Sea Limited
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a SE research report →
Range $152 – $156
Price Chart
About the company
Operating across Southeast Asia, Latin America, other parts of Asia, and various international markets, Sea Limited and its group of companies specialize in three core areas: digital entertainment, e-commerce, and digital financial services. Under its Garena brand, the company provides a comprehensive digital entertainment platform. This platform allows users to play a variety of online games on both mobile devices and personal computers, participate in eSports events, and access additional entertainment content.
- CEO
- Xiaodong Li
- IPO
- 2017
- Employees
- 102,700
- HQ
- Singapore, CE, SG
AI snapshot
Six angles, distilled from the data.
The stock is in a multi-month downtrend and still trades below its 200-day average, so the longer-term regime remains weak. It has also fallen well off its 52-week high, which keeps the setup in a repair phase rather than a confirmed breakout.
Street sentiment stays constructive, with a Buy consensus and an average target of about $153.67, well above the current share price. Recent actions are mixed but mostly supportive: RBC upgraded to Buy, while several firms held or nudged targets higher, even as DBS reiterated Hold.
Expectations point to continued growth, with next-year EPS seen at 5.18 versus 2.56 TTM and revenue projected to keep expanding. The key watchpoint is whether Sea can keep converting top-line growth into cleaner earnings after a 1-for-7 beat rate and a recent miss.
Recent insider activity is clearly negative, with 15 reported sales and no buys. The selling is concentrated in officer Wang Yanjun, and the transactions are coded as S-Sale rather than automatic award or tax-related flows, so they read as discretionary distribution rather than routine noise.
Profitability is solid and improving, with gross margin at 44.3%, operating margin at 8.35%, and net margin at 5.91%. Growth remains strong too, with revenue up 48.1% year over year and free cash flow of $5.54 billion against $513.8 million of capex, supported by $9.46 billion in net cash.
Sea screens as a premium growth name in internet retail, with stronger momentum and profitability than many broadline retail peers. The valuation still looks rich versus the sector, but the market is paying for 48.1% revenue growth and a path toward higher earnings power.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $57.54B
- P/E
- 35.37
- Fwd P/E
- 26.26
- PEG
- 1.08
- P/S
- 2.08
- P/B
- 4.55
- EV/EBITDA
- 20.32
- Div Yield
- 0.00%
- Gross Margin
- 44.34%
- Op Margin
- 7.95%
- Net Margin
- 5.91%
- ROE
- 13.51%
- ROIC
- 8.34%
Latest fiscal year · YoY change
- Revenue
- $22.94B+36.4%
- Gross Profit
- $10.24B+42.2%
- Op Income
- $1.86B
- Net Income
- $1.58B+255.2%
- EPS
- $2.65+244.2%
- OCF Growth
- +53.4%
- FCF Growth
- +52.7%
- 52W High
- $193.48
- 52W Low
- $77.05
- 50D MA
- $110.20
- 200D MA
- $102.75
- Beta
- 1.52
- RSI (14)
- 32
- Avg Volume
- 4.29M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Sea posted a strong Q2 with 48% revenue growth, improving unit economics, and management reiterating confidence in hitting more than $1 billion of full-year Shopee adjusted EBITDA.· August 11, 2026
- Sea revenue rose 48% year over year to $7.8 billion, adjusted EBITDA was $917 million, and net income increased 11% to $458 million.
- Shopee GMV grew 28% year over year to $38.3 billion, with adjusted EBITDA of $255 million; management said full-year Shopee GMV growth remains on track for around 25%.
- Shopee monetization improved further: core marketplace revenue was $4.3 billion, ad revenue was up more than 70%, and ad take rate improved by over 90 basis points year over year.
- Monee loan principal outstanding reached $11.1 billion, up 62% year over year, with the 90-day NPL ratio at 1.0% and active credit users up around 34% year over year.
- Garena bookings increased 15% year over year to $764 million, with Free Fire still driving engagement and new game launches planned for later this year.
