A Business at a Glance
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Sea Ltd
SE
$62.6B
Mkt Cap
$100.00
+0.50%
Sea Ltd (SE) has a current P/E ratio of 135.1.
Sea Ltd (SE) has a 5-year average return on invested capital (ROIC) of -2.3%. This is below average and may indicate limited pricing power.
Sea Ltd (SE) has a market capitalization of $62.6B. It is classified as a large-cap stock.
Sea Ltd (SE) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.02%.
Sea Ltd (SE) operates in the Services-Miscellaneous Business Services industry, within the Industrials sector.
Sea Ltd (SE) reported annual revenue of $22.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Sea Ltd (SE) has a net profit margin of 6.9%. This is a modest margin.
Sea Ltd (SE) generated $4.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 22.9B | 22.9B | 16.8B | 13.1B | 12.4B | 10.0B |
| Net Income | 1.6B | 1.6B | 446M | 151M | -1.7B | -2.0B |
| EPS | $2.52 | $2.52 | $0.74 | $0.25 | $-2.96 | $-3.84 |
| Free Cash Flow | 4.5B | 4.5B | 3.0B | 1.8B | -2.0B | -564M |
| ROIC | 13.5% | 23.4% | 15.9% | 12.0% | -25.1% | -37.9% |
| Gross Margin | 44.7% | 44.7% | 42.8% | 44.7% | 41.6% | 39.1% |
| Debt/Equity | 0.16 | 0.16 | 0.16 | 0.18 | 0.20 | 0.09 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | - |
| Operating Income | 2.0B | 2.0B | 662M | 225M | -1.5B | -1.6B |
| Operating Margin | 8.7% | 8.7% | 3.9% | 1.7% | -11.9% | -15.9% |
| ROE | 12.6% | 15.1% | 6.0% | 2.4% | -25.2% | -38.0% |
| Shares Outstanding | 626M | 626M | 603M | 603M | 558M | 533M |
| Metric | 2015 | 2016 | 2025 | TTM | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 292M | 346M | 414M | 827M | 2.2B | 4.4B | 10.0B | 12.4B | 13.1B | 16.8B | 22.9B | 22.9B |
| Gross Margin | 36.9% | 32.7% | 21.1% | 1.8% | 27.8% | 30.8% | 39.1% | 41.6% | 44.7% | 42.8% | 44.7% | 44.7% |
| R&D | 18M | 21M | 29M | 68M | 157M | 354M | 832M | 1.4B | 1.2B | 1.2B | 1.2B | 1.2B |
| SG&A | 87M | 112M | 138M | 241M | 386M | 600M | 988M | 1.4B | 1.1B | 1.3B | 1.4B | 1.4B |
| EBIT | -83M | -205M | -502M | -989M | -891M | -1.3B | -1.6B | -1.5B | 225M | 662M | 2.0B | 2.0B |
| Op. Margin | -28.4% | -59.4% | -121.3% | -119.6% | -41.0% | -29.8% | -15.9% | -11.9% | 1.7% | 3.9% | 8.7% | 8.7% |
| Net Income | -103M | -223M | -560M | -961M | -1.5B | -1.6B | -2.0B | -1.7B | 151M | 446M | 1.6B | 1.6B |
| Net Margin | -35.4% | -64.5% | -135.3% | -116.2% | -67.2% | -37.0% | -20.6% | -13.3% | 1.2% | 2.7% | 6.9% | 6.9% |
| Non-Recurring | 0 | 20M | 24M | 7.7M | 129K | 84K | -12M | 355M | 118M | 0 | 0 | 0 |
| Returns on Capital | ||||||||||||
| ROIC | N/A | -42.3% | -104.7% | -35.6% | -13.5% | -71.1% | -37.9% | -25.1% | 12.0% | 15.9% | 23.4% | 13.5% |
| ROE | N/A | N/A | -326.5% | N/A | -318.2% | -71.2% | -38.0% | -25.2% | 2.4% | 6.0% | 15.1% | 12.6% |
| ROA | N/A | -89.2% | -45.3% | -46.0% | -39.4% | -20.6% | -14.0% | -9.2% | 0.8% | 2.1% | 6.1% | 5.4% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | -25M | -102M | -259M | -495M | 70M | 556M | 209M | -1.1B | 2.1B | 3.3B | 5.0B | 5.0B |
| Free Cash Flow | -51M | -119M | -327M | -673M | -170M | 220M | -564M | -2.0B | 1.8B | 3.0B | 4.5B | 4.5B |
| Owner Earnings | -75M | -176M | -357M | -654M | -261M | 85M | -541M | -2.2B | 954M | 2.2B | 4.0B | 4.0B |
| CapEx | 26M | 17M | 67M | 177M | 240M | 336M | 772M | 924M | 242M | 318M | 514M | 514M |
| Maint. CapEx | 29M | 45M | 69M | 100M | 214M | 181M | 279M | 428M | 441M | 390M | 372M | 372M |
| Growth CapEx | 0 | 0 | 0 | 77M | 26M | 156M | 493M | 496M | 0 | 0 | 142M | 142M |
| D&A | 29M | 45M | 69M | 100M | 214M | 181M | 279M | 428M | 441M | 390M | 372M | 372M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 343.3% | 60.5% | 370.1% | N/A | 11.6% | 9.7% | N/A | 10.2% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14M | 14M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 21M | 29M | 29M | 58M | 117M | 290M | 470M | 706M | 685M | 716M | 625M | 625M |
