Sea Limited
—
Sea Limited (stylized as: sea) is a tech conglomerate headquartered in Singapore. It is listed on the New York Stock Exchange, with revenue of US$16.8 billion (2024).
From Wikipedia, CC BY-SA 4.0, revision of 13 Oct 2026.
What stands out
- Sales have grown about 39.3% a year for five years, so each $1 of sales in FY2020 is about $5.24 now.Revenue growth over 5–10 years: +39.3% a year
- Sea Limited kept about 9 cents of operating profit from each $1 of sales in FY2025.Operating margin (operating income ÷ revenue): 8.7%
- Net income was negative over these years, so the comparison doesn't work.Free cash flow (operating cash flow − capex), and FCF ÷ net income: $4.5B
Worth digging into
- Up more than 100%, or down more than 50%, in a year1-year price change −52.49%
- Looks cheap: P/E under 12 or FCF yield over 8%P/E 29.5x, FCF yield 9.5%
- More than 30% below its 52-week high−53.5% from the 52-week high
From filed figures and the weekly screener snapshot, 30 Oct 2026. Observations to check in the tabs below, not advice.
What has the price done?
—
Press and drag across the chart to see the change between two points. Source: Yahoo Finance, delayed. Bars are daily and prices are adjusted for splits, not dividends. Past returns don't predict future returns.
Dividends
Full chart
TradingView's advanced chart, with indicators and drawing tools. It loads when you scroll to it.
How does it make money?
What it does is in the oven
We haven't typed up Sea Limited's business and region split yet. Every figure comes from the company's own results, so this takes a little time.
See companies we've covered ›History and context
Sea Limited (stylized as: sea) is a tech conglomerate headquartered in Singapore. It is listed on the New York Stock Exchange, with revenue of US$16.8 billion (2024). Sea currently functions as a holding company for Garena, Monee and Shopee, the largest e-commerce platform in Southeast Asia.
Since 2020, Sea is also the owner of Singapore Premier League football club Lion City Sailors FC, after Forrest Li acquired, privatised and renamed Home United.
From Wikipedia's article Sea Ltd, the lead section as of the revision of 13 Oct 2026, retrieved 1 Nov 2026. Text under CC BY-SA 4.0, pronunciation guides removed. Wikipedia can be edited by anyone; the company's own filings are the primary source.
What it actually sells Soon
A product-by-product guide to Sea Limited: what each one is, who buys it, and how much it brings in, in plain English and in the company's own terms. We're starting with the companies that are hardest to picture, like Broadcom.
Moat not rated yet
We haven't rated Sea Limited's moat. A rating needs at least five years of returns against the cost of capital, plus evidence for each of the five lenses.
How we rate moats ›Is it a good business at a fair price?
What each method implies
Ranges, not targetsThe five questions, and the price
Six checks from the annual reports. A flag marks a reason to dig deeper, not a verdict.
- 1. Is it growing?Within the guide
+39.3% a year
Revenue growth over 5–10 years
Revenue $4.4B in FY2020 to $22.9B in FY2025; +54.7% a year over 10 years. It fell in 0 of the last 5 years.
Sales have grown about 39.3% a year for five years, so each $1 of sales in FY2020 is about $5.24 now.
What to look for Steady growth, not one lucky year.
Source: FY2020 10-K, filed 16 Apr 2021; FY2025 10-K, filed 17 Apr 2026.
- 2. Is it profitable?Within the guide
8.7%
Operating margin (operating income ÷ revenue)
FY2025 operating margin. 5-year average −2.7%, range −15.9% to 8.7%.
Sea Limited kept about 9 cents of operating profit from each $1 of sales in FY2025.
What to look for Stable or rising. It's cleaner than net income, which one-off items and tax can distort.
Source: FY2025 10-K, filed 17 Apr 2026.
- 3. Is the profit real cash?Within the guide
$4.5B
Free cash flow (operating cash flow − capex), and FCF ÷ net income
FY2025 free cash flow: operating cash flow $5.0B less capex $513.8M. Over 5 years FCF was — of net income.
Net income was negative over these years, so the comparison doesn't work.
What to look for FCF positive and growing, and close to net income over time.
Source: FY2025 10-K, filed 17 Apr 2026.
- 4. Is it a good business?
—
Return on invested capital (ROIC); ROE for banks
Equity, debt or cash isn't tagged for enough years to work out ROIC.
We need the balance sheet to answer this.
What to look for Clearly above the cost of capital (roughly 8–10%). Sustained 15%+ usually means a moat.
- 5. Can it survive a bad year?
—
Net debt ÷ EBITDA or ÷ FCF, plus interest cover
Borrowings or cash isn't tagged in the 10-K.
We need the balance sheet to answer this.
What to look for Debt payable from about 3 years of FCF or less, interest covered many times.
- 6. Is the price right?
9.5% FCF yield
FCF yield or EV/EBIT, and price against a cash-flow value
Market cap $47.4B. FCF yield 9.5% on FY2025 free cash flow.