Sea reported second-quarter 2026 GAAP revenue of $7.8 billion, up 48% year over year, and adjusted EBITDA of $917 million, up 11% year over year. Net income was $458 million, up 11% year over year. Shopee GMV increased 28% year over year to $38.3 billion, gross orders were up 27% to $4.2 billion, Shopee GAAP revenue was $5.6 billion, and Shopee adjusted EBITDA was $255 million. Sea also said Monee consumer and SME loans principal outstanding reached $11.1 billion, up 62% year over year, with 90-day NPLs at 1.0%, while Garena bookings grew 15% year over year to $764 million and adjusted EBITDA was $430 million. Looking ahead, management reiterated full-year Shopee GMV growth of around 25% and said it remains optimistic that Shopee will achieve more than $1 billion in adjusted EBITDA for the full year.
Forrest Li framed the quarter as a continuation of strong momentum, saying Sea is improving both scale and unit economics while investing prudently for profitable growth. He highlighted Shopee’s gains in new buyers, advertising, logistics, fulfillment, VIP, and content, and said Brazil remains a key growth market where Sea is outpacing the broader market. On Monee, he emphasized that better risk models and broader product reach are enabling growth while keeping credit performance stable, and on Garena he pointed to Free Fire’s longevity and the pipeline of new titles as reasons for confidence.
Tony Hou provided the key financial bridge: Sea revenue of $7.8 billion, adjusted EBITDA of $917 million, and net income of $458 million. He broke out Shopee revenue at $5.6 billion, marketplace revenue at $4.9 billion, core marketplace revenue at $4.3 billion, and value-added services revenue at $0.7 billion; Shopee adjusted EBITDA was $255 million. He also said consumer and SME loans principal outstanding was $11.1 billion, including $10 billion on-book and $1.1 billion off-book, with 90-day NPLs at 1.0%, and noted that higher provisions were mainly due to a higher mix of off-Shopee SPayLater and Brazil loans.
Analysts focused on whether Shopee margins and GMV growth can keep improving, how much further take rates and ad monetization can rise, and whether fulfillment investment is still early or nearing maturity. Management said GMV growth remains on track for around 25% for the full year, unit economics are improving quarter on quarter, and Shopee still has room to expand monetization through ads and other take-rate levers. On fulfillment, management said the business is still in the ramp-up stage but is gaining scale and economics, helped by a capex-light model and more integration with logistics. On Monee, management said rising provisions mostly reflect a richer mix of off-Shopee and Brazil lending, while credit risk remains stable by country, segment, and product.
The call showed multiple operating levers working at once: Shopee is growing GMV, improving ad monetization, and scaling fulfillment and VIP; Monee is expanding with stable asset quality; and Garena remains profitable with Free Fire still drawing over 100 million average daily active users. Management repeatedly said unit economics are improving and expressed confidence in full-year targets, including more than $1 billion of Shopee adjusted EBITDA.
Management acknowledged that growth in the second half will face tougher GMV comps and potential foreign exchange headwinds, especially as many local currencies weaken versus the U.S. dollar. They also flagged that higher Monee provisions are tied to a higher mix of riskier products and Brazil exposure, and that some of the new initiatives, like automation in fulfillment and AI tools, are still early in their rollout.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 93.4%
- Shares Outstanding
- 600.35M
- Float Shares
- 560.77M
of shares held by institutions
