

Keep's ROE % for the quarter that ended in Dec. 2025 was -5.41%. Keep's PB Ratio for the quarter that ended in Dec. 2025 was 1.24. Keep's ROE % Adjusted to Book Value for the quarter that ended in Dec. 2025 was -4.36%.


Keep ROE % Adjusted to Book Value Related Terms


Keep ROE % Adjusted to Book Value Historical Data

* Premium members only.

The historical data trend for Keep's ROE % Adjusted to Book Value 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.

Keep ROE % Adjusted to Book Value Chart

Keep Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE % Adjusted to Book Value
Get a 7-Day Free Trial 0.00 0.00 Negative Equity -16.09 -4.35

Keep Semi-Annual Data
Dec19 Dec20 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
ROE % Adjusted to Book Value Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 -10.32 -23.89 -3.05 -4.36

HKSE:03650 vs AS, HAS, LTH: ROE % Adjusted to Book Value Comparison

For the Leisure subindustry, Keep's ROE % Adjusted to Book Value, along with its competitors' market caps and ROE % Adjusted to Book Value data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Keep ROE % Adjusted to Book Value vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Keep's ROE % Adjusted to Book Value distribution charts can be found below:

* The bar in red indicates where Keep's ROE % Adjusted to Book Value falls into.


HKSE:03650
71GF Score
Keep Inc HKSE:03650
ROE % Adjusted to Book Value is just one metric. See GF Score™, valuation, warning signs, and more.
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Keep ROE % Adjusted to Book Value Calculation

Keep's ROE % Adjusted to Book Value for the fiscal year that ended in Dec. 2025 is calculated as

ROE % Adjusted to Book Value=ROE % / PB Ratio
=-5.39% / 1.24
=-4.35%

Keep's ROE % Adjusted to Book Value for the quarter that ended in Dec. 2025 is calculated as

ROE % Adjusted to Book Value=ROE % / PB Ratio
=-5.41% / 1.24
=-4.36%

* 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.

What does a ROE % Adjusted to Book Value of -4.36% mean?
Keep (HKSE:03650) has a ROE % Adjusted to Book Value of -4.36% as of Dec. 2025. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Keep and its competitors.
Is Keep's ROE % Adjusted to Book Value too high?
Keep's current ROE % Adjusted to Book Value is -4.36%. Overall, Keep has a GF Score™ of 71/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Keep's ROE % Adjusted to Book Value compare to AS and HAS?
Keep's ROE % Adjusted to Book Value of -4.36% can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % Adjusted to Book Value for a Travel & Leisure company?
A good ROE % Adjusted to Book Value depends on the Travel & Leisure industry context. However, ROE % Adjusted to Book Value 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 ROE % Adjusted to Book Value mean?
A high ROE % Adjusted to Book Value can signal that a stock is expensive relative to its fundamentals. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on Keep and its competitors. Keep's current ROE % Adjusted to Book Value is -4.36%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keep stock overvalued right now?
Based on GuruFocus' analysis, Keep (HKSE:03650) is currently considered Possible Value Trap. The stock's GF Value™ is HK$5.20, compared to a current price of HK$1.73 — trading 66.7% below its estimated fair value. The current ROE % Adjusted to Book Value is -4.36%. Keep's overall GF Score™ is 71/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % Adjusted to Book Value calculated?
ROE % Adjusted to Book Value is calculated from a company's financial statements. For Keep (HKSE:03650), the current ROE % Adjusted to Book Value is -4.36% as of Dec. 2025. 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 Keep (HKSE:03650) Overvalued in 2026?

Based on GuruFocus' analysis, Keep stock appears to be undervalued. The current stock price of HK$1.73 is trading 66.7% below its estimated GF Value™ of HK$5.20. GuruFocus considers Keep to be Possible Value Trap.

Key valuation signals for HKSE:03650:

  • ROE % Adjusted to Book Value: -4.36%
  • GF Value™: HK$5.20 vs. price of HK$1.73 (66.7% below fair value)
  • GF Score™: 71/100 with 4 warning signs

No single metric tells the full story. See the HKSE:03650 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Keep Business Description

Address No. 9 Wangjing Street, Building D, Vanke Time Square, Chaoyang, Beijing, CHN
Keep Inc is a growing and result-oriented platform that provides users with a comprehensive fitness solution to help them achieve their fitness goals. It offers extensive and professional fitness content with AI-assisted personalized curriculums, encompassing interactive live-streaming classes and recorded fitness courses, that dynamically adjust course content and workout intensity based on users' athletic levels, fitness goals, daily workout patterns, and diet. The company's operating segment includes Self-branded fitness products, Online membership and paid content, and Advertising and others. The company generates the majority of its revenue from Self-branded fitness products.
71GF Score

Get the complete analysis for HKSE:03650

ROE % Adjusted to Book Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$1.73
Price
HK$5.20
GF Value