At this price, each $100 of shares comes with about $9.52 of last year's spare cash.
What to look for Pay less than a cash-flow value estimate, with a margin of safety.
Source: Price $74.24, Yahoo Finance weekly snapshot, 30 Oct 2026; 638M shares, 20-F 31 Dec 2025; FY2025 10-K, filed 17 Apr 2026.
US figures: each company's Form 10-K as tagged on SEC EDGAR, collected 19 Oct 2026. Free cash flow is operating cash flow less purchases of property and equipment. Borrowings exclude leases. For education only. Not financial advice.
Ten years of financials
FY2016 to FY2025, in US dollars.
Source: Sea Limited, Form 10-K for each year as first filed, via SEC EDGAR XBRL. Latest: FY2025 10-K, filed 17 Apr 2026. Later restatements aren't applied.
How peers compare
Communication services names we coverA sector is a loose fit — these are simply the communication services names whose filings we've loaded, not a hand-picked set.
| Company | Revenue growth, 5y | Operating margin | P/E | EV/EBITDA |
|---|---|---|---|---|
| SE | +39.3% a year | 8.7% | 29.5x | — |
| GOOGL | +17.2% a year | 32.0% | 25.9x | — |
| META | +18.5% a year | 41.4% | 26.2x | 15.3x |
| NFLX | +12.6% a year | 29.5% | 24.5x | 20.1x |
| DIS | +7.6% a year | 18.6% | 16.2x | 10.4x |
- Peers' middle-half P/E
- 22.5x–26.0x (median 25.2x, 4 peers)
- Peers' middle-half EV/EBITDA
- 12.8x–17.7x (median 15.3x, 3 peers)
At the peers' middle-half P/E, Sea Limited's earnings per share from the FY2025 10-K would put the share between $56.58 and $65.42. Those are the peer bars in the valuation chart above — one way to read the price, not a target.
Prices: weekly screener snapshot, 30 Oct 2026. Profits: each company's latest annual filing via SEC EDGAR, as filed. Peers are same-sector names we cover, which is a looser fit. A multiple compares one year's profit with today's price; it says nothing about what either does next.
Not in Stock valuation yet
Stock valuation doesn't have Sea Limited's figures yet. You can still type them in: pick "Value your own company" and fill in the inputs from the latest results.
Value your own company ›Who owns it, and what's the mood?
Tracked investors and insiders
Trades in Sea Limited by the people we follow: Warren Buffett and Michael Burry (13F), Grab's officers (Form 4) and Nancy Pelosi (House reports). They show what happened, often weeks later, not what to copy.
| Who | Did | Size | When | Disclosed |
|---|---|---|---|---|
| Chase ColemanTiger Global Management | TrimmedShares | −2,856,683 sharesabout $273,755,932 at quarter-end value | Q2 2026 | 14 Aug 202645 days after Q2 2026 ended |
| Howard MarksOaktree Capital Management | New positionShares | +635,443 sharesabout $60,894,503 at quarter-end value | Q2 2026 | 14 Aug 202645 days after Q2 2026 ended |
Sources: SEC EDGAR 13F-HR and Form 4 filings, and the US House Clerk's Periodic Transaction Reports, checked 30 Oct 2026. 13F values are the quarter-end value, not the price paid. All tracked trades ›
- Largest shareholdersSoonThe biggest holders from 13F filings and the annual proxy statement.—
- Chief executive and board holdingsSoonShares held by the CEO and directors, from the proxy statement and Form 4s.—
- Short interestSoonHow many shares are sold short, from exchange short-interest reports.—
Crowd favourite or value trap?
Neither is a label we can put on a stock. These are signs worth looking into, each from a figure on this page.
Signs of a crowd-driven price
Meme stocks move on attention more than on results: big swings, a price far from cash-flow value, thin profits.
1 of 3 signs (1 without data)
- NoSwings at least twice as much as the marketBeta 1.58, 5 years of monthly returns
- YesUp more than 100%, or down more than 50%, in a year1-year price change −52.49%
- —Price more than 50% above the valuation sheet's middle valueNot in Stock valuation yet
- NoThin profits: operating margin under 5%, or a lossFY2025 operating margin 8.7%
Signs of a value trap
A value trap looks cheap because the business is shrinking or earning less than its capital costs.
2 of 3 signs (1 without data)
- YesLooks cheap: P/E under 12 or FCF yield over 8%P/E 29.5x, FCF yield 9.5%
- NoRevenue lower than five years agoRevenue +39.3% a year over 5 years
- —Returns below the cost of capitalNot rated yet
- YesMore than 30% below its 52-week high−53.5% from the 52-week high
Prices, beta and 1-year change: Yahoo Finance weekly snapshot, 30 Oct 2026. Business figures: the five questions under Valuation and financials. A sign is a reason to dig deeper, not a verdict. For education only. Not financial advice.
Read it through a lens
Price data: Yahoo Finance, delayed. Company figures: each company's own filings, dated where they appear. A ticker on this site is not a recommendation. For education only. Not financial advice.