| Debt Repayment | 0 | 0 | 0 | 0 | 2.9M | 32M | 1.2M | 117M | 54M | 8.6M | 9.8M | 9.8M |
| Balance Sheet | ||||||||||||
| Net Debt | N/A | -168M | -636M | 58M | -3.0B | -6.0B | -9.5B | -5.8B | -4.2B | -7.3B | -8.6B | -2.2B |
| Cash & Equiv. | 116M | 170M | 1.3B | 1.0B | 3.1B | 6.2B | 9.2B | 6.0B | 2.8B | 2.4B | 4.2B | 4.2B |
| Long-Term Debt | N/A | N/A | 727M | 1.0M | 5.3M | 85K | 7.0M | 12M | 119M | 249M | 510M | 510M |
| Debt/Equity | N/A | -0.01 | 1.55 | -4.37 | 0.18 | 0.08 | 0.09 | 0.20 | 0.18 | 0.16 | 0.16 | 0.16 |
| Interest Coverage | -2595.6 | -8930.0 | -19.0 | -31.6 | -18.5 | -10.5 | -11.6 | -32.8 | 5.5 | 17.3 | 59.1 | 59.1 |
| Equity | N/A | -126M | 469M | -243M | 1.2B | 3.4B | 7.4B | 5.7B | 6.6B | 8.4B | 12.5B | 12.5B |
| Total Assets | N/A | 486M | 2.0B | 2.2B | 5.2B | 10.5B | 18.8B | 17.0B | 18.9B | 22.6B | 29.4B | 29.4B |
| Total Liabilities | N/A | 406M | 1.5B | 2.4B | 4.1B | 7.0B | 11.3B | 11.2B | 12.2B | 14.1B | 16.7B | 16.7B |
| Intangibles | N/A | 30M | 37M | 13M | 15M | 40M | 53M | 65M | 51M | 27M | 12M | 12M |
| Retained Earnings | N/A | -505M | -1.1B | -2.1B | -3.5B | -5.2B | -7.2B | -8.7B | -8.6B | -8.2B | -6.6B | -6.6B |
| Working Capital | N/A | 46M | 1.1B | 524M | 2.0B | 4.3B | 8.0B | 5.8B | 3.6B | 5.6B | 8.6B | 8.6B |
| Current Assets | N/A | 310M | 1.7B | 1.7B | 4.4B | 8.9B | 15.1B | 12.7B | 11.8B | 16.9B | 23.2B | 23.2B |
| Current Liabilities | N/A | 264M | 638M | 1.2B | 2.4B | 4.6B | 7.2B | 6.9B | 8.2B | 11.3B | 14.7B | 14.7B |
| Per Share Data | ||||||||||||
| EPS | -0.63 | -1.30 | -2.72 | -2.84 | -3.35 | -3.39 | -3.84 | -2.96 | 0.25 | 0.74 | 2.52 | 2.52 |
| Owner EPS | -0.46 | -1.03 | -1.73 | -1.93 | -0.60 | 0.18 | -1.01 | -3.93 | 1.58 | 3.60 | 6.43 | 6.43 |
| Book Value | N/A | -0.73 | 2.28 | -0.72 | 2.66 | 7.09 | 13.88 | 10.24 | 10.94 | 13.89 | 20.00 | 20.00 |
| Cash Flow/Share | -0.15 | -0.59 | -1.26 | -1.46 | 0.16 | 1.16 | 0.39 | -1.89 | 3.45 | 5.44 | 8.02 | 3.11 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 164.1M | 171.4M | 206.1M | 338.5M | 436.7M | 477.3M | 533.0M | 557.9M | 602.9M | 602.7M | 626.2M | 626.2M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 161.4 | 146.9 | N/A | 39.7 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 391.9 | N/A | N/A | 13.2 | 22.1 | N/A | 13.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 84.9 | 85.9 | N/A | 30.5 |
| Price/Book | N/A | N/A | 5.9 | N/A | 14.8 | 25.4 | 15.6 | 4.8 | 3.7 | 7.8 | N/A | 5.0 |
| Price/Sales | N/A | N/A | N/A | 5.3 | 5.6 | 11.6 | 14.6 | 4.0 | 2.6 | 2.6 | N/A | 2.7 |
| FCF Yield | N/A | N/A | -11.7% | -17.8% | -1.0% | 0.3% | -0.5% | -7.3% | 7.6% | 4.5% | N/A | 7.2% |
| Market Cap | 0 | N/A | 2.8B | 3.8B | 17.2B | 86.0B | 115.6B | 27.3B | 24.3B | 65.3B | 0 | 62.6B |
| Avg. Price | 0.00 | N/A | 13.68 | 12.94 | 27.87 | 106.63 | 272.74 | 89.51 | 57.22 | 73.11 | 0.00 | 100.00 |
| Year-End Price | 0.00 | N/A | 13.50 | 11.15 | 39.30 | 180.28 | 216.89 | 48.92 | 40.36 | 108.72 | 0.00 | 100.00 |
Sea Ltd passes 3 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 20.3x vs a median of 17.7x. The company's 5-year average gross margin is 42.6%. At current prices, the estimated annualized return to fair value is +85.5%.
Sea Ltd (SE) has a debt-to-equity ratio of 0.16. This indicates a conservatively financed balance sheet.
Sea Ltd (SE) reported earnings per share (EPS) of $2.52 in its most recent fiscal year.
Sea Ltd (SE) has a return on equity (ROE) of 15.1%. This indicates the company generates strong returns for shareholders.
Sea Ltd (SE) has a 5-year average gross margin of 42.6%. This indicates decent pricing power.
The Ledger Terminal provides 11 years of financial data for Sea Ltd (SE), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Sea Ltd (SE) has a book value per share of $20.00, based on its most recent annual SEC filing.
No recent press releases.