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KE vs Real Brokerage: revenue, profit, margins and growth compared

KE brought in $13.5B of revenue in fiscal 2025, Real Brokerage $2B in fiscal 2025. Revenue changed by +5.6% at KE and +55.7% at Real Brokerage on the year before, so Real Brokerage grew faster. KE kept 3.2% of its revenue as net profit, Real Brokerage -0.4%. Free cash flow was -$140.7M at KE and $64.8M at Real Brokerage.

Side by side, latest fiscal year

BEKEREAX
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$13.5B$2B
Revenue growth+5.6%+55.7%
Net income$428.1M-$8.1M
Net margin3.2%-0.4%
Free cash flow-$140.7M$64.8M
Free cash flow margin-1.0%3.3%
Earnings per share (diluted)$0.12-$0.04
Cash$1.1B$33.2M
Debtn/an/a
Price to earningsn/an/a
Market value$18.5B$3.6B
Dividend yieldn/an/a
Rank by revenue in sector#51 of 444 · Finance#146 of 444 · Finance

Over the years

Revenue
BEKE FY2020: $10.8BBEKE FY2021: $12.7BBEKE FY2022: $8.8BBEKE FY2023: $11BBEKE FY2024: $12.8BBEKE FY2025: $13.5BREAX FY2021: $16.6MREAX FY2021: $121.7MREAX FY2022: $381.8MREAX FY2023: $689.2MREAX FY2024: $1.3BREAX FY2025: $2BFY20FY21FY22FY23FY24FY25
BEKE $13.5BREAX $2B
Net income
BEKE FY2020: $425.7MBEKE FY2021: -$82.2MBEKE FY2022: -$201MBEKE FY2023: $828.6MBEKE FY2024: $556.9MBEKE FY2025: $428.1MREAX FY2021: -$3.6MREAX FY2021: -$11.7MREAX FY2022: -$20.6MREAX FY2023: -$27.5MREAX FY2024: -$26.5MREAX FY2025: -$8.1MFY20FY21FY22FY23FY24FY25
BEKE $428.1MREAX -$8.1M
Net margin
BEKE FY2020: 3.9%BEKE FY2021: -0.6%BEKE FY2022: -2.3%BEKE FY2023: 7.6%BEKE FY2024: 4.3%BEKE FY2025: 3.2%REAX FY2021: -21.9%REAX FY2021: -9.6%REAX FY2022: -5.4%REAX FY2023: -4.0%REAX FY2024: -2.1%REAX FY2025: -0.4%FY20FY21FY22FY23FY24FY25
BEKE 3.2%REAX -0.4%
Revenue growth
BEKE FY2021: +17.3%BEKE FY2022: -30.6%BEKE FY2023: +24.5%BEKE FY2024: +16.9%BEKE FY2025: +5.6%REAX FY2021: +634.8%REAX FY2022: +213.7%REAX FY2023: +80.5%REAX FY2024: +83.5%REAX FY2025: +55.7%FY21FY22FY23FY24FY25
BEKE +5.6%REAX +55.7%
Free cash flow
BEKE FY2020: $1.3BBEKE FY2021: $339.8MBEKE FY2022: $1.1BBEKE FY2023: $1.4BBEKE FY2024: $1.2BBEKE FY2025: -$140.7MREAX FY2021: -$1.6MREAX FY2021: $1.5MREAX FY2023: $18.3MREAX FY2024: $47.7MREAX FY2025: $64.8MFY20FY21FY22FY23FY24FY25
BEKE -$140.7MREAX $64.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about KE and Real Brokerage

Which is bigger by revenue, KE or Real Brokerage?

KE is bigger by revenue: $13.5B in fiscal 2025, against $2B for Real Brokerage in fiscal 2025.

Which keeps more of its revenue as profit, KE or Real Brokerage?

KE had a net margin of 3.2% in fiscal 2025; Real Brokerage had -0.4% in fiscal 2025.

Which grew revenue faster, KE or Real Brokerage?

In their latest fiscal years revenue changed by +5.6% at KE and +55.7% at Real Brokerage.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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