809 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for SE, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Josh S. GottheimerHouse · NJ05 | Buy | Mar 10, 26 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Sell | Dec 5, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Buy | Jun 17, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Sell | Jul 10, 25 | Filing → |
| Josh S. GottheimerHouse · NJ05 | Buy | May 23, 25 | Filing → |
| Robert P. BresnahanHouse · PA08 | Buy | Mar 11, 25 | Filing → |
| Robert P. BresnahanHouse · PA08 | Buy | Mar 5, 25 | Filing → |
| Daniel GoldmanHouse · NY10 | Sell | Jul 10, 23 | Filing → |
| Daniel GoldmanHouse · NY10 | Buy | Mar 31, 23 | Filing → |
| Kurt SchraderHouse · OR05 | Sell | Sep 1, 21 | Filing → |
| Kurt SchraderHouse · OR05 | Sell | May 14, 21 | Filing → |
| Kurt SchraderHouse · OR05 | Sell | Jun 30, 20 | Filing → |
| David Alfred PerdueSenate | Sell | Nov 18, 16 | Filing → |
| David Alfred PerdueSenate | Sell | Sep 12, 16 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Baillie Gifford & Co | 38.41M | ▼ 1.24M |
| Price T Rowe Associates Inc | 35.64M | ▲ 2.23M |
| Wcm Investment Management, LLC | 33.88M | ▲ 134.72K |
| Blackrock, Inc. | 21.18M | ▲ 240.93K |
| Fmr LLC | 15.40M | ▲ 1.36M |
| Tiger Global Management LLC | 12.56M | ▼ 2.86M |
| Jpmorgan Chase & Co | 8.19M | ▼ 1.16M |
| Schroder Investment Management Group | 7.65M | ▲ 1.38M |
| State Street Corp | 7.28M | ▲ 26.95K |
| Temasek Holdings (Private) Ltd | 5.74M | ▲ 461.73K |
| Viking Global Investors LP | 5.67M | ▲ 932.68K |
| Norges Bank | 5.64M | ▲ 5.64M |
Held by 683 ETFs
Biggest fund positions in SE by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Oct 1, 26 | Zhao Feng | sell | 17,391 |
| Oct 1, 26 | Zhao Feng | sell | 15,146 |
| Oct 1, 26 | Zhao Feng | sell | 7,463 |
| Oct 1, 26 | Wang Yanjun | sell | 272 |
| Oct 1, 26 | Wang Yanjun | sell | 604 |
| Oct 1, 26 | Wang Yanjun | sell | 124 |
| Oct 2, 26 | Wang Yanjun | sell | 679 |
| Oct 2, 26 | Wang Yanjun | sell | 295 |
| Oct 2, 26 | Wang Yanjun | sell | 26 |
| Sep 29, 26 | Wang Yanjun | sell | 636 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our SE coverage
Recent articles, reports, and earnings notes.

Sea Ltd (SE): Growth Momentum Across Three Engines
Sea delivered 46.6% revenue growth in Q1 2026 as Shopee, Monee, and Garena all accelerated, while adjusted EBITDA topped $1.0B for the first time. The stock remains a Buy, but valuation and execution discipline matter at a 44.7 trailing P/E.

Sea Limited's 14% breakout is an earnings re-rating, not a meme move
Sea's 14.56% jump has earnings behind it: Q2 revenue grew about 48% year over year while net income reached $458.1 million. The 6.4% net margin, EPS miss, and fintech credit risk are real checks, but they do not outweigh a TickerSpark Score of 81 and a powerful growth engine.

Sea Limited (SE) climbs on deep Q2 earnings analysis
Sea Limited (SE) climbs after a broad Q2 beat, but the real story is in the details: Shopee’s accelerating GMV, stronger ad monetization, Monee’s fast-growing loan book and Garena’s resilient bookings. This deep dive examines how revenue, EBITDA and segment trends support the rally.
Want a deeper read on SE?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
Sea Limited Sponsored ADR (SE) Outperforms Broader Market: What You Need to Know
zacks.com · Oct 5
Sea (NYSE: SE) insider sells 40,000 shares in preplanned trade
defenseworld.net · Oct 5
SEA (NYSE:SE) Insider Sells 40,000 Shares of Stock
defenseworld.net · Oct 5
SEA (NYSE:SE) Insider Yanjun Wang Sells 1,000 Shares of Stock
defenseworld.net · Oct 5
Apache workers back strike that could disrupt North Sea Forties oil pipeline, union says
reuters.com · Oct 4
Sea Limited: A Buy-The-Dip Case Is Taking Shape
seekingalpha.com · Oct 2
SEA (NYSE:SE) Insider Yanjun Wang Sells 1,000 Shares of Stock
defenseworld.net · Oct 2
Sea: Scaling Is Evident For Shopee, With Raised Profit Targets
seekingalpha.com · Oct 1
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed October 1, 2026 · Live quote · Not investment advice